Posted by prince11 > 2021-11-24 22:46 | Report Abuse

sad sad sad

Posted by Vicky > 2021-11-24 22:58 | Report Abuse

https://www.thestar.com.my/business/business-news/2021/11/24/serba-dinamik-says-chairman-ilyas-and-director-johan-have-resigned

Posted by Vicky > 2021-11-24 22:58 | Report Abuse

ok. guys. now chairman pun sudah resigned. apa lagi. gone case. Serba endgame oredi

Posted by straightarrow > 2021-11-24 23:01 | Report Abuse

Speechless.....bad for business..this infamous episode

Posted by Vicky > 2021-11-24 23:02 | Report Abuse

sekarang sudah takade kerusi man.....apa lagi serba....independant director pun sudah cau....

Posted by alenac > 2021-11-24 23:04 | Report Abuse

It is just an excuse, even shop lot chairman and another director also can't handle CEO, Why the SBranch fellow take over as interim chair and still in the board?

Posted by Legend > Nov 24, 2021 9:44 PM | Report Abuse

KUALA LUMPUR: Serba Dinamik Holdings Bhd chairman Datuk Illyas Pakeer Mohamed and independent non-executive director (INED) Johan Mohamed Ishak have stepped down from the company's board with immediate effect.

Illyas and Johan were appointed as INEDs of the integrated oil and gas service provider on June 18.

In their resignation letters dated Nov 22, the duo said the requirements imposed by Bursa Malaysia on Serba Dinamik had prohibited them from fairly discharging their duties as independent directors.

As such, they were unable to fulfil their responsibilities to the company, its shareholders and the overall fairness of their independent directors' role in the Malaysian capital market.

Posted by nich0las > 2021-11-24 23:09 | Report Abuse

What? Why the Ex-PDRM sit on chairman place? LoL. May still got chance guys! Ready to H9e!
https://malaysiastock.biz/Company-Announcement.aspx?id=1364611

Posted by CHLEONG888 > 2021-11-24 23:10 | Report Abuse

Gone???

Posted by Legend > 2021-11-24 23:10 | Report Abuse

KUALA LUMPUR (Nov 24): Serba Dinamik Holdings Bhd group managing director and chief executive officer Datuk Dr Mohd Abdul Karim Abdullah has sold 25 million shares representing a 4.606% stake in KPower Bhd, formerly known as Kumpulan Powernet Bhd, at below market value.

According to the company's bourse filing, the shares were sold via a direct business transaction. The purchaser was not specified.

The 25 million shares were sold in two separate occasions, with the first tranche of 21.25 million shares sold on Tuesday (Nov 23) at 40.9 sen per share. The remaining 3.75 million shares were sold on Wednesday at 45 sen per share. KPower shares settled at 56.5 sen on both days.

The sale of those shares for about RM10.38 million in total has trimmed Mohd Abdul Karim's stake in KPower to 15.226% comprising 82.65 million shares from 19.832% or 107.65 million shares previously.

At the closing price of 56.5 sen apiece on Wednesday, Mohd Abdul Karim's stake in the renewable energy contractor is worth around RM46.7 million. The group now has a market capitalisation of RM307 million.

Just about a month ago on Oct 21, Mohd Abdul Karim sold his entire 55.9 million warrant holdings in Serba Dinamik, which represented about 6.34% of the group's total warrants, at near record low prices, only to purchase one million shares in Serba Dinamik a day later.

The share trades of Serba Dinamik, together with Sarawak Consolidated Industries Bhd (SCIB) — two companies that Mohd Abdul Karim is actively involved in — have been suspended recently. Serba Dinamik's suspension, since Oct 22, was due to its failure to provide an update on its ongoing special independent review regarding some accounting issues, while SCIB was suspended from Nov 9 due to its inability to issue its annual report within the stipulated time frame.

Posted by nich0las > 2021-11-24 23:14 | Report Abuse

https://web14.bernama.com/storage/document/8f550995ee6f63fbc5198be5df31bb635d105d68ab296

Posted by alenac > 2021-11-24 23:15 | Report Abuse

Can be just a transfer without payment? As Chef could be in debt with banks as Serbak shares have zero value and bank can recall loans any time.

Posted by Legend > Nov 24, 2021 11:10 PM | Report Abuse

KUALA LUMPUR (Nov 24): Serba Dinamik Holdings Bhd group managing director and chief executive officer Datuk Dr Mohd Abdul Karim Abdullah has sold 25 million shares representing a 4.606% stake in KPower Bhd, formerly known as Kumpulan Powernet Bhd, at below market value.

