leno,

I did not calculate the theoretical WC price when the share price is 83 sen.

Yes, the theoretical price of WC is indeed 35 sen if the share price is 83 sen.

If you are a male, I will call you a cunning-linguist.



leno Sslee and Contrarian please take a serious note here.
Based on Black Asshole diagram,

If WC is 35 sen, then mother share should be 83 sen.
Meaning, mother at 91 sen is far over-priced already.
Sell all, and swap to WC instead.

Again, this is also not leno cakap.
Psai yang cakap.
06/08/2021 12:30 PM

trum,

TF is just working hard to maximize the LTIS (free) shares to be issued.

"The Company will not receive any proceeds pursuant to the issuance of new AAGB Shares to the grantees of the SGS, as such grantees will not be required to pay for the new AAGB Shares to be issued to them under the SGS".

And it will be issued after the RCUIDs exercise.

Supporters just need to buy the LTIS shares at 0.75 and TF will gain between RM368.8M to RM409.5M just be exercising the LTIS and dumping those shares in the market.

That's what TF meant by 'not wasting a crisis'.

Maximum Subscription
Max LTIS Proceeds Profit: 10% x 5.46B x 0.75 = RM409.5M

Minimum Subscription
Max LTIS Proceeds Profit: 10% x 4.917 x 0.75 = RM368.8M
= RM368.8M profit for TF & Co.



trum Tony said Don’t Worry. Have faith in AA management.
And you all must believe in AA management who works hard 24/7.
06/08/2021 11:34 AM

leno,

Updated table below.

The theoretical price of WC is 0.65 when the share price reaches 1.21

Black Scholes yang cakap.


Sample inputs and outputs using the traditional BSM (non-dliutive) model for Insas WC:

Volatility: 64%
Stock Price: 0.88
Strike Price: 0.90
Interest Rate: 2.62%
Warrants/share: 1
Days to Expiration: 1150

Snapshot @0.91 __Calls
Price ___________ 0.394
Delta ___________ 0.733
Gamma _________ 0.328
Theta ___________ 0
Vega ___________ 0.005
Rho ____________ 0.008
Elasticity ________ 1.64

Stock Price ___ Theoretical Warrant $ __Time Value
0.08 _________ 0.002 ______________ 0.002
0.29 _________ 0.047 ______________ 0.047
0.49 _________ 0.141 ______________ 0.141
0.70 _________ 0.265 ______________ 0.265
0.90 _________ 0.409 ______________ 0.409
1.10 _________ 0.566 ______________ 0.362
1.21 _________ 0.651 ______________ 0.341
1.31 _________ 0.734 ______________ 0.324
1.51 _________ 0.908 ______________ 0.293
1.72 _________ 1.087 ______________ 0.268
1.92 _________ 1.271 ______________ 0.246
2.13 _________ 1.458 ______________ 0.228
3.00 _________ 2.276 ______________ 0.176
3.50 _________ 2.757 ______________ 0.157
3.75 _________ 2.999 ______________ 0.149


leno Remember :
If mother shoot up to RM 1.21
WC will shoot down to 1 sen.

Ini bukan leno yang cakap hor.
Raider yang cakap.
06/08/2021 10:40 AM

pearlwhite,

Please do not rush. Loans & borrowings already RM3.975 billion

Need to distribute over LLC and L.L.C companies; left-hand right hand companies; and plants and sites that do not exist.

Changes in share cap and loans & borrowings

__________________ 31/12/16 _____ 31/3/2021
Share capital _______ 531.80M _____ 2,291.51M
Loans & borrowings __ 639.66M _____ 3,975.42M
Total ____________ 1,171.46M ____ 6,266.94M


Cumulative Rev from 25/5/2016 – 31/3/2021

Malaysia _______ 5888.584M ... Petronas Chemical, Methanol, Carigali, Gas
Qatar __________ 4601.051M ...Process Dynamics, Pavilion, Halul
UAE ___________ 3380.402M ... New Thunder, Sum tech, Block 7, FDDS
Bahrain ________ 1756.658M ... Lata, Regno
Saudi __________ 1201.493M ... Midad
Turkmenistan ____ 721.542M ... Turkmengas
Indonesia _______ 613.514M ... Pilar
Oman __________ 580.59M ... Revenue Int
Kuwait __________ 224.697M
Tanzania _______ 194.809M ..... Sufini
India ___________ 60.028M ...... Captive, Analog
Uzbekistan ______ 40.33M ...... Hazarasp
UK ____________ 28.323M
Laos ___________ 20.99M ...... Nam Taep
Sri Lanka _______ 16.7M
Kazakhstan _____ 1.789M


pearlwhite .

Wow! Your news is EXACTLY THE SAME AS MINE.

Except it sounded like this.

latest news. draft independent audit report presented to authorities. the report confirms KPMG's issues and continues not to be resolved. pending authority to ask further question before finalising the report.


Boon Han latest news. draft independent audit report presented to authorities. the report is positive. pending authority to ask further question before finalising the report.
03/08/2021 12:31 PM
03/08/2021 12:46 PM

i3lurker,

In China, family members only pay the cost of the bullet that was used to execute a criminal.

There is no "gun rental" charge.



i3lurker I actually remember a "Kisah Benar" from Big 3 Firm

Big 3 charged "Computer Rental" to clients on top of/in addition to audit fees.

100% of all clients asked what is "computer rental"?
Big 3 said, ohhh, you rented the computer from us when we used the computer that you rented from us [its at Big 3 office] to type the Audit Report......
yup
all Big 3 staff knows about this............
btw all paid or you dun get your Audit Report.......

Posted by PSAi3alert > Aug 2, 2021 5:55 PM | Report Abuse

i3lurker,

That's not ethical when paper and printing costs are charged to the client. Can we settle with print-to-shredder?
02/08/2021 6:02 PM

i3lurker,

That's not ethical when paper and printing costs are charged to the client. Can we settle with print-to-shredder?


i3lurker PSAi3alert

you are raising a very very irrelevant point
in faith based auditing, you are NOT supposed to send out confirmation letters.

You are just supposed to sign the Audit Report and pocket your audit fees and do quiet enjoyment of RM600,000.00 bo0m cha chi chi cha b0om, b00m


Posted by PSAi3alert > Aug 2, 2021 5:39 PM | Report Abuse
--->>> How difficult is it to locate the Finance & Admin Manager, Sabeena Beevi Ramla, to confirm the RM546.778M receivables?
02/08/2021 5:43 PM

pearlwhite,

Since you are an expert in faith-based auditing and special licensing, can you please help with today's article in FreeMalaysiaToday?

https://www.freemalaysiatoday.com/category/nation/2021/08/02/stories-of-rm4-5bil-audit-discrepancies-untrue-says-serba-dinamik/

In an interview with FMT, Mohd Abdul Karim Abdullah said he wanted to set the record straight on the company’s recent auditing issues.

“Everyone has read the information wrongly, the RM4.54 billion consists of items that shouldn’t be added together. You cannot add costs and revenue together, which is how the figure has been derived. This goes against financial literacy.

--->>> In Tanzania, the Chlorine Chlor-Alkali plant in Msufini area that was supposed to be built in 2018 never happened
--->>> RM111.113M was spent for the investment in the project (costs)
--->>> RM194.813M was recognized as receivables that will never be recoverable (revenue)
--->>> Shouldn't RM305.926M be written off?
--->>> Please educate the financial illiterate

“Perhaps, people are intentionally trying to sabotage us by exaggerating the numbers. We are not ruling this out,” he said.
“This put the company, its institutional investors, normal shareholders and 7,000 staff members at risk,” he said.

--->>> The latest annual report stated staff size of 1,725
--->>> How many staff members are at risk? 7,000 or 1,725
--->>> Who put them at risk?

Karim said large companies had thousands of staff and receptionists may not know everyone in the organisation. Subsequent checks by Serba Dinamik confirmed the details of the staff member.

--->>> Revenue International LLC has only 4 person in administration, the rest are cleaners.
--->>> How difficult is it to locate the Finance & Admin Manager, Sabeena Beevi Ramla, to confirm the RM546.778M receivables?


pearlwhite .

:thumbsup

I also very fedup try to help them. See them so pitiful and begging for help.

Everyday I say good thing to SD just to make sure they can make it thru.

siaokar Dont treat anyone in here seriously esp. those double or triple posts accounts.
Just see them as losers stuck at 5 figures loss in this counter.
02/08/2021 5:03 PM

He talked about exaggeration. Annual report stated staff size of 1,725. Now 7,000 staff members at risk?!!


