By Stella Goh 

Dialog Group Berhad’s earnings climbed by 17.64% in the last quarter ended 30 June to lift its full year (FY2020) net profit to RM630.36 million and the company has proposed a lower final dividend of 1.90 sen per share compared with 2.30 per share previously.

According to Dialog Group Berhad, its strong financial performance achieved in FY2020 was mainly contributed by Malaysian operations, which saw a higher contribution from the company’s terminal business especially Dialog Terminals Langsat 1,2 and 3 and Pengerang Independent Terminals Sdn Bhd (PITSB).

DIALOG feels optimistic and expected its performance to remain positive in FY2021. The company would continue to develop Pengerang Deepwater Terminals (PDT) for oil, gas and petrochemical players who are looking to capture Asia-Pacific demand growth over the next 30 years. Beyond Phase 3, DIALOG has another 500 acres available for future development in Pengerang area. The company is also investing an additional RM100 million for another 85,000 cubic-meter storage capacity, which is targeted for completion and ready for operations by end-2021.

While in the downstream, sector, company will continue to leverage on their strengths and established track record in integrated technical services comprising of engineering, procurement, construction and commissioning, plant maintenance and catalyst handling services as well as specialist products and services. While in the upstream sector, by following the drop in oil price and production cut by oil producers, the company is taking proactive steps in the cash flow management of their upstream assets together with their respective partners accordingly.

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