Page 25 - Practice Note News Today

KUALA LUMPUR (May 30): Troubled oil and gas services provider Serba Dinamik Holdings Bhd posted its third consecutive net loss for the third quarter ended March 31, 2022 (3QFY22), with a net loss of RM434.19 million — its largest to date.

On 29 October 2021, Zambia's Honourable Minister of Finance and National Planning, Dr Situmbeko Musokotwane, MP presented Zambia's national budget for the 2022 fiscal year...

AFTER much deliberation by KNM Group Bhd about how it would seek to get back on track, especially in fixing its mounting debt, a decision has been made to flog off its prized asset.

Serba Dinamik Holdings Bhd has been slapped with yet another suit, this time from Malaysian Trustees Bhd, which is the trustee of Serba Dinamik’s RM100 million Islamic Commercial Papers (ICP) that the company has defaulted on.

The High Court on Wednesday fixed June 8 to hear the application by creditors and financial institutions to appoint an interim liquidator for beleaguered Serba Dinamik Holdings Bhd and its subsidiaries and also for the company's application to cross-examine the winding-up petitions filed late last month.

The Malaysian United Democratic Alliance (MUDA) says the reasons offered by Attorney General Tan Sri Idrus Harun to compound Serba Dinamik Holdings Bhd and its executives instead of pursuing criminal proceedings against them have triggered more questions than answers.

Serba Dinamik Holdings Bhd rose as much as one sen or 11.76% to 9.5 sen on Friday (May 13) after the company and its four top executives, who were involved in a quagmire in the submission of false information, paid a total of RM16 million in compounds issued by the Securities Commission Malaysia (SC).

Amendments to the JSE Listings Requirements to cut red tape and achieve effective, fit-for-purpose regulations for financial markets have been approved. On 4 May 2022, the JSE Limited (JSE) announced that the Financial Sector Conduct Authority (FSCA) published its approval of amendments to the JSE Listings Requirements, which will be effective from 1 June 2022. 

Serba Dinamik Holdings Bhd and its four top executives involved in the submission of false information have paid a total of RM16 million compound issued by the Securities Commission Malaysia.

Baker McKenzie's latest Africa Competition Report 2022 provides a detailed analysis and overview of recent developments in competition law enforcement and competition policy in 32 African jurisdictions and regional bodies. The Report outlines how, over the past two years, African competition regulators have actively engaged in efforts to address pandemic-related challenges, but there has also been a general upward trend in competition policy enforcement across the continent. This ...