RUG PULL

dont listen to uncle d la...how many times u all want to kena burn?

last chance to chao before PN17

PN17 soon

KWAP also sell d...karim sudah karam

KUALA LUMPUR: Malaysian state-linked fund management company Permodalan Nasional Bhd (PNB) has expressed "deep concern" about the issues at Serba Dinamik Holdings Bhd , which is facing an investigation over unverified contracts.

Oil and gas services firm Serba said last week that its auditor KPMG had not been able to verify contracts and transactions totalling 3.5 billion ringgit ($850 million) with 11 customers, prompting an investigation by Malaysia's Securities Commission.

Serba said there are no issues with the contracts and plans to appoint an independent firm to review the issues. On Friday Serba's second-largest shareholder proposed removing KPMG as auditor.

In a statement emailed to Reuters on Wednesday, PNB, Serba's fifth-largest shareholder, said it told the company board of its concerns and that it does not believe there is merit in removing the appointed auditors before finishing the annual audit.

https://www.thestar.com.my/business/business-news/2021/06/02/serba-dinamik-shareholder-pnb-has-039deep-concern039-after-audit-issues-raised

Now everyone can cook too..

RUN NOW

Just be careful IMHO

Fraudulent or Dubious sales to jack up profits.

Any Co with intention to fraud in inflating Co profit or report fraudulent profit could be artificially jacking up its profits over the years. Few Suppliers for different type of services or projects coming from same address is a Red Flag. Customers coming from same address is Double Red Flag. This is happening in Serbak as reported in Edge on KPMG seeking audit clarifications.

The fact during press conference and explained by a Director of Serbak which was reported in Edge that its customers awarding contract paid directly to Serbak’s suppliers make it More suspicious.

Which customer want to involve in such messy administrative process to pay its supplier’s creditors?

Ask yourself as a Turnkey Contractor will u ask the Co awarding u the contract to pay to your suppliers and let them know how much u made. I think it is just blatant fraud of using credit note to knock of debtors against suppliers. They may not even have the cash flow or money to pay into clear dubious debtors and pay off the dubious creditors.

Generally, for such fraudulent acts of jacking up the profit, Co just announced the dubious contracts secured and progressively raised billings and at same time get dubious suppliers to raised billings for work done. Assuming 20% is the net profit margin from the “Dubious” contract which is not collectible unless owner made money from the share market and pump money in to clear the debtors. Which owner will do it? Very unlikely, usually the Co will later do kitchen sinking and impair and write off the dubious debtors.

When no kitchen sinking to impair and clean up the 20% profit keep snow balling and obvious to auditors something is not right with debtors not paying and outstanding 20% uncollectable profit. As uncollectable 20% debtors snowball after few years, when Co has 10 woks and 6 covers, the Incompetent Auditors will gradually pick it up and smell the rat

High end frausters (Co) will find the fund to pay in showing receipt from debtors and use the receipt to pay 80% of the progress billings or to pay the dubious suppliers. Just becareful if KPMG confront the issue, you better sell off you shares.

All partners of KPMG and partners involved with the audit will have a meeting on how to resolve the audit impasse and decide on the course of action after deliberating for hours. The partners on Serbadk job sure kena tiu why did not flag out earlier

Urgent warning

If you have these 3 stocks

1. Serba
2. Kpower
3. Scib

Must sell immediately for these reasons

1. A clear case of book cooking

2. Stock manipulation

3. All profits are fake
Receivables or IOU.

4. Profits cannot be verified as they are in faraway places like Nepal and Middle East

5. Dwindling cash so they ask for money like Xinquan.
Xinquan was said to have Rmb1 billion cash but still ask for money by rights issue

In the end auditors refused to sign

So is Serba. Auditors smelled a rat

6. High receivables also found in Sendai.
Calvin warned qqq3333 about Sendai. He stubbornly invested 50% of his capital in Sendai at Rm1.50. Today he is silenced as Sendai fell from Rm1.50 to only 24 sen (Send Die!)

All Sendai (IOU) turned into bad debt
All IOUs in Serba, Kpower and Scib are suspect

These dangerous stocks should be avoided at all cost

You have been warned

Don't be itchy to buy or trade

Just sell all and run!

RIP steel

run

one word run now before ASP drop kaw kaw

as expected 1.6bn pat

Result out PAT 1.68 B dividens 0.30

KUALA LUMPUR, May 5 — The US Customs and Border Protection has seized a shipment of 3.97 million nitrile disposable gloves from Malaysia’s Top Glove Corp Bhd estimated to be worth US$518,00 (RM2.1 million), on indications they were made by forced labor, it said Wednesday.


CBP on March 29 issued a forced labor finding based on evidence of multiple forced labor indicators in the world’s largest medical glove maker’s production process.

It had initially banned products from two of Top Glove’s subsidiaries last July, but extended the ban to all of the manufacturer’s products made in Malaysia in March.


The indicators included debt bondage, excessive overtime, abusive working and living conditions, and retention of identity documents, the CBP said in a statement.

https://www.malaymail.com/news/malaysia/2021/05/05/us-customs-seizes-top-glove-shipment-following-forced-labour-finding/1971758

2.50 coming soon, steel is flying

its coming, follow the SamChem trend

cash 5bn, profit prospect 1+bn , market cap only 7.6bn as of today, sharp investors will know its undervalued.

tell me why didnt you expect this 2/3 months ago when you kept promoting glove stocks?

its not high now when Q2 hit another 400m

https://www.thestar.com.my/business/business-news/2021/04/28/asian-polymer-prices-expected-to-peak

logically speaking, next quarter we should see about another 400m also

RM3.50

sky is the limit now

this QR is not like normal QR, will be record PAT, continue to up after QR

NTA rm5.20 + 400m PAT next few quarters, price now is a steal for the sharp-eyed

TP RM2.40

yes Q1 and Q2 will be around 400+ mil PAT, TP RM3.75

coming QR 400mil + expected

BUDGET PASSED, no windfall TAX !

5 Jan 2021

marketcap 18bn, 2021 pat - 6bn, 2022 pat - 2bn, cash 2.4bn : total already get back 10.4bn..

cheap cheap cheap

way too cheap

marketcap 18bn, 2021 pat - 6bn, 2022 pat - 2bn ; total already get back 8bn.. whats the problem ?

EMCO OVERRRRRRRRRRRRRRRRRRRRRRRR

sell insurance business then after that privatise...revised NTA easily RM 5

buy and hold. easily RM25

relax...TG got 8k workers in Klang, as of yesterday already screen 6k, today screen finish 2k, after 2 weeks settle la...why all so scared?

Malaysia Boleh ma, got what cannot kao dim one ?

dont worry...heard Tan Sri just promised to bring our HR Minister for glove exhibition and holiday in US once covid settle down

run fast tmr, 28 money printing machine closed is no joke,

tomorrow limit down only buy back

28 / 29 factories CLOSED, good game

last chance to accumulate

news is coming out

to please UMNO

coming defence ministry MRO contract