.
A Statement of Action from the Supporters of CEO Karim and Serba Dinamik Berhad.

We have been aware and would officially state that we will deny and prevent the hostile takeover of Serba Dinamik Berhad through guerilla tactics.

We the mutual and institutional funds and retail investors in support of CEO Karim and Serba Dinamik Berhad would ensure that the current Board and Management and great team at Serba Dinamik Berhad would continue in the foreseeable future.

We will maintain more than 2/3 of overall share support for CEO Karim and Serba Dinamik Berhad.

Thank you.

PS : Using the regulatory bodies to force Serba Dinamik Berhad into a checkmate position for takeover will also be denied by us.
.

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What you do not realise is that that has been done a long time ago for investors. In time, you will find out.

superrr Now nobody want to know what truth or lies or good or evil, or took pic with sultan , with TRump, with biden, with god.....they just want to get back their $$$$
26/11/2021 9:56 AM
.

.
If you can get a video of this, would be great. I can use it to determine truth and lies. If there is no sound, its ok.

From all the other videos that I have seen from CEO Karim, he was telling the truth about the audit issues and BAU. The only exception was that he told the media that SD had to sue KPMG, which I read from his facial expression, as not the truth.

InterFund® Can tell they are in big trouble from Karim and Kadier face from the online 25/11/2021 board meeting with Azri............................................ https://i.imgur.com/TzOzq1h.jpg ..........................................
26/11/2021 9:41 AM

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For those who want to know what truth or lies or good or evil that is posted here, please have a watch of this video on feminism.

I know that it has nothing to do with the topics covered in klsei3, and is not a kinesics video but a video to tell us the dynamics in any cause, forum or discussion.

I hope that it would benefit you in your investment decisions (in good or bad situations) arising from any forums.

Please watch till end and ponder thereafter.

https://www.youtube.com/watch?v=LK3VuOqKkYs
.

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How many of you here did see the appointment of Noor Azri Bin Dato' Sri Noor Azerai coming? Was this planned a long time ago?

Now, who here disclosed the information in klsei3 about CEO Karim having a get together with Azerai one Sunday couple of months ago? And it was on his insta.

Will we see similar actions arising from this too and in what way?

https://www.e-serbadk.com/dymm-sultan-ibrahim-ibni-almarhum-sultan-iskandar-berkenan-menerima-menghadap-dato-dr-ir-ts-mohd-abdul-karim-di-kuala-lumpur/
.

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My colleague and friend, VU Kumar, INED for Bumi Armada, finds this whole episode perplexing for a very simple matter.

https://focusmalaysia.my/serba-theres-no-cover-up-were-only-acting-in-our-stakeholders-best-interest/

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Due to the resignation of 2 INEDs in protest to Bursa's attempt to subvert the completion of the Special Independent Review, there is a change in the Key Actions Plans of Serba Dinamik disclosure date. All others remain the same.

Note : Status the same @1st November 2021. Key focus is to disclose items before 31st December 2021 (previously 30th November 2021).

@25th November 2021
Details of Key Action Indicators. Lets run the show for the better of SD.

COMPLETED ACTIONS FROM DETAILS BELOW
- Restructure company to greater heights - more contracts/projects, focus on customer.
- Founder's legacy 1 - removed margin call risks till 10 sen and before completion of SIR.
- Manage cash flow and forecasts.
- New financing initiatives will not involve Private Placement. and Rights Issue.
- EY will provide finalised SIR to Bursa.
- Bursa to request SD to announce SIR findings.
- Complete 2020 audit and annual report as planned.
- Complete 30/9/2020 QR within time frame or earlier (1st draft out by 21/10/2021).
- Group meetings with asset / fund managers together with re-rating agencies. Initiate re-rating process..
- Meeting with current financiers. Initiate re-rating process.

=====================================================================
OUTSTANDING / ON-GOING

Shareholders' Mandate
- Founder's legacy 2 - restructure founder shareholdings to focus on future strategy, finance, legal - in progress

Business Development
- Re-engage lost and new customers and continue to win more contract/projects - in progress
- Provide more innovative and new products and services to customers world wide. - In progress

Operations / Project Management / Procurement
- Continue focus on delivering continue safety, operational efficiency and cost effectiveness - in progress
- Continue to delivery on projects within customers expectations and satisfaction on time.

Finance
- Manage collections and expenditures - In progress

Governance
- Issues highlighted in forum will be dealt by SC/Bursa directly with forummers. SD will have no part in time wasting activities. - In progress.
- To deliberate offer by KPMG to resolve legal issue. - In progress.
.

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It is great to see that TheEdge coverage of Serba Dinamik since this week has more meat to the bone compared to previous months.

This is after a word of advise from their "sifu".

However, it is not enough to present a one sided response, when there is none from Serba Dinamik. Obviously, Serba Dinamik would not entertain TheEdge anymore, unless to get the facts straight on errors made by TheEdge.

It would be good to have legal "expert opinions" as to what is next, since there are summonses from both sides and what to expect if certain senarios are played out.

That would be good journalism and pissing straight at your subject matters.
.

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Do you want to know what was replied to Bursa/EY's affidavits last week? Nov 18th?

“I will allow the plaintiff (Serba Dinamik) to respond to the affidavits following their request within one week of today (Nov 11). As to their request for an ad interim [injunction] and balancing in the interests of justice, this court orders that no ad interim order be granted," ruled Justice Datuk Ahmad Fairuz Zainol Abidin.

https://www.theedgemarkets.com/article/court-dismisses-serba-dinamiks-application-ad-interim-injunction-against-bursa-and-ey

The answer is here,

https://focusmalaysia.my/too-premature-to-release-serbas-still-work-in-progress-sir/


The key takeaway is of course, with latest OS from Bursa, I am very sure new presentations and findings documents will surface with correct terminologies, disclaimers and authors.
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Anyhow, Bursa is doing their job.
.

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Are my posts a pre-cursor of what is to come?

InvestorKING Pearl white today so aggressive, something Big must be happening
22/11/2021 12:41 PM


Remember, attention details.

1) TheEdge/Bursa doesn't use the words Factual Findings Update (FFU), now its Special Independent Review (SIR). Why not FFU?

"... four scope of its Special Independent Review (SIR) of the company."


2) The word "initial" - meaning work in progress? Will the initial findings change when completed?

“material information” from E&Y initial report which must be disclosed to the public.


3) The word "findings" - meaning completed in Bursa's interpretation? What is going on with the terms initial and findings?

"to seek a court order to compel Serba Dinamik to make a public announcement of the SIR findings."


