Serbadk has clearly stated an independent reviewer wil b appointed asap

In the meantime

Wat Serbadk is trying to do in the meantime is to do damage control firstly by sending a message to investors.. by saying we r confidence we r right to the extent tat we dare to legal actions

I m jz wit a strong sense of right n wrong



https://klse.i3investor.com/blogs/patheticfallacy/2021-06-26-story-h1567055447-SERBA_DINAMIK_WHY_SERBADK_S_LEGAL_SUIT_IS_NOT_FRIVOLOUS.jsp


Posted by OrlandoOilSemiconIoT > Jun 23, 2021 9:49 PM | Report Abuse X

Loosing money is one thing


KPMG shd has been more conclusive


KPMG shd not have spoken before obtaining the IRREFUTABLE EVIDENCE

Well tis is free country

Go ahead those who want to believe stock kingdom

https://klse.i3investor.com/blogs/patheticfallacy/2021-06-26-story-h1567055447-SERBA_DINAMIK_WHY_SERBADK_S_LEGAL_SUIT_IS_NOT_FRIVOLOUS.jsp

OrlandoOilSemiconIoT My england my ang mo not good


Kindly read again carefully tis time n advise


unnecessary here is referring to the impasse or the appointment?





Stock Kingdom When I tried to put myself in the shoes of KPMG in communicating & meeting with the BOD.

I was not satisfied with the replies from the management and were opinions that the explanations & evidences/proofs provided by the management need to be verified independently & required forensic investigation, which may not be within the expertise of an audit firm or/and within the terms of engagement.

To resolve the matters, I proposed the management to appoint an independent reviewer where the reviewer can be empowered to engage/employ/appoint private investigators, lawyers, or/and other agencies to investigate & verify the subject matters.

By doing so, I trust that we can easily confirm the creditability & validity on the evidences & replies by the management.

HOWEVER, THE MANAGEMENT BELIEVED IT WAS UNNECESSARY!!!

So how?


###############
58. The Plaintiff further states, as noted in Paragraph 23 of this Statement of Claim, that the impasse created by the Defendant in demanding for a 3rd Party independent review was unnecessary in the circumstances and would cause adverse speculation in the market against the Plaintiff as known or ought to have been within the knowledge of the Defendant.

27/06/2021 2:47 AM





sukesuke OrlandoOilSemiconIoT My england my ang mo not good


Kindly read again carefully tis time n advise


unnecessary here is referring to the impasse or the appointment

*****

I was about to ask the same question, my understanding of that particular extract of the article differ totally from the learned Stock Kingdom. Probably due to my bad England too

27/06/2021 8:44 AM

X

OrlandoOilSemiconIoT Stock Kingdom d powerful england we r waiting for ur learned explanation

27/06/2021 8:50 AM

Stock Kingdom d powerful england we r waiting for ur learned explanation

My england my ang mo not good


Kindly read again carefully tis time n advise


unnecessary here is referring to the impasse or the appointment?





Stock Kingdom When I tried to put myself in the shoes of KPMG in communicating & meeting with the BOD.

I was not satisfied with the replies from the management and were opinions that the explanations & evidences/proofs provided by the management need to be verified independently & required forensic investigation, which may not be within the expertise of an audit firm or/and within the terms of engagement.

To resolve the matters, I proposed the management to appoint an independent reviewer where the reviewer can be empowered to engage/employ/appoint private investigators, lawyers, or/and other agencies to investigate & verify the subject matters.

By doing so, I trust that we can easily confirm the creditability & validity on the evidences & replies by the management.

HOWEVER, THE MANAGEMENT BELIEVED IT WAS UNNECESSARY!!!

So how?


###############
58. The Plaintiff further states, as noted in Paragraph 23 of this Statement of Claim, that the impasse created by the Defendant in demanding for a 3rd Party independent review was unnecessary in the circumstances and would cause adverse speculation in the market against the Plaintiff as known or ought to have been within the knowledge of the Defendant.

27/06/2021 2:47 AM

My england my ang mo not good


Kindly read again carefully tis time n advise


unnecessary here is referring to the impasse or the appointment?





Stock Kingdom When I tried to put myself in the shoes of KPMG in communicating & meeting with the BOD.

I was not satisfied with the replies from the management and were opinions that the explanations & evidences/proofs provided by the management need to be verified independently & required forensic investigation, which may not be within the expertise of an audit firm or/and within the terms of engagement.

