Sold all at 0.325. Best price I managed to get. Feeling contented.

I'm surprised there are still people commenting here in i3. Many have already moved to Telegram group

CEO didn't say they want to stay small. Instead, quite the opposite. That's the reason for the huge acquisition of Quantum China.

If no one appreciates penetrating to China market is a big deal, then it's best they stay with speculative stocks.

All these earnings take time materialize. Now, it's just the beginning. No one can see the full potential yet.

any idea how the results will be for q3 and q4?

any idea when quarter results will be announced?

does Bursa still allow the one month extension ?

Profit is kinda ok but still lower than previous quarter. Mgt prospect says downside risks persists until Phase 2 of national recovery starts. Estimated recovery in 2nd half of 2022.

anyone still holding this stock?

if yes, what potential do u see?

How does share consolidation caused losses to minority shareholders?

Dr. Lim has been consistently purchasing it's own shares over the years, more so in this year.

Seems surprising that he's buying now in such a bad market sentiment.

No queue, then there you go, there is your answer. It's a hype.

Also please compare the number of Insta followers CU vs FamilyMart. You will be surprised.

anyone has any idea if CU stores still have queue now?

For those who said bank borrowings are low and banks can borrow, I'd like to know:

1) How is bank borrowings low when Cash balance is RM6m and Borrowings is at RM58m?

2) Do you think the bank will want to lend to Mynews, a company in retailing industry which will we expect to suffer another 3 quarters of heavy losses? If you are a bank, would u want to lend money to them?

3) What will happen when Mynews cannot get borrowings and investors to take up shares? A rights issue will definitely ensue. Invest with great caution.

TheStar reported:

“We expect MyNews to see at least three additional quarters of losses. The gradual easing of the MCO will be inadequate to drive sufficient foot traffic for MyNews stores to break even over the near term. In addition, spending ability has seen an overall deterioration, ” it said

“Maintain Sell given MyNews’ lofty valuations and extremely challenging headwinds. Target price of 72 sen remains unchanged, ” it said.

Additional 3 more quarters of losses. With cash balance of RM5mil and cash burn of RM7m per quarter, Mynews should need rights issue or private placement soon.

Good years ahead
Last year, QCL managed to secure a cloud infrastructure contract to provide exabyte-size cloud hyper-scale supply and managed services for a leading Beijing-based cloud computing technology company.

The project has been completed and, according to Tay, QCL’s service for the project was well-received. Now, with full control over QCL’s operations, Kronologi will be more committed to the China market, which he expects to be among the largest contributors by country to group revenue and profitability.

“The vendors of QCL remain committed to Kronologi’s unique proposition and see value in our company. The core management team in China will continue to run QCL, but we will also be getting more involved moving forward. With this proposed acquisition, Kronologi as a group now represents the Quantum brand and range of solutions in the Asian region, including key markets like Hong Kong, Taiwan, India and now China,” he elaborates.

Nothing to be surprised about? That's not the issue here. We know it's going to lose money for the coming quarters as well. But did u look at the cash balance? Now only down with RM 5m. Soon, it'll need to call for a rights issue.

https://www.thestar.com.my/business/business-news/2021/06/25/micg-regrettable-for-listed-company-to-file-suit-against-external-auditor

MICG said it's regrettable for a listed company of such fame like Serba to sue KPMG. This sets a very bad precedent and definitely not something a listed company should do unless it has something big to hide.

ugh... another huge competitor from Korea as well. seems like more and more company want to get into this convenient store business

milionology, u posted the same link here 3 times. are u trying to promote your blog?

Lol Scammer6969 , if you want to discredit this stock for the purpose of buying it cheaper, at least use a better name. Do u think your comments has credibility with that "scammer name"? Stop wasting your time here by creating a new account just for to comment here.

For those who has doubts, please ask the management during AGM. Plus there is a recent article by Focus few days ago interviewing the CEO.

https://www.facebook.com/groups/alibabatradersharings/permalink/1684605435073193/

This article will give u a boost of confidence in the prospects of the company. The company which sold QCL to Krono will get Krono shares and will be a major shareholder. I can't figure out how this will be bad for Krono.

After looking carefully at KPMG's queries again, it seems to be the issues at hand are rather superficial.

1. Gave address of Co Sec instead of office address.
2. No reply from debtors on confirmation (happened very frequently in almost all audits, if you ask the auditors).
3. Using truecaller to verify owner of IT company. I have my reservations on effectiveness on using this as an audit procedure.

