KUALA LUMPUR: Integrated engineering services provider Serba Dinamik Holdings Bhd announced yesterday it has secured five new jobs, two of which have a combined estimated value of US$163 million or about RM682.81 million.

The two jobs are an engineering, procurement, construction and commissioning (EPCC) contract related to a gas pipeline project in Turkmenistan; and an operations and maintenance (O&M) job for pumps, compressors and other rotating equipment, together with manpower and spare parts, in Oman.

The EPCC job was awarded by state oil company Turkmengas and started on Sept 13, while the O&M’s client is Revenue International llc, Serba Dinamik said in a statement yesterday.

The second contract started on Aug 14 and will be completed in three years.

Meanwhile, the other three contracts comprise two O&M and one EPCC jobs secured locally. No specific values for these contracts were provided.

The three-year O&M jobs were secured from SEA Hibiscus Sdn Bhd and Petroliam Nasional Bhd (Petronas), with the former relating to the provision of mechanical rotating maintenance services, while the latter is for the appointment of panel contractors to provide mechanical rotating equipment services and parts to Petronas’ group of companies and petroleum arrangement contractors.

Both carry a one-year extension option.

“The O&M contracts above have no specific value as the contracts are on a ‘call-out’ basis whereby the work orders will be awarded at the discretion of the clients based on its activities schedules and rates throughout the duration of the contracts," Serba Dinamik said.

The EPCC contract, secured from Asean Bintulu Fertilizer Sdn Bhd (ABF), is for the provision of basic and detailed EPCC for the ABF Third Boiler Project in Bintulu, Sarawak.

“With the new securement of EPCC contract in Turkmenistan and O&M contract in Oman, we will further strengthen our foothold in Central Asia and the Middle East ... we foresee this contributing positively to our financial year ending Dec 31, 2019 and the upcoming two years,” said Serba Dinamik group managing director and group chief executive director Datuk Dr Mohd Abdul Karim Abdullah.

Serba Dinamik shares closed unchanged at RM4.35 yesterday, valuing the company at RM6.39 billion. The stock, which ranged between RM3.55 and RM4.56 in the past 52 weeks, is up 8.5% from a year ago.