Serba Dinamik to release FY21 report by Jan 6

by ANIS HAZIM / pic by TMR FILE 

SERBA Dinamik Holdings Bhd will issue its annual report for the financial year ended June 30, 2021 (FY21) on Jan 6, 2022.

In a filing to Bursa Malaysia yesterday, Serba Dinamik updated the status for its FY21 report which needed more time to prepare.

“The annual report 2021 and the audited financial statements of the company remain outstanding as the company needs more time to update the statements or reports and make arrangements for printing,” it stated in an exchange filing yesterday.

On Oct 25, 2021, Bursa Securities Malaysia Bhd had granted an extension of up to Nov 30 for the oil and gas services provider to release its outstanding annual report.

However, Serba Dinamik has made a second appeal to postpone the initial deadline but it was rejected.

Since Oct 22, Bursa has suspended the trading of Serba Dinamik’s securities for failing to furnish details of the updates on the special independent review.

The group is embroiled in legal actions against Bursa, its former external auditor KPMG, as well as EY Consulting Sdn Bhd.

THE Securities Commission Malaysia (SC) last week charged Serba Dinamik and executives, including CEO/MD Datuk Mohd Abdul Karim Abdullah, for submitting a false statement to Bursa Malaysia Securities, an offence under section 369(a) (B) of the Capital Markets and Services Act 2007 (CMSA).

According to the SC’s charge filed at the Kuala Lumpur Sessions Court, the false statement is in relation to the revenue figure of RM6.01 billion contained in Serba Dinamik’s consolidated results for the quarter and year ended Dec 31, 2020, the capital market regulator said in a statement yesterday.

A director and two senior officers were charged on Dec 28 for the same offence which, if convicted, carries a punishment of an imprisonment term not exceeding 10 years and a fine of not less than RM3 million.

All the accused claimed trial to the charges filed. Sessions Court Judge Sabariah Othman fixed bail at RM500,000 with two sureties with Abdul Karim required to report to the SC on terms to be decided by the SC, the press statement noted.

The SC also charged Muhammad Hafiz Othman, VP of Accounts and Finance of Serba Dinamik at the Shah Alam Sessions Court, for falsifying the accounting records of its subsidiary Serba Dinamik Sdn Bhd, the SC added.

Muhammad Hafiz was directly involved in instructing the preparation of false documentations relating to the sales of Serba Dinamik Sdn Bhd, an offence under section 368(1)(b)(i) of the CMSA.

Muhammad Hafiz claimed trial to the charge filed against him. Shah Alam Sessions Court Judge Rozilah Salleh granted bail of RM200,000 with two sureties.

Serba Dinamik shares were last traded at 35 sen, giving the group a market capitalisation of RM1.3 billion.