KUALA LUMPUR (March 9): Serba Dinamik Holdings Bhd (SDHB) said today its indirect wholly-owned subsidiary Serba Dinamik Sdn Bhd (SDSB) has secured a term contract involving rotating equipment maintenance services for the Petronas LNG Complex Malaysia from Malaysia LNG Sdn Bhd.

According to a filing with Bursa Malaysia today, SDHB said the contract has begun on Feb 19, 2021 and is scheduled for completion on Sept 30, 2022.

Today, SDHB said the contract has no specific value as the project is "on a call-out basis" whereby the work orders will be awarded at the discretion of the client based on their activity schedules and rates throughout the duration of the contract.

Besides the operations and maintenance (O&M) contract from Malaysia LNG, SDHB also announced today that the group has secured another O&M contract and three information, communication and technology (ICT) projects.

SDHB said the O&M contract and three ICT projects have a combined estimated value of US$99.6 million (approximately RM408.8 million).

SDHB said the company via its 75%-owned indirect subsidiary PT Serba Dinamik Indonesia secured the Indonesia-based O&M contract from PT Pilar Bahtera Energi. 

Meanwhile, the three ICT projects are based in India. 

SDHB said the company via its indirect wholly-owned subsidiary SDIT International Ltd secured one ICT contract from Captive Technology Solutions Pvt Ltd.

SDHB said its indirect 49%-owned associate Serba2C India Private Ltd bagged the other two ICT jobs in India from Analog and Digital Labs India Private Ltd.

At Bursa’s 12:30pm break today, SDHB settled two sen or 1.1% lower at RM1.80, which values the group at about RM6.68 billion. SDHB has 3.71 billion issued shares.