Serba Dinamik and its top executives complete RM16m compound payment

·1-min read
On May 10, it was reported that Serba Dinamik’s share price plunged by close to 70 per cent when trade resumed after a prolonged suspension as investors rushed to dump stocks of the troubled oil and gas firm accused of forging its revenue report. — Bernama pic
On May 10, it was reported that Serba Dinamik’s share price plunged by close to 70 per cent when trade resumed after a prolonged suspension as investors rushed to dump stocks of the troubled oil and gas firm accused of forging its revenue report. — Bernama pic

KUALA LUMPUR, May 12 — Serba Dinamik Holdings Bhd has announced that the company and its top executives have completed the full settlement of their compounds imposed by the Securities Commission Malaysia.

In a statement today, the company said it made the full settlement on May 9, for the total amount of RM16 million.

“Payment was made prior to the extended deadline of May 11.

“The company would also like to emphasise that operations are continuing as usual, with a focus on managing its creditors and the PN17 restructuring process,” it said.

As reported by The Star, at 12.30pm earlier, shares in Serba Dinamik were up three sen higher to nine sen on 291 million shares traded.

On May 10, it was reported that Serba Dinamik’s share price plunged by close to 70 per cent when trade resumed after a prolonged suspension as investors rushed to dump stocks of the troubled oil and gas firm accused of forging its revenue report.

The firm’s share price lost 68.6 per cent in value to close at just 11 sen after briefly hitting a record low of 10 sen, prompting pundits to caution investors and regulator Bursa Malaysia against buying the Bumiputera company’s stock.

Investors were advised against buying the share at least until the firm issues a “regularisation” plan, several market observers were quoted as saying.

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