Thanks OTB for the information. You mentioned that the financial stress will be disappeared in the mid of 2024. Can you elaborate more? Does this mean Yinson’s operational cash flow will turn to positive ? I am curious why they do private placement now if cash flow issue can be resolved in months. Thanks.

Positive cash flows, good dividend yield, consistent results for years and pretty clean balance sheet. not bad...

Growing revenue, stable margin, look like going to have a record revenue and profit this year, good dividend yield. improved receivables in Q3 vs Q2.. Not too bad other than growing inventories...

This company gives no dividend and every year has no shame to ask shareholders for more money.

The management just cannot be trusted. I don’t see this company much different from Serbak.

indeed

Interesting to note from Bursa announcement that the ex-CFO graduated in 1992 and he was age 37 when appointed as CFO. Did he get his diploma at age of 12 ?


https://klse.i3investor.com/web/corporatefigure/detail/P_2848_1191369953?id=5279-58033-2469599873

The CFO is still there..... Can you trust his numbers ? All learn from the no-shame master Najib, advised by the same lawyer... lol. Malaysian Institute of Accountants not taking action against the current CFO ?

I thought the quality of Serbak management is the lowest level we have seen, our AG just outdo them...

"in light of the evidence in support of the charges and to avoid a long and protracted trial" - our AG thinks a long protracted trial is more important than pursuing a fair judgement ?

""Furthermore, Serba Dinamik and the said executives were willing to accept the maximum amount of compound imposable by the SC," - So a criminal can decide the punishment themselves.. he even uses the word "Furthermore".. WTF. Shame on you AG. We don't need you screw the legal system !

AGC is abusing its power... shame on you AGC

The recent appointed independent directors may resign soon if they are not aware of this. Too risky to sit in the board with their reputation at risk.

I am yet to hear one court decision that in favour of Serbak.. Tomorrow the lawyer will fly to UK again.... come back quarantine for a while.. then claim he exposes to suspected covid cases, Mysejahtera color changes...he cannot attend court .. same tricks just to waste court resources to defer the cases.. lol.. that unethical lawyer should be banned from practices for court abuse

When you appoint a shoplot lawyer, this is what we have... he will find ways to stop/delay court process. Just look at what he did in Najib's case, it is the same tactic. It is a waste of resources. Just put all of them in jail, including the shoplot lawyers.

and who is behind the riot in Kazakhstan? lol

Indeed, the US has been staying in Korea and Japan since WW2, they have no plan to leave... lol

from a gain of 758 million to a loss of 185 million... still not considered material and factual ... amazing

hey guys, we are here to discuss stocks or news related to the company, this whole saga has nothing to do with race or bumi status. It is sad to see many will be losing their job in this critical time because of the unethical leaders. These culprits should be punished.

SC and Bursa can only act within their capacity. In fact they will always cite this as an excuse instead of strengthening the rules and guidelines to protect the interest and confidence of the investors. You need big sharks to make them change the rules, and big sharks only protect their own interest. This is the sad thing being a minority.. lol

The reason given by the chairman “biased regulatory prosecution” is funny. It was the same comment made by the previous chairman. He knew it before taking over the role. On what ground he believes that after he took over the regulator becomes unbiased ? Is the regulatory really “bias” in the first place ? show the evidence please ..

The new weapons nowadays are climate change, deforestation, democracy, and human rights etc. We are also a victim of the new game. Look at what happened to our glove and palm oil companies when they don't like you. India has a worse record than us in forced labour but nothing happen to them. The big countries will leverage on what they have to screw small countries as long as you are not part of them.

With so many accounting issues, it is Interesting to note that the CFO has not resigned. How long has he been working there

I think the new chairman can handle... as long as the issues remain non-factual and trivial....lol

"the duo said the requirements imposed by Bursa Malaysia on Serba Dinamik had prohibited them from fairly discharging their duties as independent directors."

- why the new chairman can perform the duties but the two can't ?
Answer : Because they are shop lot directors... lol

New chairman can handle SD's accounting issues ?

it will be funny if Bursa lifts the suspension and let SD drop for a few days because of the news then suspend it again...lol

This company has been quite rewarding over the last few years, I like boring small cap companies with stable earnings.

there are not many small cap stocks with good dividend yield left these days...

good quarter...

Kyy changes his view everyday. No credibility.

The improper use of the word "genocide" to achieve their political benefits in my view of a violation of human rights.

If you have a good and ethical government who serves people with heart and makes our life better each day, majority don't really care about the system.

I recommend Najib, Arul Kanda and Jho Low as their new independent directors. They are "experienced", have "reputation from their previous work life". and definitely "stronger figures". They will complete the team. Any shareholder here has any objection?

