If what you said is true, they will want Chef and gang out of managing Serbak. So it's new management or liquidator. If Chef and gang, refused to resign, then liquidation is the only road. I hope lenders liquidate to teach them a good lesson on integrity and honesty.

joyvest
If SD was genuinely making losses without falsification of Accounts , the financial institutions( FI ) may give them a second chance to revive the Company at their mercy .

The FI can not tolerate companies resorting to false accounting with hidden agenda. No way the FI / creditors would agree to SD's repayment scheme. All the signs surrounding SD are harbingers of heavy depression of share price to take place.....

57 seconds ago

0 seconds ago

Put it this way, if there is a viable rescue plan Chef will hold on to Serbak, if not have to push out or force to sell by bankers. At the moment, bankers and bondholders have zero trust on Chef management.
joyvest
Another force selling for Dr.K is expected after today and more force selling is expected in coming days like the cascade of waterfalls fast and furious ...

3 minutes ago

How much regret won't bring Humpty Dumpty back again? He made a terrible mistake by getting Shafee & shoplot chairman on board. Hustle lawyers could drag your cases but they won't help heal the damaged reputation in the investment & lenders communities.
Posted by joyvest > 8 seconds ago | Report Abuse
It is learnt that Dr.K is very regretful of his uncooperative manner with the previous external Auditors,KPMG. According to his close ally, he wishes he could turn back the clock and make amend for it but everything is too late by now.

If you are right, then SERBAK is sinking bringing along greedy speculators. As I have already said, SERBAK deserved to be buried asap. By burying SERBAK, the investment community will teach thieves and fraudsters that crime does not pay.
joyvest
0.005 is imminent. It is learnt that all the creditors have rejected the SD's proposed Scheme Repayment ,which is far fetching....

9 minutes ago

I think the bankers and bondholders should teach SERBAK management a lesson and wind them up, if not they will play monkey by promising things that they cannot honour. Don't give them the last ride and bankrupt the chef.
Posted by joyvest > 1 minute ago | Report Abuse
Meeting with the Creditors is very tense now till 25th . Creditors refuse to bulge and SD is faced with the likelihood of rejection of scheme of repayment outright.

Good Afternoon, I guess all the speculators are hiding in their caves, now that the price has collapsed. Next, when will Serbak be played by the syndicate again?

Good morning, so the tirade over Serbak continues. Did it ever occur to you guys that Serbak supporters are just a handful such as Mad Cat and a few here? The rest are just punters looking for speculative price surge whenever there are a little positive news over Serbak?

alenac

Chef kena sell 9.6 mill units. More to load as Chef still have loans with banks?
https://klse.i3investor.com/web/announcement/detail/169

wow , volume declining, bad signs. Collection time for the syndicate? Take some time for them to build up stock and Wham stir price up again!!!!

Good morning, I am beginning to watch The Lincoln lawyer, good Netflix. One thing, one should learn from this serial, all corporate clients lie to their teeth to save themselves. So not surprised that Serbak took it to the ultimate.

Try following Paktua73, but will not guarantee you not go to Holland. That is if you want to be a trader. Be prepared to lose lots of money at first. Goodluck.
Posted by cicakman > 19 seconds ago | Report Abuse
At high down ,by percentage is how much?
At low, up by percentage is how much?
Can use sempoa to calculates.

This counter if keeps making losses will move downwards to join MUIB as penny stocks.

The tactic is similar to Serbak's first big price plunge last year. There will be days when there is a price surge upwards. But most days will be on downtrends.
sailang_now
No significant support in sight? Guess how long support at 0.13 holds?

1 minute ago

More of a syndicate rather than big boys. In KLSE more or less, counter in trouble always hire syndicate to manipulate the price so that sardines will end up holding near-bankrupt counters.
Posted by Sslee > 1 minute ago | Report Abuse
Kacang Putih is talking about if without share dealing manipulation Serbadk share price should be RM 1.60 by now.
The big boys are actually manipulate the price to collect cheaply from retailers. LOL

Chef already had other plans, he knows the ship is sinking and the kitchen flooded. Time to move on.
sailang_now
Sii Karim better buck up or ship out! Tut tut

1 minute ago

Good morning, at last, Kacang Putih talking about share dealing manipulation. At least now, while still late, the Kacang already baked. Should have warned people to beware from day 1.

