Supermax, Harta and TG all going green today.

They were always fly dan fall together. Haha

Can Serba fare better than the Titanic after hitting the iceberg?
By Cheah Chor Sooi
7 hours ago
in Business, Top

“THE skipper goes down with the ship” is a maritime tradition which hints that captain of the vessel shoulders the ultimate responsibility for both their ship and everyone on board the ship (sailors and passengers alike).

This age old adage comes to mind following Fitch Ratings latest key assumptions after having further downgraded Serba Dinamik Holdings Bhd’s long-term issuer default rating to “RD” (restricted default) from “C”.

According to the rating agency, its recovery analysis assumes that global integrated oil & gas (O&G) service provider would be reorganised as a going-concern in bankruptcy rather than liquidated.

“We have assumed a 10% administrative claim,” Fitch Ratings pointed out in rating action commentary.

On its rating downgrade, the rating agency said its action follows the expiry of the 30-day grace period after the non-payment of the coupon on the group’s US$222 mil senior unsecured sukuk (Islamic bond) due in 2022.

For the record, Serba Dinamik did not pay its semi-annual coupon payment due on Nov 9 for its US dollar sukuk maturing in May 2022 during the 30-day grace period.

“Potential cross-acceleration clauses in its other debt may be triggered by the non-payment of the 2022 notes,” opined the rating agency. “The ‘RD’ rating indicates an issuer that in Fitch’s opinion has experienced an uncured payment default but has not entered into bankruptcy filings and has not ceased operating.”

At the same time, Fitch Rating has affirmed the ratings on the May 2022 sukuk issued by SD International Sukuk Ltd and the sukuk due March 2025 issued by SD International Sukuk II Ltd at “C” with the recovery rating remaining at “RR4”.

The above adage is by no means insinuating that “all is lost” for Serba Dinamik but rather a challenge for its founder, group managing director and CEO Datuk Dr Mohd Abdul Karim Abdullah to secure a “life boat” soonest to keep all “the crew (employees) and passengers (investors)” afloat.

Obviously, securing the much needed “life boat” can be a mountain to climb for Serba Dinamik at this juncture given the slim likelihood of banks or financial institutions who are willing to lend a helping hand is “very slim” to say the least.

Already mired in trading suspension and a series of legal actions involving its former external auditor KPMG PLT, its special independent reviewer Ernst & Young Consulting Sdn Bhd and market regulator Bursa Malaysia Securities Bhd, Serba Dinamik’s woes climaxed with a net loss of RM42.11 mil for its 1Q FY6/2022 ended Sept 30, 2021 – the company’s first quarterly loss since its listing in early 2018.

In an unrelated development, it is worthwhile noting that Abdul Karim has resignation has vacated his position as the non-independent non-executive chairman of KPower Bhd with effect from Monday (Dec 13).

Having transformed KPower from a loss-making manufacturing business into a renowned and indomitable player in the renewable energy industry, it is hoped that Abdul Karim can now focus on restoring the financial health of Serba Dinamik which he co-founded in 1993.

Serba Dinamik was last transacted at 35 sen at the close of the mid-day trading on Oct 22 prior to the trading suspension of its shares/warrants, hence giving the company a market capitalisation of RM1.

Petronas auditting SD?

Rumors?

Posted by cheahgood > Dec 14, 2021 8:06 PM | Report Abuse

SD is gone.. even si karim resign..the situation in SD is different from kpower...there could be fraudulent cases in SD's accounting which detected by KMPG and EY...and i also heard Petronas is also auditting SD... for sure SD is in deep problem even karim resign can't solve the issue...

Who want to buy Berahim?
Better not

Posted by Good123 > Dec 14, 2021 9:05 AM | Report Abuse

Brahim’s dah pn 17, saudee boleh beli aset brahim’s sebelum brahim’s dibubarkan

9474 BRAHIMS BRAHIMS HOLDINGS BERHAD
PRACTICE NOTE 17 / GUIDANCE NOTE 3
PRACTICE NOTE 17 / GUIDANCE NOTE 3
BRAHIM'S HOLDINGS BERHAD ("BHB" OR THE COMPANY")MONTHLY ANNOUNCEMENT PURSUANT
TO PRACTICE NOTE 17 OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA
SECURITIES BERHAD
You are advised to read the entire contents of the announcement or attachment.
To read the entire contents of the announcement or attachment, please access
the Bursa website at http://www.bursamalaysia.com

01/12/2021 07:00 AM

Harta with 0.00 movement
Supermax with 0.01 down

Slow day for both of them

Don't worry.

