Sc Lodges Police Report Against Serba Dinamik

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The Securities Commission Malaysia said it will stop any attempt to intimidate the commission or its officers and undermine its authority and credibility.PETALING JAYA: The Securities Commission Malaysia (SC) has lodged a police report against Serba Dinamik Holdings Bhd over allegations accusing it of acting in bad faith and not following procedures in discharging its duties.
The SC confirmed it lodged a report yesterday against an announcement issued by Serba Dinamik on April 21, which contained statements that were “baseless and malicious”.
“The SC denounces any attempt to intimidate the SC or its officers and undermine its authority and credibility,” it said in a statement.
It said the contents of Serba Dinamik’s announcement may have had the effect of misleading or confusing the public and/or painting the SC and its officers in a negative light.
Earlier this month, the SC imposed a maximum compound fine of RM3 million each against Serba Dinamik, its chief executive officer, executive director and two officers for submitting a false financial statement to Bursa Malaysia.
However, last Thursday, Serba Dinamik questioned the SC’s motive in pressing charges against it.
Following Serba Dinamik’s representation to the Attorney-General’s Chambers, the attorney-general had on April 7 this year agreed for all the charges to be compounded.
The oil and gas service provider claimed that the SC was obliged to prove that each and every director knew the statement was false.
The SC said that the bulk of Serba Dinamik’s allegations against it were arguments put forth in various High Court proceedings filed by the company, but have since been dismissed by the court.
“The SC wishes to state that investigations regarding this matter were conducted in accordance with its statutory powers and established processes and procedures, and categorically rejects the claims by Serba Dinamik as being without any merit.”
Dismissing Serba Dinamik’s allegations, the statutory body denied that it had failed to hand over documents relating to the case and clarified that the use of its investigative powers were executed properly and in good faith.
“At no time did our officers threaten any of the company’s staff.” - FMT

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