I am not aware that he has got lots of collectibles. What I know is he has got lots of other oil majors' rubber stamps.
joyvest
Well, SD doesnt have to resort to external borrowing for the working capital . SD could make use of their internal fund collected from the receivables ( tons of money awaiting to be collected as claimed ) and/ or could issue right issues assuming all the existing shareholders would support to subscribe otherwise SD will plead the Government to subscribe through GLC or Government Investment arms by hook or by crook ( you know what i mean ). The circus of show will continue....

14 seconds ago

Looks like the syndicate is supporting the price at 16 sen. Their profit-taking is not over as yet.

Wrong, equal numbers of RM for win and loss, only Karim and gang win.
Posted by cicakman > 22 seconds ago | Report Abuse
Everybody who makes moneys must thanks Karrim.If he didn't cheat ,you got nothing.

Assuming that the scheme of arrangement is accepted by lenders. The next stop would be the Serbak requirement for working capital as in OnG industry requires lots of working capital, who is going to lend them to pay off the current trade creditors who will institute legal actions if no payments are made?
joyvest
Judging from the reaction of the market , it is unlikely that the Financial institutions would be prepared to accept the scheme of arrangement by 25th May. The scheme of arrangement is believed to be prejudiced to the position of secured creditors. Conversion of substantial debts into equity shares valued at far fetching price , deferral of repayment to longer terms, impairment of certain portion of debts etc etc are all unacceptable to the secured creditors.

10 minutes ago

Any one of creditors refused to accept the scheme proposed by Serbak, liquidation will be the road to travel. Debt restructuring meant more shares will be issued and no moratorium once issued which will drive the price even lower. Debt deferment meant the creditors are there to collect within the predetermined timeframe, meaning Chef and management work to pay off lenders and scr*w the shareholders. Share value will not improved in the long run. With Chef lack of positive reputations, lenders will probably not defer. So issuing more shares will be the ultimate solution besides liquidation.
Assuming 15 billion or more shares are issued, current holders will have nowhere to sell but 1 sen per share.

Serba Dinamik's counsel Mak Lin Kum also informed the court that a scheme of arrangement was also filed on Friday.

However, the creditors and financial institutions who are petitioners in the winding-up led by Datin Jeyanthini Kannaperan, Benjamin Dawson, Datuk John Clark Sumugod, and Karen Tan informed the court that they have to seek instructions from their clients over the proposed scheme of arrangement.

Jeyanthini appeared for the syndicated lenders, while Dawson appeared for the bilateral lenders including HSBC Amanah, Sumugod for Bank Rakyat and MBSB, while Tan for Hong Leong Islamic.

Financial institutions to give feedback on scheme of arrangement on May 25
Mak informed the court and parties that the scheme of arrangement may involve debt restructuring and debt deferment.
https://www.theedgemarkets.com/article/june-8-fixed-hear-creditors-app...

Why today only 156 mill? Yesterday all big holders sold? The end is near?
posted by BobAxelrod > 3 minutes ago | Report Abuse
Ships can only sail out from Port at high tides........yesterday over 1 Billion shares traded was creation of high tide?????

Chef and gang want to nego with bankers and bondholders. He better has more than a fantastic plan to revive Serbak. His words has no value at the moment.
Posted by BobAxelrod > 1 hour ago | Report Abuse
The amount sought by 6 local Bankers is RM1.7 Billions and there are also hundred of Creditors seeking RM1.5 Billions.

Should the Bankers even agree to withhold Litigation, they must at first obtain Judgement from Court. And should Bankers agree to 50% recovery, that would be RM850 million..........

Then, there are those in queue for their piece of the bones........

Wrong, he does not want to go to jail, dare to break the law but dare not face the consequences. If you follow what he said, you will be facing Holland soon.
Posted by adikkici > 3 minutes ago | Report Abuse
Karim will do everything to save SD

Right strategy, those who sit and wait will be permanent suckers.

Posted by rr88 > 2 minutes ago | Report Abuse
Dont be naive n dont try to be a hero. This is trading. Up 0.5 - 2 cents you take yr profit. Down 0.5 to 1 cent you lock in yr losses.

