This article first appeared in The Edge Financial Daily on February 5, 2020

KUALA LUMPUR: Serba Dinamik Holdings Bhd’s three subsidiaries have secured 12 new contracts — half of which were worth a combined US$78 million (RM320.89 million) while the other half are on call-out basis.

In a filing yesterday, the company said the contracts that are worth US$78 million comprised one in Oman for its wholly-owned unit Serba Dinamik International Ltd, and five contracts secured by 75%-owned indirect subsidiary PT Serba Dinamik Indonesia.

The contract’s scope includes operation and maintenance (O&M), engineering, procurement, construction and commissioning, and one for other products and services, the group said.

The other six contracts were awarded to Serba Dinamik’s wholly-owned Malaysian subsidiary Serba Dinamik Sdn Bhd (SDSB), comprising five O&M contracts and one for other products and services.

Three of the contracts to SDSB come with the option for a one-year extension.

“The contracts [for SDSB] have no specific value as they are on a ‘call-out’ basis whereby the work orders will be awarded at the discretion of the client based on their activities’ schedules and rates throughout the duration of the respective contracts,” Serba Dinamik said.