KUALA LUMPUR: Serba Dinamik Holdings Bhd, a global integrated engineering services provider, posted a net loss of RM42.3 million in the first quarter ended September 30 2021.
Group revenue stood at RM799.3 million, Serba Dinamik said in a statement today.
Serba Dinamik said its operations and maintenance (O&M) segment was the largest contributor to the revenue, at RM742.9 million or 92.9 per cent of the total revenue.
This was attributable by maintenance, repair and overhaul (MRO) and inspection, repair and maintenance (IRM) activities, which mainly contributed from operations in the Middle East region such as Qatar and the United Arab Emirates, followed by Malaysia.
The group's engineering, procurement, construction and commissioning segment was the second biggest contributor with RM52.3 million or 6.5 per cent of total revenue.
Its information and communication technology and education and training segments provided a revenue of RM1.8 million and RM2.4 million respectively.
Geographically, the Middle East region was the largest contributor to revenue, providing RM559.2 million or 70 per cent of total revenue for Q1, followed by Southeast Asia with RM231.1 million or 28.9 per cent of total revenue.
Central and South Asia region contributed RM6.2 million or 0.8 per cent of the total revenue, while the remaining contribution came from the United Kingdom at RM2.9 million.
Group managing director Datuk Dr. Mohd. Abdul Karim Abdullah said Covid-19 had begun as a health crisis but quickly morphed into a global economic crisis of unprecedented magnitude and speed.
"The global ripple effects are still being felt, and it is unlikely that the true impact of this pandemic can be measured until the situation stabilises.
"In line with the industry moving forward in response to the adoption of the Fourth Industrial Revolution (IR 4.0), Serba Dinamik is striving to generate sustainable value and construct entire sustainability while integrating information technology and aerospace business as part of its core business."
He added that despite the positive fundamentals, the group's business environment remained challenging, owing to the crisis that it was experiencing as a result of the incomplete statutory audit.
"The group is striving to resolve these issues in the best interests of all stakeholders," he added.