lol Mabel... thats not an answer..

Again pls..

Question : Based on what logic downstream business not affected by oil price?

@ggcomliao -- u talking about you nuts in your pants?

@Windy1974 - can see you are not taking sides.. but facts are needed like what you said.. if not, too much misinformation.

for me.. i have worked with many auditors during annual audit process...cant believe some of the things posted here too.

@Windy1974

Dont think Mabel will reply to your question clearly..

Because of 1MDB..

Big 3 can close shop

1) KPMG
2) EY
3) Deloitte

The potential ending doesn’t even fall into speculative band… market has responded by dropping 70%.

There is 0% possibility EY will dispute KPMG findings…

Later can appoint Deloitte to audit EY findings, let this matter drag on and on.

The writings are on the wall, whether u choose to see or not, it’s your choice

josephn Lol, that is impossible, Dato Karim and big shareholders will cry the loudest, not you

Remember they purposely drive down the price.. this is the critical point as they know the value of the company is higher.

Take private:
1) Break up the company and go separate listing under IT, O&G, etc
2) Keep the company intact and relist in 2 years...

All benefits Karim

Conspiracy theory

SD and KPMG are working together to drive down the company price. Later SD will announce taking this company private at RM0.30 per share.

Who benefits? haha

lol to the conspiracy theorist Orlando Oil.

It’s A to B to C in this situation.

By the way, SD chose to blow up this issue in public. KPMG only reported this issue internally

Pure nonsense.. auditors never ask for change in reporting period. That’s why they put the whole team in a client place working overtime if necessary to complete the work.

SD wanted to change the reporting period to buy time.

KPMG has no authority to ask for change. PERIOD

Every auditor that goes in for annual audit works with the company finance department. Can say they are parked there for days going through documents

Once discrepancy happens :

1) solve with finance department
2) unresolved, goes to company management
3) still unresolved goes to audit committee
4) no solution, won’t sign off

This problem with SD started wayyy back during audit months ago.. to claim they didn’t know why KPMG goes directly to audit committee is hilarious

Piranha888

Auditors always win at the end.

LuckyBertuah
Koyak dah ke serbadk?if want to koyak,kasi koyak besar la...harga seposen ke...if dulu,need RM320,000 to hold 2000lot at Rm1.6...if now go to seposen,just need Rm20k to hold 2000lot..if really go to seposen,i will buy 2000lot & hold...ding dong ding dong until case settle..during thats time im live in imaginary life holding RM320K stock...Hidup sukar,at least dapat la hidup dlm mimpi yg indah

Haha..once EY confirms KPMG findings.. no way can go back to RM1.60.

Stating the facts that this is fraud accounting are not poison.

Poison are people still advocating buy call.

Buy now and hope you are not in the room when the sh1t hits the fan.

Its definitely ok if 50/50 % chance either way.

With Fraud accounting, its heavily skewed towards further downtrend. Then its not ok


SincereStock thanks for telling me ya leno, so now 0.635 kalau fraud jadi 0.15 = lose 0.485
tapi kalau no fraud 0.635 jadi 1.60 = win 0.965

macam ok wor

Gerrardo We not doubting the auditing process, but the KPMG process.

If they are so reliable, why they messed up with 1MDB?

1MDB had 3 auditors.. EY, KPMG and Deloitte. All fined.

EY and KPMG was terminated by 1MDB.. they didnt resign.

This doesnt prove the auditing process is flawed rather 1MDB is the problem

ggcomliao Bill huang here decides to speak on behalf of kpmg, you're just saying what's on the book, theory everyone also knows, dont need state sop

I think you better read my posting again.. im defending the auditing process.

When did this become an auditor problem? They are doing their job and reporting their findings.

Same applies to PWC, EY and all the auditing firms.

To those asking why KPMG as their auditor, kept silence

Do understand the role of auditor first before asking this irrelevant question.

Auditor is engaged and paid a fee by the client to audit their books.

If discrepancy occurs, report to directors of company. If no action taken, report to audit committee.

KPMG in this case, has no position to report to police or make any press statement, They are just an auditor checking and reporting back to shareholders.

Auditing is a highly regulated and conforms to IAS/IFRS standard. Dont need a rocket scientist, just someone to trace/confirm/verify company transactions.

Actually its too easy to verify transactions in this digital age. KPMG can always engage company search with Brad & Dunstreet and many others apart from getting KPMG Bahrain to do the checking. EY will do the same process.

