Posted by PSAi3alert > 2021-10-28 17:46 | Report Abuse

Serba's Chairman does not need to change 9.03 of the MMLR because he's arguing that the factual findings document was not made by Serba and as such does not need to be disclosed.


"Given that the purported update is not a document made by Serba Dinamik or any of its directors, Ilyas contended that neither the company nor its directors was in a position to suggest that such a document would fall within the terms of paragraph 9.03 and 9.35A of the MMLR." - Serba Chairman

9.03 Disclosure of material information

(2) Information is considered material, if it is reasonably expected to have a material effect on:-
(a) the price, value or market activity of any of the listed issuer's securities; or
(b) the decision of a holder of securities of the listed issuer or an investor in determining his choice of action.

(3) Without limiting the generality of subparagraph (2) above, material information may include information which:-
(a) concerns the listed issuer's property, business, financial condition or prospects;
(b) related to dealings with employees, suppliers, customers and others;
(c) relates to any event affecting the present or potential dilution of the rights or interests of the listed issuer's securities; or
(d) relates to any event materially affecting the size of the public holding of its securities;




i3lurker Bursa listing guidelines is whether any information is material or not.
whether the information is official or not is not stated and not important.

but of course Serba can sue to get BURSA Listing Manual changed by Court Order if Judge agrees.

Just like anybody can sue to get Constitution of Malaysia changed. Whether Judge agrees with you that you are more important than Parliament is the question.


Posted by neohts > Oct 28, 2021 5:04 PM | Report Abuse

https://www.nst.com.my/business/2021/10/740452/no-reason-bursa-suspend...

"No reason for Bursa to suspend Serba Dinamik as review findings are unofficial"
28/10/2021 5:23 PM

Posted by nicholas99 > 2021-10-28 17:48 | Report Abuse

Even an MOU also needs to disclose..

Posted by nicholas99 > 2021-10-28 17:48 | Report Abuse

Any little details also needs to disclose..

Posted by nicholas99 > 2021-10-28 17:48 | Report Abuse

Director purchase 10 units also needs to disclose.

Posted by nicholas99 > 2021-10-28 17:49 | Report Abuse

SIR is an important document. it concludes many things.

Posted by nicholas99 > 2021-10-28 17:50 | Report Abuse

Whether this business financially sounds.. and we all know financial of the company is the one single most important thing for investor to rely on before investing.

Posted by solomolo > 2021-10-28 17:54 | Report Abuse

no need serbadk to sue Bursa ..will get trap loh... out the SIR is enough

Posted by nicholas99 > 2021-10-28 17:58 | Report Abuse

Its like you got a guy saying he wants to marry you. But he cannot provide you his picture, cannot meet you personally. Do you want to marry him?

Posted by nicholas99 > 2021-10-28 18:00 | Report Abuse

Auditor were hired by Serba Dinamik. Serba dinamik has the right to verify the findings and disclose them.

Posted by solomolo > 2021-10-28 18:01 | Report Abuse

better report to police than sue..see what happen

Posted by nicholas99 > 2021-10-28 18:03 | Report Abuse

Yeah.. Everyone knew Bill Gates. You just can google it.

Posted by InterFund® > 2021-10-28 18:05 | Report Abuse

Confirm salah.......................

Posted by dimmubroker > 2021-10-28 18:06 | Report Abuse

When is expected to settle the SIR?

Posted by dimmubroker > 2021-10-28 18:07 | Report Abuse

SD has to respond to any findings. That is true

Posted by nicholas99 > Oct 28, 2021 6:00 PM | Report Abuse

Auditor were hired by Serba Dinamik. Serba dinamik has the right to verify the findings and disclose them

Posted by Calafate > 2021-10-28 18:09 | Report Abuse

The boss
https://www.youtube.com/watch?v=bwNrLe8DoWI

Posted by Hantu Gigi Jarang > 2021-10-28 18:10 | Report Abuse

If EY hasn't signoff, who's going to signoff and disclose the prelim report? What to disclose? Bursa has to explain the logic of its request...

Posted by Honesty > 2021-10-28 18:10 | Report Abuse

When the info is passed to you, obviously you need to verify it!!
Who will buta buta accept it and present to the public ??

Posted by hanna20 > 2021-10-28 18:11 | Report Abuse

“No reason for Bursa to suspend Serba as SIR findings are unofficial” - save malaysia! | I3investor


“No reason for Bursa to suspend Serba as SIR findings are unofficial”
Author: savemalaysia Publish date: Thu, 28 Oct 2021, 3:35 PM

SERBA Dinamik Holdings Bhd believes that it possesses concrete reasons for Bursa Malaysia Securities Bhd to lift the suspension of its shares/warrants which has come to effect since the second trading session last Friday (Oct 22).

