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2021-07-12 21:36 | Report Abuse
@Uncle_Lim maybe that shoplot auditor we have here is indeed the shoplot auditor auditing Serba hahahahaha
Patutlah attitude pun sama, orang dah explain, tak nak dengar, saja nak cari gaduh hahahahaha
2021-07-12 21:17 | Report Abuse
You see someone climb the fence u terus call polis, larut malam polis come with blaring siren, whole kampung woke up, and that neighbour of yours dimalukan di khalayak ramai.
You could just tegur, or even "oi!", whole thing resolved.
But you chose to terus call 999. Jadi gempak satu kampung larut malam. Padalah cuma jiran yg hilang kuncinya.
2021-07-12 21:15 | Report Abuse
Standard is one thing.
Common industry practice is another thing.
It's like, law and textbook tells u, u see a person climb a house fence, you call police right away.
But in real life, you could tegur first, who knows it was just a neighbour who forgot his keys or his door lock is spoiled.
2021-07-12 21:08 | Report Abuse
And I really ROFL at some joker who say that all Big 4 auditors are the same.
I experienced some who work late hours or even sleep at client's office
I experienced some who clock off sharp every day
I experienced some who would sit down and listen to you as you explain things
I experienced some who are more interested in lecturing you about what is "proper standard" than try to understand why you do your things your way
All auditors are same and has the same standard? Hahahahaha
2021-07-12 21:05 | Report Abuse
From the facts available now, if I were to make an educated guess based on my experience with auditors (I have encountered before PwC, Deloitte, KPMG and EY, all 4 of them)
# Serba CFO and/or management langsi sama KPMG
# KPMG langsi sama Serba CFO and/or management
Either of the above, or both have occurred, hence the breakdown in client-auditor relationship.
And yes, I have fought with my auditor before. Sampai screaming at each other.
2021-07-12 20:48 | Report Abuse
There are 2 different types of accountants or CFO.
One type will try to appease the auditor, no matter how trivial the matter, or even how rude the auditor is. Peace and harmony.
Another type will give his answer, in as detailed manner as practicable and possible, and close the topic. If the auditor still insist to cari pasal even though you have already open book and tell all, ask him/her fly kite.
2021-07-12 20:40 | Report Abuse
@Steady Punpipi hahahahaha I'm only talking from my own PRACTICAL EXPERIENCE.
Tak sangka I buta2 tembak, kena so many, macam UPSR A, B, C or D objective questions XD
#O&M (operations and maintenance) contracts
#working-capital-heavy
#recognise the revenue based on the percentage of completion
#the invoice is based on milestones achieved
#there is always a time lag between when you spend your cash and the date of collection
Told u guys these are all industry norm
2021-07-12 17:34 | Report Abuse
Yes, I just bought in Taliworks! Interesting, stable, safe stock this is.
2021-07-11 16:42 | Report Abuse
CHONG Kong Hui
Buy when no one is interested
Sit back and ride the rally when interest comes back
2021-07-11 13:37 | Report Abuse
Anyway my opinion on Ta Ann is, it's a safe stock to be with very good divvy yield. The only problem is, no big boys and mass fanfare to push up the price.
2021-07-11 13:36 | Report Abuse
Err...PBB price target I don't always buy.
I personally prefer TA securities, Kenanga and Affin Hwang punya analysis and TPs.
2021-07-10 22:40 | Report Abuse
But CPO so bullish, do not totally discount possibility of more
2021-07-10 22:39 | Report Abuse
To be on the prudent side, expect 15 sen annual dividend la
5.86% annual yield
2021-07-10 20:30 | Report Abuse
Uncle, construction companies jalan la...power of MITI letters!
2021-07-10 20:04 | Report Abuse
shoplot auditors talk accounting terms (baca teks book saja tau, bila come out to audit MNC or GLC, confirm kena tiao by client kao kao)
accountant in industry talk real world contract clauses, commercial arrangements and actual accounting
2021-07-10 18:30 | Report Abuse
Orang dah kasi point by point, tapi leher tu lagi keras dari reinforced steel bar
hahahahaha hopeless
2021-07-10 17:53 | Report Abuse
See, baca sentence pun tak reti baca punya wong choy hahahahahahahaha
Anyone with decent english reading comprehension skills can help wong choy ah?
hahahahahaha
2021-07-10 17:52 | Report Abuse
Steady Punpipi many chinese likes to call their dog, Ah Wong, Wong Kau, Wong Choy...
