KUALA LUMPUR (Feb 26): Serba Dinamik Holdings Bhd’s net profit for the fourth quarter ended Dec 31, 2020 (4QFY20) jumped 43.47% to RM202.15 million, from RM140.88 million a year earlier.

This group attributed this to strong activities from its operations & maintenance (O&M) and engineering, procurement, construction and commissioning (EPCC) segments.

Revenue climbed 33.45% to RM1.82 billion from RM1.26 billion in 4QFY19, the group’s filing with Bursa Malaysia today showed.

Serba Dinamik declared a fourth interim dividend of 1.65 sen per share, to be paid on March 31. This brought the total dividend payout for FY20 to 5.45 sen per share.

For the full year, the group said net profit increased  27.2% to RM631.75 million, from RM496.64 million in FY19. Full year revenue jumped 32.8% to RM6.01 billion, from RM4.53 billion.

Serba Dinamik said revenue from the O&M segment in 4QFY20 increased 29.16% to RM1.5 billion, from RM1.16 billion in 4QFY19,  due to higher maintenance repair and overhaul activity in the Middle East region such as Oman, and in Malaysia.

The EPCC segment’s revenue soared 41.06% to RM203.06 million, from RM143.93 million, derived from various contracts in the UAE, Turkmenistan and Malaysia.

The group said its ICT segment boosted its revenue to RM113 million, from RM56.4 million in 4QYFY19.

“Aside from the contribution of the existing contracts which are related to customised solutions involving software developments, the increase was also contributed by contracts in the UAE and Qatar for services relating to extended reality (XR) training applications,” added Serba Dinamik.

Forging ahead, the group said it will seek to bolster its position in the Middle East and Southeast Asia.

“The group is aiming to expand its presence in Central and South Asia and Africa, as the group sees more prospects within these regions. For 2020, the group has secured four new contracts and has penetrated two new countries within the two regions,” it added.

Shares of Serba Dinamik closed 10 sen or 0.59% higher at RM1.71, valuing the group at RM6.37 billion.