All. Isn't it enough? Limit down 30% a lot of people making big losses. Among them, many are not gamblers or speculators. Why you are so happy to see others making big losses?

For those who are negatives on Serba, what's your motives?
If your motives is to make sure investors could make informed and right decision, good on you.
If you feel excited to witness losses by many, irregardless whether they are gambling or not, then you are no better than those crooks you try to attack

https://klse.i3investor.com/blogs/windy1974/2021-05-03-story-h1564258777-Serba_Dinamik_Top_Favorite_O_G_Counter_By_Analysts.jsp

https://klse.i3investor.com/blogs/windy1974/2021-05-03-story-h1564258777-Serba_Dinamik_Top_Favorite_O_G_Counter_By_Analysts.jsp

https://klse.i3investor.com/blogs/windy1974/2021-05-03-story-h1564258777-Serba_Dinamik_Top_Favorite_O_G_Counter_By_Analysts.jsp

Stockraider. I target to list my company in 8 years time. Lesson learnt.
Hope for i3 forumers support by then

We can all learnt from this fiasco. What have i learnt?
1. Make sure i don't use same company secretary for companies
2. Make sure i use different phone number
3. Make sure i fire my incompetent CFO. I did ask him to save money but not to the extent that use same phone number. It's a classic case of you pay peanuts you get Malaysian
4. Make sure i employ cyber troopers to delete news in google search which is not in my favour
5. Make sure i stay under the radar and get someone else to attend overseas interview
6. Make sure i don't use the Big 4 or Big 8. Should have use a mickey mouse audit firm like many in KLSE. But cannot since i am now worth 6B
7. Make sure i split my business so each market cap less than RM1B, then i can use mickey mouse auditor
8. Make sure i get St Mirren or whatever islands that i could enjoy my retirement

Thumbs up. Let's make i3 forum a place for the intelligent and not retards.


The St. Goreng Need clarification from real Serba investor

https://e-serbadk.com/serba-dinamik-unit-gets-rm1-47b-job-to-build-dat...

Is this Future Digital Data Systems L.L.C (FDDS) related to Block 7 Innovation LLC?

https://e-serbadk.com/serba-dinamik-wins-us1-78bil-contract-in-uae/

Perform a background check on this phone number +971 2 550 4023
https://www.google.com/search?q=%2B971+2+550+4023&oq=%2B971+2+550+...-8

Search Results:
1. EFIRE: https://efirecapital.com/contact/
2. Block 7: http://www.block7investments.com/
3. FDDS: https://www.fdds.ae/
30/05/2021 10:03 AM

Yes, you are right. As i said, my accountant and auditor work for me. If you don't like it, get out haha.
When my auditor found something that need to be addressed, my auditor will "advise" me what to do haha.
But of course la, i am an honest businessman so no fraud. wink wink
Truth is, my company is too small auditor won't have to give me face haha. But i still can fire them


joyvest the auditors are not bloodhound but watch dogs. They conduct their process of audit based on the information and explanation given to them by the Management . If the Management has the intention to fraud by presenting the wrong or misleading information and explanation to the auditors, there is nothing much the auditors can do provided that they carry out their audit in accordance with their auditing standards.

If however, they discover irregularities through their process of audit , they must highlight to the attention of the Mgt for further action. the Mgt just cant turn a blind eye to the irregularities. the auditors owe a duty of care to the stakeholders at large as a professional .

Well, while you blame Serba, we can't let KPMG off the hook so easily. If this is indeed fraud, then a failed account graduate like me also can smell the stink, KPMG auditors cannot??
Either you are just incompetent or you just turn a blind eye for the sake of fees.
Now, at the end, this is just speculation ok, Serba is innocent till proven otherwise

If you really wanna talk about problematic companies in KLSE, countless. Why this keep repeating? Because Malaysian don't care. They are gamblers and not investors. To be fair, this happens in Taiwan and HK too, but to a lesser extend. Because their SC do take actions after rakyat make hoohah. In Malaysia? Wait for 3 months and rakyat would forget about it. So, while we point fingers, we ourselves are responsible too

Since i have opened the can of worm, i would highlight Awang Daud too. So called Serba co founder. Are they really experienced business man with gold finger?
Awang bought into Sealink. Why would someone buy into a company with outdated vessels and can't rent out to clients?
Awang bought into Transfame. Now under court order for creditors (don't know the legal term for it)

Now, how about Kpower? Do you find similar pattern after Karim bought in? Majority overseas projects and very vague information available?
When you find regular pattern in irregularity, it's something you need to look into

ChefKarim another crook. Malaysian chef but ang mo face haha

Charles T very smart. Must be a crooked businessman like me too haha.
Charles, why not you set up few more Abu Dhabi company and award RM10B contracts to me? Then we sell it for RM100M and split half?

