Taking a chance on yourself

Unhappiness with long meetings and a routine life made Datuk Mohd Abdul Karim Abdullah take the initiative to form his own company. Today, he is among the 50 richest Malaysians.

MERDEKA is a day of national pride, celebrated each year with much pomp and pageantry.

But as the country commemorates its independence from British colonial rule in 1957, Datuk Mohd Abdul Karim Abdullah thinks we also need to focus on what’s needed to take the country forward.

To the founder of oil and gas (O&G) engineering firm Serba Dinamik Holdings Bhd, what really takes the country forward is when her people can have a critical mind of their own – kemerdekaan minda as they call it – and exercise it accordingly in their line of work.

“Independence of mind is more important than physical independence,” Abdul Karim says.

“Malaysians need to have this independent mindset to be able to think as leaders or captains in their respective field and elevate society.”

The Malaysian entrepreneur’s life story is a rags-to-riches tale.

Born eight years after Merdeka to a family of farmers, Abdul Karim knows what it is like growing up poor. He spent his childhood helping his parents farm watermelons, working hard under the hot sun day in, day out, with little time to play with friends or study.

But instead of letting those early challenges define his future, Abdul Karim worked hard to find a way to break out of the cycle of poverty.

“My tough childhood taught me a valuable lesson about earning money. Working hard is the norm to earn a living and quality time management is essential to meet end goals,” he shares.

Today, Abdul Karim is ranked 48th on the Forbes 2018 list of the 50 richest Malaysians. He is a new entrant based on his estimated net worth of US$310mil (RM1.3bil).

This followed the listing of Serba Dinamik in February 2017. From an initial public offering price of RM1.50, the company’s shares price had more than doubled to RM3.24 by the end of 2017, giving it a market capitalisation of RM4.33bil.

Abdul Karim owns a 23.2% stake in the company.

An engineer by training, he founded Serba Dinamik in June 1993. He currently helms the company as its group managing director/chief executive officer.

Abdul Karim holds a bachelor degree in mechanical engineering from Universiti Teknologi Malaysia. He obtained an honorary PhD in industrial engineering from InterAmerican University in the United States in 2009 and a PhD in Entrepreneurship from Golden State University, also in the United States, in 2012.

He has been a member of the Institution of Engineers Malaysia since 1994, a member of the Board of Engineers Malaysia since 1996 and a member of the Asean Federation of Engineering Organisation since 2002.

Prior to forming Serba Dinamik, he worked as a maintenance engineer specialising in rotating equipment. It was his unhappiness at his workplace due to the vast amount of time spent on meetings that compelled him to strike out on his own.

He went on to set up Serba Dinamik because he wanted to get hands-on engineering experience. On why he chose to specialise in the O&G industry, Abdul Karim unabashedly says it is a bullish industry that offers a good payroll.

However, the journey has not always been smooth sailing.

In the early years of the company, Abdul Karim ran into financial difficulties and was sued for failing to contribute to the staff’s Employees Provident Fund.

“It happened in the third year of operations when the company was still in the early stage of development.

At the time, cashflow was tight and not many banks were willing to provide financing to companies like us,” he shares.

“But with financial support from family members, more cautious spending and a proper management system, the company overcame the problem and prevented it from recurring again.”

Serba Dinamik has since evolved into an integrated energy services provider that oversees civil and mechanical engineering, instrumentation and control systems. Besides O&G, the group is now also focused on the power generation and water sectors.

Besides Malaysia, Serba Dinamik is also based in Indonesia, with new markets in other South-East Asian countries such as Laos, Myanmar and Vietnam. The group also has a presence in the United Arab Emirates, Bahrain and the United Kingdom.

Abdul Karim’s aim is to position Serba Dinamik firmly as a reputable multinational corporation.

Under his leadership, the group is aggressively expanding overseas.

His experience is proof that every Malaysian can achieve their dreams regardless of their family background as long as they have the right attitude and are willing to work hard.

“To be successful, one needs to adopt a smart offensive culture and move out from his or her comfort zone,” he argues.

Abdul Karim is also hopeful that the new government led by Pakatan Harapan will put Malaysia on a stronger footing through its various reform initiatives.

“The new government is setting up a strong foundation to get the country to become a well-developed nation,” he says.

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