Believe what see , ignore annoying lowballers with own agenda ...offer price limited time only.. U decide YOUR best entry price ...first come first basis ...

Serba Dinamik to add 3 new INEDs to expedite search for solutions of sorts
Author: acinanatucer Publish date: Sun, 13 Jun 2021, 9:59 P


SERBA Dinamik Holdings Bhd is believed to be roping in three new “hands-on” independent non-executive directors (INEDs) to accelerate the formation of two review bodies tasked to examine auditing issues pertaining to its FY2020 financials that have been flagged by external auditor KPMG on May 25.

If the plan materialises, the global integrated oil & gas (O&G) service provider will have a total of eight INEDs – thus further strengthening its board membership to a dozen (from the current nine) – while expediting the next course of action to find an ultimate solution to its accounting-related issues.

The candidates are respectful individuals in the corporate world with strong experience and background in governance, legal and restructuring of companies, according to a source close to the company.

“In its quest to regain the confidence of shareholders whether they are institutional investors or retailers, the three new INEDs are expected to add ‘fire-power’ to swiftly resolve uncertainties pertaining to Serba Dinamik’s pending audit issues,” the source who did not wish to be identified told FocusM.

“With additional INEDs in its board line-up, Serba Dinamik would be able to expedite its next course of action to manage its current issues with KPMG.”

At the end of the day, the source said Serba Dinamik’s management hopes that the new INEDs would be able to see a clearer picture amid a different landscape based on their experiences.

“Nevertheless, the management has reiterated its stance to stay away from this issue,” the source noted, adding that an independent firm has also been earmarked among the Big-Four audit firms.

Recall that the Minority Shareholder Watch Group’s (MSWG) CEO Devanesan Evanson has proposed that one alternative is for Serba Dinamik to look to its INEDs to resolve its existing issues instead of relying on an independent firm.

“They can form an ad-hoc committee whose terms of reference will be to resolve the KPMG issues. This committee can invite other professionals on a need basis to assist them,” suggested Devanesan.

“There will be no learning curve with these independent directors as opposed to a new incoming independent firm. Furthermore, some of the independent directors – who are also audit committee members – have dealt with KPMG for many years in the past.”

Serba Dinamik’s current independent directors include chairman Datuk Mohamed Nor Abu Bakar; KPMG Malaysia’s former partner Hasman Yusri Yusoff, Nationwide Express Holdings Bhd’s former managing director Rozilawati Basir as well as accountant Sharifah Irina Syed Ahmad Razi and lawyer Tengku Datuk Seri Hasmuddin Tengku Othman.

“Thus, there are competent resources among the independent directors to resolve the issues. An ad-hoc committee comprising independent directors will be the fastest way to resolve the issues,” reckoned Devanesan

Plan your investment strategy early to avoid any dissapointment ...i oledi Q buy tmr morning .. nite 2

SD got highest attention from Bursa now ...we dont need ikan.billis wasting time lowballing every sec but Big Fund Managers to take notice and support the Big Way than whining and complantating wheter to buy or not ...time wait for no.man ...it still is. Small peanuts disposal from EPF or KWAP in lots of below 500k , is a.joke as my private broker alone bought 2 million SD shares last friday ...fully paid . SD is a great company and a great investment for long term dividens and sustainability

Last time AA grounded all planes even until now no bankrupt pun? 1 audit report sja macam macam alasan negatif from haters , fakers and losers ....hahaha its always your choice to click the Buy or Sell Button , remember ya

Last time lowballers also say.limit.down AA to 0.10 cents ?..woiiii bila sampai? My Buy Q until 2025 hahaha

If issues resolved I can see many FOMO will jump in asap....hahaha

alenac i read your all your comments , you DID cut loss on SD just recently ...enuff said ...

