KUCHING: Serba Dinamik’s founder and group chief executive officer Datuk Dr Mohd Abdul Karim Abdullah yesterday reiterated that the company has done nothing wrong after its external auditor KPMG PLT (KPMG) raised red flags on the company’s financial accounts.
“Serba Dinamik has very strong fundamentals and we hope that after the announcement (to take legal action against KPMG), it will be business as usual for our company,” he said.
Abdul Karim disclosed that the management had many prospects that it was working on as well as ongoing projects, both domestic and international.
“The position of the company at the moment has reached a quite successful level in which we are talking to quite a number of governments of the day of various countries.
“They are looking at our expertise, our track records, and also the capabilities that we have put forward to them,” he told a press conference in Kuala Lumpur yesterday.
Abdul Karim also thanked Datuk Mohamed Ilyas Pakeer Mohamed for taking up the chairmanship of Serba Dinamik Holdings Berhad (SDHB).
“We strongly believe that his experience, knowledge and extensive network that he has built will help the company face all these challenges in a very effective manner.
“We ensure that the investment and money that all these parties put into the company will be maintained, sustained and get the returns as promised,” he said.
On questions whether SDHB would be able to get fresh capital from banks for the Abu Dhabi innovation project amid the dispute between the company and KPMG, Karim said there were no huge issues on that.
“We have worked out quite a lot of alternative plans on how to resolve the financial aspect to support this project.
“I have also received tremendous good response and support from the investors in that particular region. Why? Because they believe in our vision, capabilities and track records,” he said.
“There is no need to worry that the project will not be getting the necessary financial support,” he added.
Meanwhile, in response to questions raised, Mohamed Ilyas said that the minute the company sued KPMG, the relationship with KPMG is no longer tenable.
“The board of directors is hoping that KPMG will take the cue that this relationship is no longer tenable,” he said.
Earlier, at the press conference, SDHB announced that it had decided to take legal action against KPMG on the grounds of professional negligence, breach of contract and breach of statutory duty, among others.