You constantly buying n selling in trading to manage yr risk. I bought n sold 17 times yesterday. 12 times profitable, 2 times breakeven, 3 times losses. You dont buy n wait for market to decide yr luck. You take charge, you take control. Got it boys n girls?

How humble Ramly Burger founder can put Sapura, Serba to shame
That Ramly has grown his business without any element of favouritism and cable pulling has actually made Ramly Burger what it is today. On the hindsight, supposedly if Ramly were to indulge in the game of rubbing shoulders with politicians at the outset of his business venture, there is obviously a high chance that Ramly Burger wouldn’t be around anymore.
https://focusmalaysia.my/how-humble-ramly-burger-founder-can-put-sapura-serba-to-shame/

Morning, after Divi, rights issue cumming up at 5.5 sen.

Morning, as I said many times, only a quarter of fantastic result or rather a few quarters and big boss start sapu will the counter lift up to the sky.

Good morning, unbelievable, I woke up this morning and stared at a Twitter message where an ex DPM asking for divine help in his money laundering and corruption case. And here too we have Chef and gang cooking up books and alleging a conspiracy of others for his predicament. Questioned is where you wish to commit any act that you knowingly knew is against the law please don't blame others and plea for divine assistance.

Posted by DickyMe > 31 minutes ago | Report Abuse
"Posted by Sslee > 1 minute ago | Report Abuse

Many people still believe Najib is innocent and money in his bank is donation from Arab."
=====================================

I don't think so. They know he is guilty but they are not concern.
It is sentiment: "Biarkanlah! Orang kita, kita mesti jaga orang kita."
It does not matter how it is earned. But they are religious!

Wow, Awang sudah lari cepat2, apa macam tak de harapan lagi ke si- Serbak?

Wow, Hiap Tek sifu suddenly disappeared. Thought he charges members for his call to buy?
Tankt88
MoneyMakers

OTB used to sell similar dream @ TP rm1.2..now all become baghodlers

Unfortunately alrdy too late 4 regrets..OTB alrdy run away with everyones money @ move on to nxt syndicate pump&dump stock


Fu ..uk otb

3 days ago

Euphoric rumours government taking over Serbak? Just wait a long long time yah............ Need plenty of dreams yah........

Actually, if you read my earlier post was to Mad Cat. They are hoping Serbak will be back to 50 sen in a year's time. But my argument is how to make it to 50 sen if the company has got no working capital to complete their projects as the O&G industry required huge working capital & lenders are after them.
8899EL8899
alenac,.......pak karim to pay back the bank borrowing & bond?,..........i doubt about it,........if they want to do that,........6 months ago, the default issue have been settled,.......today ,they are planning for restructuring serbadk debt,.......mean money gone,......they may write- off a lot of things ,.......shareholders have to pay for the loses,........your investment gone

10 minutes ago

well, that is Karma of the capital markets. Just like KLSE China-listed companies are shunned by investors.
BursaVulture
Karim may be a Chinese Muslim, but Serba's board is majority stuffed with bumi. The gov literally killed future bumi companies in Bursa with low valuation moving forward. Save 1 company and destroy hundreds of other good bumi companies. Smart.

3 minutes ago

Yeah, obviously, the Stonemaster case was traceable right up to China and back.
BursaVulture
This will be the end of majority of bumi run companies in Bursa. No sane retailers and bankers will want to be involved with them long term, valuation will be low due to the reputation. Not that Chinese or Indian run companies are better, just that no Chinese cheaters got away with fraud when caught with evidence, all ended up in prison.

Easy to talk than to have it done. Assuming Chef and the gang have siphoned all the cash and they have until today holding them somewhere overseas. They will not want to bring them back less it will be traceable to the original source. Another charge will be waiting for them and this time will be AMLA and others.
EVO118
Karim's logic is.
What the hell, just pay it and get it over with. Prolonging it is just going to make it worst. After all it is that easy to siphon the money earlier. There is always another chance to take it all back again if we can get the move on.

22 minutes ago

You are right EPF should sell MBSB to a more aggressive entity and remain as a passive investor.
Loy Loy Cheong

Referring to the youtube video on whether if MBSB is a good investment, the negatives aspect that were brought up can all attributes to the poor or bad management on the company. I have been right all along that the management team are a brunch of wasted fellas which ought to be sacked.