In a letter to the market regulator dated Oct 27 sighted by FocusM, the company’s chairman Datuk Ilyas Mohamed described the market regulator’s suggestion that Serba Dinamik take steps to make an application for extension of time (EOT) as “an act which is in excess of power”. It is Serba Dinamik’s contention that Bursa has acted outside the limits of its power.

To re-cap, EY had staged a PowerPoint presentation on Oct 21 which was attended by three of Serba Dinamik’s independent non-executive directors (INEDs) in the presence of representatives from Bursa Malaysia.

However, the INEDs claimed that the briefing was merely “a preliminary finding which was inconclusive” with EY not reaching any conclusion, hence certainly not for them or anyone else to second guess the conclusion that EY may come to when it completes the SIR.

“At the moment, everything is very much a work-in-progress and in piece-meal basis, hence it’s very inappropriate to release the findings which otherwise would further cloud the achievement of our target rather than to resolve the problem at hand,” they collectively told FocusM.

“As this was only the preliminary findings, there was no copies of handouts or materials being circulated during the presentation … moreover, it was meant to be that way.”

In a media statement on Oct 22, Bursa Malaysia Securities had claimed that findings from the SIR’s Factual Findings Update as of Sept 30 had been communicated to three out of four of Serba Dinamik’s independent non-executive directors (INEDs) on Oct 21.

This has led to the market regulator issuing a directive under paragraph 2.23 of the Main Market Listing Requirements (MMLR) to Serba Dinamik to, among others, make an announcement on the findings from the Factual Findings Update by today (Oct 26).

Additionally, the market regulator also ruled that Serba Dinamik’s stock trading suspension which started at the outset of Friday’s (Oct 22) afternoon session will remain indefinitely until further notice until the company reveals the findings from the Factual Findings Update.

Ilyas further pointed out in his letter to Bursa Malaysia Securities that even though EY had delivered the purported “Factual Findings Update” to the INEDs in question two days later on Oct 23, the format of the document was merely in a PowerPoint slide format.

“The purported “Factual Findings Update” is a document without an author in that it is not signed off by anyone; had clearly indicated that it was not to be relied upon by anyone; and is not the same document that was presented to the INEDs at the briefing on Oct 21,” he noted.

Given that the purported “Factual Findings Update” is not a document made by Serba Dinamik or any of its directors, Ilyas contended that neither Serba Dinamik nor its directors is in a position to suggest that such a document would fall within the terms of paragraph 9.03 and 9.35A of the MMLR.

Meanwhile, Bursa Malaysia Securities latest stance remains that Serba Dinamik has not complied with the directive to make an announcement on the findings from the Factual Findings Update on its Special Independent Review by Oct 26.

“Accordingly, the trading in the company’s securities shall be suspended with effect from 9am on Oct 27 (Wednesday),” Bursa Malaysia Securities pointed out in a letter to Serba Dinamik yesterday (Oct 27).

As the trading in the company’s securities has been suspended since 2.30pm on Oct 22, the suspension of trading will continue until further notice, added the market regulator. – Oct 28, 2021



https://focusmalaysia.my/no-reason-for-bursa-to-suspend-serba-as-sir-findings-are-unofficial/

Posted by Honesty > 2021-10-28 18:11 | Report Abuse

That is not suprising, what is suprising is how many nay sayers wanting the share to open again ??
Maybe because they went OT in creating a panic and now no effect on the share price !! Effort wasted ~~ wakakka

Posted by nicholas99 > 2021-10-28 18:11 | Report Abuse

play with the house rules please.

Posted by hanna20 > 2021-10-28 18:11 | Report Abuse

But for me, this suspension is good also.

At least to further downtrend until SIR come out

Posted by Honesty > 2021-10-28 18:13 | Report Abuse

FYI!! the share will only reopen once the SIR is presented publicly!!
And chance of it being positive is pretty high as now serba is fully focus in ironing out a result from ey ANd they have all the time without the worry of the share price falling !!
Blessing in disguise~~
Huat arrrr!!

Posted by solomolo > 2021-10-28 18:13 | Report Abuse

Hanna20 yup agree on that...my porfolio still green bcos of serbadk..even Kpower loss so much

Posted by Honesty > 2021-10-28 18:16 | Report Abuse

Is it pathetic for someone to do something without a reason ??
Nay sayer talk trash on serba for no reason ??
Either they are pathetic or just wanting to buy cheap ticket ??
You be the judge!!

