Posted by investorbat > 2021-11-10 19:02 | Report Abuse

If 2 legal processes on going,guess when to resume trading,2 years? 3 or 4?

Posted by leno > 2021-11-10 19:02 | Report Abuse

Sebak defaulted the bond payment yesterday.
Therefore, this month Sebak will CLOSE SHOP.
PERMANENTLY.

Posted by bojed > 2021-11-10 19:03 | Report Abuse

Almost 15 years of dwelving in laws, regulations, compliance, SOP and whatnot, you can almost always see things like this right off the bat LOL!

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bojed This OS looks more like finding a way to be discharged due to technicality rather than upholding the truth.
09/11/2021 8:19 AM

Posted by INV3ST0R > 2021-11-10 19:04 | Report Abuse

lol this is so dumb it's funny.

NEVER TRUST ANYONE WITH PhD FROM DEGREE MILL LOL!!!

Posted by Stockisnotfun > 2021-11-10 19:05 | Report Abuse

Let's think who's the next auditor after EY is better? The remaining two of big four auditor still got who

Posted by BobAxelrod > 2021-11-10 19:07 | Report Abuse

Those remaining International Auditors have already abstained from the job....LOL

Posted by Mabel > 2021-11-10 19:12 | Report Abuse

Here's a nice beautiful song to all my Serba lovers here..

Oh-hoh-hoh-hoah
Oh-hoh-hoh-hoah
Oh-hoh-hoh-hoah
Oh-hoh-hoh-hoah

Everybody was a kung-fu fighting
Those cats were fast as lightning
In fact it was a little bit frightening
But they fought with expert timing

Oh-hoh-hoh-hoh, ha
Oh-hoh-hoh-hoh, ha
Oh-hoh-hoh-hoh-ha

Keep on, keep on, keep on

https://www.youtube.com/watch?v=bmfudW7rbG0

Posted by yingzhe17 > 2021-11-10 19:12 | Report Abuse

They will end up with shop lot auditors

Posted by leno > 2021-11-10 19:14 | Report Abuse

Waiting for Persatuan Sebak to come out to say
- We will defend Sebak from being take over by outsider.
They must be referring to Alien from outer space, i believe.

Posted by Syndicates > 2021-11-10 19:17 | Report Abuse

Thanks for entertaining us in this boring market, best joke for the year so far. I wonder when is SC's turn?

Posted by sihamlala > 2021-11-10 19:18 | Report Abuse

With Shafie no problem... look at bijan

Posted by IdleMoney66 > 2021-11-10 19:20 | Report Abuse

Hopeless Serba....

Posted by value_seeker > 2021-11-10 19:20 | Report Abuse

The story of Bursa this year. Serbak the company since May 2021 is getting a lot of headwind. How can a company that show such a good results and revenues fall into disdain. Sadly the near future news will get worse and worse. Fighting against all will be futile.

Posted by Kays > 2021-11-10 19:21 | Report Abuse

Hahaha, now giving summon to EY! EY must be smacking their head to the wall, “why the F we agreed to take this job”

Posted by IdleMoney66 > 2021-11-10 19:23 | Report Abuse

I giving up on serba...ok my money get burnt now

Posted by JJchan > 2021-11-10 19:23 | Report Abuse

What Karim doing now send Chill down my spine. He is protecting himself only. He has no respect
of other investors and poor ikan bilis----It will ends in the worst possible outcome

Posted by IdleMoney66 > 2021-11-10 19:24 | Report Abuse

If fraud, i Hope they go to jail

Posted by INV3ST0R > 2021-11-10 19:26 | Report Abuse

XD XD XD

come on guys! have some sympathy, it's very unfortunate for SD to get sabotaged by 2 shoplot auditors lol!

Posted by questionmark > 2021-11-10 19:28 | Report Abuse

after this serba sue malaysia government then sue UAE government

Posted by Bon888 > 2021-11-10 19:31 | Report Abuse

Omg Mabel you an old cat. At least 60 years old?

Posted by solomolo > 2021-11-10 19:35 | Report Abuse

hai mabel...haha

CIRCUMSTANCES LEADING TO THE OS

The circumstances leading to the filing of the OS by SDHB is based on, inter alia, SDHB’s
contention that the appointment of EY Consulting 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 was void ab initio:

a) EY Consulting is not registered with the Audit Oversight Board;

b) EY Consulting is not an auditor whether as defined in the Main Market Listing
Requirements or the Companies Act 2016



https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3208204

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

Posted by Huangbk72 > 2021-11-10 19:37 | Report Abuse

Wonder if fake CEO will come up with a new proposal now since he has been wrong all along.. hahahha

Positive SIR my foot..... also that sampan master comment..

These people just know nuts about corporate investing yet talk like experts... all proven wrong..

Just get used to 100% loss in SD.. it will be delisted

Posted by Kakume > 2021-11-10 19:37 | Report Abuse

Serba now is the fearless top gangster in Malaysia, after this will sue SC and then All the shareholder also kene sue for holding their share.. LOL

Posted by value_seeker > 2021-11-10 19:38 | Report Abuse

Honesty- you know what you are talking? Those who buy high and stuck now can look for you to seek compensation?

