DEHB deputy chairman James Ling said the company's listing marked a milestone for them because after 27 years as a successful oil and gas services provider, it was now able to share its achievements with the public and institutional investors.He
had established itself as a major provider of offshore platform services with a list of impressive clienteles including Petronas Carigali, Sarawak Shell
, Sabah Shell, ExxonMobil
, Murphy Sabah Oil Co Ltd
"To date, DEHB
has completed various contracts totaling some RM934 million with ongoing contracts worth approximately RM627 million.The durations of the contracts are between one and five years.
"But we are not a company which rests on its laurels; in fact we have today tendered for contracts amounting to some RM595 million," said Ling
, who rated the chances of getting contracts as 70 per cent. The signatories of the agreement for DEHB yesterday were its executive chairman Datuk Hasmi Hasnan and Ling, while the financial institution was represented by AMMB Holdings Bhd deputy chairman Datuk Azlan Hashim and Pushpa.
Reviewing the history of DEHB
said it is an investment holding company incorporated in 2005 but the company's roots went back 27 years with the founding of the group's subsidiary, Dayang Enterprise Sdn Bhd (DESB).
At the start of operations, he
said the company ventured into trading of hardware material and supply of manpower for the oil and gas industry.
is presently the single largest contributor to the group and for the financial year ending Sept 30, 2007, its business activities represented 52.1 per cent of the total group revenue amounting to some RM66.3 million.He
pointed out that two other DEHB subsidiaries were DESB Marine Service Sdn Bhd
- which involves in the chartering of marine vessels - and Fortune Triumph Sdn Bhd
which specialises in the provision of rental equipment.
is ranked ninth amongst companies that undertake offshores topside maintenance services and hook-up commissioning services out of 59 companies in the country," he
also pointed out that DEHB
was accredited with the MS ISO 9001:2000 Quality Management System by Sirim QAS International Sdn Bhd
said to date the company had received 14 awards including recognition for stellar operational and Health Safety Environment (HSE) achievements, safety excellence, Zero lost time incidents and a good safety record.Ling
added that they are determined to maintain the best practices of operational performance to achieve high standard of HSE all the time.He
said they are in the proper position to offer shares to the public and believed that the shareholders customers and users will be rewarded with valuable services, long-term growth and an increase in shareholder value.
When asked if the increase of the price in crude oil would benefit DEHB
said they would only benefit in terms of getting more work as oil companies who earn more revenue from higher oil price would spend more money to maintain their platforms.
Meanwhile, Azlan believes that with the positive outlook for the oil and gas industry, the management team is well poised to bring DEHB
to greater heights after its listing on Bursa Malaysia.He
added that with the upcoming listing of DEHB
, AmInvestment Bank Sarawak
Branch has successfully advised and listed 18 Sarawak-based companies on Bursa Malyasia, representing over 50 per cent of total Sarawak-based companies listed on Bursa Malaysia.