“Perhaps, people are intentionally trying to sabotage us by exaggerating the numbers. We are not ruling this out,” he said.

“This put the company, its institutional investors, normal shareholders and 7,000 staff members at risk,” he said.


JJchan 4.5bil Discrepancies!! Karim is as confused as us.---He said Cost and Revenue "discrepanies"
DonT mixed---So what is discrepancies, my interpretation " something Funny "

Cost has " something funny" ----Revenue got something funny---But Karim said " Cost funny"
cannot be Mixed funny Revenue------I think Karim is Very Funny----He made this funny messy
and he doesnT know why it is funny,.
02/08/2021 3:00 PM

Leno, no worries.

Was just curious when I saw paragraph 2 of KYY's blog

https://klse.i3investor.com/blogs/koonyewyinblog/2021-07-11-story-h1567924222-Why_should_investors_get_out_of_the_stock_market_Koon_Yew_Yin.jsp

"...and Muhyiddin became the PM by the back door. Currently he is seriously terminally ill with cancer in KL Hospital. Apparently, he has pancreatic cancer."

and saw a recent picture at:

https://www.malaymail.com/news/malaysia/2021/07/22/muhyiddin-attends-malaysia-berzikir-programme/1991891

Leno,

I have a medical question for you.

Oral rehydration therapy (ORT) is the default choice of treatment for 'backdoor' (diarrhea) problems. Under what conditions will intravenous antibiotics be administered for selected risk groups such as people with immunodeficiency?

One of the side effects of chemotherapy is hyperpigmentation (darkening) of skin colour. PRRT can cause depigmentation (lightening) of skin colour

What other treatments or medications can result in visible depigmentation of skin colour?



leno There is the problem here.
By end of august, u will know who to trust, but u may be too late to buy Insas-WC.

Leno is the OLDEST Oldbie in investment forum.
Leno reputation is undisputable.

Leno retired from medical profession (doctor) at age of 39 years old !!
Now 50 already.
Trust Leno.
29/07/2021 1:58 PM

LTCM's collapse was due to the products or technologies that they have developed. Math was not the root cause.

LTCM could have diversified into mangoes and nasi lemak and condoned F words in townhall meetings. Thus the failure.



i3lurker never forget Black Souls bankrupted LTCM


///Pricing of warrants and call options is a math problem and has been solved using the Black Scholes model.///
01/08/2021 3:27 PM

You will lose in roulette if you think of it as a gambling theory

Roulette is a math problem that has been solved

Formula here: https://arxiv.org/pdf/1204.6412.pdf




stockraider U NEED TO UNDERSTAND GAMBLING THEORY B4, U TALK ABOUT LEVERAGE LOH!

LET SAY U GO GENTING & U BET ON ROULETTE NUMBERS...THE PAYOUT IS 36 TO 1 LOH!
THAT MEANS IF U WIN, U WILL GET 36 CHIPS....OUT OF 37 NUMBERS ( 0 TO 36).

THAT MEANS THE HOUSE ADVANTAGE OVER US IS 2.7% OR 1 DIVIDE BY 37.

Warrants and call options both have exercise price, expiration date and option price

Call options are issued by market makers and have short expiration dates. In Malaysia call options are also named as warrants

Warrants are issued by the company, have long expiration dates and have dilution effects

Pricing of warrants and call options is a math problem and has been solved using the Black Scholes model.

Equation can be viewed here https://miro.medium.com/max/527/1*HV_I82cyzFtmiZoSaBechA.png

Sample inputs and outputs using the traditional BSM (non-dliutive) model for Insas WC:

Volatility: 64%
Stock Price: 0.88
Strike Price: 0.90
Interest Rate: 2.62%
Warrants/share: 1
Days to Expiration: 1155

Snapshot @0.88 __Calls
Price ___________ 0.394
Delta ___________ 0.733
Gamma _________ 0.328
Theta ___________ 0
Vega ___________ 0.005
Rho ____________ 0.008
Elasticity ________ 1.64

Stock Price ___ Theoretical Warrant $ __Time Value
0.08 _________ 0.002 ______________ 0.002
0.29 _________ 0.047 ______________ 0.047
0.49 _________ 0.141 ______________ 0.141
0.70 _________ 0.265 ______________ 0.265
0.90 _________ 0.409 ______________ 0.409
1.10 _________ 0.566 ______________ 0.362
1.31 _________ 0.734 ______________ 0.324
1.51 _________ 0.908 ______________ 0.293
1.72 _________ 1.087 ______________ 0.268
1.92 _________ 1.271 ______________ 0.246
2.13 _________ 1.458 ______________ 0.228
3.00 _________ 2.276 ______________ 0.176
3.50 _________ 2.757 ______________ 0.157
3.75 _________ 2.999 ______________ 0.149

i3lurker,

On the contrary, I'm inclined to think that it will be a very interesting case if it were to proceed to trial. High millions of legal bills interesting,

The facts are not important. The process of obtaining the facts will be on trial.

The plaintiff will make the following pleadings:

- KPMG can only seek confirmation from the addresse provided by Serba, not the actual addresse

- Raja Bomoh is the only authoritative expert witness to confirm the existence of sites and plants that do not show up in satellite images

- Cleaners will testify that mops and toilet bowls are indeed rotating equipment and pumps

- A letter issued from a Middle East country's Minister of Agriculture to state that a company, run and operated by foreign Indian nationals, has special licence to participate in any Middle Eastern country's oil and gas industry is evidence that all listed clients and projects are proven to be true and valid

- The estate of John Augustus Roebling will be called and will testify that the Brooklyn Bridge was designed to be sold many times and in many countries thereby nullifying the saying that 'you cannot sell the Brooklyn Bridge twice'

- “the law should be coherent and not self defeating, condoning illegality by giving with the left hand what it takes with the right hand” in Patel v Mirza [2016] will be a question of Law and will be tested in the Malaysian Federal Court



i3lurker PSAi3alert is so smart

PSAi3alert found out that KPMG are auditors of all those confirmations from Petronas companies.
Just cross check internally only already win court case.

YAWN!!!



PSAi3alert

A number of the 11 companies in question are Petronas companies. KPMG is the auditor for Petronas. Detecting confirmation fraud is a walk in the park.

01/08/2021 10:39 AM

superrr,

The word 'sue' to lawyers = 'limit up' to Bursa traders

Lawyers will advise clients not to litigate when clients do not have money

It's difficult for lawyers to provide answers because questions are made up along the way. The more interesting (read also as profitable) cases will have novel questions answered by the Federal Court. Clients will be happy to have their names cited in case law authorities, never mind that the legal bills have exceeded the judgment sum awarded and that the judgment is an empty one because the defendant has either gone bankrupt or absconded.


superrr PSAi3alert iHunter,

Remind your lawyer on the term "Ex turpi causa non oritur actio" and the need for locus standi in filing an action.
-----------------------------------------------

Lawyers of course like the sue cases, It doesn't matter whether win or lose, They have all the principles and methods to do business. They will explain it when you ask, sometimes there are important parts that you don't know to ask them may not explain to you, These are the essence of lawyers.
31/07/2021 10:00 PM

iHunter,

Remind your lawyer on the term "Ex turpi causa non oritur actio" and the need for locus standi in filing an action.


Some thoughts below:

I believe that the suit will not proceed to trial. KPMG's lawyer, Lee H, ought to have applied to strike the suit. The suit is fundamentally flawed because the company cannot not be the plaintiff in filing the suit. Serba is asking for losses in the market capitalization, but gains or losses in market capitalization are by the shareholders, not the company.

The shareholders and creditors may have a cause of action if KPMG has negligently failed to detect financial irregularities and the company has subsequently gone bust. Under this scenario, the plaintiff will be shareholders and/or liquidator; and the defendants will be the directors, KPMG and the company (under a derivative action).

Even if the case were to go to trial, the odds are against Serba because:

- Lack of 'Clean Hands' - "Fraus omnia corrumpit"
Till date, KPMG has done and said absolutely nothing that can possibly impact changes in Serba's share price. It was Serba's actions, press statements, press conferences and defamatory remarks that have caused the drop in the market capitalization

- Failed to mitigate losses
The onus is on the client to provide evidence to the auditor for the accounts to be signed off. If the client is unhappy that the auditor is not willing to sign off the accounts, the client can change the auditor but certainly not compel the auditor to change their opinions. (Can an alcoholic slanted-eye person sue his doctor for not issuing a health certificate that is required to fly a commercial airplane?)

