KUALA LUMPUR: Malaysia's Serba Dinamik Holdings will take legal action against its auditor KPMG for negligence and breach of contract, its chairman Mohamed Ilyas Pakeer Mohamed said on Tuesday .The company said it will be seeking punitive and aggravated damages from KPMG.In May, Serba said KPMG had not been able to verify contracts and transactions worth RM3.5 billion with 11 customers of the oil and gas services group.
Serba rejected the concerns and has said it saw no issues with the existence or legitimacy of the contracts.Source: Reuters/jt
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