Serba Dinamik bags RM268m Laos contract

PETALING JAYA: Serba Dinamik Holdings Bhd’s wholly owned subsidiary Serba Dinamik International Ltd has secured a US$66.2 million (RM268.8 million) engineering, procurement, construction and commissioning contract from Laos-based Nam Taep 1, 2, 3 Hydropower Co Ltd.

The contract commenced today and is set to go on for up to 43 months, and involves the design, supply, construction, commissioning and completion of 3 x 5MW Nam Taep 1 and 3 x 5MW Nam Taep 2 hydropower energy generating facilities at Ban Nam Taep and Ban Nameuang, Xam Tai District in Houaphan Province of Laos.

The contract is expected to contribute positively to the group’s earnings for the financial years ending Dec 31, 2019 to Dec 31, 2022.

“This collaboration with Nam Taep marks Serba Dinamik’s first step into Laos, and is in line with our strategy to increase our involvement in the energy market as well as to enlarge our market presence in Southeast Asia. We currently have a total capacity of 120MW for hydropower plants,” said group managing director Datuk Dr Ir Mohd Abdul Karim Abdullah in a statement.

In a separate filing, Serba Dinamik said it has subscribed to 15% of Green & Smart Holdings PLC’s share capital for RM16.99 million.

Green & Smart Holdings is listed on the Alternative Investment Market of the London Stock Exchange with business operations in Malaysia.

Green & Smart Holdings and its subsidiaries are involved in power generation from biogas captured through the treatment of palm oil mill effluent based on proprietary technology.

Abdul Karim said the subscription is in line with the group’s plan to enlarge its asset ownership business and expand its EPCC business segment and capabilities.
Green & Smart Holdings through its wholly owned subsidiary Green & Smart Sdn Bhd has awarded one EPCC contract to Serba Dinamik Sdn Bhd, in relation to a 2.7MW biogas power plant in Teluk Intan, Perak.

On Bursa Malaysia today, Serba Dinamik gained 0.28% to close at RM3.56 on volume of 5.82 million shares.