According to the company's bourse filing, the shares were sold via a direct business transaction. The purchaser was not specified.

The 25 million shares were sold in two separate occasions, with the first tranche of 21.25 million shares sold on Tuesday (Nov 23) at 40.9 sen per share. The remaining 3.75 million shares were sold on Wednesday at 45 sen per share. KPower shares settled at 56.5 sen on both days.

Posted by Jarklp > 2021-11-24 23:17 | Report Abuse

"the duo said the requirements imposed by Bursa Malaysia on Serba Dinamik had prohibited them from fairly discharging their duties as independent directors."

- why the new chairman can perform the duties but the two can't ?
Answer : Because they are shop lot directors... lol

New chairman can handle SD's accounting issues ?

Posted by Jarklp > 2021-11-24 23:19 | Report Abuse

I think the new chairman can handle... as long as the issues remain non-factual and trivial....lol

Posted by alenac > 2021-11-24 23:22 | Report Abuse

Seen this kind of arrangement before when the company is in big trouble get ex-senior police officer in charge. The end is very near.

Jarklp "the duo said the requirements imposed by Bursa Malaysia on Serba Dinamik had prohibited them from fairly discharging their duties as independent directors."

- why the new chairman can perform the duties but the two can't ?
Answer : Because they are shop lot directors... lol

New chairman can handle SD's accounting issues ?
24/11/2021 11:17 PM

Posted by alenac > 2021-11-24 23:26 | Report Abuse

Prevent creditors from looting the company's assets?

Posted by Jarklp > Nov 24, 2021 11:19 PM | Report Abuse

I think the new chairman can handle... as long as the issues remain non-factual and trivial....lol

Posted by alenac > 2021-11-24 23:28 | Report Abuse

Poor company, management running it into the ground.

Posted by ytk666 > 2021-11-24 23:37 | Report Abuse

ready to pn17

Posted by shareinvestor888 > 2021-11-24 23:41 | Report Abuse

“Never bite the hands that feed you”

Posted by alenac > 2021-11-24 23:43 | Report Abuse

Looks like coupon payments will default next month all directors parachuting from the board. No hope for SIR to be out at all. See whether the new auditor dares to come out with a clean Auditor's report.

Posted by shareinvestor888 > Nov 24, 2021 11:30 PM | Report Abuse

Who calls the shot? Karim or chairman?

Is Chairman an Executive or a Non-Exec Chairman?

Posted by bojed > 2021-11-24 23:56 | Report Abuse

The final blow will truly come if Tan Sri Dato' Sri Dr Shafee decides to abandon ship too.

Posted by shareinvestor888 > 2021-11-24 23:58 |

Post removed.Why?

Posted by alenac > 2021-11-25 00:01 | Report Abuse

This could be the reason to get an ex-police man sitting at the front door before creditors come knocking and also at this moment its physical assets could be under threat of thievery.

Posted by shareinvestor888 > Nov 24, 2021 11:54 PM | Report Abuse

@alenac….. with ongoing corporate governance issues now culminating in Bursa taking legal actions via court against Serba, if serba really default on coupon payment after grace period….maybe the ‘final nail on the coffin’ figuratively speaking.

Posted by paulthesotong > 2021-11-25 00:02 | Report Abuse

Suspended for few weeks ...Where do we send our gratitude notes for management now thats it seem the Chairman ( now without a chair) is no longer there?#sacktheboard.

Posted by shareinvestor888 > 2021-11-25 00:15 | Report Abuse

“In Bursa's application, it is seeking a declaration that Serba Dinamik had contravened or breached and is in continuing contravention and breach of its obligations under the Main Market Listing Requirements (MMLR), when it refused or failed to comply with Bursa's instructions on Oct 22.

It also sought Serba Dinamik to be compelled to disclose the E&Y's SIR and the KPMG findings.

It also sought a court order directing Serba Dinamik to complete the SIR with E&Y or in the event of EY's premature resignation or its termination, the court orders the company to appoint an independent reviewer with international affiliation within 14 markets days for the SIR to be completed.

The SIR was done to assess the veracity and accuracy in matters raised by KPMG, as the auditor found questions regarding the recognition of Serba Dinamik and its subsidiaries revenue, purchases, receivables, payables and materials on site balances which may affect the company's financial position.”

Source:
https://www.theedgemarkets.com/article/why-bursa-sought-serba-dinamik-be-compelled-make-public-announcement-independent-review

Posted by paulthesotong > 2021-11-25 00:18 | Report Abuse

Godfather run company being go bust.

