I'm sure SD won't be able to pay them and, as a result, so may have fallen by the wayside.

Only the mentally afflicted persist.

superrr Now sd need more promoters to work here//////
21/12/2021 11:15 PM

https://www.theedgemarkets.com/article/gamuda-1q-net-profit-down-29-qoq-rm152-mil-declares-six-sen-dividend

Gamuda 1Q net profit down 29% q-o-q to RM152 mil; declares six sen dividend
Syafiqah Salim

December 21, 2021 19:19 pm +08


KUALA LUMPUR (Dec 21): Gamuda Bhd’s net profit for the first quarter ended Oct 31, 2021 (1QFY22) fell 28.83% quarter-on-quarter (q-o-q) to RM152.37 million from RM214.08 million amid lower overseas property earnings, citing that ‘Vietnam was in lockdown’ for the quarter under review.

This resulted in lower earnings per share of 6.06 sen in 1QFY22 compared with 8.52 sen in 4QFY21, the construction group’s filing on Tuesday (Dec 21) showed.

Gamuda’s quarterly revenue also decreased by 15.74% to RM747.11 million from RM886.67 million in the immediate preceding quarter.

The group declared an interim dividend of six sen per share for the financial year ending July 31, 2022, with the entitlement date will be announced later.

On a yearly basis, the group’s net profit climbed 38.15% from RM110.3 million despite revenue declining slightly by 2.2% from RM763.95 million. Gamuda attributed the strong year-on-year earnings from all its divisions as work on all fronts continued to pick up the pace.

It said property sales improved 25% with RM838 million worth of properties sold in 1QFY22, from RM673 million in the same period last year.

“Overseas sales continued to spearhead the group’s property divisions, contributing two-thirds of overall sales. While at the local front, Gamuda Gardens and Gamuda Cove sales have doubled in volume,” it noted.

Gamuda anticipated that 2022’s performance will be driven by overseas and local property sales, as well as the continued progress of MRT Putrajaya Line (formerly called MRT Line 2).

“Moving forward, the resilience of the group is underpinned by its construction order book of RM3.8 billion and unbilled property sales totalling RM4.9 billion.

“On top of that, the group has a healthy balance sheet with low gearing of 0.2 times and a strong cash position,” it added.

Gamuda closed four sen or 1.39% higher at RM2.92, with some 763,400 shares traded. Based on its closing price, the stock was valued at RM7.34 billion. It has fallen 21.72% year-to-date.

Of course. Salaries paid on time and in full. Annual bonuses have been doubled, all other benefits have been trebled.

This said before any promoters get the idea to respond.

Anyone would probably be unwise to believe any response - except mine :)



Speedrc Any SD employeeeeeeeeee here?
Comp pay ur salary ?
21/12/2021 10:44 PM

@treatshijau, @amir1221 and muhfiq. Please advise which planet you are "reporting" from.

The rest of us on this blog are on planet earth (3rd rock from the sun).

It would help if you could string a passable sentence in English, Bahasa or, at a push, Cantonese.

Sarawak32 For all investor, this is not a place where you get a fair statement of a company. Only those who condemn will be allow. All others will be not according to them will be remove. Get out from here.
17/12/2021 9:39 PM

Your first post. Well done.

However, please translate into proper English or Bahasa. We do not know what you mean.

Black Mussel, GrtTrdr and all the other alter egos:

Legends in their own mind with delusions of adequacy but, sadly failing at everything they try

bobvic96 GrtTrdr Hi Caty54! Are u still available? I love your comments..
16/12/2021 10:00 PM

Black Mussel,
thank you for highlighting Caty54 is another of your alter egos along with GrtTrdr and a few others.

Get back to the care home and take your medication.
16/12/2021 10:04 PM

Just imagine, a nice clean nappy and tucked in by your favourite nurse.

Sleep well and pleasant dreams about justice coming to those who are guilty - not necessarily limited to the BoD.

GrtTrdr Hi Caty54! Are u still available? I love your comments..
16/12/2021 10:00 PM

Black Mussel,
thank you for highlighting Caty54 is another of your alter egos.

