Last week, its group managing director and chief executive officer Datuk Mohd Abdul Karim Abdullah disposed of his entire holdings of 55.9 million warrants in Serba Dinamik. Fund managers and analysts said the disposal raised eyebrows ahead of the release of the special independent review. Credit rating agency S&P Global Ratings has downgraded Serba Dinamik lower to “CCC” from “B-” to reflect the group’s sizeable debt maturities of RM1.7bil. Trading in Serba Dinamik securities, including all warrants, have remained suspended since the afternoon of Oct 22. “It is important for Serba Dinamik to be transparent and provide speedier disclosure, as these are among the key actions for all public companies to observe,” said the fund manager.

Source: The Star October 28, 2021 05:25 UTC