KUALA LUMPUR (June 9): Serba Dinamik Holdings Bhd rebounded as much as 4.5 sen or 7.26% to 66.5 sen this morning as buying interest emerged after its shares plunged 61.49% to a new low of 61 sen yesterday following audit issues that were raised over a week ago.
At 10.08am, Serba Dinamik had pared some gains at 64.5 sen, still up 2.5 sen or 4.03% from the previous day’s close at 62 sen.
The counter was the most actively traded stock this morning, with 125.76 million shares traded.
Stocks linked to its group managing director and chief executive officer (CEO) Datuk Dr Mohd Abdul Karim Abdullah also rebounded this morning.
KPower Bhd (formerly known as Kumpulan Powernet Bhd) gained as much as 10 sen or 9.62% to RM1.14 before settling at RM1.09 at 10.10am.
The counter saw 11.65 million shares traded.
Shares in Sarawak Consolidated Industries Bhd (SCIB), meanwhile, climbed as much as four sen or 4.71% to 89 sen this morning before settling at 86 sen at the time of writing.
It saw 9.59 million shares change hands.
Serba Dinamik was in the news nearly two weeks ago, when it announced at the end of May its intention to conduct a special independent review after the company's board of directors was informed by its external auditor KPMG of some accounting issues pertaining to its statutory audit of the group.
According to Serba Dinamik, KPMG raised issues relating to the group’s sales, trade payables and material on site balances involving 11 parties which accounted for total sales transactions of RM2.32 billion, a trade receivables balance of RM652 million and materials on site balance of RM569 million.
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