Detail of lawsuit

1. issued raised by KPMG not huge. Ordinarily could be resolved if KPMG do it the usual way. To see whether client can answer the issue raised.

2. Failure to adopt the correct process of audit.

3. No substantive ground to red flag those issues raised by KPMG.

4. KPMG being sued a huge money (minimum 3 billion) - die la KPMG.

Live update:

KPMG will be hammered on:

Negligent
breach of contract
Breach of statutory duty

New chairman also saying everything not true. KPMG still no statement

Now price goes up everyone quiet.

price already go up. time to buy

This stock is only for long term investor. Simpan, pick up dividend and go. Stock will go back up one

Oh ya. Serba today got PC at 5 pm

Price stable kot

This is outrageous la. For years, their accounting is ok. Only for a year because of MCO got small hiccup suddenly laundering. They been giving proper dividends for years unlike some company

Posted by poseidon80 > Jun 22, 2021 8:57 AM | Report Abuse

Just be careful la when trading this kind of stocks.. did u guys see ? The first auditor report? Haishhh.. this company might be money laundering company.. cuci duit..
Might go down to 0.500 cents.. and worst delisted

Just be careful…

EPF still got huge holdings la.

Anyone know what is today's PC about???

KPMG is doing so much damage on Serba Dinamik. They should take action against KPMG. this is ridiculous la

The volume traded is not only people selling but also buying

Posted by Steady Punpipi > Jun 22, 2021 6:23 AM | Report Abuse

EPF disposed is quite normal . Wonder who has been scooping SD at 0.625 and 0.60 both has very high traded vol last week and yesterday. My guessing this could be another Big Fund Manager with lots purchasing power.

My sources say he resigned because he needs to care for his sick wife.

Posted by Huangbk72 > Jun 22, 2021 6:29 AM | Report Abuse

Wah.. steadypunpipi

U know the new and old chairman personally? How u know and judge who is better ?

Dulu Sime Darby beli 520 million this yard before selling it to Petronas. Petronas later realised that they are not in the industry of supporting their platform so Serba comes in since they are in the maintenance game for O&G players

Posted by harisdragon > Jun 21, 2021 3:14 PM | Report Abuse

The purchase of Ramunia Fabricators yard for RN320 million is still unutilized until now.

Bursa reacting to UMNO's meeting last night about government collapse I think

Another morning with MikeCYC spouting nonsense without fact like he knows it all. hahahahaha. Jangan layan dia. He gets kicks trolling people. He doesn't understand anything he is saying...

google la meh. Or you know the actually owner? MikeCYC ni suka gebang je

Posted by Mikecyc > Jun 21, 2021 8:34 AM | Report Abuse

Haha anyone know the huge project in Block7 in Dubai , who is the owner of the land ??

Pak Tua as usual with his random song suggestions in the morning. LOLOLOL

Then why go through all the trouble to solve accounting issues.

https://focusmalaysia.my/serba-appoints-new-chairman-to-expedite-accounting-issue-resolution/

1MDB never did that. News of audit report changing and not coming out all we only learn after GE14. this one everything out in the open. Serba issued their side of the story. Taking steps.

KPMG meanwhile quiet. Losing client somemore.

Dante... unfortunately KPMG is too big. Do problem, pay fine, move on.

Just like any MNC companies la. But see la. in the span of a week they lost Serba and Petron as clients. Both in the oil industry and as Retailbroker99 pointed out, last year they lost GE as well.

Those are significant clientele. Now pending 1MDB fine (hint!hint!!- Goldman Sach, conman also still survive because they can pay and blame individuals)

Tough world bro. I'll be fair I lost some money. Of course I am angry because I see all the accusations as BS. KPMG is now hiding and counting how cheap the fine will be while I suffer, EPF suffer and Malaysia suffer

But reporter not defending themselves. Kinda like the boy who cried wolf. So much noise but after that nothing.

Posted by Dante5566 > Jun 18, 2021 8:33 AM | Report Abuse

When you are getting scammed, you should blame the culprit instead of someone who reported it.

Ya la. No statement also from them. Why scared ke?

Posted by Steady Punpipi > Jun 18, 2021 8:31 AM | Report Abuse

KPMG has to prove themselves trustworthy minus the BS

New direction for the company. Looks promising. The new Independent Directors are not simply brought in for magic. But to actually clean this whole KPMG mess

Posted by ATARAH > Jun 18, 2021 8:14 AM | Report Abuse

Good morning new Chairman of Serbadk.

