Serba Dinamik denies contract allegation

PETALING JAYA: Serba Dinamik Holdings Bhd has denied there was any element of related-party transaction in the undertaking of Block 7 Investments LLC when its Abu Dhabi project win was first announced in April last year.

In a filing with Bursa Malaysia, the company also said Block 7 was incorporated in Abu Dhabi, United Arab Emirates, and not in the US as reported in a business weekly.

To recap, on April 12, 2020, its wholly-owned subsidiary Serba Dinamik International Ltd said it had bagged a US$1.78bil (RM7.3bil) contract from Block 7 for the engineering, procurement and construction of an innovation hub, academic campus, related facilities and information technology infrastructure in Abu Dhabi. — Bernama

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