‘Rise from the fall in style, backed up by Petronas again.’
Shares of Serba Dinamik Holdings Bhd, which were traded at the most active counters, jumped 15% on the morning of June 1 after national oil company Petroliam Nasional Bhd (Petronas) renewed its license to the Serba Dinamik Sdn Bhd unit.
The renewal of the license will enable Serba Dinamik to continue offering supplies and services to Petronas and its contractors for one year effective 30 May 2022.
According to yesterday's exchange filing, Serba Dinamik is required to submit audited financial statements for the financial year ended June 30, 2022 as stipulated in the licensing conditions within one year from the effective date.
In addition, Serba Dinamik must also submit a financial guarantee as a prerequisite to all and every company participation in the tender within one year from the effective date.
According to the founder and Chief Executive Officer (CEO) of Serba Dinamik, Datuk Dr Mohd Abdul Karim Abdullah, this is a testament to Petronas' trust that allows the company to re -establish its position in the financial aspect.
He added that the company will comply with all the terms set by Petronas and will submit the required financial statements and guarantees.
For your information, the licensing from Petronas is important for Serba Dinamik to remain involved in the oil and gas industry in Malaysia.
This morning, Serba Dinamik shares increased 1.5 sen to 11.5 sen with a trading volume of 53 million shares.
