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KUALA LUMPUR (July 5): Serba Dinamik Holdings Bhd group managing director (MD) Datuk Dr Mohd Abdul Karim Abdullah's stake in the engineering solutions group has dropped to 20.727% after the latest forced selling of a total of 32.18 million shares. For comparison, his equity stake in the company stood at 27.066% at the start of June, marking a 6.34 percentage point decline over the past month. According to a bourse filing today, Mohd Abdul Karim was forced to sell two blocks of shares, comprising a block of 10.18 million shares on June 30 and another 22 million shares on July 1. Last week he sold a total of 203 million shares, bringing the total number of shares he has been forced to sell to 235.18 million.
The drama at Serba Dinamik continues theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR (June 29): Serba Dinamik Holdings Bhd was trading higher and the top most active counter this morning following news that Ernst & Young Consulting Sdn Bhd (EY) had accepted the company’s offer to be its independent reviewer with additional conditions attached. Shares in Serba Dinamik opened higher at 37 sen apiece, compared with the previous day’s close at 32.5 sen. The stock then fell to a low of 34 sen and recovered to trade at 38 sen at the time of writing today. At 38 sen, the stock was trading 5.5 sen or 16.92% higher, with a market capitalisation of RM1.2 billion. From a volume perspective, Serba Dinamik shares were the most actively traded on the local bourse at the time of writing, with 375 million units done.
Serba Dinamik posts RM112 mil net profit for 5QFY21, supported by O&M ops theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
Serba Dinamik continues share price fall, with KPower and SCIB also in the red theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
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.
Independent directors of Serba Dinamik Holdings Bhd may hold the clue on the audit issues raised in the company recently, which could help minority shareholders make an informed decision amid a heavy sell-off in the counter this week.
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.
Serba Dinamik Holdings Bhd has shortlisted a few international independent firms to assess the veracity and accuracy of matters highlighted by its external auditor, KPMG PLC.
KPower Bhd fell as much as 27 sen or 15.98% to RM1.42 this morning, after Serba Dinamik Holdings Bhd said on Tuesday it was commencing a special independent review after the board of directors was informed by its external auditor on some matters pertaining to statutory audit.