How do you know to eat BBR? Maybe already prepared to be charged and planned their exit since got at least 6 months after the issue blow up?

Posted by piranha88 > Dec 30, 2021 2:10 PM | Report Abuse

I am waiting to see those who cheated eat black bean rice

Just wait when the Chef starts selling his stake. Many were like you in Serbak. Now cry no tears.

Ham5ter Yesterday investors panic sell, while long ago the stock already excluded Karim factor. Panic sell was not rational at all.

Time to collect
30/12/2021 11:14 AM

Laundered and kept in Abu Dhabi, the world center of money laundering. Jho low style, like kept for Jibby by Price (Prince) Turkey.

Posted by InsiderShark > Dec 30, 2021 12:13 PM | Report Abuse

hundred of millions send to middle east every quarter.... send to whom and what if those projects are fake. where are the monies?

I remember the stone master episode, the millions went on the round-robin to china and back.

Posted by shareinvestor888 > Dec 30, 2021 11:31 AM | Report Abuse

IF SC managed to show conclusive proofs that Serba did falsify as alleged in the charges, Then Next Big Question is Where did the Bank loans & Bonds Proceeds go to?

Who would then investigate Serbak’s Ceo & management on where the money from bonds & bank loans went to? Or impossible to investigate?

Yeah, bondholders should quickly get the Serbak house in order, the longer they wait more assets start to disappear.

Posted by shareinvestor888 > Dec 30, 2021 11:25 AM | Report Abuse

You are right @alenac…. Only bankers & bondholders sweating now because they know exactly how much Serbak owed them!

Everyone in Serbak cabut already. All top management sudah kena charge, sinking ship rats also want to jump ship. Who is going to do the compliance and announcement?

Posted by shareinvestor888 > Dec 30, 2021 11:20 AM | Report Abuse

No announcements from serbak on Total Bank Borrowings & Total Outstanding Bonds as at Today!!!

I think the default in coupon payment recently already meant a violation of the insolvency declaration? Any comment?


If the company were to be insolvent within 12 months of the last dividend payment, the directors can face criminal and civil actions under the Companies Act 2016 (Section 132 Distribution only if company is solvent and Sec 133 Recovery of Distribution).

Chef jual satay, all smoke no meat only stick.


Posted by Faiza > Dec 30, 2021 11:02 AM | Report Abuse

https://www.theedgemarkets.com/article/petronas-denies-collaborating-s...

imdb = imdb 2.0
similarity, all fakes

All kena caught here gone mad waiting for Government to rescue the company like paying Brim to rakyat. Ask Abang Johari whether he dare to save SCIB, Serbak and Kpower?

I am with you on this but there are still people in denial.

Posted by i3lurker > Dec 30, 2021 10:42 AM | Report Abuse

no way Serba can be rescued

shortfall of RM3.5 to RM4 Billion is too much

=> unless Govt wants to shut down all hospitals in Malaysia and sack all doctors and nurses and give money to Serba

Pitiful to lose money until can't think rationally.

Posted by Nikmon > Dec 30, 2021 10:34 AM | Report Abuse

what is rational to save SD?

AlsvinChangan quoted WHAT is wrong
" "The focus is to save SD but not "investors" "

SD may continue to exists AND maybe not but investors highly likely to loss money

Read also cannot understand Low IQ

Save Serbak from whom? Serbak is still alive just waiting for receivership.

You have a brilliant IQ, but you lose in Serbak? Can't sleep peacefully? Or are you an employee of Serbak waiting for the company to shut down?

Posted by AlsvinChangan > Dec 30, 2021 10:27 AM | Report Abuse

WHAT is wrong
" "The focus is to save SD but not "investors" "

SD may continue to exists AND maybe not but investors highly likely to loss money

Read also cannot understand Low IQ

Just wait when Karim 15% stake is thrown into the market. What price will Kpower sink to?

Are you confused and can't think properly? This is an investment forum and therefore for investors or shareholders of Serbak.

