Posted by wolfbroker > 2021-12-20 21:45 | Report Abuse

Theres a decision here made, glad that they keep it updated instead of stay silent

If silent always then bad na

Posted by BobAxelrod > 2021-12-20 21:47 |

Post removed.Why?

Posted by ǷearlꙌhite > 2021-12-20 21:48 | Report Abuse

.
New commentary issued.

Thanks.
.

Posted by BobAxelrod > 2021-12-20 21:49 |

Post removed.Why?

Posted by shareinvestor888 > 2021-12-20 21:53 | Report Abuse

Nanti beauty seeker become disaster seeker ….Hahaha

Posted by BobAxelrod > 2021-12-20 21:55 |

Post removed.Why?

Posted by BobAxelrod > 2021-12-20 21:56 |

Post removed.Why?

Posted by dianatrader > 2021-12-20 21:57 | Report Abuse

They are revealing things now, not that bad.

Will keep updated with the news

Posted by dianatrader > 2021-12-20 22:03 | Report Abuse

talk about seeking,

seeking for more info soon hahahah

these changes im looking it in a positive way

Posted by alieyasmart > 2021-12-20 22:07 | Report Abuse

What news in May 22?

Looking forward for that

Posted by alieyasmart > 2021-12-20 22:07 | Report Abuse

Millions for May 22 yeah?

thats a good indicator

Posted by ǷearlꙌhite > 2021-12-20 22:09 | Report Abuse

.
@20th December 2021
Details of Key Action Indicators. Lets run the show for the better of SD.

COMPLETED ACTIONS FROM DETAILS BELOW
- Restructure company to greater heights - more contracts/projects, focus on customer.
- Founder's legacy 1 - removed margin call risks till 10 sen and before completion of SIR.
- Manage cash flow and forecasts.
- New financing initiatives will not involve Private Placement. and Rights Issue.
- EY will provide finalised SIR to Bursa.
- Bursa to request SD to announce SIR findings.
- Complete 2020 audit and annual report as planned.
- Complete 30/9/2020 QR within time frame or earlier (1st draft out by 21/10/2021).
- Group meetings with asset / fund managers together with re-rating agencies. Initiate re-rating process..
- Meeting with current financiers. Initiate re-rating process.

=====================================================================
OUTSTANDING / ON-GOING

Shareholders' Mandate
- Founder's legacy 2 - restructure founder shareholdings to focus on future strategy, finance, legal - in progress

Business Development
- Re-engage lost and new customers and continue to win more contract/projects - in progress
- Provide more innovative and new products and services to customers world wide. - In progress

Operations / Project Management / Procurement
- Continue focus on delivering continue safety, operational efficiency and cost effectiveness - in progress
- Continue to delivery on projects within customers expectations and satisfaction on time.

Finance
- Manage collections and expenditures - In progress

Governance
- Issues highlighted in forum will be dealt by SC/Bursa directly with forummers. SD will have no part in time wasting activities. - In progress.
- To deliberate offer by KPMG to resolve legal issue. - In progress.
.

Posted by amet2017 > 2021-12-20 22:11 | Report Abuse

Where did you get the info from?


Posted by shareinvestor888 > Dec 20, 2021 9:58 PM | Report Abuse

Based on what karim reportedly said, the source of funds for payments to bankers/bondholders are from the collections from Serba’s trade debtors ie Trade Receivables

Posted by hanna20 > 2021-12-20 22:11 | Report Abuse

I see

Posted by shareinvestor888 > Dec 20, 2021 9:58 PM | Report Abuse

Based on what karim reportedly said, the source of funds for payments to bankers/bondholders are from the collections from Serba’s trade debtors ie Trade Receivables

Posted by hanna20 > 2021-12-20 22:12 | Report Abuse

what is the good indicator here?

Posted by shareinvestor888 > 2021-12-20 22:13 | Report Abuse

Actions Speak Louder than Words la….

Why jump ship if nothing wrong inside the ship? Haha ha

Posted by BobAxelrod > 2021-12-20 22:13 |

Post removed.Why?

Posted by shareinvestor888 > 2021-12-20 22:14 | Report Abuse

Bursa announcement dated 15 Dec 2021 by Serbak, partial quote as below,

Reference is made to the announcement made by Serba Dinamik Holdings Berhad (“SDHB” or the
“Company”) on 15 December 2021.

“The Board of Directors of SDHB wishes to announce that the Company had on 9 December 2021 triggered the following prescribed criteria as set out in Paragraph 8.04 and Paragraph 2.1(f) of Practice Note 17 - Criteria and Obligations of PN17 Issuers (“PN17”) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“MMLR”).

SD International Sukuk Limited, (“SDISL”), a wholly-owned subsidiary of Serba Dinamik International Ltd., which in turn is a wholly-owned subsidiary of SDHB, has defaulted in its payment of interest due on 9 December 2021 pursuant to the USD300,000,000 trust certificates due 9 May 2022 amounting to USD6,499,961.50 (“USD Sukuk”).

Unquote

Posted by risingstar21 > 2021-12-20 22:16 | Report Abuse

positive and negative here,

no matter what it is, lets look forward

Posted by risingstar21 > 2021-12-20 22:16 | Report Abuse

gaji besar, tapi baguslah kan resign. Can recover any bad things happened. cepat adjust

Posted by dimmubroker > 2021-12-20 22:20 | Report Abuse

positve news ahead!

Heard rumours here and there but dint know what to believe

Posted by dimmubroker > 2021-12-20 22:21 | Report Abuse

Please share any news about this?

read one about this but im pretty sure good things soon

Posted by kamirise360 > 2021-12-20 22:28 | Report Abuse

heard that sukuk will be paid later.

