Petronas renews SERBADK 5279 pn17 SERBA DINAMIK HOLDINGS BERHAD's licence

Petronas renews  SERBADK 5279 pn17 SERBA DINAMIK HOLDINGS BERHAD's licence

Serba Dinamik’s current licence expires on May 31 and the renewal is for a one-year term.

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has renewed Serba Dinamik Holdings Bhd's licence to continue offering supply and services to the national oil company and its contractors effective from May 30.

Serba Dinamik's current licence expires on May 31 and the renewal is for a one-year term.

The renewal comes with terms that Serba Dinamik will submit its audited financial statements for financial year end June 30, 2022 within one year from the effective date, accompanied by auditor's unqualified opinion.

The terms also calls for Serba Dinamik to submit financial guarantees as prerequisite for all and

every of its  participation in tenders initiated and/or conducted within one year from the effective date.

Petronas will engage with Serba Dinamik on the details of financial guarantee requirements, in due course.

Serba Dinamik founder and chief executive officer of Datuk Dr Mohd Abdul Karim Abdullah said the renewal was good enough for the company to reposition itself strongly on the financial aspect.

"This signifies Petronas' vote of confidence on us. Given the circumstances and legal issues we have had in the past year, this renewal is very meaningful as we can continue to participate in various bids and continue to honour our existing contracts," he said in a statement.

He said the company would adhere to the terms imposed by Petronas and would duly submit the necessary financial statements and guarantees.

"We will fully utilise our investment into our assets, both in human resources and hi end equipment, to be utilised to generate the sales and revenue for the company," he added.

https://www.nst.com.my/business/2022/05/801108/petronas-renews-serba-dinamiks-licence