Good morning, at last, Kacang Putih talking about share dealing manipulation. At least now, while still late, the Kacang already baked. Should have warned people to beware from day 1.

I am not aware that he has got lots of collectibles. What I know is he has got lots of other oil majors' rubber stamps.
joyvest
Well, SD doesnt have to resort to external borrowing for the working capital . SD could make use of their internal fund collected from the receivables ( tons of money awaiting to be collected as claimed ) and/ or could issue right issues assuming all the existing shareholders would support to subscribe otherwise SD will plead the Government to subscribe through GLC or Government Investment arms by hook or by crook ( you know what i mean ). The circus of show will continue....

14 seconds ago

Looks like the syndicate is supporting the price at 16 sen. Their profit-taking is not over as yet.

Wrong, equal numbers of RM for win and loss, only Karim and gang win.
Posted by cicakman > 22 seconds ago | Report Abuse
Everybody who makes moneys must thanks Karrim.If he didn't cheat ,you got nothing.

Assuming that the scheme of arrangement is accepted by lenders. The next stop would be the Serbak requirement for working capital as in OnG industry requires lots of working capital, who is going to lend them to pay off the current trade creditors who will institute legal actions if no payments are made?
joyvest
Judging from the reaction of the market , it is unlikely that the Financial institutions would be prepared to accept the scheme of arrangement by 25th May. The scheme of arrangement is believed to be prejudiced to the position of secured creditors. Conversion of substantial debts into equity shares valued at far fetching price , deferral of repayment to longer terms, impairment of certain portion of debts etc etc are all unacceptable to the secured creditors.

10 minutes ago

Any one of creditors refused to accept the scheme proposed by Serbak, liquidation will be the road to travel. Debt restructuring meant more shares will be issued and no moratorium once issued which will drive the price even lower. Debt deferment meant the creditors are there to collect within the predetermined timeframe, meaning Chef and management work to pay off lenders and scr*w the shareholders. Share value will not improved in the long run. With Chef lack of positive reputations, lenders will probably not defer. So issuing more shares will be the ultimate solution besides liquidation.
Assuming 15 billion or more shares are issued, current holders will have nowhere to sell but 1 sen per share.

Serba Dinamik's counsel Mak Lin Kum also informed the court that a scheme of arrangement was also filed on Friday.

However, the creditors and financial institutions who are petitioners in the winding-up led by Datin Jeyanthini Kannaperan, Benjamin Dawson, Datuk John Clark Sumugod, and Karen Tan informed the court that they have to seek instructions from their clients over the proposed scheme of arrangement.

Jeyanthini appeared for the syndicated lenders, while Dawson appeared for the bilateral lenders including HSBC Amanah, Sumugod for Bank Rakyat and MBSB, while Tan for Hong Leong Islamic.

Financial institutions to give feedback on scheme of arrangement on May 25
Mak informed the court and parties that the scheme of arrangement may involve debt restructuring and debt deferment.
https://www.theedgemarkets.com/article/june-8-fixed-hear-creditors-app...

Why today only 156 mill? Yesterday all big holders sold? The end is near?
posted by BobAxelrod > 3 minutes ago | Report Abuse
Ships can only sail out from Port at high tides........yesterday over 1 Billion shares traded was creation of high tide?????

Chef and gang want to nego with bankers and bondholders. He better has more than a fantastic plan to revive Serbak. His words has no value at the moment.
Posted by BobAxelrod > 1 hour ago | Report Abuse
The amount sought by 6 local Bankers is RM1.7 Billions and there are also hundred of Creditors seeking RM1.5 Billions.

Should the Bankers even agree to withhold Litigation, they must at first obtain Judgement from Court. And should Bankers agree to 50% recovery, that would be RM850 million..........

Then, there are those in queue for their piece of the bones........

Wrong, he does not want to go to jail, dare to break the law but dare not face the consequences. If you follow what he said, you will be facing Holland soon.
Posted by adikkici > 3 minutes ago | Report Abuse
Karim will do everything to save SD

Right strategy, those who sit and wait will be permanent suckers.

Posted by rr88 > 2 minutes ago | Report Abuse
Dont be naive n dont try to be a hero. This is trading. Up 0.5 - 2 cents you take yr profit. Down 0.5 to 1 cent you lock in yr losses.

You constantly buying n selling in trading to manage yr risk. I bought n sold 17 times yesterday. 12 times profitable, 2 times breakeven, 3 times losses. You dont buy n wait for market to decide yr luck. You take charge, you take control. Got it boys n girls?

