Kuala Lumpur: Dayang Enterprise Holdings Bhd’s share price experienced a rise in early trading today after securing three work order contracts from Petronas Carigali Sdn Bhd.

According to BERNAMA News Agency, CIMB Securities Sdn Bhd noted that the contracts, which span a three-year period with an additional two-year extension option, are projected to contribute up to RM444.4 million in revenue.

CIMB Securities has maintained a ‘Buy’ call on Dayang Enterprise, citing tight market supply and the company’s robust net cash position. The firm is also projecting stable vessel utilisation rates of around 70 per cent by 2025.

At 9.41 am, Dayang Enterprise’s share price rose by 5.0 sen to reach RM2.00, with 647,600 shares changing hands.