Serba Dinamik Holdings Berhad, a global integrated engineering services provider listed on Bursa Malaysia Main Board, through its wholly-owned subsidiary, Serba Dinamik Sdn. Bhd., today announced the successful securement of seven new operations and maintenance ("O&M") contracts and one new engineering, procurement, construction and commissioning ("EPCC") contract.
The EPCC project involves the Littoral Combat Ship Programme Ship 2 to Ship 6 awarded by Kinta Switchgear Sdn Bhd.
The O&M contract in Kazakhstan is for the provision of maintenance services and equipment of buildings and offices in Karachaganak Field for Hadid Engineering (M) Sdn Bhd. The contract is for the period of between 2018 and 2021 and is the company's first contract in Kazakhstan. Concurrently, Serba Dinamik has also secured similar O&M contracts in United Arb Emirates and Bahrain.
PT Serba Dinamik Indonesia, the wholly-owned subsidiary of the Company also secured three new O&M contacts and two new EPCC contracts. A new EPCC contract in Indonesia involved the design and commissioning of a 800kW electricity combined cooling and heating (fuel liquefied natural gas) at Pertamina Balikpapan Hospital.
The combined total contract value of the 13 contracts announced is estimated to be of approximately RM465.1 million (S$156.8 million). These contracts will keep Serba Dinamik occupied for the next two decades.
In Malaysia, Serba Dinamik ranks in the top three service providers for maintenance, repair and overhaul (MRO) of rotating equipment and in the top four service providers for inspection, repair and maintenance (IRM) of static equipment. Established in 1993, Serba Dinamik Holdings, through its subsidiaries, provides engineering solutions servicing to the oil and gas and power generation industries with operations in Malaysia, Indonesia, United Arab Emirates, Bahrain and United Kingdom. Serba Dinamik Holdings is an investment holding company and is principally involved in the provision of management services.
Group Managing Director & Group Chief Executive Director of Serba Dinamik Holdings, Dato’ Dr. Ir. Mohd. Abdul Karim bin Abdullah expressed, “With the recent securement of these new contracts, we are strengthening our foothold in Indonesia and one of the EPCC contracts will keep us busy until 2033. We are pleased that this project will contribute towards enhancing our earnings for a long term as well as brings us one step closer to our internal target for this year.”
“We have also managed to enter Kazakhstan through our first work contract there, which further strengthens our foothold in Central Asia. We are optimistic and confident that there will be more opportunities to enlarge our market presence in the region,” Dato Karim added.
The company had also recently announced three acquisitions, namely KB Engineering Coatings Sdn Bhd, Singapore's CSE Global Ltd and United Arab Emirate's Al Sagar Engineering LLC, to expand its business and revenue stream. Presently, its overseas business contributed 65% to the company's revenue.