Posted by InterFund® > 2021-11-08 15:58 |

Post removed.Why?

Posted by Markable > 2021-11-08 15:59 | Report Abuse

just publish the SIR when got it, then let Bursa reopen share market, market will justify your share price value. Legal action is not a good choice especially everything still in unknown stage

Posted by Depeche > 2021-11-08 16:03 | Report Abuse

Karim must clear the air..

Posted by Markable > 2021-11-08 16:03 | Report Abuse

I used to be have faith with SD, now if share market open, my first step is sell out all share to cut this shit

Posted by Aiw Siow > 2021-11-08 16:03 | Report Abuse

https://www.bursamalaysia.com/bm/market_information/announcements/company_announcement/announcement_details?ann_id=3207317

Posted by Aiw Siow > 2021-11-08 16:05 | Report Abuse

Serbadk 66666

Posted by linheng > 2021-11-08 16:07 | Report Abuse

Bursa kena this time. They think they are above the law. SIR in progress. How can they set a timeline if they are not doing the investigations

Posted by r2d288 > 2021-11-08 16:08 | Report Abuse

i like that, that's the way to show your power to SC. wish u good luck SD.

Posted by BstRspnsNnF > 2021-11-08 16:08 | Report Abuse

This is not popular but I agree 100% with SD from the beginning..

Posted by solomolo > 2021-11-08 16:12 | Report Abuse

whatsoever lah...as long suspension not until earlier february..it is okey to me...

Posted by Nikmon > 2021-11-08 16:12 | Report Abuse

if the M&A negotiation cancel ahead of due date, is the company should announce immediately of wait until the agreed nego due date....all material information should be announce...what happen to malaysia investor, so smart...shit....


linheng quoted Bursa kena this time. They think they are above the law. SIR in progress. How can they set a timeline if they are not doing the investigations

Posted by Zackmeiser > 2021-11-08 16:16 | Report Abuse

Popcorn times ahead. Karim bought 1Mil shares before suspension is rather suspect also.

Posted by Zackmeiser > 2021-11-08 16:19 | Report Abuse

Its like bank suing BNM cuz asking for more transparency on bonds/sukuk. Its abit weird but possible i guess. Pop pop.

Posted by alenac > 2021-11-08 16:22 | Report Abuse

Now sue Bursa, last time KPMG. Chef is not capable of doing business when you insist to sue everyone. Think you are always right. The so-called simple issues can be readily resolved statement thrown into the wind, cannot be immediately reported by EY? Why, Mr Shoplot Chairman?

Aiw Siow https://www.bursamalaysia.com/bm/market_information/announcements/comp...
08/11/2021 4:03 PM

Posted by hiddenJ > 2021-11-08 16:28 | Report Abuse

Why sue?
Coz he wants to PROCASTINATE something, so that those “good” things could be hide and disappear from the public sight

Posted by Markable > 2021-11-08 16:32 | Report Abuse

Originating Summons (OS) is one of the two modes in commencing a civil action. An action is commenced by an OS when (1) it is required by a statute or (2) a dispute, which is concerned with matters of law, is unlikely to be any substantial dispute of fact. An Originating Summons may be in Inter partes or Ex-parte of the Rules of Court.



OS is heard based on affidavits filed in support. OS cases are heard by registrars or judges in chambers or in open Court. A judicial decision is made by hearing the lawyers and assessing the affidavits filed either in support of or in opposition to the OS. Witnesses may be called to give testimony and pre-trial conferences may or may not be conducted.



An application can be made to convert an OS into a Writ at any stage of proceedings. Alternatively, the Registrar or Judge can decide to convert an OS into a Writ without any application from the parties. Once the decision to convert has been made, the steps relating to a Writ applies. The Registry will assign a new Suit Number to the proceedings and a pre-trial conference will be called for the service of the Statement of Claim.




Saman Pemula (OS) adalah salah satu daripada dua cara dalam memulakan tindakan sivil. Tindakan dimulakan oleh OS apabila (1) ia dikehendaki oleh statut atau (2) pertikaian, yang berkenaan dengan perkara undang-undang, tidak mungkin menjadi sebarang pertikaian fakta yang ketara. Saman Pemula mungkin dalam Inter partes atau Ex-parte Kaedah-Kaedah Mahkamah.



OS didengar berdasarkan afidavit yang difailkan sebagai sokongan. Kes OS didengar oleh pendaftar atau hakim di dalam kamar atau di Mahkamah terbuka. Keputusan kehakiman dibuat dengan mendengar peguam dan menilai afidavit yang difailkan sama ada menyokong atau menentang OS. Saksi boleh dipanggil untuk memberi keterangan dan persidangan pra-perbicaraan boleh dijalankan atau tidak.



