KUALA LUMPUR – Serba Dinamik Holdings Bhd and its top executives have completed the full settlement of their RM16 million compound, according to a statement released by the energy services firm today.
The payment was made prior to the extended deadline of May 11, it said.
“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.
Serba Dinamik and four of its senior executives were charged last December for submitting a false statement to Bursa Malaysia Sdn Bhd relating to the company’s record high revenue of RM6.01 billion for a 12-month period.
The Securities Commission (SC) said the individuals involved were Serba Dinamik CEO and group managing director Datuk Mohd Abdul Karim Abdullah, executive director Datuk Syed Nazim Syed Faisal, group chief financial officer Azhan Azmi and accounts and finance vice-president Muhammad Hafiz Othman.
About three weeks ago, the Attorney-General’s Chambers (AGC) withdrew the charges after accepting a letter of representation from the accused.
Subsequently, the SC had imposed a maximum compound of RM3 million against the oil and gas company and each of the senior executives involved, noting that the public prosecutor had provided written consent for the compound.
Last week, the Malaysian Bar had called on the AGC to reveal why it had withdrawn charges, with Bar vice-president Mohamad Ezri Abdul Wahab saying that clarification must be provided as the case is of public interest.
Opposition leader Datuk Seri Anwar Ibrahim had previously called for illumination on the matter while Muda vice-president Lim Wei Jiet urged the government to explain the resignation of several top officials from the SC. – The Vibes, May 12, 2022
