Posted by Mabel > 2021-11-11 11:52 | Report Abuse

#InvestorKING Mabel, I'm too regret that I didn't ALL IN SD previously, anyway I'm arranging with my broker to see whether I can put more cash inside and pledge my current securities to own more and more SD tickets,I'm using both to buy more SD tickets.

Hopefully SD can resume trading thereafter, as now the picture is very clear already, all Are just their wayang only
11/11/2021 11:46 AM

Cheers InvestorKing...

Mabel think, the price can still go down with too many scary movie scripts lately...

So follow the Armada Strategy, let the weak holders sell first and collect subsequently.....

https://www.youtube.com/watch?v=eB2Ho0e4UYg

How God Father protect his Investment.

"Grandpa, how are you going to make the bully stop?"
"Don't worry, I'll make him an offer he can't refuse."

Mabel think something is cooking in Serba to make that offer that we all can't refuse..

Just be patience..

To Our Success !

Meow

Posted by IdleMoney66 > 2021-11-11 11:52 | Report Abuse

土著公司，為了就是振興土著同胞，可以獨當立面，面對全球經商。
這一個醜聞，如何讓馬來西亞人再對土著信心？還會互相尊重扶持嗎？
希望Serba, Security Commission of Malaysia, Bursa Malaysia, KPMG 和 EY 能出來解決問題

Posted by King325462 > 2021-11-11 11:53 | Report Abuse

so so much worries...if your capital locked inside....

Posted by Stockisnotfun > 2021-11-11 11:54 | Report Abuse

You must know all these EY and Bursa are not pure good. If they can close one eye, they will choose to. So now Bursa can't close eye means Karim did something wrong and make bursa angry. Whatever he did. The fact is Karim and bursa relationship are very bad now.

Posted by IdleMoney66 > 2021-11-11 11:55 | Report Abuse

Not just people capital locked inside, trust towards malaysia and Bumiputera also being locked

Posted by ǷearlꙌhite > 2021-11-11 11:56 | Report Abuse

.
Kudos for the TheEdge to be on top of SD when it matters.

Serba Dinamik unable to complete RM24 mil office building buy; deposit forfeited

https://www.theedgemarkets.com/article/serba-dinamik-unable-complete-rm24-mil-office-building-buy-deposit-forfeited
.

Posted by Sneakpeek > 2021-11-11 11:58 | Report Abuse

Can saman to get back the forfeited deposit

Posted by tvz32 > 2021-11-11 12:00 | Report Abuse

Chinese developer Evergrande met a deadline to pay overdue interest on three US-dollar bonds before their grace periods ended, a report said Thursday, signalling it had averted another potential default and triggering a rally in the troubled firm’s shares.

All is not lost for Serba. As long as they can make the bond payment within the 30 day grace period

Posted by alenac > 2021-11-11 12:02 | Report Abuse

A company CEO that is insane will sue everyone that wants the truth on his wrongdoings in SERBAK and other companies.

Posted by Mabel > 2021-11-11 12:05 | Report Abuse

#tvz32 Chinese developer Evergrande met a deadline to pay overdue interest on three US-dollar bonds before their grace periods ended, a report said Thursday, signalling it had averted another potential default and triggering a rally in the troubled firm’s shares.

All is not lost for Serba. As long as they can make the bond payment within the 30 day grace period
11/11/2021 12:00 PM

Meow tv32!

Just let our Boys in Serba to their job after all they are working for us..

Virgil van Dijk is the World Best Defender
While Cristiano Ronaldo is World Best Striker
Mabel Top Glove is the World Best Defender
While Serba potentially Mabel's Best Striker

Mabel Ronaldo

Posted by PSAi3alert > 2021-11-11 12:09 | Report Abuse

"He who comes to equity must come with clean hands"

The maxim that a plaintiff in equity must approach the court with clean hands alludes to a number of distinct rules whereby a particular conduct may lead to a refusal of relief.

This maxim is closely linked with "he who seeks equity must do equity".

It draws attention to the origins of equity in a "court of conscience" and serves to point to a very important distinction between law and equity, viz, the ability of equity to give conditional relief.

Posted by paulthesotong > 2021-11-11 12:11 | Report Abuse

The bod is messy than Lionel Messi..how come no ones stewed mushroom (sack)?

Posted by InterFund® > 2021-11-11 12:11 |

Post removed.Why?

Posted by ǷearlꙌhite > 2021-11-11 12:12 | Report Abuse

.
How many here have done special independent reviews before? Or special audits?

Can share your experience rather than quoting sections of the Act (which is of no use btw).

