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Creditor engagement overview

On 26 April 2022, HSBC Amanah Malaysia Berhad, AmBank Islamic Berhad, Bank Islam Malaysia Berhad, MIDF Amanah Investment Bank Berhad, Standard Chartered Saadiq Berhad and United Overseas Bank (Malaysia) Bhd (collectively, the “Syndicated Financiers”) filed winding up petitions against Serba Dinamik Holdings Berhad and three (3) of its wholly-owned subsidiaries, Serba Dinamik Group Berhad, Serba Dinamik Sdn Bhd and Serba Dinamik International Ltd (collectively, the “Companies”) at the High Court of Malaya at Kuala Lumpur (“the High Court”) (collectively, the “Winding-up Petitions”).

On 23 August 2022, the High Court appointed Victor Saw Seng Kee of PricewaterhouseCoopers Advisory Services Sdn Bhd (“Victor Saw”) as Interim Liquidator of the Companies, pursuant to Section 465(1)(e) and Section 466(1)(c) of the Companies Act, 2016.

On 10 January 2023, the High Court appointed Victor Saw as Liquidator of the Companies by Court Orders (“Winding Up Orders”), pursuant to Section 465(1)(e) of the Companies Act 2016 .

On 11 January 2023, the Companies appealed against the Winding Up Orders.

On 27 January 2023, the Companies filed an application to stay the execution of the Winding Up Orders pending the appeals against the Winding Up Orders.

On 10 February 2023, the High Court allowed an Ad-Interim Stay of the Winding Up Orders and Victor Saw was reappointed as the Interim Liquidator.

The stay application was subsequently dismissed on 16 March 2023. The Companies filed an appeal against the High Court Decisions on 10 January 2023 and the hearing is set on 25 June 2024 at the Court of Appeal.

For more information:

There are separate pages on this website containing specific information for employees and creditors, please click on the appropriate link based on your relationship with the Companies in Liquidation.
If you are an existing/past employee:
If you are a creditor:
If you are a contributory: