Does it really matter who holds shares in a suspended company? Suspension cause shares to be unmarketable and lose their value. Chef is the main culprit. Legal and criminal action has to be taken on the existing management for fraud and other misdemeanors.

Posted by ǷearlꙌhite > Nov 12, 2021 2:00 PM | Report Abuse

.
SC assures the investing public that it has made progress on its investigation and additional resources have been added to the team to ensure the investigation is completed in a timely manner.

Lets see how SC supports the investing public.

Just as a reminder, as confirmed from research houses, the following hold the % in SD.

https://www.bursamarketplace.com/mkt/themarket/stock/SERB/ownership

PNB - 6.2%
EPF 5.0%

The imminent collapse of Serbak, misses interest payment of the bond, another 30 days b4 full default., other tranches of bonds due too. Obviously, he is bailing out before creditors take over.

What started as audit disputes between Serba Dinamik and its former auditor KPMG have evolved into a legal stand-off and soon to be a likely demise of the company?

Serba Dinamik misses coupon payment for US$300m sukuk
Adam Aziz
/
theedgemarkets.com

November 11, 2021 14:40 pm +08

https://www.theedgemarkets.com/article/serba-dinamik-misses-coupon-pay...

Great thoughts about the Serbak group fiasco, however Chef hired a hustler lawyer firm is a defensive strategy ie to delay all authority's actions towards him as he gather enough resources to parachute out of his companies. Whether he broke the law is another matter for SC to decide and to take action.

Posted by PSAi3alert > Nov 11, 2021 12:21 PM | Report Abuse

KPMG settling with Serba?

Hahahaha

FFU (Factual Finding Updates)!


Jul 31, 2021 5:32 PM Posting

"Ex turpi causa non oritur actio" and the need for locus standi in filing an action.

Some thoughts below

A company CEO that is insane will sue everyone that wants the truth on his wrongdoings in SERBAK and other companies.

Delists will be a funeral for Serbak. Oil and Gas companies need lots of working capital, listing status allowed them to tap funds from the capital markets via rights and borrowings. Without all these facilities Serbak will sink. As it is now the company is at the tail end of its life span with Chef still the MD. A new set of directors and management is crucial for its survival.

Posted by gemfinder > Nov 10, 2021 9:36 PM | Report Abuse

Beter delist la. Karim can do watever magic acc oso nobody cares. Kaakakaka

Not the time to talk about shareholdings. It is over. Whoever holding Serbak shares are in distress. Zero value.

Posted by Layman2020 > Nov 9, 2021 8:44 PM | Report Abuse

Thanks , this source trusted? If true then others saying EPF and institution sold off all is simply bluffing. So bad liar

Good afternoon, since when you become a lowballer


Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD

Jul 28, 2021 8:12 AM | Report Abuse

Anybody here dont think CEO KArim will sabotage or shoot himself on his own feet ...except for naysayers and lowballers ...spot on ?


Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD

Jul 28, 2021 8:08 AM | Report Abuse

Relax and chill....CEO Karim oledi knows the outcome...thats why keep shares buyback ...isnt that a good hint to start the ball rolling ?

Dun kid yourself he has to parachute from Bursa and the 3 companies. His days are numbered. All the legal actions are a smokescreen for his departure.

Posted by Mabel > Nov 9, 2021 2:01 PM | Report Abuse

Actually Karim disposing SCIB and K Power Shares is always Good news to Mabel...

More Money to BUY Serba Mother Shares Mah...

Meow

Civil servants are the votes bank for every Malay based party, used to be UMNO votes bank. Whoever gets their votes will be the government. It is politics. Civil servants are treated well by the government of the day, they get full salary during MCO locked down and many other goodies. How long can it last? It has been going on since Merdeka and off course until oil wells run out.

DickyMe "I just Googles “number of civil servants in Malaysia” and found this: The number of civil servants as of March this year stands at a whopping 1.71 million,"

============================================================

Let's do a simple math.
Assume all civil servants are paid minimum wage of RM 1500 per month excluding benefits.

So, 1.71m x RM 1500 = RM 2,565,000,000 (~ RM 2.55 Billion) spent every month to keep the civil service machinery running.

Therefore in a year, RM 2.55 x 12 months = ~~ RM 31 billion. Mind you, it is just bare minimum with assumption that everyone earns RM 1500. The reality is different, which could double it up to RM 62 billion with all benefits and other salary scales
included.

