SERBA Dinamik Holdings Bhd posted a commendable RM799.34 mil in revenue for its 1Q FY6/2022 ended Sept 30, 2021.
However, the global integrated oil & gas (O&G) service provider incurred a pre-tax loss of RM39.0 mil and net loss of RM42.11 mil during the quarter under review.
During the 1Q FY6/2022 period, the group’s operations and maintenance (O&M) segment was the largest contributor to the revenue with at RM742.9 mil or 92.9% of its total revenue.
This was attributable to maintenance repair and overhaul (MRO) and inspection, repair and maintenance (IRM) activities which were mainly derived from operations in the Middle East region such as Qatar and United Arab Emirates (UAE) followed by Malaysia.
The group’s engineering, procurement, construction and commissioning (EPCC) segment was the second biggest contributor to revenue with RM52.3 mil or 6.5% of the group’s total revenue.
Meanwhile, the group’s information and communication technology (ICT) and education and training (E&T) segments generated a revenue of RM1.8 mil and RM2.4 mil respectively.
Geographically, the Middle East region was the largest contributor to Serba Dinamik’s revenue during the quarter with RM559.2 mil or 70% of the total revenue for 1Q FY6/2022.
Meanwhile, the Southeast Asia region contributed RM231.1 mil or 28.9% of total revenue followed by the Central & South Asia region with RM6.2 mil (0.8% of total revenue) and the UK with RM2.9 mil.
“COVID-19 began as a health crisis but quickly morphed into a global economic crisis of unprecedented magnitude and speed,” commented Serba Dinamik’s group managing director/CEO Datuk Dr Mohd Abdul Karim Abdullah.
“The global ripple effects are still being felt and it is unlikely that the true impact of this pandemic can be measured until the situation stabilises.”
In response to the adoption of the Fourth Industrial Revolution (IR 4.0), Abdul Karim said Serba Dinamik is striving to generate sustainable value by embarking on sustainable ventures while integrating ICT and aerospace business as part of its core business.
“Despite the positive fundamentals, the group’s business environment remains challenging owing to the crisis that the group is currently experiencing as a result of the incomplete statutory audit,” Abdul Karim pointed out. “The group is striving to resolve these issues in the best interests of all stakeholders”.
Serba Dinamik was last transacted at 35 sen at the close of the mid-day trading on Oct 22 prior to the trading suspension of its shares/warrants, hence giving the company a market capitalisation of RM1.31 bil. – Nov 30, 2021
