KUALA LUMPUR: The High Court right here at present ordered Serba Dinamik Holdings Bhd
to make a public announcement on the Factual Findings Update (FFU) by Ernst & Young Consulting Sdn Bhd (E&Y Consulting), appointed to conduct a particular unbiased review (SIR) on the corporate.
Judicial Commissioner (JC) Wan Muhammad Amin Wan Yahya ordered the oil and fuel engineering firm to disclose the stated FFU inside two market days from the date of this order.
In his determination, the JC stated the courtroom was empowered to grant reliefs sought by Bursa Malaysia Securities Bhd, which had filed the applying towards Serba Dinamik (defendant) below Section 360 of the Capital Market and Services Act 2007 (CMSA).
“The info sought to be introduced (within the FFU) is materials and doesn’t rely on whether or not it’s true, false or conclusive. The defendant is entitled to disagree with the knowledge to be disclosed.
“Bursa Malaysia is entitled and empowered below Section 11 of CMSA to give the directive so as to uphold and keep a good and orderly securities market to safeguard the general public and buyers’ pursuits, in addition to take acceptable motion below the Main Market Listing Requirements (MMLR) for the aim of monitoring and guaranteeing compliance with the (MMLR).
“In the circumstances, the courtroom permits Enclosure 1 (the applying by Bursa Malaysia towards Serba Dinamik) to be compelled to reveal the FFU,” he stated.
During at present’s on-line continuing, the courtroom additionally dismissed Serba Dinamik’s software to expunge elements of Bursa Malaysia’s affidavit relating to the FFU.
The matter was confirmed by counsel Chris Leong, who held a watching transient for the Securities Commission Malaysia (SC).
Last November, Bursa Malaysia filed an originating summons to compel Serba Dinamik to disclose the FFU of the SIR dated Sept 30, 2021 carried out by EY Consulting.
The authorized motion was taken due to Serba Dinamik’s failure to adjust to the inventory alternate’s directive on Oct 22, final yr for the disclosure. – Bernama
