InstaForex

July 6, 2021

EY's Final Appointment, Serba Dinamik Shares Rocket!

 Shares of Serba Dinamik Holdings Bhd jumped three sen or 7.79% to 41.5 sen during the Bursa Malaysia trading session this morning after the company finalized the appointment of Ernst & Young Consulting Sdn Bhd (EY) as a special independent valuer to check the validity and accuracy of the matters raised. by the former external auditor, KPMG PLT.


At 10.13am, Serba Dinamik shares rose to 41 sen with 196.82 million shares traded.


The counter is the most actively traded stock on Bursa Malaysia to date.


At 41 sen, the company's market value is around RM1.52 billion based on its 3.71 billion issued shares.



Earlier, Serba Dinamik shares closed higher for three consecutive days after the counter recorded a low of 32 sen on Tuesday last week.


The Serba Dinamik share price dropped to its current level from the closing price of RM1.61 on May 25.


Serba Dinamik has been receiving coverage since the end of May when the company announced that KPMG had informed about several matters related to its statutory audit.


Last Friday, Serba Dinamik, through its notification to Bursa, decided to finalize the appointment of EY as a special independent assessor following discussions between the company and Bursa Malaysia which saw EY's reputation as one of the largest auditing firms.


"The appointment of EY was also made based on instructions from Bursa Malaysia in accordance with Paragraphs 2.23 and 2.24 of the Main Market Listing Requirements of Bursa Malaysia," said Serba Dinamik.