Nobody force you to click Buy or Sell...remember that ya

Now its the QR that matters most ,secondly the fundamental ...and off course order Book must thick enuff . Sometimes great opportunities only comes once like AA on 30 OCT 2020 bought at 0.55

Last Friday highest trade vol at 0.625 Buy Sell ...i m not even worried at 0.600 to 0.605

SD fundamentals and jobs is still solid and strong with 17 bil order book...you think small audit company can break this giant ? Think again ...in fact we should be thankful to be able to buy low much lower than BIG BOSS at 0.605. Terima kasih ya

I oledi Q buy at early morning , i m paying full not contra , can hold long long one like AA

Those need to sell due to supidities contra or gambling mentalities oledi cut loss last 2 weeks ago...now left nothing to cut but waiting to collect higher than their cut loss avg price

Ask yourself how long can you hold? Not for contra or s speculators ...just like last time when I ignore those lowballers on Airasia and bought in 0.55 on 30th Oct 2020 all the way to 0.60 ...until now still holding tight2 ...no regrets . The only regrets is to listen to misleading low ballers with own agenda and miss out the golden opportunities back then on AA. Always invest with spare cash only and never speculate the market !!!

Even both HIGH level directors bought in BIG at avg 0.80 to 0.840 sens on early JUNE ...so at current price on 0.605 is really a no brainer entry level . 0.82 to 0.605 is already a whopping 30% discounted ...do your own math but be quick other FOMO coming in too

I m vested and still collecting on any dip from 0.605 next weeek to show my support for SD ...when a friend in need is a friend indeed ...SD will becomes stronger and better in good hands leadership of Karim and his loyal crews after this unfortunate ordeals .

Murphy’s law always happens in Bursa .....many low ballers missed the chance to collect AirAsia all time low at 0.55 on 30th Oct by listening to misleading low ballers fake comments would have miss the one and only chance when the rebound happens all demoters suddenly either becomes promoters or dissapears hiding in the cave ....hahaha....we knows SD is more solid and greater company than AA and is working 101% with the auditing issues .....once it is clear the rebound is imminent ....like AA those FOMOS with own agenda will comes in BIG time to make sure they buy at the lowest price possible with limited supplies of shares will only means ......... sometimes your best friends is your best enemies. ..... solid dividen cash cow since IPO at rm1.50 ....enuff said .

A famous face fortune teller friend of mine has only good things to say about Mr Karim face feature ....believe or not it is up to u ...

Remind me of AA when it was 0.55 sen time .......now low ballers all disappear ....hahaha

Low ballers with own agenda .....it’s quite annoying really

Serba Dinamik remains solid O&G player despite market turmoil

Tuesday, 08 Jun 2021 06:24 PM MYT

KUALA LUMPUR, June 8 — Malaysian oil and gas (O&G) services giant Serba Dinamik Holdings Bhd remains strong with good growth prospects for the coming years despite facing a very challenging market, an industry observer said.


The observer told Bernama that the company also played an important role in the industry and many of its services are considered critical to the operations of various O&G industry players in the international markets.

The observer said any disruption to Serba Dinamik’s services, not only to local customers but also in international markets, could affect many O&G project operations around the world.


This is evidenced by the company’s biggest assets which are its vast experience and strong presence in 20 countries supported by a workforce of 2,000 employees across all segments of its operations with a vendor and supplier base of 770 companies.


The observer said not many Bumiputera companies have achieved success in the highly competitive O&G industry in such a short period as Serba Dinamik.

Last week, Serba Dinamik was shaken by news on issues related to the audit of its 2020 financial report by external auditor KPMG.

An internal source of Serba Dinamik said the company remained fully focused on its operations and is very positive about its future growth prospects.

“Despite facing numerous market challenges, the company’s fundamentals and prospects remain intact. Serba Dinamik’s business and services fundamentals are still strong. We are committed to the continuity of the company’s business operations. The support from our customers and suppliers are very encouraging. In fact, it is growing,” the source said.

The company was founded in 1993 by Datuk Dr Mohd Abdul Karim Abdullah with its first service centre in Bintulu, Sarawak providing maintenance, repair and overhaul (MRO) services for rotary equipment.

It grew rapidly over the next two decades and was listed on the Main Market of Bursa Malaysia in 2017.

The source said Serba Dinamik has earned the trust and respect of other industry players besides improving its performance in terms of operating economics and services price that is expected to lead to more significant business opportunities, especially growth from other sectors such as information and communication technology (ICT).

