CORP BRIEF: Serba Dinamik, Widad Group, IOI and Green Packet

by TMR / graphic by MZUKRI MOHAMAD

Serba Dinamik records RM14.9m net profit

SERBA Dinamik Holdings Bhd registered a net profit of RM14.92 million and revenue of RM1.21 billion for the sixth quarter ended June 30, 2021. In a filing to Bursa Malaysia yesterday, the company said for the cumulative 18-month period, Serba Dinamik registered a total revenue of RM8.6 billion with a net profit of RM759.98 million. There is no quarter-on-quarter comparison as Serba Dinamik changed its financial year-end to June 30, 2021, from Dec 31, 2020. According to the company, the composition of revenue is mainly contributed by strong activities from operations and maintenance, and engineering, procurement, construction and commissioning segments with 90.6% and 8.3% contribution, respectively.

Widad Group wins KBKK project tender

WIDAD Group Bhd’s wholly-owned subsidiary Widad Builders Sdn Bhd (WBSB) has accepted a Letter of Award from the Malaysian Public Works Department for a RM244.3 million project to build Package 3C of the Kota Bharu–Kuala Krai Expressway (KBKK). In a filing to Bursa Malaysia yesterday, the company said WBSB is principally involved in the construction and integrated facilities management activities. The work will commence on Dec 27, 2021, and last for 36 months. The project is expected to be funded via internally generated funds and/or external borrowings.

IOI wins land tender in Singapore

MALAYSIA’S IOI Properties Group Bhd won a tender for a land parcel in Singapore’s prime business precinct for S$1.5 billion (RM4.6 billion). The bid for the 0.78ha plot will pave the way for the company to enter into mixed-use development comprising residential, hotel and commercial elements in the Marina Bay area, according to a filing yesterday. While the property market has been hit by the Covid-19 pandemic, Singapore’s real-estate sector has seen a rebound in the second quarter of the year amid a speedy vaccination rollout and the reopening of the economy, the company said. Private residential sales have surged more than 200% on a year-on-year basis, it added. — Bloomberg

Green Packet posts higher net loss

GREEN Packet Bhd’s net loss widened to RM49.24 million year-on-year for its second quarter ended June 30, 2021, versus the net loss of RM11.98 million recorded previously. Its revenue was also marginally lower to RM128.85 million against the previous RM144.97 million, due to lower sales registered in Smart City, Urban Tech business by 79% as well as communications segment by 19% due to reduced inbound traffic on voice minutes.