Trading curbs on Serba Dinamik securities

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KUALA LUMPUR: At least one brokerage has imposed trading restrictions and imposed other curbs on Serba Dinamik Holdings Bhd shares as it resumed trading on May 9.

The oil and gas counter has been suspended since October 27, 2021. It was last traded at 35 sen.

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“In view of the uncertainty of Serba Dinamik’s financial well being pending the outcome of the impact of the accounting irregularities, we anticipate volatility of the share price once trading is resumed on its shares/ warrants.

“As such, the management has decided that with effect from May 9, we will be imposing a trading restriction on the purchase of Serba Dinamik’s shares/ warrants in all trading accounts (including margin and no trading is allowed for proprietary trading account), wherein 100% upfront cash payment/ cleared fund (if payment is by cheque) before entering any purchase contract,” the brokerage said in a note to clients.

In addition, it said Serba Dinamik’s shares/warrants shall also be classified as non-marginable counters at the same time.

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In line with the trading restriction, the brokerage said Serba Dinamik’s shares/ warrants would be suspended from purchase in the trading system.

“Should clients wish to purchase Serba Dinamik shares/ warrants, please ensure they have sufficient cash in trust account/ cleared fund before requesting credit management staff to uplift the buy suspension,” it said.

In a separate statement, Bursa Malaysia advised investors to exercise caution and to make informed decisions when trading the securities of Serba Dinamik.