Serba Dinamik

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Disappointing earnings from Serba Dinamik

Kenanga Research said YoY against 1QFY21 (i.e. 1QCY20), 5QFY21 saw earnings dropping by 15%.

Absence of dividends is also below expectations, as the company had previously paid dividends every quarter.

Following its recent audit issue, the group saw its credit ratings downgraded on the basis of reduced funding access.

“This may heighten refinancing risk for its US$-denominated RM900mil Sukuk due May 2022.

Source: The Star

https://www.thestar.com.my/business/bus ... ba-dinamik

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Serba Dinamik activates its first teleport and network operating centre with strategic partner

Serba Dinamik Group Bhd (SDGB) has activated its first teleport and Network Operating Centre (NOC) with its strategic partner, Network Innovations, a global integrated technology provider.

SDGB said its primary role in this New Space Economy Nexus (NSEN) is to invest in the assets and infrastructure to solve earth bound issues from space.

Source: Bernama

https://www.theedgemarkets.com/article/ ... ic-partner

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Subsidiaries of Serba Dinamik have secured eight contracts with a combined estimated value of US$67.7mil (RM286.3mil) and a further seven operation and maintenance (O&M) contracts with no specific value.

Source: The Star

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S&P downgrades Serba Dinamik’s rating further to 'CCC' from 'B-' on growing refinancing risks

by Esther Lee

Sizable debt maturities of some RM1.7 billion within the next nine months

The last reported cash balance as at March 31, 2021 of the company amounted to RM1 billion.

S&P estimates that Serba Dinamik will generate RM300 million to RM400 million in negative free operating cash flow over the 12 months ending June 30, 2022.

Serba Dinamik may need to spend RM400 million to RM500 million in long-lead time capital expenditures,

Source: theedgemarkets.com

https://www.theedgemarkets.com/article/ ... cing-risks

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EY provides biweekly progress updates to independent directors, says Serba Dinamik

by Sulhi Khalid

The scope of works calls for EY to assess the validity and veracity of the transactions and balances on sales, trade receivables and materials on sites with respect to 11 identified customers, and to quantify any possible financial impact.

It will also look into purchases from six local suppliers; IT contracts and transactions involving six customers and two suppliers, as well as the revenues and costs involved; and the transactions and balances involving one customer and one supplier in Bahrain.

Source: theedgemarkets.com

https://www.theedgemarkets.com/article/ ... ba-dinamik

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Serba Dinamik in collaboration with Sabah govt to reduce rural digital divide

Serba Dinamik Group Bhd, a provider of internet access through local satellite technology, has installed the Proof of Concept (POC) for Very Small Aperture Terminal (VSAT) satellite internet access in Kampung Betutai, Tuaran, Sabah.

Source: Bernama

https://www.theedgemarkets.com/article/ ... tal-divide

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Quarterly Results

Revenue: RM 1.2b
Profit: RM 14m
EPS: 0.40
NAV: 1.05

https://www.bursamalaysia.com/market_in ... id=3196801

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Serba Dinamik Holdings Berhad - Uncertainty Persists
Date: 30/09/2021
Source : PUBLIC BANK
Price Target : 0.31

We adjust our valuation for the stock based on a discount of 70% to its June 2021 book value of RM1.05 (from 50% discount to 12-month book value of RM0.88).

https://klse.i3investor.com/servlets/ptres/60916.jsp

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Bursa Malaysia has set Tuesday (Oct 26) as the deadline for Serba Dinamik Holdings Bhd to announce the findings of the special independent review, which addresses the audit issues flagged by its former external auditor, KPMG.

The stock exchange noted that the findings from the factual findings update as at Sept 30, 2021 on the special independent review were communicated to three out of four independent non-executive directors on Thursday (Oct 21).

Bursa suspended the trading of Serba Dinamik shares and warrants on Friday afternoon. Bursa said the trading suspension will remain until Serba Dinamik makes an announcement in compliance with the directive.

Source: The Edge

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Serba Dinamik takes Bursa to court over suspension, audit review

by Lydia Nathan

Source: FMT

https://www.freemalaysiatoday.com/categ ... it-review/