AG explains why criminal charges against Serba Dinamik, top execs no longer pursued
KUALA LUMPUR, May 13 — Criminal proceedings against troubled oil-and-gas company Serba Dinamik Holdings Berhad ought not to be pursued due to the economic consequences of doing so, the Attorney General’s Chambers said today.
“As at the date of this press release, SDHB is facing winding up petitions from creditors, which jeopardise the livelihood of SDHB’s employees and the interest of shareholders and other creditors. “By compounding the offences, the need for punitive action against SDHB is immediately achieved without going through a lengthy trial.
At that time, the SC had recommended that SDHB and the said four executives be prosecuted for the alleged contraventions. “Thereafter, the AGC discussed the said representation letter with investigating officers from the SC. The matter was also discussed by the Attorney General with the SC’s Chairman.
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