Trading curbs on Serba Dinamik securities


KUALA LUMPUR: At least one brokerage has imposed buying and selling restrictions and imposed different curbs on Serba Dinamik Holdings Bhd shares because it resumed buying and selling on May 9.

The oil and gasoline counter has been suspended since October 27, 2021. It was final traded at 35 sen.

ALSO READ: Caution needed on Serba Dinamik

“In view of the uncertainty of Serba Dinamik’s financial well being pending the outcome of the impact of the accounting irregularities, we anticipate volatility of the share price once trading is resumed on its shares/ warrants.

“As such, the management has decided that with effect from May 9, we will be imposing a trading restriction on the purchase of Serba Dinamik’s shares/ warrants in all trading accounts (including margin and no trading is allowed for proprietary trading account), wherein 100% upfront cash payment/ cleared fund (if payment is by cheque) before entering any purchase contract,” the brokerage stated in a be aware to purchasers.

In addition, it stated Serba Dinamik’s shares/warrants shall even be categorized as non-marginable counters on the similar time.

ALSO READ: Regularisation plan in the works

In line with the buying and selling restriction, the brokerage stated Serba Dinamik’s shares/ warrants could be suspended from buy within the buying and selling system.

“Should clients wish to purchase Serba Dinamik shares/ warrants, please ensure they have sufficient cash in trust account/ cleared fund before requesting credit management staff to uplift the buy suspension,” it stated.

In a separate assertion, Bursa Malaysia suggested traders to train warning and to make knowledgeable selections when buying and selling the securities of Serba Dinamik.

Source link