Now, to be fair to Serba, i am also suspicious of Ocean Vantage. I didn't highlight this company because it's just 100M market cap. Very impressive and consistent QR too. Now, i don't know this company well but the first thing that raise my red flag is their HQ. A RM60M turnover company and the HQ is a 1200sqft 2nd floor office in Miri. Now, i don't mean you can't do RM60M with such small office BUT VERY UNLIKELY.
Also, what's suspicious is their turnover growth right before listing.
I will leave it to Chef Karim, whether the books are cooked

Haha. Chef Karim. I enjoy your cooking show a lot

You would find similar patterns in their projects annoucement.
1. Vague details on who awarded the contracts.
2. Not much details online when you google companies awarding hundred of millions or billion contracts. Eg. Future Digital Data Systems. (website not even updated, and this is RM1B contract. Not much info), Block 7, (Karim owned. Makes up 50% of Serba outstanding order book),

https://www.nst.com.my/business/2021/03/672367/serba-dinamik-bags-five-contracts-india-indonesia-worth-rm409mil
https://www.fdds.ae/#chairman_message
https://www.thestar.com.my/business/business-news/2020/08/06/serba-dinamik-secures-rm147b-abu-dhabi-contract

Now, all these information are found from googling. Thanks to google god, noone can say they don't know now.
Of course, majority of players in KLSE are not investors anyway, and they are well aware they are just gamblers. So, you deserve the outcomes. You gamble, make sure you can stomach the losses.
I highlight Serba because it's a RM6B company and a lot of genuine investors. I would have invested in Serba too if i am not from O&G back ground and heard of how it operates

I disagree this is the modus operandi

rkgfantasy From what i see the Special Independent Review
i roughly understand how Serba get project so easy
very typical GLC win win strategy
let say 100m project
serba tender with 120m, and promise to use the “supplier or related consultant provide by the project owner”
than Serba will appoint a professional sub or main con to do the job with 85million price tag
20m surplus consultancy fee will give back the insider project owner
serba earn 15m as a middleman, the subcon get 85m to do job
3 side win win....

that why when come to audit... look a lot of fishy, but this ain’t how those company doing ?

Full lock down. I have got time to read forum and wait for your insightful audit experience sifu Men Stock muak muak

Ah. This sounds like an ex auditor.
I still waiting for Men Stock sifu feedback :)
Just88. I am the author of a blog on 3rd May 2021. See whether it's reasonable from a non account back ground person? (failed to graduate as an accountant)
Who knows, maybe because of my blog, KPMG dares not sign off anything again otherwise they will get the shit like in 1MDB?


Just88 From an ex-auditor;

"My opinion on Serbak : The issues raised by KPMG are not actually only raised to the management on 3 May 2021. The date represents the official date to which the issues were brought to Serbak after months of deliberation but still remain unacceptable by KPMG. These audits were carried out as interim audit where the emphasis of the audit is on the authenticity of the transactions instead of the accounts itself. Audit procedures were carried out to verify the identities of the customers and suppliers and the nature of the underlying transactions. These procedures were normally carried out 3 months before year end account closing date. Therefore, the company and the auditors have been working on these irregularities found by the auditors for more than 6 months but unable to resolve the matters to the satisfaction of the auditors. From the company's announcement, it seems to most people that auditors are unreasonable in solving the matters but not to me. Auditors are generally tolerable and acceptable to explanations by the management but why aren't they towards Serbak ? As mentioned, KPMG have been its auditors since 2013, so the auditors is well aware of the businesses of Serbak. If they are not comfortable now, it only means that the risk involved is too big for them to tolerate now. Remember Transmile's auditors only raised the red flag after 3 years of audit. Personally, I agree with the irregularities found by the auditors and I found management responses hard to swallow."

