I think earlier, when they cannot agree with KPMG, The auditors have advised them to get an independent reviewer as their CFO and Indie directors are not capable of resolving the matters.


Posted by Huangbk72 > Jun 28, 2021 11:33 AM | Report Abuse
Everyone with business sense will see through this charade.

If its easy, EY would have take up this case last week.. add another 2 weeks.. becomes 1 month.

SInce when appointing an independent reviewer takes so long in this important case.

Until now, still negotiating with the other auditors.. believe none is comfortable taking up this case.

Yeah, indicator is when EPF clear Serbak shares.

Posted by goldenluck16 > Jun 28, 2021 11:29 AM | Report Abuse

Don't hope for any strong rebound, big sellers haven't finish dumping.

Probably EPF and other top 30 funds leaving. Need updated list to see the impact.

Posted by Stockisnotfun > Jun 28, 2021 11:26 AM | Report Abuse

Can tell me why everyday volume so high?

But Management and lawyer said small issues no need raised red flags. If so when EY saw the documents, they will instantly take up the case, why wait 1 or 2 weeks.


Posted by Stockhunter88 > Jun 28, 2021 11:23 AM | Report Abuse

This accounting case will take forever to resolve, just look at luckin, 1mdb, wirecard, hin leong case will do.

Yeah, sad but some deserved it. A number of them clearly does not know that you do not rely on financials and cashflow but you need to know the business intangibles.

Posted by Huangbk72 > Jun 28, 2021 11:13 AM | Report Abuse

Posted by alenac > Jun 28, 2021 10:33 AM | Report Abuse X

hahahaha few punters here has gone mad from averaging down. Blame yourself for your loss or just go up any building and jump down.


Alone is ok.. hopefully no one follow him.

Talk Big, Threaten Forumers, Cant even read financial accounts...

Some of the PBB unit trust funds already Koyak.

Posted by Loading > Jun 28, 2021 11:13 AM | Report Abuse

PubicBank now set TP 0.44 .. haha

kira2 bulu ..

hahahahaha more foot dragging.............

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

Some of them deserved it as they scold other people for their own loss.

Posted by amet2017 > Jun 28, 2021 10:40 AM | Report Abuse

Walawei this keyboard warrior so geng one. To the extent asking people to commit suicide. This shows how bad social media nowadays. People's life is not for you to make a joks. Really disgusting.

Posted by alenac > Jun 28, 2021 10:33 AM | Report Abuse X

hahahaha few punters here has gone mad from averaging down. Blame yourself for your loss or just go up any building and jump down.

No pipi to blow today. He will come back when the tide is turned. Make a few buy calls. Future Serbak BOD.

Posted by Huangbk72 > Jun 28, 2021 10:21 AM | Report Abuse

Where is Punpipi? or Konpipi? or Suepipi?

Still not coming out?? Say something good about SD pls...

11 mill buy shares at 33.5, only time before EPF throw and bring down Serbak further

Yeah within 12 months liquidate directors send to the cleaners.

SFC1980 Adui, you guys please wake up d. Still dividend. You guys don't know at mid of 2022 have rm900m sukuk due meh? To distribute dividend you need to solvency test under company act. Can pass thru? Don't dream.
28/06/2021 9:57 AM

On Chef Karim, too hot the kitchen is burning, he should get out.

Posted by bobvic96 > Jun 28, 2021 9:24 AM | Report Abuse

SCIB getting hammered too. A judgement on who?

MS has suspended their evaluation of Serbak.

Posted by Vicky > Jun 28, 2021 9:21 AM | Report Abuse

Be cool bro. Evaluation by Malacca securities Serba still worth 0.57 minus the cases.

Yeah world power house for money laundrying.

Posted by Alex™ > Jun 28, 2021 9:09 AM | Report Abuse

ABU DHABI POWER

Today superfast price collapsed.

Good morning, another batch of sardines gonna to be canned today?

Please do not deal in shares if your matomatik is poor. Which also meant that your logic is off and commonsense is terrible.