Wong in Cantonese = Huang in mandarin hanyu pinyin
hahahahahahahahaha
2021-07-10 17:50 | Report Abuse
Pro SD use race and religion? There you go again, just because I sometimes use malay, u ASSuMe I'm a malay just as some noobs here ASSuMe I'm a girl?
hahahahahahahahahahahahaha
Huang72, I hope u are not really born 1972. Buat malu je uncle ni hidup dah lama tapi otak...cetek
2021-07-10 16:58 | Report Abuse
https://www.theedgemarkets.com/article/atrium-1q-npi-rises-higher-rental-income-penang-property
Let's hope they got tenant already
2021-07-10 16:45 | Report Abuse
Steady Punpipi, don't say until Jibby and Rosie la, that one is outright tipu already
Bumi-only contracts
Restricted vendors list a.k.a. nominated vendors
Direct nego contracts
This is the norm here esp in gomen and GLC procurement
If u get such contracts yet cannot earn fat profit, then you are really a waste of milk powder and pampers to raise as a human
2021-07-10 16:36 | Report Abuse
Last price 1.76
Latest annual dividend 5.0 sen
MMC has history of steady, if not slowly growing dividend (last year was 4.5 sen)
Let's just assume stagnant at 5.0 sen, and you get "trapped" at current price when the privatisation doesn't proceed ahead
0.05 / 1.76 x 100% = 2.84% dividend yield
Similar to Westport's
Of course I wouldn't be buying in for the 2.84% divvy yield
But this yield is not too bad, "IF" you get trapped
Good luck all
2021-07-10 16:23 | Report Abuse
@Steady Punpipi shoplot auditors will never understand GLC and MNC businesses, shoplot auditors only good at doing tax and accounts for small time kedai runcit and restoran, where u sell RM10 u get RM10 cash flow immediately
2021-07-10 16:12 | Report Abuse
Bodoh naysayers, going to the extent of personal attacks
HAVE I EVER SAID THAT I'M A GIRL? NO.
Seeing things that are not there, hearing things that were not said, perceiving things that never happened.
Go see doctor la.
Contract budgeting
Selective tendering
Direct nego contracts
Bumi co
Petronas vendor
Milestone billing
Contract accounting
Cost plus contract pricing
Cost escalation clause
Forex hedging
I'm not saying that Serba did all of the above, I merely said that all of the above is NORMAL in the industry that Serba is involved in.
Tak faham lagi? Gi Google.
2021-07-10 14:15 | Report Abuse
Yala better I go prepare my payments to my subcons now than layan such ppl XD
2021-07-10 14:14 | Report Abuse
Hahahahaha orang dah kasi facts lagi nak cari gaduh. Aiyoyoyo~
2021-07-10 14:13 | Report Abuse
Contract budgeting
Selective tendering
Direct nego contracts
Bumi co
Petronas vendor
Milestone billing
Contract accounting
Cost plus contract pricing
Cost escalation clause
Forex hedging
Apa lagi cina mau???
2021-07-10 14:09 | Report Abuse
Hahahahaha tak faham faham lagi
Kelakar la ni
2021-07-10 14:06 | Report Abuse
Another very important factor
Serba is bumi
Serba is Petronas vendor
These 2 points already very strong for them to be able to price their jobs so that they can maintain their overall PAT margin. Probably they landed some of their jobs on direct nego basis too.
2021-07-10 14:01 | Report Abuse
No need RM50K salary punya accountant but work in construction/engineering punya senior accounts exec also will understand what I've been saying la aiyo hahaha
2021-07-10 13:51 | Report Abuse
Tak pernah dengar cost escalation clause in contracts?
You doing O&M, EPCC, you are not doing korek dan jual petroleum. Minyak naik turun ada apa kena mengena dengan you?
Never heard of currency hedging techniques?
Hahahahaha
2021-07-10 13:48 | Report Abuse
Hahahahahaha lucky none of my auditor's punya surname is "Huang"
Else I will ask my CEO remove my auditor like how Serba fired KPMG too
2021-07-10 13:45 | Report Abuse
That is why Huang is not a CEO or CFO lo
2021-07-10 13:45 | Report Abuse
If my company has been delivering 15% PAT margin regularly.
