Hong Kong is a problem where the brit gave up a prosperous colony to a centralised CCP government in Beijing who had no experience in the democratic process, have no idea of a ruling democracy and will never surrender their control over the colony. It is like giving monkey flowers.

Posted by uncensored > Jan 1, 2022 5:49 PM | Report Abuse

He is wicked, evil, greedy & money minded.

But he is right on one thing, that is Hong Kong's democracy on ventilators. Now under siege by CPC.


>>>>
Posted by qqq3333 the Star today........Is democracy on ventilators by Andrew Sheng.

Andrew Sheng, a giant among men.

01/01/2022 5:22 PM

This is what is happening in Malaysia where democracy is unable to deliver, where autocratic populism hijacks the democratic process.

and definitely, it is a work in progress.............

In short, democracy as an ideal depends on the quality of institutions and if these institutions corrode, become politically captured or are unable to deliver what politicians promise, then democracy or whatever ideology is in power will inevitably be subject to change by peaceful or violent means.
and he went on to say......
Democracy is a work-in-progress, not carved in stone to be worshiped. Each country and community has to find its own form of democracy to arrive at what is best for the community as a whole. To survive, it has to meet the Darwinian test of evolutionary competition from many different modes of governance. Darwin never said the survival is of the best, but only of the fittest.

http://www.koreaherald.com/view.php?ud=20210510000208

There is no single formula or fixed template to raise living standards in each country, as there are restrictions and obstacles in nation-building. What is applicable in China is not necessarily good for Malaysia or for that matter any other country. If you let the majority of the people decide (that is democratic) do not mean that it will be good for the nation. Take EPF withdrawal and Brim payment, these are compromising members retirement funds and creating and increasing government debts without increasing productivity respectively.

Posted by qqq3333 > Jan 1, 2022 5:02 PM | Report Abuse

a lot of the human problems are caused by interference into other people business.

leave them alone, time will sort out their problems.

if not, its none of your business. None of serpenza business except he makes a living telling lies about China.

India is democratic but socialist in nature. But even though a free economy does not translate into a prosperous nation. A huge population and consumer market still cannot be an advantage for large scale production. Cultural and religious disadvantages, perhaps? Early communism in China could be advantageous by stripping naked all cultural and religious conservatism thereafter a ground zero start-up lesson in capitalism. Within 30 years, the result is obvious.

Posted by Sslee > Jan 1, 2022 2:23 PM | Report Abuse

Is India elected Modi's government work for the welfare of all its citizen or the elite, the well connected and the majority Hindu nationalism.

QO meant that the AR is not reliable and therefore not true and fair. For those who intend to buy after the suspension of the counter, the risk of SCIB going down is very very high.

At least when you buy in with the information that it is very likely to have a bad result in the future or a failed company and share price likely to decline further.

Posted by IdleMoney66 > Jan 1, 2022 11:53 AM | Report Abuse

Qualified opinion from auditor.

Who has the biggest stake in Serbak and to gain from fictitious accounting? Obviously, the only way for Mohd Hafiz to escape from the slammer is to become the prosecution witness.

Sslee Meanwhile, the group’s vice-president of accounts and finance Muhammad Hafiz Othman was slapped with an additional charge in the Shah Alam Sessions Court for allegedly creating fictitious sales, causing falsified revenue to be recorded in Serba Dinamik’s earnings report for the quarter and year ended Dec 31, 2020.

While Chef and his goons use the resources of Serbak to fight their court case and busy promoting Malaysia. Sounds and looks like Chef is a second Jibby. The difference is that he is yet to be convicted.

leno Sebak already DEFAULTED RM 2 BILLION BONDS
Now must pay RM 2 BILLION ringgit.

WHEN must start paying the RM 2 BILLION ringgit ?
The answer is 3 Weeks AGO.
31/12/2021 1:24 PM

Yes, remind me of the application of hudud law. Physical stealing is punishable by severing the limb or arms etc. But electronic stealing god got no answer to human's ingenuity. Thus the holiest of books do not have a solution to this.

