Dialog confident of good showing in FY23

Dialog said it remains confident that its business model is well structured to manage and sustain the group through periods of economic uncertainty, oil price volatility and currency movements.

PETALING JAYA: Dialog Group Bhd will remain focused and steadfast in the pursuit of its key long-term strategies.

In a filing with Bursa Malaysia yesterday, the company said it remains confident that its business model is well structured to manage and sustain the group through periods of economic uncertainty, oil price volatility and currency movements.

For its third quarter ended March 31, 2023, Dialog’s net profit dipped to RM130.81mil from RM133.07mil in the previous corresponding period, while revenue grew to RM802.79mil from RM593.43mil a year earlier.

Basic earnings per share was 2.32 sen, versus 2.36 sen before.

For the nine-month period ended March 31, 2023, Dialog’s net profit dropped to RM383.74mil from RM389.76mil in the previous corresponding period, while revenue grew to RM2.3bil from RM1.64bil a year earlier.

Looking ahead, Dialog said its focus will continue to be on the midstream business, the ongoing development of the Pengerang Deepwater Terminal (PDT) into the largest petroleum and petrochemical hub for the Asia-Pacific region.

“Phase 3 of PDT has been designated for the development of more dedicated petroleum and petrochemical storage terminals for medium to long-term customers, potentially compromising energy traders, multinational energy companies, refineries and petrochemical plants.

“This will support the further development of various downstream operations including those of the refinery and petrochemical plants within the Pengerang Integrated Petroleum Complex.”

In the downstream business, Dialog said it will continue to leverage on its strengths and established track record in integrated technical services comprising engineering, procurement, construction and commissioning, plant maintenance and catalyst handling services, as well as specialist products and services.

“With the completion of PDT Phase 2, Phase 3A and the refinery projects at the Refinery and Petrochemical Integrated Development, we are also now actively involved in the plant maintenance services for these completed projects, in addition to other external and existing projects.

“Barring any unforeseen circumstances, the group remains optimistic of its positive performance in the financial year ending June 30, 2023,” it said.