News

Serba Dinamik aims to bid for contracts worth RM20 billion

KUALA LUMPUR, March 20 (Bernama) -- Oil and gas (O&G) service provider Serba Dinamik Holdings Bhd plans to bid for contracts worth RM20 billion across its operations this year.

Of them, 60 per cent will be in the oil and gas sector, followed by power generation (30 per cent) and other sectors (10 per cent).

Speaking to reporters on the sidelines of Invest Malaysia 2019 capital market forum here today, group chief executive officer Datuk Mohd Abdul Karim Abdullah said at the moment, 80 to 85 per cent of its revenue was derived from the O&G segment.

He said by year-end, the order book for the segment could rise to RM10 billion from the current RM8.3 billion.

"We believe RM10 billion is a good and achievable figure and will help to put the company on a good, strong financial position," he said.

He said the company was bullish over the industry growth, with Brent crude oil fluctuating between US$60 and US$70 per barrel this year.

Aside from Malaysia, the company is also operating in Africa, Middle East and the European Union.

-- BERNAMA

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