Posted by Sslee > Jun 27, 2021 10:13 PM | Report Abuse

Posted by polycarp > Jun 27, 2021 10:07 PM | Report Abuse

If one Malaysian billionaire can give
one million to each Malaysian all
will be happy.. .it only takes less than
30 million. Malaysia small population.
Problem easy to solve.

Haha yes Malaysia small population with only 30 people so 1 million each per population 30 million all settle.

3 times Funds associations requested for dialogues all deny and blame old independent directors and refused to heed Indie directors not to sue KPMG.

Posted by Dante5566 > Jun 27, 2021 10:05 PM | Report Abuse

bojed, no guarantee new auditor would finish their work, can take the cue from recently resigned IDs

yes, you are being realistic, compounded by EPF selling, my estimate at least another 6 days of continuous disposal of at least 35 mill shares a day.....plus all others substantial holders downloading made it buyers market next week and after.


Posted by getingreal > Jun 27, 2021 1:00 PM | Report Abuse

DATUK ABDUL KADIER SAHIB according to disclosures holds close to 603 million shares @ 1.61 a share they were worth about 970 million. At 41c they are now worth about 250 million. Simple math that's a drop in market value of about 75% or a loss of 723 million of their face value.

My guess bankers will be very very nervous. So beware of the banks that are trying to promote SB share price with high Target Prices and reconditions to buy. They maybe trying to drive the share price up to save their own skin.

If the price continues to slide, which I think is highly likely, then any bank that has lent money on SB shares must start heavy margin calls. As one of SDs directors has already admitted his bank has already done so and he was forced to sell shares.

The fragile market for SD shares cannot hope to absorb very large quantities of additional shares being sold at must sell price, in addition to EPFs unloading.

Believe me the Serbak Chairman will not pick people who are more intelligent but more of appointee likely to be mavericks and less independent and more to protect owners'interest.

Posted by Jeffreyteck > Jun 27, 2021 1:20 PM | Report Abuse

Another happy day for bursa tomorrow as semua dynamite is expected to continuing contribute additional income. New director vacancies for talents to pick up too.

yes, you are being realistic, compounded by EPF selling, my estimate at least another 6 days of continuous disposal of at least 35 mill shares a day.....plus all others substantial holders downloading made it buyers market next week and after.


Posted by getingreal > Jun 27, 2021 1:00 PM | Report Abuse

DATUK ABDUL KADIER SAHIB according to disclosures holds close to 603 million shares @ 1.61 a share they were worth about 970 million. At 41c they are now worth about 250 million. Simple math that's a drop in market value of about 75% or a loss of 723 million of their face value.

My guess bankers will be very very nervous. So beware of the banks that are trying to promote SB share price with high Target Prices and reconditions to buy. They maybe trying to drive the share price up to save their own skin.

If the price continues to slide, which I think is highly likely, then any bank that has lent money on SB shares must start heavy margin calls. As one of SDs directors has already admitted his bank has already done so and he was forced to sell shares.

The fragile market for SD shares cannot hope to absorb very large quantities of additional shares being sold at must sell price, in addition to EPFs unloading.

Now not junk sale as yet, when EPF and other funds have exited and Karim and gang gone, then only can rummage through the Serbak kitchen to see how much leftover value.

Posted by leno > Jun 27, 2021 12:51 PM | Report Abuse

So, tomorrow 1st group buyers will be the same people who sold last week.
They can't help themselves being suck back into the black hole.
It is like seketul Taik can't help itself being drawn into lubang jamban.

2nd group will be those who only look at share price.
Last month RM 1.50, now only 21 sen or 11 sen ..
they thought this is like shoppee or lazada, got big sale.

Last month nike vaporfly RM 1,000 , tomorrow RM 50 ringgit - 90% discount !
And instead of buying 1 FAKE nike at rm 50, they go buy 20 pair of FAKE nike.

Which will u be ?

Seriously if Karim and gang want Serbak and 2 other companies shares to move up, he and his team has to resign from not only Serbak but SCIB and Kpower. Let an independent party takes over. If not the downward trend will sustain.

Won't be suspended, bursa will allow freedom to trade. The price will just collapse till minimum value 1/2 of 1 sen.

