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Serba Dinamik's 2021 earnings remain intact


’s earnings outlook remains intact this year despite the uncertainty resulting from the spike in Covid-19 infections.
Analysts are bullish on Serba’s prospects for 2021 and they expect the group to win more contracts.
On Monday, Serba announced that it had clinched nine contracts worth US$136mil (RM548mil) comprising eight operation & maintenance (O&M) projects in Indonesia and one communications and technology (ICT) job in India. It also clinched two local contracts, with no specific values as they are on a “call-out” basis.
Overall, Serba has an orderbook of more than RM18.7bil, of which 40% is from the oil and gas (O&G) sector, according to Kenanga Research. ....

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Quick take: Serba Dinamik shares up on RM548mil contracts win


rose over 4% in early trade Tuesday after securing RM548mil worth of contracts.
The energy services group rose 4.94%, or eight sen to RM1.70 with 5.5 million shares traded.
Serba Dinamik secured nine contracts worth a total RM548.2mil and another two contracts with unspecified values.
The company said the contracts were in operations and maintenance (O&M), engineering, procurement, construction and commissioning (EPCC) as well as information, communications and technology (ICT) space.
Group managing director/group chief executive officer Datuk Dr Mohd Abdul Karim Abdullah said five O&M projects were awarded by PT Pilar Bahtera Energi, the leading uninterrupted power supplier in Indonesia, which enabled Serba Dinamik to participate into the republic’s power industry. ....

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Kenanga Investors may acquire i-VCAP | Asia Asset Management


Malaysia’s Kenanga Investors is in an advanced stage of negotiations to acquire i-VCAP Management, a state-backed asset and exchange-traded fund manager, according to people familiar with the matter.
“The deal, if sealed, would position Kenanga Investors as the second largest ETF provider in Malaysia, and it would also allow i-VCAP’s ultimate shareholders to exit the business as announced over a year ago,” one of these people tells
Asia Asset Management.
Affin Hwang Asset Management is currently the market leader with nine of the 19 ETFs listed on the local stock exchange. i-VCAP manages four ETFs and Kenanga Investors has two. ....

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CPO prices to trade at high levels in first half


UOBKH believes that CPO prices may soften as palm oil production recovers towards the end-3Q21 and in turn, inventories could start to rebuild.
KUALA LUMPUR: The current higher-than-expected increase in the crude palm oil (CPO) price is likely to sustain for at least the second quarter of this year, driven by tight global vegoil supply and recovery demand.
As such, UOB Kay Hian (UOBKH) Research has raised its CPO average selling price for 2021 to RM3,000 per tonne from RM2,600 per tonne.
It said as of Jan 6, CPO future contract for both Jan and Feb hit RM4,000 per tonne due to stronger soyoil price and concerns of weak CPO production continuing in the first quarter of this year (1Q21). ....

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