Serba Dinamik is on the rise after EY was named as an independent reviewer of audit issues.
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KUALA LUMPUR, Malaysia (June 29): Following news that Ernst & Young Consulting Sdn Bhd (EY) had accepted the company’s offer to be its independent reviewer with extra conditions attached, Serba Dinamik Holdings Bhd was trading higher and was the most active counter this morning.
Serba Dinamik’s stock began higher at 37 sen per share, up from the previous day’s finish of 32.5 sen.
The stock then dropped to a low of 34 sen before recovering to trade at 38 sen as of this writing. With a market capitalization of RM1.2 billion, the stock was trading 5.5 sen higher at 38 sen, or 16.92 percent higher.
Serba Dinamik shares were the most actively traded on the local stock exchange at the time of writing, with 375 million units exchanged.
KPower Bhd and Sarawak Consolidated Industries Bhd, both tied to Serba Dinamik group managing director and chief executive officer (CEO) Datuk Dr Mohd Abdul Karim Abdullah, were also in the green this morning (SCIB).
KPower Bhd shares were trading at 70.5 sen this morning, up eight sen or 12.8 percent, valuing the company at RM336.98 million. SCIB, on the other hand, was up 12.09 percent or 5.5 sen at 50 sen, valuing the company at RM223 million.
Mohd Abdul Karim has a 27.07 percent holding in Serba Dinamik, a 32.36 percent stake in KPower, and a 36.8% stake in SCIB.
There will be more to come.
Also see:
EY agrees to serve as an independent reviewer for Serba Dinamik on the condition that certain parameters are met.
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