THE Serba Dinamik Holdings Bhd shares trading suspension will be lifted from 9am on May 9.

This follows the company’s move to announce the fact-finding update (FFU) conclusion, in compliance with Bursa Malaysia’s directive.

Serba Dinamik shares trading was suspended on October 27, after it failed to comply with the directive.

Bursa Malaysia Securities Bhd in a statement today said the FFU findings contain Serba Dinamik’s views and these comments and rebuttals do not represent its views on the matter and will not be responsible to check the accuracy, completeness or adequacy of any of the same.

“Bursa Securities wishes to highlight the statements made in the announcement relating to the circumstances surrounding the appointment of Ernst & Young Consulting Sdn Bhd, terms of its appointment, the fact that EY did not sign the FFU and lack of powers on the part to issue the directive to Serba Dinamik are raised by Serba Dinamik as issues in the civil proceedings between Bursa Securities and Serba Dinamik.”

The High Court has dismissed these issues in two sets of civil proceedings, it added.

Bursa Securities reiterated that its directive also required, among others, Serba Dinamik to announce the impact of the FFU on its business, financial status and operation, complete the special independent review (SIR) with EY, and provide or instruct its agent or servant to furnish biweekly written updates of the review to Bursa Securities.

It said to date, the SIR has yet to be completed or finalised.

Serba Dinamik’s independent auditor, Nexia SSY PLT – engaged to audit the financial statements for financial period ended June 30, 2021 – has not expressed any opinion on said financial statements, as it has not been able to obtain appropriate and sufficient audit evidence to provide a basis for an audit opinion. – Bernama, April 29, 2022.