Men Stock sifu. May i know, from an auditor perspective, how you detect whether a company accounts are cooked? What's the tell tell sign?
I am sure someone with your vast experience could provide some guidance?

Men_stock This is a real joke ! I am an auditor by training . I went thru the Independent Review. It is clearly an insult to my intelligence. I am pretty sure that this is a case when auditor juniors being sent to clients as their training ground whereby the boss are busy looking for more clients & too busy to look at audit findings. DISGUSTING!!!

Brian. I know you are brainless but no need to make it race specific. Transmile and London Biscuit were managed by Chinese. Karim is a Chinese Muslim convert. Before investigation out, don't hide behind your key board and called names

if you are holding Serba shares, don't listen to any positive or negative forumers here. Whatever they said most probably not out of good intention including me. Hence, evaluate yourself.
1. The 1 asks you to dumb dumb hold, how you know he is not trying to sell at better price?
2. The 1 asks you to sell, how you know is not trying to buy cheap?
My suggestion to you. If Serba account got problem, it's not even worth 0.70.
If Serba account no problem, it's easily worth more than RM2 or even much higher.
So, you wanna wait for 3 months to know the answer? It's your choice

MiaoMiao7. If 3rd party found nothing suspicious after investigation, i will buy Serba up to RM2.
Condition is that Serba needs to engage a reputable 3rd party independent investigator.
As i said, audit firm WORKS for me. Cos i pay their fees. You not happy, i change auditor.
From below statement, KPMG would have unofficially requested for certain documents and Serba didn't provide. Hence, in May, they have to make this official otherwise the blame would be on KPMG. Now, if i am the account manager in KPMG handling Serba audit, this is what i gonna tell their management. Look, we found risks that we can't brush off and since you can't provide me evidence, we can't sign. BUT, if you could get a 3rd party investigator to provide a report that everything is in order, then we can sign off. Since, the responsibility now lie with the 3rd party investigator. So, the reputation of the 3rd party investigator is very important in my opinion.

"We understand from management that as part of its annual audit process (start: October 2020), KPMG had requested Serba Dinamik for assurances on risk factors. The latter was identified earlier in April 2021 and officially submitted to Serba in early May 2021," TA Research said.

MiaoMiao7 Market sentiment for Karim stocks are bad, however if after auditing they found no problem and kmpg and the new external auditor also approve, then the stock will fly as it clears all doubt about it. Since Karim is already at this stage, he might as well order an external audit of kpower and scib to clear all doubt once and for all, then all stocks will fly after that.... provided that everything is in order.

Actually, from my collection, apart from Transmile, also London Biscuit.
What i highlight below is not targeted at any company in particular but as a general guidelines. Any companies in KLSE could be a suspect and auditors and bursa should be accountable for failures like Transmile and London Biscuit. Btw, was any auditor being sued in 1MDB case?
How to identify irregularities in companies? (My opinion)
1. Profit margin. What's the average profit margin of the said industry? Red alert when the margin is significantly higher or lower than the industry average. Significantly higher - then you better study why? Technically superior? Or better managed efficiency? if not both, then fishy...
Lower margin than average. I am ok if still profitable and compensated by volume. If making losses, forget about such companies. Will die out due to incompetence.
2. Keep venturing into unrelated industries. What, you think you are Elon Musk??? Btw, i personally won't buy Tesla. What's their competitive advantage in EV world when everyone's launching EV? At same price, you buy Tesla or Porsche Taycan?
Eg. many companies venture into gloves. So easy meh? I know many people are loaded with cash. If cash alone can solve problems, then everyone a billionaire. For me, those venture in gloves, Mah Sing has high success rate. Because Mah Sing started with plastic pallet business. Still different from glove but better than many companies lah.
Even companies in O&G industry are specialised. Not easy for an O&G company to cross into another discipline and make money. What more different industry? You think play monopoly? Yes, 1 can be successful too but i think 2 ways.
1. trial and error period
2. get instant success by buying up companies. However, you still need to pay school fees for a period of time to learn the trade...

Agreed with my arguement above?
The audit result won't be known till August. So, supporters or naysayers, whatever you argue here are pointless. Wanna prove to other parties, let's do your study and find some facts

Walau eh. Wesak day is boring day. I just read this from CNBC business website. Do you know that nowadays, Malaysia is never mentioned in their news? Another proof that Malaysia Boleh.
I miss you Dr M

In Southeast Asia, markets in Indonesia, Singapore and Thailand are closed for a holiday on Wednesday.

