Prior to substantial shareholder Datuk Abdul Kadier Sahib proposing to change the external auditor, Serba Dinamik Holdings Bhd’s board already wanted KPMG to resign, according to non-independent executive director Datuk Syed Nazim Syed Faisal.
KUALA LUMPUR (May 29): Serba Dinamik Holdings Bhd “has done nothing wrong”, said its group managing director and chief executive officer (CEO) Datuk Dr Mohd Abdul Karim Abdullah today in clarifying the company s audit issues recently raised by its external auditor KPMG.
The company has described KPMG as acting in an “unfair” and “peculiar” manner for going straight to the company’s independent directors to address the audit issues instead of briefing the management first.
Furthemore, the management blamed KPMG for delaying the completion of the statutory audit, which resulted in Serba Dinamik missing the audit deadline.
“The Securities Commission [Malaysia] has their rights; Bursa Malaysia has their rights [to investigate]. Based on what we believe, we have done nothing wrong,” said Abdul Karim, who is also the single largest shareholder holding a 26.93% stake in the company, at a virtual press conference today.
KUALA LUMPUR (May 28): Serba Dinamik Holdings Bhd said its non-independent non-executive director Datuk Abdul Kadier Sahib, who is also the second largest shareholder, has proposed to remove KPMG PLT as the company’s external auditor.
Holding a 15.96% stake in Serba Dinamik, Abdul Kadier has also proposed to appoint BDO PLT as the company’s new auditor “in place of KPMG PLT for the financial year ending June 30, 2021”, the company announced to the stock exchange this evening.
The proposal to change auditor came two days after the oil and gas company announced that it is commencing a special independent review after its board of directors was informed by KPMG on some matters pertaining to statutory audit.
The audit issues raised by Serba Dinamik Bhd’s auditor KPMG are in relation to the company’s sales transactions, trade receivables and payables, as well as material on site balances, according to the company’s filing with Bursa Malaysia. The announcement was made just two hours after Serba Dinamik’s non-independent non-executive director Datuk Abdul Kadier Sahib, who holds a 15.96% stake, proposed to call for an extraordinary general meeting to remove KPMG as its auditor and appoint BDO as replacement.
Thursday, 15 Apr 2021 10:56 AM MYT
Authorities setting up barbed wires to mark the EMCO areas in Bintulu. Borneo Post Online pic
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BINTULU, April 15 The implementation of the conditional movement control order (CMCO) with enhanced standard operating procedures (SOPs) in Bintulu until April 27 to stop the surge in Covid-19 cases has received mixed reactions from the public here.
Since Bintulu has recorded a high number of positive Covid-19 cases, most people are hoping that it would be placed under total lockdown for two weeks instead of just the enhanced SOPs.