• Tue. Sep 20th, 2022

Securities Commission files police report against Serba Dinamik

ByChad J. Johnson

Apr 23, 2022

It is understood that the complaint was filed by the CS for defamation under Article 499 of the Penal Code in relation to a 26-page letter that Serba Dinamik published on Thursday. – Stock photo

KUALA LUMPUR (April 23): The Securities Commission Malaysia (SC) today filed a police report against Serba Dinamik Holdings Berhad, a source said.

It is understood that the complaint was filed by the CS for defamation under Article 499 of the Penal Code in relation to a 26-page letter that Serba Dinamik published on Thursday.

It was drafted in response to a February 7 High Court order requiring Serba Dinamik to disclose the Updated Factual Findings (FFU) prepared by Ernst & Young Consulting (EYC), following a special independent review on the company regarding audit issues raised by its external auditor. , KPMG.

In the letter, Serba Dinamik questioned SC’s motive for filing suit against the company for alleged false turnover of RM6.01 billion.

The oil and gas team alleged, among other things, that SC threatened its staff by asking them to testify against the company and management in exchange for not being charged.

A SC source said the regulator viewed the letter as “an attempt to intimidate us in the performance of our duties”.

“We will not be intimidated or deterred from fulfilling our investor protection responsibilities,” the source said.

The source added that the SC hopes the police can investigate the matter urgently, as it involved “billions of ringgits” from financial institutions and investors.

Serba Dinamik was aggravated by the SC on April 13 for submitting a false statement regarding its RM6.01 billion in revenue for its financial year ended December 31, 2020 (FY20), previously reported by KPMG. – Malaysian Mail