2 people like this.

5 comment(s). Last comment by teoct 2019-06-12 16:16

probability

14,496 posts

Posted by probability > 2019-06-11 23:39 | Report Abuse

i like the systematic, thesis like analysis incorporating the odds factor presented by teoct...

teoct is certainly one of the treasurable assets of i3

pjseow

2,264 posts

Posted by pjseow > 2019-06-12 08:35 | Report Abuse

teoct , great work with so much details . Thanks for the sharing

titus

4,165 posts

Posted by titus > 2019-06-12 09:31 | Report Abuse

thumbs up and pls keep up the good work....truly appreciate it.
Even thou i don't hold much of this counter, but it is always a pleasure to read such factual, systematic, clean and easy to understand analysis. Thanks again

Ong8888

27 posts

Posted by Ong8888 > 2019-06-12 15:26 | Report Abuse

Great work teoct. I love reading your articles.

I would like to share a bit of my thoughts.

I think there is no need to put much attention into the cost of materials and manpower. You can find that the inventory level in the balance sheet is minimal at around 6-7m only. Manpower will not be the determining factor for the volatility of the profits as well because as you mentioned, there is ample supply of manpower in the current market. The cost of manpower will be stable. Furthermore, as the manpower is paid based on daily rates, the will be no cost to Dayang when there is no job.

What determines the profitability of Dayang is their work load. When there is low work load, the utilisation of Perdana's vessel will take a hit as the jobs done by Dayang requires support from the vessels. If you look into Perdana's income statement, you will realise what I mean.

The most important thing for Dayang now is their work load and Perdana vessels' utilisation and charter rate which is difficult to predict.

Keep up the good work!

teoct

480 posts

Posted by teoct > 2019-06-12 16:16 | Report Abuse

Awesome, many thanks for the kind words all.

Ong8888, yes point noted. Thank you very much.

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