Even Robert kuok of transmile was shocked by the news .

No point to simply speculate. It is auditors' problem if they can't perform their duty but there is no mention of that in the press report. There was no selling by transmile founder. It is pointless trying to calm the people here. What is important now is how the institutional funds will react tomorrow.

In Transmile's case, nobody knows anything before it happened. Why would Karim have told the whole world about this before announcement ? Not logical. Anyway, as I have said, there is nothing we can do now other than sleeping.

Everyone wants to hear Philip's opinion, but he is not saying anything. Only insiders and the auditors know what is happening. If you have any friends working with KPMG, better ask them. Don't wait here.

KPMG is the largest accounting firm in the world. They have offices all around the world. Overseas audits are done by local offices. Hence, "cannot travel" is not logical explanation.

Don't need to lose sleep over this. Tomorrow will know. It will only drop substantially if institutional funds are selling because they are trained to handle situations like this. They are not dealing with their own money so they will not be emotional about it. If they decided to sell, it is likely to go limit down. Retailers here have no say no influence on the price tomorrow so we don't have to lie here.

Why last minute change financial year end to June on 24/5/2021 ?

Must stay cool and think. If small audit matters, need to make bursa announcement and panic everyone? Why only decide to change financial year in early May ? However, no worries if no problems, institutional investors won't sell. Retailers only has 13.5% press down the price.

If it is accounting fraud, you can't blame philip as he is not accounting trained. Continuously building up inventory and receivables with 60% of businesses in Middle East where there is no transparency should be a heads up for everyone especially the accountants. Inventory is especially vulnerable as stock take is the only mean of authentication by auditors.

Don't come here cry father cry mother, you need to take care of yourself. Nothing is guaranteed to win. When something is too good to be true, it is probably not.

External auditors are business entrepreneurs, they will tolerate minor discrepancies. They will not raise issues unless absolutely necessary and they are usually right. When auditors insisted on answers that management refused or unable to provide, something is most certainly wrong somewhere. However, one strange thing here is that the company actually announced the unsettled queries by auditors but refused to give details to calm investors.

KLSE investors are very sentimental and easily affected by unpleasant news. News of Serbak having issues with external auditors will cause a panic.

As expected, the new companies are injected into PEB at full valuation using DCF valuation. At current market price, the vendor made more than 10 times their investment costs invested in early 2021.

Given the less than full qtr operation of the power plant as well as the downtime due to boiler problems and the profit sharing of RM30m, full year projection is still within 20% range of DK's estimate of RM196m. Bear in mind that management only guided RM80m annual profit sharing from the power plant.

I have information that the JHDP was having initial problems with one of its boilers in late february. Otherwise, the earnings from Vietnam would be much higher.

Sslee Just tell me how to fund LSS4. Once LSS4 contract signed if cannot deliver than LAD again.
21/05/2021 11:19 PM

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Are you sure about LAD ?? The operators of solar farms recruit their capital investment thru sales of electricity. If delayed, no income but certainly not LAD.

我不便透露DK在群组的建议。我只能说群组对DK非常感恩。他的建议让群组从这次的波动中避险获利。DK是个好人。他的离开是i3 的损失。

这是 DK 最后的文告 ：https://klse.i3investor.com/blogs/Jaks%20resources/2021-02-11-story-h1540251298-Everyone_Good_Bye.jsp

你们赶走他，现在股票跌了又希望他指引。你们只能靠自已了。

Point 7 seems to suggest no inter-conditionality for SOA. If so, the warrants will continue to exist and will be adjusted according to the warrant deed polls. The exercise price will be adjusted downward and number of warrants may be increased. It could actually benefits the warrant holders given the lighter outfit. The warrants will not turn toilet papers.

Please refer to the proposal announcement.

6. APPROVALS REQUIRED
The Proposals are subject to the following approvals and/or consent (wherever applicable)
being obtained:
(vii) Warrantholders at a court-convened meeting for the Proposed SOA;

csan, your information is incorrect. The restructuring cannot pass without the approval of the warrantholders. You need 25% to veto the warrant resolution instead of 10%.

Thanks for the clarification. Can the offer be raised during the CCM ?

Otherwise, the EGM has to be adjourned or rejected in order for higher offer.

You need a board meeting to change the offer price. Cannot do it during EGM.

Can you still negotiate during EGM? EGM is for voting only with some opening introduction by management. If they agree to higher offer during EGM, they will have to adjourn the EGM and call for another EGM later. Therefore, those who wish for higher price must meet the management and negotiate before the EGM.

Those who had visited Jaks forum surely know that DK66/DK never collected any subscription fees.

His comment was a response to a personal question from me. I just thought it is good to share here.

Since you prefer to think that he has misunderstood the relevance of new share issue price of RM1.07, I will not reveal his further comment. For your information, he was a professional auditor.

I don't want to spoil the mood here. Good luck.

Hi, I m a member of DK private chat group.

He advised me to be careful of the followings;

1. Under PN16, the company to be injected must be profitable to be accepted for approval by the securities commission (SC). If failed to get SC approval, the company may be delisted and the trust money per share is currently around RM1.01 only.
2. reNIKOLA was formed in April 2020, a brand new company without profit records.
3. The valuation of the assets to be injected. If fully valued, the market price will drop rapidly as the new shares are issued at RM1.07 only.
4. Other than Lim Beng Guan and his company pitahaya, other PACs own around 24% which are, except one with over 5%, free to sell without notice after the completion of MGO.
5. Unlike other solar companies which are mainly involved in solar EPC jobs, reNIKOLA is primarily a solar IPP with IRR of less than 10%. Upon full valuation, this company is basically just a dividend play.
6. reNIKOLA has 250MWac which is still undeveloped. 250MWac will require around RM1 billion investment capital. Large fund raising exercises maybe called in the future.

The PACs has only paid RM2.7m in excess of the trust money to Rosali & others to take control of PEB. Even if it fails to get SC approval, it can still recover the bulk of their payments (95%) through the trust account. Perhaps they have already locked in huge trading profit recently ?

Just sharing a word of caution not meant to create fear. Good luck.

When someone gives opportunity to buy cheap, don't wait for others to buy first. Otherwise, don't cow bei cow bu later.

RM 1 ? that's like tomorrow. Add another 0 behind is more like it -> RM10

Dayang's 60% subsidiary, Perdana, will also benefit

Now is only the beginning of up cycle for malaysian oil services companies. PH needs more dividend from petronas. Petronas has to pump more oil. There are more than 200 oil platforms in Sarawak. These platforms were not properly maintained over the last few years to save costs. Platforms must be serviced. Dayang has monopoly in sarawak water. Imagine how much $$ dayang can make.................

Boss sold all already, this stock will fly

You don't understand IRR ??? lol

Nemo -> Whale

https://klse.i3investor.com/blogs/righton/199319.jsp

https://klse.i3investor.com/blogs/righton/199290.jsp

https://klse.i3investor.com/blogs/righton/199291.jsp