KUALA LUMPUR: Financial troubled Serba Dinamik Holdings Bhd is looking for a white knight to either assume its listing status or facilitate a reverse take-over of the company.

According to a notice in an english daily, the company has appointed PwC to call for submissions to participate in the restructuring of Serba Dinamik, which is listed on the Main Market of Bursa Malaysia Securities Bhd.

The closing date for submissions is March 29, 2024.

Once the poster child for homegrown oil and gas players, the company has been in the red since financial year ended June 30, 2021 with the company's current and past directors reprimanded several times by the regulators for failing to comply with listing requirements.

For the first quarter ended Sep 30, 2023, the company posted a net loss of RM80.67 milion against RM13.75 million revenue.

It was classified a Practice Note 17 company on Jan 7, 2022.

Serba Dinamik's shares has been suspended from trading since Jan 18, 2023.,

On August 23, 2023, it submitted an appeal to Bursa Securities against the de-listing of the securities of the company.

https://www.nst.com.my/business/corporate/2024/01/1000238/wanted-white-knight-financially-troubled-serba-dinamik