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

KUALA LUMPUR (Dec 10): Serba Dinamik Holdings Bhd's wholly-owned indirect subsidiary SD International Sukuk Ltd is reported to have defaulted on the latter's US$7 million (about RM29.53 million) semi-annual coupon payment on the outstanding US$222 million senior Islamic bond or sukuk issued by SD International, according to Malaysian Rating Corp Bhd (MARC) analysts.

"The coupon payment was due on Nov 9, 2021 and the company (Serba Dinamik) confirmed that no payment was made during the 30-day grace period which ended on Dec 9, 2021," bond-rating firm MARC said.

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

垂死挣扎

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

officially defaulted on payments...the truth is out there....karim missing soon lol

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

Yeah, It has been gone case long ago...Charts been shown. retarxded , con counter.

Posted by leno > 2021-12-10 12:44 | Report Abuse

KUALA LUMPUR (Dec 10): Malaysian Rating Corp Bhd (MARC) has downgraded Serba Dinamik Holdings Bhd's Islamic Medium-Term Notes (IMTN) rating to CIS from BBIS/Negative.

In a statement on Friday (Dec 10), MARC said Serba Dinamik's Islamic Commercial Papers (ICP) rating remains at MARC-4IS, which is the lowest category under the non-investment grade, reflecting the heightened risk of non-repayment on the outstanding RM100 million ICP.

MARC said the downgrade action is premised on the missed semi-annual coupon payment of US$7 million on the outstanding US$222 million senior sukuk issued by Serba Dinamik's wholly-owned indirect subsidiary, SD International Sukuk Ltd.

"The coupon payment was due on Nov 9, 2021 and the company confirmed that no payment was made during the 30-day grace period which ended on Dec 9, 2021.

"As a result of this default, there is now an increasing likelihood of a cross-default trigger under the IMTN/ICP programmes.

"Should sukuk holders declare an event of default, the ratings of both programmes will be downgraded to DIS," it said.

Posted by superrr > 2021-12-10 12:44 | Report Abuse

All bilis get con, no way out...

Posted by superrr > 2021-12-10 12:45 | Report Abuse

Only those sd promoters non stop promoting with unreasonable..

Posted by BobAxelrod > 2021-12-10 12:46 |

Post removed.Why?

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

Post removed.Why?

Posted by Gash19 > 2021-12-10 12:49 | Report Abuse

BAU sudah cukup

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

Serbadk confirmed dead. KNM also default. Sapura energy also defaults

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

payment debt default
Sued KPMG
Sued previous independent directors
Sued i3 investor CEO
Sued Bursa, Sued SC
Sued EYS sued malicious talker in forum,
Sued Media pubisher The edge and sued judge of the court.
Sued own dog
Sued own cat
Sued own duck
Sued own chicken
sue sue sue......

Apa lagi mahu ? ?

Last performance :::#####

Repayment debt default....Tiada lagi untuk menyanyi....

Posted by josephn > 2021-12-10 12:53 | Report Abuse

Nevermind later Serbadk would sue SUKUK for not giving them enough time to make payments

Posted by TryMakeGoodBuy > 2021-12-10 12:53 | Report Abuse

Ms Pucat aka Pearlwhite

Say what you want.
Since you always profess to know SD's plans, ask SD to sue the Edge or anyone giving false reporting.

But ask SD to pay the coupon.
I have mentioned earlier that cashflow will be the death of SD .

......................................................................................................................
Posted by ǷearlꙌhite > Dec 10, 2021 12:15 PM | 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 BobAxelrod > 2021-12-10 12:56 |

Post removed.Why?

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

So why they need to announced on the news said that on the way payment ?? Does it made sense ? After been done the payment refused to announce ?? haha

BobAxelrod Still waiting........

"However, an announcement to the market will be necessary if SD defaults on the coupon payment after 30 days."

Posted by josephn > 2021-12-10 12:58 |

Post removed.Why?

Posted by PSAi3alert > 2021-12-10 13:04 | Report Abuse

PearlWhite,

I feel sorry that you are taking all the heat.

I will come to your defense just one time.

Below is a post of your likely response on the bond interest payment default event.


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

“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.

