@admin i think you should remove such blogs misusing i3 portal. This bring risks to i3 website future

last quarter PAT margin of 18% will be easily wiped out by rising raw material price naphtha along with oil price

products are flooded in the market with rising production from china and depressing avg selling price

it will be difficult for LC Titan going forward with such high oil price (unlikely to come down)

asp drop 16% and naptha price had risen 15%, difficult to make profit

http://www.sunsirs.com/uk/prodetail-334.html

https://markets.businessinsider.com/commodities/naphthapreis

further, mandatory turnaround coming for 35 days:

https://www.argusmedia.com/en/news/2220041-se-asia-braces-for-heavy-3q-petchem-turnaround-season

Lotte Titan Pasir Gudang, Malaysia No.1 cracker 285 145 5 July, 35 days

https://www.bharian.com.my/bisnes/korporat/2021/06/831972/serba-dinamik-nafi-dakwa-pengerusi-bincang-dengan-sc-bursa

they rather take a picture of an unknown building 512 and take it as 512W instead of talking to SD and verifying

speaks a lot about the KPMG auditor

after 59 days, KPMG rather give their speculative view to SC than follow SD's request to talk and verify their clients

so many free advisers flocking serba very concern for the retailers! LOL

even if what Leno said is true, the point is SD is maneuvering the game such that they will win

what market care is who wins, not who is truthful

Short Squeeze

Short sales have an expiration date, so when a stock unexpectedly rises in price, the short-sellers may have to act fast to limit their losses. Short-sellers borrow shares of an asset that they believe will drop in price in order to buy them after they fall. If they're right, they return the shares and pocket the difference between the price when they initiated the short and the actual sale price. If they're wrong, they're forced to buy at a higher price and pay the difference between the price they set and its sale price.


Because short sellers exit their positions with buy orders, the coincidental exit of these short sellers pushes prices higher.

https://www.investopedia.com/terms/s/shortsqueeze.asp

https://www.bloomberg.com/quote/5OU:GR?sref=YphvZen9

peak was 8.50

Its really the best time to buy! All negative element has been priced in!

https://klse.i3investor.com/blogs/informationtech/2021-06-12-story-h1566192248-Good_time_to_short_squeeze_Top_Glove_Malaysia.jsp

Good time to short squeeze Top Glove (Malaysia)?

https://klse.i3investor.com/blogs/informationtech/2021-06-12-story-h1566192248-Good_time_to_short_squeeze_Top_Glove_Malaysia.jsp

Good time to short squeeze Top Glove (Malaysia)?

https://klse.i3investor.com/blogs/informationtech/2021-06-12-story-h1566192248-Good_time_to_short_squeeze_Top_Glove_Malaysia.jsp

Good time to short squeeze Top Glove (Malaysia)?

https://klse.i3investor.com/blogs/informationtech/2021-06-12-story-h1566192248-Good_time_to_short_squeeze_Top_Glove_Malaysia.jsp

All i3 investors , please take a look!

Good time to short squeeze Top Glove (Malaysia)?

https://klse.i3investor.com/blogs/informationtech/2021-06-12-story-h1566192248-Good_time_to_short_squeeze_Top_Glove_Malaysia.jsp

yes, if not it may potentially be acquired by bigger players like LG Chem for regional dominance

Bear in mind, Fitch ratings is all about SD ability to service their debt - it has no whatsoever opinion on veracity of KPMG allegations.

This two things are absolutely separate.

and it is KPMG allegation that caused Fitch to react not vice versa

all queries from KPMG had been answered by SD

the question is, has KPMG acted as per SD's requests? If not why?