Question 1

Can a non-registered AOB company/person(s) review and give judgement on matters that pertain to accounting standards/processes;

and/or

to non accounting issues/processes.

Answer to 1 is ................

Question 2

Can the special independent review/special audit's conclusion be decided upon and concluded at the discretion of Bursa/SC?

Answer to 2 is ....................


Please fill in the blanks.

.

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

#joyvest Even my dogs can smell fishy but you are sill doubtful . Why are these people so blinded and self deceiving as if " every thing is going to be alright " ?
11/11/2021 11:51 AM

Haha as the saying goes...

One Woman's Meat can be another Man's poison..

Mabel Motivation for collecting Serba Dinamik..

1. Low PE. PE Ratio (2.3x) compared to the MY Energy Services industry average (15.5x).

2. Continuous Dividend yield every Quarter since 2017..

3. Fantastic List of Contract with Diversified Business. EPCC continues to dominate total order book mix at 50%, with the remainder for O&M and ICT solutions at ~39% and 10% respectively.

4. 21 Consecutive Profits since 2016. Serba is healthy with 18 Billion Contracts with more than RM 6 Billion annual revenue with more than 1 Billion in profits. Expecting 22nd Consecutive Profits coming soon..

5. Expecting Good SIR. Very Proud to be the shareholders of this great company. Just be patience.

6. Serba gave charity to Malaysian. So happy that we are part of the Giver too.

7. Go for Snow While Option b).Enter into discussions for a financial settlement favourable to SD. This is Fast and Furious but Efficient. They have engaged the Best Lawyer!. Potential capital gain and Special Dividend once this KPGG thingy is resolved..

8. Based on Budget 2022, most likely scenario, many companies will do all sort of credit provisioning, impairment in FY22 to make sure profit cap at 100 Million. So, Dato Karim, if you are reading this, do take this opportunity to clean up the necessary so that our Serba Interceptor Battleship will come clean as we move into 2023...

9. Serba’s IT arm is one step closer to becoming a non-bank e-money issuer.

10. Serba Dinamik will benefit from Budget 2022- Matching grant of RM100 million for Bumiputera SMEs to explore aerospace industry. This definitely something for Serba to go to the moon.

So nice Goodies for upcoming Serba Future Millionaires...

To all Future Serba Millionaires, We are going to space in 2022..

So 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

Posted by Depeche > 2021-11-11 12:15 | Report Abuse

HAVING filed an unprecedented legal suit in Corporate Malaysia against market regulator Bursa Malaysia Securities Bhd on Monday (Nov 8), Serba Dinamik Holdings Bhd has filed an Originating Summons at the High Court against Ernst & Young Consulting Sdn Bhd (EY).

In its quest “to defend its rights, protect the company’s reputation as well as its shareholders’ interests”, the global integrated oil & gas (O&G) service provider is bringing EY to court on grounds that the latter is the purported “special auditor” chosen by Bursa Securities only to be appointed by the company.

Prepare Your Child Today For The Digital Tomorrow

Sponsored by Sri KDU KlangLearn more

In its legal action against Bursa Securities, Serba Dinamik has alleged that the market regulator has acted grossly in excess of authority and there is an underlying theme that it had interfered in the company’s audit process.

html{overflow:hidden;}body{margin:0;padding:0;}

var tmt, itv, f = window.frameElement, bh; setTimeout( () => { itv = setInterval( ()=>{ bh = document.body.offsetHeight + 20; f.style.cssText = "width:100%;height:"+bh+"px;border:none"; },1000); tmt = setTimeout( ()=>{ clearInterval(itv); },5000); },2000); setTimeout( () => { itv = setInterval( ()=>{ let f = window.frameElement; let sss= f.ownerDocument.defaultView.frameElement; let height = f.offsetHeight; sss.style.cssText="width:100%;height:"+height+"px"; sss.parentElement.parentElement.style.cssText += "position:relative;width:100%;height:auto;display:block"; },1000); tmt = setTimeout( ()=>{ clearInterval(itv); },5000); },1000); " data-integralas-id-3a0f7de8-7a95-9622-1f96-b5adad88585f="" style="box-sizing: border-box; margin: 0px; padding: 0px; border: none; outline: 0px; font-variant: inherit; font-stretch: inherit; line-height: 1; vertical-align: baseline; font-family: inherit; font-size: 23.4px; font-style: inherit; font-weight: inherit; width: 372.19px; max-width: 100%; height: 625px;">

It further revealed that in the months of June and July, Bursa Securities had issued a directive to the company to appoint EY as the company’s special auditor to conduct a special independent review (SIR) with regard to auditing issues raised by the company’s previous external auditor KPMG PLT.

