Sarba Is Not Dynamic Anymore, Withdraws Appeal After Shares Hit 1 Sen


 'Why is it so difficult to disclose the findings of the income report, as if something is wrong.'

Just yesterday the shares of Serba Dinamik Holdings Bhd fell to 1 sen, now the company is reported to have withdrawn its court appeal against Bursa Malaysia Securities Bhd.

In general, Serba Dinamik's trading is on the verge of suspension on Friday (December 23) following the failure to submit the 2022 annual report before the December 22 deadline.

However, the main headline today is the action of Serba Dinamik which withdrew the appeal claim made last February 10 instead of presenting the discovery disclosure.

In light of the lawsuits, the company accused Bursa Malaysia of overstepping its jurisdiction by conducting a special independent review (SIR) and finding disclosure requirements.

However, the High Court rejected the charge, and Serba Dinamik filed an appeal before being rejected by the Court of Appeal on April 12.

Not giving up, the company filed another appeal to fight the initial lawsuit by the Exchange on the company's alleged violation of listing requirements and disclosure of discovery facts.

So far there has been no response from either party regarding the withdrawal of the summons or the disclosure of the annual report that needs to be disclosed.

At the time of writing, Serba Dinamik's shares were also down 33.33% at 1 sen.