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Serba Dinamik bags RM7.71b construction job in Abu Dhabi

KUALA LUMPUR (April 15): Serba Dinamik International Ltd (SDIL), a wholly-owned unit of Serba Dinamik Holdings Bhd, has bagged a RM7.71 billion construction contract in Abu Dhabi.

In a filing with Bursa Malaysia today, Serba Dinamik said SDIL had, on April 12, 2020, received and accepted a letter of award from Block 7 Investments LLC to undertake the engineering, procurement and construction of innovation hub, academic campus, related facilities and information technology (IT) infrastructure in Abu Dhabi.

“The project shall cover three areas of interest, namely the innovation hub which includes the development of offices, restaurants, exhibition centres and IT centres.

“It shall also cover an academic campus and accommodation which includes apartments and hotels, over a total built-up area of 455,000 square meters,” it said.

According to Serba Dinamik, the project forms part of Block 7’s initiatives to create a global incubator for the advancement of innovators for the technology, property, financial, as well as energy sector and positioned it as a new landmark for Abu Dhabi.

It added that the scope of work includes but not limited to design, engineer, procure, supervise, manage, supply, transport, construct, commission, and the remedying of any defects in connection with the project.

Serba Dinamik said both SDIL and Block 7 agreed works should be completed within 1,460 days from the commencement date of May 14, 2020.

“The award will not have any effect on the issued share capital and the shareholdings of the substantial shareholders of the company. 

“It is expected to contribute positively to the net assets, consolidated earnings and earnings per share of the company for the financial year ending Dec 31, 2020,” it said.

At the lunch break, Serba Dinamik’s share stood at RM1.59, up five sen from yesterday’s close of RM1.54 with 3.77 million shares changed hands.

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