Posted by Stockisnotfun > 2021-11-09 18:11 | Report Abuse

The court there got live one? Want to see how Serbadk fight with bursa. This Thursday stay tuned

Posted by Depeche > 2021-11-09 18:14 | Report Abuse

Exciting October was non eventful... now it's suspenseful Movember...will SIR and AR be out at the same time? Or just AR and no SIR

Posted by Huangbk72 > 2021-11-09 18:18 | Report Abuse

Epf has left SD.. they don’t care

As long as audit issue exists.. only retailers will put in money

To wait for court decision… prepared to wait years and years and years

My money is on this suit gets thrown out by court.

And SD delisted

Posted by Wirajati > 2021-11-09 18:21 | Report Abuse

If u really read the prescribed act, bursa has wide power to instruct listed issuers on many things...it is house rules. Court will not interfere as other bourses e.g. SGX also has their own rules. Summon? Can. Win? Well that is very hard. Remember, it is house rules n bursa has wide power under various circulars, guides so on and so forth. When SD really win against Bursa, you can call me a school boy la if you wish. Ekeke

Posted by solomolo > 2021-11-09 18:24 | Report Abuse

so bursa no need to worry lah if following the prescribed act ... that's all

Posted by Wirajati > 2021-11-09 18:26 | Report Abuse

Worry? Not even 1%, ...SD on the other hand is worry, now rated CCC. suggestion? Go summon fitch. They got money ekeke

Posted by Huangbk72 > 2021-11-09 18:28 | Report Abuse

@Wirajati

That’s why we call them He-man

Posted by solomolo > 2021-11-09 18:28 | Report Abuse

u says no worried..not bursa say loh...hehe

Posted by Huangbk72 > 2021-11-09 18:29 | Report Abuse

Bursa is never worried. Why should they?

SD is going in hand to hand fight with Bursa armed with a plastic stick… Bursa has He-man sword.

Hahaha.:

Funny to even think that Bursa is worried

Posted by Nikmon > 2021-11-09 18:31 | Report Abuse

Karim vs KPMG, report audit red flags to authority.
Karim vs ex risk director, violence
Karim vs Bursar, release SIR
Karim vs EY, want to throw SIR

Lol, this company is clean?

Posted by Wirajati > 2021-11-09 18:31 | Report Abuse

Of course my own word la, see how bursa reacted? Come la, summon us, and see how it goes. don't you read?

Posted by Wirajati > 2021-11-09 18:39 | Report Abuse

Huangbk72,

Kesian. With kpmg also not yet win, now dreaming of bursa getting worried. Funny.

Everything from SD. Confirm win. Today still suspended. Bursa worried? Ekeke.

Posted by Stockisnotfun > 2021-11-09 19:09 | Report Abuse

KPMG don't even bother to entertain this small company

Posted by jeffchan1901 > 2021-11-09 19:16 | Report Abuse

this is a test case. you think court will give landmark ruling? not impossible but very unlikely

Posted by superrr > 2021-11-09 19:34 | Report Abuse

Do u think if you can't report your A/C to income tax, Income tax department will worry ? nonsense hahaha


---------------------
solomolo u says no worried..not bursa say loh...hehe

Posted by solomolo > 2021-11-09 19:38 | Report Abuse

why u need argue about worried?,,really dont understand loh...why so worry about worried? loh...haiyoo...haha..changes topic lah...hehe

Posted by superrr > 2021-11-09 19:38 | Report Abuse

Sue KPMG, ex risk director, violence
Sue ex director
Sue Bursar,
Sue EY,
Sue bilis ?
Sue solomolo ?

Posted by SHQuah > 2021-11-09 19:45 | Report Abuse

Kpower very powerful. SCIB going to open very strong after AR and QR. Serbadk AR and QR is almost ready.

Posted by superrr > 2021-11-09 19:45 | Report Abuse

That is because y have been talking about it, non of others. Karodon may be upset if y haven't done it well for your promotion job, will cut your wages....hahaha

Posted by Wirajati > 2021-11-09 19:49 | Report Abuse

I guess "almost" ready is under the definition of inconclusive...hihi

Posted by amet2017 > 2021-11-09 19:51 | Report Abuse

Somebody must have lost big in this counter. Pity.. Just use it as experience for future investing and trading

Posted by superrr > 2021-11-09 19:53 | Report Abuse

Are u sure karim is a Chinese ? I don't think so...haha why u called (chiapek ? you are not Chinese or Japanese ?

