Dayang's order book hits RM1.5b

Sarawak-based oil and gas services provider, Dayang Enterprise Holdings Bhd (DEHB), expects further growth after chalking up successful quarters on strong order book of RM1.5 billion until 2016.

Its executive chairman, James Ling, said the company, listed on the Main Market of Bursa Malaysia in 2008, recorded a strong second quarter on Petronas Carigali deal.

"The primary enabler of DEHB's success is Petronas’ Vendor Development Programme, a programme aimed at providing local contractors with incentives and the confidence to increase their capital base," he said in Kuching today

Sarawak’s only homegrown Petronas-registered contractor grew parallel to the rise in the state’s oil and gas business, and its share prices hovered around RM1.75 this week.

He said DEHB’s success and accomplishments over the past 30 years were mainly due to the support and guidance from Petronas Carigali, Shell and Murphy Oil.

The programme also allowed DESB to expand its business and become a competitor in the international and local markets, he said.

Ling said DEHB qualified for the programme by bringing in Bumiputera partners.

DEHB started in 1980 as a hardware and manpower supplier with a capital of only RM10,000, four employees and 100 offshore workers.

Today it is a thriving enterprise providing maintenance services, fabrication operations and hookup and commissioning services with 300 employees and 1500 workers deployed to its offshore operations.

Riding on the wave of its success, DEHB then established Fortune Triumph Sdn Bhd in 1999, a unit providing rental equipment and machinery to the players in the oil and gas industry.

DEHB set up DESB Marine Services Sdn Bhd in May 2005, a unit involved in the chartering of marine vessels, including floating accommodation and catering. -- Bernama