Get back to the care home and take your medication.

https://www.bursamalaysia.com/market_information/announcements/company_announcement?keyword=&cat=&sub_type=&company=7130&mkt=&alph=&sec=&subsec=&dt_ht=&dt_lt=

Kaboom sold another 355k Kpower shares on 10th December (notified Bursa 15th). Not a great deal of money but enough to purchase a good pair of trainers to do a runner.

https://www.bursamalaysia.com/market_information/announcements/company_announcement?keyword=&cat=&sub_type=&company=7130&mkt=&alph=&sec=&subsec=&dt_ht=&dt_lt=

Kaboom sold another 355k shares on 10th December (notified Bursa 15th). Not a great deal of money but enough to purchase a good pair of trainers to do a runner.

https://www.bursamalaysia.com/market_information/announcements/company...

10. WHERE THE DEFAULT IN PAYMENT IS IN RESPECT OF A LISTED ISSUER, MAJOR SUBSIDIARY OR MAJOR ASSOCIATED COMPANY, AS THE CASE MAY BE, A STATEMENT AS TO WHETHER THE LISTED ISSUER IS SOLVENT

At this juncture, the Company is unable to provide to Bursa Malaysia Securities Berhad a solvency declaration pursuant to Paragraph 9.19A(4) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.

BoD are clueless, caught out by their own misdeeds

And the clueless promoters here still believe it will limit up

Huangbk72 @bobvic

I tried to ignore that kacang putih but his post is too incredulous.. can’t help myself stomping on him..

LOL

Brings me joy every time I do it.

All his posts are fake anyway.. who would believe?
14/12/2021 9:31 PM

None but the mentally afflicted

Do not respond to the black mussel, that gives it gets a sense of credibility.

Ignore it. That will drive it even further over the edge

For those that had difficulty reading between the line:
https://www.bursamalaysia.com/market_information/announcements/company_announcement?keyword=&cat=&sub_type=&company=7130&mkt=&alph=&sec=&subsec=&dt_ht=&dt_lt=

RUN

Actually, you are too Stoopid to survive. Just canon fodder

Share price 8th May 2019: ROM0.08

limlaopeh Tesla wannabe, a good story teller, a bad businessman, serba is in the entertainment industry, focusing on comedy
13/12/2021 5:21 PM

Best post of the day

Second chance:
Every guilty person gets a second chance after they have served their time in prison.

zoizai promotor also cannot get salary liao
11/12/2021 11:37 PM


Hopefully, when SBDK can no longer pay the electricity bill, it will put paid to the bots running on SBDK's computer:

hijau belalang

treatshijau

muhfiq

amirf1221

etc,

They just make brainle$$ mor0n!c statements, probably selected from some computer's random phrase generator. Or, maybe they indeed are Martians, or from some other SBDK intergalactic probe which SBDK forgot to inform us about.

You also have to be concerned about the "people" who respond to them

Konreem had a little pearl,
whose colour wasn’t quite white.
And everywhere that Konreem went,
 the little pearl was sure follow.

It followed Konreem to accounts one day
 which was against the rules.
“I’ll make the rules as I want” Konreem blurted
“And you bean-counters, cook the books, I’ll tell when to stop”


The auditor found the chef’s recipes, but still Konreem persisted,
And tried to bully his will on all, but to no avail, and only little pearl assisted

“I’ll sue your a$$ and everyone else's”, bellowed Konreem
“I’ll set my pearl upon you all and then you’ll see”.
At which the auditors laughed with glee,
as the pearl was only a delusional mussel.

Pearl White is a sad case, a legend in his own mind but with delusions of adequacy.

Seems to think he is SBDK's Director of Strategy which, if that was the case, would explain the total mess SBDK have made of trying to recover from its auditing issues.

Strange why Bursa instructs Serba to announce updates on the Material Litigations:

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3217991

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3217990

But not on the defaulted coupon payment?

Gerrardo The Edge vs SD?

Posted by ǷearlꙌhite > Dec 10, 2021 12:15 PM | Report Abuse

.
(Updated 10th December 2021, 12.15PM)
Now this is progress. Let's see what has been found out about The Edge.

