Posted by Mabel > 2022-05-16 12:12 | Report Abuse

After 3 years Mabel will put the Investor hat again for SD..

To Our Success

Warren Meow

Posted by Mabel > 2022-05-16 12:14 | Report Abuse

BursaVulture “We do not have any ‘godfather’ or ‘strong political connections’ to shield us,” he said, while refusing to reveal the identity of the alleged perpetrators as investigations are still underway.
16/05/2022 11:46 AM

Don't worry DK..

Now you got 2 God Mothers..

Meow Meow Meow

Posted by BursaVulture > 2022-05-16 12:33 | Report Abuse

you know what they say, if you go to a prison and ask who is innocent, almost every single one of the prisoners will say they are innocent and there is a hidden hand in the justice system.

Posted by OpporturnityHunter > 2022-05-16 12:44 | Report Abuse

Good Lah SC top management resigned. wakakaka. Always said to protect retailers, Fucc.

Posted by BobAxelrod > 2022-05-16 12:48 |

Post removed.Why?

Posted by BobAxelrod > 2022-05-16 12:49 |

Post removed.Why?

Posted by BursaVulture > 2022-05-16 12:51 | Report Abuse

Hidden hand made those 59 stamps and hide it into Serba's office.

Posted by williamh > 2022-05-16 13:01 | Report Abuse

Both SD n sapura are 100% own by bumiputra n the gov of the day is capitalised on these to gain support in the Soon election ,Soon Petronas will taking over sapura then follow by…

Posted by BursaVulture > 2022-05-16 13:08 | Report Abuse

even if Petronas do bail out Serba, they will never pay for Rm1.60. Gov also never pay high price for MAS, even Proton was privatize below the peak. Stop dreaming. Sell before it is too late to leave.

Posted by piranha88 > 2022-05-16 13:08 | Report Abuse

Hidden Hands Season 2 now on at SD theater. Tickets sold out. Will it beat the Mousetrap as longest running play

Posted by paulthesotong > 2022-05-16 13:28 | Report Abuse

"the greatest modern criminal defence.'
"
Judge: "Son u robbed a bank, that a thug behaviour"

Robber: "OMG" U called me a thug, U racist, set me free"

Posted by BobAxelrod > 2022-05-16 13:29 |

Post removed.Why?

Posted by BursaVulture > 2022-05-16 13:30 | Report Abuse

I think PearlWhite probably enter Serba around RM0.35, with current RM0.12, that is -RM0.24, which is about 65% down. PearlWhite lost so much, Serba needs to go up by 150% for PearlWhite to breakeven.

Posted by BobAxelrod > 2022-05-16 13:44 |

Post removed.Why?

Posted by sailang_now > 2022-05-16 13:52 | Report Abuse

Based on its latest annual report, Serba Dinamik Holdings Bhd has in excess of 69,500 shareholders. The company’s market capitalisation is now down to RM315 million.

Serba’s market cap was close to RM6 billion a year ago, when KPMG PLT red-flagged its accounts and reported the matter — as required by law — to the Securities Commission Malaysia (SC). KPMG’s audit alert was the start of Serba’s fall from grace.

In the last one year, its shareholders have lost 95% of the value of their shares in the company. The company is battling creditors and needs to come up with a scheme to restructure its debts of RM1.8 billion and US$42.4 million to lenders, including bondholders.

Shareholders are sitting on a RM5.5 billion wipeout in paper losses.

The four directors of Serba who were hauled up by SC for furnishing false information have paid their fines totalling RM16 million, which is a measly sum compared with the losses suffered by minorities.

Bankers have filed a winding-up petition on Serba and are seeking to appoint an interim liquidator to recover the debts. The company has assets but it is unlikely that the bankers will be able to fully recover the amount they lent to Serba.

As for the shareholders, they have little choice but to hold on to their shares and hope that the company’s fortunes improve, which is almost impossible. Past examples show that companies with huge accounting discrepancies do not recover and are finally delisted, leaving shareholders with nothing.

Posted by BursaVulture > 2022-05-16 13:58 | Report Abuse

Go fight in court if done nothing wrong, dont give lame excuse like pay fine to save the company and workers.

Posted by BursaVulture > 2022-05-16 13:59 | Report Abuse

Karim can rename Serba into whatever name he wants, maybe Maya for Meta in Malay since he loves buzzword and Meta is Metaverse. I can tell you no investor or banker will ever trust him again, never.

Posted by paulthesotong > 2022-05-16 14:00 | Report Abuse

so how come Nobody fire the GFN BOD...?

Posted by InvestorKING > 2022-05-16 14:03 | Report Abuse

This round if SD if dropped again below 0.10, I will really ALL IN already

Posted by InvestorKING > 2022-05-16 14:30 | Report Abuse

Previously waited at 0.05, conned by all these naysayers, couldn't even get anything there, even 0.06 also cannot get. Anyway I think even if 0.10 also very good buy

Posted by paulthesotong > 2022-05-16 14:31 | Report Abuse

drK , debts are real 3b ,4b ,5b.... others are not!

