Snippets
Serba Dinamik secures contracts worth RM1.05b
Focus Malaysia 14 Aug 2019 11:48

 Serba Dinamik Holdings Berhad (“Serba Dinamik Holdings” or “Company”), a global integrated engineering services provider, through its wholly-owned subsidiary, Serba Dinamik International Ltd (“SDIL”) and Serba Dinamik Sdn. Bhd. (“SDSB”), today announced the successful securement of total one (1) engineering, construction and commissioning (“EPCC”) and two (2) operations and maintenance (“O&M”) contracts.

The contract secured under SDIL is as follows:

Contract Title

Client

Duration

Segment

Country

Engineering, Procurement, Construction & Commissioning (EPCC) for 90 Ton Per Day Chlorine Processing Plant at Hazarasp Free Economic at the Khorezm Region, Republic of Uzbekistan & 26MW/h Steam Turbine Independent Power Plant

Hazarasp Chlor Alkali LLC FC

8 August 2019 - 7 August 2021

EPCC

Uzbekistan

The estimated contract value of the contract secured above, by SDIL is USD250.30 million (which is equivalent to RM1.05 billion) (based on the exchange rate of USD1.00: RM4.1845)

The list of contracts secured under SDSB is as follows:

Contract Title

Client

Duration

Segment

Country

Provision of Maintenance Services for Weir Gas Compressor for Petronas Carigali Sdn Bhd

Petronas Carigali Sdn Bhd

10 June 2019 - 9 June 2020

O&M

Malaysia

Provison of Maintenance of Capstone Microturbine Generator for Petronas Carigali Sdn Bhd

Petronas Carigali Sdn Bhd

18 June 2019 - 17 June 2022

O&M

Malaysia

The O&M contracts above have no specific value as the contracts are on a “call-out” basis whereby the work orders will be awarded at the discretion of the clients based on its activities schedules and rates throughout the duration of the contracts.

Group Managing Director / Group Chief Executive Director of Serba Dinamik Holdings, Dato’ Dr. Ir. Mohd. Abdul Karim bin Abdullah (“Dato’ Karim”) expressed, “The securement of the new EPCC contract in Uzbekistan will  further strengthen our foothold in that region. The duration of its contract will last until 2021 with total value of RM1.05 billion. Having said that, we foresee this will contribute positively to our Financial Year Ending 31 December 2019 and the upcoming two years.”

Serba Dinamik Holdings is currently trading on the Main Market of Bursa Malaysia Securities Berhad under the stock name SERBADK and stock code 5279.



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