. This is where a majority of investors are not well versed with disclosures and the concept of materiality.
SD will not announce the coupon payment to the market. That announcement is for the bondholders only, as revealed by the USD500k partial payment. (Pay attention to what was revealed previously and remember).
However, an announcement to the market will be necessary if SD defaults on the coupon payment after 30 days.
That said, if the media wishes to cause a stir with it, they could and try to elicit a media response from SD. .
Posted by Depeche > Dec 8, 2021 2:27 PM | Report Abuse
Watched a Bernama's video on SD....how Dat Karim started SD humbly in Bintulu... started education and training arm to groom his freshies and employees.... he looks like the humble, honest type.... it is unimaginable that the boss would commit fraud to end his good work and reputation...if at any point, he felt compelled to do wrong for whatever reason, that would be lamentable for those who loved and trusted their employer....hope he has always been what he was... and clear the current mess soon.
It is very Good decision that Bursa still suspend serba listing...until all the doubts are cleared in order to prevent innocent ikan bilis from being kon mah!
Most of us did not say it is confirmed fraud. We are saying it is very suspicious. Why?
1) 2 audit firm out of the Big 4 could not verify billions of transactions after so long and multiple rounds of delay. The audit fees for a big listed company is high, so no reason for KPMG and EY to simply break the relationship.
2) Directors resigning and co-founder selling down. Why would so many directors resign from the company? Directors get paid pretty well for attending ~10 meetings a year.
2) Reasons of delay given by Serba did not make sense at all. Keep saying not enough time, travel restrictions due to Covid etc. Please la, so many bigger MNCs with subsidiaries throughout the world can finish their audit in time. EY and KPMG have branches everywhere. If Serba cooperate with them, they can easily arrange for their counterparts in other countries to verify.
4) Serba's act of accusing and suing everyone including Bursa certainly did not help. Who is so powerful to the extent can command so many parties to gang up against Serba?
If those doubts items cannot be cleared & audited bcos of countries SOP, it is best serba share continue to be suspended pending the clearence of the above matters mah!
If Serba listing suspension is premature lifted...there is a high risk that naive innocent investors will kena slaughtered by the insiders shark mah!
Posted by stockraider > Dec 8, 2021 6:22 PM | Report Abuse
It is very Good decision that Bursa still suspend serba listing...until all the doubts are cleared in order to prevent innocent ikan bilis from being kon mah!
Oh pearl white spreading lies again. Trying to make it seems like everyone gangs up against Serba. Truth is that article was already available for paid subscribers last Saturday. Many have seen and read it. It is TheEdge's practice and business model to give paid subscribers early access to certain articles.
That is why suspension somehow is also a good news for certain people
Posted by stockraider > Dec 8, 2021 6:22 PM | Report Abuse
It is very Good decision that Bursa still suspend serba listing...until all the doubts are cleared in order to prevent innocent ikan bilis from being kon mah!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
muhfiq
759 posts
Posted by muhfiq > 2021-12-08 15:40 | Report Abuse
Need to bring trust back
The important part
Bet they're trying hard to do so