Ekonomi – Air Times News Network

3 tahun berturut KPMG masih gagal capai patuhi standard – Majlis Laporan Kewangan

LONDON, 25 Julai – Syarikat KPMG dikritik oleh pihak berkuasa perakaunan United Kingdom (UK) berikutan kegagalan firma itu untuk mencapai standard yang dikehendaki dalam melakukan audit sektor perbankan.

Menurut Majlis Laporan Kewangan UK (Financial Reporting Council, FRC) dalam satu kenyataan berkata, agensi itu gagal mencapai tahap memuaskan untuk tahun ketiga berturu-turut.

“Hasil pemeriksaan menyeluruh terhadap KPMG mendapati syarikat tersebut masih gagal memperbaiki beberapa perkara yang telah kami kemukakan sebelum ini,

“Perkara ini telah berterusan selama 3 tahun berturut-turut, satu situasi yang sukar untuk diterima oleh kami,” kata FRC dalam laporan tahunan mereka yang dipetik oleh FInancial Times.

Menurutnya, KPMG perlu memperbaiki prosedur dan garis panduan untuk pasukan audit perbankan mereka bagi menghasilkan laporan yang lebih bermutu.

“Kami akan memantau perkembangan KPMG secara rapat,” kata FRC lagi.

Financial Times turut menyatakan KPMG sedang berhadapan dengan tindakan undang-undang berhubung laporan auditnya terhadap firma pembinaan UK, Carillion.

Difahamkan, KPMG disaman sebanyak 250 juta Pound dan difailkan di Mahkamah Tinggi England.

Selain daripada itu, firma audit terbabit turut didenda sebanyak 4 juta Pound pada tahun 2019 berikutan isu laporan dapatan mereka dalam Co-op Bank.

Pada tahun yan sama, KPMG turut didenda sebanyak 3.5 juta Pound berhubung laporan audit mereka terhadap syarikat pelaburan korporat, BNY Mellon. – airtimes.my

KUALA LUMPUR: Shares of BIG Industries Bhd extended its rally on Friday, surging to RM1.98 as punters continued to chase up the industrial gases producer.

At midday, it was trading at RM1.98, up 26 sen with 18.79 million shares done. It was a record high for the company, then known as Bintulu Industry Gas, before a one-into -0 share split in mid-2005.

Its market capitalisation rose to RM101mil based on the issued shares of 52.90 units.

On Thursday, its share price hit limit-up, surging 38 sen to RM1.65 – a record since 2005.

Punters on social media platforms had expected BIG to gain by supplying liquid oxygen due to the surge in Covid-19 cases. Whether their expectations come true is yet to be seen.

https://www.thestar.com.my/business/business-news/2021/07/23/big-gains-for-big-share-price-as-its-hits-fresh-record-high

https://www.theedgemarkets.com/article/malaysias-daily-covid19-cases-climb-new-high-15902-july-24

More Oxygen needed...

https://focusmalaysia.my/oxygen-problem-at-ampang-hospital-leads-to-record-high-covid-19-deaths/

how important oxygen is, right?

:)

https://focusmalaysia.my/understanding-share-consolidation-and-share-split/

understand this before decide to invest....

on 22.07.2021 Lambo share value was only 0.001 (no values in the eye of investor)
After consolidate 25x, then it becomes 0.25 (now looks more attactive...didn't it?)
Company share issue also being reduced 25x

looks attractive?
haha...understand the risk before buying...

ermmm, can be trap? TAYOR

1.New INEDs and External auditor

https://focusmalaysia.my/serba-to-rid-2-burdens-off-its-chest-soon-new-external-auditor-and-ineds/

2.Share BUY back by Pak Karim

https://focusmalaysia.my/serbas-founder-doesnt-want-to-miss-the-fun-in-its-share-price-recovery/

3.Appointment of New appointment of external auditor today or latest tomorrow

https://focusmalaysia.my/serba-sets-to-appoint-its-external-auditor-within-a-day-or-two/

4.Now awaiting IR results before July end, latest by next week

5.Awaiting new external auditor for audited account by OCT 2021


YEAH financially, what Pak Karim promised to resolve this, and bring SDK back to its GLORY shall come true…

ERMmmmm HOLD while enjoying the RIDE!
Pak Karim have proactively taken the RIGHT STEP, and he will continue to do so!

MORE good news is COMING...

Pak Karim aware of your concern
Pak Karim have take the right step in appointing EY and INEDs

Pak Karim have shown a confidence by share buyback 10M

Now Pak Karim shall make the next MOVE....
New external auditor to replace kpmg
its another BOLD move,

while waiting for IR results before July end...

Pak Karim is with you guys,
SDK shall be bring back to ITS GLORY!

haha...
MORE good news is coming
HOLD while enjoying the RIDE!!


https://focusmalaysia.my/serba-sets-to-appoint-its-external-auditor-within-a-day-or-two/

Serba sets to appoint its external auditor “within a day or two”

Cheah Chor Sooi2-2 minutes 7/21/2021

SERBA Dinamik Holdings Bhd should be able to announce its new external auditor in due course – much sooner than its earlier stated end-July target.

This is given that the auditor which is to replace KPMG PLT which quit on June 24 has been approved by the board of the global integrated oil & gas (O&G) outfit after strong consideration of its ability to manage the job scope as well as its auditing experiences.

