Mr Foong KM

I totally agreed with you that any decision/action can be challenged.
But there is such thing known as frivolous suit.

What dis Bursa did wrong?
KMPG highlighted irregularities in accounts.
So Bursa wanted an audit.
Bursa proposed EY and SD agreed.
EY briefed ED of SD and Bursa.
Bursa deemed price sensitive info.
SD said no.
Bursa did not suspend until Mr Karim dealt with the shares and warrant with inside info of SIR.

Just delaying tactic.
Bursa ask SD to use EY.
SD agreed to and made announcement that SD has appointed EY for SIR.
Normally among the terms will be EY to report to Bursa for independence and to prevent insider trading.
SIR came out in 30th sept if i remember correctly and ED of D and Bursa was briefed. Then SD not happy. Ask for hard copy which was subsequently given.

Meanwhile Karim deal with the shares and warrant.
Bursa took action to prevent insider trading.
Suspension was to ensure fair play.

all suspicious contracts with cleaning company terminated.
Maybe audited account can come out.
No need for auditor to verify debtors or WIP of projects.

Not so simple.
Banks financing SCIB will reduce facilities as it does not have so much projects.
What about debtors and stock purchased and WIP?

SD also want to injunction EY from disclosing SIR.
So you can deduct how good SIR will be.

did you not read that SCIB cancelled certain contracts with a dubai company.
Someone pointed out that the contract awarder was only a cleaning company.
Maybe need to clean up books for audit.
Good luck to SCIB shareholders

all this legal action is just a delaying tactic.
maybe be to cash out from related companies?

Haha
Just as expected.
SD sue EY.

So you can deduct what SIR will be.

you can not believe leno.
you can not believe mabel and gang.

Go read The Edge tomorrow on a detail chronology of events.
You can also read what Bursa and SD replied The Edge.
you will want to consider your position in all 3 companies.

Please note that appointment of EY and scope of work is approved by SD.
Pleased also give benefit of doubt to Bursa who should know their own listing requirements.
The OS is just a delaying tactic

one person complain you can say it is not true.
when 2 person complain, you can still give benefit of doubt.
when 3 or more complain, definitely there is something wrong

The inability to produce Audited Accounts, suspension of listing and the downgrade of rating are already event of default in all loan agreement

Low Yat Mentality

Don't believe when I tell SB and SCIB is bad news.

But also don't believe all the supporters who claimed that they have inside info.
Supporters who do not disclose real manes.

Go read The Edge which has more trustworthy standing than us
After reading you better decide to run.

Everyone.
Go read The Edge.

True.
But give you a chance to re evaluate your holdings in the other 2 related companies.

SCIB will be suspended on 9th Nov for sure.
Karim has said AR can only be out by end year.

Go read The Edge tomorrow on how karim handled SD.
Once read, I think you will be very concerned.

Go read The Edge tomorrow.
It tells how Karim is handling SD.

Karim has also said that the AR can only come out by end year.
So why keep speculating that it will come out by 8 Nov.

After reading The Edge, you will understand the need to run

Low Yat Mentality

I wonder why those defending SD and claimed to have inside info will want to post here.
If it is me, I just quietly pick the shares when it is dropping to make a kill and to laugh at all the comments by the nay sayers.

To full understand the picture, please go read The Edge tomorrow.
It will explain what is happening.
So no need to read all comments from both.

But once read, I think you will run for your life!

Some people will just tell you it is bad.
But never justify.
Even simple maths is better than just shooting off the mouth.

Rather than just say it is bad, give the reasons and let the crowd decide.

karim sold SD also when just about to suspend

Buy now, dividend coming!

Please go read The Edge edition today.
Give you a clear update what is happening.
Don't listen to all the pom pom girls telling it is fine.

In summary.
Bursa has asked SD to announce finding.
But SD say it is not complete and does not affect market price or investors.
Bursa must be not smart and does not know what affect market price and need SD to tell them!
So Bursa just suspend.

Well up to you to decide whether finding are positive or not.

The counter will be suspended for sure.
Bursa already informed that under ruling the audited accounts must be submitted by month end.
Karim has said accounts can only be done by end December.