Just let them think how to settle this

Posted by josephn > Dec 14, 2021 1:11 PM | Report Abuse

Don't worry, SD still have abundance money to develop Satellite, SUKUK remain unpaid nevermind

Mabel seems very active and positive in SD.

Posted by Mabel > Dec 13, 2021 8:26 AM | Report Abuse

Hahaha keep cheering..

You guys and gals are doing a great job..

Despite suspension, Serba is consistently up on the podium

Let Karim and his boys, Bursa and SC do their job. They are working for us..

Based on Snow White updates there's lots of things happening in the background.. So just be patient and be prepared with the two scenarios..

Have a great week!

Meow

So, should buy more again?

Posted by Good123 > Dec 13, 2021 4:12 PM | Report Abuse

Berbaloi 6sen, right issue price 15sen. Pp takers sapu lagi untuk menguasai saudee pada harga lantai kini

In here, you buy low, u sell lower.

Posted by monetary > Dec 13, 2021 3:30 PM | Report Abuse

aiya. they always say too low to sell. 5 4 3 2 1.7 very strong 1.6 1.5 very strong. now 1.3 haha

Just get other money. This counter will only settle later.

Posted by hoot9e996 > Dec 13, 2021 5:24 PM | Report Abuse

when remove suspension? i want to cash out already!!!!!!!!! money stuck so long

Just avoid this

Posted by stockraider > Dec 10, 2021 2:38 PM | Report Abuse

Raider tell the truth n not spamming mah!

Fintec group of companies are konning your money loh!

Pls avoid loh!

Warning: Beware of 2511 the kon secret agent of Fintec loh!

He already enjoy with the flop. Hihi

Posted by gemfinder > Dec 10, 2021 7:29 PM | Report Abuse

Where is bangla english wil75? Kakakaakaka

Need to take a break from a hectic year.

Deserve my rest. Yeay

Gonna enjoy my holiday in Penang. Yeay


hijau belalang
684 posts
Posted by hijau belalang > Dec 10, 2021 5:08 PM | Report Abuse

rest
continue next week
must do better

They just barks, they yet to bite.

Hahaha

Posted by armadatuah2017 > Dec 9, 2021 5:30 PM | Report Abuse

no news updated except so many dogs barking around. pathetic

Hahaha.

Better go enjoy at Phuket

Posted by Lucifer999 > Dec 9, 2021 11:20 AM | Report Abuse

sawadee kuppp hahaha

All gloves are retreating now

Posted by Start_0f_the_bull > Dec 9, 2021 11:40 AM | Report Abuse

TG price is retreating, not a very good sign for other glove counters including SM.
Check out any surprise from TG QR tomorrow.

Are you talking about Najib?

Lol

Posted by zoizai > Dec 9, 2021 5:30 PM | Report Abuse

Memalukan

As we can see here in this also got many unconfirm news has been spread all over.

It might trigger some negative vibes also.

I think Bursa really can anticipate this.

That is why suspension somehow is also a good news for certain people

Posted by stockraider > Dec 8, 2021 6:22 PM | Report Abuse

It is very Good decision that Bursa still suspend serba listing...until all the doubts are cleared in order to prevent innocent ikan bilis from being kon mah!

Earn money in gloves?

Good luck

Posted by BursaBearAlways > Dec 8, 2021 6:23 PM | Report Abuse

Gott special cababilities to earn money?
Without rss u are fired

Then, better focus on this small mid cap segment then.

Posted by Good123 > Dec 8, 2021 2:54 PM | Report Abuse

small cap boom anytime..

We believe accommodative fiscal policies will continue to benefit the small mid cap segment. Higher vaccination rate and further breakthrough in the vaccination technology should accelerate the economic recovery.

SPEAKER
John Cheong, Head of Research (UOB Kay Hian Singapore)
Ivan Ip, Head of Research (UOB Kay Hian Hong Kong)

Saudee off day?

No bull or bear attack?

36 million trades and the movement breakeven.

Nothing interesting

What we can do now,just stay calm and wait

Stale counter for now.