4) Does Bursa accept this? Work to be done all over again? Oh dear! Can't Bursa direct to continue with EY Consulting?

"It also sought a court order directing Serba Dinamik to complete the SIR with E&Y or in the event of EY's premature resignation or its termination, the court orders the company to appoint an independent reviewer with international affiliation within 14 markets days for the SIR to be completed."


5) In the event of disclosure of unqualified AR2020/21 and QR 9/21, suspension will still be in effect.

“Its continuing refusal and/or failure to comply with the directive (by Bursa) warrants Bursa to do all acts necessary to enforce and give effect to the directive."

https://www.theedgemarkets.com/article/why-bursa-sought-serba-dinamik-be-compelled-make-public-announcement-independent-review
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Dejavu. Just like Neo seeing the black cat twice.

Serba Dinamik's future is written like the Najib and Trump saga. Both had the excellent track records and achievements made for their own countries to be detoured by the saviours with incomplete and mis-informed information that was debunked easily (due to their lack technical prowness and legwork).

All sounded intuitive and illogical. And there was the support of the herd.

But the saviours failed to perform and deliver in just a few moments.

The backlash, as always, is the herd turning against them (which they did).

Never do they learn not to use the same trick twice, but harp on it again and again.

We know what they got instead. We now know Najib and Trump will be back to the seat soon.
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The race is on. Will the AR2020/21 be disclosed 1st or the Factual Findings Update (FFU)?

AR2020/21 will nullify the FFU.

Desperate times it is from Bursa.
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Now Jose Barrock gets his hand dirty to re-iterate the issues and shed light on the forfeiture of deposit earlier.

Why? Because his "sifu' nuclearmanbursa advised him to to so, after so many low quality journalism for the past few months from TheEdge.

Seems like the investment community doesn't place much reliance on TheEdge anymore.

You see, TheEdge hasn't been entirely honest all this while, while omitting a lot of crucial information.

I wonder what else have been omitted.

https://www.theedgemarkets.com/article/serba-dinamik-faceoff-regulators
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With the impending court cases and upcoming decision of SC, it is a foregone conclusion that there is a stop-work on the now defunct SIR.
.

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A Statement of Action from the Supporters of CEO Karim and Serba Dinamik Berhad.

We have been aware and would officially state that we will deny and prevent the hostile takeover of Serba Dinamik Berhad through guerilla tactics.

We the mutual and institutional funds and retail investors in support of CEO Karim and Serba Dinamik Berhad would ensure that the current Board and Management and great team at Serba Dinamik Berhad would continue in the foreseeable future.

We will maintain more than 2/3 of overall share support for CEO Karim and Serba Dinamik Berhad.

Thank you.

PS : Using the regulatory bodies to force Serba Dinamik Berhad into a checkmate position for takeover will also be denied by us.

.
The 14th day of 9th November 2021 is tomorrow. TheEdge should be standing by to crack a piece at lighting speed if Serba Dinamik does not make the USD7.0million coupon payment.

Or maybe it won't, if Serba Dinamik pays.

After all, they did say within two weeks.
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Now lets have a revelation of some short for the coming end of November 2021. Some may have figured it out, but many haven't at this point of time.

Some of you may have realised by now, if it is not clear to you (attention to details is important to press releases or media articles), that even with the disclosure of an unqualified AR 2020/21, Serba Dinamik will still be suspended from trading.

Yes, Serba Dinamik will still be suspended from trading. Even if QR 9/2021 is disclosed, it will still be suspended.

You have to wait for the court case and you will have to wait for SC's decision on the matter.
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To be honest, the SIR doesn't really matter anymore. Because, SD can release the Annual Report 2020 now if they want.

What this means is that Nexia has given their opinion on the FS for 2020.

The only saving grace for Bursa/EY, is for them to make sure that all their findings are correct and is consistent with the Nexia's opinion.

The so-called updated on 30th September 2021 strongly suggests that the conclusions are consistent with Nexia's opinion.

However, asking more clarifications from SD is very prudent of them, just in case if anyone questions and does not accept the conclusions of the SIR in future (which I am sure will be many and represents 80% of the participants here) and decides to make complaints to the authorities and/or take legal action.


Markable Yes, EY also mentioned there is few more "issue" need further clarify and surely it need more time, and SD boss wanted to uplift the suspension asap to avoid further "market untrust" of SD share.

Personally thinking, releasing SIR much much more important and gain back the trust from market. I no want everyday guessing this and that, tired.
.

.Part 2

2) The level of transgressions that such documents can lead to, if any;

Based on SC’s statement in TheEgde, it can be reasonably assumed that “working documents” were seized. Such documents typically would contain various type of documents that are bundled to a specific project or operation work. In such documents, we would be able to verify the approving persons and how it is eventually recorded in the Financial Statements.

Such working documents would involve low to mid-level employees of SD with occasional approval from senior management based on the Limits of Authority (LOA).

What isn’t clear from SC’s statement in TheEdge, is whether seizure was made at the registered address. If we reasonably assume that there was no seizure of such documents, it would be difficult to identify transgressions committed by Senior Management and the BOD.

Documents that are not re-producible can lead to inability to verify the correctness and authenticity of the transactions. To obtain such documents from the 3rd parties, may prove difficult especially when it involves banks and government bodies. Obtaining a CTC may be difficult but doable.

Question is, do you have the time to wait for their response?

3) Ramifications of such seizure of documents on SD in fulfilling any statutory obligations.

In a worst-case scenario where SC seized all documents in all areas, it will definitely impact SD to continue to fulfil its statutory obligations, financial obligations, project and operational obligations. In short, SD’s ability to continue as a going concern is questionable.

However, since SD was able to disclose QR 30/6/2021, we can reasonably assume that it seems that the seizure of documents was related to QR31/3/2021 and KPMG’s assertions. It is most likely client/vendor and time specific.

Would it hamper Nexia’s ability to conduct its audit? Yes, unless like EY, Nexia has made a request to verify such documents at SC’s premises.
.

. Part 1
https://www.theedgemarkets.com/article/sc-says-serba-dinamik-probe-ong...

What kind of documents have SC seized (and still not returned up to the time of this writing)? For that, we have to make some realistic assumptions to what SD has in place. Typically, an O&G outfit is very into ERP (Enterprise Resource Planning) systems and Document Management Systems (DMS). With that, we shall explore

1) What documents that SC have given EY access to that “SD couldn’t produce or withheld from EY”;
2) The level of transgressions that such documents can lead to, if any;
3) Ramifications of such seizure of documents on SD fulfilling all of it’s statutory obligations.

