PETALING JAYA: Serba Dinamik Holdings Bhd chief executive officer and managing director Abdul Karim Abdullah has been placed on an Interpol Red Notice, Prime Minister Datuk Seri Anwar Ibrahim told the Dewan Rakyat today.
Anwar said the Securities Commission Malaysia (SC) resumed its investigation into Serba Dinamik’s transactions in 2023, following the withdrawal of charges against the company in 2022.
The investigation was subsequently expanded to related cases involving Sarawak Consolidated Industries Bhd (SCIB), in which Karim was also implicated.
“This demonstrates an increase in the SC’s enforcement actions, both criminal and civil,” Anwar said.
The SC had alleged that SCIB submitted a false statement to Bursa Malaysia Bhd in September 2021.
SCIB’s former group managing director and CEO, Rosland Othman, was charged on March 12 with allegedly causing the company to submit the false statement. He pleaded not guilty.
Karim is wanted in connection with the same alleged offence under Section 369(b)(B) of the Capital Markets and Services Act (CMSA). The SC obtained an arrest warrant against him on March 12.
In May 2022, Serba Dinamik, Karim and three other senior executives were acquitted of charges related to submitting a false statement to Bursa Malaysia in 2021 after settling compounds totalling RM16 million.
The company and its four executives had claimed trial on Dec 28, 2021, under Section 369(a)(B) of the CMSA.
The charges concerned revenue of RM6.014 billion reported in Serba Dinamik’s consolidated quarterly and annual results for the financial year ended Dec 31, 2020.
The SC launched its investigation into the troubled oil and gas company in May 2021 after receiving a report from audit firm KPMG.
In September 2023, Bursa Malaysia publicly reprimanded Karim and fined him for failing to provide proper notice of the disposal of his interest in Serba Dinamik.
The company was delisted from Bursa Malaysia’s official list in June 2024.
-FMT
