Bursa suspends trading of Serba Dinamik shares

By TMR / Pic by TMR FILE PIX

Bursa Malaysia suspended the securities tradings of Serba Dinamik Holdings Bhd from 2.30pm today until further notice to maintain an orderly and fair market in the trading of the engineering services provider’s securities.

Bursa in a statement today said that the suspension is effected pursuant to paragraph 16.02(1)(c) of the Main Market Listing Requirements in the interest of maintaining an orderly and fair market in the trading of Serba Dinamik’s securities.

“Bursa Malaysia Berhad has resolved to suspend the trading of securities of Serba Dinamik Holdings Berhad, including all structured warrants relating to SERBADK.

“The suspension in the trading of SERBADK and all structured warrants relating to SERBADK takes effect from 2.30 p.m., 22 October 2021 until further notice,” the regulator said.

The halt on the suspension comes a day after Serba Dinamik’s group MD and CEO Datuk Mohd Abdul Karim Abdullah disposed of his entire holding of 55.9 million of the group’s warrants this week, as the price of the warrants hover near record low levels.

According to Bursa filings, he disposed of 21.58 mil warrants on Oct 18, 34.2 million warrants on Oct 20, and a further 123,600 warrants yesterday.

According to Bloomberg data, he holds a 21.2% stake in the oil and gas services firm.