Serba Dinamik warns of financial impact

Fitch Ratings Cnary Wharf london

PETALING JAYA: Serba Dinamik Holdings Bhd has warned that its financial performance may be significantly impacted after it confirmed that its subsidiary has defaulted on its interest payment for a US$222.22mil (RM940mil) sukuk.

Serba Dinamik also warned that the default, amounting to US$6.5mil (RM27.5mil) in interest payment, would give rise to several other potential events of default by virtue of the “cross-default provision under the respective financing agreements”.