Serba Dinamik bags RM496m worth of contracts

PETALING JAYA: Serba Dinamik Holdings Bhd has secured RM496 million worth of engineering, procurement, construction and commissioning (EPCC) and operation and maintenance (O&M) contracts.

Under an EPCC agreement with Greenearth Landmark Sdn Bhd, Serba Dinamik’s whollyowned subsidiary Serba Dinamik Sdn Bhd (SDSB) has secured three EPCC contracts and one O&M contract from Greenearth Landmark worth RM385.00 million.

The three projects in the EPCC agreement are for two sewerage treatment plant (STP) facilities and a government building, with a tenure of 36 months for each project. The provision of O&M services for the first project (an STP) is for 10 years.

Additionally, SDSB secured one EPCC and three O&M contracts worth RM111 million from clients Malaysia LNG Sdn Bhd (EPCC & O&M), JX Nippon Oil & Gas Exploration (Malaysia) Ltd and Petronas Dagangan Bhd.

The jobs are for the fabrication and welding and rotating equipment maintenance services for Petronas LNG Complex, provision of weather forecast services for a drilling campaign, and the operations of terminal operators, maintenance and support services in Petronas Dagangan for Sarawak.

The contracts are expected to contribute positively to the group’s earnings for the financial years ending Dec 31, 2018 to 2027.

Serba Dinamik’s share price gained 12 sen to RM3.12 yesterday, with 6.547 million shares traded.