LAST_UPDATESun, 22 Jul 2018 9pm

Serba Dinamik's Net Profit Jumps 500pc

KUALA LUMPUR: Integrated engineering services provider Serba Dinamik Holdings Bhd posted a 500 per cent jump in its second quarter net profit ended June 30, 2017, from RM13.67 million to RM83.6 million in the same preceding quarter last year.

Revenue increased 6.09 per cent to RM649.7 million as compared to RM612.4 million same quarter last year.

The improvement in revenue was mainly driven by the Group’s engineering, procurement, construction and commissioning (EPCC) segment which contributed 16.97 per cent to its total revenue.

Operations & maintenance (O&M) segment remained the largest contributor with a contribution of 82.88 per cent of the total revenue.

“We are pleased with our performance over the first 6 months, which is in line with our expectations for our f2017 financial year as a whole.

“Malaysia remains the main contributor to the Group’s revenue with 24.2 per cent contribution, mainly from both our O&M services and EPCC contracts for mini hydro power plants in Kota Marudu, Sabah, and water treatment plant in Kuala Terengganu.

“Meanwhile, we are going strong in the Middle East region, which generated 61.14 per cent of the Group’s total revenue despite the recent Qatar-gulf complication,” group managing director and chief executive director Datuk Mohd Abdul Karim Abdullah said in a statement yesterday.

In respect of the financial year ending December 31, 2017, its Board of Directors has declared a first interim single-tier tax exempt dividend of 1.50 sen per ordinary share, to be paid on September 20, 2017.

The entitlement date for the dividend payment is 30 August 2017.

“We are optimistic that we can further strengthen the Group’s business viability and profitability, given the continued confidence received from our existing clients as well as our new clients.

“We have recently successfully secured six work contracts, locally and internationally through two of our wholly-owned subsidiaries, Serba Dinamik International Limited and Serba Dinamik Sdn Bhd.

“With its total contract value of RM522.92 million, it will keep us on track achieve the target we have set to ensure the Group’s sustainability,” Karim added.

 - NST