It was reported on Wednesday that issues regarding gas distribution rights in Sarawak had been resolved through a series of negotiations.

Meanwhile, Phillip Capital Research said demand for offshore vessels remains healthy for the marine business, with high utilisation rates for vessels owned by Dayang and its 63.5%-owned Perdana Petroleum Bhd.

“Management anticipates a 4%-5% increase in charter rates, driven by the ongoing vessel supply shortage, which will further strengthen margins.

“The 16% pullback in share price over the past three months presents a strong opportunity to accumulate,” it said.