No movement

Posted by amet2017 > Dec 7, 2021 9:49 AM | Report Abuse

Not really affecting the counter, since it is suspended. Next step as per the announcement will the delisting process

Dropppp superrrr

Red day

Must beware. Wink

Posted by oskchoon > Dec 6, 2021 6:37 PM | Report Abuse

Supermax is next target of Andy Hall.. Beware..

I thought the TT should be to SD.

The money should come in

SD TT to Singapore?

What is that transaction for?

Posted by ǷearlꙌhite > Dec 6, 2021 9:52 AM | Report Abuse

.
Contrary to popular hysteria and mania, which is why never be emotional and be aware of the facts although I did play along.

Today is a very important day for SD. Depending on the terms of actual payment to bondholders, today is the second last day to remit funds for the coupon payment.

By 11 am, SD would have gotten the spot quotes for Telegraphic Transfer to Singapore and it has to be executed by 3/4pm, otherwise it would not appear in the accounts on December 7th.

Take note.

If SD can settle AR and SIR, surely will up again fast.

Fly to the sky

Posted by neohts > Dec 3, 2021 11:06 AM | Report Abuse

Hi Pearl White, SS lee and Mabel,
What do you think the opening price for Serba Dinamik ? above 25 cents, lower or higher ?
Please advise.

Open actually

Even all banks open today

Posted by ZackKiddo > Dec 2, 2021 11:40 PM | Report Abuse

Esok bursa tutup guys.

TG is going up.
But super is going down.

After announce their dividend, Super still facing downfall

Award is still award. Maybe they really deserve it

Posted by alenac > Dec 3, 2021 9:02 AM | Report Abuse

More of top award to Serbak for lacking transparency.

Posted by superrr > Dec 3, 2021 8:56 AM | Report Abuse

What will be the award ? ikan bilis have been awarding huge ton of $ to sd...

Back yo square

Posted by StockAz > Dec 1, 2021 11:15 PM | Report Abuse

What happen to the counter?

But today it's going down.

Posted by Sansing > Dec 2, 2021 3:21 PM | Report Abuse

Meaning going up n up n up

Sometimes it is really interesting to see what will Karim and SD do to overcome this issue.

Their action will be so surprise

Does he has some magic again?

Posted by BobAxelrod > Dec 2, 2021 4:34 PM | Report Abuse

Guess this means, turning 360 degrees, and back to same spot???


Posted by josephn > Dec 2, 2021 4:08 PM | Report Abuse

Karim said 360 degree turnaround is guaranteed

After few good days for gloves, today it turn to red

Let see tomorrow if got any statements by SD or either Bursa on this matter

Just wait the outcomes later

Posted by Stockisnotfun > Nov 30, 2021 12:15 PM | Report Abuse

Will be in cold storage already. Doesn't matter they can meet the whatever upcoming deadline already for the report.

Good green day for Saudee today.

AR also released

Stagnant as always

Posted by JoyReyzal > Nov 28, 2021 1:07 AM | Report Abuse

bila la nak up strike nie

Nice bullish today

Yeah!

Tomorrow already month end.

SD need to make a move now

Everything depends on the SD now

Posted by amirf1221 > Nov 29, 2021 9:36 AM | Report Abuse

How about now?
Any support?

Serba Dinamik: Chairman, director quit in protest against Bursa demands. More board members have resigned from Serba Dinamik. The company has announced the resignations of its chairman Datuk Mohamed Ilyas Pakeer Mohamed and independent director Johan Mohamed Ishak, less than six months after the duo joined the board in mid-June. Both cited the same reason for their departure, which is that Bursa Malaysia's stipulations had stopped them from fairly discharging their duties. (The Edge)

Never good in here.

I really don't understand why it is still in KLSE


KulaanNiring
232 posts
Posted by KulaanNiring > Nov 26, 2021 8:06 PM | Report Abuse

no good for trade

Really boom up now

Posted by Knm_bottomed > Nov 26, 2021 4:35 PM | Report Abuse

Covid-21 is apocalyptic

Like you said.

Karim know better

Posted by Huangbk72 > Nov 26, 2021 11:11 AM | Report Abuse

@ psai3alert

Chef Karim has all the numbers..

He knows and we know.. only the dummies don’t

Delisting is the way to go.

Best option for him