Posted by Luckyboy88 > Jun 27, 2021 12:16 PM | Report Abuse

I have a query and can someone help.

Let's say I decide to buy 100k worth of SD shares on Monday morning and it happen this ctn got suspended once all my orders matched by bursa.

1) cash acc only have 50k and no others share in portfolio
2) clearance : T+2 with no margin acc
3) I dun have any mean whatsoever to come up with the balance 50k

Since suspended, I can't cut lost or take profit what will my broker do??

You are arguing with people here all deep in Serbak mud, all deep in fear of huge losses, they dun have commonsense any more. Just let them be.

Parksonguy This company is suicide pill. Are you smarter then director board member that jump ship already?
27/06/2021 12:08 PM

Serbak must have paid Indie directors in thousands RM every month, so have to do PR for the company? Clownish chairman........I am sure ex indie directors knows what's cooking in Serbak kitchen more than this newly crowned chairman.

Posted by i3lurker > Jun 27, 2021 11:24 AM | Report Abuse

thats called "How to make enemies and influence people sell Serba shares"

Sneakpeek Chaiman started talking bad about resigned directors..expect more drama. We may see some retaliation

https://www.bharian.com.my/bisnes/korporat/2021/06/832353/serba-dinami...
27/06/2021 11:19 AM

Yeah where to get PE of 2.4? Unfortunately non tangible issues sank the company. Trusts particularly.

Posted by Steady Punpipi > Jun 26, 2021 7:18 PM | Report Abuse

Serba Dinamik net profit soars to RM631.7mil in 2020
CORPORATE NEWS
Friday, 26 Feb 20216:39 PM MYT

KUALA LUMPUR: Serba Dinamik Holdings Bhd said its net profit in the last quarter jumped 43% to RM202mil, as revenue swelled by a third to RM1.81bil.

This boosted its full year earnings to a new high of RM631.7mil, or 17 sen a share.

wow, get Khazanah to buy and bail out everybody including EPF, I don't mind at all I am EPF member. So all shareholders who got burned in the last 14 days make a beeline to Khazanah office to claim your losses.


Posted by nuilam hali > Jun 26, 2021 7:06 PM | Report Abuse

Serba is bumiputra company, government should save them

yeah good strategy if you are loaded. But not encourage to be used on problem companies.

Example :-
Buy 1000 @ 0.6
Price went down, cut at 0.57. Loss 30

Go in again 2000 @ 0.53
Price went down, cut at 0.5. Loss 60

Go in again 4000 @ 0.42
Price rebounded , took profit at 0.45. profit 120

Net profit 30 ( 120-60-30)

After that he went to temple ( outside since mco) to give thanks, and pledged to donate 100% of the profit once temple opened.

Well Telurgoreng maybe right that KPMG reported to SC on purpose after they have insider Information on conspiracy to fraud and CBT. So audit issues are side issues and KPMG delay are deliberate.

"There is of course a duty for auditors to report any irregularities to the SC, but the act specifically requires professional judgement to be taken beforehand. This is because a report or the SC investigation on its own has the potential to cause adverse speculation in the market that has irreparable consequences."

Serba Dinamik vs KPMG, a "shop lot auditor" case?

https://www.nst.com.my/business/2021/06/702410/serba-dinamik-vs-kpmg-shop-lot-auditor-case

Yeah, no need to know unless you want to be the white knight to take over Serbak after all the damage Karim and gang have done. Credibility down the hill with bankers, funds, authorities etc......

posted by i3lurker > Jun 26, 2021 11:47 AM | Report Abuse

You are still wondering ........

Consultant, the question should not be the price, it should be when to buy?

What is the correct price? 5 sen, 10 sen, 15 sen, 20 sen..........

Posted by trum > Jun 26, 2021 11:26 AM | Report Abuse

Brother this stock can make money if you buy it at the correct price.

For those who thought that AA is going to recover super fast once covid19 is over, think again. AA will be bleeding at least for the next 3 to 5 years after covid19 is over. It just that people had faith in TFenandez and 90% did not demand for credit refund.

That's right, from events surrounding Serbak for last few weeks. The lies and action by management and refusal to meet substantial shareholders, this company is on the exit mode from KLSE.

