kuala lumpur


Excitement over possible Japan’s bullet train debut

KUALA LUMPUR: A Member of Parliament from Johor is all excited about the possible entry of the Shinkansen, Japan’s world-famous bullet train system, in Malaysia amidst its ongoing strong bid to win the contract to build the Kuala Lumpur-Singapore High-Speed Rail (HSR) project. Anuar Manap, the MP for Sekijang, said the benefits of the HSR […]

Serba Dinamik in talks to expand training programme to Senegal

KUALA LUMPUR: Engineering services provider Serba Dinamik Bhd, whose share price has more doubled since its listing on Bursa Malaysia a year ago, has identified West African country Senegal as the expansion target for its training programme.

“It is not a firm order, we are negotiating to set up a technical and vocational education and training programme. They (Senegal) are very keen if an entity like Serba Dinamik can come in to upskill their manpower and their citizens,” the group CEO Datuk Abdul Karim Abdullah (pix) told SunBiz recently about its plans to expand to Senegal.

The group provides technical and vocational education and training services for the oil and gas sector as well as petrochemical industry-related skills.
Abdul Karim believes that a skilled local workforce is important and cost efficient compared to bringing in foreign labour.

Recalling the group’s initial footing, he said the group ventured into training and skills development three years after its inception in 1996.

Serba Dinamik is predominantly involved in operations and management (OM) and engineering, procurement construction and commissioning (EPCC). It also has interest in IT solutions.

Geographically, Serba Dinamik has footprints in several countries including Indonesia, Turkmenistan, India, Bahrain, the United Arab Emirates, Qatar, Oman, Saudi Arabia, Kuwait and the UK. Currently it is weighing possibilities of expanding its coverage to avoid overdependence on a particular country.

For the IT segment, plans are afoot to roll out the Malaysia Third Party Administrator (myTPA) platform by the end of the month, an online management system which serves as a payment regulating platform between panel clinics and companies developed in collaboration with Malaysian Islamic Doctors Organisation.

Abdul Karim expects the group to rake in RM200 million in revenue in the next three years with the rollout of the product.

As for its QR code-based parking payment application, QuickParking, Abdul Karim said Serba Dinamik is engaging with relevant parties to expand the use of the system to public transport.

The group has been enjoying a good run with the support from its two major income contributors. The OM segment accounted for 84.26% or RM671.89 million of total revenue of RM797.37 million, while the EPCC segment contributed 15.5% or RM123.47 million.

As at mid-February, the group’s order book stood at RM6 billion.

Recently Serba Dinamik proposed to acquire a 40% stake in Maju RE Sdn Bhd, Maju RE (Talang) Sdn Bhd and Maju RE (Temenggor) Sdn Bhd from Maju Holdings Sdn Bhd, which currently owns a 70% stake in these three target companies. The rest is held by Perak Hydro RE Corp Sdn Bhd.

Abdul Karim said the power generation venture is in line with the group’s asset ownership model, which is key in generating steady recurring income in the long term, as OM contracts, though recurring at this point, do not ensure longevity.

Meanwhile, with a 30% stake in One River Power Sdn Bhd, which is mandated to develop a 30MW hydropower plant in Kota Marudu, Sabah, Serba Dinamik is hoping to increase its total capacity of power generation assets to 200MW this year.

On Bursa Malaysia last Friday, Serba Dinamik gained 1 sen or 0.29% to RM3.47 on volume of 1.84 million shares. 

PNB funds reach RM279b, 98pc invested locally

KUALA LUMPUR, March 18 — Permodalan Nasional Bhd (PNB), established some 40 years ago, is today the country’s largest fund manager, managing funds worth RM279 billion, said its Group Chairman, Tan Sri Abdul Wahid Omar. He said 98 per cent of…

CO3 and Medini Iskandar set to create ‘world’s most liveable work space’

KUALA LUMPUR, March 18 — Bursting into the local start-up scene last year, CO3 Social Office Sdn Bhd is now collaborating with Medini Iskandar Malaysia (MIM) to develop what it ambitiously calls the “world’s most liveable work space.” The…

Gaining altitude in the Malaysian aerospace

The sky’s the literal limit for Malaysia’s aerospace industry, being designated by the government as a strategic sector with high growth potential in the country’s industrialisation and technological development programmes. Globally, aircraft production is expected to reach 41,030 units and valued at US$6.1 trillion – excluding regional jets – over the next 20 years. Malaysia […]

Ringgit to trade higher against greenback next week

KUALA LUMPUR: The weakening sentiment for the US dollar will likely help to boost the demand for the ringgit next week, to trade between 3.88-3.92 against the greenback, a dealer said.

He said mounting concerns over the political turmoil in the US, including President Donald Trump's decision to replace the National Security Advisor, H.R. McMaster and to fire the Secretary of State, Rex Tillerson, had negatively weighed on interest for the safe-haven currency.

“This will help boost sentiment for other currencies, especially the emerging market currencies.

“Nevertheless, fears of a potential trade war would likely reduce the appetite globally,” he told Bernama.

Earlier this week, Trump had announced that the country would impose tariff on up to US$60 billion (US$1 = RM3.92) of Chinese imports, specifically targeting the technology and telecommunications sectors.

The White House said the move was to pressure China into cutting its trade surplus with the US by US$100 billion.

On a Friday-to-Friday basis, the local note finished firmer against the greenback at 3.9070/9120 from 3.9100/9140 the previous week.

The ringgit had started the week higher, spurred by upbeat local economic reports and weaker performance of the greenback.

Worries over increased protectionism under the Trump administration had muted risk appetite globally, including for the ringgit, thus pushing the currency to retreat.

However, the local unit rebounded following the emergence of fresh political concerns at the White House.

Meanwhile, the ringgit was traded mostly lower against a basket of major currencies.

It fell against the Singapore dollar to 2.9761/9810 from 2.9653/9694 last Friday and declined against the yen to 3.6953/6010 from 3.6610/6662 last week.

The ringgit depreciated against the euro to 4.8138/8215 from 4.8093/8158 last Friday and weakened vis-a-vis the British pound to 5.4565/4643 from 5.3997/3060 previously. — Bernama

Ringgit closes higher as dollar falls

KUALA LUMPUR, March 16 — The ringgit rebounded to close higher against the US dollar today on fresh concerns over the political turmoil in the US, a dealer said. At 6pm, the local note was quoted at 3.9070/9120 against the US dollar compared…

Flipbizz aims to take businesses beyond LinkedIn, Facebook

KUALA LUMPUR, March 16 — Big Centure Sdn Bhd and Styleicon Prestige launched today a business and social networking app to expand networking and to get consumers to buy from brick-and-mortar businesses. The app Flipbizz allows business owners…

Bursa ends higher on equities demand

KUALA LUMPUR, March 16 — Bursa Malaysia closed marginally higher today on increased equities demand, after being in the red throughout the day, dealers said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) closed 1.12 points higher at 1,846.39…

MWE shares jump after privatisation offer


KUALA LUMPUR (March 16): Shares in MWE Holdings Bhd jumped as much as 29.2% — just shy of the 30% limit-up threshold — as news broke of the privatisation offer extended by tycoon Tan Sri Surin Upatkoon for the diversified entity at RM1.75 per share. At 3.18pm, the stock slipped to RM1.62 a share after hitting an intra-day high of RM1.68 — its highest since May last year. The current stock price is up 32 sen or 24.6% from yesterday’s close, which gives it a market capitalisation of RM299.31 million.Read More