Further to the recent revelations of Serba Dinamik Chief Executive Officer and his cohorts being charged in court, the Securities Commission has confirmed that the charges on CEO Dato’ Dr. Ir. Ts. Mohd Abdul Karim Abdullah was for submitting false statements to Bursa Malaysia Securities Berhad. This is an offence under section 369(a)(B) of the Capital Markets and Services Act 2007.
According to the Commission, the charge filed at the Kuala Lumpur Sessions Court is in relation to the revenue figure of RM6.014 billion contained in Serba Dinamik’s Quarterly Report on the Consolidated Results for the Quarter and Year ended 31 December 2020. The company listed on the main market along with a director and two senior officers were charged by SC on 28 December 2021 for the same offence which, if convicted, are facing prison terms not exceeding 10 years and or a fine of not less than RM3 million.
Sessions Court Judge Sabariah Othman fixed bail at RM500,000 with two sureties, CEO Dato’ Karim is also required to report to the SC on terms to be decided by the commission. Also charged is Muhammad Hafiz Othman, Vice President of Accounts & Finance for falsifying the accounting records of its subsidiary Serba Dinamik Sdn Bhd. He was directly involved in instructing the preparation of false documentation relating to the sales of Serba Dinamik Sdn Bhd, an offence under section 368(1)(b)(i).
He claimed trial to the charge filed against him and was granted bail of RM200,000 with two sureties if convicted could be facing 10 years imprisonment.
