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Serba Dinamik emerged an innocent, redeemed and righteous casualty of war

ǷearlꙌhite
Publish date: Wed, 18 May 2022, 08:48 AM
Pearlwhite's commentaries

In respect of the article, it is recommended that you consult with a Certified Accountant/Chartered Accountant/Chartered Internal Auditor, Chief Financial Officer, Legal Counsel and/or Tax Advisor for advice concerning the article.

Serba Dinamik emerged an innocent, redeemed and righteous casualty of war

By Pearlwhite 18th May 2022 8.48AM

It would be an understatement to claim Serba Dinamik emerged victorious from the eye of the storm that perpetuated the unsubstantiated claims of Fraud and Financial Transgressions (FAFT) and the negative publicity that engulfed Serba Dinamik.  Nor was it victorious against the incessant unconstructive and imbalanced media onslaught.  (Read: The devastation Serba Dinamik suffered due to the abuse of Qualified Privilege that fuelled negative publicity with unsubstantiated allegations - Full)

For Serba Dinamik, there were no victories in the countless battles but a casualty of war.  Ripped from Serba Dinamik were its financing facilities that were crucial for it to achieve its once upon a time peak performance and the excellent reputation it once garnered.  It is now a shell of its former self.

As envisaged, the evidence against Serba Dinamik were circumstantial as corroborated by the Attorney General’s Chambers (AGC).  (Read: AG explains why criminal charges against Serba Dinamik, top execs no longer pursued).

Details as to why the evidence were circumstantial are detailed here (Read: Serba Dinamik’s financials are free of financial transgressions and fraud),  (Read: The peculiarities with Securities Commission’s (SC) charge sheet against Serba Dinamik (Part 1)) and (Read: Securities Commission's (SC) uphill task to successfully charge Serba Dinamik (Part 2)).

As a result, the AGC contends that compounds were the preferred method not because Serba Dinamik had a lot of explaining and counter evidence to prove, but the Securities Commission’s (SC) circumstantial evidence is not up to the standard required to press criminal charges.  Going by SC’s track record with successful FAFT convictions that took years, it would also be a waste of the Courts time and resources if SC were to rely on circumstantial evidence.  If that were the case, one would expect endless re-amendment and re-submission of its evidence.

Unfortunately for Serba Dinamik, the compounds also means that it had to part ways with financial resources that were critical to Serba Dinamik’s operations for something that it was innocent all along.

Moreover, let’s not forget that there were obvious inaccuracies of regulatory information pertaining to Serba Dinamik that outrageously supported the notion that it had indeed committed FAFT (Read: Serba Dinamik hidden nominees and hidden proxy(ies) will reveal themselves) and (Read: Serba Dinamik : Why the Factual Findings Update (FFU) is an embarrassment to Malaysia (Updated)).

Consistently, despite the unsurmountable challenges, Serba Dinamik had continued to and will continue to focus to resolve unsubstantiated claims of FAFT and negative perception.  The Factual Findings Update (FFU) is testament that Serba Dinamik is true to its resolve.  (Read: How Serba Dinamik overcomes obstacles to come out better and stronger.  Its good for the capital markets.) and (Read: Serba Dinamik - A success that was not revealed).

This is corroborated by the AGC that “allow the company to focus on rectifying errors and effecting immediate compliance with regulators such as Bursa Malaysia and the SC as it had clearly done so in the past without fault”.

There will be of course, lessons learnt from this and does not apply solely to Serba Dinamik.

Stakeholders too have to take responsibility and accountability for what had transpired.  In Serba Dinamik’s case,

  1. How would SC investigate unsubstantiated claims of FAFT in the future?
  2. How would SC use its relationship with the media to present balanced reporting?
  3. How would Bursa Malaysia (BM) provide up-to-date regulatory information?
  4. How would Bursa Malaysia (BM) redeem Serba Dinamik for bestowing it the PN17 status?
  5. What will the financial institutions, who suspended Serba Dinamik’s financing facilities due to negative publicity and unsubstantiated claims of FAFT, do now?  Will there be a recourse?  After all, if it had not been suspended, Serba Dinamik’s financial woes would not have happened.  Financial institutions shot themselves in the foot when it made decisions based off negative publicity.

Despite all the persecution it faced, not only from the financial regulatory bodies, financial institutions, media, investors, general public and the current dissatisfaction towards the AGC’s rational for Serba Dinamik’s compounds, the work to re-earn its credibility continues. 

In short, Serba Dinamik has consistently and unrelentingly shown its openness and willingness to resolve the issues put forward since May 2021.  That is the priority and Serba Dinamik is moving forward.  It is not shackled to its past, nor will it stop for anyone.

The question is, are the stakeholders willing to do so, not only for Serba Dinamik, but for themselves too.