“The appointment process has been finalised. Expect an announcement over the next 24 to 48 hours,” a source close to the top management of Serba Dinamik told FocusM.

To re-cap, the company said last week that it has shortlisted “a few international auditors in the top 10 ranking” and would strive to conclude the appointment of its new auditor by the end-July timeline.

In a status update to Bursa Malaysia dated July 6, Serba Dinamik said it has submitted the RFP for provision of external audit to international audit firms on June 27 with its board targeting to appoint its new auditor by end-July.

Recall that Serba Dinamik had on June 22 filed a civil claim for substantial damages inflicted on its share price and market capitalisation.

Among others, the claims will be made on the grounds of professional negligence, breach of contract and breach of statutory duty.

Meanwhile, an attempt by FocusM to gauge how is KPMG is reacting to the legal suit filed by Serba Dinamik has only drawn a blank from the Big-Four accounting firm: “As the Serba Dinamik matter is before the courts, we are not able to comment any further.”

At the close of today’s trading Serba Dinamik was down 0.5 sen or 1.15% to 43 sen with 112.02 million shares traded, thus valuing the company at RM1.6 bil. – July 21, 2021

------------------------------------

SET to BOOM!

are you ready?

your are the REAL ANALYST, don't you?
until when you wanna other people decide on your behalf?
;)

when the price dip until 0.32, Public is the only analyst in the world, say HOLD TP 0.44,
you do not believe, right, coz you will look for analyst prediction until 0.15?
Haha, the price UP straight until 0.545..what action have you took?

haha, you are what you believe,
You will ask your God aka Mr Google to prove whats in your mind don't you?

Invest101
You're the REAL ANALYST

;)

some analyst will say BUY
some analyst will say HOLD
some analyst will say SELL

what say you?
your money, your call,
take calculated risk, the rewards shall be yours,

BUY on dips,
buy on fear,
buy on rumors',

wait for tyhe GOOD news,
sell on GOOD news,

the way you say, you haven't made any profit from SDK, don't you?
I have made handsome profit from SDK,
I know I will made a lot more...

ermmm, pity pak karim, too many smart speculator, so victims of this smart speculators

MORE good news coming...

;)

Pua calls for KPMG removal in GLCs

3-4 minutes 7/20/2021 by SHAHEERA AZNAM SHAH

KPMG Malaysia’s appointment in government-linked companies (GLCs) should be withdrawn following the auditing agency’s reputation in to the financial scandal of 1Malaysia Development Bhd (1MDB), says Damansara MP Tony Pua.

Recently, the Malaysian government, Ministry of Finance Inc (MoF Inc), 1Malaysia Development Bhd (1MDB) and various subsidiaries have filed a lawsuit against 44 partners of KPMG Malaysia on alleged breaches of contract and negligence on its 1MDB audit works from 2010 to 2012.

Pua said the failure of auditors in exercising professionalism in their duties to protect Malaysian tax-payers is an extremely serious matter and should be taken seriously.

“Since KPMG has refused to settle the matter with the government, and the government has finally taken an official stand to sue the auditors in court for compensation and damages, the next step the Finance Ministry (MoF) must take is for it to remove KPMG as the auditor for any company where the government has direct shareholder control.

“KPMG Malaysia must also be excluded from participating in government tenders until the above matter have been resolved in the courts.

“An example must be set to ensure no other auditor of the government entities will ever behave in the same way which contributed to making Malaysia the world’s largest kleptocracy because of the RM50 billion 1MDB scandal,” he said in a statement yesterday.

Earlier this month, MoF said a writ and statement of claim has been filed against 44 individual partners of KPMG PLT to seek more RM23.47 billion for their auditing role in the state investment fund.

The lawsuit, which was filed on July 6, claims that there were breaches of contract and negligence found in KPMG’s audit and certification of 1MDB’s financial statements for the financial years 2010 to 2012.

The claim sighted by a local business daily, The Edge Markets, noted that about US$5.64 billion were allegedly misappropriated from 1MDB and its subsidiaries to benefit former Prime Minister Datuk Seri Najib Razak and his associates or nominees.

The statement also stated other plaintiffs which include 1MDB Energy Holdings Ltd (1MEHL), 1MDB Energy Ltd (1MEL), 1MDB Energy (Langat) Ltd (1MELL) and Global Diversified Investment Company Ltd, formerly known as 1MDB Global Investment Company Ltd.

Of the US$5.64 billion, the plaintiffs claimed US$3.197 billion was misappropriated during the three financial years that KPMG served as 1MDB’s auditor.

In response to the international newswire, Reuters, KPMG denied the allegations relating to the state fund while planning to contest the billion-dollar lawsuit.

