KUALA LUMPUR (May 26): Serba Dinamik Holdings Bhd was the top most active counter on Bursa Malaysia on Thursday morning (May 26) and its share price was up 20% or two sen to 12 sen.
Trading volume stood at 68.2 million shares as at the time of writing.
On Wednesday, Bursa filings showed that Serba Dinamik group managing director and chief executive officer Datuk Dr Mohd Abdul Karim Abdullah had been forced to sell more shares in the company — this round involving 16.99 million shares representing a 0.458% stake.
The filings showed that the forced disposal of the shares was done in two blocks of 3.54 million and 13.45 million shares on Monday and Tuesday respectively.
The filings also showed that the latest round of forced selling trimmed his stake in Serba Dinamik to 20.368% or 755.57 million shares.
A few weeks ago, Serba Dinamik and its four top executives that included Mohd Abdul Karim were given a discharge and acquittal after paying RM16 million in compounds issued by the Securities Commission Malaysia (SC).
The discharge and acquittal were for the charge by the SC under Section 369(a)(B) of the Capital Markets and Services Act for submitting a false statement involving revenue of RM6.01 billion for the financial period ended Dec 31, 2020.