The revenue for FY2023 plunged to RM403.23 million from RM1.35 billion a year ago, while loss per share weakened further to 34.88 sen from 29.34 sen.

However, Serba Dinamik narrowed its net loss to RM105.02 million in the fourth quarter ended June 30 (4QFY2023) from RM327.76 million a year ago, on higher operating income and lower administrative expenses.

Revenue for the quarter tumbled 96% to RM6.1 million from RM170.3 million.

Serba Dinamik, currently classified as a Practice Note 17 (PN17) company, said the composition of revenue was mainly contributed by activities from the operations and maintenance (O&M) segment while the remaining revenue was from education and training services.

The company is primarily engaged in providing engineering services and solutions for oil & gas ranging from O&M, engineering, procurement, construction and commissioning (EPCC), and other products.

On its prospects, the board anticipates that operations will remain challenging going into 2023 due to the uncertainty of the global economy as well as challenges the company is facing from a liquidity perspective.

“The group believes the O&M segment will continue to be its core competency and provide the foundation for its operations.

“With the group being classified as a PN17 company, the board pledges to resolve the ongoing issue, including the restructuring and regularisation plans, in the best interests of stakeholders,” it said in a filing with Bursa Malaysia today.