Malaysia bourse wants independent review of oil firm’s deals after auditor’s red flags


Dateline 2021-06-23, Reuters:

Malaysian oil and gas service provider Serba Dinamik Holdings Bhd (SERB.KL) must appoint an independent reviewer to address issues raised by the company’s external auditor, the national stock exchange said on Wednesday.

In May, Serba said auditor KPMG had not been able to verify contracts and transactions worth 3.5 billion ringgit ($840.74 million) with 11 customers.

Serba rejected the concerns and has said it saw no issues with the existence or legitimacy of the contracts.

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