KUALA LUMPUR: The Securities Commission (SC) has compounded Serba Dinamik Holdings Bhd, its chief executive officer (CEO), executive director and two officers for a maximum sum of RM3 million each. 

This follows the decision of the public prosecutor to accept the representation made to the Attorney-General's Chambers by Serba Dinamik and the individuals involved regarding the charges pending in court. 

The SC said this was the maximum amount of compound permissible under Section 369(a)(B) of the Capital Markets and Services Act (CMSA) for submission of false information in the company's financial statement. 

Serba Dinamik and the four individuals were earlier charged for submitting a false statement to Bursa Malaysia on February 26 last year, in relation to the revenue figure of RM6.01 billion contained in its quarterly report on consolidated results for the quarter and year ended December 31, 2020 (FY20). 

The individuals are Serba Dinamik CEO and group managing director Datuk Dr Mohd Abdul Karim Abdullah, executive director Datuk Syed Nazim Syed Faisal, group chief financial officer Azhan Azmi, and vice president of accounts and finance Muhammad Hafiz Othman. 

Muhammad Hafiz was also issued with another compound of RM1 million, also the maximum amount permissible, for falsifying the accounting records of the company's subsidiary Serba Dinamik Sdn Bhd, an offence under section 368(1)(b)(i) of the CMSA. 

He was earlier charged for being involved in instructing the preparation of false documentations relating to the sales of Serba Dinamik Sdn Bhd.

https://www.nst.com.my/business/2022/04/788478/sc-imposes-maximum-compound-against-serba-dinamik-top-executives