- Contradictory statements
Alleging KPMG has impacted business and saying Business-As-Usual is blowing hot and cold

- Will not be able to gather witnesses
Based on the reasons stated by the INEDs for their resignations coupled with unequivocal statements by SC and Bursa, Serba will not be able to gather any credible witness for their case.

A number of the 11 companies in question are Petronas companies. KPMG is the auditor for Petronas. Detecting confirmation fraud is a walk in the park.


iHunter Just had meeting with my lawyer and we had some discussion about SerbaDK vs KPMG legal case. It appears that SebarDK have high chances to win the case which I myself surprised.

Please check with your lawyer and do your own research. You may start from here : http://cohensanderson.com/when-can-an-auditor-or-accountant-face-litig... .
31/07/2021 2:21 PM

pearlwhite,

Unfortunately, I'm not able to locate a local chief engineer / supervisor in both Pavillion Qatar and Revenue International instances.

i3lurker's suggestion for a faith based licensing - with the condition that the licence must be held by the toilet bowl cleaner - appears to embrace Occam's razor and is the simplest answer.

Letters from Governments, especially those that allegedly confirm billions of Arab donations, will be helpful in obfuscating issues.

p.s. Please do not use straw man arguments. What Armada does right or does wrong is irrelevant to the issues here (unless Armada has a locus classicus on this subject matter)


Pavilion Qatar, Qatar
Managing Director: Suresh Krishna
Manager: Prashobh Prabhakaran
Accountant: Rajeesh Kizhakke Parambath
Project Engineer: Santhosh Subramannian

Revenue International, Oman
Chairman: Muthiah Raja
Marketing & Finance Manager: Vinoth Kumar Selvam
Finance & Admin Manager: Sabeena Beevi Ramla
Supervisor: Srinu Chakali



pearlwhite .

On the issue of local content, i.e. entire management team is foreigners, the typical (and I mean typical as in Middle Eastern local content, not cabotage ya), as long as chief engineer / supervisor is a local, then will meet local content requirements. It does not mean that management team has to be local. (However, in many cases, the local company's shareholders may be local).

Licensing need SD to explain and show letters from those G that approve for exemptions.

Note: Many of Armada's team are foreign and not local, but still operate in eg. Indonesia as their Captain/Chief engineer is Indonesian.

PSAi3alert I will very much like to embrace faith based licensing. However someone reminded me of the need to be "full of doubts".
31/07/2021 11:21 AM


i3lurker no worries
the license must be held by the toilet bowl cleaner.
Its called faith based licensing.

If you believe it then its true.


Posted by PSAi3alert > Jul 30, 2021 11:50 PM | Report Abuse

I pointed out that Revenue International does not have the requisite licence for Oil and Gas activities in Oman; and that the pass through contract idea will not work because the company is managed and run by Indian nationals.

However, pearlwhite suggested that one of Revenue International's employee or vendors may have have the license or someone can ask for special approval from someone in Oman.

Can we use faith-based auditing to hasten the process?
31/07/2021 12:02 AM

bobvic96,

Can you please ask your mother on what's the definition of afflicted?

I also do not like to mock the afflicted.


bobvic96 My mother just reminded me to "not mock the afflicted".

I apologise. You will not hear from me for a while.
30/07/2021 11:40 PM

Uncle_Lim All the insiders already knew the results. Tony Phua not simply say to drop KPGG from all the glc. He knows! Congratulations to those that collect when everyone is scared. The only counter that will make you millionaire with RM395k initial investment within 1month
31/07/2021 12:26 AM

I will very much like to embrace faith based licensing. However someone reminded me of the need to be "full of doubts".


"The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts" - Bertrand Russell


i3lurker there is also faith based licensing.

If you believe that there is a license then there is a license.
If you believe that there is no license then there is no license.

Its like you can see the Emperor is wearing clothes if you believe it to be true.


Posted by PSAi3alert > Jul 30, 2021 11:50 PM | Report Abuse

I pointed out that Revenue International does not have the requisite licence for Oil and Gas activities in Oman; and that the pass through contract idea will not work because the company is managed and run by Indian nationals.

However, pearlwhite suggested that one of Revenue International's employee or vendors may have have the license or someone can ask for special approval from someone in Oman.

Can we use faith-based auditing to hasten the process?
30/07/2021 11:55 PM

I pointed out that Revenue International does not have the requisite licence for Oil and Gas activities in Oman; and that the pass through contract idea will not work because the company is managed and run by Indian nationals.

However, pearlwhite suggested that one of Revenue International's employee or vendors may have have the license or someone can ask for special approval from someone in Oman.

Can we use faith-based auditing to hasten the process?



pearlwhite It could be one of their employee's have it or one of the vendors. In this senario, one can ask for exemption or special approval from Oman to carry out the work (even if SD nor Revenue Int. dont have it).


PSAi3alert pearlwhite,

Muthiah Raja is not exactly local.

Revenue International does not have the requisite licence in Oman. SD does not have the requisite license in Oman. Who has the licence? You cannot enforce an illegal contract.


i3lurker no worries

this will take more than 20 years to audit

Perhaps we should ignore the trivial matters. Client's such as Pavilion Qatar and Revenue International have pictures to show rotating equipment in action. Never mind that they look like toilet bowls and mops.


In a filing with Bursa Malaysia today, it said wholly-owned subsidiary Serba Dinamik International Ltd had entered into a contract with Pavilion Qatar Engineering Co WLL for the repair, overhaul and maintenance of pumps, compressors, gearboxes and other associated rotating equipment.

--->>> Pictures of pumps and rotating equipment at Pavillion Qatar's client gallery:

https://www.pavilionqatar.com/images/gallery/4.jpg


The Board of Directors of Serba Dinamik Holdings Berhad (“SDHB” or “Company”) wishes to announce the following: (i) Serba Dinamik International Ltd (“SDIL”), a wholly-owned subsidiary of SDHB, has secured one (1) operations and maintenance (“O&M”) contract

The details of the contract are:
Company: SDIL
Contract Title: Repair, Overhaul and Maintenance of Pumps, Compressors and Other Associated Rotating Equipment with Manpower and Spareparts

--->>> First picture in Revenue International's website shows 2 men holding rotating equipment

https://revenueinternationalllc.com/

calvintaneng,

Perhaps too much working from home is causing your contacts to have temporary memory loss.

Both Mustakim Bin Mat Nun and Amirul Afif Bin Abd Aziz are indirect shareholders of One Hydro Power Sdn Bhd, which in turn is a wholly-owned subsidiary of OHP Ventures Sdn Bhd. In fact Mustakim Bin Mat Nun Amirul Afif Bin Abd Aziz, and Zainal Azwadi Zainal Abidin are also directors of OHP Group.

I will now answer those questions that have been posed.

When KPowernet accepted the award by Zhenghong for the Nam Taep 1,2,3 Hydropower Co Ltd ("NT") project valued at USD40.7M in June 2020, the same project that was awarded by NT to Serba, valued at USD66.2M, in July 2018 ought to have been terminated.

You just cannot sell the Brooklyn Bridge twice. Furthermore, Mustakim, Amirul and Zainal ought to know since all three of them are directors of the OHP Group and OHP Group has 35.7% stake in NT.

The impacts for Serba are now:

--->>> Serba will need to write-off RM20.99M from its receivables for the hydro power projects in Laos (FYE 2019: RM12.326M, 15months ended 31-03-2021: RM8.664M)

--->>> Serba will need to write-off RM3.36M (USD800,000) for it's 34.3% stake in NT because Zhenghong is now allegedly the owner for the hydro power plants (the 49% stake in OHP Ventures was purchased form OHPVSB in Oct 2018. OHP Ventures has 70% share in NT)

With the NT and Serba confusion out of the way, we will now try to understand the awards by Zhenghong Building Road and Bridge Construction Co Ltd.