1) What documents that SC have given EY access to that “SD couldn’t produce or withheld”
We shall dissect the type of documents into the following general categories for ease of understanding, according to the activities within SD namely

a) Sales and Marketing (S&M)
Typically, most documents under (S&M) consist of Invoices, Service Orders (from clients), Bid documents (and quotations), Letter of Awards and Contracts. Invoices are the only document that can be reproduced by SD from the ERP. Other official versions of documents like Bid Documents, Letter of Awards and Contracts would also be copied into DMS and copied for statutory purposes (like CoSec). Service Orders (from clients) may be also DMS, but in my experience it may not be so (unless having a copy in the email correspondences with the client or a copy being held by Procurement to raise PO) and for ISO purposes.

Likelihood of SD not producing or being withheld from EY – Low.

b) Projects, Operations and Procurement (POP)
Here is where the main activities of SD towards it’s clients are carried out. These are termed working documents. In most cases, these documents are reproduceable by SD as these can be generated by SD from the ERP system. Documents like work/service requisitions (from Projects and Operations), Delivery/Receipt Orders, Purchase Requisitions (and Vendor Quotation) are available.

What is not readily reproduceable are the reports on Project and Operations statuses. Typically, these documents exists for the purposes of BOD use, Approving Committee use and/or Statutory use. They are usually in the PowerPoint and Excel formats. These reports contain signatures of the approving personnel.

Likelihood of SD not producing or being withheld from EY – Medium.

c) Financial and Legal
Under Financial and Legal, it would reproduceable by the ERP system and documents like Payment Vouchers (which would also contain in bundle the S&M and POP documents). What would be reproduceable would be just the payment vouchers but not the supporting bundles, unless time is taken to re-construct the bundle.

What is also most likely not-reproduceable are external party documents (since most ERP system don’t cater for it). Most crucial for receipts and payments from clients and vendors respectively are the Bank Negara Forms and Bank Related forms. Whilst in typical online banking transactions, like Maybank2u or RHB Reflex, can be seen, it is line-by-line transactions unless there are queries from these banks into the nature of the receipts and remittances to and from clients/vendors.
There are some other forms that unless capturd in the DMS for ISO purposes, the likes of customs declarations forms, taxation forms for example, it is most likely not reproduceable by SD.

Likelihood of SD not producing or being withheld from EY – Medium.

d) Registered Address / Statutory
The registered address (usually the Company Secretary’s Office) would contain all the documents pertaining to senior management and BOD in the form of the meeting registers which contain all the deliberations and approval of all contract awards (with legal entities, legal and financial arrangements and financial appraisals), projects (details of project statuses, issues) and Operations (details of operation statuses, issues). Such documents provide the strategic view of how information would be reflected in the Financial Statements.

Of all the documents highlighted above, documents held by the registered address / statutory are the most important ones all because it gives SD the legitimacy and credibility for all of it’s actions. These documents are what would support or act in contrary to KPMG’s assertations

Likelihood of SD not producing or being withheld from EY – Low.

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The press/media has been acting up lately. What is surprising is that with so much negativity and revelations to audit issues to missed coupon payments which are hot off the press in lighting speed for the last 5 months, something has changed since last week. Never before the tone of the media been like this for Serba Dinamik.

Just as an example, it beggars belief that TheEdge reports on 16th November 2021,

Serba Dinamik develops algorithm to identify Covid-19 through cough
https://www.theedgemarkets.com/article/serba-dinamik-develops-algorith...

While, this may be a positive news for Malaysia, why report this from a company that supposedly has governance and coupon payment issues? Begs to wonder. Even the investment community were quick to put this into the furnace as utter irrelevance to the issues at hand.

And what is more interesting is the TheEdge article on 13th November 2021,

More questions raised after Serba Dinamik's lawsuit against special independent reviewer EY
https://www.theedgemarkets.com/article/more-questions-raised-after-ser...

provided a balance view on the issues at hand. Never before have I read a single piece of news from TheEdge that considers various issues from different perspectives. Its usually a piece that puts Serba Dinamik in bad light. This article was indirectly implying that "we have to study the details from every angle and come to a reasonable and fair conclusion for all parties".

But the most crucial stunner of them all is this, MSWG's CEO decides to use FocusMalaysia to air his personal opinion on 13th November 2021.

The Serba Dinamik saga: When things come to a head
https://focusmalaysia.my/the-serba-dinamik-saga-when-things-come-to-a-...

What is striking about this is a complete lack of decisive opinion from the writer. This is very unusual, since all opinions from the writer historically has always been accompanied with some highlights of issue and actions to be taken to resolve them quickly.

"MSWG is not aware of the contents of the ‘Factual Finding Update’ and as such is unable to opine on the materiality of the findings."

Shouldn't MSWG be the one to issue a statement?

The change in media tone is apparent and there are some dead giveaways as to what is really happening behind the scenes. Writing styles do tell lies.

For one, while MSWG is not aware of the contents ‘Factual Finding Update’, that doesn't mean that MSWG's CEO isn't. His use of syntax strongly suggest that he has read and understood its contents.

For two, TheEdge's writer and/or their interviewed sources may have read and understood its contents as they questioned the legitimacy of the appointment rather than the ‘Factual Finding Update. If it was illegitimate, such findings are null and void and assumed in-complete in the end.

Key Take Away

What this means, outside the realms of the meeting, 3rd parties have read and understood the contents of the ‘Factual Finding Update'.

It also means that many of the media have been misinformed as to the actual severity of the issue and perpetuated falsehoods. Who can corroborate this?

“Directors, independent ED’s and the audit committee need to be dynamic in looking into this, as well as other aspects of the firm. The ongoing business of the company has more importance than the audit issues themselves,”.

Serba Dinamik presses on despite suspension of trading on Bursa Malaysia
https://www.freemalaysiatoday.com/category/highlight/2021/10/23/serba-...

The Independent Directors' of Serba Dinamik seem to think so.
.

Note : This is another falsehood being expunged. The ultimate regulator is Securities Commission Malaysia. They have the ultimate power and makes the final decision.

End the standoff: Serba Dinamik should make EY review public to prove it has nothing to hide
https://www.theedgemarkets.com/article/end-standoff-serba-dinamik-shou...

We say this to Serba Dinamik: If the information contained in the EY Consulting review is not “material”, meaning it is not significant, why don’t you just release them to prove that you are right and that KPMG, EY Consulting and Bursa are wrong? Wouldn’t it be very satisfying to show that you have nothing to hide?

