Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily on June 25, 2019

KUALA LUMPUR: Serba Dinamik Holdings Bhd is exploring opportunities in oil and gas (O&G), energy, engineering and civil works, as well as construction and development projects with the Melaka government in the state.

In a statement yesterday, the group said its wholly-owned subsidiary Serba Dinamik Sdn Bhd had inked a memorandum of understanding (MoU) with PKNM Energy Sdn Bhd, which is wholly owned by the state’s Perbadanan Kemajuan Negeri Melaka, for the venture.

Serba Dinamik said the signing of the MoU represents both parties’ wish to collaborate in such projects.

“We are happy to team up with PKNM Energy to explore opportunities in Melaka and we are ready to share our expertise and experience for projects related to oil and gas, engineering and civil works, as well as construction and development projects,” said Serba Dinamik group managing director Datuk Dr Mohd Karim Abdullah.

He added that the proposed collaboration will expand Serba Dinamik’s footprint in Melaka, and enhance the group’s brand recognition.

In Malaysia, Serba Dinamik has projects in Johor, Sabah, Sarawak and Terengganu. It has a presence in Africa, Asia, Europe as well as North and South America.

The group recently secured six operations and maintenance (O&M) jobs as well as one engineering, procurement, construction and commissioning contract via Serba Dinamik International Ltd and Serba Dinamik Sdn Bhd.

Of the O&M jobs, one was secured in Qatar with an estimated contract value of US$60 million (about RM250.62 million). The other contracts are from Malaysia and have no specific values as they were secured on a “call-out” basis, where work orders will be awarded at the clients’ discretion based on their activity schedules and rates.

Serba Dinamik shares gained one sen to close at RM4.09 yesterday, giving it a market value of RM6.01 billion.

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