1) The Edge is lobbying Bursa Malaysia to break its own rules.
2) The Edge is lobbying for SC to take action on Serba Dinamik without evidence.
3) The Edge doesn't know who the regulator of the capital market is.
4) The Edge had concealed that RM3 billion of audit discrepancies were resolved in the SIR.
5) The Edge had concealed that audit discrepancies within Malaysian borders were resolved in the SIR.
6) The Edge had concealed that audit discrepancies that had KPMG as external auditors were resolved in the SIR.
7) The Edge had been acting on behalf of the hostile takeover parties of Serba Dinamik to create a negative perception of Serba Dinamik.
8) Jose Barrack's sifu gave feedback that The Edge cannot be taken seriously with poor quality journalism.
10/12/2021 10:54 PM

It looks very much as though The Edge should sue the Black Mussel for slander and defamation

Wow, this post confirms that @Prudentiv is none other than @Honesty

Who in their right mind would (a) want to buy shares in a bankrupt company that appears to be fraudulent and (b) a company with any of the current BoD "running" it.

Get back to the care home, take your medication, you never know there may be hope.

Prudentinv This only show a group is working together with an agenda. Keep posting over and over the same issue. Again, time will tell who is right and who is wrong. Many many know insider news and wanted cheap tickets like 5 cents. This market is really full of hungry shark.
10/12/2021 1:54 PM

some dealings going off:

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3217513

https://www.theedgemarkets.com/article/serba-dinamik-fails-recuse-judge-lawsuit-against-bursa

Serba Dinamik fails to recuse judge in lawsuit against Bursa
Adam Aziz & Izzul Ikram


December 09, 2021 16:01 pm +08
The company is at risk of defaulting on a sukuk by the end of the grace period on Thursday (Dec 9) after missing a US$7 million (about RM29.52 million) coupon payment on Nov 9. (Photo by Mohamad Shahril Basri/The Edge)
The company is at risk of defaulting on a sukuk by the end of the grace period on Thursday (Dec 9) after missing a US$7 million (about RM29.52 million) coupon payment on Nov 9. (Photo by Mohamad Shahril Basri/The Edge)


KUALA LUMPUR (Dec 9): The High Court has dismissed Serba Dinamik Holdings Bhd’s application to recuse the presiding judge in the company's lawsuit against Bursa Malaysia Securities Bhd.

The company had sought to recuse Justice Datuk Ahmad Fairuz Zainol Abidin on the grounds that he served in the Securities Commission Malaysia (SC) in the past.

Delivering his decision via Zoom on Thursday (Dec 9), Justice Ahmad Fairuz said there was no real danger of bias shown, apart from the suggestion that he may be impartial and favour Bursa and the SC.

"To me, it is pure conjecture and a poor attempt to justify the application,” he said.

"Past associations including mere past history of employment are never sufficient as valid grounds to premise an objection of real danger of bias by the judge, more so when there is no clear nexus between the judge and the circumstances surrounding the issue at hand,” he added.

Justice Ahmad Fairuz ordered Serba Dinamik to pay costs of RM20,000 to Bursa, and set Jan 17 to hear the company’s interim injunction application to block the release of the factual findings update on its financials by special independent reviewer E&Y Consulting Sdn Bhd.

In its suit against Bursa filed in November, Serba Dinamik sought to nullify the appointment of E&Y Consulting under Bursa’s directive to conduct the special independent review.

The oil and gas engineering services company also sought interim injunctive relief against Bursa to restrain the stock exchange from releasing the update pending the disposal of the suit.

Serba Dinamik has been under regulatory and public scrutiny amid several issues raised by its then external auditor KPMG involving its accounts for the 12-month period ended Dec 31, 2020.

The company, which has missed the Dec 8 deadline to release its annual report, is also at risk of defaulting on a sukuk by the end of the grace period on Thursday (Dec 9) after missing a US$7 million (about RM29.52 million) coupon payment on Nov 9.

Shares in the company have been suspended from trading since Oct 22 after it dismissed Bursa’s directive to make public the factual findings update. The counter last traded at 35 sen, giving it a market capitalisation of RM1.3 billion.