KPMG was sacked as 1MDB’s auditor after it refused to sign off on the fund’s 2013 accounts.

https://themalaysianreserve.com/2021/07/20/pua-calls-for-kpmg-removal-in-glcs/

TOP 10 INVESTORS (AS OF LATEST FILING) : SERBADK

INVESTOR NAME % O/S POSITION (M Shares) POSITION CHG (M) VALUE(M USD) FILING DATE FILING SOURCE

Mohd Abdul Karim bin Abdullah 20.90 778.88 -22.18 84.36 12-Jul-2021 Malaysia Insider

Abdul Kadier bin Sahib 16.18 602.90 11.00 46.49 04-Jun-2021 Malaysia Insider

Employees Provident Fund Board 4.97 185.08 -191.42 14.72 25-Jun-2021 Other Substantial/Declarable

Kumpulan Wang Persaraan (Diperbadankan) 4.53 168.85 -26.36 13.43 01-Jun-2021 Other
Substantial/Declarable

Permodalan Nasional Berhad (PNB) 4.34 161.75 -62.54 59.91 30-Apr-2020 Other
Substantial/Declarable

State Financial Secretary, Sarawak 3.38 126.00 0.00 46.67 30-Apr-2020 Other Substantial/Declarable

Lembaga Tabung Haji 1.39 51.95 51.95 19.24 30-Apr-2020 Other Substantial/Declarable

SBB Dana Al-lhsan 1.38 51.26 18.68 20.52 30-Nov-2020 MF

Public Islamic Select Enterprises Fund 1.29 48.11 48.11 18.51 31-Jul-2020 MF

Public Mutual Berhad 0.98 36.45 24.68 13.50 30-Apr-2020 Other Substantial/Declarable

https://www.bursamarketplace.com/mkt/themarket/stock/SERB/ownership

-----------------------------------------

they are still holding, why aren't you?

Waiting IR +'ve results this week/next week
Waiting TOP 10 External Auditor been appointed this week/next week

New INEDs completed and doing their TASK
EY as IR is completing their finding soon

Pak Karim have bought 10M share BUY back 0.48 on 12 Jul to give his assurance,

HAVE you take your action?

https://www.ft.com/content/40a66ec8-d2a1-47d6-a5df-d4414fe75649?fbclid=IwAR3dpG72WkP6iJUPVA1dAE1h27YT_4jVPIV6JrW9_CvScwUtTUI0ofzrIG4

KPMG settles legal claims after failing to spot fraud at Chinese group

Tabby Kinder in Hong Kong yesterday4-4 minutes 7/19/2021

KPMG will pay about HK$650m (US$84m) to settle legal claims after failing to identify fraud at a Chinese timber company whose calamitous initial public offering led to a backlash against poor listing standards in Hong Kong.

The liquidators of China Forestry claimed KPMG was negligent when it failed to detect serious false accounting by some of the company’s top management ahead of its listing in 2009.

KPMG settled the lawsuit late last month on the eve of a 10-week trial in Hong Kong, according to two people familiar with the matter.

The lawsuit against KPMG is the latest incident to draw scrutiny on the audits of Chinese companies that list outside the mainland.

The Big Four firms are facing renewed pressure from US regulators to hand over the audits of their New York-listed Chinese clients for inspection. China prevents foreign authorities from viewing many of its sensitive documents, including audit files.

Earlier this month, after the debacle surrounding ride-hailing app Didi, China warned that US law requiring US-listed Chinese companies to submit to American audits could result in important data leaking beyond the country’s borders.

China Forestry raised $216m when it listed in Hong Kong but it was suspended from trading just over a year later after its auditor flagged accounting irregularities. The company, which had been backed by international investors such as Carlyle and Partners Group, was delisted in 2017.

In 2019, Hong Kong’s Securities and Futures Commission (SFC) fined four international banks — UBS, Standard Chartered, Morgan Stanley and Bank of America Merrill Lynch — a combined $100m for due diligence failures on a series of IPOs, including China Forestry.

UBS, which sponsored the listing, was banned from leading IPOs in Hong Kong for a year. It was the toughest action then taken by the territory’s regulator to prevent poor-quality listings after a string of scandals at newly listed companies.

China Forestry’s liquidators claimed KPMG failed to detect during a pre-IPO audit that executives had falsified the company’s assets and revenue by submitting forged bank statements and customer records. They also claimed that some KPMG staff fabricated audit papers while carrying out the work.

KPMG denied the allegations and claimed it was not negligent in failing to detect the fraud. It did not respond to a request to comment on the legal settlement. Borrelli Walsh, the liquidators to China Forestry, and Lipman Karas, their lawyers, also declined to comment.

The settlement agreed is about half of the HK$1.3bn of losses that were claimed by liquidators, according to one of the people familiar with the matter.

The SFC fines against the four banks in 2019 were viewed as a landmark moment for regulatory enforcement on IPOs in Hong Kong. The regulator had been viewed as struggling to strike a balance between maintaining an attractive destination for Chinese listings, which make up more than 80 per cent of the Hong Kong exchange’s market value, while also seeking to crack down on fraud and misreporting by some of the same cohort of companies.

KPMG is also facing a legal battle over alleged audit negligence against the liquidators of formerly US-listed China Medical Technologies, whose executives have been charged with defrauding investors out of more than $400m. The civil case against KPMG is expected to go to court in Hong Kong next year.

-----------------------------

KPMG is no god,
to err is human
those thinking auditor is always right should think twice...

Katanya, ini kerana KPMG jelas enggan akur kepada tuntutan kerajaan, tidak seperti satu lagi syarikat audit, Deloitte yang setuju untuk membayar pampasan berjumlah RM324 juta.

"Kegagalan juruaudit untuk mengamalkan profesionalisme dalam tugasnya untuk melindungi rakyat Malaysia yang membayar cukai adalah perkara yang sangat serius.

