Serba Dinamik says EY review on-going, gets one-month extension to submit accounts

KUALA LUMPUR: Serba Dinamik Holdings Bhd said the stock exchange operator has approved its request to delay the issuance of its annual report and annual audited financial statement by a month until Nov 30.

The annual report and the annual financial statement were supposed to be submitted by end of this month.

Separately, the oil and gas service company also said that Ernst & Young Consulting Sdn Bhd was still in the midst of performing the special independent review on audit issues raised in May by its former external auditors.

On Friday, Bursa Malaysia has directed Serba Dinamik to announce the findings from the "Factual Findings Update on the Special Independent Review" by Oct 26.

Trading of securities in Serba Dinamik have been suspended since Friday.

Serba Dinamik, in its reply to the exchange today, said there were no documents or copy of any documents that fit the description of “Factual Findings Update" as at Sept 30 given to its independent non-executive directors as at Oct 22.

Serba Dinamik also said that the terms of engagement between Ernst & Young Consulting Sdn Bhd and the company dated 2 July 2021:-

a) has provided that no work products will be distributed to any parties including the regulators before and/or after the status update;

b) prohibits any quoting or references to any report, any portion, summary or abstract thereof.

It added that any documents or report from Ernst & Young Consulting Sdn Bhd does not fall within paragraph 9.03 and 9.35A of the Main Market Listing Rules.