SERBA Dinamik Holdings Bhd remains focused on operating and managing its affairs on a business as usual (BAU) basis while be on the look-out for business opportunities to enhance the group’s profitability.
This assurance comes from group managing director/CEO Datuk Dr Mohd Abdul Karim Abdullah on the back of the global integrated oil and gas (O&G) services provider having posted a net profit of RM13.8 mil from a revenue of RM1.2 bil for its 6Q FY2021 ended June 30, 2021.
For the cumulative 18-month period, the group registered a total revenue of RM8.6 bil with net profit of amounting to RM758.4 mil. Similar to the previous quarter, there is no comparison for the corresponding quarter as Serba Dinamik has changed its financial year end to June 30, 2021 from Dec 31, 2020 on May 7 this year.
“The Special Independent Review (SIR) is progressing well and we are hopeful that the findings can be disclosed in 4Q 2021 to remove all doubts on the group’s navigation,” Abdul Karim pointed out in a media statement accompanying the company’s financial results.
“We remain bullish on the group’s prospects despite the current circumstances from the COVID-19 pandemic”.
For its 6Q FY6/2021, the operations and maintenance (O&M) segment was the largest contributor to Serba Dinamik’s revenue with RM1.1 bil or 90.6% of the total revenue.
This was attributable to strong maintenance repair and overhaul (MRO) and inspection, repair and maintenance (IRM) activities in the Middle East region namely United Arab Emirates (UAE), Qatar and Oman followed by Malaysia.
Delving on prospects, Serba Dinamik said it has boarded the space-related industry as part of its strategy to reduce its reliance on the O&G industry.
“Satellite connectivity and internet service provider (ISP) is one of business pillar that the group plans to focus on,” the company noted. “Internet network is needed by Malaysia and the ASEAN region to deliver faster internet speed and higher data capacity with wider coverage connectivity.”
ASEAN which boasts over 400 million internet users is expected to need some US$11-US$18 bil in investments to roll out 5G networks in the region with a view to reaching some 200 million people by 2025.
“The COVID-19 pandemic has changed the behaviour, attitude, and purchasing habits of consumers and many of these are set to remain post-pandemic,” the company projected.
“Serba Dinamik possesses the Network Facilities Providers (NFP) and Network Service Providers (NSP) licenses from the Malaysian Communications and Multimedia Commission (MCMC) to become one of the internet service providers.”
At the close of today’s trading, Serba Dinamik was down 1 sen or 2.9% to 33.5 sen with 38.97 million shares traded, thus valuing the company at RM1.25 bil. – Sept 29, 2021