To resolve the matters, I proposed the management to appoint an independent reviewer where the reviewer can be empowered to engage/employ/appoint private investigators, lawyers, or/and other agencies to investigate & verify the subject matters.

By doing so, I trust that we can easily confirm the creditability & validity on the evidences & replies by the management.

HOWEVER, THE MANAGEMENT BELIEVED IT WAS UNNECESSARY!!!

So how?


###############
58. The Plaintiff further states, as noted in Paragraph 23 of this Statement of Claim, that the impasse created by the Defendant in demanding for a 3rd Party independent review was unnecessary in the circumstances and would cause adverse speculation in the market against the Plaintiff as known or ought to have been within the knowledge of the Defendant.

27/06/2021 2:47 AM

If one has d IRREFUTABLE EVIDENCE one would dare to qualify ones opinion


Why dare not qualify?


Mind u there is such a as giving a wrong opinion




Stock Kingdom As auditors of the company, if I think the replies & answers given by the company do not satisfactorily enable me to give a true & fair view towards the accounts of a company & the management refused or unable to furnish further conclusive proofs, i may only have below choices:

1) give adverse/disclaimer opinion on the accounts
2) report to SC
3) accept the answers & give clean view

What will you do if you are the auditor?

———————-
Hints for thought:

1 & 2, Serba will die & auditors will be safe

3, Serba celebrate & KPMG will not sleep well, remember fine 2,2mil & settlement 324mil paid by Delotte over 1MDB case

27/06/2021 2:47 AM

My england my ang mo not good


Kindly read again carefully tis time n advise


unnecessary here is referring to the impasse or the appointment?





Stock Kingdom When I tried to put myself in the shoes of KPMG in communicating & meeting with the BOD.

I was not satisfied with the replies from the management and were opinions that the explanations & evidences/proofs provided by the management need to be verified independently & required forensic investigation, which may not be within the expertise of an audit firm or/and within the terms of engagement.

To resolve the matters, I proposed the management to appoint an independent reviewer where the reviewer can be empowered to engage/employ/appoint private investigators, lawyers, or/and other agencies to investigate & verify the subject matters.

By doing so, I trust that we can easily confirm the creditability & validity on the evidences & replies by the management.

HOWEVER, THE MANAGEMENT BELIEVED IT WAS UNNECESSARY!!!

So how?


###############
58. The Plaintiff further states, as noted in Paragraph 23 of this Statement of Claim, that the impasse created by the Defendant in demanding for a 3rd Party independent review was unnecessary in the circumstances and would cause adverse speculation in the market against the Plaintiff as known or ought to have been within the knowledge of the Defendant.

27/06/2021 2:47 AM

See u in court o

I see u in court !!

I see u in court is not d natural path of the guilty la

No one expects KPMG to b cowed

In any case independent review is unavoidable even wit court case



qqq3333 sorry Orlando... u will not agree with my next statement. but Serba actions is the natural path of the guilty.... things do flow in a natural way

26/06/2021 7:15 PM

U r lower much lower thn average man on d street

Certainly not by a MF like u


AlsvinChangan Samada IRREFUTABLE EVIDENCE atau Tahi EVIDENCE

siapa yang decide ? Bapok kau?
26/06/2021 6:31 PM

KPMG's process is flawed in so far as reporting to SC/Bursa is concerned

Maybe too cannot get IRREFUTABLE EVIDENCE after being so long in audit process

KPMG's process is flawed in so far as reporting to SC/Bursa is concerned

Maybe too cannot get IRREFUTABLE EVIDENCE after being so long in audit process

https://klse.i3investor.com/blogs/patheticfallacy/2021-06-26-story-h1567055447-SERBA_DINAMIK_WHY_SERBADK_S_LEGAL_SUIT_IS_NOT_FRIVOLOUS.jsp

Posted by OrlandoOilSemiconIoT > Jun 26, 2021 6:11 PM | Report Abuse X

qqq3333

Agree with u tis point and only tis point

Karim is all I m innocent why should I b the one to prove...

Not a good strategist instead honest to a fault (but is good for current context)

As the 1st step Karim shd run through all Serbadk projects n contracts wit details disclosure everything fr profit % stage of completion etc etc etx to go bare naked




and go on an offensive to explain their business/ figures / forecasts...Serba needs help, professional help not jumping up and down like a headless snake.

26/06/2021 5:56 PM

qqq3333

Agree with u tis point and only tis point

Karim is all I m innocent why should I b the one to prove...