“Subsequently, in October 2021 Serba Dinamik was issued another directive by Bursa, demanding the company to announce a ‘Factual Findings Update’ which is understood as material that had been prepared by EY,” the company pointed out in statement.

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

Pursuant to the second directive dated Oct 22, the market regulator had suspended the trading of Serba Dinamik’s securities pending an announcement of the said “Factual Findings Update”.

Legal action against EY

Transpiring from the above events, Serba Dinamik is now calling into question the entire basis for the need of the SIR.

In its suit filed on Nov 5 against EY, the company is seeking declarations that EY is not an

Posted by paulthesotong > 2021-11-11 12:15 | Report Abuse

U know its a ripoff when bod eats ' siakap'

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

@PSAi3alert.. read every line and you'll find the answer... this pc of news from FOCUS MALAYSIA.

Posted by hengtong > 2021-11-11 12:20 | Report Abuse

Some people still hope good thing might come out from SD. Was there any company suspended this long and still trading at KLSE today?

Posted by PSAi3alert > 2021-11-11 12:21 | Report Abuse

KPMG settling with Serba?

Hahahaha

FFU (Factual Finding Updates)!


Jul 31, 2021 5:32 PM Posting

"Ex turpi causa non oritur actio" and the need for locus standi in filing an action.

Some thoughts below:

I believe that the suit will not proceed to trial. KPMG's lawyer, Lee H, ought to have applied to strike the suit. The suit is fundamentally flawed because the company cannot not be the plaintiff in filing the suit. Serba is asking for losses in the market capitalization, but gains or losses in market capitalization are by the shareholders, not the company.

The shareholders and creditors may have a cause of action if KPMG has negligently failed to detect financial irregularities and the company has subsequently gone bust. Under this scenario, the plaintiff will be shareholders and/or liquidator; and the defendants will be the directors, KPMG and the company (under a derivative action).

Even if the case were to go to trial, the odds are against Serba because:

- Lack of 'Clean Hands' - "Fraus omnia corrumpit"
Till date, KPMG has done and said absolutely nothing that can possibly impact changes in Serba's share price. It was Serba's actions, press statements, press conferences and defamatory remarks that have caused the drop in the market capitalization

- Failed to mitigate losses
The onus is on the client to provide evidence to the auditor for the accounts to be signed off. If the client is unhappy that the auditor is not willing to sign off the accounts, the client can change the auditor but certainly not compel the auditor to change their opinions. (Can an alcoholic slanted-eye person sue his doctor for not issuing a health certificate that is required to fly a commercial airplane?)

- Contradictory statements
Alleging KPMG has impacted business and saying Business-As-Usual is blowing hot and cold

- Will not be able to gather witnesses
Based on the reasons stated by the INEDs for their resignations coupled with unequivocal statements by SC and Bursa, Serba will not be able to gather any credible witness for their case.

- Filing multiple frivolous vexatious suits is considered an abuse of the judicial process
First against KPMG. Then Bursa. Now EY Consulting.



Mabel

7. Go for Snow While Option b).Enter into discussions for a financial settlement favourable to SD. This is Fast and Furious but Efficient. They have engaged the Best Lawyer!. Potential capital gain and Special Dividend once this KPGG thingy is resolved..

Posted by EVO118 > 2021-11-11 12:25 | Report Abuse

Any news on the interim injunction relief hearing today 11/11 ?

Posted by PSAi3alert > 2021-11-11 12:29 | Report Abuse

Focus Malaysia? Serba's mouthpiece?

Ha ha ha


Depeche @PSAi3alert.. read every line and you'll find the answer... this pc of news from FOCUS MALAYSIA.
11/11/2021 12:16 PM

Posted by masterwahsing > 2021-11-11 12:33 | Report Abuse

Markets
Serba Dinamik (Neutral, TP: RM0.31), Awanbiru Technology: Unable to complete RM24m office building buy; deposit forfeited. Serba Dinamik, which is currently involved in three lawsuits caused by the audit disputes it has with former auditor KPMG, is unable to complete its purchase of an eight-storey office building in Cyberjaya, according to the vendor Awanbiru Technology (formerly known as Prestariang). (The Edge)

Posted by straightarrow > 2021-11-11 12:33 | Report Abuse

Posted by King325462 > Nov 11, 2021 11:51 AM | Report Abuse

Malaysia trending....to either become like bangladesh/India...or Indonesia style of country soon....we are not progressing to developed country model.....backward movement....