---------------------------



Posted by InterFund® > Nov 9, 2021 4:33 PM | Report Abuse

Karim is a chinese................... His real name is Sii Chiong Wei.................... Look it up.................... Everytime cinapek business man you need to be careful.......................
09/11/2021 4:39 PM

Posted by superrr > 2021-11-09 19:55 | Report Abuse

Sing song sing song Chinese ? u

Posted by Jenny > 2021-11-09 19:57 | Report Abuse

昨天的文稿已经很明显告诉你serbadk 不爽bursa 硬生生的要E&Y做这个独立审查报告，10月中的一次会议已经有结果了，而那个结果是对serbadk非常 不利的。所以就算违抗bursa 指令serbadk也不要公布出来。现在就是要从上市条约里面找灰色地带来控告bursa 越权来推翻所有的委任和报告。之前serbadk 为什么要撤退kpmg 就是不要它在继续在那些有问题的账户纠缠。然后再委任其他比较听话的审计公司来做审查。但是，人算不如天算，没想到bursa 很强硬所以就硬着头皮给E&Y 接手！！！！！

其实，纸是保不住火的。Serbadk 现在做这么多小动作已经不能再补救了，只能拖时间罢了。

Posted by superrr > 2021-11-09 20:06 | Report Abuse

這叫死馬當活馬醫

Posted by Michaelphlee > 2021-11-09 20:06 | Report Abuse

Karim should be focussing on expeditiously complete and publish the results. Why waste time and money to argue your case in Court? He need to think and act wisely. Do not give in to frustrations. You are just knocking your head against the concrete wall….

Posted by superrr > 2021-11-09 20:11 | Report Abuse

This is called D rushing over the wall...no way out..

Posted by Johnson Wong > 2021-11-09 20:18 | Report Abuse

Who audit 1MDB?

Posted by kamirise360 > 2021-11-09 20:22 | Report Abuse

Serba Dinamik challenges Bursa in court - save malaysia! | I3investor


Serba Dinamik challenges Bursa in court
Author: savemalaysia Publish date: Mon, 8 Nov 2021, 4:54 PM

KUALA LUMPUR (Nov 8): Serba Dinamik Holdings Bhd has filed an originating summons (OS) against Bursa Malaysia Securities to challenge the stock exchange's directives concerning the appointment of a special auditor to conduct a special independent review and the disclosure of the findings of the review, arguing that they are in excess of Bursa's powers.

The originating summons was filed last Wednesday (Nov 3) in the Kuala Lumpur High Court, according to Serba Dinamik’s filing with the local bourse on Monday.

“The circumstances leading to the filing of the OS by SDHB (Serba Dinamik) are based on, inter alia, SDHB’s contention that the instructions given by Bursa dated June 28, 2021 and July 2, 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 were in excess of Bursa’s powers.

“It is also SDHB’s contention that Bursa’s instruction to SDHB dated Oct 22, 2021 to announce a 'factual findings update' made by Ernst & Young Consulting Sdn Bhd was also in excess of its powers and ought to be declared as null and void,” according to the group.



https://www.theedgemarkets.com/article/serba-dinamik-challenges-bursa-courtSerba Dinamik challenges Bursa in court - save malaysia! | I3investor

Posted by risekita8 > 2021-11-09 20:24 | Report Abuse

It may take times then

Posted by vitac > Nov 9, 2021 5:58 PM | Report Abuse

wait court order, so until when months or years...

Posted by risekita8 > 2021-11-09 20:25 | Report Abuse

Company Brief
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 in excess of power, null and void and of no effect. The originating summons was to declare the orders given by Bursa dated 28th June 2021 and 2nd July 2021, under paragraphs 2.23 and 2.24 of the Main Market Listing Requirements (MMLR). (The Star)

Posted by ǷearlꙌhite > 2021-11-09 20:39 | Report Abuse

.
It is a pity that SD's shares were suspended. A lot of foreign funds were buying in to support SD and CEO Karim. Well, one's loss is another one's gain.

https://www.bursamarketplace.com/mkt/themarket/stock/SERB/ownership

As can be seen (as what I disclosed on 25th October 2021), Public Mutual has sold off and in place was Blackrock buying in again.

Just as a reminder, as confirmed from research houses, the following hold the % in SD.