Posted by AlsvinChangan > Dec 30, 2021 10:11 AM | Report Abuse

muhfiq,treatshijau, hijau belalang

The focus is to save SD but not "investors"

Miss one, this ID kena charged ie Abu Bakar bin Uzir. Can figure why he claimed trial?


Posted by leno > Dec 30, 2021 9:57 AM | Report Abuse

Sebak Fraud Accounting Players

1. Mohd Abdul Karim Abdullah
(chief executive officer)
- furnishing false statement to Bursa Malaysia

2. Muhammad Hafiz Othman
(vice-president of accounts and finance)
- creating fictitious sales, causing falsified revenue
- submission of false statement.

3. Syed Nazim Syed Faisal
(executive director)
- submission of false statement.

4. Azhan Azmi
(chief financial officer)
- submission of false statement.

5. Muhammad Shafee Abdullah
(crook lawyer)

The last 4 independent directors that resign must be haul up to court and jail for abetting and cover up Karim Abdullah stealing and cheating millions of cash and producing fake profit in sebak account.
-Illyas Pakeer
-Johan Ishak
-Farid Hasan
-Siti Zaleha

Good Morning, all losers here. (whoever loses money). Nothing can be done to your investment in Serbak. Don't write long articles gloating over failed investment in this counter. Nobody can save you for your stoopidity.

Why worry for Chef? The whole top management should be crucified for cheating the public.


Posted by InvestorKING > Dec 29, 2021 7:42 PM | Report Abuse

And again, just wondering whether Karim or his management later can take any legal action against SC for their abuse of power for wrongly allegated them for this?

hahahahah this guy is ignorant. Even 1 invoice false can charge under the Act. 6 billion false sales figure provided by Serbak management where the actual is lower, that figure misleads the public that Serbak is doing well. No need to wait for an audited figure, if not mistaken, any quarterly report is a statutory declaration. Just like tax returns, the form is a statutory declaration and any taxpayer who fills in the wrong figure has committed the offence under the Income-tax Act.


Posted by InvestorKING > Dec 29, 2021 7:33 PM | Report Abuse

Three funny parts:
1. Why after so long (after 6 months) then only charged?

2. Why SC charged SD and higher management and Karim for RM 6billion false sales? I thought EY already confirmed that 3Bilion++ already verified in Malaysia, and left only 1.4billion in oversea remains unverified? (Previously kpmg claimed that only 4.54billion were suspected, but now is 6billion????) What a joke???

3. And why this SC charging without waiting for the final audit result, but DPP already charged them for 6billion false sales revenue??

No need to find out, just 1 fake invoice can also be charged.


Posted by shareinvestor888 > Dec 29, 2021 4:51 PM | Report Abuse

https://www.theedgemarkets.com/article/sc-charges-serba-dinamik-vp-acc...

Curious how much revenue is not false then?

Word has it that Jho Low whole family is protected by Chinese provincial officials. Of course, he has to pay to live there. But the amount of money he stole can keep those officials contented for life. Look at the conference held by Chinese businesses invite to Najib, you know they couldn't be bothered whether Malaysia lost in billion, to china warlords they are business as usual so do Ketuanan here as long as Brim is given. Money is everything.

superrr Yeah, But Jho low still get away with it and enjoy the endless $..

Displaying another "Najib" show. The passport is not impounded because have to go to the Dubai exhibition? Play golf to promote Malaysia. All convicted felons should go and promote Malaysia will be allowed to travel overseas as an ambassador of Malaysia.


“We brought him today,” he said, adding that several calls were made to the Attorney-General and Prime Minister’s Offices to defer the prosecution.

Shafee said this is because Karim will be attending a trade expo in Dubai next week to woo investors.

“Serba Dinamik and Petronas will be bringing in investment to the tune of RM33.9 billion,” he said, adding that Karim is also scheduled to give a speech at the expo.