Posted by i3lurker > Dec 31, 2021 11:16 AM | Report Abuse

Supermarkets always jails people who steals even a bar of chocolate to send a signal that stealing is bad

people who steals Billions always gets a "Tun" title


kakakakakakakakaa

May go to jail and really go to jail in 2 different scenarios. There are 2 sets of laws for the rich and famous or notorious and for the poor and ignorant rakyat.


Posted by superrr > Dec 31, 2021 11:07 AM | Report Abuse

Even individuals who falsify A/C can be caught and may go to jail, let alone listed companies falsify A/C and defraud the public...

A case in point was the CEO of Transmile, a fake invoicing act similar to the Serbak case that recently disappeared after going overseas and can't be traced. Not a day in jail after dragging the case in court for more than 13 years.

Posted by investor2021trading > Dec 31, 2021 10:08 AM | Report Abuse

pon pipi! what to argue? oredi warrant of arrest issued to top management, there will b many court case, they will b charged guilty n put to jail n a fine amounting to millions of ringgit!

Only Abang Jo or Semail can save Serbak and 2 other companies. The question is will they dare to do it? If not then banks and bondholders will take over Serbak. Dilute Chef and associates shareholdings terminate them and appoint an experience O & G CEO and new management team. All these take a lot of effort but who is going to provide further working capital as the O&G business is capital intensive?

Posted by amirf1221 > Dec 31, 2021 9:41 AM | Report Abuse

if internal has a problem. i have a question, will the company could still be saved when they changed a new one

new perspective and new view from investors and shareholders

Good morning, conspiracy to cheat meant that internal control was fully used for that objective. So there was no breakdown, it was used for any unlawful purpose.

Posted by i3lurker > Dec 31, 2021 9:23 AM | Report Abuse

Internal Control breaks down when there is collusion.

also if in any other normal company the CEO and CFO and all charged staff will be suspended immediately. => If they are innocent............

looks like both and "others" are unwilling to suspend themselves

kakakakakakakakakakakakakakakakakakakakaka

Tarah bising2, kasi amaran jer, kalo jualan jatuh teruk harga saham pon akan jatuh cam pisau tajam menjunam dalam masa depan.

investkl8 Apa bising bising sini?

TP 1.20 is reasonable once Q3 positive result out.
30/12/2021 8:55 PM

Wow, Lurker in your younger days you must have been an irritant and activist to be so scared?


Posted by i3lurker > Dec 30, 2021 8:45 PM | Report Abuse

This is so exciting !!!

threats from some people in this forum make this Serba sound like 1MDB all over again.

... threats to life and limb and also life sentences inside Jails.

in my younger days, I changed hotel rooms every nite



:)

I don't think the financial will recover after 80% loss of sales. Remember a chunk of fixed costs will still be there unless the management reduces fixed costs drastically before 30th June 2022. What then is the future share price trend will depend on when they can restore sales and if not the price can only go south.


Posted by newguy0801 > Dec 30, 2021 8:30 PM | Report Abuse

To me, I don't think it will be wise to assume that ATA won't take any action to overcome its loss of revenue. Yes, I agree that the current share price is definitely overvalued, but it is definitely justified at 0.3 - 0.4 based on fundamental analysis. With a relatively good financial health and experienced board, it sure has a good chance of recovery, but definitely not immediately to its former glory. So, just make your own judgement whether this form of investment is good for you or not. I can only confirm this counter no longer attractive for those short term traders.

You believe all the top management will appear in the AGM? Before the AGM audited accounts must be released. Now, where is the AReport>

Posted by Depeche > Dec 30, 2021 8:17 PM | Report Abuse

AGM coming.... they better mean it... don't leave their office without bombarding the mgt with hard questions.

Obviously, when millions "raid" EPF for their retirement money. Will extend UMNO lifeline as these people will have to vote for the government that provides more cash handouts forever.

How do you know to eat BBR? Maybe already prepared to be charged and planned their exit since got at least 6 months after the issue blow up?

Posted by piranha88 > Dec 30, 2021 2:10 PM | Report Abuse

I am waiting to see those who cheated eat black bean rice

Just wait when the Chef starts selling his stake. Many were like you in Serbak. Now cry no tears.

