SERBA DINAMIK HOLDINGS BHD

SERBA Dinamik Holdings Bhd announced seven new contracts worth RM206mil. These contracts were for its operations and maintenance (O&M) segment, while four contracts were for new engineering, procurement, construction and commissioning (EPCC) projects.

RHB Research estimated that the new contracts will increase its current orderbook to RM5.3bil.

“The O&M contracts were awarded by Vestigo Petroleum for the provision of transport and offshore installation for the Bentara field, maintenance services for mechanical and rotating equipment for JX Nippon Malaysia and plant maintenance, repair, as well as overhaul for rotating equipment for Malaysia Refining company.

“The contract ranges from six months to three years,” said RHB Research.

The first EPCC contract from Eversendai is for the erection, fitting, resting and reinstalment of piping works while the second is for the installation of chiller, solar panels, air-conditioning systems and LED lighting systems for all Terengganu state government roads and buildings.

The third is from Lotus West for the installation of energy saving equipment for telecommunication exchanges in the southern and central region, while the final EPCC contract is a fabrication and welding project for Malaysia liquefied natural gas.

“We estimate the split between EPCC and O&M contracts to be 80:20 of the total amount.

Serba Dinamik also announced that it had entered into a memorandum of understanding to participate in the EPCC for the construction of Pengerang Eco-Industrial Park (PeIP), Pengerang International Commercial Centre, and Northshore Residences.

Construction work for PeIP is expected to take two years with a contract value of RM400mil.

Additionally, the company will also start construction of its new MRO and IRM centre in Bintulu. This is slated for completion in 2019 and cost RM200mil.