Posted by RWG > 2022-05-16 14:34 | Report Abuse

evergrande =serbak

Posted by DickyMe > 2022-05-16 14:55 |

Post removed.Why?

Posted by DickyMe > 2022-05-16 15:09 | Report Abuse

"BursaVulture

even if Petronas do bail out Serba, they will never pay for Rm1.60. Gov also never pay high price for MAS, even Proton was privatize below the peak. Stop dreaming. Sell before it is too late to leave."
=================================

Are you sure gobermen did not pay high price for MAS?

See this, in case you are biased.
https://www.malaysiakini.com/letters/7351

Posted by 8899EL8899 > 2022-05-16 15:25 | Report Abuse

look at government bailout tabung haji recently,........government pay in full amount that tabung haji spent on the assets,........today government have to absorb more than rm5bil. loses,.......all politician keep quiet on the matter,.......

Posted by BursaVulture > 2022-05-16 15:28 | Report Abuse

DickyMe

That was mahathir bailing out his friend, because he told his friend to buy MAS from the gov/bnm when Mahathir gambled most of our money in the forex and lost it. The bailing out was a gentleman agreement.

Am talking about the privatization of MAS, the delisting.

https://www.nst.com.my/news/2015/09/mas-shares-be-delisted-bursa-malaysia-dec-31

Retailers that bought high all lost money.

Posted by 8899EL8899 > 2022-05-16 15:33 | Report Abuse

pak karim kuat,........serbadk tak perlu bailout dari government,........petronas bagi big project ,.........selagi bank tak tarik balik pinjaman ,........itu sudah cukup,........hidup serbadk, hidup pak karim

Posted by DickyMe > 2022-05-16 15:34 | Report Abuse

Whatever it is, GLCs or bumi companies are burden to Malaysian economy with their constant losses and need for continuous financial assistance.

https://www.malaymail.com/news/malaysia/2017/12/18/study-glc-bailouts-cost-putrajaya-rm85.51b-over-a-period-of-36-years/1535385

Posted by supafly83 > 2022-05-16 16:30 | Report Abuse

I just love all the hate and bearish sentiment. Just makes me so bullish.

Posted by DickyMe > 2022-05-16 16:34 | Report Abuse

Yeah sure! Why not? It's not your money right?

Posted by RWG > 2022-05-16 16:39 | Report Abuse

many glc company all chiak liao liao

Posted by BursaVulture > 2022-05-16 16:52 | Report Abuse

How to pay back the bond and loans? Can someone explain? These bond and debt dont disappear overnight. Or maybe Karim will bring back all the money he stole and pay back the bond debts?

Posted by DickyMe > 2022-05-16 16:57 | Report Abuse

" Posted by BursaVulture > 1 minute ago | Report Abuse

How to pay back the bond and loans? Can someone explain? These bond and debt dont disappear overnight. Or maybe Karim will bring back all the money he stole and pay back the bond debts?"
=============================
Mabel will do strip dance to raise some funds. The other bootlickers will go around with their begging bowl with sheepish smile on their face requesting donation.

Posted by Abdulk > 2022-05-16 17:02 | Report Abuse

Whatever it is, I am waiting for my 6 cents share to buy. Anyone can sell?

Posted by izoklse > 2022-05-16 17:18 | Report Abuse

Serba Dinamik: The Truth

https://www.malaysia-today.net/2022/05/15/serba-dinamik-the-truth/

Posted by DickyMe > 2022-05-16 17:23 | Report Abuse

"Posted by williamh > 38 minutes ago | Report Abuse

I will rather pray that this bumiputra own company will regain and recover ultimately with a few adjustment"
==============

Even if you pray nothing can turn it around with the same behaviour or way of managing.
You need INTEGRITY AND RESPONSIBILITY plus CREATIVITY.

Posted by izoklse > 2022-05-16 17:45 | Report Abuse

Report: Serba Dinamik CEO claims ‘hidden hands’ out to destroy company and plot his downfall

https://www.malaymail.com/news/malaysia/2022/05/16/report-serba-dinamik-ceo-claims-hidden-hands-out-to-destroy-company-and-plo/2059147

Posted by cicakman > 2022-05-16 17:45 | Report Abuse

It is not taking photo or video you are in night club joget2,drunk,or making love with prostitutes in order to destroy Serbdk.

IT IS 100% PROVEN FALSIFYING ACCOUNTS AND VERIFIED BY ALL PROFFESIONAL EXTERNAL AUDTORS.

ANY REASONS OR EXSCUSES ARE UNEXCEPETABLE.

Posted by izoklse > 2022-05-16 17:48 | Report Abuse

“We do not have any ‘godfather’ or ‘strong political connections’ to shield us,” he said, while refusing to reveal the identity of the alleged perpetrators as investigations are still underway.

