KUALA LUMPUR: PublicInvest Research maintained its outperform call on Serba Dinamik Holdings Bhd with an unchanged target price of RM4 following the announcement of seven new contract worth RM830.9mil for the group.
"We are naturally enthused over this announcement as it highlights Serba Dinamik’s capabilities in either extending its ongoing contracts and/or securing new awards. We make no changes to our forecasts as these make up part of our order book replenishment assumptions."
Serbe Dinamik also announced the RM2mil acquisition of the entire stake in KB Engineering Coatings Sdn Bhd, which is involved in the service and repair of machinery and sale of spare parts as part of its expansion plans.
The seven new contracts secured by the group comprise of two engineering, procurement, constrtuction and commissioning works and five operations and maintenance contracts.