KUALA LUMPUR (Jan 31): Serba Dinamik Holdings Bhd is optimistic of getting back on track in the next two years, with some operations showing positive year-on-year improvement, particularly the information and communications technology (ICT) and education segments. 

Managing director and group chief executive officer Datuk Dr Abdul Karim Abdullah said despite the rough and challenging year due to the Covid-19 pandemic, the group managed to achieve reasonable acceptable performance for the financial year ended June 30, 2021.

He said this in a statement released after the group’s virtual Annual General Meeting (AGM) on Monday (Jan 31).

During the AGM, Abdul Karim also took questions from the Minority Shareholders Watch Group (MSWG) on the high impairment on trade receivables.

“The group has to bite the bullet to impair the trade receivables due to time constraints and travel restrictions in certain countries where the group is operating,” he said.

Other significant updates were the group's decision to submit its regularisation plan, including issues relating to debt restructuring and remaining competitive in the current business climate.