KUALA LUMPUR: Serba Dinamik International Ltd (SDIL), a wholly-owned unit of Serba Dinamik Holdings Bhd, has bagged a RM7.71 bil construction contract in Abu Dhabi.
In filing with Bursa Malaysia today, Serba Dinamik said SDIL had, on April 12, received a letter of award from Block 7 Investments LLC to undertake the engineering, procurement and construction of an innovation hub, academic campus, related facilities and information technology (IT) infrastructure in Abu Dhabi.
The innovation hub includes the development of offices, restaurants, exhibition centres and IT centres, while the academic campus and accommodation include apartments and hotels over a total built-up area of 455,000 sq m,” 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 position it as a new landmark for Abu Dhabi.
It added that the scope of work includes to design, engineer, procure, supervise, manage, supply, transport, construct, commission, and remedy any defects in connection with the project.
Serba Dinamik said both SDIL and Block 7 agreed that the works should be completed within 1,460 days from May 14.
“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 changing hands. – April 15, 2020, Bernama
