Huangbk72
So another management pack of lies that it is able to settle 100% of liabilities or it is a formality that they have to say so to avoid liquidation in court. In whichever direction Serbak is doomed.
@alenac
By virtue of winding up petition by banks.. it is 100% confirmed fact that SD debts is more than its real assets.

12 minutes ago

Are any of you guys free to spend time going through Serbak bonds and lending documents to see what assets are secure and how much each creditor will get and how much is left after the distribution? The fact will disclose the actual valuation of the company and whether it is still a going concern?
superrr
Huge defaulted bonds payment, and so much fake news. What else to expect ?

15 minutes ago

Good morning, salvo after salvo of bad news for Serbak, default after default. But there are still bravely hearted looking for windows of opportunity. There are thousands of counters in KLSE where opportunities are even ready to reap without the corresponding risk as in Serbak. Goodluck.

Some of them kena fried until SD (Sudah Dungu).
Posted by superrr > 29 minutes ago | Report Abuse
Mabel has became a SD egg garam indeed.....hahaha might as well fry with your backside...

Wait for the big boss to Goreng, then this counter will move.

From Day 1, the huge salary of the CEO does not justify ever defending any rescue of the company in the name of assisting bumiputra employees hanging to their jobs. The company is not a welfare organization nor a charitable one. This was missed out in the debate between Anwar and the head of Klepto. The reason why most Malaysian government GLCs failed in their profit-making objective and in reality should not operate like welfare or charity organizations.
Compare all O & G GLCs with independent companies like Yinson, Armada etc. These companies will be able to weather any economic turbulence much better than GLCs because all resources are efficiently utilize in these organizations, no burden of carrying unproductive passengers.

Yes, I am not a shareholder. So it's up to people here to group or even better if can combine with funds that lost money in Serbak. Ideally those who bought at RM2 and lost all the way down or disposed since May 2021 and incurred losses.
alenac,
You can only do that
"IF YOU ARE THE SHAREHOLDERS"

I do not think you understand. Take civil action to get compensation from management personally for defrauding shareholders.
Posted by Michael R. > 2 minutes ago | Report Abuse
waste of time.. end up just being fine and they could even pay it.. then what is next? The real problems are lying in our weak market.. most of the time are in red...

Good morning, fight drama still on? Better you guys discuss how to take up shareholders' civil action to sue Serbak top management for defrauding & misleading investors. Isn't this a preferred way and maybe perhaps obtained some satisfaction instead of being keyboard warriors.

Continuation of the pact of lies, vertical collapse of Serbak
Cash_Is_King
https://www.youtube.com/watch?v=71Jy2STERdQ

4 hours ago

Latest Chef shares of 13,450,000 disposed and more disclosure to come? Going to fly? Check whether your fly is zipped.

Yeah, but for a while, after that maybe a big price collapse because there is nothing left, the wolf has emptied the chicken barn.
cheahgood
Yes the only way to gain investors and bankers confident is to kick out the culprit (karim) and his con-man gang out of Serba. This is management issue. I believe if those culprit out from serba, definately the share will up.

Many day traders punting around 300 + buyers hoping to make a few RM. If the market turns .05 sen they will sell.
neohts

Everyday got a lot of buyer and seller.
Who is actually slowly accumulating with such a big volume ?

4 minutes ago

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