PNB - 6.2%
EPF 5.0%

https://klse.i3investor.com/servlets/staticfile/438915.jsp - Kenanga Research
https://klse.i3investor.com/servlets/staticfile/438945.jsp - PB Invest

Accordingly, the shareholding persons/entities in SD updated @ COB 31/10/2021

Name % Shareholdings

Mohd Abdul Karim bin Abdullah 21.2
Abdul Kadier bin Sahib 16.25
Unknown Shareholder 1 * 8.80
Unknown Shareholder 2 * 4.62
Employees Provident Fund Board 4.97
Kumpulan Wang Persaraan (Diperbadankan) 4.53
Permodalan Nasional Berhad (PNB) 6.20
State Financial Secretary, Sarawak 3.38
SBB Dana Al-lhsan 1.45
Lembaga Tabung Haji 1.39
Other Institutional Funds (Minimum 2m shares) 3.50
Other Mutual Funds (More than 2m shares holdings) 7.92
Estimated Intitutional & Mutual Funds (Less than 2m shares holdings) 0.50
Retail Investors (Balance) 15.29
Total Shareholdings 100.00

* Suspected Person, Group, Provident Fund
Note : Retail Investors (Balance) holds about (‘billion) 0.5

Summary

Founder Shares - 37.45%
Government Related Funds - 32.5%
Institutional & Mutual Funds - 14.76%
Retail Investors (Balance) - 15.29%
.

Posted by Layman2020 > 2021-11-09 20:44 | Report Abuse

Thanks , this source trusted? If true then others saying EPF and institution sold off all is simply bluffing. So bad liar

Posted by i3lurker > 2021-11-09 20:49 | Report Abuse

its like science fiction
they must make sure the "Nightmare on Serba Street" had never been born

does that suggest something about how "material" SIR is?

=> if SIR is not material it means nothing to release whatever "Factual Findings Update" immediately
=> if SIR is not material it costs nothing to release whatever "Factual Findings Update"
immediately







kamirise360 They surely cannot just simply delete the order


bobochacha
466 posts
Posted by bobochacha > Nov 9, 2021 3:49 PM | Report Abuse

if no SIR conducted, all this trouble wont be here. so they go back to the root cause, delete the SIR
09/11/2021 5:34 PM

Posted by alenac > 2021-11-09 21:00 | Report Abuse

Not the time to talk about shareholdings. It is over. Whoever holding Serbak shares are in distress. Zero value.

Posted by Layman2020 > Nov 9, 2021 8:44 PM | Report Abuse

Thanks , this source trusted? If true then others saying EPF and institution sold off all is simply bluffing. So bad liar

Posted by ǷearlꙌhite > 2021-11-09 21:03 | Report Abuse

.
Today is 9th November 2021. SD has to issue AR 2020 latest on 30th November 2021.

In reality, by now, the AR 2021 have been completed and copy-writed. Registrars have to start preparing to send out the AGM/EGM mailers and also rush to complete the CDs to be sent out together.

Which means, Nexia's opinion has been given to the SD's FS 2020.

Of course, there will be those who would refer to the Chairman's press conference in June 2021, and would claim that Nexia was induced by SD (since SD pays for the audit) to issue an unqualified report which is true and fair and a SD being a going concern entity.
.

Posted by abcb > 2021-11-09 21:04 | Report Abuse

SERBADK (5279) fighting with Bursa(1818)
Who is the winner?

Posted by ǷearlꙌhite > 2021-11-09 21:04 | Report Abuse

.
To be honest, the SIR doesn't really matter anymore. Because, SD can release the Annual Report 2020 now if they want.

What this means is that Nexia has given their opinion on the FS for 2020.

The only saving grace for Bursa/EY, is for them to make sure that all their findings are correct and is consistent with the Nexia's opinion.

The so-called updated on 30th September 2021 strongly suggests that the conclusions are consistent with Nexia's opinion.

However, asking more clarifications from SD is very prudent of them, just in case if anyone questions and does not accept the conclusions of the SIR in future (which I am sure will be many and represents 80% of the participants here) and decides to make complaints to the authorities and/or take legal action.


Markable Yes, EY also mentioned there is few more "issue" need further clarify and surely it need more time, and SD boss wanted to uplift the suspension asap to avoid further "market untrust" of SD share.

Personally thinking, releasing SIR much much more important and gain back the trust from market. I no want everyday guessing this and that, tired.

