Finally Datuk Haji call-off the EGM to remove KPMG. (Please refer to bursa annoucement)
My guess is he call-off the EGM under influence of SC or Substantial shareholders' pressure !
Based on ISA 701
What is Adverse Opinion?
The auditor shall express an adverse opinion when the auditor, having obtained sufficient appropriate audit evidence, concludes that misstatements, individually or in the aggregate, are both material and pervasive to the financial statements.
If there are (Nearly 2 quarter revenue are manipulated) and the evidence are found by KPMG, Adverse Opinion will be express in the auditor report!
Wow, can't wait to see the audited report!
What is Disclaimer of Opinion?
The auditor shall disclaim an opinion when the auditor is unable to obtain sufficient appropriate audit evidence on which to base the opinion, and the auditor concludes that the possible effects on the financial statements of undetected misstatements, if any, could be both material and pervasive.
The auditor shall disclaim an opinion when, in extremely rare circumstances involving multiple uncertainties, the auditor concludes that, notwithstanding having obtained sufficient appropriate audit evidence regarding each of the individual uncertainties, it is not possible to form an opinion on the financial statements due to the potential interaction of the uncertainties and their possible cumulative effect on the financial statements.
Under practice note 17
2.1 (d) the auditors have expressed an adverse or disclaimer opinion in the listed issuer’s latest audited financial statements;
What does it mean ? If KPMG give an adverse opinion, SERBA DINAMIK HOLDINGS BHD Will trigger PN 17 Prescibed Criteria, will be labeled as PN 17 company!!
goodluck all investors.
can't wait to see how it goes!
Chart | Stock Name | Last | Change | Volume |
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Created by Vivian Ai | Jun 01, 2021
KMPG local partners on 1MDB debacle have been screwed left right center by world partners
After been screwed KPMG local
partners screwed all d management staff n told them must uphold highest standards
KPMG management staff overzealouslly suddenly insist on world standard documentation
Karim started small Petronas trained still maintain small biz mentality n documentation
These 2 worlds collide
Karim has not changed Serbadk has not changed
KPMG has changed
KPMG is lost without direction
2021-06-04 20:26
OrlandoOilSemiconIoT Thr is no fraudulent transaction
Thr is no financial loss
Thr is only lousy documentation
04/06/2021 8:28 PM
X
OrlandoOilSemiconIoT Malaysia stadard documentation
04/06/2021 8:30 PM
2021-06-04 20:32
Those things brought up by KMPG r very unsophisticated for someone who intends to con to con so big
2021-06-04 20:42
Serba change FY to June 2021..............so no audit report due till Oct 2021. This makes a mockery of Bursa. Normal people ask for extension of time to file audited accounts not change FY.
2021-06-04 23:12
May be is joint plan by Serbadk bosses and KPMG to create panic selling in the open market so that every wise person can own Serbadk shares at very cheap prices like 0.765 today.. only a thought..
2021-06-04 23:16
BE VERY CAUTIOUS WHEN U BUY INTO SHIT SERBA, KPOWER & SCIB LOH!
These are some dangerous signs now appearing in Serba
1) Auditors are Flagging Red Flags
A Post investigation reveals a perfect storm in China’s manufacturing industry, with consultants helping factories receive a passing grade from auditors by covering up malfeasance. Illustration: Henry Wong
Above refers to Corrupt Auditors which money can buy
Thank God, KPMG PLT the whistle blowing Auditors Is Upright & Righteous
THUMBS UP TO KPMG!
WELL DONE!!!
So Now We See Lots of Hidden Worms Coming out of the Cans.
2) See Some Fellow i3 Forum Comments
Blog: Serba Dinamik: In search of total solutions to address KPMG’s red flags
Posted by sense maker > May 31, 2021 3:35 PM | Report Abuse
The solution is dissolution of the company. When figures are so materially inflated or fake, the company is worth nothing. We are gonna see RM0.15-0.30 a share for all 3 companies of serba, kpower and scib.
A check with Sense Maker i3 forum history shows that he 1st joined i3 forum in January 2013 (9 months before i joined)
To have survived the shark and crocs infested stock market these 8 years show that he has been very careful & watchful of his investments while so many have fallen prey and perished. Many other Careless & Heedless Punters & Traders No longer in i3 after having lost everything & gone bankrupt
Let us do a breakdown of when Sense Maker posted
Posted by sense maker > May 31, 2021 3:35 PM | Report Abuse
The solution is dissolution of the company. When figures are so materially inflated or fake, the company is worth nothing. We are gonna see RM0.15-0.30 a share for all 3 companies of serba, kpower and scib.
1) When figures are so materially inflated or fake, the company is worth nothing.
He said Serba accounts are inflated & fake & the company is worth nothing
2) We are gonna see RM0.15-0.30 a share for all 3 companies of serba, kpower and scib.
He said Serba, Kpower and Scib are worth only 15 sen to 30 sen?
WoW! That is a great judgement
Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD
May 31, 2021 9:40 AM | Report Abuse
First limit down, two more to come.
Stock: [KPOWER]: KUMPULAN POWERNET BHD
May 30, 2021 1:27 PM | Report Abuse
Triple limit downs are expected.
WOW! Sense Maker expects Kpower to limit down 3 times!!
Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD
May 29, 2021 2:15 PM | Report Abuse
Same tactic is used in kpower and Serba. Bloated Receivables and huge bank borrowings. Fair value of this kind of companies is minimal. RM0.20-0.30, max.
