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Serba Dinamik posts RM113 mln net profit for the period ended March 31

Serba Dinamik group managing director and chief executive officer Datuk Dr Mohd Abdul Karim Abdullah

KUALA LUMPUR, June 25 --  Serba Dinamik  Holdings Bhd posted a net profit of RM113.32 million for the quarter ended March 31, 2021 on the back of RM1.38 billion revenue mainly due to strong activities from operation and maintenance (O&M) and engineering, procurement, construction and commissioning (EPCC) segments.

In a filing with Bursa Malaysia today, it said O&M and EPCC segments contributed 90.5 per cent and 7.2 per cent respectively.

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 December 31 on May 7.

It said the next audited financial statements should be for a period of eighteen months from Jan 1, 2020 to June 30, 2021 and thereafter, the financial year end should be June 30 for each subsequent year.

The total dividends for the financial period ended March 31, 2021 is 5.45 sen per ordinary share.

In a separate statement, group managing director/group chief executive officer Datuk Dr Mohd Abdul Karim said although the company’s core revenue contributors remained to be the O&M and EPCC segments, it is aggressively growing its ICT business locally and globally.

“The COVID-19 pandemic and current Movement Control Order (MCO) has pushed the urgency for  Serba Dinamik  to grow and explore strategic sectors of the economy,” he said.

It said the company have been proactive in pursuing new opportunities in the non-oil and gas areas and recently ventured is into the space industry, where it expand and enhance core capabilities in high value engineering into this industry.

He said the company has also expanded into the US market via the sponsoring of a special purpose acquisition company (SPAC), Data Knights Acquisition Corp, which it is confident to be in a good position to benefit from the potential returns as an early entrant.

At close today, shares of  Serba Dinamik  declined 23.36 per cent to 41 sen with 485.65 million shares transacted.

-- BERNAMA

 

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