SERBA Dinamik Holdings Bhd has obtained the consent of the company’s former external auditor KPMG PLT for Nexia SSY PLT to fill up the capacity that KPMG has vacated on June 24.
In a Bursa Malaysia filing, the global integrated oil & gas (O&G) outfit said Nexia SSY has received professional clearance from KPMG in accordance to Section 320 By-Law of the Malaysia Institute of Accountants (MIA).
“The (Serba Dinamik) board also wishes to announce that Nexia SSY, having consented to act via their written consent to act as auditors of the company dated Aug 3, is appointed as the statutory auditors of the company,” Serba Dinamik pointed out.
On July 26, Serba Dinamik Holdings Bhd announced that it had nominated Nexia SSY to fill up the vacancy for its new statutory auditors in accordance with the Companies Act 2016 for its financial year ended June 30, 2021 but subject to professional clearance from KPMG in accordance to the MIA by-law.
Nexia SSY PLT is an independent member firm of Nexia International, a leading London-based global network of independent accounting and consulting firms.
With operations in more than 128 countries, Nexia is currently ranked the eighth largest accounting firm in the world by the International Accounting Bulletin Survey 2021.
Commenting on the latest development, Serba Dinamik’s chairman Datuk Ilyas Mohamed said the professional clearance is testament that the company’s board – including its audit & risk committee – that is also committed in ensuring that Nexia SSY’s nomination was based on the objectivity and independence as well as sound performance of the external auditor.
“Rest assured that we are not taking an easy way out by appointing an ‘unknown’ auditor as claimed by certain quarters,” he told FocusM. “
“Although Nexia SSY may not be as well-known as the Big-Four firms, they are nevertheless registered with the Audit Oversight Board (AOB) which aims to foster high quality independent auditing to promote confidence in the quality of audited financial statements of public-interest entities.”
Moreover, Nexia SSY’s appointment is based on the criteria set by the board which is in line with legislative promulgations such as Companies Act 2016, Capital Markets and Services Act 2007 (Amendment 2012) and Listing Requirements while also taking into account the Malaysian Code on Corporate Governance (MCCG), and the By-Laws (on professional ethics, conduct and practice) by the MIA.
At the close of today’s trading, Serba Dinamik was up 0.5 sen or 1.23% to 41 sen with 76.16 million shares traded, thus valuing the company at RM1.53 bil. – Aug 4, 2021
