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SERBADK (5279) SERBA DINAMIK HOLDINGS BHD net profit soars to RM631.7mil in 2020

KUALA LUMPUR: Serba Dinamik Holdings Bhd said its net profit in the last quarter jumped 43% to RM202mil, as revenue swelled by a third to RM1.81bil.

This boosted its full year earnings to a new high of RM631.7mil, or 17 sen a share.

Serba Dinamik has declared a fourth interim dividend of 1.6 sen a share in the quarter ended Dec 31, lifting its payout for the year to 5.45 sen a share.

The group said its operation and maintenance (O&M) business generated RM1.5bil in revenue during the last quarter, while the engineering, procurement, construction and commissioning (EPCC) segment doubled its contribution top RM203mil.

Serba Dinamik said the higher price of crude oil is expected to boost the group's performance in 2021.

"The Group will continue to capture new opportunities in both domestic and international market," it said.

In January, Serba Dinamik bagged 11 contracts in Indonesia, India and Malaysia.

"As part of our initiative to increase non-oil and gas contribution, five contracts from the announced contracts are related to power generation industry whereby it involves installation of Diesel Rotary Uninterruptible Power Supply (DRUPS) for our customer in Indonesia," it said.

"The Group has also been awarded with an ICT contract to implement smart solutions for development of Smart City and Safe City in India which shows there are more potential demand in the market that the Group can tap into," it added.

With the recent completion of private placement exercise, Serba Dinamik said it will start its plan to restore Teluk Ramunia Yard in Kota Tinggi, Johor.

"The proceeds of RM100mil will be utilised over 24 months to rejuvenate the multiple workshops into a hybrid and efficient centre for example a combination of conventional workshop machineries with autonomous Artificial Intelligence (AI) element which will enhance the capacity of the machineries and eventually will improve the production output of the operation," it said.

"Forging ahead, the Group will stay to bolster its position in Middle East and South East Asia. The Group is aimed to expand its presence in Central and South Asia and Africa as the Group see more prospects within this region," it added.

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