Deputy public prosecutor Zul’aida Zulkifli, who was assisted by Mohd Hafiz Mohd Yusof Mohd, proposed a RM2 million bail.

Hafiz said the warrant was not executed out of good faith by the investigating officer but that the prosecution still wants a court order that the accused hand over his passport to the court.

https://www.theedgemarkets.com/article/serba-dinamik-ceo-charged-sessions-court

Before Sessions Court judge Datin Sabariah Othman on Wednesday, Abdul Karim pleaded not guilty and claimed trial.

https://www.theedgemarkets.com/article/serba-dinamik-ceo-charged-sessions-court
Posted by BobAxelrod > Dec 29, 2021 3:03 PM | Report Abuse

I think with Interpol "eye in the sky" also cannot get his facial recognition because already new face, new shirts, new underwear and new tie.

Police can easily trace him by tracking where his handphone "ping". Even if he is in Xinjiang. What so difficult?

Posted by superrr > Dec 29, 2021 2:47 PM | Report Abuse

Where is karam ?As long as spies his mobile with his family, relatives and friends, he will be caught quickly...

****************************

Je was in court today. Rm500,000 bail and gets to keep his passport.

Not so smart ID, got caught in the net and charged by SC despite being an accountant, probably a tax agent as well as an auditor?

ENCIK ABU BAKAR BIN UZIR
Age 43
Gender Male
Nationality Malaysia
Designation Independent Director
Directorate Independent and Non Executive
Type of change Appointment
Qualifications
Professional Qualification
Chartered Tax Practitioner
Chartered Tax Institute of Malaysia
Chartered Accountant
Malaysian Institute of Accountants

Talk east talk west and talk c*ck also no use. Listen to the naysayers early in June 2021, sell all cut loss, then you will be alright. can shout tangkap karim with glee. Sleep well at night.

Falling price and Falling knife?

Karim sudah lari ke xinjiang? Kawen kata dia ada dijln beijing diurumqi pakai kopia jual roti payan kari kambing.

Looks like you dun need audited report to charge directors for false information, likely quarterly disclosure is a statutory declaration.

Posted by joyvest > Dec 28, 2021 11:20 PM | Report Abuse

All the profits boasted to be made by LsdyMeow has been more than wiped out by the loss of averaging till negative value now.

What was made earlier on was totally fruitless now....

Posted by iPlay > Dec 28, 2021 11:14 PM | Report Abuse

Any idea what was the fraud... technically ? what and how ?

"Earlier the same day, the regulator charged the group, its director as well as officers for submitting a false statement to Bursa Malaysia Securities Bhd — which is an offence under Section 369(a)(B) of the Capital Markets and Services Act 2007 (CMSA) — in relation to a revenue figure of RM6.014 billion contained in Serba Dinamik’s financial report for the quarter and year ended Dec 31, 2020."

https://www.theedgemarkets.com/article/sc-secures-arrest-warrant-serba-dinamik-ceo

25 Nov 2021
Name ENCIK ABU BAKAR BIN UZIR
Age 43
Gender Male
Nationality Malaysia
Designation Independent Director
Directorate Independent and Non Executive
Type of change Appointment
Qualifications
No
Qualifications
Major/Field of Study
Institute/University
Additional Information
1
Professional Qualification
Chartered Tax Practitioner
Chartered Tax Institute of Malaysia
2
Professional Qualification
Chartered Accountant
Malaysian Institute of Accountants
3
Professional Qualification
Certified Financial Planner
Financial Planning Association of Malaysia
4
Degree
Bachelor Degree with honours in Accountancy
Universiti Utara Malaysia

Dun play2 ID kena charged if still in the BOD, no wonder the rest scuttle like rats, including the policeman

Independent non-executive director Abu Bakar Uzir, who appeared for Serba Dinamik to answer the charge against the group, also claimed trial, said the SC in a statement.

