It has fallen on the stairs.
The High Court has dismissed Serba Dinamik Holdings Bhd's application to change the same judge who presided over the company's suit against Bursa Malaysia Securities Bhd.
The company has applied for the change of Judge Datuk Ahmad Fairuz Zainol Abidin to chair their suit on the grounds that he had served in the Securities Commission Malaysia (SC) in the past.
Judge Ahmad Fairuz in delivering his decision on Thursday through Zoom stated that he had no indication of the danger of bias and did not side with any party in making the decision.
Earlier, judge Ahmad Fairuz had ordered Serba Dinamik to pay RM20,000 to Bursa and had set January 17 as the hearing date for the company's interim injunction application which had blocked the issuance of fact -finding updates on its finances by special independent reviewer E&Y Consulting Sdn Bhd.
In its suit against Bursa filed in November, Serba Dinamik sought to revoke the appointment of E&Y Consulting under Bursa's direction to conduct a special independent review.
The oil and gas engineering services company also applied for the release of an interim injunction against the Exchange to prevent the stock exchange from issuing updates pending the disposal of the suit.
Serba Dinamik is currently under public regulation and scrutiny on several issues raised by KPMG's external auditors at the time involving its accounts for the 12 -month period ended 31 December 2020.
The company has also passed the December 8 deadline to issue its annual report also at risk of failing to pay sukuk by the end of the grace period on Thursday December 9 after losing US $ 7 million or RM29.52 million.
The company’s shares have been suspended from trading since Oct. 22 after they rejected the Exchange’s directive to disclose factual findings information to the public.
At noon, Serba Dinamik traded 35 sen with a market capitalization of RM1.3 billion.