The bank's reaction is effects, the cause is Auditor

Posted by fengpinglangjin > Jun 7, 2021 4:58 PM | Report Abuse

Still wanna attack auditor for wat. The root of the problem is bank.

look who is talking? the one who believed on ucrest with rubbish financial statements and con artist Mr. Eg

Posted by fengpinglangjin > Jun 7, 2021 4:57 PM | Report Abuse

I only believe when a bank believes. If the bank dun believes.talk wat also no use.
It all started from bank not from kpmg.

but that time, 1.50 already

Posted by fengpinglangjin > Jun 7, 2021 4:43 PM | Report Abuse

Only buy serbadk when credit rating is back to normal.
There is no future for serbadk if credit rating is poor.
Serbadk current tender with petronas etc will be stalled.
No company will giv job to serbadk with credit crisis looming.

The future is at stake.

If everything is resolved but credit rating is unchange.
Serbadk probably will remain a penny stock as the biggest credit crisis is at door step.

Bear in mind, Fitch ratings is all about SD ability to service their debt - it has no whatsoever opinion on veracity of KPMG allegations.

This two things are absolutely separate

It reflects badly on KPMG

Bear in mind, Fitch ratings is all about SD ability to service they debt - it has no whatsoever opinion on veracity of KPMG allegations.

This two things are absolutely separate

Pacifying major shareholders

On Wednesday (June 2), Kumpulan Wang Persaraan (Diperbadankan) (KWAP) has ceased to be a substantial shareholder of Serba Dinamik after the pension fund sold 26.03 million shares or 0.7% to bring down its stake to 4.53%.

KWAP is the first institutional fund that has sold shares in the company since news broke out that KPMG has raised red flags on its financial accounts for the year ended Dec 31, 2020.

Other institutional funds which hold substantial stake include Employee Provident Fund with 10.18%, Amanah Saham Nasional Bhd, a unit of Permodalan Nasional Bhd (PNB), and the State Financial Secretary Sarawak.

“Despite lingering uncertainties, the management is doing its utmost best to ensure that the company’s 15-month financial results will be announced without further delay (by end-June),” the source pointed out.

“Above all else, we’re always on the look-out for ways to give back to the society as evident in how we’ve spent close to RM5 mil in our myriad of COVID-19 CSR (corporate social responsibility) activities that entailed donation of personal protection equipment (PPE) (ie gloves and masks) and food in 2020 alone.”

To cushion the sell-down of its shares, head honcho Datuk Dr Mohd Abdul Karim Abdullah has himself acquired five million shares in the company he founded in 1993 on Monday (May 31) when the company resumed trading after having sought suspension for two trading days.

Non-independent non-executive director Datuk Abdul Kadier Sahib has further scooped up another three million shares in the open market on Friday (June 4) at an average price of 80.35 sen to raise his direct stake in Serba Dinamik to 602.9 million shares or 16.25%.

Prior to this, Abdul Kadier had bought eight million shares in Serba Dinamik this week alone.

At the end of Friday’s (June 4) trading, Serba Dinamik closed down 7 sen or 8.38% to 76.5 sen with 425.44 million shares traded, thus valuing the company at RM2.85 bil.

At this juncture, the company’s price-to-earnings ratio (PE) stands at 4.51 times with a dividend yield of 7.12% while its order book remains intact at RM19 bil excluding strong contribution from its IT segment. – June 6, 2020

More proactive INEDs

Recall that on the weekend of May 29, Serba Dinamik staged a last minute separate briefing sessions for analysts/fund managers and the media to detail out the chronology of events while doing its utmost best to explain and clarify the impending issues in a good way.

“The management is also working hand-in-hand with our independent non-executive directors (INEDs) by listening to their views on how we can better improve our accounting mechanism,” said the source.

In a late statement on Thursday, the INEDs had come out in the open to voice concern over recent events which have taken the company by storm.

Chief among the message of the seven-paragraph statement is that the composition of the independent committee to assess the veracity and accuracy of the matters raised by KPMG shall have no representation from the management to ensure its independence.

The source further reaffirmed that it has been BAU (business as usual) with no disruption to both the company’s operations as well as any banking facilities, including cash flow.

