Serba Dinamik group bags six new contracts

The company, listed on Feb 8 as the year

PETALING JAYA: Serba Dinamik Holdings Bhd’s subsidiaries have secured six operations and maintenance (O&M) contracts for the oil and gas industry valued at RM522.92mil.

It said yesterday that of the six, Serba Dinamik International Ltd was awarded two new projects by Agility Energy FZE to be undertaken in the United Arab Emirates. The combined contract value is RM420.42mil.

The first contract is to provide maintenance, repair and overhaul (MRO) for offshore and onshore pumps, turbines, compressors and other associated rotating equipment. The second is to provide boiler and unfired pressure vessels; major upgrades, repair and maintenance and also manpower.

The contract period is from July 15 this year to July 14, 2020.

Serba Dinamik explained that O&M contracts usually did not have a specified contract value by nature. It derived the value based on its internal estimation of the historical records for similar types of projects or contracts.

It also said Serba Dinamik Sdn Bhd had secured one new project from Malaysia LNG Sdn Bhd and three extension projects from PRPC Utilities and Facilities Sdn Bhd, Petronas Gas Bhd and Murphy Sarawak Oil Co at an estimated total value of RM102.50mil.

Serba Dinamik said the new contracts are expected to strengthen the group’s position among the top MRO service providers domestically and internationally.

The contracts are expected to contribute positively to the group’s earnings for the financial year ending Dec 31, 2017 to 2020.