With new INEDs appointed, Serba to focus on external auditor search next

SERBA Dinamik Holdings Bhd has completed its search for ‘replacement’ independent non-executive directors (INEDs) a day earlier than expected.

While FocusM got the number (two individuals) and gender (one man and one woman) right, it nevertheless erred in predicting the date of announcement which was earlier than the expected “Thursday” (tomorrow or July 8).

Well, as the saying goes, it’s always better to be early than late. The duo are Datuk Seri Mohamed Farid Abu Hassan, 62, and Siti Zaleha Sulaiman, 57.

Datuk Seri Mohamed Farid Abu Hassan

Mohamed Farid who holds a Masters in Social Science (Strategic and Security Analysis) from Universiti Kebangsaan Malaysia last served as a Special Branch director with the rank of Commissioner of Police prior to his retirement in June this year.

Having served a period of 42 years in various capacities within the Police Force, Mohamed Farid had also attended relevant security and intelligence courses in the US, UK and Australia.

Siti Zaleha who holds a MSc (Computer Science) from the University of Miami (in the US) is also a certified professional in enterprise risk management from the Institute of Enterprise Risk Practitioners Malaysia.

Siti Zaleha Sulaiman

She was former Bursa Malaysia’s head of corporate risk management (February 2013-April 2016) as well as INED with AIMFLEX Bhd (October 2020-present).

Both Mohamed Farid and Siti Zaleha will fill the void of independent directors on Serba Dianmik’s board after five of its INEDs resigned on June 24, including recently appointed Masleena Zaid.

The two remaining INEDs on the company’s board are Datuk Mohamed Ilyas Pakeer Mohamed (who is also the chairman) and Johan Mohamed Ishak.

Apart from Masleena, the other four old guards had cited differences in opinion that they had with the decisions made by the board which in their views were not to the best interest of the company, as reasons for their departure.

They were Tengku Datuk Seri Hasmuddin Tengku Othman, 59; Hasman Yusri Yusoff, 60; Rozilawati Basir, 50; and Sharifah Irina Syed Ahmad Radzi, 44.

With the latest development and after having cemented the appointment of its special independent reviewer in Ernst & Young Consulting Sdn Bhd (EY) last Friday (July 2), Serba Dinamik can now focus on the hiring of its new external auditor to replace KPMG PLT which resigned from the role on June 24 by end-July.

In a Bursa Malaysia filing yesterday, the company said it had submitted the request of proposal for provision of external audit to international audit firms on June 27.

Meanwhile, Serba Dinamik’s share price retraced to close 3 sen or 5.88% lower today to 48 sen after three consecutive trading sessions in the green (July 2, July 5 and July 6).

Its share volume also shrank to 311.29 million shares in tandem with bearish market sentiment which saw the FBM KLCI retreated 1.48 points (by almost 7 points at one juncture). – July 7, 2021

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