Posted by 8899EL8899 > 2021-11-28 00:21 | Report Abuse

rm4bil. bank borrowing by serba, next year many bank will suffer losses, .........for sure karim have borrowed few hundred mil. from serba as well,................. if serba going bankrupt, he don`t need to return the money he owe to serba..................... what a wonderful thing to do.

Posted by DickyMe > 2021-11-28 00:35 |

Post removed.Why?

Posted by PSAi3alert > 2021-11-28 00:55 | Report Abuse

"Meanwhile, Serba Dinamik's Bahrain customer LATA International's commercial registration address brought the auditor to what seemed to be a worker's accommodation. The auditor also found it unusual that the fax number indicated on the official website of LATA was registered under the group's regional general manager."

------- Lata International Trading and Services - fake project -------

Serba 2017 Annual report listed Lata International Services Ltd as a client from UAE.

"Revenue generated in UAE grew by 35.67% from RM213.50 million in FYE2016 to RM289.66 million in FYE2017. This revenue was mostly generated from our EPCC contracts with Lata International Services Ltd which provides its services to local end user clients in the oil & gas sector."

But, Lata International does not exist in UAE. The company existed in Bahrain.

--->>> Serba got confused with the location of their fake projects!!!

(Reminder to Serba's PR: in your future employment, get the company names and country location correct before publishing in annual report or press releases.)

There is no company by the name of Lata International Trading and Services that is registered with the UAE's Ministry of Economy.

A search at the Bahrain's Commerical Registration portal returned a result.

The company LATA INTERNATIONAL TRADING AND SERVICES S.P.C. OWNED BY SAYED ALI MOHAMED BAQER ALAWI was established on 03/02/2016 and it's name was changed to LATA INTERNATIONAL TRADING AND SERVICES W.L.L on 01/12/2020.


Commercial Name (English) LATA INTERNATIONAL TRADING AND SERVICES W.L.L
Registration Date: 03/02/2016

Flat/Shop No.: 42 <<<-------- worker's accommodation?
Building:421
Road/Street: 1805
Block: 318
Town: MANAMA / ALHOORA
Email: s.3li.89@hotmail.com
Phone No.2: ( +973 ) 37774479

Amendment History

01/12/2020 CHANGE COM NAME
Old Name: LATA INTERNATIONAL TRADING AND SERVICES S.P.C. OWNED BY SAYED ALI MOHAMED BAQER ALAWI
New Name: Lata International Trading and Services W.L.L


Shareholders and Partners

Name (English) Nationality Number of Shares Ownership (%)

SAYED ALI MOHAMED BAQER HUSAIN ALAWI BAHRAINI 500 100


The website for Lata International Services Ltd , lataintl.com , was created on the 21st April 2016 and was originally hosted with Penang based Exabytes.

In 17 Sep 2019, lataintl.com's hosting was transferred to Penang based Yeahhost.

Due to some kay-poh chee's posting in klse.i3investor.com about lataintl.com being hosted with Malaysian hosting companies, the domain was transferred to GoDaddy in 3 August 2021.

Changes in lataintl.com DNS servers
22 Apr 2016
ns111.mschosting.com
ns112.mschosting.com

17 Sep 2019
ns1519.securen.net
ns1520.securen.net

3 Aug 2021
ns45.domaincontrol.com
ns46.domaincontrol.com

Source: https://completedns.com/dns-history/

Posted by bojed > 2021-11-28 05:46 | Report Abuse

Thank you.

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

myinvesting The Edge week of 29 Nov to 5 Dec
27/11/2021 11:23 PM

ogre2021 hi @bojed
the edge is subscription based weekly edition for Nov 29 - Dec 5 2021.
27/11/2021 11:46 PM

Posted by Honesty > 2021-11-28 06:56 | Report Abuse

Assumption to Accusation to Denial to Disillusioned Reality to Repeat Old Stories and Name Calling !!
Daily Nay Sayers Activities, in order to brain wash people perception~~
Wakaka

Posted by Huangbk72 > 2021-11-28 07:50 | Report Abuse

KPMG detected Fraud

EY detected Fraud

Nexia can sign off clean AR?? 100% not possible

Prepare for delisting.

Unless SD accepts the SIR….

Shareholders should go SD office to make noise: it’s your money burnt and trust betrayed

Posted by Panorama1 > 2021-11-28 07:51 | Report Abuse

Omicron will be very negative for O&G, banks, airlines, recovery stocks etc. Equities and oil prices will be adversely affected. The speed and manner of development already indicated that the Covid-19 pandemic is far from over. It will be flight to safety from Monday onwards.

