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19 comment(s). Last comment by Windy1974 at May 6, 2021 11:01 AM
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Sslee
5913 posts

Posted by Sslee > May 3, 2021 4:11 PM | Report Abuse

Serba Dinamik RMC FZE ^^ United Arab Emirates
^^ The subsidiary is exempted from statutory audit as permitted by the authority in the relevant country

So Serba Dinamik 100% owned UAE subsidiary account do not need statutory audit.


Windy1974
282 posts

Posted by Windy1974 > May 3, 2021 4:16 PM | Report Abuse

SSlee. Haha, i really don't understand statutory. However, right hand awards left hand? Would you buy my company because my left hand award my right hand company RM100B contract?


Windy1974
282 posts

Posted by Windy1974 > May 3, 2021 4:17 PM | Report Abuse

i can have as many zero at the back as i want. If at the end it's all just on paper


LossAversion
810 posts

Posted by LossAversion > May 3, 2021 4:21 PM | Report Abuse

SerbaDK is losing its glory???


MiaoMiao7
69 posts

Posted by MiaoMiao7 > May 4, 2021 12:05 AM | Report Abuse

“The RM7.7 billion worth of Abu Dhabi innovation hub project is currently at the engineering and design stage and construction work should commence in 2H21 [second half of 2021]. Piling work for the RM1.5 billion data centre project has started in April and construction work should accelerate in 2H21 as well.


https://www.theedgemarkets.com/article/serba-dinamiks-steady-trajectory-likely-continue-driven-strong-orderbook-replenishments-ict


Windy1974
282 posts

Posted by Windy1974 > May 4, 2021 9:39 AM | Report Abuse

MiaoMiao7. Exactly as i read in theedge. Are you a shareholder of Serba? If yes, you should ask Serba to clarify the 2 points highlighted?
1. Is the Dato really the owner of Block7? If yes, it was not disclosed in the news.
2. If Block 7 being dissolved, very soon you will receive a news on cancellation of RM7.7B project. You wanna find out later or now?


i3lurker
6527 posts

Posted by i3lurker > May 4, 2021 9:41 AM | Report Abuse

very very dodgy

no audit of accounts, very dodgy indeed


Jonathan Keung
2812 posts

Posted by Jonathan Keung > May 4, 2021 9:45 AM | Report Abuse

price is slipping from 1.95+ to current 1.65 level { -16% } don't expect this counter to move


Sslee
5913 posts

Posted by Sslee > May 4, 2021 12:53 PM | Report Abuse

Today earned some free Bintang beer with lobsters from trading bjcorp.


Souljaboiiii
19 posts

Posted by Souljaboiiii > May 4, 2021 3:46 PM | Report Abuse

Dear author, can you justify your statement on "stories heard from managers"?


Windy1974
282 posts

Posted by Windy1974 > May 4, 2021 3:59 PM | Report Abuse

Souljaboiiii. Sorry, i can't justify as i won't elaborate here. I am in O&G business and i am not here to make Serba my enemy. Simple thing is for Serba shareholder to query Serba management why it was not revealed Karim interest in Block 7? And if Block 7 info being "dissolved" true?
Just as i can't justify to you Dayang and Sapura are well managed company. It's all from personal experience. You can never judge management of company on audited account. i3 forum can be a more productive place if forumers from their industry can contribute their expertise instead of just chanting up or down


alagamtrades
1 post

Posted by alagamtrades > May 4, 2021 7:13 PM | Report Abuse

Open corporates say the company dissolved on or before 9 March 2021. Then they sign a contract (after dissolution) with Zones Corporation on or around 25 April 2021. Is it for real or is it a case of "anything also can"?


Windy1974
282 posts

Posted by Windy1974 > May 4, 2021 8:03 PM | Report Abuse

i have added some additional comments targeting SCIB in my blog. When you find regularity in irregularities, you need to work on me. I believe this is what audit 101 teaches which i failed in UNI haha


AnnYung
371 posts

Posted by AnnYung > May 5, 2021 8:27 AM | Report Abuse

when I read until the part that says serba is an O&G counter. I stopped reading. didnt even do his homework before posting a blog


Sslee
5913 posts

Posted by Sslee > May 5, 2021 9:07 AM | Report Abuse

Q7.With such a fast expansion, how will the Company’s cash flow and debt level be affected? How will the Company handle the negative free cash flow and when is the estimate turnover period for the free cash flow to become positive?