Posted by i3lurker > 2021-11-09 21:23 | Report Abuse

Bursa has unlimited powers provided under Sections 1.02A, 2.19, and 2.26
There can be no abuse of power if Bursa has unlimited powers




Wirajati If u really read the prescribed act, bursa has wide power to instruct listed issuers on many things...it is house rules. Court will not interfere as other bourses e.g. SGX also has their own rules. Summon? Can. Win? Well that is very hard. Remember, it is house rules n bursa has wide power under various circulars, guides so on and so forth. When SD really win against Bursa, you can call me a school boy la if you wish. Ekeke
09/11/2021 6:21 PM

Posted by i3lurker > 2021-11-09 21:34 | Report Abuse

if SIR is not material it means nothing to release whatever "Factual Findings Update" immediately

Posted by PSAi3alert > 2021-11-09 21:54 | Report Abuse

i3lurker,

Serba's argument is not about the "materiality" of the Factual Findings Update (FFU).

They saying 16.14 does not contain the phrase 'Factual Findings Update' and as such Bursa will not have the power to obtain documents.


16.14 Power to obtain documents

The Exchange may, for investigation purposes:-

(a) by notice in writing require an applicant, a listed issuer, management company, trustee or its directors, officers, employees, or advisers, or any other person to whom these Requirements are directed, to produce for inspection any documents, books, papers, registers, records or accounts (whether recorded in documentary or electronic form) (referred to collectively as "Information" in this Part D) that are held by the person concerned or to which the person concerned has control or access over;

(b) inspect and make copies of, or take notes from, such information;

(c) retain such information for such periods as the Exchange deems fit; or

(d) disclose or forward such information to such authorities as the Exchange deems fit.


i3lurker if SIR is not material it means nothing to release whatever "Factual Findings Update" immediately
09/11/2021 9:34 PM

Posted by Huangbk72 > 2021-11-09 21:57 | Report Abuse

He-Man always win

Period

Posted by PSAi3alert > 2021-11-09 22:00 | Report Abuse

He-Man has yet to act.

Coming soon...


Huangbk72 He-Man always win

Period
09/11/2021 9:57 PM

Posted by Mabel > 2021-11-09 22:00 | Report Abuse

Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD

Nov 9, 2021 8:39 PM | Report Abuse

It is a pity that SD's shares were suspended. A lot of foreign funds were buying in to support SD and CEO Karim. Well, one's loss is another one's gain.

https://www.bursamarketplace.com/mkt/themarket/stock/SERB/ownership

As can be seen (as what I disclosed on 25th October 2021), Public Mutual has sold off and in place was Blackrock buying in again.

Just as a reminder, as confirmed from research houses, the following hold the % in SD.

PNB - 6.2%
EPF 5.0%

https://klse.i3investor.com/servlets/staticfile/438915.jsp - Kenanga Research
https://klse.i3investor.com/servlets/staticfile/438945.jsp - PB Invest

Accordingly, the shareholding persons/entities in SD updated @ COB 31/10/2021

Name % Shareholdings

Mohd Abdul Karim bin Abdullah 21.2
Abdul Kadier bin Sahib 16.25
Unknown Shareholder 1 * 8.80
Unknown Shareholder 2 * 4.62
Employees Provident Fund Board 4.97
Kumpulan Wang Persaraan (Diperbadankan) 4.53
Permodalan Nasional Berhad (PNB) 6.20
State Financial Secretary, Sarawak 3.38
SBB Dana Al-lhsan 1.45
Lembaga Tabung Haji 1.39
Other Institutional Funds (Minimum 2m shares) 3.50
Other Mutual Funds (More than 2m shares holdings) 7.92
Estimated Intitutional & Mutual Funds (Less than 2m shares holdings) 0.50
Retail Investors (Balance) 15.29
Total Shareholdings 100.00

* Suspected Person, Group, Provident Fund
Note : Retail Investors (Balance) holds about (‘billion) 0.5

Summary

Founder Shares - 37.45%
Government Related Funds - 32.5%
Institutional & Mutual Funds - 14.76%
Retail Investors (Balance) - 15.29%

Thank you Snow White for sharing with us the latest update on Serba.

Here are Mabel’s take away after reading Snow White latest revelations

1. Absolutely! One's loss is another one's gain. This is where Mabel think those that already bought just stay calm and wait..

2. Do you know that BlackRock and Vanguard control a combined $3.8tn of the $7tn global ETF market. BlackRock the world’s largest asset manager, is now the No. 1 recipient of global fund inflows, replacing Vanguard. These two World's Best are still holding Serba's shares. We have with us BlackRock and Vanguard who are 5 Star Investors. You won’t go wrong!