Below is the definition. Simply put it, i am a business owner so my account and my auditor actually WORK for me. If you don't, i just change you. Very rare auditor would issue such warning. By doing that, an auditor already expect to lose this client forever. If it's just some minor fraud by account, this would have been announced. Cos if i am running the show, as long as it doesn't involve me, ok bah.
Remember how auditors resigned from 1MDB?
My experience as a business owner, auditor would just close 1 eye as long as they don't think the matters are too serious. At the end, they just want fees. They are not really the righteous overseer of wrongdoing to protect share holders right.
It's natural for people to defend Serba if they hold shares in Serba. If you are the typical Malaysians who dwell in KLSE and buy whatever stocks you deem can go up irregardless of the business, don't read into this too much. However, if you are a real investor then you might wanna think twice about your investment.
I am surprised many people always use EPF as their arguement. With the money EPF has, they would invest in virtually all the biggest cap companies in KLSE


Meaning of a Statutory Audit
A statutory audit is a legally required check of the accuracy of the financial statements and records of a company or government. A statutory audit is intended to determine if an organisation delivers an honest and accurate representation of its financial position by evaluating information, such as bank balances, financial transactions, and accounting records.

ya lo. Mike and SSlee. Take your gaduh to Insas or PA forums lah.

i am all ears to hear about how JAKS ALP being a conman. Unfortunately, after me repeating calling for people who claimed ALP conman never gave further details. That's why, online forum give cowards a place to show their existence in this world.
If JAKS not giving dividend, the share price will reflect it with lower valuation. As long as Malaysia gets more educated investors, the market will determine the eventual price.
I actually believe Malaysia has more educated investors than you think. Otherwise, Insas won't be selling at 0.765 when it's net cash already 0.89. I wonder how Insas boss gonna use that money? Private jet? O no, Insas has a good CEO who is polite but then raise money from share holders even though they are flooded with cash. That's called good management and helping share holders?

i am really impressed with JAKS share holders because they don't retaliate like other i3 companies forum. Thumbs up.

The immediate question for many who waited forever would be, should i sell?
What's the hurry since QR is around the corner? Worse case you are still collecting a 6-7% dividend yield.
For those chartist, the next resistance is RM18. Don't sell after break resistance unless drop back below RM15. With volume today, i doubt this would happen

you gotta ask lawyer or international auditors. Too complicated for me.

Kuangyoa. I got my info by googling. I didn't do comprehensive analysis on Serba since i don't intend to own any Serba shares. The relationship between efire, block 7 and serba was found in news via googling. However, when Serba annouced in April 2020, Serba never mentioned their relationship. You could only find out this information in much later news thru middle east news report. I personally will question such irregularity. This is not proof of wrong doing.

shorter. Not much info was revealed about Block 7 by the annoucement in April 2020. If indeed it's a Abu Dhabi registered Block 7 awarded the contract, then it's not dissolved. Your link only showed an Abu Dhabi address and not much else. A US registered company and one registered in Abu Dhabi would be a different entity. You can't transfer rights like that.

Ok. i gonna give my tp. RM10,000

My father was burnt badly in the 90s with his retirement money and till today, he still feels hurt. In the old days, limited information is available even if you wanna learn. Nowadays, with google god, 1 has only him/herself to blame for his ignorance. However, i would just wanna share my knowledge which is not necessary correct. Financial market is my interest (i am money face) and i spend at least 1 hour daily reading financial news for almost 30 years. Still i am an amateur.
I am not saying Serba sure is con job, i am highlighting the possibility by logical arguements

MiaoMiao. what you pointed out to rkg is correct. Only that you pick the wrong example. Maybank market cap is indeed bigger than PBB.

