Bursa suspended the trading of Serba Dinamik shares and warrants on Friday afternoon, and said the trading suspension will remain until Serba Dinamik makes an announcement in compliance with the directive.
Bursa Securities said the directive is given to ensure the audit issues highlighted by KPMG are addressed in a "timely manner and provide clarity to the market". -The Edge
Let wait and see whether Bursa will lift the suspension of tradiing today? If they dont, what will the basis for Bursa to continue the suspension. Even if Bursa decide to allow resumption of trading, Bursa should state why!!! The way Bursa is handling this is a MESS. There’s much focus on making profit as a listed Bourse and little time to invest in cost centre like monitoring, surveillance and supervision.
Totally agree with you unclefollower . It was confusing even reading the 4th time. Bursa really need to forward us some clarification as they are partly to blame in round . As I understand it eventually ..as at 30/9 means the report/ investigation only covers up till this date . It can also imply that it is not a completed one and the investigation is ongoing .
I had full confidence in my judgement on SD before today... I bought at 0.4x sens and still holding... it's just that today's development baffled me.... and maybe a little doubt crept in... I'll wait to see the final chapter for sure... still feel Karim will sail through the turbulence
There can be miracles When you believe Though hope is frail, it's hard to kill Who knows what miracles you can achieve? When you believe, somehow you will You will when you believe
Given the gravity of such audit issues by KPMG, BURSA should have suspended the stock since day 1! The way the price had fallen is a joke on BURSA! Who were they protecting? Certainly not the general public and shareholders!
Whenever, a listed co is unable to meet it's FY end Accs, it should be suspended! Where the QR is not furnished in time, diligent action should be taken, like suspending the counter after a certain extension is given!
There is no way accs cant be completed in time and gets audited by reputable auditor in time too! One story related by a Senior person of an audit team...certain listed company and one SPAC at that time did not have any financial reporting system and were running it on EXCEL!
Hoe did BURSA get them pass it's diligence test and recommendation by the merchant bank for listing?
As it’s requested by Bursa, EY updates bursa and has all the info for them to decide if SIR is completed or not. It’s not a full audit, just to confirm findings. Very rudimentary role, either Yes or No.
SD latest stance is, they are not accepting EY findings. That’s why to SD, the SIR work is not done when Bursa and EY says it’s finished. Similar situation with KPMG earlier.
To have clarity for the investment community, everyone should make an effort to make SIR going public through their own means
K just want to play his game only, care not bout rules, proper audit and all. His game and his rule only. Bad example of corporate governance. No buy, no red eyes
What a joke...if EY still working om SIR, SD can just clarify it last Friday after market close....why not done? ...I smell fish...fishy to the core..wakakakaka
That is why the chair also said last time, we pay the auditors....so they must cooperate ( follow our says la) with us. Such arrogance while utilizing money from investors (not just his money).
lai lai lai , This K is very naive leh. He think that SC play play with him. Or he thinks that his back mountain is strong enough for him not to announce SIR. Of course he can ignore SC by giving a thousand reasons if his back mountain is strong enough to ask SC to shut up. But, the issue is he forget whether the price raise is depends on market. If he cannot rebuild confident of investors by announcing SIR, investors will never re-trust SD and whatsoever good QR will be treated fake and human created QR. as easy as that.
Mr. K, you know why you said financial institution left you when you are in difficulty ? The reason is you FAILED to earn their trust. Trust and Reliability is important is doing long term business. So far, you just show investors how well you are in playing the game. You never wanted to face the problems, find ways to solve it and eventually overcome to problem. You continued to play yeah. And see when SD can go back to its previous glory yeah.
KUALA LUMPUR (Oct 25): Based on corporate announcements and news flow on Monday, companies in focus on Tuesday (Oct 26) may include: Serba Dinamik Holdings Bhd, Yinson Holdings Bhd, Petronas Gas Bhd (PetGas), Affin Bank Bhd, Cepatwawasan Group Bhd, Genetec Technology Bhd, Supermax Corp Bhd, Telekom Malaysia Bhd (TM), Genting Malaysia Bhd, Annum Bhd, Southern Cable Group Bhd, Cabnet Holdings Bhd, Theta Edge Bhd, JAKS Resources Bhd, Kenanga Investment Bank Bhd, Oriental Interest Bhd, Hup Seng Industries Bhd, Axis Real Estate Investment Trust (Axis REIT), Samaiden Group Bhd, TDM Bhd and Straits Energy Resources Bhd.
Serba Dinamik Holdings Bhd, whose securities have been suspended from trading by Bursa Malaysia as it failed to provide timely update on the findings of the special audit, said Bursa has allowed it to postpone the submission to Nov 30 from Oct 31. Serba Dinamik has also denied that its directors had been given a “factual findings update” by Ernst & Young (EY), which is undertaking the special independent review of the group's financial accounts. Serba Dinamik said EY was still in the midst of performing the review.
last time he sold all warrant and got locked. when market open. what will happen. haha. roller coaster again. he still hv 20%+ guess yourself what will happen when transaction is open.
if no issue just post the report why took so long. accountant no ot? big 4 in auditor field says need another month. are them hardworking or the report has serious issue, no issue why need review. just post it.
Hopefully bursa would make an announcement to explain in detail to the public investor the actual fact of tis saga... If no explanation the public might think there is a powerful hand behind this episode of drama till bursa hv to silence.
You know there was a guy from MCA, bankrupt go to bank to borrow loan, as he is so capable till bank also borrow him the money leh. proven later he rebuild his empayor. This is a truth story. K should ask himself, why i only in difficulty , financial institution oledi left me ?? Adodo, If i were financial institution i will do the same , may be faster. You continued to play your game yeah which you think very smart. But, for investors, your game is just radiculous leh
Today if SD resume trading, sure will drop red. so with SCIB and Kpower. Do you think investors will continue to buy today when knowing SIR postpone and also AR. aiyoyo
----------------------------------------------------------------------------------------- Speedrc Ready upup guys!!!! 26/10/2021 7:55 AM
aiyoyo, K also now dont dare to talk like you leh, SIr also dont have, how to come back leh ----------------------------------------------------------------------------------- superman7181 Mark my words , serbadk is gonna shut all haters mouth. Comeback confirmed 26/10/2021 8:09 AM
aiyoyo, if i were you, i will not take kopi dulu loh. nanti sudah red, muntah habis habis apa yang you makan dan minum loh ---------------------------------------------------------------------------------------------------------- Legend Morning..kopi 434 dulu..nanti sudah red tak ada selera mau minum. 26/10/2021 8:14 AM
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Posted by sunnyleong > 2021-10-26 00:20 | Report Abuse
Perform lan meh. Always news out, put rocket whatever. 3 years kids also know were drama.