hahahaha HQ in Tawau, Sabah, prospects weak?

Actually at this juncture Karim can sell the 1 billion shares he owned and get RM300 million or whatever sum before notifying Bursa if the odds of the company surviving is low. So whatever happened from now is even more uncertain as Serbak reached 10 sen.

Posted by PSAi3alert > Jun 30, 2021 9:38 PM | Report Abuse

Force selling is a perfect excuse for him to sell now. If he were to sell directly, an additional criminal charge for insider trading will be filed against him if the subsequent audit were to show financial falsification. In addition, the pledged share account will be in deficit when the share price tanks further upon lifting of suspension.

Now, he can just blame the financier for force selling.


williamtkb Someone will offloading more tomorrow.... Be prepare to collect below 30cents.... Below 30cents another round margin call force selling. Actually karim can request suspension until audit report out. Then he will have more time. And will not have margin call force selling pressure
30/06/2021 9:26 PM

At last Karim forced disposal appeared and EPF still have substantial shares even below substantial level.

A back-of-the-envelope calculation shows that the latest transaction leaves EPF with 185.08 million Serba Dinamik shares or just under 5% in the group.

https://www.theedgemarkets.com/article/epf-ceases-be-substantial-shareholder-serba-dinamik

All this event is traceable to the refusal of MD to do independent review of audit issues and blames every thing on independents directors.

Posted by i3lurker > Jun 30, 2021 4:24 PM | Report Abuse

thanks rr88

this one delisted lah

Posted by rr88 > Jun 30, 2021 4:16 PM | Report Abuse

Before i go i would like to warn you that its pattern is similar to armada last time. Did u know how low armada went? It was ELEVEN CENTS.

Impossible? Possibility: Appointment of reviewer hit a snag. Extension of time to appoint another one. Bursa takes stern action in a form dont know what. Review takes time. Bad news emerging every now n then during review. Viscious cycle of margin calls feed on itself into never ending downward spiral.

hahahah another run on Serbak this Friday if so true that KPMG not co operative as their lawyer will issue advisory to reject EY. This is what Serbak wants from the start, as their documents are questionable. Then new external auditor will start the audit from ground zero, old documents can discard.


Posted by OrlandoOilSemiconIoT > Jun 30, 2021 3:33 PM | Report Abuse

OrlandoOilSemiconIoT U keep reading statements wrongly

And now u are no longer even talking sense


If KPMG refuses to cooperate tis is d best outcome for Serbadk


Serbadk will tell SC we try to proceed wit d independent review but KPMG refused to cooperate

As KPMG refused to cooperate as such the independent review cannot proceed



INDEPENDENT REVIEW CANNOT PROCEED DUE TO KPMGs fault




Stock Kingdom As I said earlier, as long as there is court case against KPMG by Serba, it is impossible for KPMG to open its files because the information has now become confidential court evidences.

30/06/2021 3:26 PM




X

OrlandoOilSemiconIoT Stamped NFA case CLOSED

30/06/2021 3:29 PM

Syndicates one side buy one side sell, attract sardines to go into net then later got caught kena canned............morning session not really sucessful afternoon looks better.

Yes, fallacy and gullible.

Posted by joyride > Jun 30, 2021 12:36 PM | Report Abuse

Many Malaysian companies have lost millions in their so-called investments and joint ventures with middle eastern countries. I think they don't do due diligence thinking that the Arab companies must be honest because they are Muslims.

Every week since early June, every one says that passed, now 1 month cumming no pussies L-up?


EVERYONE KNOW ONE, JUST HOPE IT WON’T HAPPEN & SERBA PRICE WILL DOUBLE UP IN ONE WEEK

Club Mabel collect pussies.

Wirajati Rr88, add three wives, greencode add three stewardess, coincidence?
30/06/2021 11:44 AM

Hub of mega money laundrying too.
Gtrade it seems Abu Dhabi is the hub for mega fraud
30/06/2021 11:33 AM

Dun worry PPIM will help him restore to last May price level. After all what is Ummah for? No camel bull shit.

Posted by 654321aaa > Jun 30, 2021 11:10 AM | Report Abuse

Why over react ? CEO do have three listed company , he should have solved the problem long ago ,If he has the ability and reality, it won't hurt his other two companies plunged.

