Showing posts with label Corporate Governance. Show all posts
Showing posts with label Corporate Governance. Show all posts

Tuesday, October 27, 2026

Interpol Red Notice Issued for Serba Dinamik Founder Karim as Anwar Defends Enforcement Record

Interpol has issued a Red Notice against Datuk Mohd Abdul Karim Abdullah, the founder, group managing director and chief executive of Serba Dinamik Holdings Bhd, Prime Minister Datuk Seri Anwar Ibrahim told the Dewan Rakyat on Tuesday, October 20, 2026. Speaking during Prime Minister’s Question Time, Anwar said the Securities Commission Malaysia (SC) had recently obtained an arrest warrant for Karim and that the Red Notice would help locate and arrest him. A Red Notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, and it is not itself an international arrest warrant.

Karim was charged by the SC in 2021 with an offence involving false information in Serba Dinamik’s financial statements. Anwar said the case was later resolved through a RM3 million compound after the public prosecutor accepted his representation, and that the SC withdrew all charges against Serba Dinamik itself in May 2022. The SC resumed investigating transactions involving the company from 2023, after further disclosures, and also looked at related cases including Sarawak Consolidated Industries Bhd, which involves Karim.

Anwar used the episode to argue that enforcement has increased, saying SC action, both criminal and civil, has risen. He also challenged former minister Rafizi Ramli over why he stayed silent on corporate crime while in the cabinet, an exchange that fed a wider political debate over so-called corporate mafia claims. Meanwhile, civil proceedings continue: Serba Dinamik’s liquidator has sued KPMG over alleged audit negligence, and an Amanah Raya unit has sued the company and 12 others over a RM100 million investment loss.

Legal experts note that Red Notices depend on cooperation from member states and that fugitives often remain at large for long periods. Public interest in the case remains high because Serba Dinamik’s collapse hurt investors and lenders.

What to watch: Karim’s whereabouts and any arrest, additional SC charges, the outcome of civil suits against auditors and directors, and political fallout in Parliament. Allegations remain unproven in court unless stated otherwise.

Sources: NST, The Star, The Edge, The Vibes (October 20–21, 2026). Compiled October 27, 2026.

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