Serba Dinamik eyes more contract

KUALA LUMPUR: Oil and gas solutions provider Serba Dinamik Holdings Bhd, which made its debut on the Main Market of Bursa Malaysia today, is looking to secure more contracts this year, as it expects an increase in demand for its services given the recovery in the crude oil prices.

Its shares opened at RM1.53 sen, for a premium of three sen, with 4.25 million shares traded.

Speaking to reporters after its listing ceremony today, Serba Dinamik managing director and CEO Datuk Ir Mohd Karim Abdullah said the group has up to now tendered for about RM5 billion worth of engineering procurement construction commissioning (EPCC) jobs in Pengerang, Johor.

Mohd Karim said the group was awaiting the outcome of its bids, which is expected to be revealed within the next six months.

Through the IPO, the group raised proceeds of RM407.1 million from the public issue of 271.4 million shares, which will mainly be used for its business and operational facilities expansion.