Petronas denies collaborating with Serba Dinamik to draw investments at Expo 2020 Dubai – The Edge Markets MY

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KUALA LUMPUR (Dec 29): Petroliam Nasional Bhd (Petronas) on Wednesday (Dec 29) denied that it was working with Serba Dinamik Holdings Bhd to attract investors at the Expo 2020 Dubai.
The national oil and gas company issued a statement refuting the purported collaboration after lawyer Tan Sri Muhammad Shafee Abdullah, representing Serba Dinamik’s chief executive officer Datuk Dr Mohd Abdul Karim Abdullah, told the court that his client would be attending a trade expo in Dubai next week.
According to a report, Muhammad Shafee said that both companies would be bringing in RM33.9 billion worth of investments, and Mohd Abdul Karim was slated to deliver a speech at the event.
“Petronas denies any form of collaboration with Serba Dinamik to jointly attract investors for any projects at the Expo 2020 Dubai, as implied in the statement, neither is there any other collaboration to jointly attract investors using other platforms,” said Petronas.
Mohd Abdul Karim was charged by the Securities Commission Malaysia (SC) at the Sessions Court on Wednesday with submitting a false statement to Bursa Malaysia, after the commission secured an arrest warrant for him when he failed to show up at court on Tuesday.
He is alleged to have submitted the false statement in relation to a revenue figure of RM6.014 billion, which was included in Serba Dinamik’s quarterly report on the consolidated results for the quarter and year ended Dec 31, 2020.
He was charged under Section 369(a)(B) of the Capital Markets and Services Act, where an individual or company is said to have committed an offence if found to have made a false or misleading statement to the SC, the stock exchange or an approved clearing house.
He faces a jail term of not more than 10 years and a fine not exceeding RM3 million if found guilty.
On Tuesday (Dec 28), the SC charged Serba Dinamik, along with its executive director Datuk Syed Nazim Syed Faisal, group chief financial officer Azhan Azmi, and vice-president of accounts and finance Muhammad Hafiz Othman.
Read also:
Serba Dinamik CEO charged for furnishing false statement to Bursa, finance VP accused of falsifying sales
SC charges Serba Dinamik VP for breach of CMSA Section 368
SC secures arrest warrant against Serba Dinamik CEO
SC charges Serba Dinamik and officers for submitting false statement to Bursa

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