Posted by risingstar21 > 2021-11-15 16:07 | Report Abuse

On SD, i will just wait for the outcomes later.

Till then i also continue my business as usual at other stocks.

Posted by Gerrardo > 2021-11-15 16:09 | Report Abuse

Serba Dinamik committed to pay US$7.0mil coupon payment
Author: savemalaysia | Publish date: Sun, 14 Nov 2021, 5:43 PM

KUALA LUMPUR: Serba Dinamik Holdings Bhd says it is committed to fulfilling the coupon payment for its US$222 million sukuk.

The company, in a filing to Bursa Malaysia, clarified that the coupon payment due on November 9 this year was about US$7.0 million and not US$9.45 million reported by a business portal.

"Serba Dinamik has engaged and sought advice from our legal counsel as well as wrote to the sukuk agent to notify the sukuk holders on the correct amount due," it said.

Serba Dinamik said under the terms of agreement, the company has a 30-day period from the non-payment due date to cure and pay the overdue coupon obligations before triggering any dissolution event (event of default).

"We are also proactively engaging all stakeholders to provide timely updates and clarifications as and when required," Serba Dinamik added.

Serba Dinamik extends its guarantee that it has no intention to default on the coupon payment and is taking all necessary steps to remedy the matter within the stipulated timeline.

Meanwhile, Malaysian Rating Corp Bhd (MARC) said the missed coupon payment signified liquidity stress faced by Serba Dinamik.

On this basis, MARC views that Serba Dinamik's ability to meet its financial obligations will continue to be strained.

Accordingly, the rating agency removed the ratings of Serba Dinamik's Islamic Commercial Papers and Islamic Medium-Term Notes Programme (ICP/IMTN) programmes from MARCWatch Negative and downgraded the ratings to MARC-4IS/BBIS.

"The outlook on the IMTN programme is negative. MARC will reassess the ratings upon a review of the statutory audited accounts, which will be issued by the extended deadline of November 30, 2021 and other relevant findings," it said.

MARC said the concern on the protracted delay to resolve Serba Dinamik's audit issues had now been compounded by the missed semi-annual coupon payment on the outstanding US$222 million senior sukuk issued by its wholly-owned indirect subsidiary, SD International Sukuk Ltd.

"The coupon payment became due on November 9, 2021. MARC has been informed by the issuer that it is seeking to make good on the payment within the 30-day grace period before an event of default is declared.

"Nonetheless, in light of this development, the rating agency notes that a cross default could be triggered on the borrowings under the ICP/IMTN programmes under which the outstanding of RM100 million ICPs is due in May 2022," it added.



https://www.nst.com.my/business/2021/11/745312/serba-dinamik-committed-pay-us70mil-coupon-payment

Posted by Gerrardo > 2021-11-15 16:10 | Report Abuse

Despite all the matters arises, SD still put their commitments to pay it.

Good.

Posted by xiaoeh > 2021-11-15 16:13 | Report Abuse

surprisingly there are lots of die hard supporters who believe kpower is innocent and will rise just a matter of time

Posted by Beautyseeker > 2021-11-15 16:14 | Report Abuse

Just wait and see. Nothing to worry.
Posted by Yu_and_Mee > Nov 15, 2021 12:33 PM | Report Abuse

What will happen after 15 days?
I saw S&P also downgraded SD from CCC to CC. But still higher than Fitch given rating of C.
How to get fund raising with such rating? Got water fish swim into the bucket or not?
Oh, no need fund raising I guess. Because if not mistaken they have terminated the contracts, right?

Posted by wolfbroker > 2021-11-15 16:15 | Report Abuse

Wait until it becomes bigger

Posted by InterFund® > Nov 15, 2021 1:24 PM | Report Abuse

Buying big but cannot sell big.............. Hahahaha.............

Posted by wolfbroker > 2021-11-15 16:15 | Report Abuse

Just need to stay silence now.

And may laugh heavily later.

Stay calm

Posted by tradersampah > 2021-11-15 16:16 | Report Abuse

so sukuk dh bayar ke blum?

Posted by IdleMoney66 > 2021-11-15 16:16 | Report Abuse

Karim = Icon of Bumiputera Entrepreneur

Posted by bojed > 2021-11-15 16:16 | Report Abuse

Good then.