Not a good strategist instead honest to a fault (but is good for current context)

As the 1st step Karim shd run through all Serbadk projects n contracts wit details disclosure everything fr profit % stage of completion etc etc etx to go bare naked




and go on an offensive to explain their business/ figures / forecasts...Serba needs help, professional help not jumping up and down like a headless snake.

26/06/2021 5:56 PM

There r 3000 average man on the street here


U r one of them



Posted by Huangbk72 > Jun 26, 2021 5:48 PM | Report Abuse 

OrlandoOilSemiconIoT Huang


U silly

If SC already has d hard IRREFUTABLE EVIDENCE tis case would hv ended before it started


Case closed by now


Whew... luckily the market doesnt think like you.. everyone is normal except you.

Market cap drop from 6B to less than 2B.. and you think everyone else is wrong.. haha

Huang


U silly

If SC already has d hard IRREFUTABLE EVIDENCE tis case would hv ended before it started


Case closed by now



 Posted by Huangbk72 > Jun 26, 2021 5:42 PM | Report Abuse 

OrlandoOilSemiconIoT No no no

U want accuse someone of wrong doing u better provide the evidence

Anyway u hv failed to appreciate the technicalities of the legal sue

A average man on the street u


Haha.. since when Im sifu grade?.. Im cleaner ( favorite word here) grade and it seems you are worse than me..

If Auditors doesnt sign off accounts.. and have to provide evidence for public to see? Its between SD and KPMG la.

How you know there is no evidence? If no evidence, SC go raid SD? You are dumbing down SC.

Dont worry.. sooner or later, you will see how silly your comments are

If KPMG has IRREFUTABLE EVIDENCE KPMG shd qualify Serbadk accounts at tis very moment

If KPMG has d IRREFUTABLE EVIDENCE and qualified the accounts I don't think Serbadk dare to sue

There is 3000 average men on the street here

There r sifu here

But u r not one of them

No no no

U want accuse someone of wrong doing u better provide the evidence

Anyway u hv failed to appreciate the technicalities of the legal sue

A average man on the street u


Huangbk72 OrlandoOilSemiconIoT Fair enough wit the opinions

Qualify la

But truth is even at tis moment now today KPMG cannot tell if wat it has flagged r in fact true pending a 3rd party review

Upto MAYBE not IRREFUTABLE EVIDENCE


Since you like to harp on IRREFUTABLE EVIDENCE.

1)IRREFUTABLE EVIDENCE is to be provided by SD and given to KPMG. WIthout IRREFUTABLE EVIDENCE, how KPMG qualify audit?

2)KPMG requested 3rd party audit to provide IRREFUTABLE EVIDENCE that shows SD has IRREFUTABLE EVIDENCE that their accounts is real.

Not the other way around.. you understand?

What you asking is silly actually and only myself bothered to answer you. I dont see the other sifu here replying.

26/06/2021 4:49 PM

Any basis for u to assume it won't b a tripartite legal case involving the shareholders too?

It is almost certain Karim wil be one of the parties

All shareholders better keep your purchase notes etc



PSAi3alert OrlandoOilSemiconIoT,

It will not go to trial. The alleged losses in market capitalization are suffered by the shareholders. Serba has yet to demonstrate any losses in business operations (actual or fictional). The company does not have the locus standi to claim for losses in market cap. The case will be struck off as frivolous and abuse of court process.

What will possibly proceed to trial is KPMG's defamation suit against the chairman and shareholders' suit against the directors when the company goes belly up. And, if there is any dissipation of assets, subsequent holders of those trust assets are also liable. There is only one case law in Malaysia that contained the word 'RETROSPECTIVELY' as to the time when the constructive trust arises.

The case law is:
ZAHARAH BT A. KADIR (Acting as the Authorised Representative of Abdul Kadir bin Ami, Deceased) v RAMUNIA BAUXITE PTE LTD AND PROMET BERHAD

Lady Ramunia continues to haunt... (can your feel your hair stand on your back?)


[114] A constructive trust arises automatically. It is to be construed retrospectively from the time of the circumstances which give rise to it. The
common vein running through all the species of constructive trust is this:
that the liability of any person to act as a constructive trustee is predicated on that person having knowledge of some factor which is deemed to affect his conscience sufficiently strong enough in order to justify the invocation of the principle of constructive trust (Westdeutsche Landesbank Girozentrale v Islington London Borough Council [1996] AC 669, HL).