Keep calm and Hold

Posted by BearishTrend > Jun 17, 2021 12:24 PM | Report Abuse

Petang nnti naiklah tu.. Epf dan Karim x jual dah pegangan diorg..

Good sign for all companies in Bursa la. Got time to get their books in check. Now tough times. US market more volatile. Malaysia is the long game.


Posted by bobvic96 > Jun 17, 2021 12:45 PM | Report Abuse

Am I becoming a conspiracy theorist or is this purely coincidental?:

"Bursa Malaysia said a company that had triggered the suspended Practice Note 17 (PN17) or Guidance Note 3 (GN3) criteria between July 1 and Dec 31 this year will be given an 18-month relief period"

https://www.thestar.com.my/business/business-news/2021/06/17/two-addit...

So much for chatbot. Called to appear in popular media alongside Piers Morgan and also asked to debate with people. Even normal human being sometimes cannot debate


Posted by Huangbk72 > Jun 17, 2021 12:44 PM | Report Abuse

Hahaa.... Sophia the robot is just a chatbot with a face.. This also promoted as a milestone of the company??

Makers of Sophia the robot tasked with more AI based robot. Come on la. Stop copy pasting one line from Wikipedia and call it research.


https://www.reuters.com/article/us-hongkong-robot-idUSKBN29U03X


Posted by i3lurker > Jun 17, 2021 12:42 PM | Report Abuse

In January 2018, Facebook's director of artificial intelligence, Yann LeCun, tweeted that Sophia was "complete bullshit" and slammed the media for giving coverage to "Potemkin AI". In response, Goertzel stated that he had never pretended Sophia was close to human-level intelligence.

Read their financial report la. They own the right to Sophia the robot (AI based robot) and have a few shares in VR tech. Even building one in Indonesia



Posted by DannyArcher > Jun 17, 2021 12:12 PM | Report Abuse

Never ever say Serba is an IT company.... never. It is a EPCC and O&M, but never an IT. Look at their IT website and you'll know.

No software to download
No software screen shot
No demo
No detailed description of their software and capabilities
No data sheet or usage
No 'Contact us for pricing / demo'

Nothing...

Just fancy animation of VR and lots of meaningless bullet points. Go google Serba IT and you'll know. It is like created by some high school student.

You can compare this with Huawei's O&G website and Hugh Baker's O&G website, see their IT solutions and then you see Serba... Serba... even a fake software company creates better website.

Serba is not an IT company, but wants people to think it is IT and wants investor to evaluate it as an IT company.

I think this is where KMPG disagree and see how Serba is putting many profit under the IT department.

In it for long term

Posted by Steady Punpipi > Jun 17, 2021 10:04 AM | Report Abuse

BUY and HOLD ....SHARKS WILL HAVE LESS SHARES TO SELL

This one have to play the hold game la. This stock is for long term. Price drop a lot already. Margin call done. Now only to clear out the mess and recover

Posted by FaridIsland > Jun 17, 2021 9:35 AM | Report Abuse

Bot 65 ystdy...adoiii..xtau apa naseb!

Adding more volume

Already up. Just need more asking volume to pump up power

Calvin Tan Research

Now that is a joker's forum. His analysis was so bad it cost a lot of people money yet he is claiming to be a layman.

Then don't call it research la. say itu Calvin Tan goreng

Agree with alphashort and Sincerestock la.

All these gossips not doing good for retail investors...

Serba Dinamik if dodgy for all these years won't be able to pass all these due diligence by banks, foreign partners in Middle East and also Europe (shows they can pass multiple standards of different countries)

Their agreement with Swiss Space tech company is breathtaking. Why would a Swiss company believed in a dodgy Malaysian company, it's because they are good and have the correct people to run things.

KPMG happened... Unfortunate...

But since then Serba hired EY and appointed credible new independent directors to steer them to the next level.

Their fundamental is strong and has a long way to go. Not just some O&G company but as a tech stock

No point of paying big bucks to another auditor right if you cannot back it up with facts and documents

Posted by joyvest > Jun 16, 2021 3:02 PM | Report Abuse

take a gamble .

gamble that EY has cleared the doubts cast by KPMG and conclude in good tune.....

Serba Dinamik partnered up with SWISSto12, a Switzerland-based company with a focus on delivering cutting edge products for telecommunication satellite payloads.

