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BUSINESS

Serba Dinamik, top execs fully settle compounds totalling RM16 mln

12/05/2022 09:38 PM

KUALA LUMPUR, May 12 (Bernama) -- Serba Dinamik Holdings Bhd and its top executives have completed the full settlement of their compounds amounting to RM16 million which were imposed by the Securities Commission.

In a statement today, Serba Dinamik said the payment was made on May 9, ahead of the extended deadline of May 11, 2022.

“The company would also like to emphasise that operations are continuing as usual, with a focus on managing its creditors and the Practice Note 17 restructuring process,” it said.

On April 13, 2022, Serba Dinamik, its chief executive officer Datuk Mohd Abdul Karim Abdullah, executive director Datuk Syed Nazim Syed Faisal, group chief financial officer Azhan Azmi, and vice president of accounts and finance Muhammad Hafiz Othman were compounded RM3 million each for submitting false information in the company’s financial statement.

Muhammad Hafiz was issued with an additional RM1 million compound for falsifying the accounting records of Serba Dinamik's subsidiary Serba Dinamik Sdn Bhd.

-- BERNAMA


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