Serba Dinamik to take part in RM1.4b Johor development

This article first appeared in The Edge Financial Daily, on August 18, 2017.
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KUALA LUMPUR: Serba Dinamik Sdn Bhd is planning to take part in an integrated industrial, commercial and residential project worth an estimated RM1.4 billion in gross development value, on some 132 acres (53.42ha) of land in Pengerang, Johor.

Serba Dinamik said it intends to ink two memorandums of agreement (MoAs) with two companies, namely Izin Budi Sdn Bhd and AlMurisi Holding Sdn Bhd, to undertake the integrated development at the 132-acre site.

“Both the MoAs provide opportunities for Serba Dinamik to participate in the development of industrial, commercial and residential projects on an approximately 132-acre [parcel] in Pengerang, Johor.

“Under the MoAs, Serba Dinamik shall participate in the engineering, procurement, construction and commissioning of the project. It is envisaged that the project shall comprise of Pengerang eco-Industrial Park (PeIP), Pengerang International Commercial Centre as well as [a] mixed residential and commercial development, namely Pengerang Northshore Residence,” it said.

Serba Dinamik is also proposing to establish Malaysia’s first oil and gas maintenance, repair and overhaul (MRO), and inspection, repair and maintenance (IRM) Global Centre of Excellence within the PeIP.

“This is timely considering Petronas’ largest downstream investment in Malaysia of US$27 billion (RM115.83 billion) for its Pengerang Integrated Complex (PIC) will incorporate the refinery and petrochemical integrated development (Rapid) and six associated facilities,” it said in a separate statement.