Posted by Moneymore > 2021-11-25 00:21 | Report Abuse

Heard Bursa CEO will be replaced due to pressure from Sarawak connections

Posted by shareinvestor888 > 2021-11-25 02:26 | Report Abuse

See if Bursa’s court application is successful or not then….

Posted by linheng > 2021-11-25 04:11 | Report Abuse

23
NOV
DYMM Sultan Ibrahim Ibni Almarhum Sultan Iskandar berkenan menerima menghadap Dato’ Dr. Ir. Ts. Mohd Abdul Karim di Kuala Lumpur
SERBADINAMIKNEWS

Posted by linheng > 2021-11-25 04:11 | Report Abuse

New Shareholder

Posted by EVO118 > 2021-11-25 05:17 | Report Abuse

Serba Dinamik chairman, director quit in protest against Bursa demands.
https://www.theedgemarkets.com/article/serba-dinamik-chairman-director-quit-protest-over-bursa-requirements-prohibiting-them-fairly

Abdul Karim sells 4.6% stake in KPower at below market price for RM10.38m.
https://www.theedgemarkets.com/article/abdul-karim-sells-46-stake-kpower-below-market-price-rm1038m

Posted by Sneakpeek > 2021-11-25 06:07 | Report Abuse

imagine one person can create havoc in 3 high profile public listed companies

Posted by EVO118 > 2021-11-25 06:24 | Report Abuse

Karim is a VVIP.

Posted by InterFund® > 2021-11-25 07:21 |

Post removed.Why?

Posted by Jokers2020 > 2021-11-25 07:26 | Report Abuse

go case for serba..chairman n director resign show something very wrong which they do not want to tarnish their good reputation

Posted by abang_misai > 2021-11-25 07:30 | Report Abuse

They quit to protest due to non-increment this year?

Posted by josephn > 2021-11-25 07:31 |

Post removed.Why?

Posted by henry888 > 2021-11-25 07:31 | Report Abuse

Unless case settled out of court, otherwise court case would drag on and on....where is the end and when lift of suspension....

Posted by josephn > 2021-11-25 07:32 | Report Abuse

Bumiputera company always can get help from powerful people

Posted by 8dragon > 2021-11-25 07:39 | Report Abuse

The worst CEO of the century, should delist all his companies from Bursa.

Posted by InterFund® > 2021-11-25 07:42 |

Post removed.Why?

Posted by Wirajati > 2021-11-25 07:42 | Report Abuse

Promoters have been harping sure win case, ekekr
‐-------------

henry888 Unless case settled out of court, otherwise court case would drag on and on....where is the end and when lift of suspension....

Posted by InterFund® > 2021-11-25 07:43 |

Post removed.Why?

Posted by EVO118 > 2021-11-25 07:52 | Report Abuse

Was that photo just to show who the potential part owner might be?

Posted by ipohwhitecoffee > 2021-11-25 07:56 | Report Abuse

No need waste time in this suspended co.
Your capital here will stucked forever. colder than water...

Anyway he shd hv stay longer. Kinda missed the moment when he mentioned "shoplot auditor" "behaving like official gangsters" etc. It was legendary...

https://www.youtube.com/watch?v=vssNP00vxng

Posted by henry888 > 2021-11-25 07:58 | Report Abuse

Actually if you said a listed companies was doing wrong and Bursa imposed penalties (paid by the company which investors are also the shareholders) on the company or delist (after delist investors how ?) the company would not be fair to ppl/investors. There is nothing to replenish the investors' loss.

Posted by 8dragon > 2021-11-25 08:00 | Report Abuse

Who he wants to show to the world, he's just nut to compare to most of the listed Co in bursa, shameful of him doing all the nasty works...

Posted by williamtkb > 2021-11-25 08:23 | Report Abuse

SC and Bursa did a great job. If possible doing the same on those conman penny stock companies too.

Posted by joyvest > 2021-11-25 08:28 | Report Abuse

Pathetic

Trying hard to buy time with lawsuits etc etc in a desperate bid to search for "real" dummies( be it receivables or payables) to close the alleged transactions.

I bet all the dummies would turn out to be " real" ....so " real " that they become "unreal"

The recent resignation of the directors concerned is just another tactic to put the blame openly on SC insinuating that SD is not at fault.

Posted by josephn > 2021-11-25 08:47 | Report Abuse

Why can't this SD just released the SIR and Annual report without filter anything. EY and Nexia auditor really so slow meh?

Posted by Legend > 2021-11-25 08:57 | Report Abuse

Good morning...