Wednesday, February 8, 2023
  • Lowyat.NET
  • Lipstiq
  • Murai MY
  • Wanista
  • Varnam
  • Moviedash
  • Autofreaks
No Result
View All Result
Hype Malaysia
  • Hype Picks
    • Go
    • Eats
    • Style
    • Streams
    • Concerts
  • Celebs
    • K-pop
  • Music
    • Reviews
    • Interviews & Features
  • Movies & TV
    • Movies
    • TV
    • Features
  • Lifestyle
    • Tech
    • Travels
    • News
  • Giveaways
  • Contests
Hype Malaysia
  • Hype Picks
    • Go
    • Eats
    • Style
    • Streams
    • Concerts
  • Celebs
    • K-pop
  • Music
    • Reviews
    • Interviews & Features
  • Movies & TV
    • Movies
    • TV
    • Features
  • Lifestyle
    • Tech
    • Travels
    • News
  • Giveaways
  • Contests
No Result
View All Result
Hype Malaysia
No Result
View All Result
Home News

Serba Dinamik’s Managing Director Abdul Karim Disposes Entire Warrant Holdings In A Single Week

by Rachel Chuah
October 22, 2021
62
SHARES
Share on FacebookShare on Whatsapp

Things aren’t looking good for Serba Dinamik Holdings Bhd. The group’s managing director and chief executive officer Datuk Mohd Abdul Karim Abdullah has disposed of his entire holdings of 55.9 million of group’s warrants this week. Not a moment too soon, as the price of warrants have been hovering at near record low levels.

It’s clear that the chief is pulling out and many retail investors are at a loss. Some suspect trickery from Abdul Karim to force panic buying. Others however are of the opinion that the group will not recover.

Source: The Edge Markets

Yesterday (21st October), Serba Dinamik reported in a bourse filing that Abdul Karim had sold the group’s warrants in 4 batches this week. He cashed out an approximate total of RM4.35 million. On Monday (18th October), he sold 21.85 million warrants at a price of 8.13 sen each. He cashed out approximately RM17.5 million. On Wednesday (20th October), 21.2 million warrants were sold at 7.5 sen then later, another 12.9 million at 7.7 sen. Yesterday, a further 123,600 warrants were disposed for 7.5 sen each. In total, Abdul Karim sold about 6.34% of the group’s total warrants.

As of 4th October, Abdul Karim held 786.38 million shares (21.2% stake) in Serba Dinamik. However, his recent actions have caused a stir among retail investors. Some are hoping for a turnaround, cautioning patience and attentiveness. Others however claim it’s over for the company. “The boss ran away, it’s miserable,” one comment said.

ADVERTISEMENT

During the week, Serba Dinamik’s warrants prices fluctuated between 7.5 sen – 8 sen. On Thursday however, it closed at 7.5 sen. It’s price took a hit at the end of May after the group’s then external auditor KPMG flagged some accounting issues. The firm later resigned as their external auditor on 24th June after a suit by Serba Dinamik. A new external auditor, Nexia SSY PLT was appointed by the group in August.

Source: The Edge Markets

The group currently has a market capitalisation of RM1.38 billion. It’s share price closed one sen or 2.6% lower at 37 sen yesterday. It’s a far cry from it’s stable stock price in May which remained between RM1.60 and RM1.80. It even reached RM2 at one time.

Sources: China Press, The Edge Markets, i3 investor.com

What’s your Reaction?
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0

Follow us on Instagram, Facebook or Telegram for more updates and breaking news. 

Filed Under Datuk Mohd Abdul Karim AbdullahSerba Dinamik Holdings BhdSerba Dinamik Share Price
Share25SendTweet16Share

DON'T MISS THESE STORIES

Man In Ipoh Exposed For Allegedly ‘Adopting’ Kittens To Feed His Pet Snake
News

Man In Ipoh Exposed For Allegedly ‘Adopting’ Kittens To Feed His Pet Snake

February 8, 2023
(Video) Local TikToker Called Out For Being Obnoxiously Loud At Starbucks Outlet
News

(Video) Local TikToker Called Out For Being Obnoxiously Loud At Starbucks Outlet

February 7, 2023
How Ezra Miller’s “The Flash” Changes DC Universe Reboot, Future Films & TV Shows
Movie Feature

How Ezra Miller’s “The Flash” Changes DC Universe Reboot, Future Films & TV Shows

February 5, 2023
News

SM Faisal Shows Off Apple Gifts After Ex-Wife Accused Him Of Neglecting Child Support

February 3, 2023

ADVERTISEMENT

TOP STORIES TODAY

  1. 1

    Chryseis Tan & SM Faliq Nasimuddin Unveil Baby’s Face For The First Time

  2. 2

    HK Actress Vicky Chan Mistaken For Being A Malaysian While Vacaying In Penang

  3. 3

    Is TikToker Pangle The Woman In The Viral 9-Minute Porno Video?

  4. 4

    (Video) OnlyFans Creators Seduce Namewee By Posing In Their Favourite Positions

  5. 5

    Chinese Actress Kelly Yu Has A Habit Of Sitting With Her Legs Open On TV

Malaysia’s live-wire for the latest news, trends, and entertainment is finally here. We are your calendar, your grapevine, your comic relief, your post-event coverage, and your celebrity stalker. Did we also mention that we are also your gateway to the world?



Contact us: newsdesk@hype.my



  • About
  • Advertise
  • Jobs
  • Terms
  • Privacy Policy

©2023 Vijandren Ramadass. All Rights Reserved.

No Result
View All Result
  • Hype Picks
    • Go
    • Eats
    • Style
    • Streams
    • Concerts
  • Celebs
    • K-pop
  • Music
    • Reviews
    • Interviews & Features
  • Movies & TV
    • Movies
    • TV
    • Features
  • Lifestyle
    • Tech
    • Travels
    • News
  • Giveaways
  • Contests

©2023 Vijandren Ramadass. All Rights Reserved.