Either you have or you dont have.

I agree.. EY will confirm KPMG findings.

I am personally eyeing this counter to invest. Waiting for EY to confirm KPMG findings.

This is a good horse, just a bad jockey.

There is no bottom if verified KPMG is right,

The issue here is why this is promoted as a milestone of the company??

The elephant in the room is Fraud Accounting.

Why keep promoting this counter by throwing out all these smokescreens?

lapidmalik90 So much for chatbot. Called to appear in popular media alongside Piers Morgan and also asked to debate with people. Even normal human being sometimes cannot debate

Hahaa.... Sophia the robot is just a chatbot with a face.. This also promoted as a milestone of the company??

Why are there still buy call on this counter? Possible Fraud Accounting issues resulting in auditors not signing off accounts are never solved.EY will confirm KPMG findings.. then how ?

Hey Mike

Just got back from Myanmar. Was posted there temporarily to start a new venture. Cant access this forum when I was there.

Nice seeing you have your own platform here with so many followers. Great job my friend.

By the way, belated Gong Xi Fa Cai and may you ride this Fire Horse to maximum prosperity.

Mike.

Ok. Noted

Hi mike.

Got back from japan last week. Nice 2 weeks holiday stress free.

Hohup worth a punt?

Thanks

To all forumers, I wish you all a very Happy new year.

Just got back from my 2 weeks holiday in Japan.

Happy new year to you, Mike. Thanks for highlighting stocks to me but I was away and try not to invest in KLSE during my holiday.

Will buy in Inari-Wa on Thursday.

Thanks again bud.

Good Morning all

I don't think Calvin left this thread. Rather he may be taking a sabbatical.

I feel its unfair on him when many forumers are directing their questions and anger to him, at times belittling with sarcastically laced comments. We are all shareholders who doesn't participate in daily running of this company. His role is to inform us and not to defend the management of PmCorp.

With Fed tapering soon and unavoidable, RM will be weakening and providing a good boost to USD derived income of PMCORP.

Calvin

Good morning to you.

I would like to mirror ksng0307 comments again to you. Please don't bother to reply to his postings. It only takes up your valuable time.

All his points are based on assumptions and quoted "Kukuman" assumptions. Basically he is assuming someone else's assumptions.

I may not have highlighted this points before:

USD Denominated Export Sales

For export based company, the strength of USD vs MYR has been an added bonus in boosting bottom line. I foresee this will remain until Q1 2014.

Though miniscule, this effect will have good boost to PMCorp business model as they rely mainly on local MYR purchases and gain USD in revenue.

Cheers

Mitras

Are you part of PMCORP team? I would like to know who left together with CFO and you mentioned he was fired. Is this fact or fiction?

Pls share your thoughts on this

Awaiting your enlightenment

Yes. All boils down to strong Credit management.

But in reality, it all depends on management risk appetite. For a small company, the risk may be too big and none want to be responsible. Older management style are generally more conservative especially dealing in FMCG products. Since we can see PMCorp is moving away from the safety of OEM manufacturing, it may take time for them to increase their RISK appetite.

All said, only good things will happen in PMCorp business model. Time is on their side and market is as much as they can explore globally.

Cheers

Tsurukame

You hit PMCorp business model right on the bullseye. Bravo

NFI made chocolates are for masses. Low price, easy to buy, small packaging and "more bang for the buck". Therefore, volume is critical and factory running on full shifts is a good sign. I heard that they will increase another 2 production line in their Shah Alam plant. ( this is market rumor, maybe Calvin can check further info).

The next step for Pmcorp is to shed its contract manufacturing business and concentrate on building its own branding business globally. OEM business doesn't pay well and only serves to generate paltry revenue and profits.

@ Aunloke

Yes, you are correct.

We can control most costs.. except Sales and distribution ( which Freight and haulage costs eat a big chunk out of this).

@ Calvin

My opinion, DKSH business model is not similar to PMCorp. They are pro-marketers with strong extensive network globally.

PmCorp is a fledgling and its share price is reflective of their stature.

Another good company to compare with PMCorp is Beryls Chocolate.

@ Aunloke

Sales and Distribution cost generally increases with increase in sales. More sales means more shipping cost ( freight, haulage etc)

What I think you are referring to is controlling Cost of Sales which includes Depreciation, raw material, factory fixed cost. This will contribute to Gross Profit. This cost will be reduced proportionately with maximum usage of machineries. A factory running on 3 shifts is expected to have very high Gross Profit and ultimately higher Net profit as compared to running 1 shift.