After X divi will drop to 56 sen or even below, as KLCI bearish plus full MCO.

Twice closed higher since 03/06/2021 only on 14/06 & 22/06. Still unsettled.

PPIM members coming in to support, one more time for the Ummah. Cannot and must not loose face. hahahahahah...................

Posted by Mabel > Jun 30, 2021 9:33 AM | Report Abuse

Strong support at 31.5 meh...

Buyers is 4 times than seller..

How to collect?

You din say like R88, isteri pon kena jual. hahahahahahha

leno BODOH LAH KO NI
MASSIVE DEBT, NO CASH
WAT FAK GOT WRITE OFF 10% ?
HUTANG 4 BILLION TUNAI 9 MILLION
= NEGATIVE 3 BILLION
WRITE OFF 10%
= NEGATIVE 2.7 BILLION

NTA = NEGATIVE RM 10 RINGGIT

Maksudnya tiap satu share u beli 30 sen, nanti kena tambah RM 10 ringgit setiap share.
Kalau tak tambah, lesap lah share tu.
Kalau tambah, maka lesaplah wang ,kereta, rumah ko tu.
30/06/2021 9:29 AM

PPIM buggers all kena caught with LDs, now want EPF and other agencies to help.

Posted by leno > Jun 30, 2021 9:08 AM | Report Abuse

With all the EXPOSURE after EXPOSURE
Fake website, Fake company, Fake contract, Fake mou, Fake profit
Everyone fully understand about this Fake Sebak.

SAVE YOUR LIFE !!
SAVE YOUR HARD EARN MONEY!!
SELL ALL YOUR SHARE TO PPIM !!

This can't be helped. Many will and had become stock market suckers. One born every minute.

Posted by Wirajati > Jun 29, 2021 9:03 PM | Report Abuse

When one mumbling about najib bla bla, oppo bla bla...ppim bla bla...deep down they are seriously hurt with huge paper loss, perhaps tens of thousands. Go Get help...

Seriously this looks like another 1MDB fiasco.


Posted by i3lurker > Jun 29, 2021 9:03 PM | Report Abuse

Pink Panther 007 sslee posted the Genuine Efire and the Fake Efire

=> the difference is just the Limited and the Ltd

so need EY to check which is better Limited or Ltd

Some more approved by Ketua Aktivis Persatuan Pengguna Islam Malaysia (PPIM), Datuk Nadzim Johan to support Serbak shares.

siaokar judi jangan tak judi, syariah compliant some more
29/06/2021 8:10 PM

Serbak wants to escape from SIR that is why they wish to sack external auditors by hook or by crook and they were successful. But SIR under EY is not assured as yet as EY has not accepted it.

Posted by Bemillion > Jun 29, 2021 8:08 PM | Report Abuse

Alenac you re correct... SC has instructed SD ... for Special Independent Reviewer SIR set up by this Friday ultimatum

I think you are naive, it has now become a requirement of regulators to get an independent review done.


Posted by ykloh > Jun 29, 2021 7:54 PM | Report Abuse

EY's review is no longer relevant as it is a requirement of KPMG who has resigned without submitting an audit report.
The right course of action for SD is to appoint new auditors to prepare report for the 2020 accounts.

Can you show me an example where EPF disposed troubled company and start to buy back at this price?

Posted by dchin472 > Jun 29, 2021 7:45 PM | Report Abuse

hahaha big institution wont sell at loses…epf is the example they sell at loses alrd ，they try to reduce the risk，if they see this as a chance they will add on the money at this cheap price

Posted by alenac > Jun 29, 2021 7:29 PM | Report Abuse X

Every day making landmark historic price. Have not yet gone side way, couple with bearish KLCI it is doomed to fall further.

Posted by Solomon7 > Jun 29, 2021 7:23 PM | Report Abuse

Good observation Ibnushaari. Let see it touches the 25c. I think it is a good bargain then.

ladies and gentlemen, welcome to Serbak De Casino, place your bets for tomorrow.

Yeah I am still suspicious of their refusal to heed the request of KPMG until the KLSE demanded the appointment of an independent reviewer. RM4.3 billions not a small figure. Any adjustments would have impacted the bottomline.