Posted by wongchin > 2021-11-28 08:23 | Report Abuse

Kesian promoter. Everyday promote non xxxxxxx stop for a plate of blood rice out of innocent newbie. Wakaka honest ajka pipi

Posted by Huangbk72 > 2021-11-28 08:29 | Report Abuse

My definition of delisting is involuntary

SD has no means for voluntary delisting.

Posted by xxxx > 2021-11-28 08:32 | Report Abuse

Fishy, fishy, fishy. If you think no, you must be dimwitted.

Posted by shareinvestor888 > 2021-11-28 08:50 | Report Abuse

Noted @Huangbk72. Involuntary delisting (if happens) means gg holland to me…


Huangbk72 My definition of delisting is involuntary

SD has no means for voluntary delisting.
28/11/2021 8:29 AM

Posted by Wirajati > 2021-11-28 08:53 | Report Abuse

Bursa compels SD to just disclose....
Non conclusive doesnt matter
Not = with kpmg doesnt matter
Just DISCLOSE.

even that is extremely dragging its fee to do. Ekeke

Posted by ǷearlꙌhite > 2021-11-28 09:01 | Report Abuse

.
By PearlWhite
28th November 2021, 9.00AM

Bursa : Is it a lifeline, redemption or a little of both

What is of intrigue is the following, taken from TheEdge,

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

"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."

There are 2 parts to this intriguing statement.

Firstly, in the event that the SIR would not be completed by EY, which is what Serba Dinamik has been pursuing, does this mean that Bursa is of the opinion that the EY SIR in whatever status of completion cannot be relied upon? If so, why is it then that the Factual Findings Update be deemed material and relied upon then?

Is this a redemption for Bursa for the way the SIR proceeded with questionable procedural, execution and decisions previously?

Secondly, Serba Dinamik is expected to appoint an independent reviewer with international affiliation. The quickest way and humanly possible way is with Nexia. After all, Nexia is conducting the audit for FY20/21 and would be the logical candidate to investigate what is being currently audited. If so, the SIR can be part of the Auditor's Statement for FY20/21.

Is this a lifeline given to Serba Dinamik to resolve this the quickest and more importantly, with ultimate independence, assurance and credibility?

I certainly see it as a little of both.
.


p.s. Please circulate to the Telegram/Whatsapp group and forums. Thanks.

Posted by Huangbk72 > 2021-11-28 09:12 | Report Abuse

It’s simple

SIR is deemed completed even with financial impact of RM1.43 B filed in court papers. That’s final

Nexia or any audit firm will have same findings as the 2 bigs if asked to check … That’s final too.

No need to pusing and trying to understand further

If SD accepts this SIR, then possible resumption of trading

If NOT, confirmed delisting

Posted by Honesty > 2021-11-28 09:15 | Report Abuse

After breakfast and critic are still spreading their concern !!
Kesiannya … Boss ask you to work overtime!!
Wakaka

Posted by Honesty > 2021-11-28 09:16 |

Post removed.Why?

Posted by BobAxelrod > 2021-11-28 09:17 |

Post removed.Why?

Posted by BobAxelrod > 2021-11-28 09:29 |

Post removed.Why?

Posted by myinvesting > 2021-11-28 09:34 | Report Abuse

even until 31 Dec, with 2 big 4 firms raised suspicious on the books, do you think Nexia will sign off a clean report?
If SB goes burst after the clean report, get ready RMxxx million for suit from shareholders in return after earning the few hundreds thousands of audit fee.

Posted by josephn > 2021-11-28 09:34 | Report Abuse

https://focusmalaysia.my/serba-theres-no-cover-up-were-only-acting-in-our-stakeholders-best-interest/

Posted by josephn > 2021-11-28 09:35 | Report Abuse

SD said that SIR is incomplete, still work in progress

Posted by leno > 2021-11-28 09:38 | Report Abuse

From My outsider's insider's info :
Nexia will RESIGN as Serba Dinamik auditor soon.

Posted by josephn > 2021-11-28 09:41 | Report Abuse

KPMG get sued, EY get sued, Bursa get sued, SC get sued, Court's judge get removed, Nexia also afraid to involve already

Posted by josephn > 2021-11-28 09:44 |

Post removed.Why?

Posted by BobAxelrod > 2021-11-28 09:51 |

Post removed.Why?

Posted by InvestorKING > 2021-11-28 09:55 | Report Abuse

Countdown 2+31days

Posted by josephn > 2021-11-28 09:57 | Report Abuse

I think SD should not listed in Malaysia, listed in China, Hong Kong, Singapore or US maybe got people take care of him.

