Disappointing earnings from Serba Dinamik

Serba Dinamik engineering: Despite higher gross profit (+3%) led by greater O&M works masking slower EPCC job progressions, the group’s bottom-line was dragged by significantly higher administrative expenses.

KUALA LUMPUR: Serba Dinamik posted its first ever earnings disappointment in its fifth quarter ended March 31, 2021 while the unfolding recent events have placed the group’s corporate governance under intense scrutiny.

Kenanga Investment Bank Research said on Monday Serba Dinamik posted 5QFY21 (i.e. 1QCY21) core net profit of RM113m (note that the group has changed its financial year-end to June 2021, from December 2020).