SERBA DINAMIK RECORDS REVENUE OF RM205.5 MLN IN Q3

KUALA LUMPUR, May 31 (Bernama) -- Serba Dinamik Holdings Bhd registered a revenue of RM205.5 million in the third quarter ended March 31, 2022 (Q3FY22), an increase of six per cent from Q2FY22, attributed to activities in the operations and maintenance (O&M) segment, especially in the Middle East.

However, its bottomline was affected by higher operational costs, resulting in a loss of RM77.2 million, a slight improvement compared to Q2FY22 with a reduction of RM88.6 million, it said in a statement today.

It said O&M segment remained the largest contributor to its revenue in both Q3FY22 and Q2FY22 albeit a decrease in revenue as compared with Q1FY22.

bootstrap slideshow

“The decrease is mainly due to lesser activities in Qatar, United Arab Emirates (UAE) and Malaysia hence, resulting in a gross loss for Q3FY22 as compared to 53.4 per cent gross profit in the immediate preceding quarter.

“This was attributable to maintenance, repair and overhaul (MRO) and inspection, repair and maintenance (IRM) activities, which is mainly due to lesser activities in Qatar, UAE and Malaysia which resulted in a gross loss for Q2FY22,” it said.

Serba Dinamik said its engineering, procurement, construction and commissioning (EPCC) segment contributed RM7 million or 3.4 per cent of total revenue, which mainly derived from contracts in UAE, Tanzania and Malaysia.

Meanwhile, it said the information and communication technology (ICT) and education and training segments provided revenue of RM2.7 million and RM2.1 million respectively.

Geographically, it said the Middle East region was the highest contributor to revenue, providing RM131.6 million or 64 per cent of total revenue for Q3FY22 mainly contributed from Qatar and UAE worth RM100.1 million and RM30.6 respectively.

“South East Asia region contributed RM47.6 million or 23.2 per cent as the second contributor, which mainly contributed from Malaysia and Indonesia with RM44.5 million and RM3.1 million respectively,” it said.

It said the Central and South Asia region provided revenue of RM21.5 million or 10.5 per cent, which was mainly derived from Turkmenistan.

Meanwhile, it said the United Kingdom contributed RM4.8 million in revenue for the current quarter.

On the progress of the company, it said the board is looking to file an application to seek leave from the court to convene its creditors meeting upon withdrawal of its application for judicial management.

-- BERNAMA