But from a different perspective, there are questions on whether Bursa Malaysia has lifted the suspension a little too soon, considering that doubts still remain over the validity of its accounts.Serba Dinamik Holdings Bhd
From May 9 onwards, investors can once again trade the Serba Dinamik stock, which was suspended on Oct 27, 2021. Not to mention that the auditors too are unable to express an opinion on the status of Serba Dinamik’s financial statements. Minority Shareholders Watch Group CEO Devanesan Evanson, who had previously questioned the reason behind compounding four top-most executives of Serba Dinamik instead of charging them in court, said Serba Dinamik – like other listed companies – is subject to market risk.Secondly, there is an active market for shareholders to execute their informed investment decisions.
“Prolonged suspension of a stock can reflect badly on the stock exchange in the eyes of fund managers, because such a move impacts their investment decisions. “If the 26-page letter issued on April 21 was so clear to Bursa Malaysia, why didn’t Bursa Malaysia allow trading in Serba Dinamik shares to take place soon after?
Meanwhile, Pankaj does not think that Serba Dinamik’s shareholders have been unfairly punished as “everyone should know the risk involved.”“The issue of trading suspension on Serba Dinamik was not all sudden and was built up over a course of time. “It leaves investors licking their wounds as both equity and bond investors are now sitting on losses, while creditors are left with no choice but to serve a winding up petition on the company,” he said.
Interestingly, it was reported that the SC and Bursa Malaysia had objected to the AGC’s decision to settle the criminal charges via mere compounds.
Stop preaching integrity and corporate governance from hereon. You both are blardy joke BursaMalaysia SecComMY