KUALA LUMPUR (Oct 16): Integrated engineering services provider Serba Dinamik Holdings Bhd announced today that it has secured five jobs, two of which have a combined estimated value of US$163 million or about RM682.81 million.

The two comprises one engineering, procurement, construction and commissioning or EPCC contract related to a gas pipeline project in Turkmenistan, and one operations and maintenance (O&M) job for  pumps, compressors and other rotating equipment — together with manpower and spare parts — in Oman.

The EPCC was awarded by State Concern Turkmengas and started on Sept 13 while the O&M's client is Revenue International LLC, according to Serba Dinamik in a statement today. The second contract started on Aug 14 and will be completed in three years.

Meanwhile, the remainder three contracts are two O&M contracts and one EPCC job that were all secured locally. No specific value for these contracts was provided.

The three-year local O&M jobs were secured from SEA Hibiscus Sdn Bhd and Petroliam Nasional Bhd or Petronas, with the former relating to the provision of mechanical rotating maintenance services while the latter is for the appointment of panel contractors to provide mechanical rotating equipment services and parts to Petronas' group of companies and petroleum arrangement contractors.

Both carry a one-year extension option.

"The O&M contracts above have no specific value as the contracts are on a 'call-out' basis whereby the work orders will be awarded at the discretion of the clients based on its activities schedules and rates throughout the duration of the contracts," Serba Dinamik said.

As for the local EPCC contract, that was secured from Asean Bintulu Fertilizer Sdn Bhd and is for the provision of basic and detailed EPCC for the ABF Third Boiler Project in Bintulu, Sarawak.

“With the new securement of EPCC contract in Turkmenistan and O&M contract in OMAN, we will further strengthen our foothold in Central Asia and the Middle East...we foresee this will contribute positively to our financial year ending Dec 31, 2019 and the upcoming two years,” said its group managing director and group chief executive director Datuk Dr Mohd Abdul Karim Abdullah.

Serba Dinamik shares closed unchanged at RM4.35 today, valuing the company at RM6.39 billion. The stock, which ranged between RM3.55 and RM4.56 in the past 52 weeks, is up 8.5% from a year ago.