-->> PearlWhite's likely comment:

{ The word 'simply' indicates an apathetic attitude. Serba will fight all the way to the Federal Court and apply to expunge the word 'simply' from the TMR's article. }


The default would be triggered on its US$300 million (6.3%) sukuk due in May 2022.

-->> PearlWhite's likely comment:

{ The word 'would' is a past tense of 'will'. Since the writer said the default 'would' have been triggered in the past but was not, therefore, it was not triggered at all.

Not once was there any mention of words that suggests "finalisation", "completion", "conclusion" or some words towards that effect. ​}


“The market generally had priced in a default event for its sukuks. If the company had the money, it could have paid anytime within the past 30 days. The sukuk holders have generally started selling when the audit issue was raised in May,” a bond market analyst told TMR.

-->> PearlWhite's likely comment:

{ Can anyone proof that Serba does not have the money and payment was not made? Furthermore, SSLee said 'money is not money if it's not spent'; he never said 'money is not money if it's not paid'

People keep on saying Serba will go bust when the Fat Lady will sing. There is no Fat Lady in this forum. Only a Fat Ah Kua. So, Serba will not go bust }

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

Posted by josephn > 2021-12-10 13:21 |

Post removed.Why?

Posted by paulthesotong > 2021-12-10 13:21 | Report Abuse

" can anyone say karma?" "Forgive me 4 smiling contently to my self"

Posted by ChefKarim > 2021-12-10 13:21 | Report Abuse

all according to plan, default and bankrupt, then close shop, then pray no investigation as bankruptcy is due to defaulting and not fraud.... that is the plan.

Posted by josephn > 2021-12-10 13:26 |

Post removed.Why?

Posted by newtrader1989 > 2021-12-10 13:29 | Report Abuse

Bond default was company strategy so that they can sue the bondholders for Rm 4bil.

Posted by Huangbk72 > 2021-12-10 13:35 | Report Abuse

@ Bob

LOL

That chap is a gone case... dont think any meds will work..

Posted by Huangbk72 > 2021-12-10 13:36 | Report Abuse

Next thing I look forward to is SC investigation outcome.

I hope to see it by next week.. if not, life will be pretty boring.

Posted by i3lurker > 2021-12-10 13:49 | Report Abuse

its all sslee punya fault

too much DIY

as a result ended up as sashimi rather than properly cooked

sslee should conduct proper cooking lessons so that all carnivorous apetites are properly addressed rather than being a supermarket and labour quarters.

under sslee misdirection sure the address will be a niteclub or a massage parlour providing "special services".
Then ...maybe... just maybe ... relevant actors will be satisfied after receiving "special services" they will tick the programme as "physically sighted Ms Massager without panties and verified 100%

=> nothing unusual to report....

Posted by Prudentinv > 2021-12-10 13:54 | Report Abuse

This only show a group is working together with an agenda. Keep posting over and over the same issue. Again, time will tell who is right and who is wrong. Many many know insider news and wanted cheap tickets like 5 cents. This market is really full of hungry shark.

Posted by Sslee > 2021-12-10 13:58 | Report Abuse

Hahahaja,
Cash and cash equivalents as on 30/09/21: RM 290,285,000.
So insteads of paying the bond coupon we had utilized the money to buy back all the US$300 million sukuk at 16-17 cents to the US dollar. Next quarter we will report profit of USD 250 million from bond buying.

Posted by InsiderShark > 2021-12-10 13:59 | Report Abuse

@Prudentinv

Haha.... insider wants to buy for 5 cents? the value is 0.... Z E R O... egg... nothing... nada... telur... you think got hidden hands push down price to collect? push to throw got lah.

Posted by bobvic96 > 2021-12-10 14:03 | Report Abuse

Wow, this post confirms that @Prudentiv is none other than @Honesty

Who in their right mind would (a) want to buy shares in a bankrupt company that appears to be fraudulent and (b) a company with any of the current BoD "running" it.

Get back to the care home, take your medication, you never know there may be hope.

