KUALA LUMPUR (June 8): Serba Dinamik Holdings Bhd's creditors have agreed to stay their applications for winding-up proceedings and the appointment of an interim liquidator on the condition that the beleaguered oil and gas group complies with payment timeline and contract order.
Lawyers for both sides informed Justice Nadzarin Wok Nordin of the arrangement during case management at the High Court on Wednesday (June 8).
The creditors who are petitioners in the winding-up application were represented by lawyers Datin Jeyanthini Kannaperan and Benjamin Dawson. Also in attendance were Datuk John Clark Sumugod and Karen Tan.
Mak Lin Kum appeared for Serba Dinamik and its subsidiaries — SD Controls Sdn Bhd, Serba Dinamik Development Sdn Bhd, Serba Dinamik Group Bhd (SDGB), and Serba Dinamik Sdn Bhd (SDSB).
Sources linked to the case told theedgemarkets.com that the petitioners decided to stay the applications for the appointment of an interim liquidator on the condition that Serba Dinamik's four units comply with the payment and conditions in the contract order under Section 366 of the Companies Act.
"The financial institutions negotiated for safeguards like the appointment of monitoring accountants as well as independent financial advisers to oversee Serba Dinamik," they said.
The sources also said that if the firms do not comply with the conditions, the petitioners will proceed with winding-up proceedings.
"If they don't comply then the petitioners will go back to the winding-up court," a source said.
Ok, sapura back to ground for a new dream with new low but sorry, nightmare for those chase high last few weeks. serba is like awaiting for the judgement since stabilizing for days..........
SE Mabel beli aje, This is turnaround company.So many valuable assets worth Billions.Sentiment play by government. Operator purposely pressing down the price to collect another round.
SD lead by a Magician – Creative, artistic and expressive
Serba Dinamik Holdings Bhd's creditors have agreed to stay their applications so it's BAU. Operator purposely play swing to entertain some monkeys here.
For those who dares, Invest in bad time and sell in good time and you will get rich..
SD is operating in a specific industry ie oil and gas,hence its assets are mostly of specific nature.general industries are believed not to be keen to buy.
The assets can only be sold to specific industries.if these specific industries are either not keen to buy or buy at the cut throat price,SD's worth of billion of assets is only a dream....
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....
Mikecyc
44,786 posts
Posted by Mikecyc > 2022-06-08 11:02 |
Post removed.Why?