---------------------

auditor is NOT god
ERR is human
so do kpmg

:)

waiting for IR results , +'ve
waiting new external auditer been appointed

both shall happens this and next week
Pak Karim have take a RIGHT step

SDK share will BOOMING again to its Glory
Ermm MORE good news coming

https://www.malaysiakini.com/news/583671

Saman 1MDB: MP gesa k'jaan tak lagi guna khidmat KPMG

Malaysiakini Team3-3 minutes 7/19/2021

Ahli Parlimen Damansara Tony Pua menggesa kerajaan menghentikan khidmat KPMG Malaysia sebagai juruaudit dalam mana-mana syarikat, di mana kerajaan memiliki kawalan menerusi pegangan saham.

Ia selepas kerajaan memfailkan saman berjumlah AS$5.64 bilion terhadap 44 rakan kongsi KPMG berhubung peranan syarikat itu dalam mengaudit dan memperakui penyata kewangan 1MDB bagi tahun kewangan 2010 hingga 2012.

Pua berkata, KPMG juga perlu dilarang daripada menyertai tender kerajaan sehinggalah saman itu selesai.

Katanya, ini kerana KPMG jelas enggan akur kepada tuntutan kerajaan, tidak seperti satu lagi syarikat audit, Deloitte yang setuju untuk membayar pampasan berjumlah RM324 juta.

"Kegagalan juruaudit untuk mengamalkan profesionalisme dalam tugasnya untuk melindungi rakyat Malaysia yang membayar cukai adalah perkara yang sangat serius.

"Teladan mesti ditunjukkan bagi memastikan tiada lagi juruaudit kepada entiti kerajaan akan berkelakuan sama, yang telah terlibat menjadikan Malaysia sebagai kleptokrasi terbesar di dunia dengan skandal 1MDB," katanya dalam kenyataan hari ini.

Pada 9 Julai lalu, Kementerian Kewangan dilaporkan telah memfailkan writ saman dan pernyataan tuntutan terhadap 44 rakan kongsi KPMG.

Dalam saman itu, Menteri Kewangan Diperbadankan (MKD), 1MDB dan lima lagi plaintif mendakwa syarikat itu gagal memberikan pandangan yang betul dan saksama berkenaan hal ehwal kewangan syarikat itu, serta gagal membangkitkan penyelewengan dananya.

Pecahan jumlah saman AS$5.64 bilion itu adalah seperti berikut: AS$1.83 billion yang didakwa diselewengkan daripada usaha sama 1MDB dengan Petrosaudi International; AS$1.367 bilion yang didakwa disalurkan kepada Aabar British Virgin Islands sebagai deposit; AS$1.59 bilion yang didakwa diselewengkan daripada perolehan bon 1MDB Global Investment Ltd; dan AS$856,317 juta yang didakwa diselewengkan daripada dua pinjaman (syndicated term loan) yang diraih oleh 1MDB Energy Holdings Ltd kepada Aabar BVI dan Aabar Seychelles.

Saman itu difailkan susulan rundingan yang berlanjutan dengan KPMG untuk mencapai penyelesaian dan mendapatkan semula dana yang hilang.

KPMG telah menafikan dakwaan yang terkandung dalam saman itu dan berkata pihaknya akan mencabarnya di mahkamah.


NEWS
1MDB lawsuit: MP says GLCs should terminate KPMG
https://www.malaysiakini.com/news/583661

https://www.bharian.com.my/bisnes/korporat/2021/07/840691/serba-dinamik-bantu-selesaikan-masalah-internet-di-jeli

https://www.bharian.com.my/bisnes/korporat/2020/08/718557/serba-dinamik-dapat-projek-rm147-bilion-di-uae

https://www.bharian.com.my/bisnes/korporat/2019/10/618569/serba-dinamik-dapat-kontrak-rm68281-juta

https://www.bharian.com.my/bisnes/korporat/2021/03/794332/serba-dinamik-dapat-kontrak-di-india-indonesia

https://www.bharian.com.my/bisnes/korporat/2020/04/677590/serba-dinamik-dapat-kontrak-rm771-bilion-di-abu-dhabi

https://www.bharian.com.my/bisnes/korporat/2021/06/825511/serba-dinamik-kekal-peserta-penting-sektor-minyak-gas

------------------------------------------

too many, just paste some..

may be got some expert here would like to verify..
asking Mr Google may be? or via truecaller?

:)

some people will side on covid19,mostly -'ve mindset,
some people will side on vaksin, mostly +'ve mindset,

however, both can be true to a certain extent,
how you act, define who you're,
in every event, challenging situations, there's lies a huge opportunities,
for those who know how to act!

not to act is a sheer loser,
wait n see, you'll lose some great opportunities,

so be it, be sided,
calculate your risk and rewards, act!
you money, your call,

just do not scare people, with info you yourself did not know the truth,
just mere speculate, google and googling, god = mr google
;)

pity pak karim, victims of irresponsible speculators

100% agreed with @pinky about contract arrangement.

if you expect all BIG contract must go thru via open tender or straight deal, haha it just won't.

if you say no middle-co/ali baba/RM 1 co on the other part of the world, think again, if its can happen in boleh-land, it can happens in other parts of other countries too.

if you think, every info you can easily get just by typing and asking Mr Google, then you're noob, no difference from auditor that just short-cut by asking "tru-callers".

welcome to real worlds guys.
your money, your call
take calculated risk,
take ACTIONs,

;)

https://www.airtimes.my/2021/07/17/serba-dinamik-lebih-1-bilion-unit-saham-didagangkan-minggu-ini/

Ekonomi – Air Times News Network

Serba Dinamik: Lebih 1 bilion unit saham didagangkan minggu ini

written by M.Daim2-2 minutes 7/17/2021

KUALA LUMPUR, 17 Julai – Sebanyak 1,215,511,900 unit saham Serba Dinamik Holdings Berhad didagangkan pada minggu ini.

