Highlights

Oil and Gas Malaysia News

Author: acinanatucer   |   Latest post: Wed, 28 Jul 2021, 11:24 AM

 

Serba Dinamik boss bought more shares as price tumbled

Author:   |    Publish date:


Serba Dinamik Holdings Bhd group managing director and chief executive officer (CEO) Datuk Dr Mohd Abdul Karim Abdullah has raised his stake in the company.

According to a bourse filing yesterday, the group said its largest shareholder acquired five million shares via the open market on Monday.

This means that he now controls a 27.07% stake, equivalent to one billion shares.

Serba Dinamik’s share price was under pressure over the past two trading days. The company has been in the news since last week after it announced its intention to conduct a special independent review after the board was informed by its external auditor KPMG of some accounting issues pertaining to its statutory audit.

Just two days after that, its second-largest shareholder and non-independent non-executive director Datuk Abdul Kadier Sahib sent a notice to the company, proposing to replace the auditor with BDO PLT.

Serba Dinamik said KPMG raised issues relating to sales, trade payables and material on site balances involving 11 parties which accounted for total sales transactions of RM2.32 billion, a trade receivables balance of RM652 million and material on site balances of RM569 million.

Abdul Karim maintained that the group did nothing wrong, and that KPMG was acting in an unfair and peculiar manner by going straight to the company's independent directors to address the audit issues.

Shares in Serba Dinamik continued to receive greater investor interest today, registering a trading volume of 180.7 million shares, making it the most actively traded counter on the local bourse today.

At 9.47am, it appeared to be mounting a reversal of the sharp decline seen in the past two trading days, rising by 4.79% or four sen higher to 87.5 sen, yielding a market value of RM3.26 billion.

Share this

  LimitUp likes this.
 


APPS
I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
Perform Technical & Fundamental Analysis on Stocks
MQ Affiliate
Earn rewards by referring your friends
 
 

249  572  536  1205 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 PUC 0.19+0.01 
 EURO 0.915+0.20 
 SOLUTN 0.845-0.055 
 TANCO 0.20+0.035 
 KANGER 0.065+0.005 
 DNEX 0.745-0.005 
 ASB 0.165+0.015 
 SERBADK 0.41-0.005 
 HSI-CIK 0.20+0.01 
 HWATAI 1.17+0.10 
PARTNERS & BROKERS