The resumption of the trading session of Serba Dinamik Holdings Bhd was not as glorious as expected.
Generally, the Serba Dinamik suspension by Bursa Malaysia has been lifted and the company is scheduled to resume its trading session on Monday, May 9.
Even so, some brokers have demanded cash upfront for any purchase of company securities.
Affin Hwang Investment Bank’s note states that any purchase including Versatile warrants requires sufficient cash in the investor’s trust account as the counter is categorized as ‘non-marginable’ and has no value to the shares in terms of collateral valuation.
Meanwhile, Kenanga also stated that only cash is allowed for any purchase of Serba Dinamik based on the company's financial condition as well as the Special Independent Study.
On the other hand, Serba Dinamik Holdings Bhd saw its shares re -traded today down 23 sen or 65.71%.
It indirectly signaled the stock slipped to a new low of 12 cents during morning trading on Monday, May 9th.
Moreover, the company’s warrants declined by 5 sen or 71.43% at 2 sen.
As of 10 this morning, Serba Dinamik was at 14 sen, down 21 sen or 60% while its warrants worth 3 sen were down 4 sen or 57.14%.
Meanwhile, Serba Dinamik was the most actively traded counter with 346.38 million shares.
The last time the counter was traded was on May 25, 2021 at RM1.61 before the issue with the former auditor, KPMG came to attention.