To Bursa, we say this: If Serba Dinamik refuses to release the information, the exchange should lift the suspension in the trading of Serba Dinamik shares and warrants to let the market be the judge of what it thinks about this fiasco.

Don’t be held to ransom. You are the regulator.
.

.
Just as a reminder, as confirmed from research houses, the following hold the % in SD.

https://www.bursamarketplace.com/mkt/themarket/stock/SERB/ownership

PNB - 6.2%
EPF 5.0%

https://klse.i3investor.com/servlets/staticfile/438915.jsp - Kenanga Research
https://klse.i3investor.com/servlets/staticfile/438945.jsp - PB Invest

Accordingly, the shareholding persons/entities in SD updated @ COB 12/11/2021

Name % Shareholdings

Mohd Abdul Karim bin Abdullah 21.2
Abdul Kadier bin Sahib 16.25
Unknown Shareholder 1 * 8.80
Unknown Shareholder 2 * 4.62
Employees Provident Fund Board 4.97
Kumpulan Wang Persaraan (Diperbadankan) 4.53
Permodalan Nasional Berhad (PNB) 6.20
State Financial Secretary, Sarawak 3.38
SBB Dana Al-lhsan 1.45
Lembaga Tabung Haji 1.39
Other Institutional Funds (Minimum 2m shares) 3.50
Other Mutual Funds (More than 2m shares holdings) 7.92
Estimated Intitutional & Mutual Funds (Less than 2m shares holdings) 0.50
Retail Investors (Balance) 15.29
Total Shareholdings 100.00

* Suspected Person, Group, Provident Fund
Note : Retail Investors (Balance) holds about (‘billion) 0.5

Summary

Founder Shares - 37.45%
Government Related Funds - 32.5%
Institutional & Mutual Funds - 14.76%
Retail Investors (Balance) - 15.29%
.

.
Note : Status the same @1st November 2021. Key focus is to disclose items before 30th November 2021.

@22nd November 2021
Details of Key Action Indicators. Lets run the show for the better of SD.

COMPLETED ACTIONS FROM DETAILS BELOW
- Restructure company to greater heights - more contracts/projects, focus on customer.
- Founder's legacy 1 - removed margin call risks till 10 sen and before completion of SIR.
- Manage cash flow and forecasts.
- New financing initiatives will not involve Private Placement. and Rights Issue.
- EY will provide finalised SIR to Bursa.
- Bursa to request SD to announce SIR findings.
- Complete 2020 audit and annual report as planned.
- Complete 30/9/2020 QR within time frame or earlier (1st draft out by 21/10/2021).
- Group meetings with asset / fund managers together with re-rating agencies. Initiate re-rating process..
- Meeting with current financiers. Initiate re-rating process.

=====================================================================
OUTSTANDING / ON-GOING

Shareholders' Mandate
- Founder's legacy 2 - restructure founder shareholdings to focus on future strategy, finance, legal - in progress

Business Development
- Re-engage lost and new customers and continue to win more contract/projects - in progress
- Provide more innovative and new products and services to customers world wide. - In progress

Operations / Project Management / Procurement
- Continue focus on delivering continue safety, operational efficiency and cost effectiveness - in progress
- Continue to delivery on projects within customers expectations and satisfaction on time.

Finance
- Manage collections and expenditures - In progress

Governance
- Issues highlighted in forum will be dealt by SC/Bursa directly with forummers. SD will have no part in time wasting activities. - In progress.
- To deliberate offer by KPMG to resolve legal issue. - In progress.
.

.
To make a meaningful impact to what kinds of articles that I wrote previously, here is a summary list of them. Please note, that they will be updated from time to time, so please make sure to get the latest ones.

1) SD Key Action Plans - To indicate what Serba Dinamik is doing to ensure that it continues with its expansion plans and governance issues.

2) SD shareholders’ makeup – To indicate the parties who have an interest in Serba Dinamik and provide insights into the takeover dynamics by 3rd parties.

3) Media Attitude towards Serba Dinamik – To indicate how the media has changed their reporting and commentaries towards Serba Dinamik after reviewing the “Factual Findings Update”.

4) Documents Seized from Serba Dinamik – To indicate to what extend investigations and level of transgressions, if any, can be derived from and the impact on Serba Dinamik’s statutory obligations.

5) Why SIR is no longer needed with the disclosure of the Annual Report 2021/21.

Please disseminate to the Whatapp / Telegram / Forum groups as you see fit.
.

.
Looks like someone did a lot of leg work to have get his payout.

Leg work is important and crucial for activism.

Learn from this guy to improve effectiveness and efficacy.

Somemore DIY, no need get loyar.
.

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Hint : PNB has always owned the 1.9% or so difference thru proxies. PBB and Kenanga knows who they are.

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@InvestorKing, did you managed to figure out why I put 6.2% rather than 4.34% for PNB?

Just as a reminder, as confirmed from research houses, the following hold the % in SD.

https://www.bursamarketplace.com/mkt/themarket/stock/SERB/ownership

PNB - 6.2%
EPF 5.0%

https://klse.i3investor.com/servlets/staticfile/438915.jsp - Kenanga Research
https://klse.i3investor.com/servlets/staticfile/438945.jsp - PB Invest

Accordingly, the shareholding persons/entities in SD updated @ COB 12/11/2021

Name % Shareholdings

Mohd Abdul Karim bin Abdullah 21.2
Abdul Kadier bin Sahib 16.25
Unknown Shareholder 1 * 8.80
Unknown Shareholder 2 * 4.62
Employees Provident Fund Board 4.97
Kumpulan Wang Persaraan (Diperbadankan) 4.53
Permodalan Nasional Berhad (PNB) 6.20
State Financial Secretary, Sarawak 3.38
SBB Dana Al-lhsan 1.45
Lembaga Tabung Haji 1.39
Other Institutional Funds (Minimum 2m shares) 3.50
Other Mutual Funds (More than 2m shares holdings) 7.92
Estimated Intitutional & Mutual Funds (Less than 2m shares holdings) 0.50
Retail Investors (Balance) 15.29
Total Shareholdings 100.00

* Suspected Person, Group, Provident Fund
Note : Retail Investors (Balance) holds about (‘billion) 0.5

Summary

Founder Shares - 37.45%
Government Related Funds - 32.5%
Institutional & Mutual Funds - 14.76%
Retail Investors (Balance) - 15.29%
.

.
Note : Status the same @1st November 2021. Key focus is to disclose items before 30th November 2021.

