Serba Dinamik Bags RM548m Worth Of Jobs In Indonesia, India

Energy services group Serba Dinamik Holdings Bhd has won US$135.8 million (RM548.2 million) worth of contracts in Indonesia and India.

Serba Dinamik said the contracts include eight operations and maintenance (O&M) jobs won by its 75%-owned subsidiary PT Serba Dinamik Indonesia in Indonesia.

Additionally, its India-based wholly-owned unit SDIT International Ltd secured one information and communications technology (ICT) contract in India.

Meanwhile, its local wholly-owned unit Serba Dinamik Sdn Bhd has secured one O&M contract and one engineering, procurement, construction and commissioning contract in Malaysia.

However, the two contracts have no specific values affixed as they are on a “call-out” basis, where work orders will be issued as and when needed.

In a bourse filing, Serba said the contracts secured will not have any effect on the issued share capital and the shareholdings of the substantial shareholders of the company.

“The contracts secured are not expected to have any material effect on the net assets of Serba and its group of companies for the financial year ending Dec 31, 2021 (FY21). The contracts secured are expected to contribute positively to the group’s earnings for FY21,” Serba said.

In a separate statement, Serba Dinamik managing director and chief executive officer Datuk Dr Mohd Abdul Karim Abdullah said the contract wins will strengthen its order book.

“We were granted five O&M projects from PT Pilar Bahtera Energi, the leading uninterrupted power supplier in Indonesia, which enable us to participate in the power industry in Indonesia. We were also awarded an ICT project in India for implementation of smart solutions for the development of a smart and safe city.

“These new contracts will definitely give us the push to gear up to another productive year and we are confident that the group will continue to deliver promising financial results for FY21. It is also testimony to our experience and expertise that we continue to secure and deliver projects in both the domestic and overseas markets,” he said.

Shares in Serba Dinamik finished 1.82% or three sen lower at RM1.62 today, valuing it at RM5.49 billion. It saw 19.91 million shares done.

Source: The Edge

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