 

Related articles

Serba Dinamik on track to come out winning

Serba Dinamik : Why the Factual Findings Update (FFU) is an embarrassment to Malaysia (Updated)

Serba Dinamik hidden nominees and hidden proxy(ies) concealed themselves from view at the AGM

Serba Dinamik hidden nominees and hidden proxy(ies) will reveal themselves

Serba Dinamik’s miraculous resurgence - A blessing in disguise

The battle of the nominees in Serba Dinamik so long as there is no doubt as to the credibility of Bursa Malaysia

Securities Commission's (SC) uphill task to successfully charge Serba Dinamik (Part 2)

The peculiarities with Securities Commission’s (SC) charge sheet against Serba Dinamik (Part 1)

The devastation Serba Dinamik suffered due to the abuse of Qualified Privilege that fuelled negative publicity with unsubstantiated allegations - Full

Serba Dinamik suffers devastation from the abuse of Qualified Privilege that fuelled negative publicity with unsubstantiated allegations - Trailer

Serba Dinamik’s fruits of labour to the truth is getting closer

From the desk of Serba Dinamik’s Shareholders To Theedgemarkets.com - Clarification on the Articles appearing in Theedgemarkets.com Website

Serba Dinamik’s financials are free of financial transgressions and fraud

How Serba Dinamik overcomes obstacles to come out better and stronger.  Its good for the capital markets.

Serba Dinamik - A success that was not revealed

Serba Dinamik is given an olive branch and redemption for the regulator?

Serba Dinamik is ever so helpful, but the rest refuses to leave Malaysia to finalise the SIR.

Serba Dinamik - Two thirds cleared with one third being finalised.  A little more to go.

The mispresented truth about Serba Dinamik – The mainstream medias' not so great headlines

 
* In respect of the article, it is recommended that you consult with a Certified Accountant/Chartered Accountant/Chartered Internal Auditor, Chief Financial Officer, Legal Counsel and/or Tax Advisor for advice concerning the article.

It is not recommend that consultations be made with Certified Financial Analyst, Brokers, Traders and/or MBA/MA Finance Graduates as they are deemed not to have the necessary competency and skills to evaluate and advise on such matters discussed in the article.

 

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1 person likes this. Showing 6 of 6 comments

MiaoMiao7

Where you wrote this article? From tanjung rambutan? What about the fake 59 stamps in serba office?

1 month ago

nicholas99

tipu orang kua. i see title also dont want read jor. go in prove i am right. more boring

1 month ago

DickyMe

No need to pay attention to companies without any integrity. Save your money and find well managed stocks. It will be easy on your health and pocket. Just avoid dubious stocks.

1 month ago

stockraider

There is a big margin of safety hidden in sapnrg mah!

U DEFINITELY STAND A BETTER CHANCE IN SAPNRG THAN SERBA LOH!

Posted by stockraider > 1 month ago | Report Abuse

Last time bail out no hair cut for banks.

This time bail out got hair cut elements which is positive for sapnrg mah!

Sapura Energy’s group chief executive officer Anuar Mohd Taib said it has received “majority support” from its nine lenders to start negotiations.

“Sapura Energy can no longer sustain its operations under its current debt load, which demands almost half a billion ringgit in interest payments annually. The faster we can restructure our debt, the better,” he was quoted as saying.

The report said the nine banks may have to take a massive 75% haircut under the proposed plan.

As mentioned earlier all the banks will get back some of the loan money on sapnrg restructuring loh!

The quantum indicative hair cut is 75%.....but i think the banks will settle for hair cuts between 30% to 50% loh!

As almost all the loans given to sapnrg are fully provided for losses.....the banks will get positive profit results should the loan is restructured mah!

On the other hand sapnrg should able to gain rm 3b to rm 5b, that will mean 17 sen to 29 sen in write back concession from the bank....still very sizable gain although they mentioned they wanted 7.5b or 44 sen hair cuts loh!

A win win situation for all mah!

1 month ago

Sslee

Stockholm syndrome isn’t a psychological diagnosis. Instead, it is a way of understanding the emotional response some people have towards a captor or abuser.

Sometimes people who are held prisoner or are subject to abuse can have feelings of sympathy or other positive feelings toward the captor. This seems to happen over days, weeks, months, or years of captivity and close contact to the captor.

Someone who has Stockholm syndrome might have confusing feelings toward the abuser, including:
Love
Sympathy
Empathy
Desire to protect them

Stockholm syndrome might also cause the hostage to have negative feelings toward the police or anyone who might try to attempt a rescue.

1 month ago

stockraider

The most recent raider recommendation on sapnrg at 3.5 to 4.0 sen make alot of monies loh!
It is all there and well documented mah!

Lu tau boh ??


Posted by Tobby > 18 hours ago | Report Abuse

Raider! Maybe it's time for you to face the mirror! I mean, tell me, what stock have your recommended actually make money! All i know is that you always screaming and shouting promoting them at the peak!

1 month ago

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