Permohonan boleh dibuat untuk menukar OS kepada Writ pada mana-mana peringkat prosiding. Sebagai alternatif, Pendaftar atau Hakim boleh memutuskan untuk menukar OS kepada Writ tanpa sebarang permohonan daripada pihak-pihak. Setelah keputusan untuk menukar telah dibuat, langkah-langkah yang berkaitan dengan Writ terpakai. Pejabat Pendaftaran akan memberikan Nombor Saman baharu kepada prosiding dan persidangan pra-perbicaraan akan dipanggil untuk penyampaian Penyata Tuntutan.




原诉传票 (OS) 是提起民事诉讼的两种模式之一。当 (1) 法规要求或 (2) 与法律事项有关的争议不太可能是任何实质性的事实争议时，操作系统会启动诉讼。原诉传票可以是双方当事人或法院规则的单方当事人。



OS 根据提交支持的宣誓书进行审理。 OS 案件由书记官长或法官在内庭或公开法庭审理。司法决定是通过听取律师的意见并评估支持或反对 OS 的宣誓书做出的。证人可能会被传唤作证，审前会议可能会或可能不会举行。



可以在诉讼的任何阶段申请将操作系统转换为令状。或者，书记官长或法官可以决定将 OS 转换为令状，而无需各方提出任何申请。一旦做出转换决定，与令状相关的步骤即适用。书记官处将为诉讼程序分配一个新的诉讼编号，并将召开预审会议以送达索赔声明。

Posted by SinGor > 2021-11-08 16:37 | Report Abuse

Someone in this forum suggest Karim should sue Bursa...Guess what He thinks it is a Great Idea

Posted by Sslee > 2021-11-08 16:48 | Report Abuse

KPMG is shoplot auditor and now E&Y is not even an auditor?

The circumstances leading to the filing of the OS by SDHB is based on, inter alia, SDHB’s contention that the instruction given by Bursa dated 28.6.2021 and 2.7.2021 respectively to SDHB to appoint Ernst & Young Consulting Sdn Bhd as a special auditor to conduct a “Special Independent Review” made pursuant to paragraphs 2.23 and 2.24 of the Main Market Listing Requirements is in excess of Bursa’s power. It is also SDHB’s contention that Bursa’s instruction to SDHB dated 22.10.2021 to announce a “Factual Findings Update” made by Ernst & Young Consulting Sdn Bhd is also in excess of its power and ought to be declared as null and void.
SDHB contends that Bursa cannot exercise its power purportedly pursuant to paragraph 2.23 and 2.24 of MMLR in directing SDHB to appoint Ernst & Young Consulting Sdn Bhd as a special auditor to conduct a “Special Independent Review”:
a. There was no opinion by Bursa as to breach of any provision of the MMLR and no opinion of breach was notified to SDSB till to-date;
b. There was no opinion by Bursa that was notified to SDHB that a special independent review was necessary in any event;
c. Ernst & Young Consulting Sdn Bhd is not an auditor within the meaning of the “auditor” in the MMLR.

SDHB further contend that Bursa cannot exercise a purported power to:
a. direct SDHB to appoint a person who is not an auditor;
b. direct SDHB to announce any material prepared by a person who is not an auditor;
c. to direct an announcement on any material prepared by a person who is not obliged to follow any Auditing Standards or other Engagement Standards issued by the accounting and audit profession;
d. to direct an announcement on any material that is unlikely to satisfy paragraphs 9.03 and 9.35A of the Main Market Listing Requirement;
e. to direct an announcement of any “Factual Findings Update” which may or may not be used by the auditor of SDHB to form an audit opinion at the conclusion of the audit of SDHB’s financial statements.

Posted by Huangbk72 > 2021-11-08 16:49 | Report Abuse

No need to think so much...

For SD holders.. just count your total losses

For sideliners... just buy more popcorn and be prepared for a long long show.. no stamina, can just forget this drama.

No one fights against Bursa under MMLR and wins. Bursa are the regulators, they are the law enforcer.

So.. delisting is next.. unless SD backs down.

Pray hard they do.

Posted by superrr > 2021-11-08 16:50 | Report Abuse

Yeah great idea sue Bursa ? haha. .It seems like tenant can't pay rent wanted to sue shop owner....

Posted by superrr > 2021-11-08 16:53 | Report Abuse

It should be Bursa to sue sb.....

Posted by ǷearlꙌhite > 2021-11-08 16:57 | Report Abuse

.
Best quote ever. When someone says trust us, its a lie.