It's mind boggling expenditure.
08/11/2021 8:59 PM

Now sue Bursa, last time KPMG. Chef is not capable of doing business when you insist to sue everyone. Think you are always right. The so-called simple issues can be readily resolved statement thrown into the wind, cannot be immediately reported by EY? Why, Mr Shoplot Chairman?

Aiw Siow https://www.bursamalaysia.com/bm/market_information/announcements/comp...
08/11/2021 4:03 PM

Whatever results no one will believe as long as Chef is there. Time for him and existing directors to sell off and time to be replaced by a new set of shareholders and directors.

gemfinder Same same. Future wil report loses
06/11/2021 12:29 PM

Rather Timah whiskey or Fat-timah
............
....Them good ole boys were drinking Timah whiskey 'n rye
..............
Posted by i3lurker > Nov 6, 2021 9:55 AM | Report Abuse

I started singing bye, bye, SCIB
Drove my Proton to the levee but the levee was dry
Them good ole boys were drinking whiskey 'n rye
Singin' this'll be the day that I die
This'll be the day that I die

The sky is falling for all Chef counters, better be safe than sorry. If you want to kill yourself from poisonous meat go ahead but don't bring others along.


Posted by linheng > Nov 6, 2021 4:28 AM | Report Abuse

I have only managed to buy some poison meat at 49.5 cents. All the 49, 48.5 and lower all not done for the past 3 mkt days. People love keeping poison meat.

Many still don't understand the meaning of trade suspension compounded with uncooperative CEO, credit rating downgrade, SIR pending and numerous other issues to be resolved by the management of Serbak. The group of companies are sinking on the foundation of quicksands.

Posted by Sneakpeek > Nov 5, 2021 7:53 PM | Report Abuse

Fitch forecast free cashflow to be negative for the next three years

CCC rating somemore...gone case

Soon Kpower will be suspended for being unable to resolve intercompany transactions?

Insane reasoning. If these companies are involved in creative and fraudulent accounting of their profits, the government will still bail out these companies?

Posted by SHQuah > Nov 5, 2021 7:28 PM | Report Abuse

There is no way Serbadk, Kpower and SCIB to close down. A few thousand Bumiputra will lose their jobs. Government won't let this happen.

Serbak is not bankable with a CCC rating. So how is it going to refinance its debts papers due next year of RM2 or more billion? Another rights issue will sure drive it to way below 5 sen if Bursa lifted the trading suspension?

In August, international rating agency S&P Global Rating cut Serba’s rating to CCC, which means banks cannot invest in its debt papers. The rating agency also pointed out that the company’s ability to refinance its debts of RM1.7 billion will depend on the completion of the SIR and the statutory accounts for FY2020.

https://www.theedgemarkets.com/article/alternative-views-unprecedented-developments-serba-dinamik

Yeah, lurker is right, more important is who was the sex partner last night Devali eve celeb drunken stupor than a hangover on Serbak.

wongchin Today i give a thumb up up for lurker comment. Its the best comment n sincere comment i hv read today. Keep up the good comment. Kong yee chai pls read lurker comment ya.
04/11/2021 1:12 PM

First, it started with the Serbak Audit fiasco and ended up with its suspension and now a related company is about to suspend. Along the way too many red flags on the chef's management as he is unable to extricate from the dire situation ....... not much hope left............ suspension may be for a long time...........shareholders holding worthless shares...

Posted by joyvest > Nov 4, 2021 1:25 PM | Report Abuse

They know suspension is confirmed to be long time.its better for them to liqudate now and buy back at lower price in penny

Chef group of companies falling like 9 kingpins. Is there hope left? Only fools tread among deceitful businesses.

Good in S*Cking much better.

amateurJR Mabel in pembohong list. Haha! Mabel not pembohong, just good in talk cock.
03/11/2021 2:40 PM

Wow, sad Chef kept on disposing of. Can Calvin be more informed about Kpower than Chef?

Looks like inter companies transactions hanky panky has gone fart?

getingreal Karim who must be in possession of the reasons SCIB has not been able to get its accounts audited dumped another 12,817 shares in SCIB today, this is in addition to the over 14 mil shares he sold on Friday. We can only wonder at Bersa inaction on Insider trading again!
01/11/2021 7:11 PM

The suspension is to prevent the owner from bailing out or making profits from trading in Serbak, which he has done just before it was suspended using information not disclosed to the public.

