KUALA LUMPUR: Serba Dinamik Holdings Bhd remains focused on operating and managing its affairs on a business as usual basis, group managing director and chief executive officer Datuk Dr Mohd Abdul Karim Abdullah.
At the same time, Serba Dinamik would be on the lookout for business opportunities to enhance profitability.
The assurance comes on the back of the global integrated oil and gas (O&G) services provider posting a net profit of RM13.8 million on RM1.2 billion revenue for its sixth quarter (Q6) ended June 30, 2021.
For the cumulative 18-month period, Serba Dinamik today said it registered a total revenue of RM8.6 billion with a net profit of RM758.4 million.
Similar to the previous quarter, there is no comparison for the corresponding quarter as Serba Dinamik has changed its financial year end to June 30, 2021 from December 31, 2020, on May 7 this year.
Abdul Karim also said the special independent review by Ernst & Young to assess the veracity of the audit issues raised by Serba Dinamik's former auditor KPMG was progressing well.
He is hopeful that the findings can be disclosed in Q4 of 2021 "to remove all doubts on the group's navigation".
"We remain bullish on the group's prospects despite the current circumstances from the Covid-19 pandemic," he said in a statement today.
For Q6, the company's operations and maintenance (O&M) segment was the largest contributor to group revenue with RM1.1 billion or 90.6 per cent of the total revenue.
This was attributable to strong maintenance repair and overhaul (MRO) and inspection, repair and maintenance (IRM) activities in the Middle East region namely the United Arab Emirates, Qatar and Oman, and followed by Malaysia.
Delving on its prospects, Serba Dinamik said it had boarded the space-related industry as part of its strategy to reduce reliance on the O&G industry.
"Satellite connectivity and internet service provider is one of business pillar that the group plans to focus on. Internet network is needed by Malaysia and the Asean region to deliver faster internet speed and higher data capacity with wider coverage connectivity."
Serba Dinamik said Asean, which boasts over 400 million internet users, was expected to need some US$11 billion-US$18 billion investments to roll out 5G network in the region with a view to reaching some 200 million people by 2025.
"The Covid-19 pandemic has changed the behaviour, attitude and purchasing habits of consumers, and many of these are set to remain post-pandemic.
"Serba Dinamik possesses the Network Facilities Providers and Network Service Providers licences from the Malaysian Communications and Multimedia Commission to become one of the internet service providers," it added.
At the close of today's trading, Serba Dinamik was down one sen or 2.9 per cent to 33.5 sen with 38.97 million shares traded, valuing it at RM1.25 billion.
