Serba Dinamik net loss widens to RM1.3bil

KUALA LUMPUR: Serba Dinamik Holdings Bhd reported a net loss of RM1.3 billion for the financial period ended June 30, 2023, compared to RM1.09 billion a year ago, due to corporate expenses and elimination of intergroup transactions.

Revenue declined to RM403.23 million versus RM1.35 billion a year ago, while loss per share weakened further to 34.88 sen from 29.34 sen.

For the fourth quarter ended June 30, 2023, the group recorded revenue of RM6.1 million with a gross loss of RM56.4 million, the engineering services company said in a filing with Bursa Malaysia today.

"The composition of revenue is mainly contributed by activities from the operations and maintenance (O&M) segment with 952.6 per cent contribution while the remaining revenue was from education and training services,” Serba Dinamik said.

It also recorded a loss before tax of RM104.2 million in the fourth quarter against RM327.9 million in the same period in 2022.

On prospects, Serba Dinamik said the board of directors anticipates that the group’s operations will remain challenging going into 2023 due to the uncertainty of the global economy as well as the current challenges the company is facing from a liquidity perspective.

"The group believes that the O&M segment will continue to be its core competency and provide the foundation for its operations.

"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 said. - Bernama