I take it positively that the reason SD didn't complete the purchase of an 8-storey building in Cyberjaya is perhaps due to them wanting to allocate that portion of money for something of better use such as paying for the USD7 million sukuk coupon.

Let's hope this is really the case for SD.

Posted by IdleMoney66 > 2021-11-15 16:18 | Report Abuse

https://en.wikipedia.org/wiki/List_of_scandals_in_Malaysia

Posted by Beautyseeker > 2021-11-15 16:19 | Report Abuse

He is still one of good entrepeneur. We can't deny that with just this incidents.

Stop playing 'bumiputera' issue in here.

Posted by IdleMoney66 > Nov 15, 2021 4:16 PM | Report Abuse

Karim = Icon of Bumiputera Entrepreneur

Posted by dimmubroker > 2021-11-15 16:22 | Report Abuse

Maybe they really bought it below 0.52

Posted by i3lurker > Nov 15, 2021 4:14 PM | Report Abuse

he meant to say that Kpower ,,,,, a 10 sen share goes up to 52 sen means "Very Good"

you must understand other people's weird logic just like pearlblack weird allegations that Serba cannot afford 10 sen photocopy charges to get copies of documents


Posted by Stocksafeplayer > Nov 15, 2021 4:11 PM | Report Abuse

KPower prices,
From 1.62 to now about 0.52 …for last 6 months.

Who says KPower is doing well?

Posted by dimmubroker > 2021-11-15 16:22 | Report Abuse

But why suddenly talk about KPower in SD site?

Haha.

Posted by hanna20 > 2021-11-15 16:25 | Report Abuse

Surely it is their time now to talk.

Just face it.

Posted by wolfbroker > Nov 15, 2021 4:15 PM | Report Abuse

Just need to stay silence now.

And may laugh heavily later.

Stay calm

Posted by hanna20 > 2021-11-15 16:26 | Report Abuse

And actually nothing can be done now when all under suspension.

Just hope it will be settled soon

Posted by risekita8 > 2021-11-15 16:28 | Report Abuse

The Serba Dinamik saga: When things come to a head By Devanesan Evanson
Author: savemalaysia | Publish date: Mon, 15 Nov 2021, 12:12 PM

ON Nov 8, Serba Dinamik Holdings Bhd announced that it had taken legal action against the frontline regulator of capital market Bursa Malaysia Securities Bhd .

This action is unprecedented based on the facts of the case. One of the factors on which the legal action pivots is the contents of the ‘Factual Finding Update’ of the Special Independent Review (SIR) conducted by Ernst & Young Consulting Sdn Bhd (EY) who incidentally is also being sued by Serba Dinamik.

On Oct 22, Bursa Securities suspended the trading of securities (including all structured warrants) of Serba Dinamik and issued a directive to the company to disclose the contents of the ‘Factual Finding Update’ by Oct 2.

The non-compliance to the directive would result in the continued trading suspension of Serba Dinamik’s securities on the next market day (Oct 27) after the directive deadline.

In a media release, Bursa Securities noted that the findings from the ‘Factual Findings Update’ as of Sept 30 on the SIR have been communicated to three out of four Serba Dinamik’s independent non-executive directors on Oct 21.

It was also reported that the presentation by EY was also attended by representatives from Bursa Securities.

Bursa Securities was of the view that the contents of the ‘Factual Finding Update’ are material enough to be disseminated to the public to ensure the orderly and fair trading of Serba Dinamik’s securities. However, Serba Dinamik disagreed.

Consequently, Serba Dinamik did not disclose the findings of the ‘Factual Finding Update’. The company gave its reasons why it was unable to disclose the contents.

There is thus a difference of opinion between Serba Dinamik and Bursa Securities. Bursa Securities then continued to maintain the suspension on the trading of Serba Dinamik’s securities due to this non-disclosure.

MSWG is not aware of the contents of the ‘Factual Finding Update’ and as such is unable to opine on the materiality of the findings.

On Nov 12, the SC as the statutory regulator of the capital market has assured the investing public that it has made progress on its investigation into Serba Dinamik and additional resources have been added to the team to ensure the investigation is completed in a timely manner.