Ham5ter Yesterday investors panic sell, while long ago the stock already excluded Karim factor. Panic sell was not rational at all.

Time to collect
30/12/2021 11:14 AM

Laundered and kept in Abu Dhabi, the world center of money laundering. Jho low style, like kept for Jibby by Price (Prince) Turkey.

Posted by InsiderShark > Dec 30, 2021 12:13 PM | Report Abuse

hundred of millions send to middle east every quarter.... send to whom and what if those projects are fake. where are the monies?

I remember the stone master episode, the millions went on the round-robin to china and back.

Posted by shareinvestor888 > Dec 30, 2021 11:31 AM | Report Abuse

IF SC managed to show conclusive proofs that Serba did falsify as alleged in the charges, Then Next Big Question is Where did the Bank loans & Bonds Proceeds go to?

Who would then investigate Serbak’s Ceo & management on where the money from bonds & bank loans went to? Or impossible to investigate?

Yeah, bondholders should quickly get the Serbak house in order, the longer they wait more assets start to disappear.

Posted by shareinvestor888 > Dec 30, 2021 11:25 AM | Report Abuse

You are right @alenac…. Only bankers & bondholders sweating now because they know exactly how much Serbak owed them!

Everyone in Serbak cabut already. All top management sudah kena charge, sinking ship rats also want to jump ship. Who is going to do the compliance and announcement?

Posted by shareinvestor888 > Dec 30, 2021 11:20 AM | Report Abuse

No announcements from serbak on Total Bank Borrowings & Total Outstanding Bonds as at Today!!!

I think the default in coupon payment recently already meant a violation of the insolvency declaration? Any comment?


If the company were to be insolvent within 12 months of the last dividend payment, the directors can face criminal and civil actions under the Companies Act 2016 (Section 132 Distribution only if company is solvent and Sec 133 Recovery of Distribution).

Chef jual satay, all smoke no meat only stick.


Posted by Faiza > Dec 30, 2021 11:02 AM | Report Abuse

https://www.theedgemarkets.com/article/petronas-denies-collaborating-s...

imdb = imdb 2.0
similarity, all fakes

All kena caught here gone mad waiting for Government to rescue the company like paying Brim to rakyat. Ask Abang Johari whether he dare to save SCIB, Serbak and Kpower?

I am with you on this but there are still people in denial.

Posted by i3lurker > Dec 30, 2021 10:42 AM | Report Abuse

no way Serba can be rescued

shortfall of RM3.5 to RM4 Billion is too much

=> unless Govt wants to shut down all hospitals in Malaysia and sack all doctors and nurses and give money to Serba

Pitiful to lose money until can't think rationally.

Posted by Nikmon > Dec 30, 2021 10:34 AM | Report Abuse

what is rational to save SD?

AlsvinChangan quoted WHAT is wrong
" "The focus is to save SD but not "investors" "

SD may continue to exists AND maybe not but investors highly likely to loss money

Read also cannot understand Low IQ

Save Serbak from whom? Serbak is still alive just waiting for receivership.

You have a brilliant IQ, but you lose in Serbak? Can't sleep peacefully? Or are you an employee of Serbak waiting for the company to shut down?

Posted by AlsvinChangan > Dec 30, 2021 10:27 AM | Report Abuse

WHAT is wrong
" "The focus is to save SD but not "investors" "

SD may continue to exists AND maybe not but investors highly likely to loss money

Read also cannot understand Low IQ

Just wait when Karim 15% stake is thrown into the market. What price will Kpower sink to?

Are you confused and can't think properly? This is an investment forum and therefore for investors or shareholders of Serbak.

Posted by AlsvinChangan > Dec 30, 2021 10:11 AM | Report Abuse

muhfiq,treatshijau, hijau belalang

The focus is to save SD but not "investors"

Miss one, this ID kena charged ie Abu Bakar bin Uzir. Can figure why he claimed trial?