An evening with Taliworks

Taliworks Corporation Berhad (TALIWRK, 8524) is an established infrastructure company engaged in (i) water treatment, supply and distribution, (ii) highway toll concessionaire operations and maintenance, (iii) engineering and construction, (iv) waste management and prospectively (v) renewable energy. The company is focusing on mature operational cash-generating utilities/infrastructure business to support its dividend payout policy. With its proven track record, experience and technical expertise, Taliworks is poised to grow and add value to its existing businesses.

To know more about Taliworks, please come and join us for an evening chat with Mr Kevin Chin, the Chief Investment Office and Mr Victor Wong, the General Manager of Group Finance on 6 December 2021 from 8:00 pm till 9:00 pm.

This webinar is organised by Bursa Malaysia.

https://www.bursamarketplace.com/opportunities/#webinar-taliworks

Just waiting for the CEO to resign :)


Nikmon Haha, all the authority being question or sue by SD, the latest victim is judge...haha

Which stupxd still promote this counter...really shameless lah, just accept the fact and chat with your family, don't suicide..lol

The main actors resign today, so what happens to those legal case, after sue KPMG, Bursar, E&Y can't wait until hearing.....
24/11/2021 10:06 PM

BearBear6115 End month we will know the result ?
24/11/2021 9:22 PM

That's a definite "maybe"

And let's be realistic on this, they are resigning because Bursa are applying the rules.

bobvic96 I guess the good thing about the resignations is that they have been part of Serba long enough to be culpable.

https://www.nst.com.my/business/2021/11/748457/serba-dinamik-chairman-...
24/11/2021 9:14 PM

armadatuah2017 Bobvic you memang paria..how much do you think the sale is worth compared to money he invested in Scib and sd…only cheapskate like you will salvage penny and escape..dont use your udang brain

It really doesn't matter what he invested, he is preparing t run. Use the two cells, where your brain should be, that are keeping your ears apart.

I guess the good thing about the resignations is that they have been part of Serba long enough to be culpable.

https://www.nst.com.my/business/2021/11/748457/serba-dinamik-chairman-illyas-independent-director-johan-resign-citing

Karim sold 25m Kpower shares yesterday and today. Preparing to run

Check the Bursa announcements

https://www.bursamalaysia.com/market_information/announcements/company_announcement?keyword=&cat=&sub_type=&company=7130&mkt=&alph=&sec=&subsec=&dt_ht=&dt_lt=

Karim sold 25m Kpower shares yesterday and today. Preparing to run

Check the Bursa announcements

Karim sold 25m Kpower shares yesterday and today. Preparing to run

Next step, SD sues the Malaysian legal system.

https://www.theedgemarkets.com/article/why-bursa-sought-serba-dinamik-be-compelled-make-public-announcement-independent-review

Why Bursa sought Serba Dinamik to be compelled to make public announcement on independent review
Hafiz Yatim


......

Serba Dinamik seeks to remove presiding judge

Meanwhile, Serba Dinamik had earlier this month filed two separate actions at the High Court against Bursa and also E&Y to stop them from releasing the findings.

A case management of the case was done on Tuesday (Nov 23), before Justice Datuk Ahmad Fairuz Zainol Abidin, where it is understood the company sought to have the judge removed from presiding over the case.

This follows Justice Ahmad Fairuz had previously served with the Securities Commission (SC) as its deputy chief executive before becoming a High Court judge.

Serba Dinamik, which had sought an injunction against Bursa and E&Y from releasing the report, earlier this month had sought more time from the judge to respond and answer Bursa and E&Y's affidavit in reply to oppose the application.

Following that the application for the hearing of the injunction has now been fixed on Dec 8 by Justice Ahmad Fairuz.

The judge however, on Nov 11, dismissed the company's application for an ad-interim injunction to bar Bursa and E&Y from releasing the findings before the hearing date on Dec 8.

https://www.theedgemarkets.com/article/serba-dinamik-faceoff-regulators


Serba Dinamik in face-off with regulators
Jose Barrock
/
The Edge Malaysia

November 23, 2021 14:00 pm +08
This article first appeared in The Edge Malaysia Weekly, on November 15, 2021 - November 21, 2021.


