ENERGY firm Serba Dinamik Holdings Bhd is seeking to stop a winding-up order for the company and three of its subsidiaries over a RM5 billion debt on the grounds that it goes against “national and strategic interests”.

Congratulations to Serba Dinamik on being appointed by the government to deliver projects or assets that are of national and strategic interests.

But what are these projects or assets that are of such importance?

Pharmaniaga was deemed to be embarking on a project of national interest when it was appointed to rebottle the Sinovac vaccines.

Destini, another company listed on the Main Board, is contracted to do maintenance work for the Defence Ministry.

Boustead Holdings through its subsidiary is building littoral combat ships for the navy.

Shouldn’t Serba Dinamik have announced any such projects it was awarded?

The fact that the company did not inform Bursa Malaysia about its high-value deals with the government appears to be a breach of the listing rules.

The company is already unable to pay its RM5 billion debt to several financial institutions. Once a company is sued by creditors for non-payment, other lenders will not be lining up to lend the company money.

Under such circumstances, how does the company plan to finance the high-value deals of “national and strategic interests”?

* FLK reads The Malaysian Insight.

* This is the opinion of the writer or publication and does not necessarily represent the views of The Malaysian Insight. Article may be edited for brevity and clarity.