How humble Ramly Burger founder can put Sapura, Serba to shame
That Ramly has grown his business without any element of favouritism and cable pulling has actually made Ramly Burger what it is today. On the hindsight, supposedly if Ramly were to indulge in the game of rubbing shoulders with politicians at the outset of his business venture, there is obviously a high chance that Ramly Burger wouldn’t be around anymore.
https://focusmalaysia.my/how-humble-ramly-burger-founder-can-put-sapura-serba-to-shame/

Morning, after Divi, rights issue cumming up at 5.5 sen.

Morning, as I said many times, only a quarter of fantastic result or rather a few quarters and big boss start sapu will the counter lift up to the sky.

Good morning, unbelievable, I woke up this morning and stared at a Twitter message where an ex DPM asking for divine help in his money laundering and corruption case. And here too we have Chef and gang cooking up books and alleging a conspiracy of others for his predicament. Questioned is where you wish to commit any act that you knowingly knew is against the law please don't blame others and plea for divine assistance.

Posted by DickyMe > 31 minutes ago | Report Abuse
"Posted by Sslee > 1 minute ago | Report Abuse

Many people still believe Najib is innocent and money in his bank is donation from Arab."
=====================================

I don't think so. They know he is guilty but they are not concern.
It is sentiment: "Biarkanlah! Orang kita, kita mesti jaga orang kita."
It does not matter how it is earned. But they are religious!

Wow, Awang sudah lari cepat2, apa macam tak de harapan lagi ke si- Serbak?

Wow, Hiap Tek sifu suddenly disappeared. Thought he charges members for his call to buy?
Tankt88
MoneyMakers

OTB used to sell similar dream @ TP rm1.2..now all become baghodlers

Unfortunately alrdy too late 4 regrets..OTB alrdy run away with everyones money @ move on to nxt syndicate pump&dump stock


Fu ..uk otb

3 days ago

Euphoric rumours government taking over Serbak? Just wait a long long time yah............ Need plenty of dreams yah........

Actually, if you read my earlier post was to Mad Cat. They are hoping Serbak will be back to 50 sen in a year's time. But my argument is how to make it to 50 sen if the company has got no working capital to complete their projects as the O&G industry required huge working capital & lenders are after them.
8899EL8899
alenac,.......pak karim to pay back the bank borrowing & bond?,..........i doubt about it,........if they want to do that,........6 months ago, the default issue have been settled,.......today ,they are planning for restructuring serbadk debt,.......mean money gone,......they may write- off a lot of things ,.......shareholders have to pay for the loses,........your investment gone

10 minutes ago

well, that is Karma of the capital markets. Just like KLSE China-listed companies are shunned by investors.
BursaVulture
Karim may be a Chinese Muslim, but Serba's board is majority stuffed with bumi. The gov literally killed future bumi companies in Bursa with low valuation moving forward. Save 1 company and destroy hundreds of other good bumi companies. Smart.

3 minutes ago

Yeah, obviously, the Stonemaster case was traceable right up to China and back.
BursaVulture
This will be the end of majority of bumi run companies in Bursa. No sane retailers and bankers will want to be involved with them long term, valuation will be low due to the reputation. Not that Chinese or Indian run companies are better, just that no Chinese cheaters got away with fraud when caught with evidence, all ended up in prison.

Easy to talk than to have it done. Assuming Chef and the gang have siphoned all the cash and they have until today holding them somewhere overseas. They will not want to bring them back less it will be traceable to the original source. Another charge will be waiting for them and this time will be AMLA and others.
EVO118
Karim's logic is.
What the hell, just pay it and get it over with. Prolonging it is just going to make it worst. After all it is that easy to siphon the money earlier. There is always another chance to take it all back again if we can get the move on.

22 minutes ago

You are right EPF should sell MBSB to a more aggressive entity and remain as a passive investor.
Loy Loy Cheong

Referring to the youtube video on whether if MBSB is a good investment, the negatives aspect that were brought up can all attributes to the poor or bad management on the company. I have been right all along that the management team are a brunch of wasted fellas which ought to be sacked.

3 days ago

Let me know when Chef and gang going to pay back all loans and bonds.
Mabel
#neohts If by end of the year Serba could restructure and remove from PN17.
50 cents should be no problem.
13/05/2022 11:39 AM

Yes Lah...Mabel thinks the same too..

