Serba Dinamik Bhd’s standoff with market regulators and two major accounting firms over its delayed financial statements is becoming a joke. In the meantime, the shares of Serba Dinamik have plunged substantially, as institutional investors like Employee Provident Fund and Kumpulan Wang Persaraan (Diperbadankan) (KWAP) showed how they felt. Instead, Serba Dinamik has also challenged the review done by EY Consulting and defied the directive of Bursa to make the findings public. It went one step further by also suing EY Consulting and Bursa to stop any disclosure of the review done by EY Consulting to anyone. We say this to Serba Dinamik: If the information contained in the EY Consulting review is not “material”, meaning it is not significant, why don’t you just release them to prove that you are right and that KPMG, EY Consulting and Bursa are wrong?

Source: The Edge Markets November 17, 2021 09:27 UTC