Unfair to quote or compare with other countries. Those countries are doing well....like India and Indonesia.

Posted by Depeche > 2021-11-11 12:35 | Report Abuse

Is SD still the premier partner in Dubai Expo 2021.

Posted by InvestorKING > 2021-11-11 12:38 | Report Abuse

ǷearlꙌhite .
How many here have done special independent reviews before? Or special audits?

Can share your experience rather than quoting sections of the Act (which is of no use btw).

Question 1

Can a non-registered AOB company/person(s) review and give judgement on matters that pertain to accounting standards/processes;

and/or

to non accounting issues/processes.

Answer to 1 is ................
Of course CANNOT, for example, can a lawyer who not registered with bar council to provide legal representative? All professionals must be qualified by the professional body then only can provide professional services, otherwise it's considered INVALID

Question 2

Can the special independent review/special audit's conclusion be decided upon and concluded at the discretion of Bursa/SC?

Answer to 2 is ....................
Yes can, SC has the absolute power,but not bursa


Please fill in the blanks.

Posted by alenac > 2021-11-11 12:40 | Report Abuse

Great thoughts about the Serbak group fiasco, however Chef hired a hustler lawyer firm is a defensive strategy ie to delay all authority's actions towards him as he gather enough resources to parachute out of his companies. Whether he broke the law is another matter for SC to decide and to take action.

Posted by PSAi3alert > Nov 11, 2021 12:21 PM | Report Abuse

KPMG settling with Serba?

Hahahaha

FFU (Factual Finding Updates)!


Jul 31, 2021 5:32 PM Posting

"Ex turpi causa non oritur actio" and the need for locus standi in filing an action.

Some thoughts below

Posted by zoizai > 2021-11-11 12:47 |

Post removed.Why?

Posted by jolynce > 2021-11-11 12:56 | Report Abuse

Lastly, SD can sue the lawyer. :P

Posted by Wirajati > 2021-11-11 13:00 | Report Abuse

Who knows, sd sue might sue lawyers because lawyers do not have presence in bahrain, qatar etc. Go, go, SD, ukendoit, fakeittillumakeit.

Posted by InsiderShark > 2021-11-11 13:10 | Report Abuse

Bursa says release the SIR report
Serba says no FFU report

Bursa says go find someone to do SIR
Serba says why you force me to choose EY?

Serba playing with words, pusing pusing, deny....

Posted by bobvic96 > 2021-11-11 13:17 | Report Abuse

A trip down memory lane from a time before ǷearlꙌhite became a SerbaDK employee.
Some of ǷearlꙌhite's previous posts - you can view yourself: https://klse.i3investor.com/servlets/cube/post/pearlwhite.jsp?fp=20

Still looking for the inflexion point where he started to get paid by SD - a similar event happened with Unsteady ConPeepee

Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD
Jun 23, 2021 9:10 AM | Report Abuse
.
SD Board and Mgt need to have mental evaluation

Mental issue very high

Too long Covid situation


Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD
Jun 23, 2021 3:01 PM | Report Abuse
.
INV3ST0R Press conference was a joke. It was like a bunch of kids throwing a tantrum bashing KPMG but did not even put out anything substantial like what exactly they disagree with, what shocked him so much by the "shoplot auditor" etc.

This BOD is a bunch of jokers.


SD felt victimised and is doing all it can to tell people that it is innocent. they felt betrayed.

SO, RELOOKING AT KARIM'S PRESS CONFERENCE YESTERDAY, DO YOU THINK HE WAS TELLING THE TRUTH OR TELLING LIES?


Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD
Jun 22, 2021 5:23 PM | Report Abuse
generally, suing auditor is not a good idea and will backfire.

especially on the notion "auditing process"

it is not SD to determine the "auditing process"

despite what Safee say, I am inclined to side with KPMG

Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD
Jun 22, 2021 2:39 PM | Report Abuse
.

ALERT!!
ALERT!!

KWAP DISPOSED ALL - 0 SHARE HOLDINGS

ALERT!!
ALERT!!

Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD
Jun 16, 2021 9:12 AM | Report Abuse
.
Why keep saying manipulating? Yes, everyone manipulates, its called Public Relations / Perceptions. As long as Accounting standards permit, its ok.

But there is a difference between

1) manipulating to commit fraud

2) no manipulating but commit Money Laundering.

Which one is worst? Get screwed by the Middle Easterns in your own backyard also don't realise?


Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD
Jun 9, 2021 10:29 AM | Report Abuse
When the issues get settled, there is only one way for SD to be trusted again.