But let's look at the real picture.

1. Were the contracts genuine and payment made to SB?
Yes, because most of the debts have been recovered.

2. Do the clients and vendors really exist?
Yes, because SB received payments from the clients and vice versa.

So what's the issue here? The issue here is that the quality of SB's clients are bad. KPMG noted these customers are new and had low share capital. Several customers are in the same building. Well, let's be honest here. These contracts are awarded to cronies and to make things simple they just open offices within the same building for ease.

Kudos to KPMG for taking the extra mile using Truecaller to identify the owner. KPMG got a bit too adventurous but what did KPMG really uncover? KPMG can only prove that these clients are not worthy because they are cronies but they cannot say the financial statements are misstated.

Not sure if you guys would believe me this, but there are tonnes of many other listed and government linked companies in Malaysia that have cronies as well. Just that they spent a lot of money on nicer offices and covered up pretty well with good websites, etc. Haha.

RealMad, i believe so as well. As much as i want to think Serba became fradulent, i find KPMG's findings and process of audit verification are really funny. How can they use Truecaller and sight address wrongly, etc. Plus it's very normal to have address same as your Co sec actually. Shouldn't the audit partner know this if the audit senior doesnt??

In all honesty, there could be funny scenarios where share cap etc is low but that's how Middle east do business. There are cronies around for sure like Msia but it's not fraudulent. It's just awarding contracts to non-deserving companies lol

I wonder how will the new SOP of 2 hour limit in retail premises will gonna affect Mynews. Basically, not many will want to go malls anymore. No point paying for parking and petrol to just walk for 2 hours. This will severely affect sales indirectly.

disappointed. sold off everything

i think it's important to note here is that 50 CU stores are based on the situation a year ago, where management thinks that the Covid pandemic will improve. However, not only it did not improve, but it has worsened with surging all time high cases.

So, that forecast of 50 CU stores will no longer happen, as it's a corporate suicidal to invest so much at this point of time, where you will just incur more losses, with all the new tighter SOPs.

Still have a lot of naysayers despite good quarter profits mainly due to huge borrowings and low cash balance. This is not something that can be improved overnight. This sort of fundamentals will persist even after several quarters of outstanding profits.

So, if this is does not fit your risk appetite, this investment is not right for u. Investors here could be willing to wait for internally generated profits arising from dividend income from the JV and this is something we should respect.

Sslee, u seem to be very involved and interested to find wrongdoing by JAKS' Board, which is commendable.

But what made u so interested to do so, with just owning 2000 shares? for the sake of justice or previously u have been burnt and now it's time for revenge?

ur calculation is wrong. every store CU opens, it will incur losses due to capex required. it will breakeven after a few years per store.

meaning, every store CU open, the higher the losses it will have to incur in the coming quarters.

hi angrybird, could u share what made u want to collect Krono during this time? what are the potentials that u see?

MCO to be implemented in Selangor where all the current CU stores operate. Invest with caution.

https://www.thestar.com.my/news/nation/2021/05/04/covid-19-mco-in-six-districts-in-selangor-from-may-6-17

maybe a good company. maybe good prospects. but would rather wait things out a bit more first to see how severe is the next Covid wave. no rush at this moment as i do not foresee exceptionally good results in the next few quarters with only 1 -2 CU stores open at the moment.

problem is mynews is just like 7eleven. no excitement, in fact i think 7eleven has better reputation.

CU only 2 stores plus in the middle of severe pandemic with next wave coming. i don't see how it will be profitable in 2 years time at least. 99speedmart also take so many years to be successful, CU is going to need more time plus it's at a disadvantage bcz in the middle of pandemic right now, it may take longer

anyone still holding this?

seems like a lot of fake accounts bootlicking paktua's feet. most probably same person with many fake accounts lol

People these days are trading heavily by emotions due to the bull market.

When KYY asks to buy, they are smart enough now to sell. Probably KYY needs to reverse it's psychology and recommend SELL so others will BUY.

this stock is not a one-night show kinda counter which went up eventhough loss making like Airasia, AAX, Mynews, GENM.

this is a profitable company even in times of most severe Covid lockdown and strong management, with healthy cashflows. there are so much more room to climb looking at the attractive valuations.

