shooting star formation?

this shoplot company hasn't closed shop? where are the chest thumping directors? all gone into hiding like pussies?

lol most incompetent REIT manager ever. They could've returned some capital to shareholders after the previous divestment but NOOooo... they took on more loan to buy a crap property XD

Ringgit is going down, export counters would be a good hedge.

Can they please develop AI to detect accounting fraud as well?
or create AI to target who to sue next.

XD XD XD

come on guys! have some sympathy, it's very unfortunate for SD to get sabotaged by 2 shoplot auditors lol!

lol this is so dumb it's funny.

NEVER TRUST ANYONE WITH PhD FROM DEGREE MILL LOL!!!

dumb fk supporters doing a vote as if it's going to change anything lol....

wow a new low for Utusan, giving investing advice based on race and religion.... speechless

Together with the group’s high net gearing of 77% currently, the likelihood of securing full financial support for the huge US$1.7bil (RM7.4bil) contract awarded in April 2020 to engineer, procure and construct an IT-focused innovation hub in Abu Dhabi, United Arab Emirates (UAE) now appears uncertain after recent revelations that Serba has an effective 49% stake in the project owner, Block 7 Investments.
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Left hand to right hand... not the most transparent

Hardcore supporters please buy heavily on Monday. Don't just talk, make sure you actually buy. No one is stopping you. I'd love to watch the outcome.

where's the update regarding new auditor? or has Karim gone into hiding?

Posted by SincereStock > Jun 25, 2021 6:32 PM | Report Abuse

how can bursa release QR if audit issue not settled?
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sigh..... so many noob Malaysian "investors"...
QR is released by the company, and it is unaudited. Means they can report whatever shit they want.

maybe no chance to sell on Monday, it could be suspended pre-market open.

fanboys: KPMG must have paid the directors to resign.

ikan bilis are screwed.... directors resigning

Posted by bilisutara > Jun 25, 2021 5:10 PM | Report Abuse

Maybe we can buy back at below 20sen and keep for long term i.e. 6-7months. I am confident SD will rebound back to >RM1.50 but not now. I estimate will get back to RM1.50-1.70 in Nov-Dec 2021. But we no lose if we can keep 100,000-200,000 at 15-20cents per shares. Profit 10X after 5-6months.

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not if they fail to refinance debt and go into default, that would mean the company is more or less finished for good.

suspension soon.... good luck y'all

lol it's funny Karim is talking to everyone for PR, except large shareholders whom he has absolutely no guts to face....

PhDs from degree mills lah.... zero credibility

MICG: Regrettable for listed company to file suit against external auditor

https://www.thestar.com.my/business/business-news/2021/06/25/micg-regrettable-for-listed-company-to-file-suit-against-external-auditor

SD's board of directors is full of rubbish, just like our politicians.

looks like either SD is getting suspended, or they have simply failed to appoint a reputable auditor. Either way it won't end well.

shoplot gangsters are selling!

why are you guys selling? later Ilyas would call you shoplot investors behaving like gangsters XD

I believe they gonna come out with some excuses tomorrow with regards to the next auditor. Typical Serba Menipu....

lol supporters please buy more.... i want my EPF money to exit

lol all they are doing is cry "KPMG!!!" but they dare not to even meet up with institutional investors to explain. Read today's The Edge Morning Brief if you have a subscription. SD is pathetic.

next thing dumb Ilyas would say:
1. Bursa is a shoplot exchange
2. SC is a shoplot regulator
3. We're a successful company
4. I've spoken to the government

Shoplot Chairman hahahahha

master of misleading - Chairman of SD

SC, Bursa deny having spoken to Serba Dinamik chairman Mohamed Ilyas

https://www.theedgemarkets.com/article/sc-bursa-deny-having-spoken-serba-dinamik-chairman-mohamed-ilyas

lol Ilyas caught lying, a slap in the face. what do you supporters/trapped ikan bilis have to say about this?

Status of the appointment of the independent reviewer
The Board had on 14 June 2021, agreed to appoint an independent reviewer to assess
veracity and accuracy of the matters highlighted by the external auditors, KPMG PLT.
However, as of 22 June 2021 the Company has filed a writ and statement of claim against
KPMG PLT on the grounds of professional negligence, breach of contract and breach of
statutory duty.
Accordingly, the Board shall be deliberating this Friday 25 June 2021 whether the scope of
the independent reviewer has to be expanded or otherwise. Based on legal advice, the
Company is of the view KPMG PLT can no longer act independently as external auditors.
The Company will make an immediate announcement to this effect immediately upon the
finalisation of the aforesaid scope of work.
This announcement is dated 23 June 2021.


