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Wednesday, March 29, 2023

'Mosti's support letter does not imply govt's commitment to Serba Dinamik'

 


Malaysian Space Agency’s (Mysa) letter of support given to Serba Dinamik Group Bhd does not bind the government to any commitments towards the company, said Science, Technology and Innovation Minister Chang Lih Kang.

Instead, he said, the letter was meant as a form of encouragement towards the company’s plans to look into space-related technologies.

“In 2021, the Science, Technology and Innovation Ministry (Mosti) through Mysa gave a letter of support for the plans of Serba Dinamik, which wanted to explore the potential of satellite launching technology and space technology-related services in Malaysia through the Private Funding Initiative (PFI).

“For the record, at this time, the plans by Serba Dinamik have not been implemented and Mosti’s support letter is only meant as encouragement for their efforts and does not tie the government to give any commitment to the company in question,” Chang (above) said in a written parliamentary response yesterday.

He was replying to Puchong MP Yeo Bee Yin who asked why Mysa gave a letter of support to Serba Dinamik in 2021 and what was the latest status of the cooperation.

Chang said the government is always encouraging the involvement of local industries in the development of the aerospace sector.

This includes being open to strategic partnerships between the government and industries through public-private partnerships, he said.

“Mosti, through Mysa, always provides support and encouragement to local companies that are actively engaged, particularly through PFI, to enhance the growth of the aerospace industry that has the potential to contribute to the country’s economic growth,” Chang said.

As of 2020, at least 63 local companies are involved in aerospace technologies in Malaysia.

It was first reported in March 2021 that Serba Dinamik and Mysa would collaborate to strengthen the development of the space economy and industry in Malaysia. Serba Dinamik received a letter of support from Mysa in that collaboration ceremony.

Khairy Jamaluddin was the science, technology and innovation minister at that time.

Since last year, Serba Dinamik has been beleaguered with financial troubles and court cases, including a criminal one which has been dropped by Attorney-General Idrus Harun.

On Jan 10, 2023, the Kuala Lumpur High Court greenlit a petition by six financial institutions to wind up Serba Dinamik Holding Bhd and three other related firms, including Serba Dinamik Group Bhd, over their RM5 billion debts.

However, about a month later, Serba Dinamik Holdings Bhd and the three other companies obtained a temporary stay of the winding-up order. - Mkini

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