May 22 right?

Posted by kamirise360 > 2021-12-20 22:29 | Report Abuse

if they paid sukuk later theres good news there.

for the future of serba

Posted by risekita8 > 2021-12-20 22:32 | Report Abuse

good price here,

will seek the opportunity here

Posted by risekita8 > 2021-12-20 22:32 | Report Abuse

heard nothing bad outside apart from the news.

someone suggested this stock too

Posted by kami82 > 2021-12-20 22:35 | Report Abuse

SD or not,

i think they have something up their sleeve for regaining any bad issues

Posted by kami82 > 2021-12-20 22:39 | Report Abuse

call EOD or not.

Nothing we cant expect tho

Posted by kami82 > 2021-12-20 22:39 | Report Abuse

0.35 is a good indicator

gain profit here last time. feels like want to statt here again

Posted by Prudentinv > 2021-12-20 22:40 | Report Abuse

No mater what the outcome of 3.5 billion of accounting issue, auditor is held responsible. Big 4 can be international but remember there is scandal on big 4 too. To me the puzzle of the big sum of 3.5 billion just doesn't match. Damage is done.

Posted by shareinvestor888 > 2021-12-20 22:40 |

Post removed.Why?

Posted by shareinvestor888 > 2021-12-20 22:41 | Report Abuse

Doesn’t matter if bondholders don’t call EOD la…. only a few months later the Entire Sukuk outstanding of about USD 222 Million would be due anyway.

Sometimes ‘delayed’ problems could be worse for investors….

Posted by wongchin > 2021-12-20 22:42 | Report Abuse

Wow promoter at night still strong promote. Better check with your leader see still got comission or not. If dt have u all buta2 promote tangan kosong shj. Sd already in default. Promoter comission also likely default. Hehe

Posted by m3379 > 2021-12-20 22:51 | Report Abuse

These promoters are replying to each other almost instantly as if in a chat room.

Posted by newtrader1989 > 2021-12-20 22:52 | Report Abuse

Adbul kadir resign when ??

Posted by Prudentinv > 2021-12-20 22:52 | Report Abuse

This make more sense than just accounting issue.



ǷearlꙌhite .
With this move, Serba Dinamik is now officially under the wings of Gabungan Parti Sarawak (GPS). Chairman Kadir is a member of PBB. PBB is a component party of GPS (PBB /GPS is under the leadership of Sarawak Minister Openg).

It is to prevent the take over from 2 parties (aka KL buyers) who are in the federal government, from abusing the Capital Market regulations.

The shareholders will fight tooth and nail to prevent the abuse of regulatory action to force Serba Dinamik to surrender to accept a white knight.

As for minority shareholders, your investments will not be written off under whatever outcome (being taken over or not). Your investments will return to is former value.

Posted by shareinvestor888 > 2021-12-20 22:53 | Report Abuse

Good one @wongchin …. Strong Serba promoters faking buy calls

Posted by Prudentinv > 2021-12-20 22:54 | Report Abuse

Sarawak election victory is even better. Some struggle in between.

Posted by Prudentinv > 2021-12-20 22:56 | Report Abuse

Looks like the hammer not heavy enough for the big nail. Ha.

Posted by Burstard > 2021-12-20 22:58 | Report Abuse

Nice still dreaming this company is dead

Posted by Prudentinv > 2021-12-20 23:01 | Report Abuse

The damage done on loss of market capital, reputation, then degrading of rating that lead to suspension of borrowing. That is cause by one thing. Unconfirmed red flag. Accounting issue.

Posted by BobAxelrod > 2021-12-20 23:15 |

Post removed.Why?

Posted by joyvest > 2021-12-20 23:15 | Report Abuse

What a joke.

Since pbb is part of GPS, why not ask its Governmrnh to bail out SD by paying on behalf of all the dummy receivables.?

The dummy receivables are there awaiting to be exploited. Payments collected from the dummy receivables can be used to settle all the bonds in default. Its a perfect storm and happy ending too...

End of the story!

Posted by BobAxelrod > 2021-12-20 23:19 | Report Abuse

Didn't KPMG flew a team to *crime scene* to inspect, verify and authenticate prior to lodging report...? Seriously, I really thought they did....hahahaha

Posted by Prudentinv > 2021-12-20 23:22 | Report Abuse

Exactly, they have to let us know why they signed the previous audited account. Meaning to tell us that previously no issue. The issue only surface this time.

Suspicious, right?


BobAxelrod The duties and responsibilities of the Auditors coming into questioned and blamed?

The hardware store sells axe but not actually commanding you to become Freddy Krugger on Elm's Street,....NO?

Posted by BobAxelrod > 2021-12-20 23:25 |

Post removed.Why?

Posted by Prudentinv > 2021-12-20 23:33 | Report Abuse

What cause them do default coupon bond payment? It is due to the party raise unconfirmed red flag.

Posted by Prudentinv > 2021-12-20 23:41 | Report Abuse

It can be sued either way. Accounting issue that lead to damages.

Posted by Prudentinv > 2021-12-20 23:45 | Report Abuse

Furthermore, they don't engage Lawyer burok. Top lawyer representing them.

Posted by joyvest > 2021-12-20 23:50 | Report Abuse

Cross default is the fact. Now is not to question why it happens ,rather it needs to find the resolution to address to it.

Forget about the accounting issues..what is debited must be credited correspondingly. Close the dummy receivables ,which is the centre of controversy.