This is clearly proven by the growth of this company’s projects in the past year despite facing an uncertain pandemic situation.

Among Serba Dinamik’s achievements in 2020 were winning two engineering, procurement, construction and commissioning (EPCC) projects in Abu Dhabi with an estimated contract value of US$1.78 billion (US$1=RM4.11).

The company also acquired Teluk Ramunia Yard in Kota Tinggi, Johor from Petronas Assets Sdn Bhd, a wholly-owned unit of Petroliam Nasional Bhd, and completed the construction of Bintulu Integrated Energy Hub in Kidurong, Bintulu.

Within the same year, it secured two ICT contracts to implement a digital platform in Zambia worth RM529.63 million, signed a memorandum of understanding (MOU) with Huawei Technologies (Malaysia) Sdn Bhd and acquired Serba Dinamik Education Sdn Bhd (formerly known as Prestariang Education Sdn Bhd).

The source said although the company is facing a problematic issue raised by its external audit, it is currently working to address the issue and find solutions in the interest of shareholders as well as other stakeholders.

“Certainly, Serba Dinamik is looking for the best way to address this issue and what is important is that every decision should take into account various perspectives for the benefit of shareholders and other stakeholders,” the source added.

Serba Dinamik also played its role in corporate social responsibility (CSR) by providing immediate assistance worth RM5 million to those in need to fight the Covid-19 pandemic in the form of donations of personal protective equipment (PPE) such as gloves and masks as well as food.

Besides CSR programmes in the country, Serba Dinamik is also very active in providing assistance in various international locations, including in Indonesia, New Guinea and Senegal in efforts to combat the Covid-19 pandemic.

Many CSR programmes have also been planned between June and December this year including emergency aid for Palestinians through donation collections from all Serba Dinamik staff throughout Malaysia which would be channelled to several non-governmental organisations in Malaysia.

It would also donate tablets for educational purposes to students undergoing home-based teaching and learning as well as those most in need and affected by the pandemic, especially the poor and residents of squatter and People’s Housing Programme. — Bernama


Relax chill gaisss next week collect some more and keep.....good nite

https://www.e-serbadk.com/serba-dinamik-kekal-syarikat-utama-minyak-dan-gas-penting-dalam-pasaran-antarabangsa/

KPMG delaying time tactics to revert back to SD only means they have no case at all to defend their accusations ...in law terms .

Mohd Abdul Karim had previously validated that there were no issues with the contracts and transactions made by Serba Dinamik.

"My job is to strengthen the fundamentals and governance to get the group sustainable. I will give full cooperation to support this and focus on the company's ongoing business," he added.

He expects the oil and gas services activities to pick up this year on the back of the improved Brent crude oil at about US$71 per barrel, which in turn would allow more contracts and services for Serba Dinamik to partake.

Abdul Karim expects Serba Dinamik to reduce its dependence on O&G sector with a revenue contribution of 45 per cent by 2022, diversifying its focus on technology-related segment.

Serba Dinamik: Awang Daud has no intention to exit the company
Post author:Cheah Chor Sooi
Post published:11 June 2021
Post category:Markets / Top
IT seems that what is perceived to be a major share dumping by its co-founder is after all a tactical move that should not let the alarm bell sounding for too long.

Such is the feedback that that FocusM obtained from a close aide to Datuk Awang Daud Awang Putera who is also the global integrated oil & gas (O&G) service provider’s non-independent non-executive director.

“Speculations that Datuk Awang Daud and Datuk Karim (group managing director/CEO Datuk Dr Abdul Karim Abdullah) are parting ways are unfounded,” the aide pointed out on condition of anonymity. “Their partnership which dates back to 1993/1994 is very much intact.”

Yesterday, Awang Daud sparked wide market talk following his disposal of 8.5 million shares in the open market at an average price of 64.02 sen (an equivalent of 0.23% of his shareholding) which trimmed his stake in Serba Dinamik 1.8% or 66.79 million shares.


Datuk Awang Daud Awang Putera
A stock market analyst who is familiar with Serba Dinamik told FocusM that the risks and rewards factor look attractive at the current price given the counter’s dividend payout of 30%.