Posted by josephn > 2021-11-28 09:58 | Report Abuse

I guaranteed even extension until Dec, SD also could not come out with SIR or Annual report

Posted by Huangbk72 > 2021-11-28 10:07 | Report Abuse

BobAxelrod @Huang,....SD accepting this SIR would not tantamount to Frauds and Cheating?........isn't accepting this would be a full confession, and in Court?

How can SD be relisted if so? Bankers will say let's forget and forgive?

Of course it will be admission of guilt..

That’s why I still say SD will be delisted to protect someone

Hopefully law will take its course and SD releases the SIR

Posted by BobAxelrod > 2021-11-28 10:14 |

Post removed.Why?

Posted by Keyman188 > 2021-11-28 10:15 | Report Abuse

Amboi...time to punish all contra kaki...short term traders..."skim cepat kaya" dreamer...


The whole market just started last Friday only...


More to come...KLCI see you @ 13xx...



wkwkwk...kekeke...hehehe...

Posted by BobAxelrod > 2021-11-28 10:18 |

Post removed.Why?

Posted by BobAxelrod > 2021-11-28 10:21 |

Post removed.Why?

Posted by josephn > 2021-11-28 10:26 | Report Abuse

I think Awang Daud is the most knowledgeable for current fraud, very early jump chip already, Karim and Kadier only his puppet to stand still protect the company

Posted by BobAxelrod > 2021-11-28 10:29 |

Post removed.Why?

Posted by shareinvestor888 > 2021-11-28 10:33 | Report Abuse

Thanks for sharing. Scary man!

i3lurker haha
the wonderful thing about accounting irregularities is that it's never ever only 1% or so.

By the time, it's cooked and bubbling over, those irregularities are way over 75% to 99%


PETALING JAYA: Former Megan Media Holdings Bhd executive chairman and director Datuk Mohd Adam Che Harun has been jailed 18 months and fined RM300,000 for providing false information to Bursa Malaysia.

Mohd Adam, 76, was charged on Dec 10,2007 and the false information relates to Megan Media’s revenue of RM306.15mil, of which more than 75% of the said revenue amounting to RM228mil were falsified, it said.

https://www.thestar.com.my/business/business-news/2020/09/16/former-megan-chairman-jailed-18-months
28/11/2021 10:29 AM

Posted by josephn > 2021-11-28 10:33 | Report Abuse

Scib has 80% order books revenue from Indian toilet cleaning company at Qatar falsified. Karim go to jail?

Posted by BobAxelrod > 2021-11-28 10:34 |

Post removed.Why?

Posted by BobAxelrod > 2021-11-28 10:36 | Report Abuse

Fines and Penalties for white collar crimes are a crying shame in comparison to the sums involved. But the CBT charges and added jail time would offer some compensation to investors' loss.

Posted by GrtTrdr > 2021-11-28 10:37 | Report Abuse

I 4 1 support 100% wat SD has done since beginning.

Posted by josephn > 2021-11-28 10:38 | Report Abuse

https://www.theedgemarkets.com/article/scib-secures-jobs-worth-rm86454m-oman-qatar

Posted by josephn > 2021-11-28 10:38 | Report Abuse

https://www.theedgemarkets.com/article/scib-terminates-six-epcc-contracts-qatar-and-oman-mitigate-longoverdue-debts-risk

Posted by josephn > 2021-11-28 10:39 | Report Abuse

Karim falsified revenue?

Posted by shareinvestor888 > 2021-11-28 10:44 | Report Abuse

Wonder if Bursa can obtain court order next week.
Making so many people including fund managers & bankers….nervous!!!

Posted by BobAxelrod > 2021-11-28 10:47 |

Post removed.Why?

Posted by getingreal > 2021-11-28 10:50 | Report Abuse

https://ibb.co/6r4zGRV read it and weep.

Posted by BobAxelrod > 2021-11-28 10:50 | Report Abuse

Fund managers already taken haircut. Bankers searching for Liquidation team and lawyers as pall bearers. Just awaiting for the Go ahead.

Posted by BobAxelrod > 2021-11-28 10:54 |

Post removed.Why?

Posted by newtrader1989 > 2021-11-28 10:55 | Report Abuse

I agree with Serba on the fact that there is nothing material to disclose. Given that EY and KPMG findings are same, off course there is nothing new and material to disclose. Lolz.

Posted by BobAxelrod > 2021-11-28 10:57 |

Post removed.Why?