Serba Dinamik Annual Report 2021

Registration No: 201501042584 (1167905-P) Serba Dinamik Holdings Berhad (Incorporated in Malaysia) 137 39. Significant events (a) Coronavirus outbreak On 11 March 2020, the World Health Organisation declared the Coronavirus (“Covid-19”) outbreak as a pandemic in recognition of its rapid spread across the globe. On 16 March 2020, the Malaysian Government has imposed Movement Control Order (“MCO”) starting from 18 March 2020 to curb the spread of the Covid-19 outbreak in Malaysia. The Covid- 19 outbreak also resulted in travel restrictions, lockdown and other precautionary measures imposed in various countries. The emergence of the Covid-19 outbreak has brought significant economic uncertainties in Malaysia and markets in which the Group operates. In developing the disclosures, the Group has performed an assessment of the overall impact of the situation on the Group’s operations, including the recoverability of the carrying amounts of assets and liabilities and concluded that there is no material adverse effects on the financial statements for the financial period ended 30 June 2021. As at the date of these financial statements which have been authorised for issuance, the Covid-19 situation is still evolving and uncertain. It is not practicable for the Group to estimate the financial impact of these events. It is however certain that the worldwide measures against the spread of the coronavirus will have direct and indirect effects on its operations. The Group will continuously monitor the impact to minimise the impact of the outbreak on the Group’s operations. (b) Sukuk (Islamic) On 28 October 2020, the Group via SD International Sukuk Limited and SD International Sukuk II Limited has completed its undertaking on optional redemption on the Trust Certificates from the holder of USD300.0 million Trust Certificates due 2022 (“Series 1 Certificates”) and USD200.0 million Trust Certificates due 2025 (“Series 2 Certificates”) for cash on the terms and conditions contained in the tender offer memorandum dated 9 October 2020. The Group has redeemed USD77.8 million Series 1 Certificates and USD19.9 million from Series 2 Certificates. As such, the outstanding balance for the Trust Certificates are USD222.2 million for Series 1 Certificates and USD180.1 million for Series 2 Certificates. (c) Change in financial year end During the financial period, the Company changed its financial year end from 31 December 2020 to 30 June 2021. The Company is hereby presenting eighteen (18) months accounts from 1 January 2020 to 30 June 2021.