Karim wont be that dumb to give a media statement and photo session contradicting to his whatsapp claims right....

Most logical way of seeing this is Abu Dhabi govn awards to the JV (Block 7) and they subcon to ZonesCorp...

I think its a related party transaction which they denied in early 2020. This is possibly due to change in implementation plan during the course of time..

Posted by The St. Goreng > Jun 5, 2021 4:59 PM | Report Abuse

probability

In your opinion is this "US-based Block 7" a related or non-related party transaction ?

To SCIB & Kpower shareholders, by the way the Innovation Hub contract of 7.7 b is definitely not fake....

https://www.adports.ae/new-820000-square-metre-hub-to-foster-research-and-innovation-in-abu-dhabi/

Mohamed Al Khader Al Ahmed, CEO, ZonesCorp and Dato’ Dr. Ir. Mohd Abdul Karim Bin Abdullah of Serba Dinamik International Ltd and Block 7 Investments LLC, signing the agreement in the presence of Abdullah Al Hameli, Head of Industrial Cities and Free Zone Cluster, Abu Dhabi Ports, Eng Salah Salem Bin Omair Al Shamsi, Chairman, EFIRE Capital Holdings Limited and Hadef Salah Salem Bin Omair Al Shamsi, Managing Director, Block 7 Investments LLC.

its obvious the JV with Block 7 investments LLC would have Karim's contact and name and its the main contractor with subcon ZonseCorp

was the contact info of Karim appearing there - the fuss by KPMG?


Posted by probability > Jun 5, 2021 4:25 PM | Report Abuse X

https://www.adports.ae/new-820000-square-metre-hub-to-foster-research-and-innovation-in-abu-dhabi/

Mohamed Al Khader Al Ahmed, CEO, ZonesCorp and Dato’ Dr. Ir. Mohd Abdul Karim Bin Abdullah of Serba Dinamik International Ltd and Block 7 Investments LLC, signing the agreement in the presence of Abdullah Al Hameli, Head of Industrial Cities and Free Zone Cluster, Abu Dhabi Ports, Eng Salah Salem Bin Omair Al Shamsi, Chairman, EFIRE Capital Holdings Limited and Hadef Salah Salem Bin Omair Al Shamsi, Managing Director, Block 7 Investments LLC.

@chef, true..what i am saying is the current valuation is already treating it like its a baby...at IPO level

this serba had been doing their O&M business more than 25 years ( i doubt its fake) before listing ....and now its almost trading at IPO price level....

7.7 billion order appears real...would the transaction of 2.3 b be false? would that be difficult to obtain? its not receivable to be worried

receivable is just slightly higher than usual collection period of 95, at 113 level

https://www.adports.ae/new-820000-square-metre-hub-to-foster-research-and-innovation-in-abu-dhabi/

Mohamed Al Khader Al Ahmed, CEO, ZonesCorp and Dato’ Dr. Ir. Mohd Abdul Karim Bin Abdullah of Serba Dinamik International Ltd and Block 7 Investments LLC, signing the agreement in the presence of Abdullah Al Hameli, Head of Industrial Cities and Free Zone Cluster, Abu Dhabi Ports, Eng Salah Salem Bin Omair Al Shamsi, Chairman, EFIRE Capital Holdings Limited and Hadef Salah Salem Bin Omair Al Shamsi, Managing Director, Block 7 Investments LLC.

....................

the above was on 24th April 2021, barely a month ago....

what is it with KPMG? company stamp not having a registration no.?

the above was on 24th April 2021, barely a month ago....

what is it with KPMG? stamp not having a registration no.?

https://www.adports.ae/new-820000-square-metre-hub-to-foster-research-and-innovation-in-abu-dhabi/

Mohamed Al Khader Al Ahmed, CEO, ZonesCorp and Dato’ Dr. Ir. Mohd Abdul Karim Bin Abdullah of Serba Dinamik International Ltd and Block 7 Investments LLC, signing the agreement in the presence of Abdullah Al Hameli, Head of Industrial Cities and Free Zone Cluster, Abu Dhabi Ports, Eng Salah Salem Bin Omair Al Shamsi, Chairman, EFIRE Capital Holdings Limited and Hadef Salah Salem Bin Omair Al Shamsi, Managing Director, Block 7 Investments LLC.

Is Zonescorp also a faking business like Serba? They have long established business in this region..

Find out about ZonesCorp who partners with Serba on the 7.7 b Innovation hub in Abu Dhabi

https://www.zonescorp.com/en/media-center/latest-news-events/news/2021/new-820-000-square-metre-hub-to-foster-research-and-innovation-in-abu-dhabi

They have delivered countless big projects earlier:


https://www.zonescorp.com/en/about-us

trend is only a trend till it changes...and when it changes nobody exactly knows for certain...as it mainly dependent on incoming new news...

wait a minute, is serba now trading at its IPO price?

ok...nerd auditor theory then

most welcomed...arguments from sifu charlest are the bests here...not like others without some logics in it..