Posted by stockraider > Jun 29, 2021 6:57 PM | Report Abuse

Whether it is EY or KPMG the outcome & findings will be likely to be the same mah, Do not believe in false hope mah!

Yeah, tried to play monkey even before KPMG resigned. Now have to listen to regulators.

"The directive comes as the stock exchange noticed that Serba Dinamik has not announced the appointment of an independent reviewer until now.

Last but not least, the appointed accounting firm must report directly to Bursa Malaysia and the Securities Commission (SC) periodically on the progress of the special independent review as well as the findings upon completion of the review exercise. – June 29, 2021"

https://focusmalaysia.my/serba-dinamik-to-bursa-malaysia-your-wish-is-my-command-but/

Concur with you. Why need to co operate when there is a legal suit against you?

Posted by alieyasmart > Jun 29, 2021 2:22 PM | Report Abuse

Me dont think that KPMG will easily give access to EY

Hihi

Posted by OrlandoOilSemiconIoT > Jun 29, 2021 2:07 PM | Report Abuse

Not gonna jump d gun n do a KPMG to SC

stock kingdom to interpret tis again carefully tis time


1. EY need to have full and unfettered access to KPMG PLT for information and confirmation for the purpose of analysing the transactions and concerns highlighted

Question is why management did not hire an independent reviewer in the early part of KPMG audit when they have found lots of disputable items? Why delay and refused until ordered by KLSE? "Ada udang disebalik batu?"

Posted by newbie128 > Jun 29, 2021 2:16 PM | Report Abuse

Bobvic96 thats why directors run run hahaha. One look at the accounting book even director fees not worth it if need go jail hiak hiak.

I bet you these nominees are "yes men" of the management.


“These are very highly reputable individuals who have garnered the respect from the public at large during their tenure serving the people of Malaysia.

“So, there will be more credible and stronger figures who are coming to take up the vacancies left by the exiting directors,” he told TMR.

The shoplot chairman is critical of the former directors, one of them is an ex KPMG partner. There is more to audit issues than it appeared to be. Question is, whether the chairman is aware of the nitty gritty of what is going on and is he truthfully brief by Karim and gang. Ignorance is not a bliss.


"He said the ex-INEDs’ resignation was mainly because they were not able to face the challenges arising from the audit concerns.

“They did not do much against KPMG. When it comes to crisis management, they could not manage it and did not know how to solve the crisis. Thus, the fastest way for them is to resign. There is nothing to hide because we are a public listed company. Serba Dinamik has 7,000 staff, how can we lie to them?” he asked."

KLCI moving towards 1452 pts. Bearish move, even blue chips will be victims of market down turned, with indefinite MCOs.

hahahahahah How many sardines gonna to be canned today?

Good price, opportunity for EPF to unload. hahahahahah..................

Conditional upon accessed to KPMG files. If KPMG put a spanner in it, what happened?

Fklim888 EY just appointed for reviewer ... sudah terbang ka ?
29/06/2021 10:12 AM

hahahahahah EY appointment is not a significant event, should have done it much earlier. Anyway last opportunity for holders who got caught to exit. Remember EPF and other forced sale will continue.

Posted by pearlwhite > Jun 29, 2021 9:03 AM | Report Abuse

.,
When you objectively look at KLCI, you know alot of retail investors "blom tau apa makna mati lagi"

every decade, there are definately 2 groups of waterfish that get their fingers burnt, not to mention old timers.

never learn.

Reporter does stage show for him and does not asked hard questions to him. Wayang2 shiok sendiri.......Should get Aljeezera....like interview Najib.....

Posted by 654321aaa > Jun 28, 2021 10:30 PM | Report Abuse

No body got interested to see the karim youtu any more..dump dump.

Jun 28, 2021 2:59 PM | Report Abuse

EY wants to go in with their eyes wide open. Possible to weigh whether to take or reject the job.

KPMG advice them and they ignore and were not serious to get independent reviewer until Bursa wrote and tell management then only reluctantly comply to appoint a third party.