Under Section 369(a)(B) of the CMSA, a person found to have made a false or misleading statement to the SC, the exchange or approved clearing house, if convicted, faces a jail term of not more than 10 years and a fine of not less than RM3 million, or both.

https://www.theedgemarkets.com/article/sc-secures-arrest-warrant-serba-dinamik-ceo

New team of bank appointed receivers to salvage what is left to pay bondholders and creditors. Shareholders probably get nothing.

@Vicky quoted well most likely Serba will be takeover by a new team and new CEO. too big and too sayang to go bust
28/12/2021 7:51 PM

Failure must be a journey to oblivion.

“Success is not a destination, it is a journey,” Mohd Abdul Karim said in the company’s latest annual report. He is one of the corporate figures worth watching.

Looking at the past year's financial statements are separate issues. Unless there are significant false accounting is done that justifies probing further, the authorities will not do so.

Posted by armadatuah2017 > Dec 28, 2021 4:54 PM | Report Abuse

kpmg only last year red flagged?? all this while how do they verify the AR and bloody the accounting standards presented

Can resign and state reason difficult and uncooperative management and thus audit cannot be completed.

Posted by Sslee > Dec 28, 2021 4:34 PM | Report Abuse

Sooner or later the external auditor still need to submit audited account and most likely SD is already a negative equity company.

So KPMG was right after all. So many had attacked KPMG about the 1MDB fiasco and linked them with negligence over the audit just because they bought the shares and lose money. Looks like with the chef disappearance the civil case with KPMG probably be dropped.

You can't help but laugh at Chef supporters. Top management already run away with cash so who is going to run the company?

Posted by muhfiq > Dec 28, 2021 4:03 PM | Report Abuse

only the top management kena
so i think the company could be saved again
some informations above are manipulated
dont spread fake news

Why do people still want to believe EPF and KWP still got a stake in Serbak? Feel good, is it?

Posted by superrr > Dec 28, 2021 3:40 PM | Report Abuse

Better check first before u talk.

Datuk Syed Nazim Syed Faisal, group chief financial officer Azhan Azmi, and vice-president of accounts and finance Muhammad Hafiz Othman, 3 persons misleading shareholders. Possible class action against them and Chef for their intention to cheat.



Report: Serba Dinamik, senior execs charged with feeding Bursa Malaysia false financial info
Tuesday, 28 Dec 2021 02:27 PM MYT

BY DANIAL DZULKIFLY


KUALA LUMPUR, Dec 28 — Serba Dinamik Holdings Bhd and three of its executives were charged at the Sessions Court here today with allegedly furnishing false financial statements to Bursa Malaysia Securities Bhd

According to the Edge Markets, those charged were executive director Datuk Syed Nazim Syed Faisal, group chief financial officer Azhan Azmi, and vice-president of accounts and finance Muhammad Hafiz Othman.

All three were charged under Section 369(a)(B) of the Capital Markets and Services Act 200, which covers the offence of intentionally providing false information to a stock exchange, among others, regarding a security or derivative.

Their charges were read together with Section 367(1) of the Capital Markets and Services Act 2007, which deems office holders liable for offences committed by the body corporate.

The firm was also charged under Section 369(a)(B) over an allegedly falsified financial statement on profits recorded by the firm for the fourth fiscal quarter ended on December 31, 2020.

The executives appeared before judge Sabariah Othman and pleaded not guilty.

They were represented by lawyer L.K Mak.

Sabariah set RM300,000 bail with two sureties each for each of the three accused, and ordered them to surrender their passports and report once a month to the nearest Securities Commission (SC) office until their disposal of their charges.

In another Sessions Court, Serba Dinamik non-independent executive director Abu Bakar Uzir pleaded not guilty on behalf of the firm in front of judge Hamidah Mohamed Deril on the same charge.

If convicted, the accused could face a prison term not exceedin

Should be down all the way, unless current directors can support the price plunge soon.

From RM2.70 till 48 sen, already plunged fully. What is left of his 3 companies and poor shareholders.