@15th November 2021
Details of Key Action Indicators. Lets run the show for the better of SD.

COMPLETED ACTIONS FROM DETAILS BELOW
- Restructure company to greater heights - more contracts/projects, focus on customer.
- Founder's legacy 1 - removed margin call risks till 10 sen and before completion of SIR.
- Manage cash flow and forecasts.
- New financing initiatives will not involve Private Placement. and Rights Issue.
- EY will provide finalised SIR to Bursa.
- Bursa to request SD to announce SIR findings.
- Complete 2020 audit and annual report as planned.
- Complete 30/9/2020 QR within time frame or earlier (1st draft out by 21/10/2021).
- Group meetings with asset / fund managers together with re-rating agencies. Initiate re-rating process..
- Meeting with current financiers. Initiate re-rating process.

=====================================================================
OUTSTANDING / ON-GOING

Shareholders' Mandate
- Founder's legacy 2 - restructure founder shareholdings to focus on future strategy, finance, legal - in progress

Business Development
- Re-engage lost and new customers and continue to win more contract/projects - in progress
- Provide more innovative and new products and services to customers world wide. - In progress

Operations / Project Management / Procurement
- Continue focus on delivering continue safety, operational efficiency and cost effectiveness - in progress
- Continue to delivery on projects within customers expectations and satisfaction on time.

Finance
- Manage collections and expenditures - In progress

Governance
- Issues highlighted in forum will be dealt by SC/Bursa directly with forummers. SD will have no part in time wasting activities. - In progress.
- To deliberate offer by KPMG to resolve legal issue. - In progress.
.

.
To make a meaningful impact to what kinds of articles that I wrote previously, here is a summary list of them. Please note, that they will be updated from time to time, so please make sure to get the latest ones.

1) SD Key Action Plans - To indicate what Serba Dinamik is doing to ensure that it continues with its expansion plans and governance issues.

2) SD shareholders’ makeup – To indicate the parties who have an interest in Serba Dinamik and provide insights into the takeover dynamics by 3rd parties.

3) Media Attitude towards Serba Dinamik – To indicate how the media has changed their reporting and commentaries towards Serba Dinamik after reviewing the “Factual Findings Update”.

4) Documents Seized from Serba Dinamik – To indicate to what extend investigations and level of transgressions, if any, can be derived from and the impact on Serba Dinamik’s statutory obligations.

5) Why SIR is no longer needed with the disclosure of the Annual Report 2021/21.

Please disseminate to the Whatapp / Telegram / Forum groups as you see fit.
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Dear fellow DirectMessages users,

I understand the fear of being "cancelled" by the woke culture if you decide to post anything in this forum. However, you would have noticed that the cancel culture always try to belittle you by calling you nasty names, jeers, bring mean and etc.

As you are well aware, that is counterproductive to themselves as they just reinforce the notion that they bring nothing to the table. All time is spent cancelling others that do not agree with them. They nick pick on irrelevant matters.

My advice is for you to focus on the big picture, the issues at hand and do not get distracted with nonsense.

Please feel free to take my articles and circulate to your Telegram/Whatsapp and other forums you visit.

The time to move is now. Lets make it happen.
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Just an update to a previous post on which States and Government agencies are collaborating with Serba Dinamik (now includes recent AI announcement)

Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD
Oct 26, 2021 11:51 AM

State Governments
Malacca, Terengganu, Kelantan, Sabah, Sarawak

Malaysian Government Ministries/Agencies
Agensi Angkasa Malaysia (MYSA), Ministry of Science, Technology & Innovation (MOSTI), Malaysian Communications and Multimedia Commission (MCMC).

Petronas continues to be giving jobs to Serba as a Preferred Vendor
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To be honest, the SIR doesn't really matter anymore. Because, SD can release the Annual Report 2020 now if they want.

What this means is that Nexia has given their opinion on the FS for 2020.

The only saving grace for Bursa/EY, is for them to make sure that all their findings are correct and is consistent with the Nexia's opinion.

The so-called updated on 30th September 2021 strongly suggests that the conclusions are consistent with Nexia's opinion.

However, asking more clarifications from SD is very prudent of them, just in case if anyone questions and does not accept the conclusions of the SIR in future (which I am sure will be many and represents 80% of the participants here) and decides to make complaints to the authorities and/or take legal action.


Markable Yes, EY also mentioned there is few more "issue" need further clarify and surely it need more time, and SD boss wanted to uplift the suspension asap to avoid further "market untrust" of SD share.

Personally thinking, releasing SIR much much more important and gain back the trust from market. I no want everyday guessing this and that, tired.

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Dear all,
Please disseminate the articles that I write to your Whatsapp Group or Telegram Group.
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. (updated from yesterday)
The press/media has been acting up lately. What is surprising is that with so much negativity and revelations to audit issues to missed coupon payments which are hot off the press in lighting speed for the last 5 months, something has changed since last week. Never before the tone of the media been like this for Serba Dinamik.

Just as an example, it beggars belief that TheEdge reports on 16th November 2021,

Serba Dinamik develops algorithm to identify Covid-19 through cough
https://www.theedgemarkets.com/article/serba-dinamik-develops-algorith...

While, this may be a positive news for Malaysia, why report this from a company that supposedly has governance and coupon payment issues? Begs to wonder. Even the investment community were quick to put this into the furnace as utter irrelevance to the issues at hand.

And what is more interesting is the TheEdge article on 13th November 2021,

More questions raised after Serba Dinamik's lawsuit against special independent reviewer EY
https://www.theedgemarkets.com/article/more-questions-raised-after-ser...

provided a balance view on the issues at hand. Never before have I read a single piece of news from TheEdge that considers various issues from different perspectives. Its usually a piece that puts Serba Dinamik in bad light. This article was indirectly implying that "we have to study the details from every angle and come to a reasonable and fair conclusion for all parties".

But the most crucial stunner of them all is this, MSWG's CEO decides to use FocusMalaysia to air his personal opinion on 13th November 2021.

The Serba Dinamik saga: When things come to a head
https://focusmalaysia.my/the-serba-dinamik-saga-when-things-come-to-a-...

What is striking about this is a complete lack of decisive opinion from the writer. This is very unusual, since all opinions from the writer historically has always been accompanied with some highlights of issue and actions to be taken to resolve them quickly.

"MSWG is not aware of the contents of the ‘Factual Finding Update’ and as such is unable to opine on the materiality of the findings."

Shouldn't MSWG be the one to issue a statement?

The change in media tone is apparent and there are some dead giveaways as to what is really happening behind the scenes. Writing styles do tell lies.

