KUALA LUMPUR (June 18): Serba Dinamik Holdings Bhd said its wholly-owned subsidiaries have secured several contracts.

Serba Dinamik International Ltd (SDIL) has won a three-year operations and maintenance (O&M) contract from Pavilion Qatar Engineering Co WLL worth US$60 million or RM250.62 million, the group said in a filing.

The contract, which commenced on May 20, has a one-year extension option.

Meanwhile, the group said Serba Dinamik Sdn Bhd (SDSB) has secured five O&M contracts from Petronas Chemicals Fertiliser Sabah Sdn Bhd, Malaysia Refining Company Sdn Bhd, Malaysia LNG Sdn Bhd, Kebabangan Petroleum Operating Company Sdn Bhd (KPOC) and PC Myanmar (Hong Kong) Ltd.

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.

SDSB also secured one engineering, procurement, construction and commissioning (EPCC) contract from Petroliam Nasional Bhd (Petronas).

Serba Dinamik said the seven contracts secured are expected to contribute positively to the group's earnings for the financial year ending Dec 31, 2019.

"The board of directors of the company is of the opinion that the above contracts secured are in the ordinary course of business and are in the best interest of the company," said Serba Dinamik.

Shares of Serba Dinamik closed one sen or 0.25% lower at RM4.04 today, bringing its market capitalisation to RM5.93 billion. Over the past 12 months, the stock grew 27.85% from RM3.16.