Posted by BobAxelrod > 2021-12-10 10:06 |

Post removed.Why?

Posted by LongTermInvestor8 > 2021-12-10 10:08 | Report Abuse

I guess all those receivables are fakes too.

Posted by LongTermInvestor8 > 2021-12-10 10:08 | Report Abuse

What is the situation like in the serba telegram group? still in denial?

Posted by muhfiq > 2021-12-10 10:10 | Report Abuse

Court verdict

Will have final answer

Posted by hoot9e996 > 2021-12-10 10:10 | Report Abuse

suspended so long, everyone losing hope already. 2months suspended so far i think really gone case karim paper loss 70% still ok now i dont know how..... want to cry

Posted by muhfiq > 2021-12-10 10:10 | Report Abuse

Need to recover
Already in end phase
Good to hear the outcome

Posted by hoot9e996 > 2021-12-10 10:13 | Report Abuse

in malaysia apa pun boleh, tapi ni mana boleh REFUND bagi chance cutloss buat karim beli balik serbadk shares at 0.4!!!

Posted by alenac > 2021-12-10 10:24 | Report Abuse

In Serbak, lawyers make the most from misery of sardines.

Posted by alenac > 2021-12-10 10:25 | Report Abuse

Next would be the receiver.

Posted by TalkC > 2021-12-10 10:36 | Report Abuse

informed earlier ady.. Dont believe in chef K.....

Posted by tvz32 > 2021-12-10 10:38 | Report Abuse

Please be informed that we have been notified through a letter dated 9 December 2021 sent by bond trustees HSBC via custodians that a trigger of a dissolution event has occurred due to the issuer missing its coupon payment after 30-days grace period (from 9 November 2021) ending today allowed to the issuer’s obligor Serba Dinamik Holdings.

A dissolution event is essentially triggered when the debt obligation of the issuer has not been met and bondholders, with a requirement of holding 25% of the total outstanding issuance (alone or together with others), can proceed to seek the dissolution of the trust (the vehicle to issue the offshore debt) and compel the debt to be immediately due for repayment.

At this point, we expect management to come forth to address the matter soonest and seek your kind understanding to allow our team to further advise on the matters hereon as the situation develops and more information surfaces.

Posted by tvz32 > 2021-12-10 10:40 | Report Abuse

Bondholders can compel Serba to pay off the debt immediately. In summary, Serba is in deep trouble. You can keep hiding the SIR but it will not do anything now. The bondholders will be coming for their assets

Posted by ChefKarim > 2021-12-10 10:40 | Report Abuse

What is the best food in the world? Answer is Prison food. Why? Because it is free and comes with Ikan Bilis.

Posted by ChefKarim > 2021-12-10 10:41 | Report Abuse

quick, what is Karim's favorite animal? a bookworm.... buy his latest book '1001 ways to cook a bookworm'.

Posted by ChefKarim > 2021-12-10 10:43 | Report Abuse

"High debt, high receivables, low cash flow is a RECIPE for disaster." - Quoted from ChefKarim Book

Posted by TalkC > 2021-12-10 10:47 | Report Abuse

I read a story book yesterday night time before I sleep.... The book is about a con company trying to con others by proceeding to legal cases to all the parties... The end of the story is...........

Posted by BobAxelrod > 2021-12-10 10:47 |

Post removed.Why?

Posted by TalkC > 2021-12-10 10:51 | Report Abuse

I also read another book today. The book is about a story a underperformed employee to take legal action to the company for giving him such rating....The employee still believe he is the best performance by faking the test results and report results which being red flagged by the auditors...

Posted by IdleMoney66 > 2021-12-10 10:56 | Report Abuse

They said they are paying the coupon payment ytd, but today news appears default the payment. It proves that management always liar to public.

Posted by stocksensei > 2021-12-10 11:07 | Report Abuse

That's what I've been saying. In biz no one can blame you if and when you lose money cause thats part and parcel of biz risk. But to deliberately lie , trap investors which supported and believe in the management in particular Karim until the very last moment is really over the line of scumbag that must be punished to the max .

Posted by ChefKarim > 2021-12-10 11:17 | Report Abuse

@stocksensei

Agree with you. Even Transmile boss knew when to shut up when they are caught. This Karim went and deny and deny, many retailers believe in him and average down their life savings.

Posted by TalkC > 2021-12-10 11:25 | Report Abuse

IdleMoney66 They said they are paying the coupon payment ytd, but today news appears default the payment. It proves that management always liar to public.
10/12/2021 10:56 AM

Maybe they paid for the parking payment coupons?

LOL

Posted by ChefKarim > 2021-12-10 11:32 | Report Abuse

still got money to pay lawyer for court case?
I think tapau liao.

GG.

100% loss

Posted by joyvest > 2021-12-10 11:39 | Report Abuse

Professional news outlets and journals ???

*First and foremost, how independent are they ? are you sure they are impartial to write their contributions to the O & G industry without any agenda ?

* How on earth do you think that they would safeguard the interests of the diversity of the investing parties with their news?