For one, while MSWG is not aware of the contents ‘Factual Finding Update’, that doesn't mean that MSWG's CEO isn't. His use of syntax strongly suggest that he has read and understood its contents.

For two, TheEdge's writer and/or their interviewed sources may have read and understood its contents as they questioned the legitimacy of the appointment rather than the ‘Factual Finding Update. If it was illegitimate, such findings are null and void and assumed in-complete in the end.

Key Take Away

What this means, outside the realms of the meeting, 3rd parties have read and understood the contents of the ‘Factual Finding Update'.

It also means that many of the media have been misinformed as to the actual severity of the issue and perpetuated falsehoods. Who can corroborate this?

“Directors, independent ED’s and the audit committee need to be dynamic in looking into this, as well as other aspects of the firm. The ongoing business of the company has more importance than the audit issues themselves,”.

Serba Dinamik presses on despite suspension of trading on Bursa Malaysia
https://www.freemalaysiatoday.com/category/highlight/2021/10/23/serba-dinamik-presses-on-despite-suspension-of-trading-on-bursa-malaysia/

The Independent Directors' of Serba Dinamik seem to think so.
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Note : This is another falsehood being expunged. The ultimate regulator is Securities Commission Malaysia. They have the ultimate power and makes the final decision.

End the standoff: Serba Dinamik should make EY review public to prove it has nothing to hide
https://www.theedgemarkets.com/article/end-standoff-serba-dinamik-should-make-ey-review-public-prove-it-has-nothing-hide

We say this to Serba Dinamik: If the information contained in the EY Consulting review is not “material”, meaning it is not significant, why don’t you just release them to prove that you are right and that KPMG, EY Consulting and Bursa are wrong? Wouldn’t it be very satisfying to show that you have nothing to hide?

To Bursa, we say this: If Serba Dinamik refuses to release the information, the exchange should lift the suspension in the trading of Serba Dinamik shares and warrants to let the market be the judge of what it thinks about this fiasco.

Don’t be held to ransom. You are the regulator.
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Note : Status the same @1st November 2021. Key focus is to disclose items before 30th November 2021.

@15th November 2021
Details of Key Action Indicators. Lets run the show for the better of SD.

COMPLETED ACTIONS FROM DETAILS BELOW
- Restructure company to greater heights - more contracts/projects, focus on customer.
- Founder's legacy 1 - removed margin call risks till 10 sen and before completion of SIR.
- Manage cash flow and forecasts.
- New financing initiatives will not involve Private Placement. and Rights Issue.
- EY will provide finalised SIR to Bursa.
- Bursa to request SD to announce SIR findings.
- Complete 2020 audit and annual report as planned.
- Complete 30/9/2020 QR within time frame or earlier (1st draft out by 21/10/2021).
- Group meetings with asset / fund managers together with re-rating agencies. Initiate re-rating process..
- Meeting with current financiers. Initiate re-rating process.

=====================================================================
OUTSTANDING / ON-GOING

Shareholders' Mandate
- Founder's legacy 2 - restructure founder shareholdings to focus on future strategy, finance, legal - in progress

Business Development
- Re-engage lost and new customers and continue to win more contract/projects - in progress
- Provide more innovative and new products and services to customers world wide. - In progress

Operations / Project Management / Procurement
- Continue focus on delivering continue safety, operational efficiency and cost effectiveness - in progress
- Continue to delivery on projects within customers expectations and satisfaction on time.

Finance
- Manage collections and expenditures - In progress

Governance
- Issues highlighted in forum will be dealt by SC/Bursa directly with forummers. SD will have no part in time wasting activities. - In progress.
- To deliberate offer by KPMG to resolve legal issue. - In progress.
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.
The press/media has been acting up lately. What is surprising is that with so much negativity and revelations to audit issues to missed coupon payments which are hot off the press in lighting speed for the last 5 months, something has changed since last week. Never before the tone of the media been like this for Serba Dinamik.

Just as an example, it beggars belief that TheEdge reports on 16th November 2021,

Serba Dinamik develops algorithm to identify Covid-19 through cough
https://www.theedgemarkets.com/article/serba-dinamik-develops-algorithm-identify-covid19-through-cough

While, this may be a positive news for Malaysia, why report this from a company that supposedly has governance and coupon payment issues? Begs to wonder. Even the investment community were quick to put this into the furnace as utter irrelevance to the issues at hand.

And what is more interesting is the TheEdge article on 13th November 2021,

More questions raised after Serba Dinamik's lawsuit against special independent reviewer EY
https://www.theedgemarkets.com/article/more-questions-raised-after-serba-dinamiks-lawsuit-against-special-independent-reviewer-ey

provided a balance view on the issues at hand. Never before have I read a single piece of news from TheEdge that considers various issues from different perspectives. Its usually a piece that puts Serba Dinamik in bad light. This article was indirectly implying that "we have to study the details from every angle and come to a reasonable and fair conclusion for all parties".

But the most crucial stunner of them all is this, MSWG's CEO decides to use FocusMalaysia to air his personal opinion on 13th November 2021.

The Serba Dinamik saga: When things come to a head
https://focusmalaysia.my/the-serba-dinamik-saga-when-things-come-to-a-head/

What is striking about this is a complete lack of decisive opinion from the writer. This is very unusual, since all opinions from the writer historically has always been accompanied with some highlights of issue and actions to be taken to resolve them quickly.

"MSWG is not aware of the contents of the ‘Factual Finding Update’ and as such is unable to opine on the materiality of the findings."

Shouldn't MSWG be the one to issue a statement?

The change in media tone is apparent and there are some dead giveaways as to what is really happening behind the scenes. Writing styles do tell lies.

For one, while MSWG is not aware of the contents ‘Factual Finding Update’, that doesn't mean that MSWG's CEO isn't. His use of syntax strongly suggest that he has read and understood its contents.

For two, TheEdge's writer and/or their interviewed sources may have read and understood its contents as they questioned the legitimacy of the appointment rather than the ‘Factual Finding Update. If it was illegitimate, such findings are null and void and assumed in-complete in the end.

What this means, outside the realms of the meeting, 3rd parties have read and understood the contents of the ‘Factual Finding Update.
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Tomorrow a new revelation will be revealed.

Good news for SD? Perhaps.

Looks like some organisations screwed up (bluntly put). And its all in the press.

Attention to details!

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Oh no! Vengence is a dish served cold? TF is gonna look for ya'all and he will play with you lot soon.