Hahahah when already suspended still talk C**k about this car.

Posted by Ppmaster > Oct 30, 2021 11:42 AM | Report Abuse

Mabel, now you talk good or talk bad on this counter no use anymore, becos it may continue suspended till delisted. No chance to trade anymore. Hope this wont happen.

Just show the end is near for Serbak under existing management. High time they change Chef. The kitchen stinks to high heaven.

Posted by Nikmon > Oct 29, 2021 11:09 PM | Report Abuse

Anyway SD still under suspend, and those stupxd investor stuck sleepless every night.....use brain when invest don't support this kind of company, scold other lousy auditor, fight against Bursar....really amaze still got investor support them....useless.

Pitiful he has lost so much until no rational thinking left.

In all honesty, ketum boy, the biggest shareholder is Chef and he wants the banks to pull back his loans on all 3 counters and forced sell in the 2 active counters due to Serbak suspension?

Posted by Honesty > Oct 28, 2021 8:52 PM | Report Abuse

Holders want it to be suspensed until the positive SIR
While the by standers want it to open before the postive SIR
Why so contradicting??
wkakaka

Ketum boy, has just optimism left and nothing else. Face reality Serbak is suspended until it complies with Bursa demand. Meanwhile, all counters linked to Chef is sinking into oblivion, in less than a week of suspension.

Honesty Alot of by standers trying to come in but was locked out !! So now they are cursing and complaining how bad it is inside !!
Sour Grape ~~
Outsider cannot come into the gold mine!!
28/10/2021 8:40 PM

Ketum boy, the SIR is not positive, if positive Chef will willingly comply to Bursa disclosure demand. The writing is on the wall, it is just that under the influence of ketum you do not see it.

Wow, you are still on ketum. Pity you. Face reality you have lost to thieves and robbers. Still hallucinating over Serbak.

Chef very wrong move of dabbling in his own shares when he has privileged info on SIR, thereafter, Serbak got suspended and today Kpower and SCIB down badly to 43 and 23 sen respectively. Chef got to resign from all these companies to save himself from more embarrassment and plunging net worth.

Another fantastic call to buy, let Karim buy back his shares from the banks first, then we can talk about privatization.

Posted by bnmacai > Oct 27, 2021 10:01 PM | Report Abuse

If it is goes 20 cents, just buy. Why? Because Karim will take it private. This is one of the way out from being scrutinized

yeah banks holding Chef shares as collateral will have to recall his loans as they are unable to sell those shares in the market.


Posted by leno > Oct 27, 2021 9:54 PM | Report Abuse

With ZERO cash
and MASSIVE DEBT
on top of FRAUD Accounting
Sebak is Dead.

In all Honesty, you have lost your bet to thieves and robbers, as some forummers noted about Serbak managers, not schoolboys or small kids.

Posted by Honesty > Oct 27, 2021 9:25 PM | Report Abuse

I feel my competition are all school boys!!
No competition at all!!
Better go to sleep rather than talk to small little kid~~

Talking about yourself...pitiful, just dun commit suicide, whatever differences in opinion, in all honesty, let this be a lesson to you...

Posted by Honesty > Oct 27, 2021 9:14 PM | Report Abuse

Boring here now !! Most trash talker has no substance ~~

Pity you caught in high price and hallucination on false hope of Chef counter coming back, face reality it is suspended. Price of the share is zero, not marketable.

Posted by Honesty > Oct 27, 2021 9:13 PM | Report Abuse

Better to be in a hallucination than to have a false hope in buying cheap ticket !!
Understand the desperation of wanting something so badly yet cant get it !! No wonder someone is so hardworking in trash talking here !! LOL

More of hallucination than imagination.

Posted by Honesty > Oct 27, 2021 9:06 PM | Report Abuse

Just imagine when the positive SIR is out and Serba is proven innocent!! Dont you think EPf and other IB would increase their stake ??

Are you on Ketum?


Posted by Honesty > Oct 27, 2021 9:06 PM | Report Abuse

Just imagine when the positive SIR is out and Serba is proven innocent!! Dont you think EPf and other IB would increase their stake ??
EPF from 4plus to 8plus %
IB a few more percents!!
The road to 1.60 will be really really fast ~~ Maybe within a couple of weeks!!

