Friday 29 Mar 2024
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KUALA LUMPUR (April 11): A representation for Serba Dinamik Holdings Bhd, its chief executive officer (CEO) Datuk Mohd Abdul Karim Abdullah and its other top executive officers has been conditionally accepted by the Attorney-General’s Chambers (AGC), the Sessions Courts were told.

Separate Sessions Court judges on Monday (April 11) were informed that a representation which covered Serba Dinamik, its CEO, executive director Datuk Syed Nazim Syed Faisal, group chief financial officer Azhan Azmi and vice-president of accounts and finance Muhammad Hafiz Othman’s representation was conditionally accepted by the AGC. 

Before Sessions Court Judge Kamarudin Kamsun, Securities Commission Malaysia Deputy Public Prosecutor (DPP) Hashley Tajudin told the court that a representation was sent to the AGC, which was “agreeable” contingent on certain conditions being fulfilled. 

Similar proceedings were held before other Sessions Court judges, whereby the courts were told that a representation covering each of the accused was sent to the AGC, of which was conditionally accepted.  

Muhammad Hafiz’s proceedings were held before Sessions Court Judge Sabariah Othman, Syed Nazim’s proceedings were before Sessions Court Judge Ahmad Kamar Jamaludin, whereas Serba Dinamik’s was held before Sessions Court Judge Emelia Kaswati Mohamad Khalid.

The respective Sessions Courts fixed May 13 for mention to update on whether each respective accused complied with the conditions set out by the AGC. The aforementioned conditions were undisclosed during Monday’s proceedings.

After the proceedings before Judge Kamarudin, DPP Hashley, when asked by theedgemarkets.com, did not disclose the conditions or details of the representation. Likewise, Serba Dinamik and Abdul Karim’s lawyer Wan Aizuddin Wan Mohammed, when asked, did not disclose details or conditions of the representation.

It is understood that the company officials have possibly agreed to them being compounded rather than being charged.

This was disclosed by Serba Dinamik's counsel Mak Lin Kum, at the Court of Appeal, in a separate proceeding over its appeal over the High Court's decision on being required by Bursa Malaysia Securities Bhd to disclose the fact finding update (FFU) done by Ernst & Young Consulting Sdn Bhd.

On Dec 28, the group was charged in the Sessions Court under Section 369(a)(B) of the Capital Markets and Services Act 2007, while its officers were charged under the same Section read together with Section 367(1) of the same Act.

The respective charges were in relation to a revenue figure of RM6.014 billion contained in Serba Dinamik’s financial report for the quarter and year ended Dec 31, 2020.

Section 369(a)(B) of the Act stipulates that a person who, with the intention to deceive, makes or furnishes any false or misleading statement or report to the commission, a stock exchange, a derivatives exchange or an approved clearing house relating to the affairs of a listed corporation commits an offence.

Independent non-executive director Abu Bakar Uzir had appeared for Serba Dinamik in the Sessions Court to answer the charge against the group when it claimed trial. 

On Dec 29, Muhammad Hafiz was slapped with another charge in the Shah Alam Sessions Court for allegedly creating fictitious sales, causing falsified revenue to be recorded in Serba Dinamik’s earnings report for the quarter and year ended Dec 31, 2020. 

Edited BySurin Murugiah
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