Serba Dinamik takes legal actions against EY Consulting to block release of findings

KUALA LUMPUR: Serba Dinamik Holdings Bhd is taking Ernst & Young Consulting Sdn Bhd to Court, seeking to block its special auditor from revealing any findings from the special independent review.

The Originating Summons (OS) against EY Consulting was filed at the High Court of Malaya on Nov 5, Serba Dinamik said today.

Serba Dinamik, in July, appointed EY Consulting as the independent reviewer on Bursa Securities' directive to assess the veracity of the audit issues raised by its former auditor KPMG.

Serba Dinamik said the circumstances leading to the filing of the Originating Summons was based on its contention that the appointment of EY Consulting as a special auditor to conduct a Special Independent Review was "void ab initio," or having no legal effect.

"Serba Dinamik is also seeking interim injunctive relief against EY Consulting pending the full and final disposal of OS to restrain EY Consulting from releasing, revealing, divulging and/or disseminating any findings, report, memorandum, opinion about Serba Dinamik and its group of companies, whether in whole or in part, to anyone, in any format, whether in print, electronically, or via any media or forum," it said.

"Serba Dinamik is also seeking restitution and/or damages against EY Consulting," it said.

The application for interim injunctive relief is fixed for hearing on Nov 11, 2021 and the case management for the OS has been fixed on Nov 17, 2021.