Posted by RJ87 > 2021-11-10 19:41 | Report Abuse

Auditor is to find out if you are full of sh*t. And if you are full of sh*t, your job is to hide your pile of sh*t.

Like this where to find auditor that has no conflict of interest?
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Stockisnotfun Nexia will resign or not. Not sure. Depends their audit result. Good no sue. No good sue until u kao kao and automatically resign.

At this case, kpmg and serbadk both forcefully resign due to conflict self interest. No need whatever EGM la. They don't care what shareholders think. They help u replace the auditor themselves.

Just now who say drag longer is better. Ya is definitely better because they can try on many auditor.
10/11/2021 7:00 PM

Posted by RJ87 > 2021-11-10 19:42 | Report Abuse

New income stream for serba. Part of serba's asset growth strategy is to keep suing auditors. =D

Posted by superrr > 2021-11-10 19:45 | Report Abuse

Mabel of course is over 60 ,her admired star is Chow yun fat which is about same age as her..
no wonder non stop long winded with long articles...feel very lonely.

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


Bon888 Omg Mabel you an old cat. At least 60 years old?

Posted by i3lurker > 2021-11-10 19:49 | Report Abuse

18 y/o Sarong Padi Girl has totally no idea who is Chow Yun Fatt

sounds like a fried mee "Chow" or maybe hair saloon "Fatt"

or maybe is a massage parlour or a restaurant or even a nite club...





Posted by superrr > Nov 10, 2021 7:45 PM | Report Abuse

Mabel of course is over 60 ,her admired star is Chow yun fat which is about same age as her..
no wonder non stop long winded with long articles...feel very lonely.

Posted by Sslee > 2021-11-10 19:49 | Report Abuse

What is listed companies Whistleblower Policy?
Should auditor, director, employee or anyone with knowledge of coorporate wrong doing is obliged to report the wrongdoing to Bursa/SC?

Posted by alieyasmart > 2021-11-10 19:53 | Report Abuse

Maybe Nexia will take this SD task as a challenge for its portfolio

Posted by Stockisnotfun > Nov 10, 2021 7:00 PM | Report Abuse

Nexia will resign or not. Not sure. Depends their audit result. Good no sue. No good sue until u kao kao and automatically resign.

At this case, kpmg and serbadk both forcefully resign due to conflict self interest. No need whatever EGM la. They don't care what shareholders think. They help u replace the auditor themselves.

Just now who say drag longer is better. Ya is definitely better because they can try on many auditor.

Posted by themeg > 2021-11-10 19:54 |

Post removed.Why?

Posted by wolfbroker > 2021-11-10 19:55 | Report Abuse

Maybe it is just normal delay

Posted by leno > Nov 10, 2021 7:02 PM | Report Abuse

Sebak defaulted the bond payment yesterday.
Therefore, this month Sebak will CLOSE SHOP.
PERMANENTLY.

Posted by wolfbroker > 2021-11-10 19:56 | Report Abuse

But need to see the respond from SD also on the delay

Posted by bnmacai > 2021-11-10 19:57 | Report Abuse

Support serbadk. Siapa buat bising i sue kaw you. Don’t like don’t buy. No buy later limit up don’t red eye hor.

Posted by Beautyseeker > 2021-11-10 19:57 | Report Abuse

Can the trading resume during the legal process?

Posted by investorbat > Nov 10, 2021 7:02 PM | Report Abuse

If 2 legal processes on going,guess when to resume trading,2 years? 3 or 4?

Posted by Yu_and_Mee > 2021-11-10 19:57 | Report Abuse

something really suspicious?

Posted by Beautyseeker > 2021-11-10 19:57 | Report Abuse

Serba Dinamik sues EY, questions legality of "special auditor" - save malaysia! | I3investor


Serba Dinamik sues EY, questions legality of "special auditor"
Author: savemalaysia Publish date: Wed, 10 Nov 2021, 7:10 PM

KUALA LUMPUR: Serba Dinamik Holdings Bhd has sued its special auditor Ernst & Young Consulting Sdn Bhd (EY).

In its filing to the stock exchange today, Serba Dinamik said it had filed an originating summons against EY at the High Court here on Nov 5.

This came a few days after Serba Dinamik announced that it had brought Bursa Malaysia to the High Court for acting "in excess of power".

EY is the special auditor chosen by Bursa to be appointed by Serba Dinamik.

Bursa had reportedly in June and July this year issued a directive to Serba Dinamik to appoint EY as a special auditor to conduct a "special independent review" for the auditing issues raised by the company's previous auditor.

Subsequently in October, Serba Dinamik was issued another directive by Bursa, demanding it to announce a "Factual Findings Update" which is understood as material that had been prepared by EY.

Both instructions were allegedly made on the justification that Bursa has the authority to do so under the Main Market Listing Requirements (MMLR).

Pursuant to the second directive on Oct 22, Bursa suspended trading of the Serba Dinamik securities listed on the Main Market, pending the announcement of the said "Factual Findings Update"

Serba Dinamik alleged that Bursa had acted grossly in excess of authority and that there was an underlying theme that the regulator had interfered in the company's audit process.

