Serba Dinamik buys RM320 million Teluk Ramunia yard from Petronas

 

KUALA LUMPUR – Serba Dinamik Holdings Bhd has secured a RM 320 million deal with Petroliam Nasional Bhd’s (Petronas) to acquire the Teluk Ramunia fabrication yard in Johor.

The deal comprises of 68.78-hectare yard capacity to perform steel fabrication of offshore platforms and other structures of up to 50,000 tonnes.

“Due to its close proximity with Petronas’ Refinery and Petrochemical Integrated Development (RAPID), the proposed acquisition represents an opportunity for Serba Dinamik group to venture into the marine and offshore services segment in a strategic location.

“These opportunities lie not only in Malaysia but across the region and the Middle East. With the agreement and other internal enhancements, we will be able to further expand our capabilities.

“These facilities will assist in enabling various contract securements, therefore strengthening both our onshore and offshore activities and further improving our value chain in maintenance and EPCC jobs,” said in a filing with Bursa Malaysia as reported in Bernama.

The company had plenty of opportunities to expand its engineering, procurement, construction, and commissioning (EPCC) capabilities, Serba Dinamik group managing director and group chief executive officer Datuk Dr Ir Mohd Karim Abdullah added.

Established in 1993, Serba Dinamik, through its subsidiaries, provides engineering solutions servicing to the oil and gas and power generation industries with operations in Malaysia, Indonesia, United Arab Emirates, Bahrain and the UK.

The group posted a higher net profit of RM133.60 million for the first quarter ended March 31, 2020, up 18.9% from RM112.37 million a year earlier, as all its business segments registered growth.