KUALA LUMPUR (June 14): Serba Dinamik Holdings Bhd’s board had agreed in principle to appoint Ernst & Young Advisory Services Sdn Bhd (EY) as its independent reviewer to "assess veracity and accuracy" of the matters highlighted by external auditors KPMG PLT.
In a bourse filing, the group said an updated announcement will be made upon the finalisation of terms and conditions of the said appointment.
In separate bourse filings, the group also announced that it was appointing Datuk Mohamed Ilyas Pakeer Mohamed, Masleena Zaid and Johan Mohamed Ishak to its board as independent and non-executive directors.
Johan, 45, had served as the chief executive officer of Media Prima Bhd between 2017 and 2020, and since then has occupied the role of managing director of Awesome Media Network Sdn Bhd, where Ilyas, 65, is chairman.
Meanwhile, Masleena, 45, is managing partner at Messrs Masleena, Yee & Partners. She was previously head of section at the Companies Commission of Malaysia from July 2008 to December 2009 and prosecuting officer at the Securities Commission of Malaysia between February 2001 and June 2008.
She also is a director of De Apex Force Security & Consultancy Sdn Bhd.
Both Masleena and Ilyas hold directorships at AP Holding Bhd. In the case of Ilyas, he is AP Holding’s chairman, while Masleena is a director there.
Serba Dinamik had announced it intended to conduct an independent review on the audit issues raised by KPMG. The company revealed some details of issues that the auditors had cast doubts on, including sales transactions, receivables and payables to the tune of over RM3 billion.
At the time of writing, shares in Serba Dinamik were the most actively traded on Bursa Malaysia, registering a volume of some 166.84 million shares. The counter was down 8.26% or five sen at 55.5 sen, valuing it at RM2.06 billion.
Serba Dinamik's external auditors flag statutory audit matters, to set up independent review
Serba Dinamik falls to new low of 54 sen amid heavy selling in morning trade
Serba Dinamik reverses course, rises by as much as 24.8% in afternoon trade
MSWG: Serba Dinamik entitled to second opinion