Saham dibuka pada paras RM0.465 pada Isnin lalu sebelum ditutup pada RM0.455 hari Jumaat.

Sepanjang 5 hari dagangan, saham Serba Dinamik capai paras tertinggi iaitu RM0.48 dan terendah iaitu RM0.405.

Para pelabur mengambil sentimen tunggu dan lihat di mana mereka sedang menanti hasil penilaian bebas oleh EY. – airtimes.my

--------------------------------------------

SDK is still TOPpers of bursa chart, many is aware of what is happening

Many is wait and see
Many is BUYing
Many is selling
Many is doing nothing (haters/pessimist/lowballers/speculators)

BUT no one can deny, its one of the most active traded stock
Its just wait to "BOOM" UP!
IR results gonna out next coming week
External auditor gonna out b4 July END
Audited account by OCT

EY is doing their jobs
INEs is doing their TASK
Pak Karim have taken THE right step

SDK is a solid fundamentals co
SDk is never fails to PAY dividen
SDk future is intact, new explore in space/IT/defence
SDK GLORY shall come again SOON

invest101
buy when people in FEAR
buys when people is sceptic
buys on rumours
SELL on good news!

haha
MORE good news coming...
;)

At the same interview, Mohd Karim again addressed concerns about Serba Dinamik’s financials (see “Ballooning books due to nature of businesss, pace of growth”) and contracts.

“In the African continent, we have made very successful inroads. We are competing head-on with companies from China, which come in with their financing packages in all their projects. So it is quite a challenging environment.

“And of course, we have been in the Middle East for more than 20 years,” he said.

“Again, there were quite a lot of smear allegations, for example, the Block 7 Innovation Hub, which people allege is a ‘left-pocket, right pocket’ deal, which is totally untrue.

“I put up a challenge to invite anybody to go over there any time. We will bring them to the sites, let them speak to the authorities and meet up with all the relevant people.”

https://www.theedgemarkets.com/article/serba-dinamik-formally-appoints-ey-independent-review

---------------------------------------------

free tickets to verify block 7, anyone? (haters)

do not just keep asking My Google OR "truecallers"

:)

invest101

BUY on DIP, when people feel loose hope/ no confidence, then believe in the power of "miracle" economic shall recover

In case of SDK, now is the time, from 1.60 go down to 0.32, people seem to go mad/insane, thanks to haters

then believe in the SDK management & Pak Karim, they are doing their best to bring its GLORY back. Look as the fundamentals & track record, its "proven"

You shall make tonnes of $$$, TA + FA, the rest is pure your luck

Calculate your risk and reward, and take ACTION! not just KEEP condeming but ZERO act!

Show started....

:)

https://www.e-serbadk.com/portfolio/pengerang-eco-industrial-park-and-pengerang-international-commercial-centre-in-johor-malaysia/

this one too....

understand SDK values

;)

https://focusmalaysia.my/few-top-10-auditors-keen-to-fill-up-serba-dinamiks-vacancy/

LOOKING for a HINTS? or a BUY call?

read words by words..

be careful ;)

Morning folks

ignore any negative energy / haters / pessimist / lowballers
they have 1001 excuses, just to bark, opinion is free & cheap

focus on the +'ve
Pak Karim have taken right STEP to bring SDK to its GLORY!

We are waiting for +ve IR results b4 July end
We are waiting for New Auditors being appointed by end July
We are waiting for full audited acc by Oct
We are waiting possible emerging new major shareholders soon

SDK have completed INEDs and they are doing their task
Pak Karim give his assurance by BUYing 10M shares on Monday

SDK have proven in the past
SDK have solid fundementals co
SDK never miss giving dividen
SDK future business expansion is quite promising space/ICT/defence/energy

Our money, our call
Many have smile yesterday
We gonna smile more soon

Haha
MORE GOOD news coming!

:)

today "PANAS"kan engine SDK +5.5 vol 413M

tomorrow me"ROKET"

BUY your tickets.....and HOLD

MORE Good NEWS coming!

https://focusmalaysia.my/few-top-10-auditors-keen-to-fill-up-serba-dinamiks-vacancy/

------------------------------------

read this news word by word,

for those who seek for BUY signal, there's a lot of HINTs, more GOOD news coming

for hater, keep downgrading, and keep twisting WORD, that's what you're good at!

for believer of SDK, congrates!

for non-believer...just wait, and wait, and KEEP waiting..

ermmmm...what a beautiful day! HALF-DAY 12% :)

https://www.theedgemarkets.com/article/bursa-malaysia-remains-upward-trend-midday

its a gud-day to BUY...

ermmm

wait....it will go down

wait...still...will go down below 0.30

wait..just up a little bit...will down again later

wait...now a bit expensive, wait it will drop again...

haha...typical haters/pessimist/lowballer

they will never out of idea and excuses

Pak Karim have taken +'ve step to rectify the issue and bring back SDK to its GLORY!

what STEP have you take?

