The way it goes, the BOD respond,another LD is expected tomorrow

Those buggers think the dark clouds can be cleared by removing the auditors. They are making things worse and they will keep haunting the company,which is pernicious...

Pang 72,can.....u are the opportunist......

As I said,harbinger of penny stock until the dark clouds have been cleared.....

Harbinger of Penny stock

Serba has failed to exercise the good practice of Corporate governance.the way it goes, no stone must be left unturned.

THE Institutional Investors Council (IIC) has joined the Minority Shareholders Watch Group (MSWG) in objecting to the proposal by Serba Dinamik Holdings Bhd board to remove external auditor KPMG PLT in light of the flagging of some audit matters in relation to the company’s FY2020 financials.

This is because such move shall undermine the corporate governance process considering that external auditors play a major role as gatekeepers, according to its adviser Lya Rahman.

“After all, it is their (KPMG’s) responsibilities to highlight any issues of concerns, in particular those pertaining to financial transactions and how contracts were awarded which in Serba Dinamik’s case, appear to be questionable.” she told FocusM.


Lya Rahman
“Why the urgency to remove KPMG before the commencement of investigation and the results of the investigation known?

“Why is the company’s non-independent non-executive (Datuk Abdul Kadier Sahib) proposing to remove KPMG? What is the role of its audit committee and board? And who recommended the appointment of BDO PLT as replacement? Has due process on the removal and nomination taken place?”

In a Bursa Malaysia filing late last Friday (May 28), Abdul Kadier who holds a 15.96% stake in Serba Dinamik has mooted the convening of an extraordinary general meeting (EGM) to appoint BDO as KPMG’s replacement pursuant to Sections 277 and 322 of the Companies Act 2016 for the company’s financial year ending June 30, 2021.

“A comprehensive investigation needs to be undertaken independently to get to the bottom of the issue with no stone to be left unturned. The independent directors are now expected to play their role independently and not beholden to any major shareholder or management,” asserted Lya.

With regard to Serba Dinamik’s move to set up an independent international review parties to evaluate KPMG’s findings, Lya further commented:

“What is the scope of work by these independent parties? Why can’t they conduct internal enquiry to review the issues raised by KPMG? What is the role of audit committee and internal auditors on this?

“The concern is also on the composition of the independent committee as announced by the company – by having members of the management – how can the committee be deemed as independent?”

Oblivious to what was brewing in Serba Dinamik, the EPF had in this month alone (between May 4 and 24) acquired 1.8 million shares in the O&G industry player to bring its stake in the company to 10.16%.

MSWG’s viewpoints

In echoing IIC’s stance, a MSWG’s CEO Devanesan Evanson urged all minority shareholders to vote against the resolution to remove the auditor.


Devanesan Evanson
As part of good governance, KPMG should be allowed to complete their work and report to Serba Dinamik’s shareholders at the company’s forthcoming AGM, he added.

“Since the company is setting up a special independent review by appointing an independent firm to assess the veracity and accuracy of the matters brought up by the external auditors, the external auditor should be around to defend their findings and explain themselves,” he opined.

“There is no urgency to remove the auditor at this juncture. As such, MSWG urges all shareholders to vote against the resolution to remove the auditor.”

Very broadly, the shareholder activism group is of the view that external auditors are appointed by shareholders to provide an independent opinion on whether a company’s financial statements present a true and fair view.

“The external auditors’ opinion on a company’s financial statements will be presented in the annual report along with the audited financial statements,” suggested MSWG. “In addition, the external auditors will be present at the AGM to address shareholders queries in relation to their opinion.”

Having been suspended since May 27 (Thursday), Serba Dinamik is widely expected to resume trading tomorrow (May 31). The company was last traded at RM1.61 on May 25 with a market capitalisation of RM6 bil. – May 30, 2021

No choice I need to attend the expected coming EGM as a shareholder after which I can sell to you cheap if you are interested...

I need to interrogate the BOD for a lot of fishy issues....

The moment of truth will be unfolded tomorrow morning. Cheap sale and or harbinger of penny stock remain to be seen...

Due to whims and fancy,I have collected some......its just unexplainable.

The previous auditors have resigned half wsy even before serving their term til the coming AGM. Why resigned in a hasty manner? You should know better.....pl refer to my previous posts

Hi mabel.....

Figures can still be amended and or adjusted in the unaudited acc but the incorrect figures must
Not be included in the audited reports, which is pernicious and far reaching.....