IS Serba Dinamik Holdings Bhd sliding down a slippery slope, or will the company’s management be vindicated, and some semblance of normalcy return to the beleaguered oil and gas outfit?

While the problems at the company first came to light in May, last week proved significantly challenging with consistent negative news flow, including that it was seeking legal redress against the frontline capital market regulator Bursa Malaysia Bhd. One market watcher says of the pickle the company is currently in: “Clearly, it would appear that Serba Dinamik has stuff to hide and is buying time.”

However, while an increasing number of people are sceptical of Serba Dinamik’s innocence, it has its fair share of sympathisers as well.

Last week, the company failed in its bid to obtain an interim injunction against Bursa Malaysia and Ernst & Young Consulting Sdn Bhd (EY) to prevent them from releasing a special independent review (SIR) on the findings on Serba Dinamik.

To recap, Serba Dinamik is seeking legal recourse against Bursa Malaysia, EY and its original auditors KPMG. The problems at the company began after KPMG in May flagged what it alleged were more than RM4.54 billion in questionable transactions.

Serba Dinamik executives have vehemently denied any wrongdoing, and have been trying to withhold the contents of EY’s findings, suggesting that the SIR is “preliminary and inconclusive”. The oil and gas company has also questioned Bursa Malaysia’s suspension of its stock.

Worst hit are likely to be the minority shareholders, who are powerless as the stock remains suspended. The company’s market capitalisation has plunged — from RM6 billion prior to the issues surfacing to RM1.3 billion, at its price of 35 sen per share when the suspension took place.



Minority Shareholders Watch Group (MSWG) CEO Devanesan Evanson said in a weekly newsletter last Friday, “As Serba Dinamik has taken legal action against Bursa Malaysia (and EY), the issue is now in the realm of the courts and MSWG awaits the timely resolution of the case in the interest of minority shareholders.”

Serba Dinamik did not reply to questions from The Edge for this article. Nevertheless, the pressure seems to be mounting on the company, which was once an investors’ darling in the oil and gas sector.

SC breaks its silence
Last Thursday, Securities Commission Malaysia (SC) came out to explain that it had “conducted a raid on May 18, 2021, to secure documents and relevant evidence from several Serba Dinamik offices following a Section 320 Capital Markets and Services Act 2007 (CMSA) notice issued to the SC by KPMG”.

Section 320 of the CMSA says that if an auditor “is of the professional opinion that there has been a breach or non-performance of any requirement or provision of the securities laws, a breach of any of the rules of the stock exchange or any matter which may adversely affect to a material extent the financial position of the listed corporation, the auditor shall immediately submit a written report on the matter”.

Section 320(2) seems to provide auditors with immunity. It states that “No auditor shall be liable to be sued in any court for any report submitted by the auditor in good faith and in the intended performance of any duty imposed on the auditor”.

As such, Serba Dinamik’s case against KPMG could be an uphill task unless it manages to prove that the auditor did not act in good faith.

In the case of EY, which was brought in after KPMG flagged the issues, the SC says it had granted EY access to documents it had seized as the latter was having difficulties obtaining complete documentation from Serba Dinamik on several aspects of its review.

Meanwhile, Section 152 of the Securities Commission Malaysia Act 1993 (SCMA) allows the SC to require any person to disclose to it information it deems “expedient” for the administration of the securities laws. The SC, in an email response, says that it had issued a Section 152 SCMA notice to require EY to disclose its SIR findings for its review.

“The SC has made progress on its investigation and additional resources have been added to the team to ensure the investigation is completed in a timely manner,” the SC added.

Issues with Bursa and EY
Serba Dinamik’s action against the local bourse is odd considering that Section 376 of the CMSA says that no civil liability shall be incurred by a stock exchange, where such act, statement or omission was done in good faith.

