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Serba Dinamik cuts net loss to RM89.67 mil in 2Q

07 Mar 2023 09:36pm
Revenue fell 40.27 per cent to RM105.80 million from RM177.141 million in 2Q FY22, mostly attributed to the reduction in activities across all segments.
Revenue fell 40.27 per cent to RM105.80 million from RM177.141 million in 2Q FY22, mostly attributed to the reduction in activities across all segments.
KUALA LUMPUR - Serba Dinamik Holdings Bhd's net loss for the second quarter ended Dec 31, 2022 (2Q FY23) decreased sharply to RM89.67 million versus RM290.3 million in 2Q FY22.

Revenue fell 40.27 per cent to RM105.80 million from RM177.141 million in 2Q FY22, mostly attributed to the reduction in activities across all segments.

"The most significant reduction is realised in the operation and maintenance (O&M) and engineering, procurement, construction and commissioning (EPCC) segments.

"The EPCC segment recorded no revenue during the quarter compared to RM30.4 million in 2Q FY22 and a 27.3 per cent reduction in O&M activities from RM141.8 million to RM103.1 million," it said in a filing with Bursa Malaysia today.

Moving forward, the group said the O&M segment will remain its core competency and form the foundation of its operations.
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"With the group being classified as a PN17 company, the board pledges to resolve the ongoing issue, including the restructuring and regularisation plan in the best interests of stakeholders," it added. -Bernama

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