PETALING JAYA: Dialog Group Bhd
will be investing and multi-skilling its workforce to ensure it remains efficient and competitive.
In a filing with Bursa Malaysia, the oil and gas company said its ongoing digital transformation initiatives have been progressing well.
“We will continue these initiatives to reinforce our competitiveness,” said the company.
For the second quarter ended Dec 31, 2023, Dialog’s net profit rose to RM148.29mil from RM127.15mil in the previous corresponding period, while revenue grew to RM859.21mil from RM797mil a year earlier.
Basic earnings per share stood at 2.63 sen versus 2.25 sen previously.
Dialog said its Malaysian operations recorded higher revenue and net profit mainly attributable to higher production from its upstream activities.
“The midstream activities continued to contribute a stable revenue stream to the group from the operation of Dialog Terminals Langsat and Dialog Terminals Pengerang.
“The profit contribution from these activities for the current quarter have improved against the previous corresponding quarter last year due to increased occupancy rate.”
Additionally, Dialog said its downstream team remained busy with various engineering, procurement, construction and commissioning (EPCC) and plant maintenance projects.
“As some of these projects are near completion, the losses reported by the downstream activities for the current financial quarter have been reduced as compared with the corresponding quarter.
For the six-months period ended Dec 31, 2023, Dialog’s net profit rose to RM280.46mil from RM252.94mil previously, while revenue improved to RM1.64bil from RM1.51bil a year earlier.
Going forward, Dialog said it will remain focused and steadfast in the pursuit of its key long-term strategies.
“In the upstream business, the general outlook of the oil market continues to see an improvement following the disruption to demand caused by the global events.
“Against this backdrop, the group will continue to grow its existing upstream business through the rejuvenation, development and operatorship of producing and mature oilfields.”
In the downstream business, Dialog said it will continue to leverage its strengths and established track record in integrated technical services comprising EPCC, plant maintenance and catalyst handling services and specialist products and services.
“To expand our downstream business, the group is building its first own and operating specialty chemical plant producing malic acid located at BASF PETRONAS Chemical Complex in Gebeng, Kuantan.
“This represents Dialog’s first foray into production of specialty chemicals and acts as a catalyst for Dialog to expand its footprint in this sector by producing high value specialty chemical products.”