Meow

1 hour ago

You are right, the reputation of the Chef and gang is gone. No bankers and lenders are going to touch them in future unless they pay back all loans and bonds owing by Serbak. For the oil and gas industry where you need huge working capital, their fate is sealed. The so-called rationalization plan by Karim and the gang is another big bullshit.
BursaVulture
Before that, Karim shout very loud - Do no wrong. If really never do anything wrong, then fight in court lah. Why go find PM and AG and use backdoor to settle? Karim caused many people to lose money, yet these supporters still support and defend him.

It is his 'do no wrong' comment that causes many retailers to double down on Serba and think KPMG was wrong.

No banks will ever support whatever Karim is involved. No investor will support Karim's co. Trust is gone. Once a cheater and liar, forever a cheater and liar.

15 minutes ago

Mad cat dun think you understand, it was Anwar that looked impressive. In the sum up Najib had to admit that governance issues like integrity, transparency and anti-corruption is essential for the future of Malaysia. Of all the people to talk of is Najib himself. Hypocrites are born every minute.

Meaning more shares issued for staff and directors to take up.
Posted by fusing79 > 10 hours ago | Report Abuse
may i know what does it means by " Management Incentive Plan - 3,211,600 shares at 0.210."

Must be the same Joyless person. Anyway, I remember Sumuatake where the "Hunter" fellow was hot selling the counter and took many to Holland. Bumi counters always sell dreams.
BobAxelrod
Ahhhhh...alenac, you must have been reminded and recalled THE Joyvest of Bintai and Solution days.............

14 minutes ago

Good Morning, sex and oats seemed to be odd couple.
Lots of Co*k and Pus*y stories. If you can believe such rubbish story. You deserve to go penniless.
Posted by joyvest > 1 hour ago | Report Abuse
It is said that many bxmi investors have complained to have lost substantially due to "wrong advice to buy call" by so called investment experts ( who are believed to have been "paid " to abet ).

On the above basis, it is believed that the SC would be under " instructions" to assist the aggreived bxmi investors to recoup their losses by approving the regularisation plan by hook or by crook after which the share price is expected to appreciate.....

If the above conspiracy holds true, it is good to buy some now but at your own risk.....

If 2 sen dunno whether syndicate will goreng?

Ppmaster

How low the price can go,really dunno at the moment, need to monitor time to time.

Good afternoon, Serbak will eventually be delisted. Matter of time. If not it will be run by syndicates as in many 2 sen shares companies in the KLSE.

Good morning, Serbak is almost gone. What is left is for the vulture to forage. PN17 imminent. Winding up soon.

Good afternoon, at last the falling knife has reached a level where most would not argue. Horses have left the stable and authorities are toothless and politicians made money screwing the shareholders, creditors and banks.

Chill man, I had my coffee. Just thinking of an outrageous scenario since many are frustrated and angry here.

Kinda like this guy.....hehehe....asking for Funds to work and frustrate the "perfect storm"......Please wake up, it's morning.

Well, maybe not yet to the abyss, prelude to it as the last round would be towards PN17 and delist. Shorting kind of arena on Monday? Does anyone with lots of funds work on a plan to reduce the price spread to frustrate shorting on Monday?

Posted by joyvest > 24 seconds ago | Report Abuse

Basically,no buyers except shortists to close their positions on the 9th.

It is going to be the one way straight plummeting to abyss..

More of speculators will buy Serbak. Every market will have suckers scraping the bottom of the pan. Big risk, big loss but by some miracle dreaming for a turnaround at the very end of the horizon.
BobAxelrod
We have been promised a spectacular show on Monday, an avalanche or massacre of sort. If these 1.4 B shares which is about 50% of NOSH, and additionally the local funds, retailers and mutual funds, it could reach 80%-90%.......basically everyone holding this baby wants out. Buyers = zero, then?

7 minutes ago

Good morning, so Mad Cat is back to suck up Chef and gang disposal on Monday? Good luck on your buy, you all really need it fateful fans of Serbak before it moves into PN17 Status which I perceived would happen.

https://www.malaymail.com/news/money/2022/05/05/serba-dinamik-to-file-regularisation-plan-in-eight-months/2057286

Chef and gang got no money to pay the compound as all their personal bank accounts are frozen. So Serbak post suspension can sell their shares to pay for compound?

"Meanwhile, Malay Mail reported that the SC has granted Serba Dinamik and its top executives a two-week extension to settle their compounds (from April 28 which was the original deadline to pay up)."