"In a WhatsApp message to The Edge last week, one executive says, “Trust us. We have done nothing wrong.”

https://www.theedgemarkets.com/article/serba-dinamik-and-bursa-malaysia-lock-horns
.

Posted by jeffchan1901 > 2021-11-08 16:58 | Report Abuse

did you know that anybody can sue anybody? question is can win or not? if not why sue? i was told that cases can drag for many years. guess who's paying for legal fees? guess who stands to lose if this drags on for few years?

Posted by GGecko > 2021-11-08 16:59 | Report Abuse

but it is the right move the way i c it, let the court decides. at least, karim got balls. i admire him for having it

Posted by ǷearlꙌhite > 2021-11-08 17:00 | Report Abuse

.
Actually you can. If you can have access to non-financial information, then you would be able to access the situation.

Can you tell when someone is lying?


While the drama plays on, Serba Dinamik’s minority shareholders are bound to be an anxious lot as they have no way to assess the true situation at the company.

https://www.theedgemarkets.com/article/serba-dinamik-and-bursa-malaysia-lock-horns.

Posted by Sslee > 2021-11-08 17:01 | Report Abuse

So now all listed companies annual financial account audited by E&Y should be nil and void since Serbadk said "Ernst & Young Consulting Sdn Bhd is not an auditor within the meaning of the “auditor” in the MMLR"

Posted by jeffchan1901 > 2021-11-08 17:04 | Report Abuse

in the end, the real losers are the retail investors.. no one else. big fund wont give 2 hoots, they just manage the fund and move on from losses. what about small retail investors? can they move on?

Posted by ken2004 > 2021-11-08 17:04 | Report Abuse

I feel like serba living in their own world thinking all the standards and rules non-existent to them, challenging the body that guarding the standards and rules after thinking they are smarter than the auditor?

Posted by solomolo > 2021-11-08 17:06 | Report Abuse

Serbadk sue Bursa Malaysia means like sue Kerajaan Malaysia loh.....Kerajaan Malaysia have lot a money loh...haha

Posted by vcinvestor > 2021-11-08 17:07 | Report Abuse

@SSlee, EY Consulting is a separate entity from the EY auditor. the EY auditor is a partnership,whereas EY Consulting is a separate limited liability company where the consulting partners are directors. This is the normal arrangement for the Big4 auditors to keep the auditing and consulting biz separate to avoid conflicts of interest

Posted by vcinvestor > 2021-11-08 17:10 | Report Abuse

btw can I just point out how ridiculous this summons against Bursa is? Serba is announcing (on bursa's platform) that it is challenging its suspension from Bursa's platform (Bursa being a private company which allows other companies to list on it for a fee) on the basis that it does not have the authority to do so (despite Bursa's MMLR stating that it determines the terms and conditions for any company being allowed to list on its platform). Digest that.

Posted by Markable > 2021-11-08 17:11 | Report Abuse

Yes, i am in tremendous anxious now.


Quoted from the-edge-markets
While the drama plays on, Serba Dinamik’s minority shareholders are bound to be an anxious lot as they have no way to assess the true situation at the company.

Posted by izoklse > 2021-11-08 17:12 | Report Abuse

Serba Dinamik takes legal action against Bursa

KUALA LUMPUR: Serba Dinamik Holding Bhd has filed an originating summons at the High Court against Bursa Malaysia Securities Bhd to appoint Ernst & Young Consulting Sdn Bhd as a special auditor to conduct a “special independent review” is in excess of power, null and void and of no effect.

In a filing with Bursa on Monday the originating summons was to declare the orders given by Bursa Bursa dated June 28 and July 2, under paragraphs 2.23 and 2.24 of the Main Market Listing Requirements (MMLR) is in excess of power, null and void and of no effect.

Serba Dinamik also sough a declaration that the instruction given by Bursa to the company dated Oct 22, to announce a “Factual Findings Update” made by Ernst & Young Consulting Sdn Bhd is in excess of power, null and void and of no effect.

The company also sought a declaration that Bursa had failed to comply with paragraph 2.24 of the MMLR.

It also sought a declaration that Bursa has no power to instruct and/or direct Serba Dinamik to take any steps, action and/or engage in any conduct which may contravene or otherwise may not comply with MMLR 9.03.

Serb DInamik also sought a declaration that Bursa has no power to instruct and/or direct Sime Darby to take any steps, action and/or engage in any conduct which may contravene or otherwise may not comply with MMLR 9.35A.

It added it was also seeking a declaration that Bursa’s conduct and/or action on Oct 22 in suspending the trading of the securities of Sime Darby listed on the Main Market of Bursa under stock code 5279 and 5279WA is in excess of power, null and void and of no effect.

