Serba Dinamik posts improved net profit on higher revenue

PETALING JAYA: Higher operating profit across all business segments led to improved net profit for Serba Dinamik Holdings Bhd, with a 19.23% jump year-on-year (y-o-y) from Rm112.15mil to Rm133.72mil.

The group’s revenue also came in higher by 29.89% y-o-y from Rm984.39mil to Rm1.28bil.

Serba Dinamik said in a filing with Bursa Malaysia that its operation and maintenance (O&M) segment contributed 86.8% to its quarterly revenue at Rm1.11bil, an increase of 29.2% against the same quarter last year.

It added that the increase was due to higher activities from its maintenance, repair and overhaul of rotating equipment activities in the Middle East such as the United Arab

Emirates, Qatar and Oman and also in

Malaysia.

There were also higher activities in inspection, repair and maintenance of static equipment and structure), which recorded an improved profit of Rm202.5mil.

The engineering, procurement, construction and commissioning (EPCC) segment, being the second largest contributor, rose 26.5% y-o-y to Rm140.74mil, or 11% of the group’s total revenue,

This was mainly derived from the Serba Dinamik’s chlor-alkali plant in Tanzania and activity with Petronas Carigali Sdn Bhd in Malaysia.

The group declared a first interim single-tier tax-exempt dividend of 1.2 sen per ordinary share, to be paid on June 26. The entitlement date for the dividend payment is June 15.

Group managing director and chief executive officer Datuk Dr Mohd Karim Abdullah said the group would continue to expand its O&M and EPCC segments and place more emphasis on its information, communication and technology (ICT) segment, which he said showed great potential.

The ICT segment only contributed 2.2% or Rm27.93mil of the total revenue but it was an increase of 95.7% y-o-y from Rm14.27mil

“The group continues to expand digitally more than ever. In early May, we signed a memorandum of understanding with Malaysian Technology Development Corp to foster collaborations in the digital start-up ecosystem to provide guidance and mentoring to budding entrepreneurs for innovative transformation.

“This is in addition to our digital initiatives that were started last year, such as our Innovation Hub, Virtual Reality Park and Serba Dinamik Global Skills Centre in revolutionising training and education to fit the Industry 4.0 trends,” he said in a statement.