Dialog group posts higher net profit in Q3

 Publish date: Tue, 14 May 2019, 9:50 PM

KUALA LUMPUR: Dialog Group Bhd posted a higher net profit of RM143.7 million in the third quarter ended March 31, 2019, against RM118.83 million chalked up in the same period in 2018.
Revenue, however, fell to RM636.6 million from RM867.37 million previously, the integrated technical services provider said in a filing with Bursa Malaysia today.
“Revenue from Malaysian operations for the current quarter was lower, primarily due to the near completion of the engineering, procurement, construction and commissioning works in Pengerang Deepwater Terminals (PDT) Phase 2 projects,” it said.
On prospects, Dialog remained confident that its business model was well-structured to manage oil price volatility and currency movements.
It said the ongoing operations of PDT Phase 1 were in the midst of being expanded by 430,000 cubic metres.
Meanwhile, Phase 2A, the dedicated petroleum and petrochemicals terminal for the Refinery and Petrochemical Integrated Development (RAPID), commenced its initial stages of commercial operations in November 2018.
“Dialog remains committed to enhancing efficiency and productivity by incorporating new technologies and improving business processes to remain competitive, moving forward.
“Dialog is pleased to announce the group has commenced the construction of a storage terminal, common tankage facilities and deepwater marine facilities for Phase 3 of Pengerang Deepwater Terminals,” it said.
It noted that the announcement is an update on the progress made since the signing of a Memorandum of Understanding with the Johor state government and the State Secretary, Johor (Incorporated) at the launch of Pengerang Deepwater Terminals Phase 3 in April 2018 and the commencement of land reclamation activities in May 2018.
 - Bernama
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