3. It very reassuring to see that our two powerhouse PNB and EPF are still with us .

4. Based on Summary Holding with Retailer holding 15.29% what we discuss here does not make any difference. Stay focus on what the silence the majority are doing. Since Karim and Foreign Funds are still buying before the suspension, that should give you a strong indication what to do when the suspension is up lifted.

5. Mabel also think that SD is on target to issue AR 2020 latest on 30th November 2021. So by now, the AR 2021 have been completed and copy-writed. Registrars have to start preparing to send out the AGM/EGM mailers and also rush to complete the CDs to be sent out together.

6. Hence, the SIR doesn't really matter anymore. Because, SD can release the Annual Report 2020 now if they want. EY also mentioned there is few more "issue" need further clarify and surely it need more time, and SD boss wanted to uplift the suspension asap to avoid further "market untrust" of SD share. So just let our Boys in Serba do their job.

Summing up: The big picture is what matters

Long-term investors, don't care much about the short-term developments that push stock prices up and down each trading day. When you have many years to let your money grow, things such as analyst upgrades and earnings beats are irrelevant. What matters is where a company will be two to three years from now. That's why Mabel just stick to i3 Target Price..

While a lot of ink is spilled about daily fluctuations in stock prices, and while many people try to profit from those short-term moves, long-term investors should be laser-focused on a company's potential to increase its profits over many years. Ultimately, it's rising profits that push stock prices higher. So stay focus on the end game and ignore the noises.

When it is raining, just look at the brighter side as there's rainbow everywhere.Since last week all Mabel Armada Fleets of Battleships, Supertankers and Jet Fighters were cruising full speed with abundance of Fossil Fuel and Biofuel Supply to serve them to fly even to the moon. These Armada Fleets of fighters will be supported with Mabel's High Techs Missiles. Friday was a Fantastic day for all Techs. Mabel's Techs collection like MPI, Greatech, Vitrox, Inari, Penta etc were doing well. Mabel's collection in Wall Streets did even better as last night Dow Jones and Nasdaq continue to hit all times at 36,500 and 15,991 respectively.

Just set your auto cruise in this Spaceship to RM 1.22.

Turn off the lights, take a deep breath....

Relax...

https://www.youtube.com/watch?v=T2YLLlHPO0g

Good night everyone. As usual, Mabel will sleep like a Baby...

Meow

Posted by i3lurker > 2021-11-09 22:04 | Report Abuse

I like the way this sounds

:)

Sounds like a kindergarden English Lesson......

also how FFU sounds





PSAi3alert i3lurker,

Serba's argument is not about the "materiality" of the Factual Findings Update (FFU).

They saying 16.14 does not contain the phrase 'Factual Findings Update' and as such Bursa will not have the power to obtain documents.

Posted by IdleMoney66 > 2021-11-09 22:07 | Report Abuse

Why I cant see BlackRock is on the list?

Posted by solomolo > 2021-11-09 22:09 | Report Abuse

.........

Bursa Penguatkuasaan Syarat-syarat Penyenaraian

https://www.bursamalaysia.com/bm/regulation/about_bursa_malaysia_regulatory/enforcement/key_enforcement_cases/enforcement_of_listing_requirements


........................

Posted by PSAi3alert > 2021-11-09 22:22 | Report Abuse

FFU sounds more powerful.

Like DDOS. Not just DOS.


i3lurker I like the way this sounds

:)

Sounds like a kindergarden English Lesson......

also how FFU sounds



PSAi3alert i3lurker,

Serba's argument is not about the "materiality" of the Factual Findings Update (FFU).

They saying 16.14 does not contain the phrase 'Factual Findings Update' and as such Bursa will not have the power to obtain documents.
09/11/2021 10:04 PM

Posted by zoizai > 2021-11-09 22:23 |

Post removed.Why?

Posted by PSAi3alert > 2021-11-09 22:26 | Report Abuse

Fleets of Battleships, Supertankers and Jet Fighters of Fake Uncollectable (FU) Receivables:

Process Dynamics
Pavilion Qatar Engineering Co. W. L.L
Halul Offshore Services Company WLL
New Thunder Technical Services
Block 7
Future Digital Data Systems LLC
Lata International Trading and Services
Regno International Trading & Services W.L.L
Midad Industrial Services
PT Pilar Bahtera Energi
Revenue International LLC
Sufini Holdings Ltd
Captiv Techno Solutions Private Limited
Analog and Digital Labs India Private Limited
Hazarasp Chlor Alkali LLC FC
Nam Taep 1,2,3 Hydropower Co Ltd
Hydro Village Private Ltd

Sleep like a baby. Life is beautiful.