Serba Dinamik reported its full year and Q4 results where the group delivered a 96% decline in revenue from RM170 million to a mere RM6 million this was also a decrease of 0.5% from the immediate preceding quarter.
The PN17 company attributed the decline to lower business from EPCC and ICT activities, while it said it O&M and E&T segments improved slightly. Overall, the Group incurred a gross loss of RM 56.4 million, showing 10% reduction in losses as compared to Q3FY23.
As for its full year, the group’s year-to-date revenue and gross loss recorded a total of RM 407.7 million and RM 195.1 million respectively. 98.4% of the group’s revenue was contributed by O&M segment, followed by 0.6% from EPCC and the remaining 1% from E&T and ICT segments. The Group recorded a loss before tax of RM1.3 billion after corporate expenses and consolidation elimination of intergroup transactions
Its revenue in the Middle East fell by 99.99% and 87.2% for the individual quarter and cumulative period ended 30 June 2023 as compared to the corresponding quarter and period ended 30 June 2022. Furthermore, it said there was no revenue generated from Europe and Central and South Asia for the current quarter.
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.