Posted by Honesty > 2021-10-28 18:18 | Report Abuse

I really feel sad for Scib and k power!! BUT i feel blessed for serba !!
Regret for the dig but all the holders feel the same !! Not sure why the trash talker paint it like a bad thing?? Maybe they are just senseless and pathetic to talk whatever bs

Posted by solomolo > 2021-10-28 18:23 | Report Abuse

Honesty just relax...wait tomorrow or next week..or after budget..see what happen next

Posted by brianklc > 2021-10-28 18:26 | Report Abuse

Choose, suspension removed without SIR results n it continue to slide or suspension removed after SIR results?

Posted by solomolo > 2021-10-28 18:28 | Report Abuse

after SIR is better

Posted by dianatrader > 2021-10-28 18:28 | Report Abuse

At the end, he might actually the loser one.

Who knows,right?

Posted by InterFund® > Oct 28, 2021 4:12 PM | Report Abuse

People said Awang is stuupid because when he disposed.............. The price goes up.............. Little did they know Awang is the smartest insider.......................... hahahaha..............

Posted by solomolo > 2021-10-28 18:33 | Report Abuse

okeylah just opinion..who care is it...hehe

Posted by dianatrader > 2021-10-28 18:35 | Report Abuse

Yes. Wait for SIR

Posted by InterFund® > Oct 28, 2021 4:12 PM | Report Abuse

People said Awang is stuupid because when he disposed.............. The price goes up.............. Little did they know Awang is the smartest insider.......................... hahahaha..............

Posted by solomolo > 2021-10-28 18:38 | Report Abuse

........



DATU HAJI MOHIDIN BIN HAJI ISHAK on 28-Oct-2021 buy share at 0.325 price today

https://klse.i3investor.com/insider/director/9237/28-Oct-2021/161532_571133988.jsp

why Datu Haji still buy Scib today when he also know to suspended....hehe

.......

Posted by alieyasmart > 2021-10-28 18:38 | Report Abuse

They have to disclose everything

Posted by nicholas99 > Oct 28, 2021 5:48 PM | Report Abuse

Even an MOU also needs to disclose

Posted by alieyasmart > 2021-10-28 18:38 | Report Abuse

SD can restore the trust on them by being more transparent

Posted by Beautyseeker > 2021-10-28 18:44 | Report Abuse

Are you sure it is only SD?

Posted by Nikmon > Oct 28, 2021 4:21 PM | Report Abuse

There are close to 1k of public listed company, SD is the only company cant work with Auditor, Risk director, and latest bursar, so SC is next......

Pity those who stuck in this counter, you deserve cause invest without use brain. when there are many red flag, sue auditor, sue ex-director and resign,

Pls don't suicide,, think about your family, they still need you pay the debt, don't pass your debt to your family.....lol

Posted by Sslee > 2021-10-28 18:44 | Report Abuse

When you appointed unqualified half pass six as company’s chairman what do you expect?

Posted by OpporturnityHunter > 2021-10-28 18:44 | Report Abuse

cry cry, if like that we cry cry, he cry cry x 4 loh

-------------------------------------------------------------------
Depeche @opportunityHunter, only 2 possibilities...1) either he is surrendering to defeat and let the titanic sink.
Or 2) he's planning to do Houdini's Great Escape.
Right now... it's looking more like 1)
28/10/2021 5:33 PM

Posted by Beautyseeker > 2021-10-28 18:45 | Report Abuse

Just give them time to settle the SIR.

I am sure Bursa also really looking on it

Posted by wolfbroker > 2021-10-28 18:46 | Report Abuse

Really challenging for KP also

Posted by sheep > Oct 28, 2021 4:28 PM | Report Abuse

omg..KP dropped more 2day than SCIB today....

Posted by wolfbroker > 2021-10-28 18:46 | Report Abuse

Lucky i dont have anything in KP anymore.

But still hold SD and SCIB

Posted by OpporturnityHunter > 2021-10-28 18:48 | Report Abuse

aiyoyo, Karem also buy but SD shares, price also drop loh. hehehehe, unless karem have fund to acquire 51 percent of total share loh, hehehehehe. Nay be Ishak got. he buy ppl sell, see how win loh
------------------------------------------------------------------------------------------------------------

DATU HAJI MOHIDIN BIN HAJI ISHAK on 28-Oct-2021 buy share at 0.325 price today

https://klse.i3investor.com/insider/director/9237/28-Oct-2021/161532_5...

why Datu Haji still buy Scib today when he also know to suspended....hehe

.......

