20. DATUK MOHD ABDUL KARIM ABDULLAH, ABDUL KADIER SAHIB AND DATUK AWANG DAUD AWANG PUTERA Flagship: Serba Dinamik Holdings Bhd Net worth: RM2.96bil

SERBA Dinamik Holdings Bhd has been one of the darlings of the listed oil and gas services companies since its listing in 2017. The listing had thrust Serba Dinamik’s three largest shareholders into the limelight and into Malaysia’s top-40 richest list. Recall that Datuk Mohd Abdul Karim Abdullah, Abdul Kadier Sahib and Datuk Awang Daud Awang Putera gained a net worth of RM2.499bil as at Dec 31, 2017, following the listing of the company that year.

That wealth has grown by almost 20% to hit RM3bil nudging them up by three spots.

Analysts continue to favor the stock, with Bloomberg data showing nine buy calls of the total 10 researchers covering it.

The company provides engineering solutions to the oil and gas (O&G), power generation and utilities industries in Malaysia, Indonesia, the Middle East and the UK.

Just this week, Karim, the CEO, told the media that the company is targeting to hit a revenue of RM4bil for FY19.

For FY18, the company recorded an impressive 20.6% increase year-on-year in revenue to RM3.28bil.

The company has continuously managed to win new jobs. Its order book now stands at RM8.3bil, with a target of hitting RM10bil this year. The company is currently bidding for almost RM20bil worth of contracts globally, such as in Africa, the Middle East, Europe and Malaysia.

While O&G still remains Serba Dinamik’s largest revenue contributor at 80% to 85%, the company aims to reduce its dependency on the sector and is looking at increasing its contribution from the power generation industry.

In reiterating its buy call on Serba Dinamik, RHB Research recently noted that the company’s operations and maintenance business is expected to maintain its performance this year, with Middle East demand for its services remaining robust, even as it continues to penetrate into the Africa and Central Asia markets.

The EPCC division, on the other hand, is expected to record a stronger performance this year, with the construction of multiple projects set to be ramped up, totaling RM1bil.