The board of directors of the Company wishes to inform that upon announcement of the Winding Up Order, the board of directors of the Company becomes functus officio and cease to have power in relation to the affairs of the Company save and except that the board retains residuary powers to appeal against and/or apply to set aside the Winding Up Order. Any further queries in relation to the affairs of the Company are to be directed at the Liquidator of the Company.
The board of directors of the Company wishes to further inform that the board is in the midst of seeking legal advice to appeal and/or set aside the Winding Up Order.
The losers here are not only confined to the shareholders nor those involved as employees, suppliers, creditors or financial supporters and bankers, BUT REACHES AND AFFECTS EVERY SINGLE INVESTING PUBLIC OF MALAYSIA. The tarnished image and ill reputation spilled from the laughable penalty and punishment passed seems like just a RM3 million parking ticket as compared to the enormity and unimaginable misused/missing funds.
Tell me, which other would not be tempted or even seduced to such despicable proposal, laundered and enriched themselves and only pay some pocket shillings as Fines???? That person/s must have his head examined should he abstain from taking such a proposition.
The case was "opened and closed" since last year with the AGC opting to fine the offense and even involved in changing several top management of SC........YET SOME NEWCOMERS to this party are now yelling for JUSTICE from AG and SC????????
Take a good look at the Sam Bankman-Fried crypto fraud case just last month in America. He was arrested and bail set at USD250 million, the highest in American court history. He could face life imprisonment and all his wealth confiscated.
And not to mention Madoff's ponzi schemes which not only destroyed his family, but his eldest son committed Suicide due to unbearable shame and mental stress......
Here in Malaysia, RM3 million and you walk free as a bird.................
Basically Equity shareholders can kiss and say goodbye to their investment in SD.
Their compulsive averaging and more averaging was devastating and it didn't always work.
Secured creditors stand to lose as they don't expect to recoup all their investments through funding to SD.
That bunch of jokers and clowns (DR.k and his gang BOD) are still at large and cherishing their triumph on conning the above so called "smart investors"
Story might Ends today But our Court system allows Appeal thru Appeal Court and later to Federal Court. All in all might takes another 3years to settle down. See Karim wants to go that far Or Not........may buy him time to recycle siphon off money
The system to manipulate share price has ended, no doubt, but the story is far, far from over.....Directors' personal Guarantees and probes, forensic auditing........
To assume that they are now starting to think of washing funds is very amateurish..... the plan from A-Z was hatched years ago.....to the dot with money landing precisely where they should be............not just the thing to think about at this juncture.
In this country, the crooked weasels who cheat investors and banks go on to live lifes as usual even as the losing banks and creditors are busy scrambling to pick up whatever scraps and pieces left behind. The good parts already stowed away to put to use in another scam fronted by another batch of weasels looking for another group of suckers to hand over their hard-earned money.
IF the clock can ever be turned back, one wonders if the Attorney-General (AG) would have ruled differently by not letting Datuk Mohd Abdul Karim Abdullah off the hook with just a ‘light slap on the wrist’ compound but instead allowed the criminal proceeding to continue against the Serba Dinamik Holdings Bhd CEO and group managing director.
This is because if the founder of the integrated international oil & gas (O&G) outfit is tried in court as per what is the norm, he would have had his passport confiscated and even be held responsible for what many disgruntled retail investors claim as “swindling and siphoning their hard-earned money”.
To add salt to the deep wounds of Serba Dinamik investors (and perhaps bankers and vendors), Karim is now presumed to be residing in Dubai.
Actually this is a daylight fraud and mismanagement. many got fooled including me. Govt. need tighten the oversight and penalty for fraud, including compulsory imprisonment.
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 557 views | 2 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 605 views | 7 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....
1invest1
1,467 posts
Posted by 1invest1 > 2023-01-10 22:52 | Report Abuse
Investing is no simple game.
Don't buy penny stk unless did due diligence
Talk to experienced investors you trust !
Buy cheap stk hoping to make fast money ?
Fast bet usually becomes FASTER LOSS.
GREED NEVER PAYS.
Buy blue chip that is around at least 50 yrs
BUY ONLY TRUE BLUE CHIP STKS LIKE
Public Bank Bhd
Tested, proven,& still going strong, stronger