Who said pp does not affect share price.
Isn't there more shares with the same earning?

you think company is so generous to cancel 4th tranche of pp.
ask yourself who is the person who have to take up the 4th tranche.
is it not more of a way out for the pp buyer

I think the coming qtr will provide a much much better P&L and cashflow.
so long long term borrowings are matched by long term cash generating assets, company should be fine.
The previous loses was due to lack of foresight in derivatives.

Low Yat Mentality

I got inside info, I keep quiet and not tell the public.
I laugh at all the comments while picking up cheap shares.
Shhhh. Don't tell anyone.

But after reading all the positive comments telling me got inside info and shares will fly, I start to believe in mankind again.

Haha
You buy all this BS!!!!

I fully agree not to waste time anymore.
It is a forgone conclusion...died!

If Bursa think it is good enough to be announced but SD do not think so.
What do you think the SIR will say.
SIR must be so good so SD worried that share go through roof that it need to be water down to slow increase in price.
Hahaha

only minority say goodbye.
For the main owner is business as usual except as a private company.
Stiil get fat pay with all benefits

It is so unbecoming.
What has ppl wife got to do with this.
All ppl are beautiful.
This is really hitting below the belt.
Ms Pucat say I got low yat mentality.
But this is really way below that.
Fight your battle like man

just buy the mother shares.
Dividend is round the corner.
Bplant has a good dividend policy in place.
Shares is expected to go up with the coming good result from record cpo prices

Low Yat Level.

Why don't we give benefits of doubts to KMPG.
They are professional and should know how to do their job.
Most professional are scared to die type of character.
Do you think KPMG is aware that all the shit will start falling when they report to SC. So KPMG must be very sure of their report before doing that.

Why did EY report has no conclusion?
Are EY not professional?
You it is so difficult to confirm some debtors and amount is so difficult?
EY can fly to Middle East with SD's authorisation to talk to debtors and confirm amount owing and to check on WIP.
Now audited FS and SIR are delayed.

Suspension of counter will continue until SIR is out.
If SIR is never published the counter will continue to be suspended and later de listed.
Majority will continue to run business while minority will be able to do nothing

you to the the middle east office of debtors.
you find an office in the back alley.
But find no one inside.
But based on accounting records, you see payment from debtors.
So how do you conclude.
It looks like it is there.
It also look like it is not there.
So no conclusion.
So SIR no conclusion, tell you a story for you to conclude yourself

Low Yat Mentality.

Wonder why Bursa insist SD make report after their representatives attended meeting on an incomplete report.
Wonder if SIR is not good and thats why SD need to ask EY to re look.
EY was to confirm some figures.
It is either there or not.
EY cannot confirm figures means EY cannot confirm it is there.
But also cannot confirm that they are not there.
Otherwise will be sued by SD like KPMG.
Like the great saying It looks like it is there.
But it is also like not there.

No need to think too much.
The records are so transparent, you can get good estimate of the sales figures which will be record high.
Just buy.
Go for Jtiasa, Bplant and Thplant...grossly undervalued

No need to guess.
Records are so transparent.
All big palm oil players will have good results.
Look at Bplant, JTiasa and THplant.
Still cheap

Bplant has nothing to do with it.
Maybank will settle in cash the difference.
Maybank just open betting centre.
pay 15 sen entrance fee and bet price does not exceed 68 sen.

Just buy the shares

I like it here.
Got some people imposing their views on us to insist people like me with low yat mentality to make money.
I am sure white will not become pucat later.
I put my money all in.
so confident lah.

SD management must have high regards for them.
Much higher then low yat level.
Buy ,sell according to their discretion.
Just ignore Bursa directive.
SIR must be very good so need extension to waterdown

yes.
it could be a red herring.
Karim gets RM4.2 mil but spend just RM350K.
Create the euphoria that the SIR is good.
While investor do not dump related counters so he can cash out.
I saw above someone mentioned that there was a big disposal at related companies recently.
Just my 2 sen.
I hope the best for existing shareholders

true.
close to market price.
might as well get mother shares to enjoy good dividend to be declared soon

truth be told, the major shareholder always win.
Get big fat salary, get benefit like driver, expensive car, gardener, unlimited expense account.
All partly paid for by minority shareholder who hope can get some dividend and capital appreciation.
For project companies, once hit with bad news will be difficult to survive as they depend on financing to complete projects.
I would rather wait for the SIR out before considering buy, make less but safer.
It is like casino now betting whether SIR is good or bad.
But like casino major shareholder is like house with a distinct advantage

