KUALA LUMPUR (Dec 29): The Securities Commission Malaysia (SC) was charging Serba Dinamik Holdings Bhd vice-president of accounts and finance Muhammad Hafiz Othman in the Shah Alam Sessions Court on Wednesday (Dec 29) morning for alleged breach of the Capital Markets and Services Act 2007 (Act 671) (CMSA) and punishable under Section 368(2) of the same Act.
This is the latest executive of Serba Dinamik that has been charged by the SC following the regulator's investigation into the company's financial accounts.
The commission on Tuesday charged engineering services provider Serba Dinamik, its director and officers with submitting a false statement to Bursa Malaysia, an offence under Section 369(a)(B) of the CMSA.
In a media statement on Tuesday, the SC said it had also secured a warrant of arrest against Serba Dinamik group managing director and chief executive officer Datuk Dr Mohd Abdul Karim Abdullah, who is currently at large.
"According to the SC’s charges filed in the Kuala Lumpur Sessions Court, the false statement is in relation to the revenue figure of RM6.014 billion contained in Serba Dinamik’s quarterly report on its consolidated results for the quarter and year ended Dec 31, 2020.
"The individuals charged today (Tuesday) are the company’s executive director Datuk Syed Nazim Syed Faisal, group chief financial officer Azhan Azmi, and vice-president of accounts and finance Muhammad Hafiz Othman.
"All three accused claimed trial to the charges filed against them,” the SC said.
The commission said Serba Dinamik independent non-executive director Abu Bakar Uzir who appeared for the company to answer to the charge also claimed trial.
The SC added that under Section 369(a)(B) of the CMSA, a person found to have made a false or misleading statement to the SC, the exchange or approved clearing house, if convicted, faces an imprisonment term not exceeding 10 years and a fine of not less than RM3 million or both.
"The SC’s investigation into Serba Dinamik started in May 2021 following a Section 320 CMSA report by KPMG to the SC. Under the CMSA, auditors have a statutory obligation to immediately report to the SC if they reasonably believe that there are any matters that may constitute a breach or non-performance of any requirement of securities laws, rules of the stock exchange or any matter that may adversely affect to a material extent the financial position of a listed company,” the SC said.