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KUALA LUMPUR: Petronas has informed Serba Dinamik Sdn Bhd (SDSB) of the renewal of its licence to continue offering supply and services to Petronas and its contractors effective May 31.

In a statement on May 31, Serba Dinamik said the renewal is for a one-year term and SDSB shall within one year from the effective date submit its audited financial statements for financial year end June 30, 2022, duly accompanied by auditor’s unqualified opinion.

“Also, SDSB is required to submit financial guarantees as prerequisite for all and every SDSB’s participation in tenders initiated and/or conducted within one year from the effective date.

“Petronas will engage with SDSB on the details of financial guarantee requirements, in due course,” it said.

SDSB’s current licence expired on May 31.

Founder and CEO of Serba Dinamik Holdings Bhd, Datuk Dr Mohd Abdul Karim Abdullah said the renewal is good enough for Serba Dinamik to reposition itself strongly on the financial aspect of the company.

“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 on May 31.

He also mentioned that the company will adhere to the terms imposed by Petronas and will 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 utilized to generate the sales and revenue for the company,” he added.

Serba Dinamik said it is a mandatory to obtain a licence from Petronas to participate in the oil and gas (O&G) industry in Malaysia.

“This licence facilitates SDSB to facilitate the provision of products and services to oil majors, operators as well as other O&G service providers in the industry,” it said. – Bernama

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