NOW...toouching 12.19% :)

I am smiling to the bank TODAY...have you?

MORE show after lunch

BUY your tickets NOW....

TODAY is Pak Karim day, SCIB, KPOWER and SERBADK!

talking is cheap, opinion is free

Pak Karim have put +'ve step to rectify the issue, action is LOUDER than...

BUY or SELL is your call, its your money...

IR results gonna out before end July

New auditor will be appointed before end july

2 new INEDs have completed, and doing their task

Pak Karim have delivered his promised BUYing 10M share at 0.48

SDK is a solid fundamentals co and track record

What have you done? other than predict the future and talk negative
haters/pessimist/lowballers/pak nujum will always be there

Haha...MORE good news shall COME

“In short, the search for new auditor is progressing according to schedule. Suffice to say Serba Dinamik will strive to meet the end-July target,” a source close to the company’s top management told FocusM.

In a status update to Bursa Malaysia dated July 6, Serba Dinamik said it has submitted the RFP for provision of external audit to international audit firms on June 27 with its board targeting to appoint its new auditor by end of this month.

On other matters, the source said its special independent reviewer Ernst & Young Consulting Sdn Bhd (EY) has commenced its special independent review process while the company’s two newly appointed independent non-executive directors (INEDs) Datuk Seri Mohamed Farid Abu Hassan and Siti Zaleha Sulaiman are adapting well to its board functions.

https://focusmalaysia.my/few-top-10-auditors-keen-to-fill-up-serba-dinamiks-vacancy/

---------------------------

so far all the "HINTS" from FocusM is 99% true

haha

expecting GOOD news SOON!

“Few Top 10” auditors keen to fill up Serba Dinamik’s vacancy

Cheah Chor Sooi3-4 minutes 7/15/2021

SERBA Dinamik Holdings Bhd’s search for an external auditor to replace KPMG PLT which quit on June 24 is progressing smoothly with the company having received request for proposals (RFP) from “a few international auditors in the top 10 ranking”.

It is learnt that the global integrated oil & gas (O&G) outfit will shortlist its auditor candidates to two prior to commencing negotiation with the duo soonest.

“In short, the search for new auditor is progressing according to schedule. Suffice to say Serba Dinamik will strive to meet the end-July target,” a source close to the company’s top management told FocusM.

In a status update to Bursa Malaysia dated July 6, Serba Dinamik said it has submitted the RFP for provision of external audit to international audit firms on June 27 with its board targeting to appoint its new auditor by end of this month.

On other matters, the source said its special independent reviewer Ernst & Young Consulting Sdn Bhd (EY) has commenced its special independent review process while the company’s two newly appointed independent non-executive directors (INEDs) Datuk Seri Mohamed Farid Abu Hassan and Siti Zaleha Sulaiman are adapting well to its board functions.

Among others, EY which was appointed on July 2 is tasked to assess the validity and veracity of the transactions and balances with respect to the 11 identified customers on sales transactions, trade receivables and materials on sites as well as to quantify the possible financial impact, if any.

Meanwhile, former Special Branch director Mohamed Farid, 62, and former Bursa Malaysia corporate risk management head Siti Zaleha, 57, joined the Serba Dinamik board on July 7 following an en masse resignation of five INEDs on June 25.

Four of the INEDs have cited “differences in opinion with the decisions made by the board which is not to the best interest of the company” as the reasons for their departure.

“On another related development, the take-up rate for Serba Dinamik’s Pengerang Eco-Industrial Park (PeIP) sales is promising despite bleak prospect of economic slowdown stemming from the COVID-19 pandemic,” added the source.

In a nutshell, PeIP is an ecosystem of infrastructure, facilities, and providers of products and services housed within one location. The objective is to provide a one-stop centre to meet the needs for maintenance of plant and machinery.

PeIP is strategically located within 4km from the US$27 bil (RM110 bil) PETRONAS’ refinery and petrochemical integrated development (RAPID) project.

On a positive note, Serba Dinamik group managing director and CEO Datuk Dr Mohamed Abdul Karim Abdullah did not mince his words when he acquired 10 million shares in the open market on July 12 at an average price of 46.9 sen which raised his stake in the company to 21%.

In tandem with the bearish trend on the local bourse, Serba Dinamik closed 3.5 sen or 7.87% lower yesterday (July 14) to 41 sen with 234.12 million shares traded, thus valuing the company at RM1.53 bil. – July 15, 2021

focusmalaysia.my /few-top-10-auditors-keen-to-fill-up-serba-dinamiks-vacancy/

Haha MORE good NEWS coming

themalaysianreserve.com /2021/07/14/trading-volume-on-bursa-malaysia-to-fall-in-the-near-term/

Trading volume on Bursa Malaysia to fall in the near term

3-4 minutes 7/14/2021

ADTV had weakened to RM3.4b on average from June till July 8, compared to RM4.2b and RM4b average in April and May respectively

----------------------

EXPECTED!

buy buy buy discount price due to covid19 touching highest 11,618

whole bursa also RED...(except kaunter goreng)

Pak Karim had give his assurance...via 10M share buy back 0.48

Announcement of IR results + appointment of external auditor gonna be very +'ve

Share BUY back level 1 DONE more to come
possible emerging new major share-holder soon

Results IR
Appointment External auditor

more good news soon

www.thestar.com.my /business/business-news/2021/07/14/serba-dinamik-chief-abdul-karim-buys-back-10-million-shares-
Serba Dinamik chief Abdul Karim buys back 10 million shares
1-2 minutes 7/15/2021
KUALA LUMPUR: Serba Dinamik Holdings Bhd's boss Datuk Mohd Abdul Karim Abdullah is putting his own money to support the embattled stock.

