KUCHING: Serba Dinamik International Ltd (SDIL) has secured a contract worth US$250.3 million (RM1.05 billion) for the construction of a chlorine processing plant and an independent power plant in Uzbekistan. In Malaysia, its sister company Serba Dinamik Sdn Bhd (SDSB) has won two operation and maintenance (O&M) contracts from Petronas Carigali Sdn Bhd. These two contracts are based on a ‘call-out’ basis whereby the work orders will be awarded by the client. Both SDIL and SDSB are wholly-owned subsidiaries of Serba Dinamik Holdings Bhd.
The Uzbekistan contract is
for the engineering, procurement, construction and commissioning (EPCC) of a 90-ton per day chlorine processing plant at Hazarasp Free Economic Zone at the Khorezm Region and a 26MW per hour steam turbine independent power plant, Serba said in a filing with Bursa Malaysia.
The contracts from Petronas Carigali is for the provision of maintenance services for a Weir gas compressor (duration from June 10, 2019 to June 9, 2020) and provision of maintenance of a Capstone microturbine generator (June 18, 2019 to June 17, 2022). The work orders for the two contracts will be awarded at the discretion of the client based on its activities’ schedules and rates throughout the duration of the contracts, said Serba.
“The contracts secured will not have an effect on the issued share capital and the shareholdings of the substantial shareholders of the company. “The contracts secured are expected to contribute positively to the SDHB group’s earnings for the financial year ended December 31, 2019,” it added.
The latest three contracts were secured barely two months after Serba group won seven contracts, including one in Qatar. The Qatar contract secured by SDIL in June is for the repair, overhaul and maintenance of pumps, compressors, gearboxes and other associated rotating equipment with manpower and spare parts worth US$60 million (RM250.62 million) for Pavilion Qatar Engineering Co W.L.L.
The contract duration is from May 20, 2019 to May 20, 2022, with a one year extension option. One of the other six contracts secured by SDSB in Malaysia is for the provision of minor construction and modification works for Petronas (onshore) Package B and C under the EPCC segment. The other five contracts are all O&M contracts for clients Petronas Chemicals Fertiliser Sabah Sdn Bhd, Malaysia Refining Company Sdn Bhd, Malaysia LNG Sdn Bhd, Kebabangan Petroleum Operating Company Sdn Bhd and PC Myanmar (Hong Kong ) Ltd.
Meanwhile, Serba’s deputy group managing director Datuk Awang Daud Awang Putera has disposed of four million company shares priced between RM4.07 and RM4.09 each in the open market on Aug 9. His shareholding in Serba now stands at some 150 million units or 10.42 percent.