KPowernet announced 2 awards by Zhenghong:
- USD40.7M in June 2020 (3x5 megawatt Nam Taep 1 and 3x5MW Nam Taep 2 hydropower project)
- USD15.88M in Feb 2020 (8 megawatt Nam Samoy hydropower project)

Zhenghong Building Road and Bridge Construction Co Ltd is a company registered by Zheng FuJun in Laos. Zheng Fujun has also registered 3 other companies in Laos - Lao Fanya Marble-Granite Rock Co. Ltd, Lao Fanya Agriculture Investments Co. Ltd and Lao-China Yuan Sheng Real Estate Development Co. Ltd.

None of those companies registered by Zheng FuJun has a power purchasing agreement with Électricité du Laos. Without a PPA in place, it will be impossible to obtain fundings.

Even with a signed PPA, funding will be challenging because of a situation of over-capacity of hydropower plants and debt levels that have resulted in the downgrading of the country's rating to CCC.

Of the 90 hydropower plants that have been planned, 56 plants are in operation with a total capacity of 8,768 Megawatts. Thailand and Yunnan Province in China have had an electricity surplus in recent years and have reduced their demand from Laos.

For completeness sake, I have looked at the satellite images of the Nam Taep river at Sam Tai District, Houaphanh province; and Nam Lik river, Vientiane Province. Unfortunately, there is no evidence of hydropower plant construction activities in those areas.

I do have a couple of additional questions:

--->>> Question: How much of the USD40.7M (3x5 megawatt Nam Taep 1 and 3x5MW Nam Taep 2 hydropower project) contract has been recognized as receivables by KPower?

--->>> Question: How much of the USD15.88M (8 megawatt Nam Samoy hydropower project) contract has been recognized as receivables by KPower?

( p.s. Please ask your contact to update the information at https://www.ohpgroup.co/houaphan and https://www.ohpgroup.co/vientiane before they get more confused themselves)



calvintaneng PSAi3alert

Your question is noted
I still trying to contact person in charge now working from home

Once got will update you

In any case all the negatives have been priced in
29/07/2021 1:07 PM

calvintaneng,

Perhaps too much working from home is causing your contacts to have temporary memory loss.

Both Mustakim Bin Mat Nun and Amirul Afif Bin Abd Aziz are indirect shareholders of One Hydro Power Sdn Bhd, which in turn is a wholly-owned subsidiary of OHP Ventures Sdn Bhd. In fact Mustakim Bin Mat Nun Amirul Afif Bin Abd Aziz, and Zainal Azwadi Zainal Abidin are also directors of OHP Group.

I will now answer those questions that have been posed.

When KPowernet accepted the award by Zhenghong for the Nam Taep 1,2,3 Hydropower Co Ltd ("NT") project valued at USD40.7M in June 2020, the same project that was awarded by NT to Serba, valued at USD66.2M, in July 2018 ought to have been terminated.

You just cannot sell the Brooklyn Bridge twice. Furthermore, Mustakim, Amirul and Zainal ought to know since all three of them are directors of the OHP Group and OHP Group has 35.7% stake in NT.

The impacts for Serba are now:

--->>> Serba will need to write-off RM20.99M from its receivables for the hydro power projects in Laos (FYE 2019: RM12.326M, 15months ended 31-03-2021: RM8.664M)

--->>> Serba will need to write-off RM3.36M (USD800,000) for it's 34.3% stake in NT because Zhenghong is now allegedly the owner for the hydro power plants (the 49% stake in OHP Ventures was purchased form OHPVSB in Oct 2018. OHP Ventures has 70% share in NT)

With the NT and Serba confusion out of the way, we will now try to understand the awards by Zhenghong Building Road and Bridge Construction Co Ltd.

KPowernet announced 2 awards by Zhenghong:
- USD40.7M in June 2020 (3x5 megawatt Nam Taep 1 and 3x5MW Nam Taep 2 hydropower project)
- USD15.88M in Feb 2020 (8 megawatt Nam Samoy hydropower project)

Zhenghong Building Road and Bridge Construction Co Ltd is a company registered by Zheng FuJun in Laos. Zheng Fujun has also registered 3 other companies in Laos - Lao Fanya Marble-Granite Rock Co. Ltd, Lao Fanya Agriculture Investments Co. Ltd and Lao-China Yuan Sheng Real Estate Development Co. Ltd.

None of those companies registered by Zheng FuJun has a power purchasing agreement with Électricité du Laos. Without a PPA in place, it will be impossible to obtain fundings.

Even with a signed PPA, funding will be challenging because of a situation of over-capacity of hydropower plants and debt levels that have resulted in the downgrading of the country's rating to CCC.

Of the 90 hydropower plants that have been planned, 56 plants are in operation with a total capacity of 8,768 Megawatts. Thailand and Yunnan Province in China have had an electricity surplus in recent years and have reduced their demand from Laos.

For completeness sake, I have looked at the satellite images of the Nam Taep river at Sam Tai District, Houaphanh province; and Nam Lik river, Vientiane Province. Unfortunately, there is no evidence of hydropower plant construction activities in those areas.

I do have a couple of additional questions:

--->>> Question: How much of the USD40.7M (3x5 megawatt Nam Taep 1 and 3x5MW Nam Taep 2 hydropower project) contract has been recognized as receivables by KPower?

--->>> Question: How much of the USD15.88M (8 megawatt Nam Samoy hydropower project) contract has been recognized as receivables by KPower?

( p.s. Please ask your contact to update the information at https://www.ohpgroup.co/houaphan and https://www.ohpgroup.co/vientiane before they get more confused themselves)



calvintaneng PSAi3alert

Your question is noted
I still trying to contact person in charge now working from home

Once got will update you

In any case all the negatives have been priced in
29/07/2021 1:07 PM


PSAi3alert calvintaneng,

Have you obtained answers for the following questions?

Questions

In July 2018, Serba got awarded a USD66.2M project by "NT" for the 3x5MW Nam Taep 1 and 3x5MW Nam Taep 2 hydropower energy facility

In June 2020, KPower announced the award by Zhenghong Building Road & Bridge Construction Co Ltd for the 3x5 megawatt (MW) Nam Taep 1 and 3x5MW Nam Taep 2 hydropower energy generating facilities

--->>> Question: How can Zhenghong award the same project to KPowernet for US$40.7mil in June 2020, when NT already awarded the project to Serba for USD66.2M in July 2018?
--->>> Question: Has NT terminated the contract that was previously signed with Serba?
Nam Samoy Hydropower Co. Ltd. was already listed at the developer of the Nam Samoy project that was intended to qualify as a CDM project in a 2014.
--->>> Question: How can Zhenghong award the same project to KPower in Feb 2020?
--->>> Question: Is there any evidence to show that Zhenghong has signed PPAs with Électricité du Laos for both projects?
--->>> Question: Since Fitch has downgraded Laos country rating to CCC, how are the projects going to be funded?
29/07/2021 11:52 AM

calvintaneng,

While waiting, I will appreciate it if you can check with your contact person on the status of the following announcement by KPower on the 26th April 2021 on the award of 4 projects totaling RM510 Million:

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=114177&name=EA_GA_ATTACHMENTS

"CHSB, SSSB, DDSB and KMSB (“Project Companies”) and KPEng shall enter into definitive
agreements within sixty (60) business days from the date of acceptance of Project 1, Project 2,
Project 3 and Project 4 (where relevant) or such other extended period as determined by
them"

Has KPower entered into definitive agreements for Project 1, Project 2, Project 3 and Project 4?



calvintaneng PSAi3alert

Your question is noted
I still trying to contact person in charge now working from home

Once got will update you

In any case all the negatives have been priced in
29/07/2021 1:07 PM

calvintaneng,

Have you obtained answers for the following questions?

Questions

In July 2018, Serba got awarded a USD66.2M project by "NT" for the 3x5MW Nam Taep 1 and 3x5MW Nam Taep 2 hydropower energy facility

In June 2020, KPower announced the award by Zhenghong Building Road & Bridge Construction Co Ltd for the 3x5 megawatt (MW) Nam Taep 1 and 3x5MW Nam Taep 2 hydropower energy generating facilities

--->>> Question: How can Zhenghong award the same project to KPowernet for US$40.7mil in June 2020, when NT already awarded the project to Serba for USD66.2M in July 2018?

--->>> Question: Has NT terminated the contract that was previously signed with Serba?

Nam Samoy Hydropower Co. Ltd. was already listed at the developer of the Nam Samoy project that was intended to qualify as a CDM project in a 2014.

--->>> Question: How can Zhenghong award the same project to KPower in Feb 2020?

--->>> Question: Is there any evidence to show that Zhenghong has signed PPAs with Électricité du Laos for both projects?