And we're not desperate for jobs.
And my CEO go tender for a job that can only net 8% PAT margin.
My Board gonna give him a frying good time at Board Meeting.
Why is this so difficult to understand?
2021-07-10 13:37 | Report Abuse
You know your staff salaries.
You know your material costs.
You know your fixed overheads.
You know your PPE depreciation charges.
You know how much interest your lenders charge you.
You are a listed co. You are answerable to your shareholders. You have been distributing dividends so regular that it has somewhat created an expectation in your shareholders.
E.g. recent past dividend yield of your stock is 6.0%
If there is a job that will give equity holders earnings yield of less than 6.0%, you wouldn't accept it, you wouldn't even tender for the job.
Hard to understand meh?
2021-07-10 10:28 | Report Abuse
If you understand concept of contract budgeting and industry tendering process, you would understand that it's perfectly normal to maintain your profit margin across different jobs
If you understand milestone billing and contract accounting, you would understand there will be a mismatch between earnings and cash flows
2021-07-10 10:23 | Report Abuse
Accountants do and understand the numbers
CEOs know the business
Armchair auditors and investors, if you know the stuff of accountants and CEOs, you wouldn't need to be paying them high salaries to do their job.
2021-07-10 10:21 | Report Abuse
Armchair accountants and auditors duno contract accounting and contract/engineering industry
Tak faham apa itu cost-plus pricing to include financing costs in budget costing
Tak faham system of contract tendering where if margin not to liking, can choose not to tender for a job
Tak faham milestone billing concept
2021-07-10 09:34 | Report Abuse
JJchan worked in Hong Leong Industries ka?
2021-07-09 23:22 | Report Abuse
I rest my case la
Not in to win. My opinion is shared and that's it
2021-07-09 23:21 | Report Abuse
Which part of "pricing in financing costs" that you do not understand?
2021-07-09 23:12 | Report Abuse
My company when doing tender, we price in banking and finance costs, if that's what you're asking.
2021-07-09 23:10 | Report Abuse
This is how engineering and construction firms get mismatch of earnings and cash flow. It is perfectly normal.
2021-07-09 23:08 | Report Abuse
Contract Value RM200m
Budgeted Contract Cost RM150m
You spent RM75m
Accounting, you can recognise 50% revenue i.e. RM100m revenue
But the contract billing is on Milestone basis, i.e. complete 1 Section you get paid RM50m
There is Section A items, e.g. the East Wing
Section B items, West Wing
And Section C items for North Winh, and Section D items for South Wing
Let's say each Section worth RM50m
But if the RM75m you spent, you completed PARTIALLY all the Sections i.e. none is FULLY completed
The client gonna pay you ZERO. ZERO cash inflow
But accounting wise, you are PERFECTLY CORRECT to recognise RM100m revenue
Welcome to Contract Accounting
2021-07-09 23:02 | Report Abuse
Huangbk72, u never audited or worked in construction/engineering firm before? Ever heard of cost-plus pricing?
If you have the competitive advantage i.e. your services is well sought after, you CAN price your job tender in a way that maintains your profit margin, by pricing in your finance costs.
See concession business like Taliworks for example, they fork out a large chunk of money first, then accounting wise depreciate it over the concession period.
Construction contracts too can be lumpy, you recognise your revenue as you incur your costs, in percentage of completion basis. You have your revenue, but your client are not paying you according to revenue you recognise in your accounts. Go Google what is meant by "Milestone Payments".
I work in engineering/construction, and I do the accounting.
2021-07-09 21:24 | Report Abuse
Those that are not interested in Serba, save your breath and time la
Such irritating pests
Unless you are here to spread negativity so that you can short it
2021-07-09 19:33 | Report Abuse
Wow, early first dividend for FY 2021!
Results must be quite good for Board to announce first dividend so early. Must add next week!
2021-07-09 17:52 | Report Abuse
@Steady Punpipi but this quarter no dividend
What u think about this?
2021-07-09 17:44 | Report Abuse
@idunwork your statement is partly true
Atrium Shah Alam 4 just acquired, yet to have tenant
Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BERHAD
2021-07-12 21:39 | Report Abuse
Cannot la, I still love my bakuteh and Guinness, cannot be like Karim XD