Multi-Dynamic Tower Will Be Sold At RM38 Million!

<p>&nbsp;The 16-storey Serba Dinamik tower building in Shah Alam is reported to be bought by APB Resources Bhd, an industrial process equipment company worth RM38 million, subject to court approval.</p><p><br /></p><p>According to APB, they received a letter from the liquidator of Serba Dinamik Group Bhd for the plan to sell the land and building.</p><p><br /></p><p>The proposed acquisition will allow APB to utilize the property for their own purposes and generate profit through rentals.</p><p><br /></p><p>The proposed transaction is expected to be completed before the end of November.</p><p><br /></p><p><br /></p><p>The ongoing financial crisis of the company continues to pressure the company to get back on its feet.</p><p><br /></p><p>At the end of last September, Bursa Malaysia Securities Bhd also publicly reprimanded and imposed a fine of RM15,000 on Serba Dinamik's Managing Director, Datuk Mohd Abdul Karim Abdullah for violating the rules regarding notices after the disposal of share interests.</p><p><br /></p><p>The Board of Directors promised to resolve issues including the company's restructuring plan after the group was also classified in the PN17 category by Bursa Securities.</p><p><br /></p><p>Serba Dinamik's income report has also recorded a net loss of RM1.3 billion for the financial period ending June 30, 2023.</p>