--->>> Question: Since Fitch has downgraded Laos country rating to CCC, how are the projects going to be funded?

7chewe,

You ought to know that Al Jazeera has an investigation unit in Qatar.

Why draw attention on similarities?


Serba

http://energy.bernama.com/news.php?id=1736606

KUALA LUMPUR, June 18 (Bernama) -- Serba Dinamik Holdings Bhd (SDHB) has secured an operations and maintenance (O&M) contract in Qatar with an estimated value of RM250.62 million as well as six Malaysia-based contracts with no specific value attached.

In a filing with Bursa Malaysia today, it said wholly-owned subsidiary Serba Dinamik International Ltd had entered into a contract with Pavilion Qatar Engineering Co WLL for the repair, overhaul and maintenance of pumps, compressors, gearboxes and other associated rotating equipment.


SCIB

https://www.thestar.com.my/business/business-news/2020/12/03/scib-units-secure-epcc-contracts-worth-rm271mil
The second contract, given by Pavilion Qatar Engineering Co. W. L.L., is for civil works - fire water project (47,000 metres) at Ras Laffan Industrial City - Power Station - in Qatar valued at US$62mil (equivalent to RM252.84mil) and is expected to be completed in November 2021.


7chewe

"To put the matter into context, the company has been inter alia seeking legal advice regarding recent events surrounding KPMG that has caused adverse speculation against the company. This is in light of a perception that the company shares similarities to that of another publicly listed company, which is currently in litigation with KPMG," explained SCIB.

"Accordingly, concerns were raised by the company as to whether KPMG is able to continue acting independently in their capacity as auditor consonant with Rule 400.5 of the Malaysian Institute of Accountants By-Laws (on professional ethics and conduct)," it added.
26/07/2021 2:24 PM

pearlwhite,

Muthiah Raja is not exactly local.

Revenue International does not have the requisite licence in Oman. SD does not have the requisite license in Oman. Who has the licence? You cannot enforce an illegal contract.


p.s. Thanks re message 'REAL NAME IS XHIANX KAX XINX, CORPORATE FINANCE MANAGER AT USAHA TEGAS SDN BHD'


pearlwhite In OnG industry, it is very common to have your client's company incorporated days earlier before a contract is signed (eg. Armada).

O&M contracts are usually considered (mom&pop style) and used to meet local content requirements.

The way this is read for SD, SD got a pass through contract from Revenue International. Why? Revenue don't have the license, hence SD got in insteads (the contract given to Revenue Int. was passed to SD to execute).

26/07/2021 1:44 PM

"Mop Jobs in Oman"

On the 16 October 2019, Serba made the following announcement through Bursa:

The Board of Directors of Serba Dinamik Holdings Berhad (“SDHB” or “Company”) wishes to announce the following: (i) Serba Dinamik International Ltd (“SDIL”), a wholly-owned subsidiary of SDHB, has secured one (1) operations and maintenance (“O&M”) contract

The details of the contract are:
Company: SDIL
Contract Title: Repair, Overhaul and Maintenance of Pumps, Compressors and Other Associated Rotating Equipment with Manpower and Spareparts
Client: Revenue International L.L.C
Duration: 14th August 2019 – 13th August 2022
Segment: O&M
Country: Oman

The client Revenue International LLC was registered in Oman in September 2018
CR Commercial Name: Revenue INTERNATIONAL
Commercial Registration No: 1326105
Registration Date: 10/09/2018

Domain: revenueinternationalllc.com
Created: 2018-09-15 15:35:35 UTC

Revenue International LLC's website at https://revenueinternationalllc.com provided the following service descriptions:
Manpower Supply
• General Helpers & Semi- Skilled Employees.
• Skilled Employees such as Carpenters, Painters, Electricians, Steel Fixers, Masons, etc.
• Skilled Employees such as Cleaning, Packing, Loading & Unloading, etc.
• Office Boys, Housekeepers, etc.
Carpentry, Electrical Services, Cleaning, Other Services - Painting, trained handymen, Tile Flooring, Waterproofing

> Revenue International LLC is managed and staffed by Indian foreign workers

> primary business is cleaning services

> the only rotating equipment used are mops

> it's Commercial Registration Certificate is licensed for cleaning services

> Revenue International does not have licences for activities in repair and maintenance of mining, construction, and oil and gas field machinery; renting of mining and oilfield machinery and equipment; repair and maintenance of steam generators, turbines, etc

The total income recognized from Oman is RM546.778M and comprises:

31-12-2017 RM118.385M
31-12-2018 RM46,764M
15 months ended 31-03-2021 RM381.629M

--->>> A total of RM546.778M has to be written off the books for Oman


Sources:
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=98116&name=EA_GA_ATTACHMENTS
https://www.business.gov.om/portal/searchEstablishments

The chronology of events are:

On Friday Jul 9, 2021 1:24 PM, you posted:

Uncle_Lim Karim bought back at .465


On Saturday Jul 10, 2021 6:52 PM , you posted:
Uncle_Lim Come lo.. monday 2 big news

1 . Karim bought back
2 . Ey news


On 14 July 2021, Bursa received notification from Dato’ Dr Ir Ts Mohd Abdul Karim Bin Abdullah, a director of the Company, in relation to his dealings in the Company’s securities outside closed period.

The notification stated that:

On 12/07/2021 Dato' Dr Ir Ts Mohd Abdul Karim Bin Abdullah bought 10,000,000 at an average price of 0.4688 via Direct Acquisition of shares in open market.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3175270

Question:

On the 9th of July 2021, what system allowed you to view the order that is going to be executed by Karim only 3 days later on the 12th of July 2021?

If you are suggesting that Karim's order was actually executed on the 9th of July 2021, will you also be implying that Karim lied to Bursa in the 14th Jul 2021 announcement that he bought back the shares on the 12th of July 2021?


Uncle_Lim Advance knowledge? Lol clown psai3alert, everytime traders place order your remiser code and cds account number also attached to the order. Anyone in IB has that info. Certified clown
25/07/2021 5:12 PM

"Serba's Indian Stories - Entangled Hands"

I will now repost with amendments.

In 2021 SDITIL announced project with Captive Technology Solutions Pvt Ltd; and S2CIPL announced project with Analog and Digital Labs India Private Limited in India

Analog & Digital Labs' presence is at https://www.and-labs.com

"Analog & Digital Labs (A&D) is a Research and Development company headquartered in Coimbatore, which is committed towards innovation and revolutioning Traffic intelligence, IoT based solutions, Artificial Integlligence,Video surveillance and safe and security solutions in India.

Established in 2009

Our product division offers AI and IoT based products that helps you to overcome some of the key challenges in the field of Intelligent Traffic Engineering and Law Enforcement Solution"

Captive Technology Solutions Pvt Ltd does not have any web presence

Captive Technology Solutions Pvt Ltd is never registered as a company in India

***Add*** Captiv Techno Solutions PVT LTD is a company that was established in 11/12/2020. The company shares the same directors as Serba2C India Private Limited

SERBA2C India Private Limited (S2CIPL) was registered in Tamil Nadu on 11/02/2021

Analog and Digital Labs is allegedly already in the business of traffic management, CCTV and surveillance solutions

But Serba ('S2CIPL') will be allegedly supplying CCTV and surveillance solutions to Analog and Digital Labs

Accumulated receivables for clients in India is RM59.529M
FYE 2019: RM16.555
15 months ended 31-03-2021: RM42,974M

***Remove*** --->>> A total of RM59.529M has to be written off because it's impossible to collect from non-existent companies; and a company will not pay for invoices for products and services that the company itself is a supplier

***Add*** --->>> A total of RM59.529M has to be written off because it's impossible to collect from non-existent companies; a company will not pay for invoices for products and services that the company itself is a supplier; and it is illegal to create fictitious transactions with left-hand right-hand companies without genuine exchange of goods or services


CIN: U72500TN2021PTC141351
Company Name: SERBA2C INDIA PRIVATE LIMITED
Registration Number: 141351
Company Category: Company limited by Shares
Class of Company: Private
Authorised Capital(Rs): 1000000
Paid up Capital(Rs): 100000
Date of Incorporation: 11/02/2021
Registered Address: 2A, SARAYU APARTMENT, S26, SASTRI NAGAR 1STAVENUE ADYAR CHENNAI Chennai TN 600020 IN
Email Id: datodrmakb@gmail.com

Directors/Signatory Details
DIN/PAN Name Begin date
06904112 CHANDRASEKAR 11/02/2021
07988047 MOHD ABDUL KARIM BIN ABDULLAH 11/02/2021
08365822 KALAIKOVAN ANTONY 11/02/2021
08993463 PALANISWAMY VELVADIVU PIRIYA 11/02/2021


CIN: U72900TZ2020PTC035188
Company Name: CAPTIV TECHNO SOLUTIONS PRIVATE LIMITED
Registration Number: 035188
Company Category: Company limited by Shares
Class of Company: Private
Authorised Capital(Rs): 1000000
Paid up Capital(Rs): 100000
Date of Incorporation: 11/12/2020
Registered Address: C-12, SAKKARAI CHETTIYAR NAGAR, UPPILIPALAYAMPOST, COIMBATORE SOUTH COIMBATORE Coimbatore TN641015 IN
Email Id: piriya.venkat@gmail.com

Directors/Signatory Details
DIN/PAN Name Begin date
08993463 PALANISWAMY VELVADIVU PIRIYA 11/12/2020
08993464 JEYALAKSHMI CHANDRASEKAR 11/12/2020

"A Few Confused Men - Did you order the Code Fraud?"

