Serba Dinamik unable to issue annual report by Nov 30 deadline

KUALA LUMPUR: Serba Dinamik Holdings Bhd (SDHB) said it will not be able to issue its Annual Report 2021 for the financial period ended June 30, 2021 by the due date on Nov 30 2021 as granted by Bursa Malaysia Securities Bhd for the first extension of time (EOT).

It said this was 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 and the audit of the financial statements for the financial period (AFS 2021) was affected and could not be finalised in time for inclusion in the Annual Report.

In a filing to Bursa Malaysia, SDHB said 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.

“In view of that, we had on Nov 23, 2021 sought additional EOT up to Dec 31, 2021 to issue the Annual Report 2021. However, Bursa Securities has vide its letter dated Nov 24, 2021 rejected the application for the additional EOT.

“The company will be submitting an appeal to Bursa Securities in relation to the additional EOT sought in due course and this announcement is subject to the approval of the appeal,” it added.

SDHB also noted that trading in its securities has been suspended since Oct 22, 2021 and it is now working 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.