Posted by TreeTopView > Dec 28, 2021 12:11 PM | Report Abuse

I'm a little bit surprised that KPower hasn't been smashed on this news. Although he's resigned from the company he still holds around 15% of KPower.

Poor Kacang Putih, lose her panties defending a crook.

Posted by MiaoMiao7 > Dec 28, 2021 12:02 PM | Report Abuse

PearlWhite next article is how SC is wrong.

There you are guys, when he was selling warrants pre-suspension of trading told you guys he is ready to run. More signs later he was transferring K-power shares to his close associate. So now we know he has got info of pending SC charges.

Dun worry there will be more homeless and sickly for the government to take care of. These people will become the vote banks for UMNO. The end justifies the mean.

Another of Kacang Putih propaganda.

The devastation Serba Dinamik suffered due to the abuse of Qualified Privilege that fuelled negative publicity with unsubstantiated allegations - Full
Author: ǷearlꙌhite | Publish date: Mon, 27 Dec 2021, 7:50 PM

Slim recovery of investment, but anyway good luck for those who are caught big time.

Posted by superrr > Dec 27, 2021 9:17 AM | Report Abuse

Another 4 days for bad news to announce...

True, that day won't be far when the extremist wholly takes over. To them, assimilation of the majority culture and not the accommodation is their priority. While the majority culture is moving towards Islamist conservatism making assimilation for nons far too wide a gap.

Posted by Eastern686 > Dec 25, 2021 10:39 PM | Report Abuse

If M'sia Chinese is not 23% of Msia population, but a meagre 0.23%, what Chinese as medium of instructions in SJK(C) we want to champion about? Tmro also UMNO gov will abolish all Chinese primary school.

Tobby, you are right that at present, mainly the malay language teachers are unable to teach in English. But it does not mean that the government can't offer English medium schools. Oldman did change the medium of instruction for science and maths to English. But it seemed that those pupils in the urban schools excels and left the rural students way behind. That is not good for the majority race. However, the government can offer options to parents by allowing government-funded English schools as before the 1970s. But there is no political will to do that and also English as a medium of instruction has become a commodity to sell privately after the 1970s. Expensive International schools for the rich and powerful and of course meant for foreigners where the medium of instruction is English became the norm.


For Malaysia, chinese schools should follow learning STEM in English if national school change language of instruction in English!
However, having said that, our teachers may not be able to teach STEM in English! Our teachers are ill enquip! Our teacher after decades of teaching in Bahasa will not be able to adapt!
Idealism and reality are two different thing! Sad but true!

The issue is not SMJK, it is more of abolishing Chinese primary schools because it is divisive to unity among multicultural Malaysia said the extremist politician mainly among the Malays. This issue if you believe almost always brought to the limelight when the majority race perceived that they are on the verge of losing political power in the country as a result of infighting among themselves over the resources of the country.

Posted by Eastern686 > Dec 25, 2021 9:50 PM | Report Abuse

BM has long ago been the language of instructions in SMJK (华文中学）.
Many Chinese do agree that BM be the language of instructions in all secondary school (though they may prefer English to BM if given a choice).

May I ask uncensored and Up_again do you send your children to national school?

And for yourself where you learn your chinese and which school had you go through?

By the way, uncensored seems cranky, 走火入魔。

Don't fool yourself. However you justify the statistics on non-Chinese enrolments in the said schools, politically it is not going to change government policies favourable to minority languages. Even in English the command and teaching of the language have deteriorated. Obviously, we can see today in the cabinet itself comprising of those who have no command of English and no knowledge of the language.

Posted by Sslee > Dec 25, 2021 9:25 PM | Report Abuse

In chinese primary school. 3 language Bahasa Malaysia, English and Chinese are taught in the school.

https://www.freemalaysiatoday.com/category/nation/2021/03/10/a-chinese...

According to figures from the education ministry, about 16% of the students in Chinese schools were Malays with Indians making up around 2% of the total enrolment.