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.
According to APB, they received a letter from the liquidator of Serba Dinamik Group Bhd for the plan to sell the land and building.
The proposed acquisition will allow APB to utilize the property for their own purposes and generate profit through rentals.
The proposed transaction is expected to be completed before the end of November.
The ongoing financial crisis of the company continues to pressure the company to get back on its feet.
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.
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.
Serba Dinamik's income report has also recorded a net loss of RM1.3 billion for the financial period ending June 30, 2023.
