KUALA LUMPUR — Serba Dinamik Holdings Bhd (SDB) said it has nominated Nexia SSY PLT (Nexia) as its new statutory auditors.
“This is in accordance with the Companies Act 2016 for the financial year ended June 30, 2021, subject to, amongst others, professional clearance from KPMG PLT in accordance with the Section 320 by-law of the Malaysian Institute of Accountants,” it said in a stock exchange ling with Bursa Malaysia today.
The company said further announcements will be made upon completion of the “aforesaid procedure.”
On June 24, the oil and gas services provider announced that KPMG had submitted its resignation notice as the company’s auditor, effective immediately, following the suit led against the auditing firm by SDB.
An auditing dispute arose between SDB and KPMG after the former external auditor highlighted discrepancies involving transactions amounting to RM4.54 billion.
The issues raised were based on the financial accounts for the company’s financial year ended Dec 31, 2020.