Based on what telurgoreng commented is true, could be the reason for Masleena withdrawal from Serbak. So Karim and co will be in a lot of trouble, even criminal charges if this is true.

telurgoreng Ok, u guys until now cannot figure out. Let me share secret to you on the audited query.

The actual real reason for KPMG not signing the report is most likely due to whistleblower informing them or they accidently stumbled on some information that they were not suppose to know.

The audit query alone is too weak to cause the whole audited report to be suspended. Small things like LLC and L.L.C or unit number missing or rubber stamp not nice... these are very minor problem. The real problem is actually not revealed because if Serba finds out how KPMG discovered the problem, they will destroy the evidence and change the story.

Hence, KPMG is just giving excuse and buying time while waiting time to run out on providing the audited report so that authorities like SC and Bursa will step in to compel them to reveal the info directly to the SC/Bursa investigation team. KPMG had no intention to sign the report the moment they discover the seriousness of the information from the beginning.

The audit queries are just red herring... I have seen 1 such case before back in my fresh graduate days with one of the audit firms. S

Bermillion The five who resigned are — Rozilawati Basir, Sharifah Irina Syed Ahmad Radzi, Tengku Datuk Seri Hasmuddin Tengku Othman, Hasman Yusri Yusoff and Masleena Zaid, according to several Serba Dinamik bourse filings today.

Only Masleena, who was recently appointed to the board by the oil and gas services firm, cited "personal commitment" as the reason for her resignation

Masleena is a lawyer and hve a lawyer firn. She was ex SC legal staff 2001-09 if not mistaken.. so Ex SC Legal lawyer quit....Head of Sections , Prosecuting officer at SC..means something . ..hahaa
26/06/2021 6:48 AM
26/06/2021 8:57 AM

Got link BNM in the picture?

Posted by PSAi3alert > Jun 26, 2021 12:03 AM | Report Abuse

telurgoreng, Exactly! And with BNM in the picture, things are getting serious.

Bro confirmed reliable? If yes advisable all punters here please dun touch because it is definitely going bust soon.

telurgoreng Ok, u guys until now cannot figure out. Let me share secret to you on the audited query.

The actual real reason for KPMG not signing the report is most likely due to whistleblower informing them or they accidently stumbled on some information that they were not suppose to know.

The audit query alone is too weak to cause the whole audited report to be suspended. Small things like LLC and L.L.C or unit number missing or rubber stamp not nice... these are very minor problem. The real problem is actually not revealed because if Serba finds out how KPMG discovered the problem, they will destroy the evidence and change the story.

Hence, KPMG is just giving excuse and buying time while waiting time to run out on providing the audited report so that authorities like SC and Bursa will step in to compel them to reveal the info directly to the SC/Bursa investigation team. KPMG had no intention to sign the report the moment they discover the seriousness of the information from the beginning.

The audit queries are just red herring... I have seen 1 such case before back in my fresh graduate days with one of the audit firms. S

Yeah, true for company with problems you should not average down unless it is at the very bottom as impact of loss is reduced. If you are bad at stock investment go for unit trusts that can give you lower but more stable returns.

Posted by michaelwong > Jun 25, 2021 11:13 PM | Report Abuse

Averaging down a stock with on going financials turbulence is unwise bro ! U may end up losing more and more ! Preserve ur hard earned money for still many growth stocks companies more advisable ! The reasons if it involves legal proceedings,it may take years to settle and thurs,ur resources is at stake and with more risks.

hah, the far reaching casualty of Karim and gang act of war with auditors.


Posted by michaelwong > Jun 25, 2021 10:58 PM | Report Abuse

To be frank so far, l never touched this SD counter stock despite with strong IB recommendations in the past . Why ? The simple fundermentals logic reasons is that since l never really took the troubles going into details of the company financials aspect , buy one thing remind me this company filled with incoming multiple projects and projects involving huge sums but one thing my logic reasoning is despite with such on going projects at hand , the company are facing shortage of funds badly times over and over again that reminds me this company outside look strong but inside something must be financially unpredictable .

