Serba Dinamik's share price up 2.78% after clinching RM1.4b Pengerang jobs

PETALING JAYA: Serba Dinamik Holdings Bhd's share price rose 2.78% this morning after it announced a collaboration with Izin Budi Sdn Bhd to develop RM1.4 billion worth of projects in Pengerang, Johor.
At 11.09am, its share price was up 6 sen to RM2.22 with a total of 5.86 million shares traded. The share price closed at RM2.16 last Friday.
Last Friday, the company told Bursa Malaysia that its wholly-owned subsidiary Serba Dinamik Sdn Bhd had entered into a memorandum of agreement (MOA) with Izin Budi to develop commercial and residential projects with a combined gross development value (GDV) of RM1.4 billion in Pengerang, Johor over five years.
Speaking to reporters at the signing of the MOA, Serba Dinamik CEO Datuk Dr Mohd Abdul Karim Abdullah said the company is hoping to rake in an annual profit equivalent to 10% of the projects' total GDV and an average of 15% from the GDV amount for its revenue throughout the duration of the developmental period.
To be developed on 132 acres of land, the projects entail the country’s first Global Centre of Excellence catered for the oil and gas sector, Pengerang Eco-Industrial Park (PEIP), Pengerang International Commercial Centre (PICC) and Pengerang Northshore Residence (PNR).
The first phase, which has a GDV of RM350 million, will be rolled out in 2018 and will be developed over two years.