* Even they have access to the insider information, what makes you think that the insider information can not be fake ? what makes you think that they would take up the trouble to verifiy the information ? To them . verification is not important but the " Priority to publish fast " is important.

* Reliance on the professional news outlets and journals as the first line of check and balance for the O&G industry is hardly sufficient and doesnt work.

* The need of external auditors to conduct the statutory audits is paramount to safefguard the interests of the investing parties.

* The external auditors ,as watchdogs, are independent to leave no stones unturned to ensure that the financial statements present true and fair view without the existence of the material irregularities therein.

* The integrity and professionalism of the external auditors in the conduct of the statutory audit is unquestionable as the external auditors are fully aware of the fact that they can be sued for negligence in discharge of their professional duties

* Do you think the professional news outlets and journals can be sued like the professional external auditors ? who provides the news for them to write? The answer is clear.


_______________________________________________________
@The professional news outlets and journals are the first line of check and balance for the O&G industry.

These professional news outlets and journals, often helmed by ex-O&G professionals aided by financial specialist, are well connected with the entire supply chain, with many individuals in specific O&G companies and that of their peers, in addition to government authorities.

These connections are what makes these professional news outlets and journals so valuable and also so feared of by O&G companies. Not only that they are able to inform on the latest developments first, they will also be the first to know about alleged accounting irregularities and alleged fraud with their vast network.

So far, these professional news outlets and journals have not reported alleged accounting irregularities and alleged fraud for Serba Dinamik.

Serba Dinamik will continue to bask proudly to the O&G regulatory, compliance and media authority.

Posted by wongchin > 2021-12-10 11:42 | Report Abuse

Where is all the promoter gone. Lost in mars?

Posted by Huangbk72 > 2021-12-10 11:46 | Report Abuse

I know Kacang Putih is on horse anesthetic now... if not mengamuk in Tanjong Rambootan

Hahahahha

Posted by Yu_and_Mee > 2021-12-10 11:48 | Report Abuse

Why still not delisted?

Posted by ǷearlꙌhite > 2021-12-10 11:54 | Report Abuse

.
To address the lack of understanding of the SIR (and its requirements), might I suggest a way to get everyone up to speed on the correct methodology.

I would recommend the ICAEW Auditing and Assurance Book. It is a highly informative book with practical experience on how to deal with audits.

More importantly, rather than drown everyone with technical information, this book explains and shows how auditing is done in specific areas.

So, for Serba Dinamik's case, areas of audit discrepancies were on Receivables/Payables, Assets and Stocks.

Its no nonsense explanations as to why these methods are employed will enlighten even the ignorant.

Thanks.
.

Posted by BobAxelrod > 2021-12-10 12:01 |

Post removed.Why?

Posted by Burstard > 2021-12-10 12:04 | Report Abuse

End of story

Posted by ChefKarim > 2021-12-10 12:04 | Report Abuse

Zero is the true value of the shares.
Zero

All retailers should go to Serba HQ in Shah Alam and talk to Karim.

Posted by ChefKarim > 2021-12-10 12:05 | Report Abuse

back in the good old days you have certificate to hang on the wall, today... paper also dont have.

0 is the true value. 100% loss.

Posted by Huangbk72 > 2021-12-10 12:05 | Report Abuse

That’s why I say she needs horse anesthetic

Mad till finding fault with everyone but SD

Posted by gohkimhock > 2021-12-10 12:08 | Report Abuse

so you have taken people's money and refuse to pay back..?

Posted by BobAxelrod > 2021-12-10 12:10 | Report Abuse

@Huang, that may not be enough. Something like the bull elephant tranquilizer might work.

And better hurry on that as she's now charging and crashing her head against a brickwall.

Posted by BobAxelrod > 2021-12-10 12:14 |

Post removed.Why?

Posted by ǷearlꙌhite > 2021-12-10 12:15 | Report Abuse

.
(Updated 10th December 2021, 12.15PM)
Now this is progress. Let's see what has been found out about The Edge.

1) The Edge is lobbying Bursa Malaysia to break its own rules.
2) The Edge is lobbying for SC to take action on Serba Dinamik without evidence.
3) The Edge doesn't know who the regulator of the capital market is.
4) The Edge had concealed that RM3 billion of audit discrepancies were resolved in the SIR.
5) The Edge had concealed that audit discrepancies within Malaysian borders were resolved in the SIR.
6) The Edge had concealed that audit discrepancies that had KPMG as external auditors were resolved in the SIR.
7) The Edge had been acting on behalf of the hostile takeover parties of Serba Dinamik to create a negative perception of Serba Dinamik.
8) Jose Barrack's sifu gave feedback that The Edge cannot be taken seriously with poor quality journalism.
.

Posted by Burstard > 2021-12-10 12:20 | Report Abuse

Bond default gone case no need sir already

Posted by getingreal > 2021-12-10 12:21 | Report Abuse

https://www.theedgemarkets.com/article/serba-dinamik-subsidiary-defaults-bond-coupon-payment

Posted by PSAi3alert > 2021-12-10 12:23 | Report Abuse

(Updated 10th December 2021, 12.22PM)

“Simply put, the obligation of the issuer to pay the required coupon by the grace period did not materialise and has triggered a default,” the source stated.