Last week, I made a posting on Serba's alleged clients in India. I posted that the company 'Captive Technology Solutions Pvt Ltd' that was announced by Serba, through Bursa and various press releases, does not exist in India.

Within 2 hours of my posting, a person tried to correct me by stating that the company's name should be 'Captiv Techno Solutions PVT LTD' and that those are trivial, housekeeping findings.

I have previously thought this person to be an associate of the organization (Mafia's ranking is: associate, soldier, capo, consigliere, underboss, boss) because this person have had advance knowledge of Karim's 10M share buyback.

I have replied by stating that I am aware of Captiv Techno Solutions PVT LTD and that the company was established on 11/12/2020. However, I did not reveal that Captiv Techno Solutions PVT LTD was actually a Serba's setup.

It's puzzling on why this person chose to draw attention to Captiv Techno Solutions PVT LTD?

Perhaps this person is not even an associate in the organization?


"He who believes Karma and Kama Sutra is the same will soon face Karma when Kama Sutra-ed in a prison cell."



*** Captive Technology Solutions Pvt Ltd or Captiv Techno Solutions PVT LTD ***


+++>>> PSAi3alert "Serba's Indian Stories"

Captive Technology Solutions Pvt Ltd does not have any web presence

Captive Technology Solutions Pvt Ltd is never registered as a company in India

22/07/2021 8:13 PM


--->>> Uncle_Lim Once again psai3alert sor high ssh port 22, verify project with google map made himself looks clown again. It's Captiv Techno Solutions PVT LTD la so high. Lol clown https://www.captivtech.com/ . KPMG also not dare to say write of. Lap sap shoplot auditor

22/07/2021 9:58 PM


+++>>> PSAi3alert Uncle Lim Urine,

Go through the following Bursa announcement:

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=112515&name=EA_GA_ATTACHMENTS

Company: SDITIL
Contract Title: Design, supply, installation, testing, commission and facilitation of Integrated Adaptive Traffic Management System
Client Captive Technology Solutions Pvt Limited

The only way to avoid being caught for lying is not to lie.

(Off course I have gone through U72900TZ2020PTC035188 CAPTIV TECHNO SOLUTIONS PRIVATE LIMITED Tamil Nadu Incorporation 11/12/2020)

22/07/2021 10:30 PM

+++>>> PSAi3alert Captive Technology Solutions Pvt Limited is announced by Serba to Bursa.

Captiv Techno Solutions PVT LTD is a company that you have imagined.

--->>> Uncle_Lim Bodoh normal company name like that got mistake when typing. That's what I said EY HOUSEKEEPING FINDINGS all settled. Those are house keeping findings
22/07/2021 10:33 PM

--->>> Uncle_Lim Trivial findings, housekeeping findings all can settle in a quick meeting. But KPGG straight whistle blow. Blessings in disguise, we all got to collect at discounted price.
22/07/2021 10:34 PM

--->>> Uncle_Lim Trivial findings and housekeeping audit findings wont bring down the company. Everyone knows that
22/07/2021 11:05 PM

--->>> Uncle_Lim PSAi3alert no finding today boh? scared kena roasted de? KPGG wannabe
23/07/2021 5:12 PM


*** Advanced Knowledge of Attempts to Manipulate Price ***

--->>> Uncle_Lim Karim bought back at .465

Jul 9, 2021 1:24 PM

--->>> Uncle_Lim Come lo.. monday 2 big news

1 . Karim bought back

2 . Ey news

Jul 10, 2021 6:52 PM

12/07/2021 Dato' Dr Ir Ts Mohd Abdul Karim Bin Abdullah 0.4688 10,000,000 0.2696%
Direct Acquisition of shares in open market.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3175270

calvintaneng,

My question was:

--->>> Question: Since Fitch has downgraded Laos country rating to CCC, how are the projects going to be funded?

The background to the question is that Laos' ambitions to become 'Battery of Southeast Asia' has been derailed by a situation of over-capacity of hydropower plants and debt levels that have resulted in the downgrading of the country's rating to CCC.

Between 2021 to 2023, Laos faces USD 1 billion in external debt servicing payments each year and its foreign reserves is only about USD 1.2 billion as at April 2021.

Of the 90 hydropower plants that have been planned, 56 plants are in operation with a total capacity of 8,768 Megawatts. Thailand and Yunnan Province in China have had an electricity surplus in recent years and have reduced their demand from Laos.

In the above context of dams without demand and poor credit rating, how are the planned projects going to be funded.

Whether Fitch is right or wrong in regard to CPO prices is irrelevant to the funding question.


calvintaneng Jessie

Still waiting for answers

As for Fitch downgrading Laos you must also know Fitch also wrongly downgraded Cpo to less than Rm2,600 by 2nd half of 2021

FITCH was wrong

See Fcpo prices firmly above Rm4,000 (Not Rm2,600)

23/07/2021 12:17 PM

If He-Man does not act soon, He-Man may be embarrassed by WSJ and Al Jazeera



Huangbk72 No la.. All powerful He-Man will save the day... soon will have "Special" external Auditors.

Both "Special" Independent Reviewer + External Auditor will be reporting concurrently to SD and Heman..

Lets see if SD can delay.. hahaha.
22/07/2021 9:39 PM

Implants by plastic surgeons should have higher valuations. :)


Johnzhang Typo error : implantable. Should read as unplantable.
23/07/2021 1:01 PM

--- Discussion holiday from Serba ---

Sslee, I will guess motherhood apple pie answers will be given.

Selling off the loss-making subsidiary for RM1 has provided the optics for an improved balance sheet and gives time for the company to smooth out the write-offs against earnings from the other profitable venture.

What is not visible, however, is the value of the previous subsidiary's tax losses. Four times ( 1/25%) of the accumulated losses can be used for channeling in pre-tax profits.

If transactions were to be undertaken to reap the benefits of the accumulated losses, and in parallel to the write-offs by the previous majority shareholder, secret profits would have been made. The party that has enjoyed the secret profits will become constructive trustee ( see also FHR Ventures v Cedar Capital ), and there is no statute of limitation for trust property.

The proper route that the Management should take is to get a judgment debtor sum and apply a garnishee order to attach the ex-subsidiary's bank accounts. In order to assess whether the Management will choose this route, I will do searches on the ex-subsidiary and the ex-subsidiary's now main shareholder's accounts and will zoom in on the names of officers and date of tabling of the last financial results.


Sslee Guess what Bursa reply me on below questions?

5. Impairment of trade receivables and other receivable bases on customers/related parties that are in financial difficulties and have defaulted on payments. Should Management take legal action to recover receivables and at what stages the law allowed debts as unrecoverable and to be written off?

6. What are the rules and regulations to safeguard abuse/misuse by Management/Executive to write off debts by related or friendly parties as impairment?
23/07/2021 10:41 AM

I was beginning to feel sorry for Serba and Karim, and was contemplating to stop publishing my findings. Really.

After reading your comments and accusations, I'm reminded of Serba's arrogance.

I am now motivated to continue in my pursuits and will not stop until the Fat Lady Sings!