Prudentinv This only show a group is working together with an agenda. Keep posting over and over the same issue. Again, time will tell who is right and who is wrong. Many many know insider news and wanted cheap tickets like 5 cents. This market is really full of hungry shark.
10/12/2021 1:54 PM

Posted by bojed > 2021-12-10 14:03 | Report Abuse

SERBA DINAMIK HOLDINGS BERHAD

Type Announcement
Subject OTHERS
Description Serba Dinamik Holdings Berhad - Issuance of Annual Report for the Financial Period Ended 30 June 2021
We refer to our announcement made on 25 November 2021 pertaining to the appeal application made by Serba Dinamik Holdings Berhad (“SDHB” or “the Company”) for an additional extension of time (“EOT”) to issue the Company’s Annual Report. Unless otherwise defined herein, all terms and acronyms used herein shall be the same as those defined in the previous announcement.



SDHB wishes to update that Bursa Malaysia Securities Berhad (“Bursa Securities”) has vide its letter dated 9 December 2021 dismissed the Company’s appeal against the rejection by Bursa Securities on 24 November 2021 of its EOT application ("Decision") and uphold the Decision as communicated on 24 November 2021.



This announcement is dated 10 December 2021.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3217717

Posted by hijau belalang > 2021-12-10 14:07 | Report Abuse

better take action now
before it is too late
good opportunity though

Posted by hijau belalang > 2021-12-10 14:07 | Report Abuse

need more time?
need more fund?
or need trust?

Posted by bojed > 2021-12-10 14:20 | Report Abuse

I noticed Cheah Chor Sooi from Focus Malaysia hasn't written any articles backing up SD for quite some time now.

Posted by Jarklp > 2021-12-10 14:22 | Report Abuse

With so many accounting issues, it is Interesting to note that the CFO has not resigned. How long has he been working there

Posted by Nikmon > 2021-12-10 14:24 | Report Abuse

It has starting slowdown on pressing since The edge report the OS and SIR EY...the infamous director also resign after the OS......

Posted by Nikmon > 2021-12-10 14:26 | Report Abuse

This is why white and SD supporter keep attack the edge....

Posted by Nikmon > 2021-12-10 14:27 | Report Abuse

I though the CFO has resigned long time, current new one can just play dumb

Posted by IdleMoney66 > 2021-12-10 14:36 | Report Abuse

All play dumb. Typical of Malaysia. I can foresee the future of Malaysia now

Posted by Nikmon > 2021-12-10 14:48 | Report Abuse

Btw, where are those white, marble, solomo and honest, kill by loan shark or suicide?

Posted by Prudentinv > 2021-12-10 14:50 | Report Abuse

To all the basher, Do you all hold shares of this company?

Posted by Nikmon > 2021-12-10 14:52 | Report Abuse

Who who still holding SD share, let's recap
How stopcd are you?
KPMG raise red flag - should caution
SD sue KPMG - only idixt still invest
Ex risk director resign - only 2 x idiox still invest
SD sue exDirector - only 3x ixiot still invest
SD sue Bursar - only 5x idxot still support SD
SD sue EY - only 6x xdiot still support SD

Posted by superrr > 2021-12-10 14:57 | Report Abuse

Small amount of interests rate also not able to pay. hopeless gone lai ; balik kampong....

Posted by Faiza > 2021-12-10 15:04 | Report Abuse

1MDB 2.0

Posted by superrr > 2021-12-10 15:05 | Report Abuse

Epf, KWP had sold out all a long time ago, but those con promoters still said that EPF still holding 5% of sb to con bilis..

Posted by Prudentinv > 2021-12-10 15:06 | Report Abuse

If all basher not holding share, then why so much condemnation?

Posted by m3379 > 2021-12-10 15:08 | Report Abuse

Promoters just defending using emotion and rhetoric. No facts.

Posted by ǷearlꙌhite > 2021-12-10 15:11 | Report Abuse

.
(Updated 3.10PM)
To address the lack of understanding of the SIR or an external audit (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.

It would be very useful for those who have embarked on their own investigation/audit career or those wishing to pursue greater investing evaluation skills.

As they say, never turn a blind eye to new ideas/concepts/skills and never close the mind.

Learning never stops.

Good luck and all the best.
.

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

Those promoters are related to sd, helping to con bilis..

Posted by ǷearlꙌhite > 2021-12-10 15:13 | Report Abuse

.
With this, Serba Dinamik will have to make an announcement.

Not doing so doesn't comply with relevant accounting standards and MMLR.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3217717
.