27 June 2021

We refer to the blog headline above which was published on the KLSE Investor website:
https://klse.i3investor.com/blogs/expertanalyst/2021-06-26-story-h1567055294-Serba_Dinamik_A_Ponzi_Scheme.jsp on 26 June 2021.

Serba Dinamik Holdings Berhad (‘Serba Dinamik’) and its group of companies (‘the Group’) wishes to
deny any element of manipulating investors and Ponzi Scheme. On 21 June 2021, Serba Dinamik has
released a detailed announcement [Clarification on Article titled ‘Cover Story: Serba Dinamik in the Eye
of the Storm’] that clarified the ownership model of Block 7 Investments LLC (‘Block 7) and denied any
related party transaction when Block 7 contract was awarded to RM 7.7 billion.

In the announcement as well, Serba Dinamik has clarified that it has yet to record any revenue for the
EPC contract and have incurred some preliminaries consultants’ fees. Currently, the said project is in the
stage of concept master planning design and securing approval from the respective relevant Abu Dhabi
authorities. As explained, the project with Block 7 is legitimate and stands to provide stable future
earnings for the Group business in Engineering, Procurement and Construction (EPC) segment.

On top of that, Serba Dinamik is a global technical and commercial service provider that is involved in
multitude of sectors such as EPC, industrial Operation & Maintenance (O&M), Information Technology
(IT), Education and…

Read more…