As Serba Dinamik has taken legal action against Bursa Malaysia (and EY), the issue is now in the realm of the courts and MSWG awaits the timely resolution of the case in the interest of minority shareholders. – Nov 15, 2021



Devanesan Evanson is CEO of the Minority Shareholders Watch Group (MSWG).



https://focusmalaysia.my/the-serba-dinamik-saga-when-things-come-to-a-head

Posted by risekita8 > 2021-11-15 16:28 | Report Abuse

This SD story has become one of the main attraction to the Bursa nowadays.

Hehe

Posted by kamirise360 > 2021-11-15 16:31 | Report Abuse

Maybe they are comparing to other counters like gloves.

Maybe

Posted by i3lurker > Nov 15, 2021 4:14 PM | Report Abuse

he meant to say that Kpower ,,,,, a 10 sen share goes up to 52 sen means "Very Good"

you must understand other people's weird logic just like pearlblack weird allegations that Serba cannot afford 10 sen photocopy charges to get copies of documents


Posted by Stocksafeplayer > Nov 15, 2021 4:11 PM | Report Abuse

KPower prices,
From 1.62 to now about 0.52 …for last 6 months.

Who says KPower is doing well?

Posted by kamirise360 > 2021-11-15 16:32 | Report Abuse

But since last week, seems like TG and Supermax doing quite good also.

And as at now, TG has +0.07

Good one

Posted by Surebet > 2021-11-15 16:35 | Report Abuse

If they cant buy the cyberjaya building costing 24m looks like cash flow is very bad their IT arm cannot grow also.

Posted by tradersampah > 2021-11-15 16:36 | Report Abuse

any news that this counter will be open?

Posted by Jkoay > 2021-11-15 16:39 | Report Abuse

Kerajaan tipu, so company also tipu Business as usual with NFA.

Posted by neohts > 2021-11-15 16:51 | Report Abuse

CEO Karim should step down and say sorry to all shareholders.

Posted by Stock Kingdom > 2021-11-15 17:01 | Report Abuse

Bursa's representative presented on the meeting & received the soft & hard copy of the "updates" from EY

If it is neutral or favourable to SD, Karim would have straight away announced it.

So, please use your common sense to guess why Karim did all funny tricks trying to avoid the disclosures?

Posted by SHQuah > 2021-11-15 17:15 | Report Abuse

When is the last day for AR and QR report ?

Posted by IronShirt > 2021-11-15 17:16 | Report Abuse

neohts CEO Karim should step down and say sorry to all shareholders.
___________________________________

I hope Karim steps Down too....According to ASAi3alert my comment " run Karim run " can
be sued by Karim too....Anyway i cleaned my backside very well today...waiting for Courier
Boy's Lawyer Letter

Posted by solomolo > 2021-11-15 17:54 | Report Abuse

.....

next year guys....

Intraday traders most affected by stamp duty hike

https://www.msn.com/en-my/money/topstories/intraday-traders-most-affected-by-stamp-duty-hike/ar-AAQHT83?ocid=msedgdhp&pc=U531

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

Posted by Madmaxsean > 2021-11-15 17:54 | Report Abuse

Worst case scenario, straight delist from bursa malaysia

Posted by solomolo > 2021-11-15 17:56 | Report Abuse

SHquah...i think...next year is better...hehe

Posted by PSAi3alert > 2021-11-15 18:07 | Report Abuse

Serba bought the entire business of University Malaysia of Computer Science & Engineering (UNIMY), worth RM2.5 million, from Prestariang in February 2020.

The address of Unimy is Block 12, Star Central @ Cyberjaya, Lingkaran Cyber Point Timur, Cyber 12, 63000 Cyberjaya.

Same address as the building that was supposed to be purchased from Awanbiru:

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3208306




i3lurker there is an IT arm?
15/11/2021 4:36 PM

Posted by PSAi3alert > 2021-11-15 18:13 | Report Abuse

i3lurker,

Don't tell IronShirt that the writ has to be served personally.

Let him clean his backside every time a courier boy turns up.



i3lurker I believe Serba is committed to paying the courier company
so you may receive your letter or you might not.

We have no idea whether courier company is on the activated Grace period or not.
Only insiders like pearlblack will know.

According to pearlblack, Serba dun have money to pay 10 sen for photocopy.

