Serba Dinamik Holdings Berhad, a global integrated engineering services provider, through its wholly-owned subsidiary Serba Dinamik International LTD (SDIL), entered into an engineering, procurement, construction and commissioning (EPCC) contract with Nam Taep 1,2,3 Hydropower Company Limited, a company incorporated in Laos, whereby SDIL has secured one new EPCC contract valued at approximately RM268.5 million from Nam Taep.
The EPCC contract has commenced for a duration of up to 43 months, which involves the design, supply, construction, commissioning and completion of 3 X 5 megawatt (MW) Nam Taep 1 and 3 X 5MW Nam Taep 2 Hydropower Energy Generating Facilities located at Ban Nam Taep and Ban Nameuang, Xam Tai District, Houaphan province.
Group Managing Director / Group Chief Executive Director of Serba Dinamik Holdings, Dato’Dr. Ir. Mohd. Abdul Karim bin Abdullah said, “This collaboration with Nam Taep marks Serba Dinamik’s first step into Laos, and is in line with our strategy to increase our involvement in the energy market as well as to enlarge our market presence in SouthEast Asia. We currently have a total capacity of 120MW for hydropower plants.”
Additionally, SDIL announced the proposed subscription of 51,806,000 new ordinary shares, representing approximately 15% of the enlarged number of issued shares in Green & Smart Holdings PLC (GSH) for a total cash consideration of approximately RM 16.99 million. The Proposed Subscription is undertaken through an ongoing private placement exercise by GSH.
GSH is currently listed on the AIM Market of the LSE with business operations in Malaysia. GSH and its subsidiaries are principally involved in research and development, provision of professional engineering consultancy and process design services in the area of industrial biotechnology, pollution control and renewable energy, and EPCC of various waste water treatment plants/ systems and development, commercialisation, operation and maintenance of renewable energy power plants. Its core business is power generation from biogas captured through the treatment of palm oil mill effluent (POME) based on proprietary technology.
Dato’ Karim added, “The proposed subscription is in line with our plan to enlarge our business in asset ownership as well as to expand our EPCC business segment and capabilities. In addition, being a part of GSH gives us an opportunity to boost our involvement in EPCC works under the Group. To date, GSH through its wholly-owned subsidiary, Green & Smart Sdn Bhd, has awarded one EPCC contract to Serba Dinamik Sdn Bhd, in relation to a 2.7MW biogas power plant in Teluk Intan, Perak.”