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2 comment(s). Last comment by Sslee 2021-06-02 15:25
Posted by Sslee > 2021-06-02 15:25 | Report Abuse
Let's understand the project here: the ultimate customer awarding the Block 7 Innovation Hub project is ZonesCorp, a subsidiary Abu Dhabi Ports company. Abu Dhabi Port is a very well known company in the Middle East
https://www.theedgemarkets.com/article/serba-dinamik-bags-rm771b-contract-abu-dhabi-project
KUALA LUMPUR (April 15): Serba Dinamik Holdings Bhd has 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.
In an exchange filing today, the firm said its wholly-owned unit Serba Dinamik International Ltd (SDIL) accepted the letter of award last Sunday from US-based Block 7 Investments LLC for the four-year project, which is set to commence on May 14.
So who owned US-based Block 7 investment LLC?
ZonesCorp or Karim?
No result.
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CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
calvintaneng
56,242 posts
Posted by calvintaneng > 2021-06-02 14:06 | Report Abuse
Talk is cheap
Receivables ballooned from Rm1.2 billions to Rm1.865 Billions in Feb 2021 result
We have yet to see May 2021 reports
Debt has gone up to Rm3.1 Billions and Cash equivalent has dropped to Rm800 Mil
Now Net asset cannot cover net debt and no margin of safety at all
At this state Serba is not for investing but blind gambling at best