Should not have been allowed to dispose his warrants …..this is not fair trading and conduct of orderly market…which Bursa or any other exchange prescribes to! Suspend after the horse has bolted. Shameful
Jokers maintain an orderly market ….when was it orderly? As soon as all thsi came out it has been nothing but orderly! The insiders have been trading mostly selling their shares without any recourse.
karim already went in record as reported by focus malaysia this morning..to state his case as far as warrants selling is concerned with the following 2 key points..
“My warrant disposal is to take advantage of it being traded at premium and shouldn’t be conceived as I harbor intention to exit the ship which I took so much sweat, tears and blood to build … I will make sure the ship continues to sail in the roughest of seas,” he told FocusM.
“Rest assured that I shall channel proceeds from the sale of the warrants to acquire the mother shares…Despite the turbulence, it’s still very much BAU (business as usual) at Serba as our current order book stands at RN18 billion".
We have to give him the benefit of the doubt and accept what he says for now, until the SIR report comes out and trading resumes after the suspension is lifted, most likely next week.
Kindly be advised that trading in the Company's securities will be suspended with effect from 2.30 p.m., Friday, 22 October 2021 until further notice. The suspension is effected pursuant to paragraph 16.02(1)(c) of the Main Market Listing Requirements in the interest of maintaining an orderly and fair market in the trading of SERBADK’s securities.
Accordingly, all structured warrants relating to SERBADK will also be suspended at the same time
The suspension is effected pursuant to paragraph 16.02(1)(c) of the Main Market Listing Requirements in the interest of maintaining an orderly and fair market in the trading of SERBADK’s securities.
. Since its now suspended, we can now focus on the real issues and next important step - meet fund providers and re-rating agencies. Meetings all setup.
Here is the progress of SD. Key Action Indicators: -
COMPLETED ACTIONS FROM DETAILS BELOW - Manage cash flow and forecasts - COMPLETED (30/9/2021 consolidated cash balances COMPLETED). - New financing initiatives will not involve Private Placement. and Rights Issue. - COMPLETED - EY will provide finalised SIR to Bursa. - COMPLETED - Bursa to request SD to announce SIR findings. - COMPLETED. Awaiting Bursa notification to disclose. - Complete 2020 audit and annual report as planned - COMPLETED - Complete 30/9/2020 QR within time frame or earlier - COMPLETED AND APPROVED. (1st draft out by 21/10/2021)
CURRENT ACTIONS - Manage prospective asset management / fund management companies who have offered to provide funding (Provide cash balance, draft 30/9/2021 financials and forecasts) - In progress. Meeting arranged. - Re-engage and manage current financiers (Provide cash balance, draft 30/9/2021 financials and forecasts) - In progress. Meeting arranged. - Engage rating agencies (Provide cash balance, draft 30/9/2021 financials and forecasts for re-rating) - - In progress. Meeting arranged. - To deliberate offer by KPMG to resolve legal issue. - In progress.
Details of Key Action Indicators. Lets run the show for the better of SD.
Shareholders' Mandate - Restructure company to greater heights - more contracts/projects, focus on customer - done - Founder's legacy 1 - removed margin call risks till 10 sen and before completion of SIR - done - 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 cash flow and forecasts - COMPLETED (30/9/2021 consolidated cash balances COMPLETED). - Manage collections and expenditures - In progress - Manage prospective asset management / fund management companies who have offered to provide funding (Provide cash balance, draft 30/9/2021 financials and forecasts) - In progress. Meeting arranged. - Re-engage and manage current financiers (Provide cash balance, draft 30/9/2021 financials and forecasts) - In progress. Meeting arranged. - Engage rating agencies (Provide cash balance, draft 30/9/2021 financials and forecasts for re-rating) - In progress. Meeting arranged. - New financing initiatives will not involve Private Placement. and Rights Issue. - COMPLETED
Governance - EY will provide finalised SIR to Bursa. - COMPLETED - Bursa to request SD to announce SIR findings. - COMPLETED. Awaiting Bursa notification to disclose. - Complete 2020 audit and annual report as planned - COMPLETED - Complete 30/9/2020 QR within time frame or earlier - COMPLETED AND APPROVED. (1st draft out by 21/10/2021 - 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. .
If drop 5% Bursa suspense Trading, maybe another 20--30 stock has to stop trading... SerB is Not even a Index Component, why Bursa takes so much attention on SerB?
I think @janetan68 also received the same messaged that we all fund managers received............................. Today can pang kang early................... hahahaha............
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
MQ Trader 106 views | 9 h ago
0:17
New IPO: An enterprise IT solutions provider that provides implementation services, maintenance, support and professional services, Vetece Holdings Bhd aims to list on the Ace Market!
MQ Trader 379 views | 4 d ago
0:17
New IPO: A manufacturing and trading of biomass fuel products, particularly PKS and wood pellets company, Elridge Energy Holdings Bhd aims to list on the Ace Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Riaz1954
1,296 posts
Posted by Riaz1954 > 2021-10-22 14:42 | Report Abuse
Should not have been allowed to dispose his warrants …..this is not fair trading and conduct of orderly market…which Bursa or any other exchange prescribes to! Suspend after the horse has bolted. Shameful