Best of luck!

https://www.linkedin.com/feed/update/urn:li:activity:6865190507593773056/

If we recover from this which we will, we won’t forget those who helped and we won’t forget those who were just plain mean, like one bank and a reservation system, some preess can’t believe companies who made so much money from us then when we struggle with something as extreme as Covid and then treat us so badly.
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Note : Status the same @1st November 2021. Key focus is to disclose items before 30th November 2021.

@15th November 2021
Details of Key Action Indicators. Lets run the show for the better of SD.

COMPLETED ACTIONS FROM DETAILS BELOW
- Restructure company to greater heights - more contracts/projects, focus on customer.
- Founder's legacy 1 - removed margin call risks till 10 sen and before completion of SIR.
- Manage cash flow and forecasts.
- New financing initiatives will not involve Private Placement. and Rights Issue.
- EY will provide finalised SIR to Bursa.
- Bursa to request SD to announce SIR findings.
- Complete 2020 audit and annual report as planned.
- Complete 30/9/2020 QR within time frame or earlier (1st draft out by 21/10/2021).
- Group meetings with asset / fund managers together with re-rating agencies. Initiate re-rating process..
- Meeting with current financiers. Initiate re-rating process.

=====================================================================
OUTSTANDING / ON-GOING

Shareholders' Mandate
- Founder's legacy 2 - restructure founder shareholdings to focus on future strategy, finance, legal - in progress

Business Development
- Re-engage lost and new customers and continue to win more contract/projects - in progress
- Provide more innovative and new products and services to customers world wide. - In progress

Operations / Project Management / Procurement
- Continue focus on delivering continue safety, operational efficiency and cost effectiveness - in progress
- Continue to delivery on projects within customers expectations and satisfaction on time.

Finance
- Manage collections and expenditures - In progress

Governance
- Issues highlighted in forum will be dealt by SC/Bursa directly with forummers. SD will have no part in time wasting activities. - In progress.
- To deliberate offer by KPMG to resolve legal issue. - In progress.
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Quoting Acts and sections of legislations are of no use. Why? Because it doesn't get things done.

As highlighted by 1 of the 4 heavenly kings here, he had to engage a lawyer to get an EGM going.

Can't he get his letter out by himself (together with the other shareholders')? He should stand by his ability to get things done.

However, what is happening is having the knowledge but cannot execute competently and confidently is very evident here.

Also, lobbying is also not restricted to Bursa/SC. It also involves engagement with various government departments in Putrajaya. Legwork is important.
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If Scomi cannot deliver the trains and the CEO has dumped all his shareholdings PLUS its auditor wrote a looooooong letter about its audit issues which are far worst than SD, why is SC keeping quiet?

SC/Bursa what are you doing? Are you playing double standards? Aren't your Acts applicable to every entity in the same manner? Where is the SIR for Scomi?

Where is MSWG too?

SC/Bursa/MSWG, please note that your double standards have caught the attention of the law community in this part of the world.

Get cracking.

I wish you well SC, if you just started putting in resources to finalise SD's issue. Good luck.
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.Part 2

2) The level of transgressions that such documents can lead to, if any;

Based on SC’s statement in TheEgde, it can be reasonably assumed that “working documents” were seized. Such documents typically would contain various type of documents that are bundled to a specific project or operation work. In such documents, we would be able to verify the approving persons and how it is eventually recorded in the Financial Statements.

Such working documents would involve low to mid-level employees of SD with occasional approval from senior management based on the Limits of Authority (LOA).

What isn’t clear from SC’s statement in TheEdge, is whether seizure was made at the registered address. If we reasonably assume that there was no seizure of such documents, it would be difficult to identify transgressions committed by Senior Management and the BOD.

Documents that are not re-producible can lead to inability to verify the correctness and authenticity of the transactions. To obtain such documents from the 3rd parties, may prove difficult especially when it involves banks and government bodies. Obtaining a CTC may be difficult but doable.

Question is, do you have the time to wait for their response?

3) Ramifications of such seizure of documents on SD in fulfilling any statutory obligations.

In a worst-case scenario where SC seized all documents in all areas, it will definitely impact SD to continue to fulfil its statutory obligations, financial obligations, project and operational obligations. In short, SD’s ability to continue as a going concern is questionable.

However, since SD was able to disclose QR 30/6/2021, we can reasonably assume that it seems that the seizure of documents was related to QR31/3/2021 and KPMG’s assertions. It is most likely client/vendor and time specific.

Would it hamper Nexia’s ability to conduct its audit? Yes, unless like EY, Nexia has made a request to verify such documents at SC’s premises.
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. Part 1
https://www.theedgemarkets.com/article/sc-says-serba-dinamik-probe-ongoing-backs-ey-special-review

What kind of documents have SC seized (and still not returned up to the time of this writing)? For that, we have to make some realistic assumptions to what SD has in place. Typically, an O&G outfit is very into ERP (Enterprise Resource Planning) systems and Document Management Systems (DMS). With that, we shall explore

1) What documents that SC have given EY access to that “SD couldn’t produce or withheld from EY”;
2) The level of transgressions that such documents can lead to, if any;
3) Ramifications of such seizure of documents on SD fulfilling all of it’s statutory obligations.

1) What documents that SC have given EY access to that “SD couldn’t produce or withheld”
We shall dissect the type of documents into the following general categories for ease of understanding, according to the activities within SD namely

a) Sales and Marketing (S&M)
Typically, most documents under (S&M) consist of Invoices, Service Orders (from clients), Bid documents (and quotations), Letter of Awards and Contracts. Invoices are the only document that can be reproduced by SD from the ERP. Other official versions of documents like Bid Documents, Letter of Awards and Contracts would also be copied into DMS and copied for statutory purposes (like CoSec). Service Orders (from clients) may be also DMS, but in my experience it may not be so (unless having a copy in the email correspondences with the client or a copy being held by Procurement to raise PO) and for ISO purposes.

Likelihood of SD not producing or being withheld from EY – Low.

b) Projects, Operations and Procurement (POP)
Here is where the main activities of SD towards it’s clients are carried out. These are termed working documents. In most cases, these documents are reproduceable by SD as these can be generated by SD from the ERP system. Documents like work/service requisitions (from Projects and Operations), Delivery/Receipt Orders, Purchase Requisitions (and Vendor Quotation) are available.

What is not readily reproduceable are the reports on Project and Operations statuses. Typically, these documents exists for the purposes of BOD use, Approving Committee use and/or Statutory use. They are usually in the PowerPoint and Excel formats. These reports contain signatures of the approving personnel.