You can consider Rosmah if you need more female directors.

kfusjd, the reported nta is > RM1.05 , after you discount the questionable 1.9b inventory and 1.9b receivable, you left with ??? . If banks start pulling out financing, asking for repayments, projects will be suspended without cash, the operations will be interrupted. More problems will come ..

The new chairman is very smart.. he learns everything within 3 days, including accounting policies to come up with the views that KPMG is unreasonable.

Instead of getting independent auditor to clear their name, they:
1. Stop the process of appointing independent auditor (maybe the new chairman thinks EY is also another gangster, cannot bully them lol)
2. Appoint new independent directors, kick existing ones out
3. Appoint a legal advisor who himself involves in so many on-going legal cases related to 1MDB and LHDN. It is not clear he will be there to defend SD.
4. Sue the auditor

None of the actions above resolves the auditing issues. No annual report. they are just unwilling to open their book. They just buy more time. What does this tell you?

Why are they keep changing their CFO ?

The other thing I find it really amazing is that they change the financial year end to give the auditor more time to audit... wow so nice! Either KPMG is useless or the issues are so tough that they are not able to resolve it until today.

Kadier is a brave guy. He is buying more shares even after his two independent audit members (with accounting background) raised their concerns on the issues. I wish him good luck.

That 146.5 million investment income is coming from coupon and dividends as explained in note 4, the losses in life segment is due to fair value changes (note 6). The result could be worse if not because of realization of investments (note 5) of 49 million.

What is not clear to me is why they incurred a loss when yield went up. I thought life insurance companies have a long liability duration which should benefit from higher yield.

Whenever KYY buys, we should sell within a month. This is a proven sure-win formula in KLSE...lol

I3 should ban him from posting article, he creates unnecessary volatility in stock prices.

Stable and predictable results, no surprise, another 2 cents dividend... 5.7% dividend yield, nice!

Insurance companies should share Covid 19 costs, but hospitals must not take the opportunity to screw insurance companies like always..lol

I understand pandemic is not covered by most of the medical insurance plans, but Allianz made RM500m last year. As a shareholder, I would support if they set aside RM4m-RM10m (<3% of their profit) for this purpose until the fund is fully exhausted. There are more than 30 life/general insurance companies in Malaysia, the combined fund can be quite meaningful.

This is once in a life time event, everyone should help.

Companies will improve staff welfare when they are in a better financial position. It is a process many companies have gone through. The same applies to a country. The developed countries are now criticising our labour practices, data handling, deforestation because of our palm oil etc while they enjoy low prices from our products. They have forgotten that they also had many dark sides in the past when they developed their countries. They demolished all their forests for developments and now want others to keep theirs.

We will see more this kind of reports in the future, they will make it hard for Asia to compete.

Cash is going up, ytd cash flow from operation is also up from last quarter. Revenue is lower due to lower selling price, but margin is improving..

Fifth consecutive quarter of 2 cents dividend.. Nice!

Did ALP get 1.5 million shares or 15 million shares ?

Can't understand why they have to wait till Nov .... #&$^%^$. They paid dividend in July last year.

Solid Q2 performance. Thanks for sharing the analyst briefing slides.

Slide 25 shows that investment income this year dropped by almost RM476m (as compared to 2019). The breakdown indicates that most of the investment loss is passed to their par and investment linked policyholders and not the shareholders, this explains why the life insurance business is doing fine despite much lower investment return as they are not taking excessive investment risks in their non-participating and shareholders' fund. Interesting to note that they also don't have the negative impact of lower interest rate. The asset/liability management must be very done. The main concern is life new premium dropped 46% in the second quarter from 167.8m to 90.8m due to MCO.

Their general insurance business is very stable, hope they continue to enjoy lower claim in 3Q as many still working from home.

Hope they give 1 cent special dividend this year...make the total dividend 7 cents.

I like the part on the outlook... "Despite sales order flows from customers remain consistent and sustainable....." there is no demand issue.

This company every 3 years their net profit reduces by half. Keppel infrastructure trust also invests in regulated assets, they do very well. YTL power really needs a new management team, their current business model is not working.

The combined ratio in 2Q was more than 100%. Tune has the advantage over other companies with travel and personal accident insurance because of Air Asia. Travel and personal accident insurance suppose to have low claim ratio. They don't seem to enjoy that even before covid. Their expense ratio is more than 50% of net earned premium... it is way too expensive to operate.

Tune actually looks more like an insurance broker and asset management company. They make their money from "fee and commission" and investment of RM720 net equity...LOL