Kuala lumpur: Dayang Enterprise Holdings Bhd’s (Dayang) net profit for the second quarter ended June 30, 2025 (2Q 2025) slipped to RM76.64 million from RM131.43 million in 2Q 2024. In a filing with Bursa Malaysia, the company revealed a revenue drop of 41 percent to RM267.35 million from RM455.84 million previously, attributed to a lower vessels utilisation rate of 64 percent compared to 91 percent in 2Q 2024.

According to BERNAMA News Agency, the decline was largely driven by delays in the commencement of contracts with oil majors and the drydocking of two anchor handling tug supply vessels in April and June 2025 for ship class extension. The company further noted that decreased chartering of third-party vessels and fewer work orders from oil majors under topside maintenance contracts also contributed to the revenue downturn.

For the first half ended June 30, 2025 (1H 2025), Dayang’s net profit decreased to RM88.95 million from RM159.34 million in 1H 2024, with revenue falling by 40 percent to RM421.17 million against RM702.96 million previously. Despite the declines, the company expressed confidence that solid activities would persist in the third quarter, supported by steady vessel utilisation and ongoing industry-wide shutdowns and turnaround activities.

Dayang stated that earnings visibility for the financial year ending December 31, 2025, will remain stable with outstanding call-out contracts amounting to approximately RM5 billion. The company is actively pursuing more contracts based on its current and past performance, while maintaining a vigilant approach to managing business affairs and delivering outstanding performance.