KUALA LUMPUR – Serba Dinamik Holdings Bhd’s net loss for the third quarter of 2023 (Q3 2023) ended March 31, 2023 widened to RM972.91 million from RM434.19 million in the preceding year’s corresponding quarter.
Revenue fell to RM6.18 million due to a decline in operation and maintenance (O&M) activities in the overseas market compared with RM205.48 million previously, the company said in a filing with Bursa Malaysia.
The revenue composition was mainly contributed by activities from the O&M segment with 80.95%, while the remaining revenue was derived from engineering, procurement, construction and commissioning, information and communications technology, and education and training services.
The firm recorded a loss before tax of RM106.5 million in the quarter.
It said the board of directors anticipates that the group’s operations would remain challenging due to the uncertainty of the global economy as well as the current challenges the company is facing from a liquidity perspective.
“The group views that the O&M segment would remain its core competency and is fundamental in 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 interest of the stakeholders,” it added. – Bernama, June 15, 2023
