The Serba Dinamik appeal for stay of the court’s order on the order to disclose facts update (FFU) was rejected by the High Court.
Judicial Commissioner Wan Muhammad Amin Wan Yahya has decided to dismiss the appeal arguing that the fact should be disclosed as it involves public interests such as investors and shareholders, but did not specify a deadline for Serba Dinamik to do so.
As a result, Serba Dinamik is understood to be able to exercise its right to appeal against the court's decision.
As a recap, Serba Dinamik had to disclose the FFU made by the independent auditor, EY Consulting which it appointed for the 12 -month financial statements ended 31 December 2020 on the direction of the High Court, however, the company has declined in writing to apply for a stay of the decision.
Meanwhile, Datuk Loh Siew Cheang, a senior lawyer representing Bursa, stated that Serba Dinamik should provide written updates twice a week to Bursa, but Serba Dinamik still did not do so.
As a result, on February 7, the court decided to authorize Bursa Malaysia to file an application against Serba Dinamik.
As a result, on February 8, Serba Dinamik revealed a bit of FFU in its filing on Bursa.
