SC Charges Serba Dinamik’s CEO/MD for False Information in Company’s Financial Statement

- VP of Accounts & Finance Charged for Falsifying Company’s Accounting Records

29 December 2021 |  Kuala Lumpur 

The Securities Commission Malaysia (SC) today charged Dato’ Dr. Ir. Ts. Mohd Abdul Karim Abdullah, Chief Executive Officer/Group Managing Director of Serba Dinamik Holdings Berhad (Serba Dinamik) for submitting a false statement to Bursa Malaysia Securities Berhad, an offence under section 369(a)(B) of the Capital Markets and Services Act 2007 (CMSA).

According to the SC’s charge filed at 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 the Consolidated Results for the Quarter and Year ended 31 December 2020.

Serba Dinamik, along with a director and two senior officers were charged on 28 December 2021 for the same offence which, if convicted, carries a punishment, of an imprisonment term not exceeding 10 years and a fine not exceeding RM3 million.

The accused claimed trial to the charge filed against him. Sessions Court Judge Sabariah Othman fixed bail at RM500,000 with two sureties. Dato’ Karim is also required to report to the SC on terms to be decided by the SC.

The SC today also charged Muhammad Hafiz Othman, Vice President of Accounts & Finance of Serba Dinamik at the Shah Alam Sessions Court, for falsifying the accounting records of its subsidiary Serba Dinamik Sdn Bhd.

Muhammad Hafiz was directly involved in instructing the preparation of false documentations relating to the sales of Serba Dinamik Sdn Bhd, an offence under section 368(1)(b)(i) of the CMSA.

Muhammad Hafiz claimed trial to the charge filed against him. Shah Alam Sessions Court Judge Rozilah Salleh granted bail of RM200,000 with two sureties.

If convicted, Muhammad Hafiz could face imprisonment for a term not exceeding ten years and a fine not exceeding RM1 million.

SECURITIES COMMISSION MALAYSIA

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