Whoever takes over as the next auditors is better to increase their professional indemnity insurance cos they will be susceptible to be sued for negligence if they don't address to the irregularities in a professional manner.

Given the circumstances of the irregularities, any other auditors would adopt the same approach as KPMG as KPMG has duly complied with the auditing standards and generally acceptable auditing standards.

No point to whimper and crawl back to KPMG.
Kpmg will not compromise their professionalism of high integrity and independence.

They don't lose but win through their professionalism and trust of the investors worldwide especially when you are engaged in international dealings.

The auditor will not be subservient and will not hesitate to qualify the audited report not reflected as true and fair view

The auditors have the right not to resign until the next AGM.their contact of service is effective from previous AGM to the next AGM

The ways it goes ,KPMG will not be reappointed in the coming AGM..thats for sure.

Meanwhile,let them leave no stone unturned during their tenure...

1.The auditors have implied that Materials on site are non-existent or not worth as reported by mgt even though payments to suppliers have been paid.

2.the receivables are non -existent and non- collectable where significant impairment need to be provided.

3.payables are non- existent,payments to them are unjustifiable.liabilty is non existent but payments to them are still made

Fishy and more fishy issues are exposed....

Why the auditors have raised the elementary queries ? Simply they smell something fishy in simple laymen term. They owe the duty of care to all the stakeholders at large which includes IRB

The auditors are performing the statutory independent audit.they have the right to verify the veracity and accuracy of each and every balances and or transactions in particular
Material transactions to be reported in the audited reports.

It is believed thst the explanations given by the mgt can not be either substantiated by other forms of evidences or collated to the evidences obtained in hand.

There is nothing wrong for KPMG to raise the queries which they sense fishy with the view to clear the dark clouds.

Post the news to me in private.....I will get it translated

No matter how many times the auditors are changed,the investors will haunt you down as far as the irregularities are not addressed to in a transparent manner.

Now then the irregularities have been exposed,it is interesting to see how the new auditors will tackle the teething issues under their professionalism.the auditors could be sued for negligence if they are proven to have failed to exercise their duty of care in the conduct of fair and reasonable audit under the auditing standards and general acceptable guidelines

I believe KPMG has followed the auditing standards and general acceptable guidelines in the exercise of their duty of care.


it is not easy to challenge them given the fact that they have duly deliberated the said issues with their pool of talented resources suppoted by expert opinion worldwide. KPMG would not compromise their integrity and professionalism.

It would be best to reach an agreement with them to avoid the harbinger of plummet of the share price and loss of confidence of other stakeholders....

The auditors were misled by the top mgt who has the intention defraud in 1MDB case.the auditors could not be blamed for that.the board of directors had failed to deliver their fiduciary duties....

you are at liberty to remove the auditors any time you want ,but the auditors have the right to present statement surrounding the circumstance of their removal at the AGM where shareholders have the right to know.eventuslly it will become publicly available information widespread like wild fire resulting in significant havoc and exodus from the market.

The twist of the board to remove the auditors is a harbinger of the plunge of price as the irregularities are still hanging in the air unattended to ,which is pernicious.......

you are at liberty to remove the auditors any time you want ,but the auditors are at liberty to give statement surrounding the circumstance of their removal ,which will have a significant impact on the financial standing which might cause havoc and exodus from the market.

The twist of the board to remove the auditors is insidious and far reaching as the irregularities are still hanging in the air unaddressed and unattended to. it is a suiciding ....

the auditors are not bloodhound but watch dogs. They conduct their process of audit based on the information and explanation given to them by the Management . If the Management has the intention to fraud by presenting the wrong or misleading information and explanation to the auditors, there is nothing much the auditors can do provided that they carry out their audit in accordance with their auditing standards.

If however, they discover irregularities through their process of audit , they must highlight to the attention of the Mgt for further action. the Mgt just cant turn a blind eye to the irregularities. the auditors owe a duty of care to the stakeholders at large as a professional .

if you disagree with the auditors , you must justify it why you disagree with them. you may seek for second view/opinion by engaging another independent expert of the relevant fields or areas of concern to conduct the study

If nothing can be countered and/or justified following the second opinion, then by removing the auditors is insidious and unthinkable...... a very silly move by the Top Management

The auditors must ensure that the audited reports are free from all the misstatement and irregularities before they are laid to the stakeholder at large. they provide the stakeholders with the reasonable assurance that the audited reports are fair and credential in light of all the information and explanations surrounding to the company available to them.

the auditors are reasonable people who are of high integrity and independence. the audited reports are highly relied on for investment decision. The top management should work with auditors to address the issues instead of adopting the drastic measure of removing the auditors, which is insidious to send a signal to the world that the company is fishy and dubious

the moment when investors are beginning to cast doubts with scepticism on the company, a harbinger of the plummet in the share price is unstoppable. The recent proposal by the second largest shareholder is very pernicious to his own worth and the prospect of the company as a whole..