Posted by Layman2020 > 2021-11-08 17:13 | Report Abuse

Every authorities and businesses runs by human like you and me. Malays, Chinese , Indian or other minority races, we all tends to make mistake, wrong judgement in life. What made some of them so special like God, never wrong doing? look around your friends, i bet many are auditor too, they also normal person, graduated from Uni , Never be so confident on one side story when the water still blurry.

Posted by solomolo > 2021-11-08 17:16 | Report Abuse

..........

Tokoh penting Bursa Malaysia

Abdul Wahid Omar (Pengerusi)
Muhamad Umar Swifti (CEO)

see who will be the scapegoat in this case

........

Posted by Wirajati > 2021-11-08 17:16 | Report Abuse

Bau. Ekeke. Sd style

Posted by kamli3 > 2021-11-08 17:18 | Report Abuse

Ha ha

Now SB is saying that E&Y are also shoplot auditor.
Because E&Y find the same problems.

Posted by leno > 2021-11-08 17:19 | Report Abuse

last time while u all debating SIR will come out good or bad,
only leno say there will be no voluntarily release of SIR by sebak.

Posted by Sslee > 2021-11-08 17:20 | Report Abuse

TQVM for the explanation.

Posted by vcinvestor > Nov 8, 2021 5:07 PM | Report Abuse

@SSlee, EY Consulting is a separate entity from the EY auditor. the EY auditor is a partnership,whereas EY Consulting is a separate limited liability company where the consulting partners are directors. This is the normal arrangement for the Big4 auditors to keep the auditing and consulting biz separate to avoid conflicts of interest

Posted by solomolo > 2021-11-08 17:21 | Report Abuse

when your superiors start interfering ... you know what will happen loh..maybe this is a karim strategy ... want superiors to intervene....haha

Posted by shpg22 > 2021-11-08 17:22 | Report Abuse

Kasi chance karim la

Posted by Wirajati > 2021-11-08 17:24 | Report Abuse

In the end, promoter will say, its your money burned or not, keep trusting Sd , a dividend paying counter, 18 biliions sale, 18 times profitable quarter, sarawak play. Well, u cant do anything at all these 2 weeks. Ekeke

Posted by Sslee > 2021-11-08 17:25 | Report Abuse

So after so many months of SIR now only saying:

Ernst & Young Consulting Sdn Bhd is not an auditor within the meaning of the “auditor” in the MMLR.

SDHB further contend that Bursa cannot exercise a purported power to:
a. direct SDHB to appoint a person who is not an auditor;
b. direct SDHB to announce any material prepared by a person who is not an auditor;
c. to direct an announcement on any material prepared by a person who is not obliged to follow any Auditing Standards or other Engagement Standards issued by the accounting and audit profession;
d. to direct an announcement on any material that is unlikely to satisfy paragraphs 9.03 and 9.35A of the Main Market Listing Requirement;
e. to direct an announcement of any “Factual Findings Update” which may or may not be used by the auditor of SDHB to form an audit opinion at the conclusion of the audit of SDHB’s financial statements.

Posted by Prudentinv > 2021-11-08 17:28 | Report Abuse

It looks like some kind of sabotage game here.

Posted by Markable > 2021-11-08 17:29 | Report Abuse

Hope SD know what they are doing now, even if Bursa open back SD share, it will jump down another half or more, and more Force Selling drama will come.

Posted by leno > 2021-11-08 17:29 | Report Abuse

Anyway,
Sebak is closing shop this month
because unable to service their debt.
Bursa will delist Sebak.
And shareholders can settle anything personally with Karam.

This is share market.
U don't follow rule, bursa kick u out.
That is all Bursa will do.
Nothing more than that.

Why ?
U think Bursa will make police report ?
HAHAHAHAHAHAHAHHAHAHAH !!

Ask Sslee.
True or not.

Posted by cn21 > 2021-11-08 17:30 | Report Abuse

Sue auditor.....sue Bursa.....blame SIR auditor....Very soon, banks and institutional investors will abandon SD..........

Posted by amateurJR > 2021-11-08 17:31 | Report Abuse

Karim and his company is a real irresponsible joker. Keep blaming others except themselves.

Posted by bri4n_Loo > 2021-11-08 17:34 | Report Abuse

where is that WEALTHARCHIT3CT? the Brainless DAVID TONGSAMPAH , the EDWIN DOCTOR? SECOND TIME LEAD PEOPLE TO HOLLAND!!!

Posted by InterFund® > 2021-11-08 17:42 | Report Abuse

First in Malaysia history sue Bursa....................... Hahahahaha.............................