Serba Dinamik bags nine contracts worth RM448m

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KUALA LUMPUR (Feb 12): Serba Dinamik Holdings Bhd announced today two of its wholly-owned subsidiaries have secured nine contracts worth at least US$110 million (RM448.09 million) in aggregate.

In an exchange filing today, the group said Serba Dinamik International Ltd (SDIL) secured three operations and maintenance (O&M) contracts from Energeniq FZE for work in United Arab Emirates, Pavillion Multi Holding LLC in Uzbekistan, and Process Dynamics Company in Qatar.

These contracts, which are for two- to three-year periods,  commenced in November 2018, and in January and February this year.

Meanwhile, the group said Serba Dinamik Sdn Bhd (SDSB) has secured three O&M contracts from Pengerang Refining Company Sdn Bhd, Pengerang Petrochemical Company Sdn Bhd, and Petronas Dagangan Bhd.

The unit also secured one engineering, procurement, construction and commissioning (EPCC) contract from Malaysia LNG Sdn Bhd, and two O&M and EPCC contracts from Petronas Carigali Sdn Bhd.

SDSB’s contracts, which have no specific values as they are on a “call-out” basis, commenced as early as December 2018 in Malaysia.

According to Serba Dinamik, the nine contracts secured by its units are expected to contribute positively to the group’s earnings for the financial year ending Dec 31, 2019.

Serba Dinamik’s share price closed four sen or 1.09% up at RM3.71, after a total of 1.35 million shares were traded.

The group, which is eyeing an RM10 billion order book by year-end, is valued at RM5.45 billion.