Filings with Bursa Malaysia today showed that Karim had acquired 10 million shares in Serba Dinamik from the open market on Monday.

The purchase also signaled that recent force-selling of his shares may have ended.

The filings on Monday did not revealed how much Karim had spent to purchase the shares.

The counter fluctuated between 44 sen and 46 sen on Monday, before it ended at 45 sen.

Shares in Serba Dinamik were last traded at 41 sen on Wednesday. The stock plunged 75% from it was in late May.

The purchase on Monday lifted Karim's shareholdings in the company to 778.786 million shares, or 20.996%.

Karim had previously owned more than 897 million shares in Serba Dinamik in late June, prior to the recent forces selling.

character of a CHILD...keep repeating over and over again, without prove! even fact also putar belit

they just accuse, and acuse...

they asking a question, and keep questioning, even they did not know the answer,

and they just assume, and asume, according to their whims and fancy...

Ermm..pity Pak Karim, victims of so called "smart speculator"...

Serba Dinamik tinjau peluang sertai industri pertahanan Malaysia
written by M.Daim 13 July 2021

KUALA LUMPUR, 12 Julai – Serba Dinamik Holdings Berhad (Serba Dinamik) dikatakan telah mengorak langkah, memperluaskan segmen syarikat dengan menyertai industri pertahanan negara.

Keyakinan Serba Dinamik berlandaskan kepakaran semasa syarikat dalam bidang kejuruteraan sejak mula bertapak pada tahun 1993. Jika ini berjaya, tidak mustahil Serba Dinamik akan menjadi salah satu pemain utama dalam industri pertahanan tanah air.

Menurut sumber, Serba Dinamik telah merancang untuk teroka industri ketenteraan tanah air bagi memperkukuhkan lagi postur pertahanan negara.

“Serba Dinamik telah merancang untuk memperluaskan skop mereka selepas mengumumkan kerjasama syarikat dengan universiti tempatan dalam bidang angkasa,” katanya.

“Penglibatan Serba Dinamik bakal merancakkan lagi industri pertahanan negara.

“Ini selaras dengan matlamat kerajaan Malaysia untuk menggunakan kemahiran tenaga tempatan dalam membangunkan industri,” jelas sumber lagi.

Sumber yang dihubungi enggan mengulas lanjut mengenai bidang yang bakal dimeterai bersama pihak Angkatan Tentera Malaysia (ATM) tetapi menggambarkan Serba Dinamik telah bertindak secara aktif.

“Mereka kini berada pada garisan yang betul sesuai dengan Revolusi Industri 4.0 (IR4.0) yang pasti akan menjadi asas pembangunan teknologi pertahanan ada masa hadapan,” katanya.

Pada 18 Mac lalu, Serba Dinamik mengumumkan penubuhan Bahagian Angkasa (Space Division) yang akan bermula suku ketiga 2021.

Penubuhan bahagian khusus tersebut akan membawa kepada penerokaan tenaga industri tempatan ke dalam bidang angkasa lepas.

Pada masa yang sama, Serba Dinamik mengadakan kerjasama dengan 7 universiti tempatan iaitu Universiti Tun Hussein Onn Malaysia, Universiti Malaysia Sarawak, Universiti Sains Malaysia, Universiti Teknologi Mara, Universiti Kuala Lumpur, University Malaysia of Computer Science & Engineering dan International College of Advanced Technology Sarawak. – airtimes.my

Pak Karim is here to STAY!

He will bring back SDK to its GLORY....

Haha wait for MORE news....

https://www.airtimes.my/2021/07/13/serba-dinamik-tinjau-peluang-sertai-industri-pertahanan-malaysia/

Haha

STAY ALERT,

Pak Kaarim is ALIVE...

MORE good news is coming....

haha....now no more barking requesting price to be 0.05 or 0.15, or even 0.30 or even below than that.

now instead, asking WHY shoud we buying, gimme good reason?
WOW that a good improvement..

now a lowballer just praying to be red (for them to attack), if green then they need to be quiet
they keep asking TP for them to bark again if it did not hit.

what an easy things to do

they just hoping as if Pak Karim did not exist....

pity for them....ermmm

so do not mislead others about accounting/account when you yourself still blurr about basic thing about O&G. At least you do some study, then people know you are giving genuine "opinions"

BUT now spot on, you just blindly hentam.

I thought that you the type that call "spade is a spade' but now it seems "reverse"

Ermm...pity Pak Karim, victims of so call "smart" speculator

only NOOB will say all OnG company is the same.

OnG is a sector. Under that sector still there is much more segment to explore and do business

there is company that only focus into local business, too depending on Petronas for a contract/job.

BUT, the main strength for SDK, is Petronas is the one who train PAK Karim until SDK become what it is today.

