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Serba Dinamik wins 12 contracts in Malaysia, Indonesia and Oman

KUALA LUMPUR (Feb 4): Serba Dinamik Holdings Bhd said today that three of its subsidiaries have secured 12 new contracts — half of which is worth a combined US$78 million (approximately RM320.89 million), while the other half are on call-out basis.

The contracts worth US$78 million comprise one contract 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 scopes of contract include operation and maintenance (O&M), engineering, procurement, construction and commissioning (EPCC), and one for other products and services.

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 contracts to SDSB come with the option for one year extension.

“The contracts [for SDSB] 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 client, based on their activities’ schedules and rates throughout the duration of the respective contracts,” Serba Dinamik said.

Shares of Serba Dinamik closed 4 sen or 1.83% higher at RM2.22 today, giving the engineering group a market capitalisation of RM6.85 billion.