SC charges Serba Dinamik, offices

by TMR / pic by TMR FILE

THE Securities Commission Malaysia (SC) is charging Serba Dinamik Holdings Bhd and its officers in the Sessions Court for submitting a false statement to Bursa Malaysia Securities Bhd.

The company will be charged under Section 369(a)(B) of the Capital Markets and Services Act 2007 involving a false statement relating to the revenue recorded by the group in its financial report for the fourth quarter ended Dec 31, 2020 (4QFY20), according to a report in a business portal today.

SC officials were yet to respond to queries from The Malaysian Reserve but are expected to issue a press release later in the day.

The embattled oil and gas company, whose shares have been suspended since Oct 22, is embroiled in legal tussles with Bursa Malaysia and former external auditors KPMG Ltd after it flagged discrepancies involving transactions worth some RM4.54 billion in a review of accounts for the financial year ended Dec 31, 2020, which are yet to be filed.