To be fair to both parties, the accounting issues which surfaced in Serba Dinamik’s FY2020 audit had very much been exacerbated by difficulties in completing the audit process due to movement restrictions across all its domestic and overseas operations owing to the impact of COVID-19.

KPMG as the existing auditors was unable to perform appropriate audit procedures to obtain sufficient and appropriate audit evidence. Additional reviews were requested despite concerns that were already addressed by management.

This has also led the group to change its financial year-end from Dec 31, 2020 to 18 months ending June 30, 2021 – a move that can provide the group to more breathing space to finalise its financial statements as well as to facilitate better audit planning and allocation of resources to manage the peak financial reporting period.

Given the above circumstances, the appointment of an independent third-party auditor will help provide a special independent review to assess the veracity and accuracy of the matters.

Unfortunately for Serba Dinamik, investor sentiment will be dampened with integrity of the company’s financial statements, transactions and even operations becoming questionable in the eyes of investors – both big and small.

For now, constant engagements with its four top institutional investors are vital to prevent the funds from resorting to stock dumping in the name of ESG (environment, social and governance) breaches.

Serba Dinamik fights to clear its name amid mounting odds
By Cheah Chor Sooi
6 hours ago
in Featured, Markets, Top

IT is an open secret that this has been a tumultuous week for Serba Dinamik Holdings Bhd, especially with RM3.15 bil or 52.5% being wiped out from its market capitalisation following developments linked to the flagging of some accounting matters by its external auditor KPMG PLT in relation to the company’s FY2020 financials.

Analogically, the global oil & gas (O&G) integrated engineering services provider needs ‘massive water source to douse a towering inferno’.

Not only that restless shareholders must be convinced that there exist an escape route but more importantly, the company must clear its name fast given the massive odds stacked against it

At this juncture, how many investors would actually take a step back to celebrate the company’s strong presence in 20 countries, its workforce of 1,766 across all segments of its operations and its major project breakthroughs that have roped in a vendor and supplier base totalling 770 companies?

“We’ve been a business partner and supplier to many satisfied customers, hence it is very unlikely that out business relationship will crumble overnight because of the current issue,” a top management personnel told FocusM on condition of anonymity.

“In all fairness, by stripping out the audit issue saga, Serba Dinamik remains a fundamentally sound entity.

“We have nothing to hide and had even taken prompt action to address all the queries raised by KPMG within three days after the matters were brought up on May 3. It is KPMG which has yet to revert since or does not provide any direct or immediate timeline to conclude its audit.”

Notepad with Ibrahim Sani: Bringing Serba Dinamik into 2021

Premiered Jan 1, 2021

https://www.youtube.com/watch?v=ZyyOGeHTVRY

A new substantial shareholder for Serba Dinamik?

https://www.youtube.com/watch?v=TawgdI9SPqY

service business

https://www.youtube.com/watch?v=8kDJQBWfdFw

raider has same IQ level of calvin
both pass secondary school level only

kindergarten story from raider

Serba Dinamik subsidiary secures Petronas LNG Complex contract

https://www.theedgemarkets.com/article/serba-dinamik-secures-five-new-jobs-four-valued-rm4088m

KUALA LUMPUR (March 9): Serba Dinamik Holdings Bhd (SDHB) said today its indirect wholly-owned subsidiary Serba Dinamik Sdn Bhd (SDSB) has secured a term contract involving rotating equipment maintenance services for the Petronas LNG Complex Malaysia from Malaysia LNG Sdn Bhd.

According to a filing with Bursa Malaysia today, SDHB said the contract has begun on Feb 19, 2021 and is scheduled for completion on Sept 30, 2022.

Today, SDHB said the contract has no specific value as the project is "on a call-out basis" whereby the work orders will be awarded at the discretion of the client based on their activity schedules and rates throughout the duration of the contract.


Besides the operations and maintenance (O&M) contract from Malaysia LNG, SDHB also announced today that the group has secured another O&M contract and three information, communication and technology (ICT) projects.

