KUALA LUMPUR, May 19 — Dialog Group Bhd posted a net profit of RM136.17 million for the third quarter (Q3) ended March 31, 2021, down 10 per cent from RM151.04 million a year earlier.
Revenue fell to RM405.18 million from the RM505.43 million achieved in the previous year’s corresponding quarter, said the integrated technical services provider for the oil and gas and petrochemical industry.
“Despite the lower revenue and net profit reported in the downstream activities, the group saw increased contributions from its recurring income business such as midstream terminals,” it said in a filing with Bursa Malaysia today.
On prospects, the group said it would continue to develop Pengerang Deepwater Terminals (PDT) for oil, gas and petrochemical players which were looking to ride on the Asia-Pacific demand growth over the next 30 years.
“PDT continues to offer a compelling value proposition for the establishment of strategic hub operations given its ideal location and one-stop integrated hub offering,” it said.
With phases one and two of PDT already in operations, it said, the entry into the long-term storage agreement with BP Singapore Pte Ltd for phase three would be another significant milestone and was expected to be the catalyst for further development of PDT in the coming years.
It added that the group remained confident that its performance would be profitable for the financial year ending June 30, 2021.
At the close today, Dialog shares fell two sen to RM2.88, with 6.15 million shares traded. — Bernama