“Uncertainties will linger for a while but there is opportunity for the stock to recover due to technical rebound,” projected the stock market analyst who did not want to be named.

Aside from Awang Daud, the Employees Provident Fund (EPF) also sold 481,000 shares on June 4 after disposing of 681,300 shares on June 2 and another 273,900 shares on June 3. Following these disposals, the pension fund’s stake in Serba Dinamik has shrunk to 367.41 million shares or a 9.9%.

On the reversal, Abdul Karim has himself moped up five million shares on May 31 – the day Serba Dinamik resumed trading after a two-day suspension following the flagging of accounting issues on its FY2020 financials by the company’s external auditor KPMG on May 25.

Meanwhile, fellow non-independent non-executive director Datuk Abdul Kadier Sahib has thus far amassed 11 million shares in the company.

The company’s second-largest shareholder after Abdul Karim (27.07% stake) has acquired an additional three million shares in the open market on June 4 after purchasing five million shares on June 2 and three million shares on June 3, thus raising his shareholding to 602.9 million shares or 16.25%.

At 12.29pm, Serba Dnamik was down 1.5 sen or 2.34% to 62.5 sen with 92.68 million shares traded, thus valuing the company at RM2.34 bil. – June 11, 2021

Awang cleared the air and now the ball is on KPMG calling the shot......since 6 May ...berani kerana benar. ...

Awang Daud: I sold Serba Dinamik shares due to margin call
Adam Aziz
/
theedgemarkets.com

June 11, 2021 21:37 pm +08


Datuk Awang Daud Awang Putera
Datuk Awang Daud Awang Putera
-A+A
KUALA LUMPUR (June 11): Serba Dinamik Holdings Bhd co-founder Datuk Awang Daud Awang Putera, who stressed he is confident in the company’s board safeguarding shareholders’ interest, sold more shares.

The latest filing to Bursa Malaysia shows Awang Daud had on Thursday (June 10) sold 4.3 million more shares in Serba Dinamik, which was in the limelight after its external auditor KPMG raised audit discrepancies to the tune of RM4.54 billion in late May.

With the latest disposal, Awang Daud is left with 62.49 million shares or 1.67% in the company, from 2.24% or 75.29 million shares prior to the audit issue revelation.

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Awang Daud has rubbished the rumours that he is splitting ways with the company which he co-founded in 1993, alongside group chief executive officer and largest shareholder Datuk Dr Mohd Abdul Karim Abdullah.

“The sale of the shares is largely due to the technicalities of the stock market margin call and was not an off-loading of shares exercise”, said Awang Daud in a statement, adding that these were merely groundless denunciations.

Serba Dinamik’s share price sank to a new low of 60.5 sen today, falling 3.5 sen or 5.47%, valuing the group at RM2.24 billion. The counter has plummeted over RM1 or 62.42% from May 25, when the audit issue was first revealed to the investing public.

“I have known Datuk Karim for innumerable years and I place great faith in his leadership abilities, which has taken the group to where we are today,” Awang Daud said.

He also expressed confidence that the board of directors and senior management of the group will carry out all the necessary steps to clarify any queries pertaining to the audit issues highlighted by KPMG to safeguard the interests of its stakeholders.

While Awang Daud is selling shares, both Abdul Karim and Serba's second largest shareholder Datuk Abdul Kadier Sahib have bought more shares in the company recently.

Mohd Abdul Karim purchased five million shares on May 31, raising his stake to 27.07% or one billion shares.

Abdul Kadier, meanwhile bought 11 million shares between June 2 and June 4, thus upping his stake to 16.25% or 602.9 million shares.

The spotlight has also been casted on Abdul Kadier, as he proposed to remove KPMG as the external auditor, but he called off the proposal later.

Kathy Fong

Innocent until proven guilty .....prepare for better or worse ..#trustKarim

Highlight

'We have done nothing wrong,' says Serba Dinamik MD Abdul Karim

KUALA LUMPUR (May 29): Serba Dinamik Holdings Bhd “has done nothing wrong”, said its group managing director and chief executive officer (CEO) Datuk Dr Mohd Abdul Karim Abdullah today in clarifying the company's audit issues recently raised by its external auditor KPMG.

