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Page 3 - சரவாக் தொகுக்கப்பட்டு தொழில்கள் ப்ட் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Serba Dinamik audit issue may hit KPower, SCIB more than their share prices

Counters linked to Serba Dinamik Bhd’s group managing director and chief executive officer Datuk Dr Mohd Abdul Karim Abdullah are feeling the heat of the accounting issues at the oil and gas services and engineering group. It is not just about the drop on their share prices, but their fundraising exercises will be hit.

Quick take: Serba Dinamik hits limit-down again

Serba Dinamik hits limit down

hit limit down upon being requoted after two days of suspension as investors sold the stock on issues surrounding its past sales deals. At the opening bell, the stock dived to RM1.13, down 30% or 48 sen. Stocks linked to the engineering solutions provider for the oil and gas industry, namely, KPower Bhd and Sarawak Consolidated Industries Bhd , were also lower by 13% and 19% to RM1.14 and 93.5 sen at the mid-day break. Meanwhile, Reuters reported that the Securities Commission (SC) has commenced an investigation into Serba Dinamik after the company’s auditor flagged issues last week. The newswire said yesterday the regulator had secured documents and records from the company to assist its investigation.

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