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BUSINESS • 13/02/2025 08:24 PM

Dialog Posts RM129 Mln Net Loss In Second Quarter Due To One-off Impairment, Cost Overruns

KUALA LUMPUR, Feb 13 (Bernama) -- Dialog Group Bhd recorded a net loss of RM129.49 million in the second quarter ended Dec 31, 2024, compared to a net profit of RM148.288 million in the corresponding period in 2023.

The company said the loss was mainly due to a one-off impairment of investments in petrochemical and renewable projects and cost overruns in engineering, procurement, construction and commissioning (EPCC) projects.

For the first six months of the financial year, the group recorded a net profit of RM21.475 million on the back of revenue of RM1.314 billion.

“The challenges encountered during the pre-commissioning and commissioning stages of these EPCC projects resulted in higher costs. Nonetheless, the group is committed to completing and delivering these projects. The cost overruns and project losses have been addressed and accounted for as the projects approach completion,” it said in a stock exchange filing.

-- BERNAMA

 

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