Posted by kamirise360 > 2021-10-28 18:50 | Report Abuse

No more sue and sue hopefully

Posted by PSAi3alert > Oct 28, 2021 5:46 PM | Report Abuse

Serba's Chairman does not need to change 9.03 of the MMLR because he's arguing that the factual findings document was not made by Serba and as such does not need to be disclosed.


"Given that the purported update is not a document made by Serba Dinamik or any of its directors, Ilyas contended that neither the company nor its directors was in a position to suggest that such a document would fall within the terms of paragraph 9.03 and 9.35A of the MMLR." - Serba Chairman

9.03 Disclosure of material information

(2) Information is considered material, if it is reasonably expected to have a material effect on:-
(a) the price, value or market activity of any of the listed issuer's securities; or
(b) the decision of a holder of securities of the listed issuer or an investor in determining his choice of action.

(3) Without limiting the generality of subparagraph (2) above, material information may include information which:-
(a) concerns the listed issuer's property, business, financial condition or prospects;
(b) related to dealings with employees, suppliers, customers and others;
(c) relates to any event affecting the present or potential dilution of the rights or interests of the listed issuer's securities; or
(d) relates to any event materially affecting the size of the public holding of its securities;




i3lurker Bursa listing guidelines is whether any information is material or not.
whether the information is official or not is not stated and not important.

but of course Serba can sue to get BURSA Listing Manual changed by Court Order if Judge agrees.

Just like anybody can sue to get Constitution of Malaysia changed. Whether Judge agrees with you that you are more important than Parliament is the question.


Posted by neohts > Oct 28, 2021 5:04 PM | Report Abuse

https://www.nst.com.my/business/2021/10/740452/no-reason-bursa-suspend...

"No reason for Bursa to suspend Serba Dinamik as review findings are unofficial"
28/10/2021 5:23 PM

Posted by kamirise360 > 2021-10-28 18:51 | Report Abuse

Let just wait for the official report.

Rumors can affects badly.

Lucky that the counter is under suspension

Posted by risekita8 > 2021-10-28 18:53 | Report Abuse

Surely they have their strategy

Posted by OpporturnityHunter > Oct 28, 2021 6:48 PM | Report Abuse

aiyoyo, Karem also buy but SD shares, price also drop loh. hehehehe, unless karem have fund to acquire 51 percent of total share loh, hehehehehe. Nay be Ishak got. he buy ppl sell, see how win loh
------------------------------------------------------------------------------------------------------------

DATU HAJI MOHIDIN BIN HAJI ISHAK on 28-Oct-2021 buy share at 0.325 price today

https://klse.i3investor.com/insider/director/9237/28-Oct-2021/161532_5...

why Datu Haji still buy Scib today when he also know to suspended....hehe

Posted by risekita8 > 2021-10-28 18:55 | Report Abuse

If not, the other sharks will grab all too

The biggest shark is EPF

Posted by yingzhe17 > 2021-10-28 18:55 | Report Abuse

Later Chairman might said Bursa is shoplot listing agency, move to HK for listing.

Stay tuned !

Posted by josephn > 2021-10-28 19:01 | Report Abuse

I think later chairman might said EPF is shoplot institution and investment banker are shoplot bank after they force selling their shares because Karim don't have integrity to keep his promise to release SIR on Oct21. Shoplot sharks will withdraw their support and let SD die alone.

Posted by i3lurker > 2021-10-28 19:02 | Report Abuse

why not move listing to China?

Hopefully they may shoot Company Directors and send deceased family the bill for the bullet.


Posted by yingzhe17 > Oct 28, 2021 6:55 PM | Report Abuse

Later Chairman might said Bursa is shoplot listing agency, move to HK for listing.

Stay tuned !

Posted by i3lurker > 2021-10-28 19:04 | Report Abuse

You left out the Shoplot Retail Buyers

and the Shoplot Macau Scammers at work in i3 forum

Posted by josephn > Oct 28, 2021 7:01 PM | Report Abuse

I think later chairman might said EPF is shoplot institution and investment banker are shoplot bank after they force selling their shares because Karim don't have integrity to keep his promise to release SIR on Oct21. Shoplot sharks will withdraw their support and let SD die alone.

Posted by piranha88 > 2021-10-28 19:09 | Report Abuse

Aiyah, 5 lots only

#Solomolo ........
DATU HAJI MOHIDIN BIN HAJI ISHAK on 28-Oct-2021 buy share at 0.325 price today

https://klse.i3investor.com/insider/director/9237/28-Oct-2021/161532_571133988.jsp

why Datu Haji still buy Scib today when he also know to suspended....hehe
.......
28/10/2021 6:38 PM #