KUALA LUMPUR: Serba Dinamik Holdings Bhd is facing trading suspension if it fails to submit its annual report for the financial year ended June 30, 2022 (FY2022) by Thursday.

The troubled oil and gas company failed to submit the annual report on Dec 15 allowed earlier by Bursa Malaysia.

Serba Dinamik, in a stock filing last Friday, said it was now aiming to submit the annual report by Dec 22, after the completion of its annual audited financial statements, five market days after its Dec 15 deadline granted by Bursa.

If it failed to submit its annual report by then, "Bursa Securities shall suspend trading of its securities, in addition to any other enforcement actions that Bursa Securities will take," the company said.

"The suspension shall be effected on the market day following the expiry of the suspension deadline, and shall be uplifted on the market day following the announcement/issuance of the annual report 2022, unless otherwise determined by Bursa Securities.

"Pursuant to Paragraph 9.28(6) of the MMLR (Main Market Listing Requirements), if Serba Dinamik fails to issue the annual report 2022 within six months from the expiry of the timeframe, i.e. Dec 15 2022, in addition to any enforcement action that Bursa Securities may take, de-listing procedures shall be commenced against Serba Dinamik," it added.

Serba Dinamik said its interim liquidator Victor Saw Seng Kee of PricewaterhouseCoopers Advisory Services Sdn Bhd had taken the position that the obligations for compliance with the Bursa's listing requirements and/or any other statutory requirements, including any incidental costs, remained primarily the responsibility of the company's directors.

According to the company, its directors had taken steps to resolve the outstanding audit issues.

Serba Dinamik closed unchanged at 20 sen on Friday with a market capitalisation of RM62.12 million.

https://www.nst.com.my/business/2022/12/861972/serba-dinamik-submit-fy22-report-dec-22