KUALA LUMPUR, May 16 — Serba Dinamik Holdings Bhd chief executive Datuk Abdul Karim Abdullah has today claimed the oil and gas company’s legal troubles with market regulators were caused by “hidden hands” that were keen to see its downfall., Abdul Karim was quoted as saying the alleged plot was to destroy Serba Dinamik as well as to remove him from the corporate scene.
“We do not have any ‘godfather’ or ‘strong political connections’ to shield us,” he said, while refusing to reveal the identity of the alleged perpetrators as investigations are still underway. of charges of submitting a false statement to Bursa Malaysia last year after the full settlement of the company’s RM16 million fine imposed by the Securities Commission were completed.said
“All allegations levelled against me and Serba Dinamik have the end goal to remove me from the corporate scene and portray an ultra-negative image of me. “I must point out that this was in fact successful, in that the AGC saw that the charges were very problematic, and that there was insufficient evidence to succeed with any prosecution.
“This was compounded by the SC’s subsequent hasty actions that included searching our premises and laying charges without investigations being completed. “We are here to stay as a major player in the market. The recent events are only a minor setback and will not deter us from surging forward with the many projects we have planned and are in the pipeline.He also dismissed a suggestion that agreeing and accepting the compound meant admission to some level of guilt.“We also realised that continuing the legal route would take years and the adverse news would prevent the company from obtaining financial support or bidding for contracts.
Why pay millions if you arent in the wrong ?
Pure BS. If you're innocent, why pay the RM16 million fine?
The style of management and remuneration policies of the company itself is more than self-destructive. No need for external plotters!
Nonsense .
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