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Serba Dinamik up 1.01% on securing jobs worth RM512.17m

KUALA LUMPUR (Oct 26): Serba Dinamik Holdings Bhd shares rose 1.01% in early trade this morning after it secured a total of 13 operations and maintenance (O&M) contracts worth an aggregate sum of at least RM512.17 million.

At 9.15am, Serba Dinamik rose 4 sen to RM3.99 with 97,300 shares traded.

Four contracts were awarded to its wholly-owned subsidiary Serba Dinamik International Ltd (SDIL) for O&M works in the Middle East, and another nine local contracts to its wholly-owned Serba Dinamik Sdn Bhd (SDSB) to be carried out on a “call-out” basis.

Duration of the contracts range from one to three years. Some have commenced as early as June this year.

Serba Dinamik said the contracts secured are expected to contribute positively to the group’s earnings for its current financial year ending Dec 31, 2018.

Meanwhile, RHB Retail Research said Serba Dinamik may rise higher after recording a higher close vis-a-vis the previous session.

In a trading stocks note today, the research house said the upward move may persist after the stock climbed above the 55-day SMA line.

“A bullish bias may emerge above the RM3.90 level, with an exit set below the RM3.70 threshold.

“Towards the upside, the immediate resistance is at RM4.28. This is followed by the RM4.50 level,” it said.