Mynews is considered a risky investment at this stage. Better to wait out and assess for the impact of 4th wave Covid in the next 2 quarters, at least.

Con-stock? No dividends? How would u know for sure? Once IPP generate sufficient cashflows and Jaks become a cashcow, there will be dividends by then.

why distribute dividends at a time when they need cashflows to buy the remaining 10% stake? if they give dividends now, u should be extremely worried instead.

Sslee, i think almost everyone in this forum won't understand what u are trying to explain here. But it's fine, let me share my thoughts.

The reason why Jaks' accountant mentioned Q3 is correct because the corrective adjustment is done in the subsequent quarter. hence, the YTD 12 months figures are correct after this adjustment.

Jaks' accountant would assume that u would look at Q1 - Q4 published quarterly report figures collectively to arrive to the correct YTD figures, and not looking at Q3 solely. This is a common practice even for auditors to allow adjustments to be made correct as long as within the year. Anyway, the financial statements are presented for 12 months, not monthly.

Further the "misstatement threshold rule" by Bursa does not apply to anything below "Total Comprehensive Income", which are the "Owner" and "NCI" part. Hence, auditors are not concerned either. If the misstatement occurs above it, for instance revenue or cost of sales, an errata report must be published to Bursa.

Hope the above clarifies.

Thanks sslee. the reply seems appropriate and now i understand what is happening as an ex-auditor.

the MFRS has been constantly changing in line with the IFRS and even group accountants are struggling with different treatments for consolidation adjustments. takes a lot of experience and reading to keep themselves up to date.

sigh, adding more CU stores now will just increase expenses because it takes years to breakeven. plus right now, 4th covid wave is coming, we may need to brace for another bad quarter, or even worse because of additional set up costs of CU...

unless u are a super duper long-term investor for like 3 years

any thoughts on how the 4th wave will affect retail again?

everytime there seems hope, there is another wave coming.

let's be clear here. i'm not arguing with your prediction target price. i'm arguing about your facts.

can u pls show me where do u check the profit of family mart in annual report?

where is your source of CU opening 75 shops this year? based on news article it's only 50 (at a maximum)

BursaMaster121212, lol, what a joke.

family mart took so many years for family mart to grow. up till today we don't know how much family mart's profit because QL did not disclose in t heir annual report. they combined it with other business income. if dont believe, pls go and open QL's annual report or quarterly report.

where do u get ur info? pluck from the sky?

as of now, only one store is opened, the price went up way above it's fundamentals. real benefit to the company as a whole out of this venture remains to be seen.

management said will take several years to breakeven, so i guess traders are impatient. any good catalysts for CU have already been priced in last week.

why is disposing JIC for RM1.00 an issue when at the same time, u can dispose it's liabilities as well.

that's solely based on your opinion. but even if it's 2 years, it's going to be a tough ride. imagine loss-making quarters for the next 2 years before seeing profitability again. might as well put the cash into better use elsewhere and revisit again, perhaps 1.5 years later.

again i'm not saying it's a bad investment. long-term investors who have plenty of cash and can hold and wait for many years are welcomed to invest in mynews.

just that for normal small-time retailers, would this be the best use of your cash right now to maximize your profits?

anyone here got trapped with yesterday's surge?

MiaoMiao7, few things here. firstly, problem is, Mynews is still expanding it's existing stores. this is available in news articles and their annual report. until today i have no idea why management still put so much hope in mynews and not focus 100% on CU. they intend to open 100++ mynews stores this year. this is something that concerns me.

and how many people can buy and hold for 3 years? it's a good warren buffett talk but doesn't quite make sense in the current bullish stock market. impatient traders would not stick to one stock if it doesn't move up anymore. just look at dataprep, AT, fintec. loss making companies with potential too but now it's in the dust. only can blame the greed of people.

they will switch to other stocks and find opportunities, otherwise they will lose out in this rare bull run. 3 years is too long time to wait for many people when now is a bull run and can easily make money by trading in and out.

No one doubts about the potential long-term benefits of the CU franchise. The worrying part is when will it breakeven? 2 years or more?

Can i be assured that i can hold this stock comfortably without going through wild swings at the mercy of operators trading in and out by abusing the notion of "potential long-term prospects"?

If i buy at the peak, which is now, and the next quarter is another loss, do i hold or sell if the price falls below my cost? what is the right mindset to hold this stock for 5 years to fully unleash the CU potential?