We refer to the Company’s announcements dated 29 April 2022, 18 May 2022, 8 June 2022, 23 August 2022, 25 August 2022, 29 August 2022, 30 August 2022 and 19 September 2022 respectively. Unless otherwise stated, the definitions and terms used herein shall have the same meaning as defined in those announcements.

The Board of Directors of the Company wishes to announce that the relevant parties appeared before the Court on 10 January 2023. The High Court granted the following:

1. That Serba Dinamik Holdings Berhad [Company Registration No. 20151042584 (1167905-P)] be wound up by the Court under Section 465(1)(e) of the Companies Act 2016; together with its subsidiaries:
   • Serba Dinamik Group Berhad – Company Registration No. 200401024953 (663460-T)
   • Serba Dinamik Sdn Bhd – Company Registration No. 199301011986 (266724-K)
   • Serba Dinamik International Ltd. – Company Registration No. (LL-03436)
2. That, pursuant to Section 476(1) of the Companies Act 2016, Victor Saw Seng Kee, a Licensed Liquidator (License No. 10008/02/2023 P) of PWC be appointed Liquidator of Serba Dinamik Holdings Berhad;
3. That costs borne by the Petitioner be paid out of the asset of Serba Dinamik Holdings Berhad; and
4. That Victor Saw Seng Kee of PricewaterhouseCoopers Advisory Services Sdn Bhd (“PwCAS”) continues to remain as the Interim Liquidator of the Company and be empowered to exercise the power granted by virtue of the Order dated 23.8.2022 pending perfection and lodgment of the Order herein. 

 (“Winding Up Order”)

The board of directors of the Company wishes to inform that upon announcement of the Winding Up Order, the board of directors of the Company becomes functus officio and cease to have power in relation to the affairs of the Company save and except that the board retains residuary powers to appeal against and/or apply to set aside the Winding Up Order. Any further queries in relation to the affairs of the Company are to be directed at the Liquidator of the Company.

The board of directors of the Company wishes to further inform that the board is in the midst of seeking legal advice to appeal and/or set aside the Winding Up Order.

This announcement is dated 10 January 2023.