Wrong!..glove and vaccine will not limit up next monday except for.......to be announced on next monday.....

Fishy more fishy

As highlighted in my previous post ,the Russian Direct Investment Fund (RDIF) has signed deals with three Chinese biopharmaceutical companies for the production of over 260 million doses of its Sputnik V vaccine in China mainland.

1.on March 29, Shenzhen Yuanxing Gene-tech Co., Ltd.- 60 million doses of the Sputnik V

2. on April 1 , the Tibet Rhodiola Pharmaceutical Holding, namely TopRidge Pharma, - 100 million

3.in May ,Chinese biopharmaceutical producer Hualan Biological Engineering Inc.-100 million doses.

RDIF has been transparent in their open deals which is exemplary and complimentary unlike ucrest is perceived to be on the contrary. The signing of formal agreement with RDIF is yet to be finalised and any moment it will be declared " bygone be bygone".

Basically,if you don't know how to interpret it without sense and have literally taken as it means ,then there is something wrong with your dirty mind......thats your problem,not mine.

Basically,if you know how to interpret them with a little bit of sense of humour, there is no element of vulgarity unless of course you have literally taken to mean them..

Nevertheless, I have three words for you
" broaden your horizon "

There is no need to tell me the money you have made .I am not interested to know cos it is easy come and easy go.
I am free to say what is deemed to be appropriate in the circumstances in the spirit of freedom of speech....

In the best of what?
in the best of screwing people upside down and inside out like a fxcker? Or
in the best of making from climax to climax with your dick ?
Or in the best of antagonising people like a nuisance?
You'd better to be in the best of making money out of ucrest or else you are in the best of nothing......

Today's descent is seen as a harbinger of worse times to fall or better times to come?

As said,,don't count the cocks before they are hatched ,probably no cocks at all in the end....

What the hell is going on?

If I were you, I would not deride at others but welcome them for the sake of good spirit and uphold the freedom of speech...

Today's rise is seen as a harbinger of better times to come or worse times to fall?

Again ,don't count the cocks before they are hatched ,probably no cocks at all in the end....

I thought that's the shocking thing you guys want? What do you expect again?

I let thd BOD reveal..

It seems that the lesser is revealed by me,the better,the happier you guys feel.....

The announcement was shocking .right?

Sorry to say all the news is subject to be verified beyond reasonable doubts before it is revealed as it might have a big impact on the share price..

Be patient.

The board of directors is also waiting for it.....

I see eye to eye to his points which I have also highlighted in my previous posts one way or the other.all my views posted before are fairly objective from the circumstances surrounding the deal.

As I have mentioned before, It is always savvy to invest in counters with sound fundamentals and potential future growths in your portfolio.However,you are at liberty to invest in company with high risk .its up to your risk attitude. No one forces you . Just like you have the choice to go to heaven or hell...your choice.

If you disagree, you are free to rebut with valid proposition instead of disagreeing for the sake of disagreement due to your ego or something .finally I have four words for you " open up your mind". Refrain from being blinded and delusional without a second thought.

We don't belittle at the shortcomings of others. You should be thankful for not being born retarded. Not one is retarded here. we trust one another to make the world a better place to live in..
Don't try to be funny like those clowns...

please dont jump the gun too soon. we have yet to start the Russian roulette

In case you dont know , Russian roulette is a lethal game of chance in which a player places a single bullet round in a revolver, spins the cylinder, places the muzzle against his or her head.

your fate of luck will be then determined by just one trigger, do or die situation . As from now ,we have yet to start the Russian roulette. Be patient, your turn will come ...........................

The truth is out there .my quest for the truth will never end and will continue to be intensified to leave no stone unturned....

My interminate quest for the truth is larger than my gain and your gain too perhaps...

The shocking news is still under analysis to ascertain the authenticity and truth beyond reasonable doubts before the cat is let out of the bag.

Meanwhile,you guys just keep cool and be patient.

News from Russia......very shocking. ..

They understand but they have chosen not to understand ie ignorance......