The SIR covered only 11 identified local customers, 6 identified local suppliers, 5 SDIT International Limited of the identified customers and Lata in Bahrain.

However, there are a lot more customers that have yet to be identified for review and those customers have allegedly contributed to substantial 'immaterial' revenue over the years.

Selected Countries Cumulative Rev from 25/5/2016 – 31/3/2021: RM 13,396M

Qatar __________ 4601.051M
- Process Dynamics
- Pavilion Qatar Engineering Co. W. L.L
- Halul Offshore Services Company WLL

UAE ___________ 3380.402M
- New Thunder Technical Services
- Block 7
- Future Digital Data Systems LLC
- Sum Tech

Bahrain ________ 1756.658M
- Lata International Trading and Services
- Regno International Trading & Services W.L.L

Saudi __________ 1201.493M
- Midad Industrial Services

Turkmenistan ____ 721.542M
- Turkmengas

Indonesia _______ 613.514M
- PT Pilar Bahtera Energi

Oman __________ 580.59M
- Revenue International LLC

Kuwait __________ 224.697M

Tanzania _______ 194.809M
- Sufini Holdings Ltd

India ___________ 60.028M
- Captiv Techno Solutions Private Limited
- Analog and Digital Labs India Private Limited

Uzbekistan ______ 40.33M
- Hazarasp Chlor Alkali LLC FC

Laos ___________ 20.99M
- Nam Taep 1,2,3 Hydropower Co Ltd


--->>> Those 'immaterial' revenues that have been erroneously recorded as 'immaterial' assets in the balance sheet will continue to be 'immaterial'.


As at 30th September 2021

Immaterial Assets

Property, plant and equipment : 2,153.796M
Right-of-use assets : 449.619M
Investment in associates : 184.816M
Other investments : 55.314M
Intangible assets : 145.722M

Inventories : 2,342.654M
Contract assets : 652.606M
Trade and other receivables : 1,814.622M
Deposits and prepayments : 307.785M
Cash and cash equivalents 290.285M

Subtotal immaterial assets : 8,397.269M

--->>> Ultimately those 'immaterial' assets will need to be written-off


Material Liabilities
Loans and borrowings 2,278.187M
Trade and other payables : 477.129M
Loan and borrowings : 1,479.556M

Subtotal material liabilities : 4,234.875M

--->>> However, material liabilities will stay

.

Posted by cctan88 > 2021-12-10 12:25 | Report Abuse

who is peralwhite?
keep supporting serbdk case.
r u privy to insider news?
r

Posted by UmarTaylorSwift > 2021-12-10 12:27 | Report Abuse

https://themalaysianreserve.com/2021/12/10/serba-dinamiks-coupon-payment-default-signals-wider-risks/

Posted by UmarTaylorSwift > 2021-12-10 12:27 | Report Abuse

The sukuk also contains cross-default provisions with its other dollar-denominated 7% sukuk (US$180 million) due March 2025

Posted by treatshijau > 2021-12-10 12:29 | Report Abuse

seems near
that the scenario for past few weeks
any confirmed source?

Posted by Prudentinv > 2021-12-10 12:30 | Report Abuse

That's why someone interest is there so take advantage of the negative sentiment now to blow things out proportion.

Posted by Nikmon > 2021-12-10 12:33 | Report Abuse

White, solomolo and marble gone crazy...don't suicide and stop investing, your brain just too small,

Better gather your supporter at SD office to request release SIR so that you can cut loss.....haha, I want to see what would be the share price once suspend lifted...haha

100% loss....pls don't suicide, chat with your family.

Posted by BobAxelrod > 2021-12-10 12:35 | Report Abuse

Honesty aka Prudentinv would be so disappointed you didn't include him.....hehehe

Posted by ChefKarim > 2021-12-10 12:36 | Report Abuse

wtf man, peralwhite.... already confirm default yet you still support SD? Clearly shows got fraud yet you choose not to believe? better go to shah alam and ask karim to explain.

Posted by TryMakeGoodBuy > 2021-12-10 12:37 | Report Abuse

Don't worry.
If you read previous posting Ms Pucat aka Pearlwhite is always in the know.
So defaulting on coupon is also part of the game plan of SD.
So is the non disclosure of SIR or AR is part of the game plan.

Now cross default with all banks 'loans are also part of the game plan.
Kaa Boom will finance all projects from his personal pocket.

Last step is to take company to Holland according to game plan and then retired to Sg Buluh resort.

Ms Pucat, please keep up with your posting. Long time did not read fairy tales!!!
..............................................................................................................
Posted by cctan88 > Dec 10, 2021 12:25 PM | Report Abuse

who is peralwhite?
keep supporting serbdk case.
r u privy to insider news?
r

Posted by Nikmon > 2021-12-10 12:37 | Report Abuse

Haha, this one I though gone already......hiding from loan shark...