SDHB said the O&M contract and three ICT projects have a combined estimated value of US$99.6 million (approximately RM408.8 million).

SDHB said the company via its 75%-owned indirect subsidiary PT Serba Dinamik Indonesia secured the Indonesia-based O&M contract from PT Pilar Bahtera Energi.

Meanwhile, the three ICT projects are based in India.

SDHB said the company via its indirect wholly-owned subsidiary SDIT International Ltd secured one ICT contract from Captive Technology Solutions Pvt Ltd.

SDHB said its indirect 49%-owned associate Serba2C India Private Ltd bagged the other two ICT jobs in India from Analog and Digital Labs India Private Ltd.

At Bursa’s 12:30pm break today, SDHB settled two sen or 1.1% lower at RM1.80, which values the group at about RM6.68 billion. SDHB has 3.71 billion issued shares.

these are fully automated plant controlled by DCS, even at 30% operators the plant will be running at full throughput

they only need to ask the admin & finance team to work from home

the MCO has absolutely zero effects to automated petrochemicals

Good sharing, automated Petrochemical plants like LC TITAN will operate full swing.

You have every reason to compare LC Titan with PCHEM

8 things I learned from 2017 Lotte Titan Chemical (LCTITAN) AGM - full version

https://klse.i3investor.com/blogs/LCTITAN_2017AGM/2018-04-26-story155045-8_things_I_learned_from_2017_Lotte_Titan_Chemical_LCTITAN_AGM_full_version.jsp

5. LCT paid a dividend per share of 23.0 cents in 2017, 50% net earnings-payout dividend ratio, convert to immediate 4% dividend payout, ex-date on 16th May 18. For FY18, the management stated for 2018 dividend payout will be based on company earnings measure performance to determine as if to maintain payout of 50% dividend policy or not. I strongly believe if their whole FY18 net profit earning is good, they will continue practise with this dividend payout ratio, excepted 40% to 50% range, follow same as their competitor PCHEM dividend payout ratio to be on-par with market expectation.

8. In term of capacity, LCT’s mgmt. stated currently LCT is ranked as number fourth in Asean, as if after mega project Indonesia factory decided to commence and complete by 2023, its production capacity will be the biggest petrochemical in Asean by then.

yes, any purchase before 2nd June, entitles dividend


Financial Year 31-Dec-2020
Subject Final Dividend
Type Dividend - Normal or Special
Description Final dividend of 3.5 sen per ordinary share
Amount RM 0.0350
Ex Date 02-Jun-2021
Entitlement Date 03-Jun-2021
Payment Date 25-Jun-2021

US contribute 40% x 1.7m tonnes of products to LC Titan, market have significantly under estimated its contribution

https://www.nst.com.my/business/2019/09/518952/lotte-chemical-titans-us-based-jv-commercially-commence-its-operation

They are capable of producing one million tonnes of ethylene and 700,000 tonnes of MEG annually.

Lake Charles is the world’s largest oil refinery hub for oil and gas production and logistics in the United States.

The 40:60 JV investment project between the Lotte Chemical Titan and Lotte Chemical Corp (LCC) had invested a total capital of US$3.1 billion.

LC TITAN is one of few manufacturing plant under essential services and they are 100% dependent on regional demand which is unaffected by full MCO in Malaysia. Money shall flow from full MCO affected stocks to LC TITAN

Port is essential services and they are 94% Transhipments at North Port & PTP, money shall flow from full MCO affected stocks to MMC CORP

Gas Malaysia & Malakoff with recurring stable earnings, market is giving PE 15, with payout ratio of 53% and approximately 3.5% yield

Conservatively assuming the port earnings sustains to provide eps 3 cents every qtr, at PE 15 you will have MMC CORP TP at 1.80, and with payout of 53% you will have dividend yield of 3.5%.

