Serba Dinamik Annual Report 2021

Registration No: 201501042584 (1167905-P) Serba Dinamik Holdings Berhad (Incorporated in Malaysia) 143 40. Subsequent events (continued) 40.1 Material litigation (continued) (c) The Company vs EY Consulting (continued) The OS is to seek the following reliefs: i) A declaration that EY Consulting is not an “auditor” within the meaning of the MMLR; ii) A declaration that EY Consulting had misrepresented to the Company that they could be appointed pursuant to paragraph 2.23 and 2.24 of the MMLR; iii) A declaration that the appointment of EY Consulting and the letter of engagement executed between EY Consulting and the Company dated 2 July 2021 was void ab initio; iv) An order that EY Consulting, whether by its servants, agents and/or representatives, be and are hereby restrained from releasing, revealing, divulging and/or disseminating any findings, report, memorandum, opinion about the Company and its group of companies, whether in whole or in part, to anyone, in any format, whether in print, electronically, or via any media or forum; v) Restitution; and/or vi) Damages to be assessed; vii) Costs; viii) Such other reliefs that deemed fit by this Honourable Court. The Company had on 6 December 2021 filed an application to join the Securities Commission Malaysia and Bursa as a party to the OS. All the relevant parties had attended the case management before the High Court on 8 December 2021. The High Court had fixed the next case management on 6 January 2022. Apart from the potential damages to be assessed and costs which may be awarded against EY Consulting and the corresponding legal costs, the OS is not expected to have any other material financial impact on the Company for the financial period ending 30 June 2022. The OS is not expected to have any business and operational impacts on the Company.