Posted by cicakman > 2022-05-16 17:50 | Report Abuse

The Co Founder know the really true stories and that is why he has been disposing his share way back before KPMB findings.

Posted by izoklse > 2022-05-16 17:50 | Report Abuse

Abdul Karim further noted the impact of the unwarranted attacks which had taken a huge toll on the company and himself, resulting in a free fall of the company’s shares and a winding up petition from its creditors.

“All allegations levelled against me and Serba Dinamik have the end goal to remove me from the corporate scene and portray an ultra-negative image of me.

“All allegations are untrue and as mentioned before, due to sub judice, I have been keeping quiet. Now, it’s over,” he said.

He also expressed frustration at the various published news articles on the allegations surrounding the company without proper facts being portrayed, which he said was out of his control when the case was before the court.

“As for debunking the allegations, I have worked extensively with our legal team in doing just that where it really mattered, in our representation to the AGC to have the charges compounded.

“I must point out that this was in fact successful, in that the AGC saw that the charges were very problematic, and that there was insufficient evidence to succeed with any prosecution.

Posted by izoklse > 2022-05-16 17:53 | Report Abuse

“While it was frustrating to have various media articles published on the matter without the facts being properly portrayed, there was very little I could do about it in the media, and I very much doubt that some publishers would have printed what I had to say accurately,” he said.

Abdul Karim also said the matter could have been handled better by the various parties involved instead of dragging the oil and gas company to court, while shifting the blame to the company’s then auditor KPMG where the problem allegedly started with the way the auditor handled the issues.

“Instead of first working with the management to address the alleged issues, many of which were without any basis, they reported it to the Securities Commission without attempting to get a response beforehand.

“This was compounded by the SC’s subsequent hasty actions that included searching our premises and laying charges without investigations being completed.

“Once the charges were laid by the SC, we had to take action to prevent the matter from getting out of hand.

“We truly believe that the actions of KPMG, the SC and the subsequent auditor EY Consulting escalated matters unnecessarily, and our various legal actions were an attempt to settle everything so that it could be properly addressed,” he said.

Posted by SHQuah > 2022-05-16 17:53 | Report Abuse

Tomorrow open 13 cents slowly going up to 15 cents. End of the week 20 cents.

Posted by izoklse > 2022-05-16 17:55 | Report Abuse

With the legal troubles with the SC now resolved, Abdul Karim said his aim was now to get Serba Dinamik back on track again before imploring stakeholders to stick with the company.

“We are here to stay as a major player in the market. The recent events are only a minor setback and will not deter us from surging forward with the many projects we have planned and are in the pipeline.

“We will work hard to earn your trust and take this company to greater heights,” he said.

Posted by izoklse > 2022-05-16 17:57 | Report Abuse

Tomorrow macam boleh up woo. Karim stay and will convince the BOD to stay and working on it.

Aiyo menyesal pulak aku jual hari tu walaupun untung sikit, Adeh.

Posted by Huangbk72 > 2022-05-16 17:58 | Report Abuse

Debunking allegations?

What about KPMG and EY findings?

Hahaha..

Normal PN17 or sinking company CEO will talk about new projects, new business plan, successful banks restructuring to appease the shareholders. All these are within his control.

Its confirmed dead-end for Chef Karim when he has to use conspiracy theories:
It is 100% confirmed banks will not talk to him on bla bla bla restructuring.
It is 100% confirmed this year, SD revenue will drop to historical low.
Chef Karam already given strong hint.

Dont blame him later.

Posted by izoklse > 2022-05-16 17:58 | Report Abuse

He also dismissed a suggestion that agreeing and accepting the compound meant admission to some level of guilt.

“Accepting the compound doesn’t mean we are admitting to being guilty.

“We also realised that continuing the legal route would take years and the adverse news would prevent the company from obtaining financial support or bidding for contracts.

This he said was because ongoing legal battles would also mean key employees would be restricted in their duties, not least having to give evidence in court.

“Paying the compound allows us to continue with business as usual, and quickly earn the revenue to repay our creditors and generate profitability to pay dividends to our shareholders,” he said.

Posted by izoklse > 2022-05-16 18:00 | Report Abuse

Nonetheless, Abdul Karim hoped the authorities would investigate those allegedly behind the plot, adding that reports had been lodged with the relevant enforcement agencies.

Posted by izoklse > 2022-05-16 18:09 | Report Abuse

SHQuah i also believe that the price will move up as Major Shareholder already give his first statement after paying compound and give reissuance that he will stick with Serba and not going to sell his stake. Arghhh kena plan balik strategy to buy back this counter SD, SCIB and KPOWER. Semua ni akan gerak.

Posted by MiaoMiao7 > 2022-05-16 18:11 | Report Abuse

Izoklse

Yeah, give his word? Like they did not commit fraud? Like everything BAU? Like how they can pay the bond?

Serba going to zero