KUALA LUMPUR: It's business as usual for Serba Dinamik Holdings Bhd as the integrated engineering services provider remains relevant as a formidable Bumiputera company, despite the daunting challenges.

Group managing director and chief executive officer Datuk Dr Mohd Karim Abdullah said the external auditor issue it was facing required the management's focus, but each branch of Serba Dinamik's business was still focused on its respective tasks.

"The business continues to run under the current environment, and Serba Dinamik remains committed to returning dividends to shareholders," he said.

Mohd Karim does not rule out a change in the company's organisational structure to boost corporate governance in line with the Malaysian Code on Corporate Governance's principles. 

Serba Dinamik, he said, was in talks with a number of foreign banks for financing to carry out all its business plans.

"Businesses should take some steps to provide business capital, and for the time being, we are having several discussions with international banks about working capital," he said.

According to Mohd Karim, companies under the group continued to show interesting developments in every field of business, both at home and abroad.

He said the original equipment manufacturer's (OEM) business remained relevant today, owing primarily to the rise in global crude oil prices to more than US$70 per barrel. 

"It provides a profitable margin with a projected margin of 17 per cent compared to other players in the upstream oil and gas market. This is a sector projection, particularly for OEM-based business, which is very encouraging," he said.

Meanwhile, Mohd Karim said Serba Dinamik's planned venture into space technology was on track with a new subsidiary being established.

The subsidiary will focus on capacity building and partnership with various agencies as well as international players.

Serba Dinamik announced a partnership with the Malaysian Space Agency (MYSA) in March to strengthen the country's economic development and space technology particularly.

According to the company, Malaysia had yet involved in the space technology industry, despite being prepared to do so.

MYSA has taken the initiative to introduce the Malaysian Space Board Bill 2020, which was tabled for the first reading last year through the Ministry of Science, Technology and Innovation. 

Mohd Karim said Serba Dinamik's main objective of diversifying into space technology was "to connect information and communication technology".

"This is because it is one of the company's core competencies to provide Internet access to particularly areas that do not have such access in the states that are supplied or not supplied with satellite technology.

"This is important to support the company's various initiatives on bridging the technology gap that requires broadband and Internet connection to realise its use," he added.

Mohd Karim said by providing such facilities and infrastructure, the Fourth Industrial Revolution (IR) 4.0 would indirectly open up a larger market for related industries. 

Serba Dinamik has also signed a memorandum of understanding (MoU) with SWISSto12, a Swiss-based 3D printing company that specialises in component manufacturing technology for use in satellites. 

Mohd Karim said Serba Dinamik would strengthen its capabilities in the high-value engineering fields required to support the space economy as a result of the collaboration.

https://www.nst.com.my/business/2021/06/702382/serba-dinamik-running-usual-remains-relevant-formidable-bumiputera-firm-md