For seasonal items like Chocolate, peak demand is Oct - March.

Cheers

Hi Mike

Thanks to you for taking time to show Inari.

Appreciate this so much as I know you must be a busy man.

I am in on Monday.

Cheers

Mike

Thanks for your INSAS recommendation. I will buy in some Inari on Monday. Hope it pays for my CNY holiday trip.

Cheers my friend

Mike.

Good day to you.

Lets focus on counters instead of individual. Hope you can hear my humble advise.

Awaiting your return from Europe trip. Myself will be holidaying in Tokyo/Kobe this year with my family.

Be safe and waiting for your recommendations upon your return. Don't forget to set an alarm for Texchem share to start appreciation in Q2 2014.

Tewnama.

Today seems like I write too much....

I am from food line, trained and worked in this line from day 1 that I joined the work force. So my long term investment only in food counters.

Most food related counters are trading at max price and I hold most of them only for dividend purposes. In terms of capital appreciation, not much companies left for me to consider. Some food related penny stocks are not worth considering except PmCorp and Texchem which has plenty of avenue for further capital growth.

Cheers

Posted by tewnama > Dec 6, 2013 01:21 PM | Report Abuse

by the way, calvin ada kata Dr Neoh is 3 times more wiser than Mr Tan. macam mana u fikir?


If this post is directed to me, sorry I have no comment. I don't know them. :)

I only invest in company dealing mainly in food related business for long term and dabble a bit in other companies. Recently, thanks to MikeKong, his Insas recommendation made good money for me, holding period less than 1 week. Thanks again Mike.

I must clarify, I am a small investor only. I try to keep stocks long term to gain dividend and capital appreciation. Time frame is no issue for me.

Tewnama

Invitation extended to you to clear my name. You can separate have a teh Tarik session with Calvin. He stays too far from me .

I travel to KL also.

No wine is ok.. teh tarik also I can accommodate. :)

This is not a poultry stock unlike PW. They started with business in fishing industry, feed industry and later diversified into palm plantation and poultry.

Main contribution comes from Fishing and Feed industry. Tightly owned by Chia family members.

Hi mktwatch

We all try to chip in information relevant to this counter.

Myanmar is the last unopened market in Asia. Many corporations are trying to enter this market now. Im quite surprised that Tango is already in as I know, to enter requires substantial amount of lobbying or "connection". Also, financial markets and mechanism are non-existent in Myanmar for now. Many grey areas exist as the Government themselves has not set any fixed rules.

I sincerely hope Tango can leverage on their headstart in Myanmar. If they push on relentlessly, the future is indeed bright.

To ANBZ

As you are not aware of Myanmar market, I can share with you. Myanmar is 1 of my market.

Only starting this year (2013), many importers are granted permit to import foodstuff.

With a population of 69 million, its almost the size of Thailand. What differentiate Myanmar and Thailand can be equated to a grown man which is Thailand and growing man in Myanmar.

We had done many census in Myanmar and the pent-up demand is huge from their population in all types of products. If and a BIG IF Tudor can establish itself as one of the earliest player, the market share and profits will be big. Price sensitivity in Myanmar is high and low price items are preferred.

I think Tudor just entered Myanmar not more than 6 months.

For price comparison, Tudor chocolate bar is selling at 1,050 kyats ( 180gram). Yesterday cash currency rate is USD1 = 982kyats. In comparison, Van Houten is selling 1,420 kyats.

Greetings to all.

Just back from a business trip to Myanmar with visits to Mandalay and Yangon.

Pleased to announce Tudor chocolate presence in CityMart ( Myanmar equivalent of Cold Storage chain). Citymart has 11 outlets in Yangon and 7 in Mandalay.

I talked to some store girls and feedback is positive regarding Tudor chocolates. Among all chocolates in Citymart ( beryl, lindt, Van houten), its sales is highest.

This is a positive step for Tudor in a country opening its doors after decades of military rules.

Good job to PM CORP and hope they capitalize in Myanmar where not many chocolate players are there now. For example, Coca Cola already set up factory in Myanmar, Pepsi still not in market. PM Corp must make use of its early entry advantage.

Mike.. TP for Hommeritz at 1.05 is good. Im a happy man

World Cup.. Starts June 12, ends July 13. Plan to go Brazil?