In this situation, Chef has to be changed for the better. The classic tragedy of how to run your companies to the ground.

SHQuah According to my auditor friend, Serbadk, Kpower and SCIB can't be delisted or PN17. Some one need to be charge for wrong doing and company continue running.
27/10/2021 8:57 PM

Most probably there are significant related parties transactions among the 3 companies, may or may not be related to issues raised by KPMG in Serbak audit. May just infer that the 3 companies are not independent of each other.

OpporturnityHunter i doubt doubt why other company can issue AR or QR on time as all faces the same covid situation. And SCIB cannot submit on time leh, why why why , can some expert tell me the reasons leh
26/10/2021 8:58 PM

Who would have believed that as Serbak Chairman stated previously as insignificant audit issues have now caused the counter to be suspended? And there are still people believing Chef is still right and had hope that the counter would LU. To these people please examine your brain.


Posted by newtrader1989 > Oct 26, 2021 8:34 PM | Report Abuse

BAU?? Crap nonsense. Who want to business with suspended public listed companies

Go on and dream, only 2% possibility of privatization at 35 sen. Billions to buy over and billions require for working capital unless Chef blew hot air over 18 billion contracts on hand.

Posted by Mabel > Oct 24, 2021 8:06 AM | Report Abuse

Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD

Oct 22, 2021 6:16 PM | Report Abuse

#Pinky privatisation? Hmm...
22/10/2021 6:09 PM

Told you earlier you are a bad fun manager, looks like you are locked in by buying high while Karim getting out with cash in hand.

InterFund® "Update as of 30 September"................ Not the result was out 30 September..........They update the findings every 2 weeks.................. Let see the final factual report this Tuesday.............. Funny thing is the one that made so much noise doesn't even have a single share here..............hahahha............ can't wait to hit a jackpot this Monday..............
23/10/2021 11:20 PM

SIR was released by EY to Serbak on 30.09.2021 and the Chef and board members did nothing to disclose but instead, Chef dabble in his own counter. No transparency and reports can be assumed to be negative.


In a media statement late yesterday, Bursa Malaysia Securities Bhd said findings from the SIR’s Factual Findings Update as of Sept 30 have been communicated to three out of four of the company’s independent non-executive directors (INEDs) on Oct 21.

“In this regard, Bursa Securities notes that to-date, Serba Dinamik has not announced the findings from the Factual Findings Update in accordance to Paragraph 9.03 of the Main Market Listing Requirements (MMLR),” the market regulator pointed out.

This has therefore led to an issuance of a directive under paragraph 2.23 of the MMLR to the global integrated oil & gas service provider to:

Make an announcement on the findings from the Factual Findings Update by Oct 26 (Tuesday);
Announce Bursa Securities’ directive immediately; and
Impose a suspension of trading on Serba Dinamik’s securities on the next market day after the directive deadline in the event of non-compliance to the directive.
“The suspension will remain until an announcement in compliance with this directive and paragraph 9.35A of the MMLR is made by Serba Dinamik on the findings from the Factual Findings Update,” noted the market regulator.

“The directive is issued to ensure material information is disclosed in a timely manner and to provide clarity to the market.”

https://focusmalaysia.my/serbas-indefinite-trading-suspension-to-stay-till-release-of-sir-findings/

Chef Karim netted RM4.3 mill from warrants and collected only 1 mill of mother at RM 350,000. Looks like he is getting out with some cash. All his other mother shares are locked with the banks. Bad behaviour from day 1 of the KPMG episode.

Looks like SIR is negative, and Chef did not release the SIR results, the kitchen is contaminated with bacteria. It looks like KPMG is right after all and corresponds with the much earlier refusal of the old BOD or rather Chef refusing to heed KPMG advice for an independent review of the issues raised by the ex auditors. The end is near.

Still need oil to run the power generators. Renewable energy is still limited. 50 years require to fully replace combustion engine with EV cars.

Posted by serpent100 > Oct 18, 2021 9:29 PM | Report Abuse

History for oil price is 14x usd.... Why now 8x usd... Cannot maintain

Looks more definite. Cause the counter is not bankable at the moment.

Chinjason definitely have. Right issue coming soon
16/10/2021 1:50 PM

Crude oil price is good now, next will be when the owner going to ram up the price, hopefully, the coming quarter will show a good profit figure.