Datin Jeyanthini Kannaperan informed Justice Nadzarin Wok Nordin that Serba Dinamik and its subsidiaries will be sending a further draft of terms of consideration later on Wednesday. I propose that the dates fixed for the handover of submission [to appoint an interim liquidator and for Serba Dinamik to cross-examine the winding up petition] remains," she proposed. Besides Jeyanthini who appeared for the six syndicated creditors — AmBank Islamic Bhd, UOB (M) Bhd, Standard Chartered Bank (M) Bhd, Bank Islam (M) Bhd, MIDF Amanah Investment Bank Bhd, HSBC Amanah (M) Bhd — the others present were Tan Kah Weng for HSBC Amanah, one of the bilateral lenders, and Karen Tan for Hong Leong Islamic. Counsel Mak Lin Kum appeared for Serba Dinamik Holdings as well as its three subsidiaries — Serba Dinamik International Ltd based in Labuan, Serba Dinamik Sdn Bhd and Serba Dinamik Group Bhd. The creditors are of the view that Serba Dinamik Holdings is unable to pay its debts as per Section 465(1)(e) and Section 466(c) of the Companies Act 2016, taking into account the company's current, contingent and prospective liabilities.

Source: The Edge Markets May 25, 2022 10:29 UTC