SERBA DINAMIK'S PERFORMANCE IMPROVES ON STRONG O&M, EPCC RESULTS

KUALA LUMPUR, May 20 -- Serba Dinamik Holdings Bhd recorded a net profit of RM133.72 million in the first quarter (Q1) ended March 31, 2020, up 19 per cent from RM112.15 million a year earlier.

The energy services group said revenue for the quarter jumped to RM1.28 billion year-on-year from RM984.39 million due to strong activities from operation and maintenance (O&M) segment.

O&M contributed 86.8 per cent, or RM1.11 billion, of the group's total revenue -- an increase of RM250.85 million over the RM858.73 million recorded in the same quarter of 2019, it said in a filing with Bursa Malaysia today.

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In a statement, group managing director and chief executive officer Datuk Dr Ir Mohd Karim Abdullah said the group's O&M and engineering, procurement, construction, and commissioning (EPCC) segments continued to show strong results, and moving forward, the group would continue to expand these segments.

He added the group would also put emphasis on its information and communication technology segment, which had doubled its contribution to the revenue compared to the same period last year. 

 “The group continues to expand digitally more than ever. In early May, Serba Dinamik signed a memorandum of understanding with Malaysian Technology Development Corporation to foster collaborations in digital start-up ecosystem in Malaysia in order to provide guidance and mentoring to budding entrepreneurs for innovative transformation," he said.

Mohd Karim said the latest digital initiative added to those which the group had started last year, such as Innovation Hub, Virtual Reality Park and Serba Dinamik Global Skills Centre’s initiatives in revolutionising training and education to fit the Industry 4.0 trends.

 -- BERNAMA