I dont care who the project or maincon they sub to. As long as they declare they had recevied the money like they did 90% received. Then what to worry.
Money is there!!
1MDB is different story. The money is not there.
Not only malaysia, almost all the business around the world doing business like this. Project award not really based on tender, all table money. Even Petrxxxx in malaysia
you go to google zonescorp official website( UAE government website) memang official award the Project to Serba dinamik. they have news and picture release at UAE and government website.
serba is not faking projects. Maybe has related party transaction so what? As long as the profit reported is there. WHich they make video record at the briefing proof that 90% of receivable has received as cash alrdy . they leave the clear evidence there
if you guys has listened to the serba dinamik special committee meeting on Saturday with the reporters. you know the kpmg is being so irresponsible at their duty. until now 25 days has passed and still no reply to their answer since 6th May. KPMG decided to annouce not sign the audit at last week of the deadline.
They raise the concern and ask independent directors instead of management at first place, independent director are not involve in day to day operations. all the concerns are question about operations, they purposely to drag the time. only independent director raise to management, only management know kpmg is raising issue on audit. After answer the question, then kpmg play dissappear for 25 days till now still not appear
this is a very big damage to PLC as it could be delist if not meet release of annual report.
BTW The transactions mention by kpmg is actually 70% received alrdy. left 30% at receivable.
please go listen to the 1hour SB special meeting on Saturday, all the question are answered so well even reporters suggested SB should take legal action again kpmg for the damages at SB corporate image.
All the kpmg concern and question never point to fraud of financial result. but maybe implying related party transaction from duno who? Is due diligence issue.
but so what. As long as the money flew in, trade receivable is clear within term as it did past 4 years. The financial of the company is nth wrong. since we not accusing they do high receivable and transfer to bad debt, then what are we worry for?
come on, even same or different name on contract so what? is not an big issue. Serba Dinamik has never do any big bad debt since IPO. As long as money will come in, why do u care who is paying the money??
Their trade receivable is high because due to global operation in pandemic situation. They did not declare those receivable into bad debt also.
+83% of their trade receivable is not past due date. still in 30-60days term. is a normal to put at trade receivable.
then why you guys so particular on the issue who is supplier or contract name dif?
obviously the company cash flow has its problem. They even sell the land one month ago to repay the bank loan. The machines depreciate too much, they had bought too many machines and no utilize because of the recent low developing in infrastructure and houses
We refer to the announcements dated 31 March 2017, 13 April 2017, 21 April 2017, 4 July 2017, 18 July 2017, 25 July 2017, 27 July 2017, 7 August 2017, 6 September 2017, 14 September 2017, 18 September 2017, 2 October 2017, 6 October 2017 and 9 October 2017 ("Announcements") and the circular to the shareholders of VHB dated 21 August 2017 (“Circular”) pertaining to the acquisition of 100% equity interest in WSSB. Unless otherwise stated, abbreviations and definitions used throughout this announcement shall be the same as those in the Announcements.
Pursuant to the Share Sale Agreement dated 13 April 2017 entered into between VHB and the Vendors for the WSSB acquisition, the vendors irrevocably and unconditionally guarantee jointly and severally to VHB that the Profit After Tax ("PAT") for the financial year ended 31 December 2017 and financial year ending 31 December 2018 (“Guaranteed Financial Years”) of WSSB shall not be less than RM82,591,000 in respect of the Guaranteed Financial Years.
The Board of Directors of the Company wishes to announce that the Company had on 23 April 2018 received audited financial statement of WSSB for the financial year ended 31 December 2017. The reported PAT is RM28,577,520.
Lol. U think so easy to predict or assume which is the target? If it is comfort, insider also push up long time ago lo. Since they are alrdy in last negotiation stage, really think insider wont eat up and let u all to earn?