Serba Dinamik: Four independent directors resign over disagreement on KPMG issue

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Serba Dinamik Holdings Bhd has seen four of its independent non-executive directors resigned today on difference of opinion on the company’s decision against its former external auditor, KPMG PLT.

In a filing with Bursa Malaysia today, Serba Dinamik said the four who resigned today are Hasman Yusri Yusoff, Datuk Seri Tengku Hasmuddin Tengku Othman, Sharifah Irina Syed Ahmad Radzi and Rozilawati Basir.

The company’s decision to commence legal action against KPMG PLT was also among the reasons that prompted the resignation of the directors, it said.

Serba Dinamik announced on June 22 that it had filed a civil claim for substantial damages against KPMG, on the grounds of alleged professional negligence, breach of contract and breach of statutory duty.

Meanwhile, on June 24, the oil and gas services provider said KPMG had submitted its resignation notice as the company’s auditor, effective immediately, following the suit filed against them by the oil and gas engineering services and solutions provider.

An auditing dispute has been raised between Serba Dinamik and KPMG after the former external auditor highlighted discrepancies involving transactions amounting to RM4.54 billion to the company’s independent directors in May this year.

The issues raised were based on the financial accounts for the financial year ended December 31, 2020.