Considering that Port earnings is recurring and that it has annual growth rate of 9% and that as explained by the theEdge weekly last week that it will not be able to list / float its port business, market has all the reasons to treat MMC CORP equivalent to its utility businesses...

In all consideration TP 1.80 would be valid

https://www.theedgemarkets.com/article/airport-port-operators-can-optimise-workforce-ensure-activities-not-affected

In welcoming the National Security Council’s (MKN) decision to limit the private sector workforce capacity to 60% in an effort to prevent further outbreaks of Covid-19, Wee, however, said delivery of essential goods through airports and ports nationwide to their intended destinations must not be affected or hindered to ensure adequate supply.

“Therefore, I have instructed airport and port authorities as well as operators only to optimise their operational staffing levels to their respective needs to ensure that import and export activities are not adversely affected during the MCO 3.0 period,” he said in a statement today

...........

safe haven stock compared to the rest in bursa next 2 years

HDPE Prices in China Expected to Increase in Long-Term, Says Beroe Inc.

Apr 01, 2021

https://www.prnewswire.com/news-releases/hdpe-prices-in-china-expected-to-increase-in-long-term-says-beroe-inc-301259231.html

There is an existing potential for market growth in China owing to the HDPE market share being mainly controlled by Asian markets. There has been a slow demand-growth in 2020 that may have its consequences on the Chinese market. But a detailed study of the HDPE market analysis shows that with no further plant additions beyond 2022, the gap in the capacity and demand may widen in the future

In the first and second quarters of 2021, there will be a percentage of increase in prices, due to steady and consistent demands. The present trends make for a predictable increase in prices in the following months of 2021.

The present trend of the price increase in the HDPE industry in China assures a greater margin for resin producers. There is a 20-30 percent increase in the margin available for integrated producers. For smaller production companies, the margin stands at 10-20 percent on average.

A bright future for petrochemical projects in Asia

April 21 2021

https://www.lexology.com/library/detail.aspx?g=7d506b7d-3071-4eb9-90fb-b1d7c54a4155

The rise in Asia’s refining capacity will increase the supply of feedstocks, such as naphtha, LPG and basic petrochemicals like ethylene and propylene, that is available in the region for petrochemical projects. It also may increase regional demand for petrochemical blend stocks that are used as fuel additives, such as toluene, xylenes and MTBE.

Despite its extensive investment in petrochemical capacities, China is likely to remain one of the world’s largest petrochemicals importers as demand continues to outstrip capacity. The potential to export products to China will continue to provide great opportunity for petrochemical projects in other countries in Asia.

These projects may hold increasing appeal for investors not only in Asia, but globally, as certain value chains become more regionalized in Asia and more companies consider localizing supply chains to place production nearer to demand growth and reduce potential trade barriers.

https://www.plasticstoday.com/resin-pricing/weekly-resin-report-demand-rises-%C2%A0start-month-and-so-does-pricing

All about the largest port in Malaysia

https://www.thestar.com.my/business/business-news/2021/05/15/all-about-the-largest-port-in-malaysia

According to PKA chairman, Datuk Chong Sin Woon, PKA has a good land bank around the area, making Port Klang well placed to grow over the next 20 to 30 years.

“We have the capacity, and we want the efficiency to catch up. Over the long term, we want to be more than just a container port, as we wish to be multipurpose by having a slice of the servicing, bunkering, maintenance, and shipyard businesses, ” said Chong, who added that the grand vision is to turn Pulau Carey and surroundings into a port city.

“If we have a idea on how to turn the place into a harbour city, we will have a catalyst to change Klang as a whole by transforming it into a modern, clean, harbour city. PKA has about 40ha (100 acres) of land there, part of it currently under the North Port concession.

"I’ve spoken to North Port on the matter. In five to ten years, there should be a good plan for Port Klang that will benefit Selangor, and possibly elevate Klang into the league of beautiful port cities such as Sydney, Melbourne, Qingdao, and Shanghai.”