Yes, if some of you know the answer, is to have auditors full time in the Finance Division throughout the year to scrutinise all daily transactions. It would have to be KPMG that is doing it as they are the appointed auditor at this point of time.

That is the way that is being done for Armada so no issues arises.

Of course, audit fees will go to the million per year.

You gotta do what you gotta do to provide assurance.


Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD
Jun 8, 2021 2:47 PM | Report Abuse
End of day, whatever inside information, insider talk is

CONFIRM IF YES OR NO TO DID SERBA DINAMIK DO

MONEY LAUNDERING??

Simple.



Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD
Jun 8, 2021 9:21 AM | Report Abuse
all retailer who bought last week, all RIP.....

ALL RETAILER WHO BOUGHT SINCE MARCH 2020 AND STILL HOLDING

WILL RIP

:)

Posted by PSAi3alert > 2021-11-11 13:18 | Report Abuse

InsiderShark,

You summarized the issues in 3 paragraphs.

Thanks!


InsiderShark Bursa says release the SIR report
Serba says no FFU report

Bursa says go find someone to do SIR
Serba says why you force me to choose EY?

Serba playing with words, pusing pusing, deny....
11/11/2021 1:10 PM

Posted by smurfbee > 2021-11-11 13:18 | Report Abuse

sue here and there.... hired ey and now sue ey... bat shit crazy... i wish it opens up for trading and sell it down to 0.005

Posted by bobochacha > 2021-11-11 13:26 | Report Abuse

some big fish call egm kick out karim lo. then all the truth will be revealed

Posted by Surebet > 2021-11-11 13:27 | Report Abuse

Karim can charge under cbt tak?

Posted by ken2004 > 2021-11-11 13:38 | Report Abuse

Seriously, this is like nailing the coffin already as surely very major damage to Serba in that report, seems like SC temporary save Serba shares holders by preventing anyone to dump the shares to cash out....

Posted by Bgt 9963 > 2021-11-11 13:45 |

Post removed.Why?

Posted by neohts > 2021-11-11 13:51 | Report Abuse

Karim taking us to Holland.

Posted by Speedrc > 2021-11-11 13:52 | Report Abuse

KNS! Stuck till die

Posted by Wirajati > 2021-11-11 13:53 | Report Abuse

This id like MLM, when no new recruits coming, money depletes, when ask when to pay, boss pusing², here...there...in the end, you scratch ur head asking why did i fall into this trap? Haiyya

Posted by bobochacha > 2021-11-11 13:54 | Report Abuse

they suing EY. meaning that EY will resign today.

Posted by bobochacha > 2021-11-11 13:57 | Report Abuse

will not have SIR report. so what if suddenly nexia dare to sign off the account. everything kaodim

Posted by yappenghung > 2021-11-11 13:58 | Report Abuse

Everyone can talk three or talk four.
The proof is in rhe pudding.
For a billion ringgit company with turnover in billions, cannot even raise rm23 million to complete building purchase, you think how is the cashflow?

Deduction, either the bank had withdrawn or suspended the loan and or company cannot generate rm24 million cashflow to pay

Posted by bobochacha > 2021-11-11 13:58 | Report Abuse

can bursa just forget their request of SIR?

Posted by InsiderShark > 2021-11-11 14:06 | Report Abuse

nexia will never sign untill the SIR is released.

Posted by InsiderShark > 2021-11-11 14:07 | Report Abuse

They sue EY to repeat the same tactic, so that EY says because of this lawsuit, they cannot give out neutral judgment or opinion, and Serba can argue because of this, EY will make bad report.

All just to stop the truth from coming out.

Karim going to prison.

#TangkapKarim

Posted by yappenghung > 2021-11-11 14:08 | Report Abuse

Hahaha
Just like urine test
One day positive for drug
Next day negative.

Nexia is willing to sign off, then they really have foolish courage to do.if i remember Nexia is also waiting for SIR to complete audit.
My take is that before any legal action completed, it may die from lack of cashflow

Posted by joyvest > 2021-11-11 14:14 | Report Abuse

Fxxk up

1.No SIR,no lifting of suspension
2.yes SIR,no lifting of suspension
3.No lifting of suspension,no trading ,kind of protection to investors
4.delisting like MAS
5.All shares are not marketable.
6.legal suits or not are irrelevant.

Posted by smurfbee > 2021-11-11 14:15 | Report Abuse

https://www.theedgemarkets.com/article/serba-dinamik-misses-coupon-payment-us300m-sukuk