Uncle_Lim Trivial findings, housekeeping findings all can settle in a quick meeting. But KPGG straight whistle blow. Blessings in disguise, we all got to collect at discounted price.
22/07/2021 10:34 PM

The hole is looking to be as deep as the Mariana Trench.

Even their 25% owned Bion PLC that is listed on the AIM market in London is having problems reporting financial results:

https://www.marketwatch.com/story/bion-shares-fall-on-delayed-audit-of-2020-results-271624865951

Even the latest financial report 31/03/21 is showing odd numbers:
Cash: RM1025.929M
Interest Income: RM0.807M

Annualized interest rate of 0.3% does not look right.

It's as though 80% of the cash is kept underneath the beds of all employees. Unless, that's the practice for Sarawak companies.



i3lurker wow!
the same thought had also occurred to me..
I was thinking more of like postpone 6 months though....



Posted by JJchan > Jul 22, 2021 9:27 PM | Report Abuse

eventhough Ernst is appointed by Bursa, I think Serb can delay and postpone any definite
report for another 6--9 months. My best guess tactic is---my Dog died of Covid ( need to arrange
proper funeral service ) Then my Cat too died of Covid (Delta Variant ). Need to queue for
Cremation-----one month Delay
22/07/2021 9:31 PM

Captive Technology Solutions Pvt Limited is announced by Serba to Bursa.

Captiv Techno Solutions PVT LTD is a company that you have imagined.


Uncle_Lim Bodoh normal company name like that got mistake when typing. That's what I said EY HOUSEKEEPING FINDINGS all settled. Those are house keeping findings

Uncle Lim Urine,

Go through the following Bursa announcement:

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id...

Company: SDITIL
Contract Title: Design, supply, installation, testing, commission and facilitation of Integrated Adaptive Traffic Management System
Client Captive Technology Solutions Pvt Limited

The only way to avoid being caught for lying is not to lie.

(Off course I have gone through U72900TZ2020PTC035188 CAPTIV TECHNO SOLUTIONS PRIVATE LIMITED Tamil Nadu Incorporation 11/12/2020)

"Serba's Indian Stories"

In 2021 SDITIL announced project with Captive Technology Solutions Pvt Ltd; and S2CIPL announced project with Analog and Digital Labs India Private Limited in India

Analog & Digital Labs' presence is at https://www.and-labs.com

"Analog & Digital Labs (A&D) is a Research and Development company headquartered in Coimbatore, which is committed towards innovation and revolutioning Traffic intelligence, IoT based solutions, Artificial Integlligence,Video surveillance and safe and security solutions in India.

Established in 2009

Our product division offers AI and IoT based products that helps you to overcome some of the key challenges in the field of Intelligent Traffic Engineering and Law Enforcement Solution"

Captive Technology Solutions Pvt Ltd does not have any web presence

Captive Technology Solutions Pvt Ltd is never registered as a company in India

SERBA2C India Private Limited (S2CIPL) was registered in Tamil Nadu on 11/02/2021

Analog and Digital Labs is allegedly already in the business of traffic management, CCTV and surveillance solutions

But Serba ('S2CIPL') will be allegedly supplying CCTV and surveillance solutions to Analog and Digital Labs

Accumulated receivables for clients in India is RM59.529M
FYE 2019: RM16.555
15 months ended 31-03-2021: RM42,974M

--->>> A total of RM59.529M has to be written off because it's impossible to collect from non-existent companies; and a company will not pay for invoices for products and services that the company itself is a supplier

India Ministry of Corporate Affairs company search portal:
https://www.mca.gov.in/mcafoportal/showCheckCompanyName.do

I've skewed, planed and rotated the images but was unsuccessful.

Time to call Raja Bomoh


i3lurker maybe its a faith based contract?

You can only see the completed plant on satellite photos if you believe?
22/07/2021 2:13 PM

Sslee,

Was aware of thyssenkrupp

A model of a 45 tonnes per day chlorine plant from thyssenkrupp was also reported in African Review back in June 2018

https://africanreview.com/manufacturing/industry/thyssenkrupp-supplies-modular-chlor-alkali-plant-to-tanzania

But satellite image of the site at Msufini is showing an empty piece of land

Does thyssenkrupp install stealth cloaking technology in all chlor-alkali plant or upon specific client's request?


Sslee

thyssenkrupp Industrial Solutions has secured a contract with Serba Dinamik International for the engineering and procurement of a new modular chlor-alkali plant. The greenfield plant with a capacity of 90 tons of chlorine per day will be built in the Hazarasp Free Economic Zone in the Republic of Uzbekistan.

This is the second order that thyssenkrupp Industrial Solutions has received from Serba Dinamik, strengthening the partnership between both companies. The new plant will produce, inter alia, caustic soda (NaOH) flakes, liquid chlorine and sodium hypochlorite, mainly for the export market. The start-up is planned for the second quarter of 2022.

Denis Krude, CEO of thyssenkrupp Uhde Chlorine Engineers: “We are delighted to see already the second order from Serba Dinamik for our modular chlorine plants. Following a previous project in Tanzania, this new order reflects the customer’s trust in our technology and global project execution capability. It is also a proof that demand for easy to install solutions and local chlorine supply is rising.”
22/07/2021 6:33 AM

Repost from KPower thread (trying to get official answers before publishing 'Slippery Slopes in Laos')


calvintaneng,

I am not asking about Renewable Energy, Green Energy or Hydropower.

You said that you have spoken Encik Muhammad Syukri and Cik Sarah Azreen.

Since you have contacts with them, can you please ask them a few simple questions.


The questions are:

In July 2018, Serba got awarded a USD66.2M project by "NT" for the 3x5MW Nam Taep 1 and 3x5MW Nam Taep 2 hydropower energy facility

In June 2020, KPower announced the award by Zhenghong Building Road & Bridge Construction Co Ltd for the 3x5 megawatt (MW) Nam Taep 1 and 3x5MW Nam Taep 2 hydropower energy generating facilities

--->>> Question: How can Zhenghong award the same project to KPowernet for US$40.7mil in June 2020, when NT already awarded the project to Serba for USD66.2M in July 2018?

--->>> Question: Has NT terminated the contract that was previously signed with Serba?

Nam Samoy Hydropower Co. Ltd. was already listed at the developer of the Nam Samoy project that was intended to qualify as a CDM project in a 2014.

--->>> Question: How can Zhenghong award the same project to KPower in Feb 2020?

--->>> Question: Is there any evidence to show that Zhenghong has signed PPAs with Électricité du Laos for both projects?

--->>> Question: Since Fitch has downgraded Laos country rating to CCC, how are the projects going to be funded?

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

calvintaneng

Good morning to Information and all here

Yes. This is the correct way to find the truth.

During the one hour conversation with Kpower Management they only mentioned Serba briefly.

And they are into the Renewable Energy sphere which is Green Energy. And the cleanest of the green energy is Hydropower long before Solar power became popular.

Since I already interested in biodisel through palm oil it just "CLICKED" that KPOWER is the Company with a Bright Sunrising Future. I "SEE" the potential in KPOWER and I think after all the noise is over KPOWER should see very fast exceptional growth
22/07/2021 8:08 AM

calvintaneng I spoke to Encik Muhammad Syukri, Cik Sarah Azreen & others in a One to One Talk with Kpower Management & came away very positive about the Bright Future Prospects of Kpower.

They are all nice decent Business People

Kpower is doing real business in the Renewable Energy Field

Hydropower is among their earliest expertise before even Solar energy turned popular

20/07/2021 6:44 PM

calvintaneng,

I am not asking about Renewable Energy, Green Energy or Hydropower.

You said that you have spoken Encik Muhammad Syukri and Cik Sarah Azreen.

Since you have contacts with them, can you please ask them a few simple questions.


The questions are:

In July 2018, Serba got awarded a USD66.2M project by "NT" for the 3x5MW Nam Taep 1 and 3x5MW Nam Taep 2 hydropower energy facility

In June 2020, KPower announced the award by Zhenghong Building Road & Bridge Construction Co Ltd for the 3x5 megawatt (MW) Nam Taep 1 and 3x5MW Nam Taep 2 hydropower energy generating facilities

--->>> Question: How can Zhenghong award the same project to KPowernet for US$40.7mil in June 2020, when NT already awarded the project to Serba for USD66.2M in July 2018?

--->>> Question: Has NT terminated the contract that was previously signed with Serba?

Nam Samoy Hydropower Co. Ltd. was already listed at the developer of the Nam Samoy project that was intended to qualify as a CDM project in a 2014.

