Dayang, Serba Dinamik stand out in O&G results

Dayang, Serba Dinamik stand out in O&G results

KUCHING: Two Sarawakian firms – Dayang Enterprise Holdings Bhd (Dayang) and Serba Dinamik Holdings Bhd (Serba Dinamik) were among the top highlights of the oil and gas sector (O&G) during the review of corporate results for the fourth quarter of 2019 (4Q19). This was on the back of a largely disappointing quarter, said analysts at Kenanga Investment Bank Bhd (Kenanga Research) with half of its sector coverage (or seven out of 15 stocks) reporting results below expectations. “This comes as a huge negative, considering the ‘4Q effect’ whereby analysts already had three prior quarters during the year to readjust earnings expectations,” it said in a sector outlook yesterday. “Key takeaway post-results season is that all of the Petronas-related oil and gas counters posted disappointing results, with Petronas Chemicals Group Bhd and Petronas Dagangan Bhd posting weaker financials, in line with the weaker Petronas Group’s FY19 results. “Meanwhile, fabricators still continued to disappoint during their results, albeit with narrowing losses, even after several quarters of...
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