Promotion time. Yeah BAT has scaled new height not seen since Dec 2020. Now, that's before pandemic. Chart wise, unless it drops below RM14, otherwise the uptrend might continue. Haha, all the sudden i sound like a chartist.
Now, i gotta declare my average cost is less than RM11 and i am promoting because i don't intend to accumulate more shares and would like you to push up the price. Apart rom capital gain, i am looking at dividend yield. 50% of my share holdings are in dividend stocks because that's what i gonna rely on after retirement.
Gonna dispose of my properties portfolio before i retire at 55 because it's just too much nuisance dealing with real estate agents especially during the pandemic. When i retire, i just wanna travel the word with no worries

Btw, just to let you know, Teluk Ramunia won't see immediate financial impact for Serba. It's meant for Serba to bid for EPCC job in Malaysia just like Sapura, MMHE, Muhibahh in West Malaysia and Oceanmight (KKB) and Brooke Dockyard in East Malaysia. Teluk Ramunia can cater for small well head typically RM100-200m in value. The most, it could generate RM300m - 400m if Serba sapu all. It's a big deal for companies like Oceanmight (KKB) but kacang putih for Serba's current market cap. Also, it's something that Serba has zero experience. You don't become expert overnight.

Now that most of the major projects are almost completed, such as Teluk Rumania, it will generate positive cash flow. But this doesn't mean investor will price it highly.

MiaoMiao7. Yes, you are right. You mentioned 1 past month so i didn't check earlier annoucements. I didn't add up the total accumulation but indeed thaat's a lot. So, this is a positive to Serba shareholders. How about my arguements below? Does it make sense?
1. Why Serba never revealed Karim's interest in the RM7.7B project? Now, as a married man, if i am seeing other woman and didn't tell my wife, my wife gonna be pissed with me and gonna question me why i didn't tell her if i got nothing to hide? From my findings, Efire or whatever has a authorised capital of USD10m. Now, from my limited dealings with bank, no way even to get RM700m loan. How to finance the construction? Also, this is a private project, not government, so means if noone buys, it could fail. So there are execution and business risk even if contract is genuine. Agree?
2. Block 7 Investment showed dissolved. Unless it's a different company. That's not for me to find out as i have no Serba shares.
3. I can't remember whether it was 2019 or 2020 but i believe it was during pandemic. I saw news of Serba in CNBC. Now, CNBC is an American business news network that i go daily. Naturally, i was super impressive. The title was like "Serba ventures into VR for O&G". After clicked into the news, it was about Serba having a amusement like VR park which i saw in Genting. Then, i realised it was a SPONSORED CONTENT. Now, why on earth Serba wanna waste such money on such contents? Ego like Tan Sri Lim of TG?
The other company which i regularly saw SPONSORED CONTENT during pandemic was Green Packet. That time it was selling for RM1. You know how much the share price now? The sponsored content was in THEEDGE. Why on earth GPacket wanna waste such money in THEEDGE? For benefit of shareholders? I think i know the answer. Do you? And do you agree with me it's fishy?

SSlee. I agree with JAKS reply to you.
Btw, apart from JAKS, do you question other listed companies? I still don't see any wrongdoings in JAKS yet but i can see so obvious misconduct in other companies. If you just raise your queries to JAKS, that's not called advocating shareholders rights. That's selective and i would have to question the genuinity of your concerns

Btw, i am not calling buy on Sapura cos Sapura OMV is just part of Sapura. I am eyeing Sapura

Firehawk. O&G has recovered and will strengthen more, no doubt. Immediate beneficiaries are top Hibiscus and Sapura thru Sapura OMV.
Now for those involve in maintenance and services, yet to be seen. My favourite in O&G maintenance is Dayang and they are loaded with jobs now. However, their margin will be squeezed due to extra cost from pandemic (eg. Dayang is putting their offshore workers in hotels long term due to pandemic and interstate travel restriction etc) I won't buy Dayang at current price personally.

I notice Sealink is actively traded recently. I don't know what's the news but for benefit of JAKS forumers, if you wanna buy Sealink as investment, i suggest not.
Sealink's main activities are ship building of mainly O&G vessels and chartering. For O&G chartering, even when O&G recovers, which already begun, Sealink vessels already obsolete and can't be chartered unless upgrade or refurbished. So, whatever assets are worth shit. As for ship building, that's still a ray of hope but Sealink mainly build their own vessels.
Sealink major shareholder should be about 80. His successor? I am not optimistic
Do read audit firm's report on Sealink being going concern

