KUCHING: Civil engineering specialist Sarawak Consolidated Industries Bhd (SCIB), which ushered in a new management on Wednesday, today reaffirmed that Serba Dinamik Bhd's group managing director and CEO Datuk' Dr. Ir. Ts. Mohd Abdul Karim Abdullah is not listed as a shareholder in its record of depositors (ROD) as of 21 June 2023.
New Straits Times reported exclusively on Thursday that outgoing managing director and chief executive officer Rosland Othman had said that Karim is no longer listed as a shareholder in the company despite there being no announcements made to the effect.
"When we printed out the name of the shareholders, his name was not there. People speculate. I told them you can speculate all you want but for me, I only look at data, and the data says that he's not there. But you know nowadays people use proxy but I don't know, I can't confirm for sure. There's an area that's a bit gray," he told the NST. Hours after revealing the fact, Rosland resigned as MD and CEO of the company.
The company under new management, reiterated Rosland's statement noting a discrepancy between its ROD and the register of substantial shareholders that it keeps in relation to Karim's shareholding.
"The last notices received by the company by Karim on the change of his shareholdings was dated 1 November 2021," said SCIB in a statement today.
Furthermore, SCIB's company secretary has written a letter to Karim to inform him of this discrepancy and request confirmation and information regarding his share status, but has not received any recent information from him.
Under the Companies Act 2016, the shareholder has the duty to inform the company and/or the registrar in the event of any change or cessation of shareholding as a substantial shareholder and/or any dealing in shares.
There is no obligation for SCIB to make any disclosure on behalf of third parties arising from the information in the ROD and/or rectify the discrepancy.
Therefore, unless SCIB receives a notice from Karim, there is no requirement for the company to make any entry in its register of substantial shareholders.