Posted by CharlesT > Jun 5, 2021 2:58 PM | Report Abuse

I will do my best to post more bad news here for u to buy cheaper n cheaper

Buy me a bakuteh later will do

seek more info the better...i want to see if i can come out with some possible argument to refute all concerns first...

zelan - many businesses in UAE went bankrupt after 2010...

conclusion:
..............

naysayers hope it will crash to 0.62 ..so it becomes a buy then as it super cheap, a precious gem by then...but at 0.76 its damn expensive and a fraud business

i see there is a lot of prejudice on serba due to middle east negative perception created by 1MDB,,,and that they were making money under C19 condition in 2020 which in my opinion is expected from O&M services which are mandatory....

dont compare xinquan la...that even kids can figure out

calvin may come out with TP 0.19 under PN17

so you guys saying serba can only buy at 62 cents? or can never buy....

Post removed.Why?

i hold some SCIB shares...may be you can trust a little more now

Posted by CharlesT > Jun 5, 2021 2:41 PM | Report Abuse

I dont trust u anymore.

that junior auditor argument is because of invoice reg no requirement..

no...i make my judgement on facts...you present me with bond drop 70% ...i quickly sold at 80....but now...i am hungry for solid information...so that to decide if i can add in the near future...sounds logical enough?

sifu charlest...honesty 100% sincere...i held no shares of serba presently

Posted by CharlesT > Jun 5, 2021 2:35 PM | Report Abuse

Aiyo Probability what happened to u leh

I think.u r still holding yr shares..yet to cut loss

U bought a lot ah?

and by the way....its not that serba is trading at 2.40 under such oil pricing before covid.....

the price had already been severely punished by the 'subtle' hints by KPMG...

so, some level of balance in judgement is required...

even if senior auditor...i certainly dont like stressing on company reg. no on invoices and stamps...this is a big joke...

really ? i am emotional....u sound a bit pissed off with me...dont worry you may get cheap on Tuesday...i also want to get it cheap...just that i want to be sure before i buy cheap that it will go up eventually....

so relax

Posted by brian3381 > Jun 5, 2021 2:27 PM | Report Abuse

Tis waterfish probability must hv traped la. So emotional. Haha

i am thinking on both ways...as the devil's advocate and innocent till proven guilty Karim..

the most convincing reply of Serba to KPMG is that they are reading to have their clients interviewed via conference call...isn't that is showing a lot of confidence

there are of course some bad practise which Karim is hiding as he may stand to gain by the middleman entities (having direct ownership) explaining the reasons of delay in convincing KPMG...

but this may not reveal non existent businesses (as being perceived by market now)

what i am most afraid, the market is overly reacting to such subtle indication by KPMG with maximum prejudice....from prior conditioning made by the 1MDB saga

problem is i think Karim made a middleman entity as main contractor between serba and subcontractors...and he owns this middleman entity...

UAE govn has no choice but to pump into such investment generously as without such money flow, the country cannot sustain businesses....

chef, u underestimated UAE...check out how shindaga tunnel area looked like a year ago and how it appears now..

under covid condition in less than a year they built 6 x 5 star hotels there...



Posted by ChefKarim > Jun 5, 2021 2:07 PM | Report Abuse

Even a simple housing development will take years, this block 7 like less than 1 year already start pilling already. amazing. piling what? piling for the worker's quarter?

its public holiday there, u try on sunday and see

Posted by PSAi3alert > Jun 5, 2021 1:55 PM | Report Abuse

The number stated at the site was +971 2 5504023 . I tried calling but not reachable.

yes the entity is the primary issue...the rest is reaction based on concerns

the 3b in question is for the whole FY 2020 i suppose (30% of their annual revenue)...hope at least the remaining 70% they can verify


Posted by CharlesT > Jun 5, 2021 1:37 PM | Report Abuse

The crucial question is whether those Co in Middle East (related or not related) who gave more than 50% of theircurrent contracts are real or not

KPMG wrote in a subtle way. But investors are able to read the message between the lines...

Thats y u see 50% drops in mother shares n 70% in Bonds

charlest the bond sellers price is only drop 52% on asking price right?

https://www.bondsupermart.com/bsm/bond-factsheet/XS2089155761

in summary...i see auditor main concern is identity of those entity which made the transaction of 2.3 b , the entity with pending receivables...identification of some inventory and assets

by right serba should not have issues coming with verification on these...via a conference call with their clients

sifu charlest say i need to respect, you can take out my assertion there on junior auditor...it was all aimed to retrieve salient arguments from the naysayers...which till now i cant see anything concrete

https://www.thestar.com.my/business/business-news/2021/06/05/the-essential-role-of-an-audit

hopefully serba comes out open fast

i support both carlest sifu and philips...i am only here for the truth...

this could be either a jackpot like mmc corp i had or just a lure to get my fingers burnt

sifus....how to buy the bond? appears very attractive

will the bond holders have the same rights as debtors usually do upon liquidation of the company

will they be given first priority to retrieve their capital from whatever they get from assets liquidation?

ok naysayers win la... but till now i am still puzzled how such a basic thing - existence of a real customer has not been verified by the auditors

really amazing ability of Karim... even the 7.7 billion new contract....

to all kpower & SCIB shareholders, please go through in detail below KPMG query & Serba's reply. Details appears to be not that bad at all for SD....i see kpower and scib does not at all deserve this level share price punishment

https://www.theedgemarkets.com/article/kpmg-raised-audit-issues-transactions-involving-over-rm3-billion-says-serba-dinamik

LOL! I can only laugh...

i have also been audited...but sometimes the individual auditor make a hell of difference...