Serba Dinamik defaults on loans

KUALA LUMPUR: Serba Dinamik Holdings Bhd has defaulted on RM435.4 million in loan payments to three banks, namely Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank), MBSB Bank Bhd, Bank Kerjasama Rakyat Malaysia Bhd and Affin Bank Bhd. In a filing with Bursa Malaysia, the oil and gas services provider said it endeavours  to continue its business operations as usual. The company added that it is undertaking restructuring and right-sizing measures.