“Sources said the company had appealed for an extension which was immediately rejected by the SC. A subsequent appeal was made by the company, citing difficulties in raising the money because their accounts had been frozen,” noted the English daily.

“Following discussions with the AGC, the SC agreed to extend the deadline by another two weeks which is understood to be on May 12.”

A little bird in the know – someone in the PM’s entourage – has revealed that while visiting the Malaysia Pavilion @ Expo 2020 Dubai on the penultimate day of the global trade showcase, the PM had “bumped into” Serba Dinamik Holdings Bhd group managing director/CEO Datuk Mohd Abdul Karim Abdullah and few other directors who happened to be on-site.

This is not surprising given that the global integrated oil & gas (O&G) outfit was a premier partner for the Malaysia Pavilion.

Interestingly, the source also shared that the Serba Dinamik management team led by its head honcho Abdul Karim had a “short meeting” with the PM.
https://focusmalaysia.my/is-there-a-dubai-link-to-the-ags-decision-to-...

Good morning, decision time soon for Serbak losers, to sell or keep for the next generation? Ozark fans have been complaining about the lousy anti-climax Part 2 of Season 4 so do losers in Serbak on 9th May?

Aiyo among Awesome TV's directors are Shoplot chairman and his son.

Dun worry 8899EL8899 said the Minister, our next export products will be ketum and cannabis. Or so we will work towards spreading drug addiction as a way of life for the entire world. Heck we can't beat it we embrace it. Hopefully our land of plentiful will be Asia golden triangle in a few years.

So we hope our Singapore brothers will also legalise both products saving us the burden of appealing for clemency from the hangman's nose each time.

8899EL8899
malaysia have so much of natural resources,......sell a lot of palm oil,........yet, currency keep falling,.....soon become like africa country,......very sad

Good morning, Ozark serial has ended happily, while Serba collapsed has more investors crying and cursing, while the BOD happily go scot-free. Corporate governance politico drama rules the event. It was the AG that gave the decision to let the wrongdoer go scot-free. Will it set a precedent that Bumi company is untouchable and can do no wrong in the capital markets? So investors please be careful when you invest in the Bumi companies.

69

Classic corporate collapses can only happen in Malaysia where main players got exemptions from jailed terms for fraud.

Bad timing, bankers/lenders already applying for liquidation.

ken2004

Sorry to said, making the same mistake twice means you really deserve that to me, from the moment from 1++ drop till 30c++ period, it is already a proven mistake to catch the falling knife, so still dreaming on all the so called good news in 2021, will be another fatal mistake. KWAP quietly already throw all their stock without anyone knowing, those so called PNB, EPF etc have no issue to absorb this total loss at all as they are larger fund where they lost here, they can earn back somewhere.....for you, this is not the same case............my price estimate after 9 May will be below 5c.....

57 minutes ago

Get a contract in a bankrupt country, Nepal just blocks the importation of luxury goods due to a lack of foreign currencies.

Mini Serbak could be anything -staff stealing from shareholders, staff in cohort with directors to steal, fake invoices to window dress turnover etc. The Whitsel blower is a staff and alerts the independent director of what the top managers are doing.
On circumstances leading to the forensic investigation, Caely said: "One of the independent non-executive directors [of Caely] received an anonymous package containing documents raising concerns on several suspicious transactions involving CMSB.”
https://www.theedgemarkets.com/article/freeze-order-lingerie-maker-cae...

Insas, at beta 0.38, movement does not ape CI. Will move at its own pace, slightly difficult to predict. Stable price but not for speculation

Seriously, organised fraud, with fake contracts and artificial sales, expenses, fund flows and imaginary profits and dividends paid all out of funds raised from bonds and rights?

i3lurker

The Edge info on the Fook Fook You means that its Organised Crime.

The Edge info is so interesting that Serba has the rubber stamps of Petronas, Shell, all customers and all suplliers............. shareholders are totally fooked by the Fook Fook You.....

12 minutes ago

Good morning Master-Chef kitchen episode never ending. Drama after drama, longer than Law & Order series on court cases.

Vincent's strategy is good. He appoints a Bumi to lead the group and as we know in finance he is a hopeless lot. Can dream of big ideas but the execution needs lots of money. So trusted VIVIENNE CHENG should be able to stop any reckless scheming ideas and keep the group afloat to pay interests and work for the banks.