Impossible Friday will lift suspension...SD is clearly biding time... hope SIR could be ready end of Nov... together with AR... otherwise, it will drag to who knows when.
There are a couple of tranches of dividends that are less than 1 year old.
If the company were to be insolvent within 12 months of the last dividend payment, the directors can face criminal and civil actions under the Companies Act 2016 (Section 132 Distribution only if company is solvent and Sec 133 Recovery of Distribution).
leno With ZERO cash and MASSIVE DEBT on top of FRAUD Accounting Sebak is Dead.
Starting yesterday, bankers, creditors, suppliers are scrambling over each other to get back their money.
Until now,scib is still arrogant that what was provided by EY was not material to the market and refused to make announcements. WTF with this kind of Listed co not to uphold corporate governance and good listing practice.
if in doubt you can call up any Listing Officer from Bursa and ask whether it is material or not. If Listing Officer says it is material then you can make announcement. Thats for normal companies with good Corporate Governance.
Sebak has reached Zero cash on end of sep. Now is end of october. Next week is november, all sebak staff will be in for a big shock. Sebak will be slap with bankruptsy suit soon. Within 29 days, Sebak will close shop.
SERBA Dinamik Holdings Bhd is unable to meet Bursa Malaysia’s deadline yesterday to announce the findings of the special independent review (SIR) as the audit process remains in progress.
Group MD and CEO Datuk Dr Mohd Karim Abdullah said the SIR auditor, Ernst & Young Consulting Sdn Bhd (EY), needs the company to clarify a few things before proceeding to release its audit findings.
He added that the questions raised by EY were related to operational matters as business conduct differs across countries Serba Dinamik has operations in.
“Hopefully the easing of standard operating procedures on Covid-19 restrictions in different countries can help to expedite the verification process. It depends on agreement or cooperation of all parties involved,” he told The Malaysian Reserve when asked about the date the group will be able to announce the findings.
The market regulator, in a statement last week, directed Serba Dinamik to make an announcement on the findings from the Factual Findings update (FFU) by Oct 26, 2021.
Bursa Securities notes that the findings from the FFU as at Sept 30, 2021, on the SIR have been communicated to three out of four independent non-EDs on Oct 21, 2021.
“In this regard, Bursa Securities notes that to date, Serba Dinamik has not announced the findings from the FFU in accordance with Paragraph 9.03 of the Main Market Listing Requirements,” it noted.
In an exchange filing on Monday, Serba Dinamik replied that the company does not have anything on paper from EY that could be regarded as the FFU to present to the exchange.
The sad case is many smart investor still support this kind of company, this is why we have so many criminal leaders....how can the CEO hide information from shareholder...Karim thought he running private company....lol
joyvest quoted Until now,scib is still arrogant that what was provided by EY was not material to the market and refused to make announcements. WTF with this kind of Listed co not to uphold corporate governance and good listing practice. 27/10/2021 10:08 PM
Still wait? How if the outcome is fraud case? What will be the ending? If a company is running losses, it can be turnaround. BUT if a company is running fraud, it can only end up with DELISTING!!!
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 209 views | 3 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....
Wirajati
610 posts
Posted by Wirajati > 2021-10-27 21:32 | Report Abuse
Savage! But sweet...;)
Bobvic96
Way past your bedtime, get the nurse to put you a clean nappy on.