KUALA LUMPUR, May 18 — Serba Dinamik Holdings Bhd and its subsidiaries have identified some assets for immediate sale to generate the cash flow required to meet the companies’ liabilities.
“The board of directors of the company is of the view that the applications for scheme are in the best interest of the Serba Dinamik Group and its creditors as the proposed scheme of arrangement proposes a 100 per cent return to the company’s creditors.The company will make further announcement as and when there are material developments on the above matter.
This had in turn led to a high inventory level and the slowing down of the conversion of inventory to cash and cash equivalent, resulting in collection to slow down, it said.
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