top of page
  • Writer's pictureFaron

'We have done nothing wrong,' says Serba Dinamik MD Abdul Karim

KUALA LUMPUR (May 29): Serba Dinamik Holdings Bhd “has done nothing wrong”, said its group managing director and chief executive officer (CEO) Datuk Dr Mohd Abdul Karim Abdullah today in clarifying the company's audit issues recently raised by its external auditor KPMG.

The company has described KPMG as acting in an “unfair” and “peculiar” manner for going straight to the company’s independent directors to address the audit issues — instead of briefing the management first.

Furthemore, the management blamed KPMG for delaying the completion of the statutory audit, which resulted in Serba Dinamik missing the audit deadline.

“The Securities Commission [Malaysia] has their rights; Bursa Malaysia has their rights [to investigate]. Based on what we believe, we have done nothing wrong,” said Abdul Karim, who is also the single largest shareholder holding a 26.93% stake in the company, at a virtual press conference today.

He stressed that the audit issues raised by KPMG are not about genuity and it isn’t about legitimacy of contract value.

“We are firm in the facts that we have put forward, and we strongly believe the independent firm will come out with the findings to see the differences between what we have said and what KPMG has [pointed] out,” he added.

“Based on the sequence of events, it is something that is very peculiar and abnormal.

“When these issues were found, the management by right should be the party that was addressed first. But it did not happen that way. The external auditor went to the independent directors and briefed the independent directors on the matter.

“Independent directors are not involved in day-to-day operations. They will not be able to explain those findings raised … it came to us only on May 3 towards the tail end of the year-end audit closing period,” Abdul Karim said.

KPMG first raised the issues to Serba Dinamik’s independent directors in mid-April, before the board was alerted on May 3, after which the company responded to the queries on May 6.

The virtual press conference today was conducted a day after Serba Dinamik’s second largest shareholder, Datuk Abdul Kadier Sahib, issued a notice to propose the removal of KPMG as its external auditor. Kadier, holding a 15.96% stake, is also the company’s non-independent non-executive director.

When asked whether he supports the proposal, Abdul Karim said: “It is still a decision that I will put in a vote on the day it comes.”

During the one-hour session, reporters were not allowed to raise questions directly to Abdul Karim. The media were requested to type in their questions into a chat box. Only selected questions were picked up during the press conference.

The press conference was for the host to explain further its decision to conduct a special independent review of its financial accounts after its board of directors was informed by KPMG on some matters pertaining to the statutory audit.

The company expects the voluntary suspension on its shares to be lifted on Monday. The counter last closed at RM1.61, valuing the group at RM6 billion.

Original Article

3 views0 comments

Recent Posts

See All

国内政治风云再起,《巴拿马泄密事件》再次成为焦点。全球不少政商名流的名字都出现在巴拿马—间著名的信托秘书服务公司的客户名单中,震撼全球。之前,此泄密事件甚至导致某国的总理下台。某些富豪在“税务天堂”成立岸外信托(Trust)或基金会(Foundation)来规划其遗产与企业传承,以加强其保密度。但也有些纳税人,为了避税(Tax Avoidance)或是逃税(Tax Evasion),将钱藏在“税务

10月26日是安康(ANCOM)的股东大会。安康的两家子公司耐力士(NYLEX)和安康物流(ANCOMLB),也将于同一日召开股东大会。 和往年不同的是,今年安康和耐力士将另外举行股东特大,讨论收购事宜。 在今年4月28日,总共控制了耐力士50.27%的大股东安康和相关方,建议通过现金和发行新股,以1.8亿令吉收购耐力士的业务。 收购完成之后,耐力士将保留现金1500万令吉作为寻找未来业务用途,并

bottom of page