3 days ago

Let me know when Chef and gang going to pay back all loans and bonds.
Mabel
#neohts If by end of the year Serba could restructure and remove from PN17.
50 cents should be no problem.
13/05/2022 11:39 AM

Yes Lah...Mabel thinks the same too..

Meow

1 hour ago

You are right, the reputation of the Chef and gang is gone. No bankers and lenders are going to touch them in future unless they pay back all loans and bonds owing by Serbak. For the oil and gas industry where you need huge working capital, their fate is sealed. The so-called rationalization plan by Karim and the gang is another big bullshit.
BursaVulture
Before that, Karim shout very loud - Do no wrong. If really never do anything wrong, then fight in court lah. Why go find PM and AG and use backdoor to settle? Karim caused many people to lose money, yet these supporters still support and defend him.

It is his 'do no wrong' comment that causes many retailers to double down on Serba and think KPMG was wrong.

No banks will ever support whatever Karim is involved. No investor will support Karim's co. Trust is gone. Once a cheater and liar, forever a cheater and liar.

15 minutes ago

Mad cat dun think you understand, it was Anwar that looked impressive. In the sum up Najib had to admit that governance issues like integrity, transparency and anti-corruption is essential for the future of Malaysia. Of all the people to talk of is Najib himself. Hypocrites are born every minute.

Meaning more shares issued for staff and directors to take up.
Posted by fusing79 > 10 hours ago | Report Abuse
may i know what does it means by " Management Incentive Plan - 3,211,600 shares at 0.210."

Must be the same Joyless person. Anyway, I remember Sumuatake where the "Hunter" fellow was hot selling the counter and took many to Holland. Bumi counters always sell dreams.
BobAxelrod
Ahhhhh...alenac, you must have been reminded and recalled THE Joyvest of Bintai and Solution days.............

14 minutes ago

Good Morning, sex and oats seemed to be odd couple.
Lots of Co*k and Pus*y stories. If you can believe such rubbish story. You deserve to go penniless.
Posted by joyvest > 1 hour ago | Report Abuse
It is said that many bxmi investors have complained to have lost substantially due to "wrong advice to buy call" by so called investment experts ( who are believed to have been "paid " to abet ).

On the above basis, it is believed that the SC would be under " instructions" to assist the aggreived bxmi investors to recoup their losses by approving the regularisation plan by hook or by crook after which the share price is expected to appreciate.....

If the above conspiracy holds true, it is good to buy some now but at your own risk.....

If 2 sen dunno whether syndicate will goreng?

Ppmaster

How low the price can go,really dunno at the moment, need to monitor time to time.

Good afternoon, Serbak will eventually be delisted. Matter of time. If not it will be run by syndicates as in many 2 sen shares companies in the KLSE.

Good morning, Serbak is almost gone. What is left is for the vulture to forage. PN17 imminent. Winding up soon.

Good afternoon, at last the falling knife has reached a level where most would not argue. Horses have left the stable and authorities are toothless and politicians made money screwing the shareholders, creditors and banks.

Chill man, I had my coffee. Just thinking of an outrageous scenario since many are frustrated and angry here.

Kinda like this guy.....hehehe....asking for Funds to work and frustrate the "perfect storm"......Please wake up, it's morning.

Well, maybe not yet to the abyss, prelude to it as the last round would be towards PN17 and delist. Shorting kind of arena on Monday? Does anyone with lots of funds work on a plan to reduce the price spread to frustrate shorting on Monday?

Posted by joyvest > 24 seconds ago | Report Abuse

Basically,no buyers except shortists to close their positions on the 9th.

It is going to be the one way straight plummeting to abyss..

More of speculators will buy Serbak. Every market will have suckers scraping the bottom of the pan. Big risk, big loss but by some miracle dreaming for a turnaround at the very end of the horizon.
BobAxelrod
We have been promised a spectacular show on Monday, an avalanche or massacre of sort. If these 1.4 B shares which is about 50% of NOSH, and additionally the local funds, retailers and mutual funds, it could reach 80%-90%.......basically everyone holding this baby wants out. Buyers = zero, then?

7 minutes ago