OrlandoOilSemiconIoT WHY SERBADK'S LEGAL SUIT IS NOT FRIVOLOUS
26/06/2021 4:32 PM

26/06/2021 4:58 PM

Tis is technical don't hurt yourself trying to figure it out

Yeah

U r better than the lawyers better thn the insider who told NST

u r so average man on the street



Posted by Stock Kingdom > Jun 26, 2021 4:36 PM | Report Abuse

Kindergarten standard article

Fair enough wit the opinions

Qualify la

But truth is even at tis moment now today KPMG cannot tell if wat it has flagged r in fact true pending a 3rd party review

Upto MAYBE not IRREFUTABLE EVIDENCE

WHY SERBADK'S LEGAL SUIT IS NOT FRIVOLOUS

https://klse.i3investor.com/blogs/patheticfallacy/2021-06-26-story-h1567055447-SERBA_DINAMIK_WHY_SERBADK_S_LEGAL_SUIT_IS_NOT_FRIVOLOUS.jsp

This is precisely wat I hv been saying

KPMG has lodged a SC report has spoken too soon whn it was jz at MAYBE long BEFORE it has IRREFUTABLE EVIDENCE


The legal suit WILL STICK





https://www.nst.com.my/business/2021/06/702410/serba-dinamik-vs-kpmg

Upto MAYBE as such KPMG failed to form an audit opinion tat an auditor wit IRREFUTABLE EVIDENCE conviction dare to

Tis is precisely the problem KPMG has performed its audit upto MAYBE



“In this regard, KPMG has in our view performed a substandard auditing work for they failed to form a professional opinion




“It is, therefore, noteworthy to acknowledge that Section 320(1) of the CMSA 2007 requires that an auditor form a professional opinion that there has been a breach before they can make a report to SC,” a company source told FocusM.

“In this regard, KPMG has in our view performed a substandard auditing work for they failed to form a professional opinion on the matter and therefore could not have acted in good faith – in fact they acted in bad faith.”

KPMG had character assassinated Serbadk even whn all it has is a MAYBE

leehenry1999 u r specimen 2 of d average man on d street influenced by KPMG

Red flagging yet has d audacity to ask for change of year end to buy time to finish its audit

Red flagging is not a problem


I only ask for IRREFUTABLE EVIDENCE BEFORE red flagging


KPMG has failed miserably on tis basic requirement

Karim sailang d

Whn any 1 of d 3 big 4 accepted the appointment as auditors of Serbadk the drama is over Serbadk backs to life as usual

So KPMG has sent in its letter

https://klse.i3investor.com/blogs/patheticfallacy/2021-06-22-story-h1566972618-SERBADK_Who_caused_the_BLOW_UP.jsp

So KPMG has resigned



Let's do a bit of character assassination like KPMG has done wit its MAYBE



KPMG has resigned KPMG knows it has bin negligent


KPMG must hv done something wrong otherwise why resign

Oh yes U r a good specimen of d average man on d street influenced by KPMGs MAYBE




goldenluck16 SD is a gone case ...no hope. Sell, no need to think twice or talk thrice.

24/06/2021 9:00 AM

WE CANNOT COMMENT AT TIS JUNCTURE as d AUDIT IS STIL IN PROGRESS

https://klse.i3investor.com/blogs/patheticfallacy/2021-06-22-story-h1566972618-SERBADK_Who_caused_the_BLOW_UP.jsp

WE CANNOT COMMENT AT TIS JUNCTURE as d AUDIT IS STIL IN PROGRESS


Anything more thn tis would surely trigger SC n BURSA


KPMG cannot goes MAYBE he is guilty but our audit is still progress

After the 4b damage n some now u r saying d audit is stil in progress


Right fr d BEGINNING KPMG shd hv told SC BURSA sir WE CANNOT COMMENT AT TIS JUNCTURE as d AUDIT IS STIL IN PROGRESS



"The potential claim relates to a statutory audit that is still in progress and we are unable to make any comments," the audit firm said.

So u tell me has KPMG bin negligent?

KPMG has gone public wit mere suspicion

Need IRREFUTABLE EVIDENCE not mere suspicion

IRREFUTABLE EVIDENCE

Even in court of laws EVIDENCE comes first

https://klse.i3investor.com/blogs/patheticfallacy/2021-06-22-story-h1566972618-SERBADK_Who_caused_the_BLOW_UP.jsp


Was KPMG negligence or not??