Amanah Raya unit sues Serba Dinamik, 12 others over RM100 mil investment loss
AmanahRaya Investment Management has filed a lawsuit against Serba Dinamik and 12 other parties to recover a RM100 million investment loss. The legal action follows the company's default on Islamic Commercial Papers issued in 2021.
Why it matters
This case highlights the risks associated with corporate debt defaults and the legal complexities of recovering institutional investments in liquidated entities.
BURSA SGX Home Highlight Make The Edge Malaysia your preferred source on Google KUALA LUMPUR (Aug 5): Amanah Raya Bhd’s asset management unit, AmanahRaya Investment Management Sdn Bhd (ARIM), has filed a lawsuit against Serba Dinamik Holdings Bhd, now under liquidation, and 12 other parties over its RM100 million investment in Islamic Commercial Papers (ICPs) issued in May 2021.
The suit, filed at the High Court on April 30, 2026, names Serba Dinamik, former auditor KPMG PLT, principal adviser RHB Investment Bank Bhd (RHBIB), rating agency Malaysian Rating Corporation Bhd (MARC), sukuk trustee Malaysian Trustees Bhd (MTB), and eight former and current directors, including CEO and managing director Datuk Mohd Abdul Karim Abdullah. The court allowed for substituted service on Abdul Karim, who remains at large.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in