Likelihood of SD not producing or being withheld from EY – Medium.

c) Financial and Legal
Under Financial and Legal, it would reproduceable by the ERP system and documents like Payment Vouchers (which would also contain in bundle the S&M and POP documents). What would be reproduceable would be just the payment vouchers but not the supporting bundles, unless time is taken to re-construct the bundle.

What is also most likely not-reproduceable are external party documents (since most ERP system don’t cater for it). Most crucial for receipts and payments from clients and vendors respectively are the Bank Negara Forms and Bank Related forms. Whilst in typical online banking transactions, like Maybank2u or RHB Reflex, can be seen, it is line-by-line transactions unless there are queries from these banks into the nature of the receipts and remittances to and from clients/vendors.
There are some other forms that unless capturd in the DMS for ISO purposes, the likes of customs declarations forms, taxation forms for example, it is most likely not reproduceable by SD.

Likelihood of SD not producing or being withheld from EY – Medium.

d) Registered Address / Statutory
The registered address (usually the Company Secretary’s Office) would contain all the documents pertaining to senior management and BOD in the form of the meeting registers which contain all the deliberations and approval of all contract awards (with legal entities, legal and financial arrangements and financial appraisals), projects (details of project statuses, issues) and Operations (details of operation statuses, issues). Such documents provide the strategic view of how information would be reflected in the Financial Statements.

Of all the documents highlighted above, documents held by the registered address / statutory are the most important ones all because it gives SD the legitimacy and credibility for all of it’s actions. These documents are what would support or act in contrary to KPMG’s assertations

Likelihood of SD not producing or being withheld from EY – Low.

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Now, with that out of the way, you can assume and perceive that Mavcom is like SC in SD's case.

I will write about what documents were given from SC to EY (since it was written that SD withheld and cannot provide to EY during the course of the SIR). That will be given Monday.

And it looks like TheEdge would be the next one on SD's sights. Piss straight or your target comes back biting at your rear.
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This is great news. Our efforts paid off.

And this is a reminder to the 4 heavenly kings and their 2 followers, please provide better investor activism.

I (and my colleagues) don't want to be involved picking up your unfinished business.

Mavcom says air travel consumers not creditors, wants AirAsia X to reimburse customers for tickets purchased

https://www.malaymail.com/news/malaysia/2021/11/12/mavcom-says-air-travel-consumers-not-creditors-wants-airasia-x-to-reimburse/2020468
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SC assures the investing public that it has made progress on its investigation and additional resources have been added to the team to ensure the investigation is completed in a timely manner.

Lets see how SC supports the investing public.

Just as a reminder, as confirmed from research houses, the following hold the % in SD.

https://www.bursamarketplace.com/mkt/themarket/stock/SERB/ownership

PNB - 6.2%
EPF 5.0%

https://klse.i3investor.com/servlets/staticfile/438915.jsp - Kenanga Research
https://klse.i3investor.com/servlets/staticfile/438945.jsp - PB Invest

Accordingly, the shareholding persons/entities in SD updated @ COB 12/11/2021

Name % Shareholdings

Mohd Abdul Karim bin Abdullah 21.2
Abdul Kadier bin Sahib 16.25
Unknown Shareholder 1 * 8.80
Unknown Shareholder 2 * 4.62
Employees Provident Fund Board 4.97
Kumpulan Wang Persaraan (Diperbadankan) 4.53
Permodalan Nasional Berhad (PNB) 6.20
State Financial Secretary, Sarawak 3.38
SBB Dana Al-lhsan 1.45
Lembaga Tabung Haji 1.39
Other Institutional Funds (Minimum 2m shares) 3.50
Other Mutual Funds (More than 2m shares holdings) 7.92
Estimated Intitutional & Mutual Funds (Less than 2m shares holdings) 0.50
Retail Investors (Balance) 15.29
Total Shareholdings 100.00

* Suspected Person, Group, Provident Fund
Note : Retail Investors (Balance) holds about (‘billion) 0.5

Summary

Founder Shares - 37.45%
Government Related Funds - 32.5%
Institutional & Mutual Funds - 14.76%
Retail Investors (Balance) - 15.29%
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For those DM'ing me for further information and/or join the telegram group, I publicly state here that for information about SD, you can refer to the forum.

All that you need to know about what is happening in SD and also external of SD is here. Hence, I feel that the platform provide a balanced view.

As for the group, I would humbly decline the offer as I feel that I would be more effective in the forum (since it is public).

Thanks.
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Note : Status the same @1st November 2021. Key focus is to disclose items before 30th November 2021.

@8th November 2021
Details of Key Action Indicators. Lets run the show for the better of SD.

COMPLETED ACTIONS FROM DETAILS BELOW
- Restructure company to greater heights - more contracts/projects, focus on customer.
- Founder's legacy 1 - removed margin call risks till 10 sen and before completion of SIR.
- Manage cash flow and forecasts.
- New financing initiatives will not involve Private Placement. and Rights Issue.
- EY will provide finalised SIR to Bursa.
- Bursa to request SD to announce SIR findings.
- Complete 2020 audit and annual report as planned.
- Complete 30/9/2020 QR within time frame or earlier (1st draft out by 21/10/2021).
- Group meetings with asset / fund managers together with re-rating agencies. Initiate re-rating process..
- Meeting with current financiers. Initiate re-rating process.

=====================================================================
OUTSTANDING / ON-GOING

Shareholders' Mandate
- Founder's legacy 2 - restructure founder shareholdings to focus on future strategy, finance, legal - in progress

Business Development
- Re-engage lost and new customers and continue to win more contract/projects - in progress
- Provide more innovative and new products and services to customers world wide. - In progress

Operations / Project Management / Procurement
- Continue focus on delivering continue safety, operational efficiency and cost effectiveness - in progress
- Continue to delivery on projects within customers expectations and satisfaction on time.

Finance
- Manage collections and expenditures - In progress

Governance
- Issues highlighted in forum will be dealt by SC/Bursa directly with forummers. SD will have no part in time wasting activities. - In progress.
- To deliberate offer by KPMG to resolve legal issue. - In progress.
.

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Correct. True. Fact. Cannot be challenged. My question is

Why did EY let SC/Bursa dispute EY's conclusions and thereafter change it? To such an extent that there is a disclaimer of responsibility from EY?


InvestorKING EY noted that it was appointed by Serba Dinamik’s board of directors, under the directive of Bursa. “We disagree with the position taken by Serba Dinamik. We undertook our duties professionally and stand by all our actions to date,” EY said in the statement.
12/11/2021 9:18 AM
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