You go to their website and check it up. Some awesome stuff going. Hopefully this will still continue. Will be sad for it to be down just because of some audit report not done properly.

Give them time to respond. Everyone knows auditors today do not simply sign off yet they took the liberty to pick up EY. COnfirm got balls one

Posted by alphashort > Jun 16, 2021 2:22 PM | Report Abuse

Most people in this thread still think Serba Dinamik is only O&G company. Wait for their space division to take off. After that everyone rush to buy in.

LMAO

Posted by Sathya9121 > Jun 16, 2021 8:55 AM | Report Abuse

who the hell is doing auditing in KPMG? interns?

Serba Dinamik did the right thing to win confidence of investors

Author: savemalaysia | Publish date: Tue, 15 Jun 2021, 12:58 PM

ANALYSTS in general have hailed the move by Serba Dinamik Holdings Bhd to hire Ernst & Young Advisory Services Sdn Bhd (EY) as an independent reviewer to assess the veracity and accuracy of the matters highlighted by the former’s external auditors KPMG for its provides some assurances to the market.

“We believe this is a positive step forward for Serba Dinamik as it displays confidence to shareholders,” opined Hong Leong Investment Bank (HLIB) Research analyst Low Jin Wu.

“We believe that the appointment of EY as an independent reviewer is a positive step for Serba Dinamik due to its credibility as one of the Big-Four accounting firms.”

Apart from agreeing to hire EY, Serba Dinamik has also announced the appointment of Datuk Mohamed Ilyas Pakeer Mohamed, Masleena Zaid and Johan Mohamed Ishak to its board as independent and non-executive directors (INEDs).

With share price of the global integrated oil & gas (O&G) service provider having fallen and slightly breaking below its target price, HLIB Research has upgraded its rating on Serba Dinamik to “hold” (from “sell” previously) with an unchanged target price of 78 sen based on 0.7 times FY2022 book value per share (BVPS).

In particular, the research house also made special mention on the appointment of Masleena Zaid who is the managing partner of Messrs Masleena, Yee & Partners as a positive step given she was previously a prosecuting officer at the Securities Commission (February 2001 to June 2008) and the head of section at the Companies Commission of Malaysia (July 2008 to December 2009).

“We read this move as a signal that Serba Dinamik is committed to prove that the company is free from any wrongdoing,” justified HLIB Research.

While Serba has shown some positive moves to clear its name, the research house reckoned that the independent audit will take at least three months to complete, hence investors might not be ready to jump the gun completely just yet.

“However, the recent step taken by Serba Dinamik shows a display of confidence to shareholders,” HLIB Research pointed out.

“Until the accuracy and veracity of the accounting matters are resolved, we believe that volatility will ensue.”

At 10am, Serba was down 5.5 sen or 7.38% to 69 sen with 238.26 million shares traded, thus valuing the company at RM2.57 bil. – June 15, 2021

Ramai talk against KPMG already. Something fishy la


Posted by Jonathan Keung > Jun 15, 2021 11:09 AM | Report Abuse

MSWG { CEO } mentioned Serba is entitled to have an third party independent review on KMPG { rarely MSWG voiced out to support a company } something is not right with KMPG

Pak Karim tengah goreng. Big buyers coming in

Investigate all audit firms after 1MDB. Best way to go

Ni kuat goreng la. 1MDB problem since the start. Every transaction doesn't make sense.

Here Serba clean every year. Suddenly got problem mesti some hidden hands working. They got EY to investigate. buy low and hold. ni confirm over the sun punya harga



Posted by i3lurker > Jun 15, 2021 9:52 AM | Report Abuse

after srutinising Serba Announcement I am also satisfied that Serba DO NO WRONG

Gtrade serbad situation remind me of Najib sack the old AG after $2600m were discovered in Najib AMMB BANK account. A new AG Appendi was appointed. Appendi than screwtinised the "facts" and declared that he was satisfied there is hanky panky involving 1MDB FUND.

Of course ,we now that the the real truth is billions of stolen 1MDB FUND is still being returned to Bank Negara. BN announce in May 2021 about $2b of money were seized fromNajib son and repartriated back to Malaysia.
15/06/2021 9:49 AM

When drop you buy, and then you sell big bila go up.

Got chance

I think all of these people nak quick profit. Awal sangat keluar

hmmmm... I think Serba got more power to cross first. Hopefully they recover to original price. Win big one

Oil counter go all out on Dayang and Serba today. Time to go big

Time to buy