Posted by leno > Dec 30, 2021 9:57 AM | Report Abuse

Sebak Fraud Accounting Players

1. Mohd Abdul Karim Abdullah
(chief executive officer)
- furnishing false statement to Bursa Malaysia

2. Muhammad Hafiz Othman
(vice-president of accounts and finance)
- creating fictitious sales, causing falsified revenue
- submission of false statement.

3. Syed Nazim Syed Faisal
(executive director)
- submission of false statement.

4. Azhan Azmi
(chief financial officer)
- submission of false statement.

5. Muhammad Shafee Abdullah
(crook lawyer)

The last 4 independent directors that resign must be haul up to court and jail for abetting and cover up Karim Abdullah stealing and cheating millions of cash and producing fake profit in sebak account.
-Illyas Pakeer
-Johan Ishak
-Farid Hasan
-Siti Zaleha

Good Morning, all losers here. (whoever loses money). Nothing can be done to your investment in Serbak. Don't write long articles gloating over failed investment in this counter. Nobody can save you for your stoopidity.

Why worry for Chef? The whole top management should be crucified for cheating the public.


Posted by InvestorKING > Dec 29, 2021 7:42 PM | Report Abuse

And again, just wondering whether Karim or his management later can take any legal action against SC for their abuse of power for wrongly allegated them for this?

hahahahah this guy is ignorant. Even 1 invoice false can charge under the Act. 6 billion false sales figure provided by Serbak management where the actual is lower, that figure misleads the public that Serbak is doing well. No need to wait for an audited figure, if not mistaken, any quarterly report is a statutory declaration. Just like tax returns, the form is a statutory declaration and any taxpayer who fills in the wrong figure has committed the offence under the Income-tax Act.


Posted by InvestorKING > Dec 29, 2021 7:33 PM | Report Abuse

Three funny parts:
1. Why after so long (after 6 months) then only charged?

2. Why SC charged SD and higher management and Karim for RM 6billion false sales? I thought EY already confirmed that 3Bilion++ already verified in Malaysia, and left only 1.4billion in oversea remains unverified? (Previously kpmg claimed that only 4.54billion were suspected, but now is 6billion????) What a joke???

3. And why this SC charging without waiting for the final audit result, but DPP already charged them for 6billion false sales revenue??

No need to find out, just 1 fake invoice can also be charged.


Posted by shareinvestor888 > Dec 29, 2021 4:51 PM | Report Abuse

https://www.theedgemarkets.com/article/sc-charges-serba-dinamik-vp-acc...

Curious how much revenue is not false then?

Word has it that Jho Low whole family is protected by Chinese provincial officials. Of course, he has to pay to live there. But the amount of money he stole can keep those officials contented for life. Look at the conference held by Chinese businesses invite to Najib, you know they couldn't be bothered whether Malaysia lost in billion, to china warlords they are business as usual so do Ketuanan here as long as Brim is given. Money is everything.

superrr Yeah, But Jho low still get away with it and enjoy the endless $..

Displaying another "Najib" show. The passport is not impounded because have to go to the Dubai exhibition? Play golf to promote Malaysia. All convicted felons should go and promote Malaysia will be allowed to travel overseas as an ambassador of Malaysia.


“We brought him today,” he said, adding that several calls were made to the Attorney-General and Prime Minister’s Offices to defer the prosecution.

Shafee said this is because Karim will be attending a trade expo in Dubai next week to woo investors.

“Serba Dinamik and Petronas will be bringing in investment to the tune of RM33.9 billion,” he said, adding that Karim is also scheduled to give a speech at the expo.

Deputy public prosecutor Zul’aida Zulkifli, who was assisted by Mohd Hafiz Mohd Yusof Mohd, proposed a RM2 million bail.

Hafiz said the warrant was not executed out of good faith by the investigating officer but that the prosecution still wants a court order that the accused hand over his passport to the court.

https://www.theedgemarkets.com/article/serba-dinamik-ceo-charged-sessions-court

Before Sessions Court judge Datin Sabariah Othman on Wednesday, Abdul Karim pleaded not guilty and claimed trial.

https://www.theedgemarkets.com/article/serba-dinamik-ceo-charged-sessions-court
Posted by BobAxelrod > Dec 29, 2021 3:03 PM | Report Abuse

I think with Interpol "eye in the sky" also cannot get his facial recognition because already new face, new shirts, new underwear and new tie.

