THE Attorney-General’s Chambers has conditionally accepted representations from Serba Dinamik Holdings Bhd, CEO Mohd Abdul Karim Abdullah and other top executives, separate Sessions Courts heard today.

The representations may result in the accused facing reduced punishment, including only a compound.

The Sessions Courts judges today were informed of the conditional acceptance covering Serba Dinamik, its CEO, executive director Syed Nazim Syed Faisal, CFO Azhan Azmi, and accounts and finance vice-president Muhammad Hafiz Othman, according to The Edge.

They were informed that the representations are “agreeable” depending on certain conditions being fulfilled by Securities Commission Malaysia deputy public prosecutor Hashley Tajudin.

Serba Dinamik’s proceedings were held before Sessions Court judge Emelia Kaswati Mohamad Khalid; Syed Nazim’s before judge Ahmad Kamar Jamaludin; and, Hafiz’s before judge Sabariah Othman.

Case mentions are fixed on May 13, to update the court on whether each accused complied with the conditions set out by the AGC.

The aforementioned conditions were not disclosed during proceedings today, according to The Edge.

Lawyer Wan Aizuddin Wan Mohammed, representing Serba Dinamik and Karim, and Hashley, too, did not disclose the conditions or details of the representations when approached.

According to Serba Dinamik counsel Mak Lin Kum, it is understood that company officials agreed to them being compounded rather than charged.

Mak said this in a separate proceeding at the appelate court, in the company’s appeal against a High Court decision on being required by Bursa Malaysia Securities Bhd to disclose the fact finding update done by Ernst & Young Consulting Sdn Bhd.

Serba Dinamik was charged under section 369(a)(B) of the Capital Markets and Services Act 2007, while its officers were charged under the same section read together with section 367(1) of the same Act on December 28.

The charges are in relation to RM6.014 billion revenue contained in the company’s financial report for the quarter and year ended December 31, 2020.

Section 369(a)(B) of the Act stipulates that a person who, with the intention to deceive, makes or furnishes any false or misleading statement or report to the commission, a stock exchange, a derivatives exchange or an approved clearing house relating to the affairs of a listed corporation commits an offence.

Independent non-executive director Abu Bakar Uzir appeared for Serba Dinamik to answer the charge against the company when it claimed trial.

Hafiz was slapped with another charge on December 29, for allegedly creating fictitious sales, causing falsified revenue to be recorded in the company’s earnings report for the quarter and year ended December 31, 2020. – April 11, 2022.