In response, Bursa had on Nov 8 said it was entitled to exercise its power against Serba Dinamik being the frontline regulator of the country's capital market.

Such action was pursuant to the listing requirements in the interest of maintaining an orderly and fair market, it added.

In its suit agains EY, Serba Dinamik said it was seeking declarations that the former is not an "auditor" within the meaning of MMLR and that its appointment by Serba Dinamik, pursuant to MMLR, was based on misrepresentation and therefore, the appointment and letter of engagement executed between them was "void ab initio".

Serba Dinamik challenges EY's status as an auditor as defined under the MMLR and Companies Act 2016 and the fact that it was not registered with the Audit Oversight Board.

The consulting firm's independence is also being questioned as its affiliate is the auditor of Bursa.

Serba Dinamik said EY had not yet provided an answer to the company concerning the question of whether it was in fact an "auditor".

Market observers said Serba Dinamik had taken steps in recent days to defend its rights, as well as protect its reputation and shareholders' interests.

They said the stock trading suspension against Serba Dinamik was a suspension based not on a specified event in the MMLR e.g. failure to issue audited accounts. Rather, this was a suspension because "Bursa says so".

The episode concerning Serba Dinamik would be instructive for everyone as the investing public should also understand whether Bursa can suspend a counter at will, they added.

A market observer had raised the question: "Even if Bursa is right, do you give the directors a show cause or do you punish all the shareholders by a suspension? As it stands, there is no show cause and Bursa should ask itself, who are they punishing and why so?

Transpiring from that, the observer said Serba Dinamik was now calling into question the entire basis for the need of the special independent review.

Meanwhile, according to Serba Dinamik's originating summons, EY had acted contrary to its undertakings in the letter of engagement when it provided a "Factual Finding Update" to the Securities Commission without Serba Dinamik's consent and without even notifying it in the first place.

Serba Dinamik is also praying for an order that EY is restrained from releasing and publishing any form of opinions on the company.

Together with order for restitution and claim for damages, Serba Dinamik is also seeking for interim injunctive relief pending the full and final disposal of the originating summons.

The court has set the hearing of the interim injunctive relief on Nov 11 while the originating summons is fixed for case management on Nov 17.



https://www.nst.com.my/business/2021/11/744284/serba-dinamik-sues-ey-questions-legality-special-auditor

Posted by newtrader1989 > 2021-11-10 19:58 | Report Abuse

Common you b*stard* krim. Its just RM4 bil top line, just accept and do one off adjustment. Growup and accept your frauds. Its time to move on. You cannot sue everyone

Posted by InterFund® > 2021-11-10 19:58 |

Post removed.Why?

Posted by superrr > 2021-11-10 19:59 | Report Abuse

Of course young girls will have totally not idea with Chow Yun Fat, They have not yet come to this world ....Chow was a star of the old age more than 30 years ago....

-------------------------
i3lurker 18 y/o Sarong Padi Girl has totally no idea who is Chow Yun Fatt

sounds like a fried mee "Chow" or maybe hair saloon "Fatt"

or maybe is a massage parlour or a restaurant or even a nite club...





Posted by superrr > Nov 10, 2021 7:45 PM | Report Abuse

Mabel of course is over 60 ,her admired star is Chow yun fat which is about same age as her..
no wonder non stop long winded with long articles...feel very lonely.
10/11/2021 7:49 PM

Posted by newtrader1989 > 2021-11-10 20:00 | Report Abuse

Common you b*stard* krim. Its just RM4 bil top line, just accept and do one off adjustment. Growup and accept your frauds. Its time to move on. You cannot sue everyone

Posted by kwang2209 > 2021-11-10 20:00 | Report Abuse

Karim = Best actor Scammer Gangster

Posted by Shinnzaii > 2021-11-10 20:00 | Report Abuse

Haiyo...sue here sue there...need MACC help or not?got hire fraud investigator or not? internal audit department and compliance department leh?hehe

Posted by goodiewilly > 2021-11-10 20:00 | Report Abuse

still have 30 days time to pay, like everdrande hk

Posted by Yu_and_Mee > 2021-11-10 20:00 | Report Abuse

guys, please do not finish eating the chicken then complain the chicken was not cook at all and ask for compensation.

Posted by Mabel > 2021-11-10 20:02 |

Post removed.Why?

Posted by Yu_and_Mee > 2021-11-10 20:02 | Report Abuse

remember, the chicken was not door-to-door begging you to buy. You are the one step into the stall to ask for chicken.

Posted by Sweetchocalates > 2021-11-10 20:05 | Report Abuse

Siao liao this karim.

Posted by maf1964 > 2021-11-10 20:05 | Report Abuse

hai

Posted by Yu_and_Mee > 2021-11-10 20:07 | Report Abuse

When you lose in badminton, you can try to sue the judge, linesmen, opponents and the organizer because of not fair, bias, not focus, etc.
I should be sportsman, then can have opportunity to sue everyone.