The share price of Serba Dinamik Holdings Bhd appeared to show an increase of 5% or two sen to 42 sen in the trading session on Bursa Malaysia today.
The increase was driven by an announcement from Serba Dinamik stating the ownership of contracts worth RM286.3 million ($ 67.7 million) from Malaysian and international customers.
Around 10.26am, Serba Dinamik shares were seen rising to 41.5 sen with 24 million units of shares traded.
At 41.5 sen, the company earned a market value of around RM1.54 billion based on 3.71 billion shares issued.
Through its subsidiary, they have secured two contracts from oil and gas company PT Pertamina EP in Indonesia and three contracts from Gas Malaysia Distribution Sdn Bhd.
The Serba Dinamik submission includes details on seven Malaysian contracts of no particular value and the group has also secured contracts from Hydro Village Private Ltd for a hydropower project in Nepal.
Looking at the contract, it covers oil and gas support services agreements with customers including Petronas Dagangan Bhd and Shell MDS (M) Sdn Bhd.
Public Invesment Bank Bhd analyst Nurzulaikha Azali stated that the projects are estimated to generate a profit margin of around 17% at a gross level.
Assessing to the current level, the Serba Dinamik share price seems to have declined from the price level of around RM1.61 that was recorded on 25 May 2021.
