Abdul Karim, who was initially thought to be at large and even had a warrant of arrest made against him, was present at the Kuala Lumpur Sessions Court yesterday when he was charged under Section 369 of the Capital Markets and Services Act 2007 .The charge involved an alleged false statement in relation to the revenue figure of RM6.014bil contained in Serba Dinamik’s quarterly report on consolidated results for the period ended Dec 31, 2020.
Sabariah set a RM500,000 bail with two sureties and ordered Abdul Karim to report to an SC investigative officer, pursuant to a schedule that will be determined by the commission at a subsequent date. The SC said Muhammad Hafiz was directly involved in instructing the preparation of false documentations, an offence under Section 368 of the CMSA.“Shah Alam Sessions Court Judge Rozilah Salleh granted bail of RM200,000 with two sureties.
“The downgrade follows the expiry of the 30-day grace period after the non-payment of the coupon on the group’s US$222mil senior unsecured sukuk due in 2022. The suspension, which began on Oct 22, was made following the failure by Serba Dinamik to reveal the “factual findings update” from E&Y Consulting Sdn Bhd’s special independent review.
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