According to pearlblack, Serba dun have money to pay telephone line cut off

and also

According to pearlblack, Serba dun have money to pay internet cut off

there you are......evidently........
what are your chances of backside cleaning?




Posted by IronShirt > Nov 15, 2021 5:16 PM | Report Abuse

neohts CEO Karim should step down and say sorry to all shareholders.
___________________________________

I hope Karim steps Down too....According to ASAi3alert my comment " run Karim run " can
be sued by Karim too....Anyway i cleaned my backside very well today...waiting for Courier
Boy's Lawyer Letter
15/11/2021 6:02 PM

Posted by Sslee > 2021-11-15 18:26 | Report Abuse

Haha I hope the Courier delivery Bangla also will sue IronShirt for defamation and insult for saying "....Anyway i cleaned my backside very well today...waiting for Courier" in i3 open forum.

Posted by Huangbk72 > 2021-11-15 18:28 | Report Abuse

The fake CEO has been caught too many times doing schoolboy mistakes..

He had been weighed and found lacking.. too many times.

Yet still posting non-stop nonsense

Guess he has too much invested in SD or working as a paid promoter.. i do wish he was the former.. losing money is a good lesson.

Remember Karma always bites back..

Posted by Buylowandrun > 2021-11-15 18:41 | Report Abuse

say sorry got use? investors and institution money gone down to drain liao


neohts CEO Karim should step down and say sorry to all shareholders.
15/11/2021 4:51 PM

Posted by SHQuah > 2021-11-15 18:44 | Report Abuse

Is Karim and Najib using the day lawyer ? If yes then SD is going to be suspended for a very long time.

Posted by InterFund® > 2021-11-15 18:50 |

Post removed.Why?

Posted by SHQuah > 2021-11-15 19:01 | Report Abuse

PW and Sslee, can SD be delisted ?

Posted by Buylowandrun > 2021-11-15 19:15 | Report Abuse

bursa cannot simply delist one counter, but only suspend them since bursa give them chance to release the SIR report but SD dont want, keep wasting time. so suspend them only lor
suspend them will give them a big hit liao since they cannot raise money anymore.
if they collected enough firm evidence SD is breaching the MMLR, anytime confirmed delisted.
hahahahha


SHQuah PW and Sslee, can SD be delisted ?

Posted by TryMakeGoodBuy > 2021-11-15 19:16 | Report Abuse

If suspended until your grand grand sons come out
same as de listed


IPosted by SHQuah > Nov 15, 2021 7:01 PM | Report Abuse

PW and Sslee, can SD be delisted ?

Posted by Depeche > 2021-11-15 20:14 | Report Abuse

It's BAU...new product from SDAI...biz will go on delisted or not.... timing of this piece of news is strange.

Posted by ǷearlꙌhite > 2021-11-15 20:36 | Report Abuse

.
Note : Status the same @1st November 2021. Key focus is to disclose items before 30th November 2021.

@15th November 2021
Details of Key Action Indicators. Lets run the show for the better of SD.

COMPLETED ACTIONS FROM DETAILS BELOW
- Restructure company to greater heights - more contracts/projects, focus on customer.
- Founder's legacy 1 - removed margin call risks till 10 sen and before completion of SIR.
- Manage cash flow and forecasts.
- New financing initiatives will not involve Private Placement. and Rights Issue.
- EY will provide finalised SIR to Bursa.
- Bursa to request SD to announce SIR findings.
- Complete 2020 audit and annual report as planned.
- Complete 30/9/2020 QR within time frame or earlier (1st draft out by 21/10/2021).
- Group meetings with asset / fund managers together with re-rating agencies. Initiate re-rating process..
- Meeting with current financiers. Initiate re-rating process.

=====================================================================
OUTSTANDING / ON-GOING

Shareholders' Mandate
- Founder's legacy 2 - restructure founder shareholdings to focus on future strategy, finance, legal - in progress

Business Development
- Re-engage lost and new customers and continue to win more contract/projects - in progress
- Provide more innovative and new products and services to customers world wide. - In progress

Operations / Project Management / Procurement
- Continue focus on delivering continue safety, operational efficiency and cost effectiveness - in progress
- Continue to delivery on projects within customers expectations and satisfaction on time.