MiaoMiao7. I agree with your arguement. Typical dodgy company, the controlling shareholder won't increase their shareholding substantially. However, i had a check via Bursa Malaysia company annoucement and the only news i saw on Karim actually was him selling shares, not buying. Now, i presume your arguement on Karim buying is via simply wall street? I have seen reports in simply wall street. I believe simply wall street reports are done by AI. My understanding, could be wrong, any majority shareholders with more than 5% need to inform Bursa for any buying or selling of shares. I can see EPF, KWSP but not Karim. You can use link below to find any companies official annoucements
https://www.bursamalaysia.com/market_information/announcements/company_announcement?keyword=&cat=&sub_type=&company=5279&mkt=&alph=&sec=&subsec=&dt_ht=&dt_lt=

As on your arguement about EPF done their due diligence. I am not EPF so i can't confirm but i doubt they do that. Even analysts that write report, most based their report on company management guidance. Eg. if you bought Yong Tai based on analysts optimistic reports, you would have lost your pants/dress. Simply because Yong Tai management has an optimistic projections on visitors number for Impression Melaka? Now, i am not in tourism business but i can count 5 fingers successful tourist attractions in Malaysia? I don't blame those analysts because most are young fresh graduates. (Hopefully not paid by anyone to write reports. This is fake news ok)

As on TG, i agree TG is a good company. However, worth buy or not depends on valuation at certain price. I don't post many comments and you can see that i suggest forumers to allocate 10% of their investment to glove companies in April due to uncertainty of covid. As on TG boss buying his shares, now this is my personal speculation. I speculate he did it because TG almost became biggest company in Bursa. It's an ego thing. Otherwise, why did he buy most when TG price was at the peak and his purchase reduced during March/April low? TG is a good company which i am monitoring

very boring for JAKS shareholder so spare me some time to promote BAT.
Although i am not a chart person but i believe actually BAT share price shows a lower low and higher high chart? Now enough with technical. let's talk fundamental
As recent as Jan 2019, BAT was selling at RM31. Now, it's less than 50% at RM14.56. Now, my understanding is that BAT profit takes a hit because of 2 issues. Nothing to do with change of customer habits
1. Illegal cigarrettes
2. e cigarretes

Now i know that BAT has or gonna launched e cigarette. Any sucess will be an added bonus because before this they were zero. And i know it's a good move because i saw many people are smoking e cigarettes nowadays.
As to illegal cigarrettes. I honestly not sure if authority has improved on their enforcement? As per BAT's MD interview, Malaysia's contraband cigarettes are highest in the world. Now, that's what i called Malaysia Boleh!!!
So, i bought BAT because i was trying to bottom fishing and betting that since Malaysia already No. 1 for contraband cigarettes, we won't wanna pursue further for super No.1 . So, any % drop would be a winner. So far, the share price seems to be proving me right leh?
In conclusion, assuming that Malaysia can slightly drop from No. 1 spot in contraband and BAT having some success in e cigarette, then hor sey liao lah.
Don't say i don't show you any shares to buy ah. Of course la, i don't need your money but if you could help push BAT up further and help my retirement, i TQ.
TQ for reading

SSlee. What's the funding gotta do with my 2 concerns on Serba?
My concern is whether the project or contracts are genuine or not and not funding.
When i read listed company annoucements, 1 very fast way for me to conclude whether i should further study the potential are contents of the announcements. In general, reputable companies would annouced contract awarded by which company right? Those that don't provide names or with names i can't find much information with google, then i immediately conclude it's fishy.
So, Ageson annouced billion dollar sand contract but the awarder can't find much info online. I say they are conman. Vivocon annouced huge sand contract too but it's a reputable china company. So, i am not sure whether it's a con job not. I did buy.
In fact, even though i am not an accountant, 1 way to find out is by cashflow and debtors. If show profit but all stuck inside debtors or low cash flow, it's a warning sign

i have added some additional comments targeting SCIB in my blog. When you find regularity in irregularities, you need to work on me. I believe this is what audit 101 teaches which i failed in UNI haha

Souljaboiiii. Sorry, i can't justify as i won't elaborate here. I am in O&G business and i am not here to make Serba my enemy. Simple thing is for Serba shareholder to query Serba management why it was not revealed Karim interest in Block 7? And if Block 7 info being "dissolved" true?
Just as i can't justify to you Dayang and Sapura are well managed company. It's all from personal experience. You can never judge management of company on audited account. i3 forum can be a more productive place if forumers from their industry can contribute their expertise instead of just chanting up or down