Now SDK did not depending too much on Petronas per se. Major of its business is O&M in middle east, since 20 years ago...

so, go and do some homework, study the "strength" of SDK and Pak Karim.

Luckily, someone we thought "smart & expert", seem gonna look like "noob" bcoz just "hentam" blindly

ermmm....pity pak karim, victims of malicous "smart" speculator

OnG is very wide, go and read financial statement SDK and others.

SDK doesn't effect to much on ups and down oil pricing.

Go and ask someone from OnG explain to you. O&M is different. so as other segment such as oil rig etc

So as sprng/velesto/other company, they have their own specialties which is not necessarily tied to volatility of oil pricing.

Petronas is affected, as it is "pengeluar minyak.

The rest, such as SDK is just a "contractor"

Some-more SDK business is mostly in the middle-east, that's why its profitability, doesn't seems correlates much with Malaysian current weaken economic situations.

fundamentally strong SDK is a multinational company, seconded after Petronas.

Now Pak Karim have explored other area such as IT, training, Space to ensure SDK able to maintain its revenue and profitability, not just too depending on OnG business

https://www.theedgemarkets.com/article/klci-bucks-regional-trend-close-lower-political-uncertainty-and-economy-woes

thins gonna be different if market is on uptrend. able to maintain above 0.44 show some strength for SDK.

More to come tomorrow onwards. meantime digest below interview excerpt with Pak Karim & CFO.

More clearer picture about whats going to happens to SDK

https://www.theedgemarkets.com/article/serba-dinamik-formally-appoints-ey-independent-review

At the same interview, Mohd Karim again addressed concerns about Serba Dinamik’s financials (see “Ballooning books due to nature of businesss, pace of growth”) and contracts.

“In the African continent, we have made very successful inroads. We are competing head-on with companies from China, which come in with their financing packages in all their projects. So it is quite a challenging environment.

“And of course, we have been in the Middle East for more than 20 years,” he said.

“Again, there were quite a lot of smear allegations, for example, the Block 7 Innovation Hub, which people allege is a ‘left-pocket, right pocket’ deal, which is totally untrue.

“I put up a challenge to invite anybody to go over there any time. We will bring them to the sites, let them speak to the authorities and meet up with all the relevant people.”

‘Ballooning books due to nature of business, pace of growth’
Serba Dinamik Holdings Bhd has come out to justify the rising receivables and inventories in its books, which had grown by more than 100% and 50% respectively between December 2019 and March 2021.

In an interview with The Edge, Serba Dinamik chief financial officer Azhan Azmi explains its cash flow position in recent years. “These will happen when you grow your O&M (operations and maintenance) contracts,” he says.

“This is a typical nature of our business, [as these contracts] are working-capital-heavy. As and when you get a new contract, you need to pay upfront to stock your inventories as required by clients.”

On the receivables, Azhan says, “Our EPCC (engineering, procurement, construction and commissioning) segment is also starting to grow. You will perform the work and recognise the revenue based on the percentage of completion.

“However, the invoice is based on milestones achieved. So, there is always a time lag between when you spend your cash and the date of collection.

“Overall, our cash cycle can go between 90 and 150 days, and it always stretches our working capital — as and when we start to grow. Unless our order book maintains [its size], then you can see cash flow improve.”

https://www.theedgemarkets.com/article/serba-dinamik-formally-appoints-ey-independent-review

-----------------------------------
Haters gonna hates THIS,

MORE & more Good News is Coming
Haha

At the same interview, Mohd Karim again addressed concerns about Serba Dinamik’s financials (see “Ballooning books due to nature of businesss, pace of growth”) and contracts.

“In the African continent, we have made very successful inroads. We are competing head-on with companies from China, which come in with their financing packages in all their projects. So it is quite a challenging environment.

“And of course, we have been in the Middle East for more than 20 years,” he said.

“Again, there were quite a lot of smear allegations, for example, the Block 7 Innovation Hub, which people allege is a ‘left-pocket, right pocket’ deal, which is totally untrue.

“I put up a challenge to invite anybody to go over there any time. We will bring them to the sites, let them speak to the authorities and meet up with all the relevant people.”

-------------------------------

Pak Karim offer free tickets to FLY! anyone?

Haha..
MORE good news coming

https://www.theedgemarkets.com/article/bursa-malaysia-red-territory-midday

very positive start. GAP UP!

what IF?
fail on IR finding
fail to provide audited acc
fail to attract new institutional investor

instead

WHAT IF?

the IR finding +'ve
the audited acc ready by Oct
there is new emerging new major shareholders
there will be share BUY back by directors

+'ve step taken, (against all odds, despites criticism)
EY been appointed as EY ( even critic says PN17)
Completed 2 new fire power INEDs ,ex SB director Dato Sri & Ex Bursa (even critic says nobody wannabe )

price rebound from 0.32 UP till 0.545 ( haters claim down till 0.15, never happens )
price UP again after retract from 0.44 to 0.455 ( despites lowballer said down to 0.32 back )

there is always 2 sides of a coins
haters always be there
pessimist is there
lowballers also there

Pak Karim have taken positive STEP to bring SDK back,
SDK have a great fundamentals
SDK never fails paying dividens in the past
SDK is a strong multinational presence

Haha MORE good news coming
Happy RIDING, Block buster SHOW started MONDAY onwards