Police can easily trace him by tracking where his handphone "ping". Even if he is in Xinjiang. What so difficult?

Posted by superrr > Dec 29, 2021 2:47 PM | Report Abuse

Where is karam ?As long as spies his mobile with his family, relatives and friends, he will be caught quickly...

****************************

Je was in court today. Rm500,000 bail and gets to keep his passport.

Not so smart ID, got caught in the net and charged by SC despite being an accountant, probably a tax agent as well as an auditor?

ENCIK ABU BAKAR BIN UZIR
Age 43
Gender Male
Nationality Malaysia
Designation Independent Director
Directorate Independent and Non Executive
Type of change Appointment
Qualifications
Professional Qualification
Chartered Tax Practitioner
Chartered Tax Institute of Malaysia
Chartered Accountant
Malaysian Institute of Accountants

Talk east talk west and talk c*ck also no use. Listen to the naysayers early in June 2021, sell all cut loss, then you will be alright. can shout tangkap karim with glee. Sleep well at night.

Falling price and Falling knife?

Karim sudah lari ke xinjiang? Kawen kata dia ada dijln beijing diurumqi pakai kopia jual roti payan kari kambing.

Looks like you dun need audited report to charge directors for false information, likely quarterly disclosure is a statutory declaration.

Posted by joyvest > Dec 28, 2021 11:20 PM | Report Abuse

All the profits boasted to be made by LsdyMeow has been more than wiped out by the loss of averaging till negative value now.

What was made earlier on was totally fruitless now....

Posted by iPlay > Dec 28, 2021 11:14 PM | Report Abuse

Any idea what was the fraud... technically ? what and how ?

"Earlier the same day, the regulator charged the group, its director as well as officers for submitting a false statement to Bursa Malaysia Securities Bhd — which is an offence under Section 369(a)(B) of the Capital Markets and Services Act 2007 (CMSA) — in relation to a revenue figure of RM6.014 billion contained in Serba Dinamik’s financial report for the quarter and year ended Dec 31, 2020."

https://www.theedgemarkets.com/article/sc-secures-arrest-warrant-serba-dinamik-ceo

25 Nov 2021
Name ENCIK ABU BAKAR BIN UZIR
Age 43
Gender Male
Nationality Malaysia
Designation Independent Director
Directorate Independent and Non Executive
Type of change Appointment
Qualifications
No
Qualifications
Major/Field of Study
Institute/University
Additional Information
1
Professional Qualification
Chartered Tax Practitioner
Chartered Tax Institute of Malaysia
2
Professional Qualification
Chartered Accountant
Malaysian Institute of Accountants
3
Professional Qualification
Certified Financial Planner
Financial Planning Association of Malaysia
4
Degree
Bachelor Degree with honours in Accountancy
Universiti Utara Malaysia

Dun play2 ID kena charged if still in the BOD, no wonder the rest scuttle like rats, including the policeman

Independent non-executive director Abu Bakar Uzir, who appeared for Serba Dinamik to answer the charge against the group, also claimed trial, said the SC in a statement.

Under Section 369(a)(B) of the CMSA, a person found to have made a false or misleading statement to the SC, the exchange or approved clearing house, if convicted, faces a jail term of not more than 10 years and a fine of not less than RM3 million, or both.

https://www.theedgemarkets.com/article/sc-secures-arrest-warrant-serba-dinamik-ceo

New team of bank appointed receivers to salvage what is left to pay bondholders and creditors. Shareholders probably get nothing.

@Vicky quoted well most likely Serba will be takeover by a new team and new CEO. too big and too sayang to go bust
28/12/2021 7:51 PM

Failure must be a journey to oblivion.

“Success is not a destination, it is a journey,” Mohd Abdul Karim said in the company’s latest annual report. He is one of the corporate figures worth watching.