KUALA LUMPUR (March 28): Malaysia Space Agency (Mysa)’s letter of support to Serba Dinamik Group Bhd back in 2021 was merely a gesture of encouragement for the latter to explore its potential in satellite technology and is non-binding, according to the Ministry of Science, Technology and Innovation.   

“For the time being, this plan by Serba Dinamik was not implemented and Mosti's letter of support is only an encouragement to their efforts, and does not bind the government to give any commitment to the company,” it said in a parliamentary written reply on Tuesday (March 28).   

In 2021, Mosti, through Mysa, issued a letter of support to Serba Dinamik for the latter’s intention to explore the potential of satellite and space technology in Malaysia through private funding initiative (PFI).   

“Mosti, through Mysa, always provides support and encouragement to local companies that are active, particularly through PFI to boost the growth of the space industry and potentially contribute to the growth of the country's economy,” it said.   

“Based on the Space Industry Ecosystem Study conducted by Mosti through Mysa, up to 2020, there are at least 63 local companies identified as being involved in space technology-related activities in Malaysia,” it added.   

Mosti was responding to government backbencher Yeo Bee Yin [DAP-Puchong], who asked the government to state the reasons why Mysa provided a letter of support to Serba Dinamik in 2021 and the latest status of the cooperation between these two parties. 

Serba Dinamik Group Bhd is a unit of troubled engineering services group Serba Dinamik Holdings Bhd, which was caught in the scandal over dubious transactions amounting to RM4.54 billion and inflated revenue figures. The latter’s shares have been suspended from trading following a winding up order by the court against the company.

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