Ron90 masak ler.. KaL1m playing delay tactic but Bursa doesnt buy it, last friday suppose to annouce, they delay, and this will be the second time Bursa rquest for independent reviewer, 2 july.. no more 1-2 week than become months. than years, than excuse with court proceeding, etc..
28/06/2021 9:37 PM

23rd Turnover was only 130 mill, 24th ? 25th? & today how much EPF disposed?

mf 28-Jun-2021 Insider EMPLOYEES PROVIDENT FUND BOARD (a substantial shareholder) disposed 2,035,000 shares on 23-Jun-2021.
28-Jun-2021 Insider DATO' AWANG DAUD BIN AWANG PUTERA (a company director) disposed 8,000,000 shares on 25-Jun-2021.
28/06/2021 9:46 PM

Methinks another 5 more working days for funds to dispose, by early next week dust will settle.

Posted by derrickinvestor > Jun 28, 2021 4:40 PM | Report Abuse

epf continue dispose

14 mill disposed at 32.5 sen for sardines to buy.

Yeap another run on its price.

Posted by iHunter > Jun 28, 2021 4:28 PM | Report Abuse

Now, hiring EY as reviewer has no value. Investors unable to sue reviewer if any misleading info. You can only sue Auditors if they provide misleading info.

If they fail to get EY as auditor instead of reviewer, they already send "warning message" to investors.

Serbak won't act fast anything done fast will be for benefit of owners. Eg appointment of independent reviewers since before LDs until now not settled while share price have collapsed.

Posted by shybutter > Jun 28, 2021 4:23 PM | Report Abuse

I dont know how long is the procedure or process of appointment needed, but i do personally think Serba has do it immediately

Https://www.nst.com.my/business/2021/06/702915/serba-dinamik-finalise-...

Come to think of it, this Uncle already lost his pants buying Serbak or 2 other companies. What you get from suing an angry article?

Posted by dimmubroker > Jun 28, 2021 4:13 PM | Report Abuse

Sue because of ponzi scheme accusation. That is real slander

Posted by alenac > Jun 28, 2021 4:12 PM | Report Abuse

First sue KPMG, now want to sue "Uncle" who wrote Serbak is a Ponsi co.
The more you sue, the more people think you are not transparent or maybe you are not truthful after all.

First sue KPMG, now want to sue "Uncle" who wrote Serbak is a Ponsi co.
The more you sue, the more people think you are not transparent or maybe you are not truthful after all.


Posted by i3lurker > Jun 28, 2021 4:06 PM | Report Abuse

thats why I propose that they sue EY to get quotation will be faster

I dun think so. But they give advise that chef karim has same religion with them so should help support his counter. This is what I call suicidal, no commonsense and without logic. Capital markets don't behave this way, and not influence by religion but sentiments.


Posted by i3lurker > Jun 28, 2021 3:49 PM | Report Abuse

Leno

I think they have Capital Services License to give investment advice lah
otherwise they wun post right?

I am so confused leh

3 times tried to approach the management, they rejected or remained silent. Who can wait when Serbak shares are being hammered down?


Posted by Sslee > Jun 28, 2021 3:20 PM | Report Abuse

Frankly Speaking: Could Serba Dinamik’s institutional investors have tried a different tack?
TheEdge Mon, Jun 28, 2021 12:35pm - 1 hour ago

EY wants to go in with their eyes wide open. Possible to weigh whether to take or reject the job.

Posted by DickyMe > Jun 28, 2021 2:57 PM | Report Abuse

Why "one or two weeks"?

Why not appoint immediately at this pressing moment to clear issues?

Why tunggu lama2?

Posted by alenac > Jun 28, 2021 2:14 PM | Report Abuse X

Let's hear what the regulators say. Last time when Chairman open his mouth regulators also denied they are in contact with Serbak management? Is this another lie?


“Independent review has been an issue, which has already been appointed by the board. The discussion with the regulator has also proceeded for some time by the previous (board members).

“Further fine-tuning will be taken up by the existing and new (board members) together with the regulator, we are resolving this, it has to be settled as soon as possible.”

Besides legal options, he said other options are also on the table including talking to the government, regulators and bankers.

Not a question of alignment but more of from the start management was not in favour of independent reviewer. What are they afraid of?

Posted by Stockhunter88 > Jun 28, 2021 11:41 AM | Report Abuse

Alenac
You think EY mindset align to KPMG, or the management /lawyer.