KUALA LUMPUR, Oct 22 ― Bursa Malaysia Securities Bhd has issued a directive to Serba Dinamik Holdings Bhd in relation to a status update on the company’s special independent review (SIR).

In a statement, the stock exchange said the directive issued today is for Serba Dinamik to make an announcement on the findings from the Factual Findings Update by October 26, 2021, and announce Bursa Securities’ directive immediately.

"Bursa Securities notes that the findings from the Factual Findings Update as at September 30, 2021 on the SIR have been communicated to three out of four independent non-executive directors on October 21, 2021.

"In this regard, Bursa Securities notes that to date, Serba Dinamik has not announced the findings from the Factual Findings Update in accordance to Paragraph 9.03 of the Main Market Listing Requirements (MMLR),” it said.

Bursa Securities said the directive also imposes a suspension of trading on Serba Dinamik’s securities on the next market day after the directive deadline, in the event of non-compliance to the directive.

It said the suspension will remain until an announcement in compliance with the directive and Paragraph 9.35A of the MMLR is made by Serba Dinamik on the findings from the Factual Findings Update.

"The directive is issued to ensure material information is disclosed in a timely manner and to provide clarity to the market,” the stock exchange said. ― Bernama