KUALA LUMPUR: Serba Dinamik
posted its first ever earnings disappointment in its fifth quarter ended March 31, 2021 while the unfolding recent events have placed the group’s corporate governance under intense scrutiny.
Kenanga Investment Bank Research said on Monday Serba Dinamik posted 5QFY21 (i.e. 1QCY21) core net profit of RM113m (note that the group has changed its financial year-end to June 2021, from December 2020).
“We deem this to be below expectations, with cumulative 15MFY21 core net profit of RM745mil coming in at 77% of our 18-month FY21E forecasts, ” it said.
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