Bursa Malaysia had suspended trading in Serba Dinamik shares since Oct 22, after the oil

Maybe it's just that Sow-Low-Moh's watch is running slow by between 3 months to 2 years


BobAxelrod This Soh-Loh really hard-up for his 25 sens per post as promoter. He even digs out 2019 stale News....hahaha

Which has no bearings with SD case too....sigh
20/11/2021 2:58 PM

IdleMoney66 1 billion can overtake this company into private
17/11/2021 8:16 PM

The thing is, if there has been fraudulent accounting, etc. carried out by Serba as many suspect, the law has been transgressed and some people will have to pay the price for that.

The BOD should step down and maybe the company can be salvaged.

solomolo Here is the story...EY issued a bad SIR...The SC investigation did not see anything wrong with the audit...what will happen to EY and KPMG?...willing to pay millions...hehe
17/11/2021 1:16 PM

KPMG and EY will sue Serba for defamation and get their findings out in court.

Agreed


Pinky I'd rather they retain the cash for future projects. Bear in mind that Tali is involved in construction and concession businesses which needs heavy capital outlay. Current dividend yield is already very handsome.
17/11/2021 9:14 AM

magus what special dividend? Tali already paying very good regular dividends, anyway, there is no reason for paying any special dividends.
17/11/2021 12:54 AM


I'm not arguing about the good dividend. I'm just asking as the profit is higher and the company has a stated 75% dividend rate:

The Board of Directors of the Company is pleased to announce that it has approved a dividend payout ratio of not less than 75% of its consolidated profit after tax (excluding exceptional items) for the financial year ending 31 December 2015 onwards as a Dividend Policy for the Company. However, such payments will depend upon a number of factors, including amongst others, the earnings, capital commitments, general financial conditions, distributable reserves and other factors to be considered by the Board.

A good addition to the RM4m he forgot to invest in Serba shares after selling the warrants.


Stocksafeplayer OMG!! Thanks @bobvic96 for latest update on Kareem
16/11/2021 10:27 PM

Kaboom sold 5.6m KPower shares on the 15th. Preparing to run

https://www.bursamalaysia.com/market_information/announcements/company...
16/11/2021 10:08 PM

Kaboom sold 5.6m shares on the 15th.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3209743

Could there be a special dividend at year’s end?

Trader258 You are right about the fake multiple IDs blabbering away herein..
.................................... .................................
bojed What trend is there to monitor when the counter has been suspended for a week now ? Fake multiple IDs talking to each other, that's why none of them make any sense at all.
15/11/2021 3:47 PM

I'm sure they (or it) are Martians using a Martian random phrase generator. Unfortunately, but maybe fortunately, Google translate doesn't translate Martian very well. The posts generally make little sense. It would seem an obvious case of getting paid by the number of posts - maybe they don't know they will no longer get paid!

BobAxelrod The once darling of Bursa is now held with contempt? Nobody wants to hold and be associated anymore? Hoping for miles in between and out of sights?
15/11/2021 10:47 AM

Same modus operandi as Enron, "smartest guys in the room" - until they weren't. Outcome will be the same.

BobAxelrod Leaking cash from big and small holes...Big Debts coming due, coupons unpaid, suppliers' calling back outstanding bills, cash upfront for new supplies, .......parking tickets also upfront ka?
15/11/2021 8:19 AM

I expect Shafee is not working on a "no cure, no pay" basis given the minimal likelihood of any success. Imagine what his daily fees must be with all the litigations his team is handling. Given SB's dire financial situation, the cases may be dropped before anything is really brought to court due to lack of funds.

I expect the "new" INEDs are losing weight without even trying, whether they needed to or not.

bobvic96 paulthesotong 1700 employees? Employees become 2fiveSon?
14/11/2021 8:53 PM

And if the BOD were truthful in pursuing the best interests of the stakeholders, they would have stepped down months ago and let someone salvage the good (read "genuine") parts of the company.

Alas, they are selfish but hopefully heading for free curry dinners at the tax payers expense.
14/11/2021 8:59 PM
14/11/2021 9:01 PM

paulthesotong 1700 employees? Employees become 2fiveSon?
14/11/2021 8:53 PM

And if the BOD were truthful in pursuing the best interests of the stakeholders, they would have stepped down months ago and let someone salvage the good (read "genuine") parts of the company.

Alas, they are selfish but hopefully heading for free curry dinners at the tax payers expense.