Stock: [KPOWER]: KUMPULAN POWERNET BHD
May 29, 2021 12:22 PM | Report Abuse
Profits have been possibly or probably inflated and chucked into its huge receivable. It has net cash but still needs cash via private placement. That is the second big red flag. This company operates without much fixed assets. Possibly it’s serving mainly as a billing platform only, a third red flag. This kind of company should be valued at book value, at most. We are looking at RM0.15 fair value, ie 50% discount, to be judging the veracity of its book reasonably. A strong sell.
So his comments piqued my interest
That Triggered Calvin's own Investigations into the Accounts of Serba, Kpower & Scib
All three smelled of the same rat sting
That will be in another Upcoming Post
2021-06-05 09:01
Transmile, megan media and kennark were still working at this early stage previously mah!
Posted by B4b4 > Jun 5, 2021 9:03 AM | Report Abuse
Buy on dip. Buy and keep. This problem will come to pass. PNB, EPF, KWAP and Sarawak Fund are still holding their shares. Any issues can be solved. 1725 employees are still working in SD
2021-06-05 09:07
By that time too late mah!
Posted by Jokers2020 > Jun 5, 2021 9:59 AM | Report Abuse
normal la Institution sell.EPF n PNB still holding so no worry yet.Once this 2 start sell than can say bye2
2021-06-05 10:26
FIRST S&P AND NOW FITCH HAVE DOWNGRADED SERBA BOND TO JUNK BOND STATUS, Calvin Tan Research
https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/2021-06-05-story-h1566073211-FIRST_S_P_AND_NOW_FITCH_HAVE_DOWNGRADED_SERBA_BOND_TO_JUNK_BOND_STATUS_.jsp
2021-06-05 21:48
Definitely hanky panky loh....if it was so easy like probability said, definitely the auditor will not red flag as kpmg are very experience people in the audit field, they have seen many similar type of serba of situation b4 loh!
The other thing, why the normally conservative credit agency, gave a very big downgrade Serba credit rating by 3 notches down to super junked of B minus leh ?
Surely they feel something very fishy loh...!!
By having such a very low credit rating....the whole Sukuk Program is in technical defaults & the banks will be recalling their sukuk loans now!
This will set the bankruptcy proceeding rolling loh..!! If that happen the equities or the share value of serba will have zero value bcos the lenders will have the 1st claim on Serba Assets mah!
I think u will be digging your own grave...if u listen to probability...taking serba current pressing problem very likely loh!
If u r willing to gamble & prepare to see your investment in serba becoming zero, then by all means gamble on it loh!
But u actually do not need to take such big risk now...if u cut & run at least u get back 76 sen per share compare to zero & at least limit your losses loh..!!
Posted by i3lurker > Jun 5, 2021 9:16 PM | Report Abuse
probability is way better than 2 Global rating agencies
coz probability punya binocular stock check bounces off the Inmarsat satellite
and can count those materials on site with an accuracy of plus minus 2 microns
he can even tell you what the staff had for lunch and whether they had sex before going to work
CharlesT Rating Agency downgraded their bond to junk bond...maybe they dont hv some smart employee like Probability...or another junior staff's work??
2021-06-05 21:50
This is the problem of industry people loh...!!
They always thought the oil & gas equipment is not cheap & very expensive and valuable loh...!!
But this is not true loh..!!
A good example is SAPNRG at one time it is worth Rm 4.00 per share bcos of its valuable plant & equipment loh....but today its Share price is only 13 sen loh..!!
What happen leh ?
A big chunked of SAPNRG equipment is destroyed and become junked & impaired due to lack of use mah...!!
This samething may happen to serba too mah!
Posted by Supermax2020 > Jun 5, 2021 9:50 PM | Report Abuse
I am from oil and gas industry and have personally managed contract worth billions of ringgit.. i tell u the equipment and accessories for oil and gas industry such as gas turbines and compressors are not cheap!
2021-06-05 21:59
AFTER SERBA YINSON IS ANOTHER STOCK WITH HORRENDOUS BORROWINGS AND VERY SMALL DIVIDEND YIELD, Calvin Tan Research
https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/2021-06-05-story-h1566074230-AFTER_SERBA_YINSON_IS_ANOTHER_STOCK_WITH_HORRENDOUS_BORROWINGS_AND_VERY.jsp
2021-06-05 23:17
Very easy explaination mah!
U see...the scam cover already blow out...what to do leh ?
Put up a brave face & front buy some share...to say have confidence...say every thing is normal...to delay suspicion loh...!!
In fact the share they bought....can also be from their nominees accounts...meaning their nominees are selling...& the owner/directors is buying loh!
Again this another cash recycling strategy of their own pool of monies & share loh!
Posted by winston1 > Jun 5, 2021 11:33 PM | Report Abuse
Anyway, the funny thing is that the directors are still moping up the shares.
2021-06-05 23:41
calvintaneng
SERBA, KPOWER & SCIB ACCOUNTS LOOK LIKE BEING COOKED AND MANIPULATED , Calvin Tan Research
https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/2021-06-03-story-h1566043478-SERBA_KPOWER_SCIB_ACCOUNTS_LOOK_LIKE_BEING_COOKED_AND_MANIPULATED_Calvi.jsp
2021-06-03 21:54