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June 9, 2021

Serba Dinamik Back to ‘Breathing’

 Shares of Serba Dinamik Holdings Bhd rebounded after recording an increase of 4.5 sen or 7.26% to 66.5 sen during this morning's trading session.

The surge was driven by buying interest after its shares fell by 61.49% to a low of 61 sen yesterday following audit issues raised recently.

At 10.08am, Serba Dinamik hit 64.5 sen, up 2.5 sen or 4.03% from 62 sen when it closed yesterday.

The counter was the most actively traded stock this morning with 125.76 million shares traded.

Shares related to the Managing Director and Chief Executive Officer (CEO) of the company, Datuk Dr. Mohd Abdul Karim Abdullah also bounced back this morning.

Shares of KPower Bhd rose 10 sen or 9.62% to RM1.14 before hitting RM1.09 at 10.10am.

The counter saw 11.65 million of its shares change hands.

Meanwhile, shares of Sarawak Consolidated Industries Bhd (SCIB) also rose 4 sen or 4.71% to 89 sen this morning before hitting 86 sen.

The counter saw 9.59 million shares traded.

Serba Dinamik has been gaining coverage since last week after announcing a move to conduct a special independent review after the company's board of directors was informed by its external auditor, KPMG of several accounting issues related to its statutory audit.

According to Serba Dinamik, KPMG has raised issues related to the total sales transactions of RM2.32 billion, trade debt of RM652 million and the remaining ‘on site’ materials of RM569 million involving 11 parties.