General Announcement for PLC
25/11/2021OTHERS Serba Dinamik Holdings Berhad - Issuance of Annual Report for the Financial Period Ended 30 June 2021
SERBA DINAMIK HOLDINGS BERHAD |
Type | Announcement |
Subject | OTHERS |
Description | Serba Dinamik Holdings Berhad - Issuance of Annual Report for the Financial Period Ended 30 June 2021 |
We refer to our announcement made on 25 October 2021 pertaining to the extension of time to issue Serba Dinamik Holdings Berhad’s Annual Report.
A. Application for Additional Extension of Time (“EOT”)
The Board of Directors (“the Board”) of Serba Dinamik Holdings Berhad (“SDHB” or “the Company”) wishes to announce that in view of the change of external auditor and the impact of restrictions in movement in Malaysia and overseas arising from the COVID-19 pandemic, the audit of the financial statements for the financial period ended 30 June 2021 of SDHB Group ("AFS 2021”) was affected and the AFS 2021 could not be finalised in time for inclusion in the Annual Report for the financial period ended 30 June 2021 (“Annual Report 2021”) for issuance by 30 November 2021 (“Due Date”) as granted by Bursa Malaysia Securities Berhad (“Bursa Securities”) via its letter dated 25 October 2021 (the first EOT application).
In the light of the approved standards on accounting and auditing, the Company is of the opinion that the auditor should be given adequate time to perform their statutory obligations without interference and time constraints to ensure audit works can be conducted effectively and sufficiently.
As a result of the dilemma circumstances, the Company has decided to uphold the compliances with the approved auditing and accounting standards by allowing the auditor to perform their duties without interference and time constraints.
In view of the above, the Company had on 23 November 2021 sought additional EOT up to 31 December 2021 to issue its Annual Report 2021. However, Bursa Securities has vide its letter dated 24 November 2021 rejected the Company’s application for the additional EOT.
B. Outstanding Annual Report 2021
In view of the above rejection of the Company’s additional EOT Application by Bursa Securities and pursuant to Paragraphs 9.28(3) and 9.28(4) of the MMLR, the Company wishes to announce that it will not be able to issue its Annual Report 2021 by the Due Date as the AFS 2021 could not be finalised in time for inclusion in the Annual Report 2021 due to change of external auditor and the impact of restrictions in movement in Malaysia and overseas arising from the COVID-19 pandemic.
The Company will be submitting an appeal to Bursa Securities in relation to the additional EOT sought by the Company on 23 November 2021 in due course and this announcement is subject to the approval of the appeal.
The information on suspension of trading of SDHB’s securities in view of the delay in the issuance of Annual Report 2021 are as follows:-
a. Date of suspension: the Company's securities has been suspended since 22 October 2021.
b. The Company will work with its external auditor to expedite the finalisation of audit of the AFS 2021 and to issue the Annual Report 2021 as soon as possible before the end of December 2021.
c. The expected date of issuance of the outstanding Annual Report 2021 is 31 December 2021.
This announcement is dated 25 November 2021.
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Announcement Info
Company Name | SERBA DINAMIK HOLDINGS BERHAD |
Stock Name | SERBADK |
Date Announced | 25 Nov 2021 |
Category | General Announcement for PLC |
Reference Number | GA1-24112021-00097 |