The company has described KPMG as acting in an “unfair” and “peculiar” manner for going straight to the company’s independent directors to address the audit issues — instead of briefing the management first.

Furthemore, the management blamed KPMG for delaying the completion of the statutory audit, which resulted in Serba Dinamik missing the audit deadlines


The average person spends about a quarter of their life asleep, and about seven years trying to fall asleep. However, finding the perfect mattress can sometimes be just as hard as finding the perfect relationship, balancing hard and soft, cost and comfort. Follow the full exchange between two young company leaders as they discuss innovation, inspiration and their single-minded mission to help Malaysians sleep better.
“The Securities Commission [Malaysia] has their rights; Bursa Malaysia has their rights [to investigate]. Based on what we believe, we have done nothing wrong,” said Abdul Karim, who is also the single largest shareholder holding a 26.93% stake in the company, at a virtual press conference today.

He stressed that the audit issues raised by KPMG are not about genuity and it isn’t about legitimacy of contract value.

“We are firm in the facts that we have put forward, and we strongly believe the independent firm will come out with the findings to see the differences between what we have said and what KPMG has [pointed] out,” he added.

“Based on the sequence of events, it is something that is very peculiar and abnormal.

“When these issues were found, the management by right should be the party that was addressed first. But it did not happen that way. The external auditor went to the independent directors and briefed the independent directors on the matter.

“Independent directors are not involved in day-to-day operations. They will not be able to explain those findings raised … it came to us only on May 3 towards the tail end of the year-end audit closing period,” Abdul Karim said.

KPMG first raised the issues to Serba Dinamik’s independent directors in mid-April, before the board was alerted on May 3, after which the company responded to the queries on May 6.

The virtual press conference today was conducted a day after Serba Dinamik’s second largest shareholder, Datuk Abdul Kadier Sahib, issued a notice to propose the removal of KPMG as its external auditor. Kadier, holding a 15.96% stake, is also the company’s non-independent non-executive director.

When asked whether he supports the proposal, Abdul Karim said: “It is still a decision that I will put in a vote on the day it comes.”

During the one-hour session, reporters were not allowed to raise questions directly to Abdul Karim. The media were requested to type in their questions into a chat box. Only selected questions were picked up during the press conference.

The press conference was for the host to explain further its decision to conduct a special independent review of its financial accounts after its board of directors was informed by KPMG on some matters pertaining to the statutory audit.

The company expects the voluntary suspension on its shares to be lifted on Monday. The counter last closed at RM1.61, valuing the group at RM6 billion.

Serba board of Directors already answers all KPMG audit enqueries on 6 th May until now awaiting KPMG replies...better resolves it amicably ASAP ..win win and open morning limit up next week

Listing Detail:
Listing Sought: Main Market
Issue Price: RM 1.50
Par Value: RM 0.50

Dates:
Offer Period Open: 30 Dec 2016
Offer Period Close: 19 Jan 2017
Tentative listing date: 8 Feb 2017

Number of shares:
Public Issue: 271,400,000
Offer for Sale: 118,000,000
Private Placement: -

Report out opening oledi limit up gaisss!!!

0.605 bought some

looks like BIG FUNDS collecting these few days price well supported above 0.60

tut tut many kentot rugi time to flush out weak holders

Pump to dump careful

lousy managements team

Manyak get quick rich ponzers hoping for a V that never will ever happen ....besok Fryday kasi deep fried contra losers ...hahhaa

Selling Q Pressure Gone with the wind.....a strong rebound shall take place soon

0.425 is a no brainer buy ....i oledi collected some

Usually 430pm the showdown starts ....a lot of depression for those who bought high

Ai yoyo those contra have to force sell T2

ai yoyo ...operators make sure u stuck high while they sell low

Contra day force SELL T2 ...playing the END GAME

Historical low price , TA nice pointing up

0.625 closing and tocp well played by operators so those who bought above 0.625 past few days will hold while they dump down slowly to trap more fallacy traders hoping for a rebound .

last few days heavy accumulations in progress. They know but for us to find out later

Just BUY now Mega Bumi contracts coming in soon

shares hard to push up daily sellers Q by the millions