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

July 25, 2021

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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UMW Oil & Gas Corp gets Bursa’s nod to list

September 19, 2013

From the Star, dateline 2013-07-30:

UMW Oil & Gas Corporation Bhd has received Bursa Malaysia Securities‘ approval to list on the Main Market.

Its joint-principal advisers Maybank Investment Bank Bhd and CIMB Investment Bank Bhd said in a joint statement on TuesdayBursa Securities had, vide its letter dated July 29, approved the listing.

The listing exercise involved the 2.162 billion shares of UMW-O&G at 50 sen each.

Reports speculated the offer price to RM3 per share, raising up to RM3bil for the conglomerate.

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