"Additionally, it was admitted that across the Serba Dinamik group, even if there was immediate sale of all assets available for disposal and for which there are said to be purchasers (sale of assets was intended to be over a period of months and, in any event the veracity of such sales is suspect and such claims denied), this would only yield a total of RM157 million.
“This sum is insufficient to make payment of the liabilities under the acceleration notice,” said the petitioners.
Sorry to say that SD has basically been pronounced to be perished with no hope of revival.The final curtain has closed like the ex-pm ,reaching the end of the road of no hope....
IL was appointed by court because of the agreement in June. Creditors have to agree also. Of Course Serba cannot say no...
Serba Money has been sanction. So how to pay?. Pending Court case on 19 Sept to unfreeze.
On 4th June 2022, Serba has listed the 2 assets to dispose at appro. 220mil. I suppose it is currently WIP. Beside, Petronas just renewed their contract until May 2023.
As for Najib, not that I'm a supporter of Najib. This is Malaysia Mah, 50-50 Chances Najib may get Royal pardon. Remember DSAI stories?
Anyway, both are totally unrelated with each others.
So Mabel will not jump into conclusion yet. Until it is totally windup or delisted, Mabel plan to switch to Gear 6 is still on target. Let see what happen on the 19th September..
Like Mabel said this morning, Mabel Top 2 Strikers, Dnex Lionel Messi and Sapnrg Thomas Muller are on attacking mode this morning. Both of them were standing hot on the podium. Serba Cristiano Ronaldo is still sleeping like a baby while DK and his Team were working to meet dateline.
So as usual, Mabel will continue to Goyang Kaki and let DK and his team fix the issues. So nice having hardworking team working for Mabel..
Nothing's wrong to be positive and hopeful but one has to be realistic and discerning.
All the negative signs shown and the current circumstances arisen so far are harbingers of excalating the winding up process rather than delisting on the agenda.
Nadzarin found no dispute in the Consent Order entered into by the parties on June 8, which "expressly states" that in the event of a default, Serba Dinamik and its related companies "shall not object or oppose the appointment of an IL".
"It is also not in dispute that the scheme of arrangement has provided for the first tranche of payment to be made on or before Aug 12, 2022, and that the terms of the scheme were inter-conditional, and the scheme has now been breached by the failure to make payment before the aforementioned date," Nadzarin said.
"It is my decision that the parties are bound by the terms in the Consent Order and that the Consent Order must be given effect thereto," he added.
If you want to Invest go for other counters. There's more than 1000 companies to choose. However this 3 including our Dnex are an interesting case study for Mabel. The best learning experience by having her stakes in it. Previously in Barakah PN17, Mabel made 800% Profits. People were dumping at 1 sen and she continue to collect. She locked her profits at 8 sen. Only used excess money, be patience and most importantly, no margin call..
I'm not expert, and i also no need to act as expert, to predict this, to forecast that, what i know is i have enough money to play until it end game, even lose then lose la, make noise at here for what, if want win don't want lose, go put FD la loll..
In the case of PERNAS, Agreement is Agreement ,be it " put option" or " call option" . Agreement is mutually made subject to the fulfilment of the obligations and or duties of both parties. If one party is in breach , the other party has the right to seek remedy and vice versa. Where one party is still in dispute and settlement can not be amicably resolved , then both parties will leave it to the wisdom of the Court to judge who is in the wrong. Until then , you and me are not in a position to draw any conclusion.
Introducing MY's First IPO Fund for Sophisticated Investors!
MQ Chat
New Update. Discover investment communities that resonate with your ideas
MQ Trader
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
MQ Trader 209 views | 1 d ago
0:17
New IPO: An enterprise IT solutions provider that provides implementation services, maintenance, support and professional services, Vetece Holdings Bhd aims to list on the Ace Market!
MQ Trader 437 views | 5 d ago
0:17
New IPO: A manufacturing and trading of biomass fuel products, particularly PKS and wood pellets company, Elridge Energy Holdings Bhd aims to list on the Ace Market!
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....
sting79
760 posts
Posted by sting79 > 2022-08-23 22:29 | Report Abuse
"Additionally, it was admitted that across the Serba Dinamik group, even if there was immediate sale of all assets available for disposal and for which there are said to be purchasers (sale of assets was intended to be over a period of months and, in any event the veracity of such sales is suspect and such claims denied), this would only yield a total of RM157 million.
“This sum is insufficient to make payment of the liabilities under the acceleration notice,” said the petitioners.