A7.En. Azhan replied that the order book of the Company had grown tremendously over the years, resulting in higher working capital and debt level. The Company will work on managing the balance sheet better by observing the internal policy on debt level, gearing level and net leverage. SDHB will continuously seek advice and feed backs from various parties and advisers to properly manage the Company’s finances. En. Azhan explained that there were two main (2) components affecting the free cash flow, particularly financing the growth of the Company and order book,as well as utilisation of CAPEX. He said that since the IPO, the Company had invested in developing its own centres, i.e. Bintulu Integrated Energy Hub (“BIEH”) and Pengerang Eco-Industrial Park(“PeIP”). Furthermore,the recent acquisition of Teluk Ramunia Yard would enhance the capabilities of the Company. En. Azhan updated that BIEH development had been completed and will commence operation by2021.He said those three (3) developments had contributed some impact on the negative cash flow but it would improve by2021


Sslee
5913 posts

Posted by Sslee > May 5, 2021 9:09 AM | Report Abuse

https://e-serbadk.com/shareholders-meeting/


Windy1974
282 posts

Posted by Windy1974 > May 5, 2021 3:05 PM | Report Abuse

SSlee. What's the funding gotta do with my 2 concerns on Serba?
My concern is whether the project or contracts are genuine or not and not funding.
When i read listed company annoucements, 1 very fast way for me to conclude whether i should further study the potential are contents of the announcements. In general, reputable companies would annouced contract awarded by which company right? Those that don't provide names or with names i can't find much information with google, then i immediately conclude it's fishy.
So, Ageson annouced billion dollar sand contract but the awarder can't find much info online. I say they are conman. Vivocon annouced huge sand contract too but it's a reputable china company. So, i am not sure whether it's a con job not. I did buy.
In fact, even though i am not an accountant, 1 way to find out is by cashflow and debtors. If show profit but all stuck inside debtors or low cash flow, it's a warning sign


MiaoMiao7
69 posts

Posted by MiaoMiao7 > May 5, 2021 9:09 PM | Report Abuse

I am not smart but if truly the company got hanky panky, why would Karim increase his holdings by 10%? If he sense the company got no future, dont you think the first thing he wont do is to buy more shares via open market and PP? Action speaks louder than words.

And also EPF increased their holding up to 17%? EPF sure did their homework and visited those sites, right? People have been saying this since the IPO on their projects in middle east, yet they still pay dividend, 30% of NP.

If Elon Musk never sold any of his tesla shares during those turbulence years or even cash out right after the IPO, what does it say? And what does it says when a founder like Tan Sri Lim kept on buying TG shares? Is shows they are confident in the company and knows it will make more money in the coming quarters or future, how the market price the shares is another story.


Windy1974
282 posts

Posted by Windy1974 > May 6, 2021 11:01 AM | Report Abuse

MiaoMiao7. I agree with your arguement. Typical dodgy company, the controlling shareholder won't increase their shareholding substantially. However, i had a check via Bursa Malaysia company annoucement and the only news i saw on Karim actually was him selling shares, not buying. Now, i presume your arguement on Karim buying is via simply wall street? I have seen reports in simply wall street. I believe simply wall street reports are done by AI. My understanding, could be wrong, any majority shareholders with more than 5% need to inform Bursa for any buying or selling of shares. I can see EPF, KWSP but not Karim. You can use link below to find any companies official annoucements
https://www.bursamalaysia.com/market_information/announcements/company_announcement?keyword=&cat=&sub_type=&company=5279&mkt=&alph=&sec=&subsec=&dt_ht=&dt_lt=

As on your arguement about EPF done their due diligence. I am not EPF so i can't confirm but i doubt they do that. Even analysts that write report, most based their report on company management guidance. Eg. if you bought Yong Tai based on analysts optimistic reports, you would have lost your pants/dress. Simply because Yong Tai management has an optimistic projections on visitors number for Impression Melaka? Now, i am not in tourism business but i can count 5 fingers successful tourist attractions in Malaysia? I don't blame those analysts because most are young fresh graduates. (Hopefully not paid by anyone to write reports. This is fake news ok)

As on TG, i agree TG is a good company. However, worth buy or not depends on valuation at certain price. I don't post many comments and you can see that i suggest forumers to allocate 10% of their investment to glove companies in April due to uncertainty of covid. As on TG boss buying his shares, now this is my personal speculation. I speculate he did it because TG almost became biggest company in Bursa. It's an ego thing. Otherwise, why did he buy most when TG price was at the peak and his purchase reduced during March/April low? TG is a good company which i am monitoring

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