SERBA Dinamik Holdings Bhd has reached out to The Edge Communications Sdn Bhd with a “notice of demand, cease and desist” for two articles published by the latter which it deemed to be defamatory.
The articles are “Serba Dinamik in the Spotlight” which was uploaded on www.theedgemarkets.com on March 26 and “What Serba Dinamik Didn’t Want You To Know” which appeared on the March 28-April 3 issue of The Edge Malaysia Weekly.
In a media statement, Serba Dinamik said the letter of demand served by Simrenjeet, Tay & Co who act as lawyers for Serba Dinamik was delivered by hand to The Edge Communications today (April 1).
Among others, the notice of demand stated that The Edge Communications has failed to check with the representatives of the global integrated oil & gas (O&G) outfit to confirm facts and to obtain their comments on the matters stated in the said articles.
It also claimed that both articles contain the following impugned headings, caption, words and/or statements:
- “Serba Dinamik brushed aside KPMG’s grouses, the appointment of EY Consulting saw the O&G company change tack and focus on preventing EY Consulting’s FFU from being made public”;
- Flicking through the EY Consulting report, which is part of Bursa Malaysia’s bundle of documents in its suit against Serba Dinamik, it becomes apparent why the O&G company is reluctant to let the findings of the EY Consulting report be made public;
- In summary, EY Consulting stopped short of suggesting that Serba Dinamik had been raising cash – both via borrowings and cash calls – only to take or transfer funds to suppliers and vendors which were under Serba Dinamik’s control;
- “the beleaguered oil and gas company has been fighting to prevent a factual finding update by Ernst & Young from being made public”;
- “Serba Dinamik had sought to dispel all of KPMG’s allegations as trivial”
- “Serba Dinamik has been trying hard to prevent the EY Consulting report from being made public”;
- “the EY Consulting report stops short of stating that Serba Dinamik was utilising the company stamps and falsifying documents, boosting contracts to raise funds from financial institutions and paying off suppliers (under its control) that issued invoices, purchase orders and delivery orders”;
- “the plight of Serba Dinamik’s minorities”; and
- “thus far, all of Serba Dinamik’s attempts to scuttle the court processes have been futile”;
The notice of demand further raised concern as to how the publisher “had not only obtained but quoted parts of the affidavit and findings in the FFU (factual findings update)” when “the FFU are sealed and remains locked out from the e-filing system for view/download by all parties except for (the) court”.
Accordingly, the notice of demand insisted that The Edge Communications immediately retract both articles, publish a statement that the articles have been retracted, and cease and desist from making defamatory statements concerning Serba Dinamik.
The action to retract both articles must be undertaken within seven days from the receipt of Serba Dinamik’s notice of demand.
“In the event we do not hear from your good selves before close of business on April 5, 2022 (Tuesday), we shall assume that you will be disputing our client’s contentions and therefore we will proceed with the filing of court proceedings as instructed by our client,” added Simrenjeet, Tay & Co.
Serba Dinamik was last transacted at 35 sen at the close of the mid-day trading on Oct 22 last year prior to the trading suspension of its shares/warrants, hence giving the company a market capitalisation of RM1.3 bil. – April 1, 2022
