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22 May 2024

Wednesday, September 29, 2021

Serba Dinamik posts revenue of RM1.2bil in Q2 2021

 

Operation and maintenance (O&M) activities in the Middle East and Malaysia, contributed RM1.1 billion or 90.6% of Serba Dinamik’s total revenue.

KUALA LUMPUR: Serba Dinamik Holdings Bhd posted a net profit of RM14.92 million for the quarter ended June 30, 2021, on the back of RM1.21 billion in revenue.

This was mainly due to strong activities from operation and maintenance (O&M) in the Middle East region and Malaysia, which contributed RM1.1 billion or 90.6% of the total revenue, the group said in a stock exchange filing with Bursa Malaysia today.

The group’s engineering, procurement, construction, and commissioning (EPCC) segment was the second biggest contributor to revenue with RM100.4 million or 8.3% of total revenue.

The group’s information and communication technology (ICT) segment provided RM11.8 million or 1.0% contribution to total revenue for the quarter under review.

The oil and gas service provider said there will be no comparative financial information available for the financial period due to a change in its financial year to June 30 from Dec 31.

Group managing director and chief executive director Mohd Abdul Karim Abdullah said the business has performed resiliently in the face of challenging situations during the quarter.

“All of our business segments have shown commendable growth. The group has been persistent and proactive in pursuing new opportunities in non-oil and gas areas.

“We will aggressively grow our space and connectivity businesses moving forward. This is in line with the government’s 12th Malaysia Plan,” said Mohd Karim.

For the cumulative eighteen-month period, the group registered total revenue of RM8.6 billion with both profit before tax and profit after tax coming in at RM848.4 million and RM758.4 million, respectively.

“We want to reassure our stakeholders, we are operating on a business-as-usual basis and to look out for business opportunities to enhance the profitability of the group,” Karim said.

“The Special Independent Review is progressing well and we are hopeful that the findings can be disclosed in the fourth quarter of the year to remove all doubts on the group’s navigation.

“We remain bullish on the group’s prospects despite the current circumstances from the Covid-19 pandemic,” he added. -FMT

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