KUALA LUMPUR (Dec 28): Serba Dinamik Holdings Bhd and its officers have been charged by the Securities Commission Malaysia (SC) for submitting a false statement to Bursa Malaysia Securities Bhd.
In the Sessions Court here on Tuesday (Dec 28), Serba Dinamik was charged under Section 369(a)(B) of the Capital Markets and Services Act 2007 involving a false statement relating to the revenue recorded by the group in its financial report for the fourth quarter ended Dec 31, 2020 (4QFY20).
The oil and gas giant’s executive director Datuk Syed Nazim Syed Faisal, group chief financial officer Azhan Azmi, and vice-president of accounts and finance Muhammad Hafiz Othman were each respectively charged under Section 369(a)(B), read together with Section 367(1) of the same Act.
Section 369(a)(B) of the Capital Markets and Services Act stipulates that a person who, with the intent 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.
The group and its executives were charged in two separate Sessions Court on Tuesday.
Before Sessions Court Judge Sabariah Othman, the executives — represented by lawyer L.K Mak — all pleaded not guilty to the charge framed under Section 369(a)(B).
Judge Sabariah set RM300,000 bail with two sureties each for the three accused. The Sessions Court judge also ordered the three officers to surrender their passports and report once a month to the nearby SC office.
Elsewhere, before Sessions Court Judge Hamidah Mohamed Deril, Serba Dinamik non-independent executive director Abu Bakar Uzir on behalf of the group also pleaded not guilty to the same charge.
The accused parties, if convicted, face a term of imprisonment not exceeding 10 years and a fine not exceeding RM3 million.
The prosecution consisted of Deputy Public Prosecutors Hashley Tajudin and Zul Aida Zulkifli.
Meanwhile, the SC also relayed its intent to charge Serba Dinamik group managing director and chief executive officer Datuk Dr Mohd Abdul Karim Abdullah, whom the commission is currently trying to locate.
The SC has filed an application for a warrant of arrest for Abdul Karim.
The court has fixed Jan 27 as the next hearing date.