I lost a very huge amount not SD but Kpower was not spared either since the company has stated their stand that they are not involved but Karim was part of the shareholder of Kpower with 30 over percent.

I was quite unlucky thinking with the clarification by kpower management that has nothing to do with SD but the continued to drop as per accordingly to the drop in SD shares price . That was how l lost big hesitating to cutlost at the very beginning when bad news hit SD.

Probably in my lifetime , perhaps this is quite a big blow so unexpectedly and may not be able to recover the losses in yrs ahead to come . A lesson to learn and is never too late , cutlost should apply from the very beginning to preserve capital resources rather than delay keeping a fat chicken turning into a skinny tiny bird with a short time frame.

In a way it is true, that is why independent directors must show their independence stance and can't simply sign or agree with what ever are requested by the CEO and his gang. But in the case of the newly appointed Indie directors and chairman of Serbak, acting in contrary to their responsibility and purpose of their positions.


telurgoreng @leno, you are wrong. Don't talk rubbish. Whether they resign or not. SC and Bursa can take action even after they leave if they did anything wrong during their tenure. In fact, Section 17A of the MACC act also allows MACC to take action against the directors AFTER they have left the company. Go read and google up Section 17A MACC act. Just because resign doesnt mean you wash your hand.

For now, the independent directors resign cause they disagree to sue KPMG. But the executive board wants to sue KPMG, causing a conflict between independent and non-independent directors. Hence their resignation. Dont simply mix here and there.

As for me, I only know I will sleep soundly this weekend and watch netflix. Good luck those still holding Serba over the weekend. Next week might end up 30 cents and suspend counter.
25/06/2021 10:35 PM

No worries, you make some you loss some. Serbak episode is unusual as it is beyond the norm, for CEO to challenge the auditors. Normally, the CEO would normally heed the advice of the external auditors to resolve the problem that arose via Independent reviewers etc.

Posted by siaokar > Jun 25, 2021 10:32 PM | Report Abuse

I am one of those who avg down but eventually cut loss.
The reason i am still here is to keep myself update with the latest devt. and making sure if i've made the right decision. haha

Posted by alenac > Jun 25, 2021 10:26 PM | Report Abuse

Most of them are caught with the shares at high price. Some try to average down. Possible many have no more funds. Investment in stocks are risky if you are not careful. Costly price to pay from mistakes.

Remuneration a pittance and the risk so great. Hahahahahah.........

Posted by leno > Jun 25, 2021 10:24 PM | Report Abuse

Go check all the history of FRAUD counter
Transmile, welli multi, CSL, Msport, etc.
All independent will resign before Bursa and SC take action.

Any independent that is still on board when bursa and SC take action will be in BIG trouble.
They will Fined and Charged in court for abetting the FRAUD directors.
They will be Black listed and Bar from holding any directorship in other company.

Sekian.

Most of them are caught with the shares at high price. Some try to average down. Possible many have no more funds. Investment in stocks are risky if you are not careful. Costly price to pay from mistakes.

t_nike2002 Some people still blinded by the figures in report which has integrity issue….
25/06/2021 10:18 PM

Once they resigned as directors, auto resigned from all commitees.

Roy 8 Why 3 members of the company's audit committee resign today? Are they forced to resign or resign on their own accord. Anyone can shed some light on this.
25/06/2021 10:17 PM

I think they got problems with both the appointment of external auditors as well as independent reviewers(IR). Suppose to announce IR today. No news.

Posted by colin888 > Jun 25, 2021 10:09 PM | Report Abuse

My POV, the longer they delay the appointment of a reputable Auditor not the Shoplot type , the share price is going downhill. Too much damage is done to the reputation. Margin call will also set in next week

China Stationery Ltd also got a lot of cash in their bank account. But it suddenly disappeared.

Posted by AlsvinChangan > Jun 25, 2021 10:06 PM | Report Abuse

SD have over 1 billions CASH in bank accounts

SD is STRONG

If my estimation is correct, EPF still have just a little bit below 200 million shares to dispose next week and plus Awang and other directors margin call and bankers forced disposal, mostly all the way down next week.

Even a newly appointed director also resigned. Karim said it is a restructure.