Under Section 369(a)(B) of the CMSA, a person found to have made a false or misleading statement to the SC, the exchange or approved clearing house, if convicted, faces a jail term of not more than 10 years and a fine of not less than RM3 million, or both.
Karim writes like a toilet bowl cleaner (rotating equipment engineer in SD's parlance)
pearlblack writes like a failed journalist who failed to make the cut of getting into TheEdge, and ended up being a hustler for hire in a one-man-show tabloid portal (Focus Malaysia?).
InsiderShark PearlWhite... I am beginning to think PearlWhite is either Karim, one of the directors or someone really close to them. Trying his best to make Karim a hero. 28/12/2021 6:16 PM
Did you even care to try and understand TreeTopView's comment on your article?
"TreeTopView I don't hold any SD shares and have never held any shares in this company, however I am following this story to see how it develops. I believe my following thoughts are unbiased.
Something that I do not understand is how this story has turned into such a fiasco. Going back to May when these issues first occurred, surely the most logical thing for the company to do if they could not come to an agreement with their auditors was to IMMEDIATELY request a Trading Halt from Bursa. The share price at that time was around Rm1.60, so surely one of the company's main obligations to their shareholders was to protect their investment.
However, what has occurred is a public slanging match which puts SD under much more scrutiny and a share price that has plummeted to 35 cents. That is hardly looking after their shareholders interests.
If the CEO and Board were in total support of their reported financials, then that would be the logical immediate action to take. I would see an immediate Trading Halt as the first HIGH PRIORITY course of action.
I managed a division of a publicly listed company overseas for nine years and was obviously involved in major audits during that period and I have no doubt whatsoever that if there was a major irregularity highlighted that couldn't be explained and resolved, the CEO of the company would have called for an immediate halt in the company shares. Thankfully that never had to be brought into action.
I'm not pointing the finger at anyone yet in this 7 month saga but something doesn't quite add up.
Very interested to see the final outcome ! 23/12/2021 12:19 PM"
TTT find it weird SD didn't request halt of trading from Bursa when a dispute between SD and KPMG emerged.
Since you've also included TTT's past comments link, why don't you take a look at what he has said regarding SD. Hardly supportive, to say the least.
I don't expect everyone have the experience and critical thinking like him to spot the weirdness with SD, Bursa, SC and KPMG/EY case.
But at least, we are willing and are open to criticism when we spot something wrong and attempt to factually provide the correct facts and show the media power play. . 28/12/2021 6:20 PM
-"The SC’s investigation into Serba Dinamik started in May 2021 following a section 320 CMSA report by KPMG to the SC. Under the CMSA, auditors have a statutory obligation to immediately report to the SC, if they reasonably believe that there are any matters that may constitute a breach or non-performance of any requirement of securities laws, rules of the stock exchange or any matter that may adversely affect to a material extent the financial position of a listed company."-
It will serve as a stern warning to other directors in future..
This should be a very valuable experience to those who are still holding on to their Serba shares despite many warnings have been given before - it doesn't matter if the allegation is right or wrong, if the auditor of a company raises even a single red flag, get out as fast as you can!
Now , let's all SD holders look for Karim and hand him over to the authorities . He needs to be punished for having the real agenda of cheating until the very last moment just right up to suspension
Ikan Bilis ( who loss money from share purchases) can group together to file a Class Action lawsuit against Karim and Co. Karim and Co might stashed a lot money overseas. I have a feeling SB is just a Tin Kosong ( all accounts are "man-made" )
If pearl can be trusted the female hog also climb tree. Previously pearl say so many many story all proof to be fake one la. I recommend pearl go write novel maybe can earn a living. Hehe
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....
Legend
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Posted by Legend > 2021-12-28 18:44 | Report Abuse
Under Section 369(a)(B) of the CMSA, a person found to have made a false or misleading statement to the SC, the exchange or approved clearing house, if convicted, faces a jail term of not more than 10 years and a fine of not less than RM3 million, or both.