KUALA LUMPUR (June 29): Serba Dinamik Holdings Bhd was trading higher and the top most active counter this morning following news that Ernst & Young Consulting Sdn Bhd (EY) had accepted the company’s offer to be its independent reviewer with additional conditions attached.
Shares in Serba Dinamik opened higher at 37 sen apiece, compared with the previous day’s close at 32.5 sen.
The stock then fell to a low of 34 sen and recovered to trade at 38 sen at the time of writing today. At 38 sen, the stock was trading 5.5 sen or 16.92% higher, with a market capitalisation of RM1.2 billion.
From a volume perspective, Serba Dinamik shares were the most actively traded on the local bourse at the time of writing, with 375 million units done.
Also in the green this morning were counters linked to Serba Dinamik group managing director and chief executive officer (CEO) Datuk Dr Mohd Abdul Karim Abdullah — KPower Bhd and Sarawak Consolidated Industries Bhd (SCIB).
KPower Bhd shares were up eight sen or 12.8% this morning at 70.5 sen, valuing it at RM336.98 million. SCIB, meanwhile, was up by 12.09% or 5.5 sen higher at 50 sen, valuing it at RM223 million.
Mohd Abdul Karim controls a 27.07% stake in Serba Dinamik, as well as a 32.36% stake in KPower and 36.8% of SCIB.