Serba Dinamik Annual Report 2021

Integrated Report 2021 93 CEO’S STATEMENT with completion up to 2025. Complementing this success is the very fact that at the height of the COVID-19 health crisis on 15 April 2020, Serba Dinamik had bagged a US$1.78 billion (RM7.71 billion) contract for the engineering, procurement and construction of an innovation hub, academic campus, related facilities and information technology (IT) infrastructure in Abu Dhabi, United Arab Emirates. Among others, the four-year project forms part of US- based Block 7 Investments LLC’s initiatives to create a global incubator for the advancement of innovators for the technology, property, financial as well as energy sectors, to be positioned as a new landmark for Abu Dhabi. Touching on overseas venture, it is also worthwhile mentioning that Serba Dinamik had on 13 August 2019 secured an EPCC contract in Uzbekistan worth an estimated US$250.30 million (RM1.05 billion). On the corporate exercise front, Serba Dinamik had undertaken two private placement exercise of up to 306.51 million new ordinary shares (in 2020) and 336.83 million new (in 2021) which raised RM456.7 million and RM508.61 million respectively following strong interest from funds. Going by the age old adage that opportunities abound in times of adversity, Serba Dinamik is cautiously optimistic that the Group is on the right track to emerge a stronger entity post pandemic in line with the rapid re-opening of both borders and economic activities. While the scarring effect fromboth the COVID-19 health crisis and the plunge in its share price and market capitalisation is unlikely to recover overnight, Serba Dinamik has nevertheless initiated what is touted as baby steps towards becoming a more agile and resilient Group by leveraging sustainable business ventures (i.e. space economy and renewable energy). Rest assured that Serba Dinamik always prioritise the interest and welfare of its stakeholders – whether they are shareholders, business partners, financial institutions, consultants or vendors. Over time, the new normal will eventually become common practice as we continue to explore and make new business frontiers a sustainable and profitable business.