--->>> Question: How can Zhenghong award the same project to KPower in Feb 2020?

--->>> Question: Is there any evidence to show that Zhenghong has signed PPAs with Électricité du Laos for both projects?

--->>> Question: Since Fitch has downgraded Laos country rating to CCC, how are the projects going to be funded?


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

calvintaneng

Good morning to Information and all here

Yes. This is the correct way to find the truth.

During the one hour conversation with Kpower Management they only mentioned Serba briefly.

And they are into the Renewable Energy sphere which is Green Energy. And the cleanest of the green energy is Hydropower long before Solar power became popular.

Since I already interested in biodisel through palm oil it just "CLICKED" that KPOWER is the Company with a Bright Sunrising Future. I "SEE" the potential in KPOWER and I think after all the noise is over KPOWER should see very fast exceptional growth
22/07/2021 8:08 AM

calvintaneng I spoke to Encik Muhammad Syukri, Cik Sarah Azreen & others in a One to One Talk with Kpower Management & came away very positive about the Bright Future Prospects of Kpower.

They are all nice decent Business People

Kpower is doing real business in the Renewable Energy Field

Hydropower is among their earliest expertise before even Solar energy turned popular

20/07/2021 6:44 PM

information,

Yes, much obliged if calvintaneng can obtain answers for those questions.

I dropped by this thread because of the common project that Serba has with KPower in Laos. You can check out my soliloquy questions and answers on other Serba projects in my other postings.

Is there any other KPower's international contracts that will be interesting for reviews? I need more neuroplasticity exercises.



information @PSAi3alert, It would be good if calvintaneng can seek kpower with the same query of yours and i am confident we will received good explanation on this

Trust your concerns are only limited to Laos powerplant (which appears more of a clarification than authenticity of such awards), and that the rest of the international contracts has no such concerns
22/07/2021 12:30 AM

My questions were:

In July 2018, Serba got awarded a USD66.2M project by "NT" for the 3x5MW Nam Taep 1 and 3x5MW Nam Taep 2 hydropower energy facility

In June 2020, KPower announced the award by Zhenghong Building Road & Bridge Construction Co Ltd for the 3x5 megawatt (MW) Nam Taep 1 and 3x5MW Nam Taep 2 hydropower energy generating facilities

Question: How can Zhenghong award the same project to KPowernet for US$40.7mil in June 2020, when NT already awarded the project to Serba for USD66.2M in July 2018?

Question: Has NT terminated the contract that was previously signed with Serba?

Nam Samoy Hydropower Co. Ltd. was already listed at the developer of the Nam Samoy project that was intended to qualify as a CDM project in a 2014.

Question: How can Zhenghong award the same project to KPower in Feb 2020?

Question: Is there any evidence to show that Zhenghong has signed PPAs with Électricité du Laos for both projects?

Question: Since Fitch has downgraded Laos country rating to CCC, how are the projects going to be funded?

Corporate schizophrenia in Laos

January 2018

OHP Ventures was incorporated in the Federal Territory of Labuan, Malaysia on 27 February 2018 as a private limited company under the Labuan Companies Act 1990.

The total issued and paid-up share capital of OHP Ventures is USD 100

OHP Ventures has entered into a joint development agreement with Thavone Athsamouth dated 9 January 2018 for the development, financing, construction, commissioning and operation and maintenance of two (2) mini hydro installations/projects with an aggregate capacity of 30MW in the district of Houaphan, Lao People's Democratic Republic (“Lao PDR”) (“Project”). The Project had commenced in July 2018 and shall be completed by January 2022.

OHP Ventures owns seventy percent (70%) of the issued and paid-up shares in Nam Taep 1.2.3 Hydropower Company Limited (“NT”), a company incorporated in Lao PDR. NT is the holder of the two (2) concessions for the Project. NT had entered into two (2) power purchase agreements (“PPAs”) with Électricité du Laos, both dated 8 December 2017, for the sale and purchase of the net electrical output generated from 3x5MW Nam Taep 1 and 3x5MW Nam Taep 2 hydropower energy generating facility, respectively, to be constructed at Ban Nam Taep and Ban Nameuang, Xam Tai District, Houaphan Province, Lao PDR.

OHP Ventures Sdn Bhd ("OHPVSB") as at February 2018 owned the entire issued and paid-up share capital of OHP Ventures.


19 July, 2018

Serba Dinamik Holdings Bhd has secured an engineering, procurement, construction and commissioning (EPCC) contract to build two hydro power plants in Laos, which will have the capacity to generate 30 megawatt (MW) of electricity for US$66.2 million, equivalent to RM268.8 million.

Serba Dinamik said the contract was awarded by Nam Taep 1,2,3 Hydropower Co Ltd ("NT") to its wholly-owned subsidiary Serba Dinamik International Ltd, which is valid throughout the next 43 months or 3.6 years.

--->>> Serba got awarded a USD66.2M project by "NT" (70% owned by OHP Ventures)


16 Oct 2018

The Board of Directors of SDHB (“Board”) wishes to announce that the Company’s whollyowned subsidiary, SDIL had on 15 October 2018, entered into a share sale and purchase agreement (“SSA”) with OHPVSB to acquire forty nine percent (49%) equity interest held by OHPVSB in OHP Ventures (“Sale Shares”) for the Purchase Consideration (“Proposed Acquisition”).

Upon completion of the Proposed Acquisition, OHP Ventures will become a forty nine percent (49%)-owned associated company of SDIL. SDIL and OHPVSB are hereinafter either individually referred to as the “Party” or collectively as the “Parties”. Further details of the Proposed Acquisition are set out in the ensuing sections.

Sharifah Irina Binti Syed Ahmad Radzi (“Sharifah” or the “Interested Director”) is the
Independent Non-Executive Director of SDHB. She is related to one of the directors and
shareholders of OHPVSB and accordingly, she is deemed interested in the Proposed
Acquisition.

--->>> OHP Ventures has 70% interest in NT
--->>> Serba paid USD800,000 for 49% of OHP Ventures (paid-up capital USD100) from OHPVSB
--->>> Serba effectively has 34.3% in NT


21 February 2020

He said KPOwer had recently received and accepted a letter of award from Zhenghong Building Road and Bridge Construction Co Ltd to undertake, among others, the design, supply, construction, commissioning and completion of an eight megawatt hydropower plant at Nam Samoy in Vientiane, Laos.

--->>> Nam Samoy Hydropower Co. Ltd. was already listed at the developer of the Nam Samoy project that was intended to qualify as a Clean Development Mechanism (CDM) project in a 2014

https://cdm.unfccc.int/Projects/DB/TUEV-RHEIN1437628107.49/view


29 June 2020

KPowernet told Bursa Malaysia today that it was awarded a US$40.7mil (RM174.5mil) contract by Zhenghong Building Road & Bridge Construction Co Ltd to build two hydropower energy facilities in Houaphan province.

The latest contract is for the supply, construction, commissioning and completion of the civil work for the development of 3x5 megawatt (MW) Nam Taep 1 and 3x5MW Nam Taep 2 hydropower energy generating facilities.

--->>> NT already awarded the 3x5 megawatt (MW) Nam Taep 1 and 3x5MW Nam Taep 2 hydropower project to Serba for US$66.2 million in July 2018

--->>> Zhenghong Building Road & Bridge Construction Co Ltd is now awarding the same project to KPowernet for US$40.7mil?!

information, off course I know about Serba's interest in OHP Ventures and NT.

Full background in next post.


information @Jessie, PSAi3alert query is answered here:

https://www.ohpgroup.co/hydro-power-plants

Click on Laos and you will see that Serba owns 49% equity interest on the project.
21/07/2021 10:35 PM

Haha.

I can only use publicly available information in public forums.


i3lurker PSAi3alert

"cough cough"

actually you can get very accurate satellite photos besides google maps but of course for these you will need to pay unless you know someone inside the CIA, NSA, MI5, MI6, Mossad, KGB or maybe set up your own Research Division inside PM Office..........

you can also check those "piling works" in Dubai "wink wink"
On Google Maps its still blank EMPTY LAND I believe...
21/07/2021 11:22 PM

Nope, not an auditor. Did work in the continent before and loved Cape Town.


unomi12 PSA seems like a ex KPMG auditor who audits serba account before. haha
Anyway thanks for sharing.
21/07/2021 10:53 PM