Finance
- Manage collections and expenditures - In progress

Governance
- Issues highlighted in forum will be dealt by SC/Bursa directly with forummers. SD will have no part in time wasting activities. - In progress.
- To deliberate offer by KPMG to resolve legal issue. - In progress.
.

Posted by ǷearlꙌhite > 2021-11-15 20:44 | Report Abuse

.
Oh no! Vengence is a dish served cold? TF is gonna look for ya'all and he will play with you lot soon.

Best of luck!

https://www.linkedin.com/feed/update/urn:li:activity:6865190507593773056/

If we recover from this which we will, we won’t forget those who helped and we won’t forget those who were just plain mean, like one bank and a reservation system, some preess can’t believe companies who made so much money from us then when we struggle with something as extreme as Covid and then treat us so badly.
.

Posted by SHQuah > 2021-11-15 20:57 | Report Abuse

Pearl white, so AR and QR could be finalized by end of November 2021 ?

Posted by Honesty > 2021-11-15 21:18 | Report Abuse

Anyone can play nice and be good when the situation is good BUT not everyone can replicate that when the situation is bad.

Posted by Honesty > 2021-11-15 21:20 | Report Abuse

You will truly know a character of person only when he is pushed;
having said so, Serba will recover from this and come back stronger & wiser!!

Posted by ǷearlꙌhite > 2021-11-15 21:39 | Report Abuse

.
Tomorrow a new revelation will be revealed.

Good news for SD? Perhaps.

Looks like some organisations screwed up (bluntly put). And its all in the press.

Attention to details!

.

Posted by Oretama > 2021-11-15 21:42 | Report Abuse

IF we recover from this (Writer is very much in doubt), which we will (Try to act cool). Confident writer will write WHEN we recover from this instead of using IF we recover. I hope no one fell for the long incoherent essay (Marking the essay with Fitch Rating C)

Posted by PSAi3alert > 2021-11-15 22:06 | Report Abuse

Delusional disorder

Delusional disorder is a serious mental illness where you can’t tell the difference between what’s real and what’s not. Delusions, or false beliefs, comes in several types. Delusions of grandeur are one of the more common ones. It’s when a person believes that he or she has more power, wealth, smarts, or other grand traits than is true.

Even some healthy people can hold unreasonably high opinions of themselves. But unlike them, someone with grandiose delusions is unshakably convinced that their delusions are true.

For example, people with delusional disorder will believe that he/she:

- Built a company ground up to a USD2 Billion company

- is receiving many DMs from fans requesting for further information and/or join the telegram group

- Everyone is screwed up except one self

- Leading bulleted turnaround plans that are perpetually in-progress and are completely detached from reality

- leader of an action group to prevent the hostile takeover of a company (that clearly falsified its accounts, revenue, customers, etc; and is en route to be delisted and prosecuted for multiple offences)

- Strategized and executed MacDonalds's manufacturing and supply chain hub in Malaysia years ago, probably before Ray Kroc was born

- capable of leading Bursa, SC, SEC, BaFin, ACRA, FCA, etc

Researchers don’t know exactly what causes delusions. Sometimes, delusions of grandeur can be a symptom of another mental illnesses, including bipolar disorder and schizophrenia.

Grandiose delusions rarely happen by themselves. Most often, they are likely to also have delusions of persecution, a related condition where the deluded person is convinced that others are out to harm, conspire against, or otherwise mistreat him or her.

For example, the person may believe that:

- dark hands are conspiring against the person or the company that the person has invested in

- all professional and regulatory bodies are conspiring against the person's promoted company

- SC/Bursa/MSWG/rating agencies/all mother-in-laws are practicing double standards


A person with the above believes will have:

--->>> Likelihood of delusional disorder – High

--->>> Likelihood of schizophrenia – High

--->>> Likelihood of recovering without professional help – Very Low

Posted by Sslee > 2021-11-15 22:10 | Report Abuse

This is actually what the customers felt when they try to claim for refund was not entertained by AA.

We won’t forget those who helped and we won’t forget those who were just plain mean. We can’t believe company who made so much money from us then when we struggle with something as extreme as Covid and then treat us so badly. We were disgusted by the way we were treated in such a manner when claiming what is owed to us.