They sued to buy time lol. Such an urgent matter and they have to wait until Friday?

they better get EY hired soon to gain some credibility, If even EY refuses the appointment, you ikan bilis confirm get fried alive.

Karim & Co. must have been getting whatever they want too easily, until they thought issues like these can kaodim easily.

well, KPMG basically said "Bring it on!".... now let's see if SD has the balls to play on.

Under Section 320 of the Act, auditors are required to report to the Securities Commission Malaysia (SC) and the exchange any cases that adversely affect to a material extent the financial position of the public listed company (PLC), or any breach of securities laws and rules of the exchange.

KPMG says audit was proper and will contest Serba Dinamik’s suit — but can a company sue its auditor?

https://www.theedgemarkets.com/article/kpmg-says-audit-was-proper-and-will-contest-serba-dinamiks-suit-%E2%80%94-can-company-sue-its

@pearlwhite
SO, RELOOKING AT KARIM'S PRESS CONFERENCE YESTERDAY, DO YOU THINK HE WAS TELLING THE TRUTH OR TELLING LIES?
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My opinion is that they have been extremely evasive. What they have said is basically "KPMG is shit. We're innocent." when they should have addressed the transactions worth RM 3bil one-by-one. OR, simply hire EY asap to investigate, rather than throwing a tantrum at the press conference.

Press conference was a joke. It was like a bunch of kids throwing a tantrum bashing KPMG but did not even put out anything substantial like what exactly they disagree with, what shocked him so much by the "shoplot auditor" etc.

This BOD is a bunch of jokers.

Amid suit against KPMG, Serba Dinamik yet to appoint EY for independent review

https://www.theedgemarkets.com/article/amid-suit-against-kpmg-serba-dinamik-yet-appoint-ey-independent-review


lol you ikan bilis talking as if EY has already started work. you're being played by Karim & co.

lol so obvious SD is trying everything to buy more time. I hope this suit gets international attention, SD has no where to run then

Changes in Director's Interest (Section 219 of CA 2016)
SERBA DINAMIK HOLDINGS BERHAD
Particulars of Director
Name DATO' AWANG DAUD BIN AWANG PUTERA
8,500,000
Disposed

GOOD LUCK HOLDERS..... director disposing...
If this isn't a red flag, i don't know what is...

Serba is likely to default soon. There's no way they can issue bonds in situation like this and redeem maturing ones. BE WARNED!

If you think Karim is trustworthy, please check where he got his PhD.

high chance of seeing EPF's share disposal announcement today.

this is pathetic... even their presentation slides look as if a secondary school kid did them.

lol waiting for delusional ikan bilis to come and blame KPMG again and again.... grabbing myself a cup of coffee

Lol there are still people supporting and living in denial here? And simply assumed inexperience auditors worked on this?? Lol you guys are funny, thing is delusion will only cause you more losses

https://www.theedgemarkets.com/article/serba-dinamik-shareholder-pnb-has-deep-concern-after-audit-issues-raised

KUALA LUMPUR (June 2): Malaysia's largest fund manager Permodalan Nasional Bhd (PNB) said on Wednesday it was deeply concerned by developments at Serba Dinamik Holdings Bhd, which is under investigation by the country's securities regulator.

The comments from PNB, Serba Dinamik's fifth-biggest shareholder, follow the revelation last week that Serba Dinamik's auditor KPMG had not been able to verify contracts and transactions totalling RM3.5 billion with 11 customers, prompting an investigation by Malaysia's Securities Commission.

Serba, an oil and gas services firm, rejected those concerns and said there are no issues with the contracts. It plans to appoint an independent firm to review the issues.

"PNB has informed the Serba Dinamik board of directors of the firm's deep concern about recent developments," the fund manager told Reuters in an emailed statement.

It also said there is no merit in removing the appointed auditor before they finish the annual audit, adding it reserves its right to vote against any resolution to replace the current auditor.

Serba Dinamik's second-largest shareholder last week proposed removing KPMG as auditor after the audit issues first came to light.

KPMG, in its first public comments on the matter, told Reuters it remained in communication with Serba Dinamik but declined to comment further, citing ongoing investigations and client confidentiality.

Shares of Serba Dinamik have lost about 46% of their value so far this week. They were trading up 3.6% on Wednesday, after heavy losses in the last two sessions.

price movement will be just like SAPNRG.... how the mighty have fallen