The independent director from Bursa was include to give comfort to investor.
But he is paid by SD.
Maybe he has already cover himself by giving notice to BOD to announce but BOD has decided to delay

It is not Bursa duty to release SIR.
It is the company's responsibility.
Karim deal with shares and warrant pending release of report.
Bursa not happy as this can be construed as insider trading as report is finished.
So Bursa suspend counter until SD release report.
You interpret on positive note that Karim is liquidating the warrant to buy mother share as the report is good.
On the other hand , you can also deduce report is no good.
So Karim needs to get as much personal funds as possible. Karim did not sell shares as most will be tied up in margin financing. The purchase of RM350k shares maybe just a red herring as he pocketed RM4.2m from sale of warrant.
Karim maybe also buying time to dispose off related counters.
You may not be able to see this in change of substantial shareholder as the related companies did not file the changes or do a late filing.

Bursa had instructed SD to disclose SIR.
If SD does not it is subject to suspension and/or find and later de listing which is a long process

Just wrote that mother shares maybe fully pledged for margin financing so selling will not get karim personal cash.
Furthermore now concern had increased as karim is also selling in other companies like Kpower.
If SIR is negative, all related counters will also fall

dividend already factored into share price

people provide suggestions
Based on the justifications, it up to you as final decision maker to buy or sell.
If you have a contrarian view, please discuss with justification.

Win or Lose is your own decision.
Be a respected man and face the consequence of that decision.

Only people who suggest with justification will be respect, whether right or wrong. The other will be thankful for your views and make a decision thereto.

hahaha
maybe karim would have sold his shares also if the shares was not pledge for margin financing.
So only way to get personal cash is to sell warrant

we should all buy airasia.
pay creditors including passengers 0.1% only.
Other creditors have earn money from Airasia with supply of products or services.
Passengers???
Passengers pay money for tickets but when ask for refund as to wait.
After waiting pay u back 0.1%
Why don't TF and gang come out with private placement to help, after enjoying all the good times.
Passengers should join and take class action.
Every creditor should be given a debt/Equity conversion to enjoy upside

SIR no good.
Not Karim in trouble, SD will koyak

SIR is due soon.
If you know you done nothing wrong the SIR will prove it.
Then share will fly thru the roof.
The warrant will also go up.
Why sell if you are confident

If the SIR is negative, then there will be massive right off in debtors and inventories.
It will be the next AirAsia and not talking about whether share will be 50sen or 1 sen.
My guess is that the debtors are from related parties transactions.

Please see the number shares disposed off by Karim in the last few days

I think there is a misunderstanding on KPMG statements.
KPMG states it cannot verify the authenticity of some of the debtors.
The SIR is to clear this to confirm that the existing debtors are genuine.
The report will be out soon.

On the sale of the warrant, the purchase price will be paid to Karim directly.
Since the report will be out soon and if positive would it not be better to hold on to the warrant as the mother shares will shoot up in price.
I am not sure what the disposal of warrant has to do with syndicated project financing as it is dependent on the project only.
Since the funds from warrant sale goes directly to Karim, he may need to use to top up his margin account to prevent further forced sale.

KPMG resignation is a foregone conclusion.
How can KPMG continue to be the external auditor when the BOD decided to sue KPMG.
I am sure KPMG will have done some soul searching before making such statement to SC. KPMG is fully aware of the implication of making such public statement.
EY and KPMG are both very established firms and will have quite similar SOP in their audit standard. Message from EY audit finding maybe the same but written in a watered down version. The main issue seems to be the authenticity of debtors. I think KPMG will have used their Middle East Office to check on this.
Anyway, I wish good luck to all existing shareholders and hope the SIR will turn out well.

cerita dah keluar.
Price dah naik.
Now dah turun balik.
Ini oil & gas service provider saja.
Will naik only if got new rumour.