Serba Dinamik's share price drops by nearly 60 per cent

KUALA LUMPUR - Serba Dinamik Holdings Bhd’s share price on Bursa Malaysia contracted by nearly 60 per cent in the early trading session following the resumption of the trading of its shares today.

Trading of the company’s shares had been suspended since Oct 22, 2021 due to its failure to comply with Bursa Malaysia's directive.

At 11am, the company’s shares fell by 21 cent to 14 cent from its last closing price of 35 cent, with 3.88 million shares traded.

Kenanga Research in a note today said investors' attention on the corporate front will likely be on Serba Dinamik as trading of its shares resumed after a long suspension period.

Last week, Serba Dinamik said it is looking into formulating a plan to regularise its financial condition, adding that it is required to submit the plan within eight months to the relevant authorities for approval.

The company said it will make the necessary announcement on the Regularisation Plan in accordance with the requirements under Practice Note 17 (PN17). - BERNAMA