Posted by CharlesT > 2021-06-05 12:15 | Report Abuse

Quite unusual too...normally in Bolehland many things can.be kaotim and avoid the rm3B loss...

Maybe KPMG got a lot of people with high intergrity like me???

Posted by stockraider > 2021-06-05 12:17 | Report Abuse

The answer is KPMG must exercise very high integrity learning from 1mdb case mah!


Posted by CharlesT > Jun 5, 2021 12:15 PM | Report Abuse

Quite unusual too...normally in Bolehland many things can.be kaotim and avoid the rm3B loss...

Maybe KPMG got a lot of people with high intergrity like me???

Posted by Sslee > 2021-06-05 13:10 | Report Abuse

Philip selectively apply double standard when he question me on Insas gaming the account which I even has clarified with the Board and external auditors during AGM.

But he dare not even answer is Block 7 LLC is part owned by Karim.

https://www.theedgemarkets.com/article/so-much-going-will-serba-dinamik-ever-regain-its-lost-lustre

Meanwhile one of Serba Dinamik’s largest jobs to date — a RM7.7 billion contract for engineering, procurement and construction of innovation hub, academic campus, related facilities and infrastructure in Abu Dhabi awarded by Block 7 Investments LLC and secured in April 2020 — has also come under the spotlight, with questions of who actually controls Block 7, and if it is linked to Abdul Karim.

With so much going on, will Serba Dinamik ever regain its lost glory?

Read more about it in The Edge Malaysia weekly’s June 7 edition.

Posted by i3lurker > 2021-06-05 13:15 | Report Abuse

why not?

where is Jho Low?

Posted by probability > 2021-06-05 13:24 | Report Abuse

sifus....how to buy the bond? appears very attractive

will the bond holders have the same rights as debtors usually do upon liquidation of the company

will they be given first priority to retrieve their capital from whatever they get from assets liquidation?

Posted by Sslee > 2021-06-05 13:25 | Report Abuse

On Insas deposits and cash balance in Banks and financial institution:
Question: The Auditors were requested to confirm how they verified the existence of the Group’s deposits with licensed banks and financial institutions of RM554 million during their course of audit.

Answer: Ms Foo Lee Meng from Grant Thornton Malaysia replied that the bank balances and deposits have been verified by way of inspection of bank statements and direct written confirmation from the banks and financial institutions, and the auditors are satisfied that Insas Group has the said amount of cash with the banks and financial institutions.

Posted by probability > 2021-06-05 13:26 | Report Abuse

i support both carlest sifu and philips...i am only here for the truth...

this could be either a jackpot like mmc corp i had or just a lure to get my fingers burnt

Posted by CharlesT > 2021-06-05 13:30 | Report Abuse

I may support r Junior Auditor Theory in return....

Posted by Sslee > 2021-06-05 13:59 | Report Abuse

Dear CharlesT,
On China's cases:

Dear SC Chairman Tan Sri Ranjit Ajit Singh and SC's Chief Regulatory Officer Foo Lee Mei,

My Heartfelt Congratulations to SC and both of you for a very successful InvestSmartSC (invest for your future) Fest 13-15 Oct 2017 and InvestSmart ScamBuster Run 2017.

Please allow me to quote part of your speech:

In the span of less than two years, it was reported that more than 500,000 Malaysians fall victim to scams. In view of this prevalence, it is critical for investors to take the necessary precautionary measures in order to prevent falling victim to these malicious schemes. Therefore, investor education plays a key role in SC’s mandate of ensuring adequate investor protection. Our financial and investment literacy programs are designed to create awareness and empower individuals to make informed investment decisions.

For your information I attended my first ever Xingquan AGM on Dec 2016 and CSL AGM on May 2017. I come out very disappointed knowing that the CEO was lying through their teeth and get away with it. Not helping is the attitude of the external auditors keep saying their audit work is confined to the scope specified by client and complied with the requirement of SC/Bursa regulation and audit SOP. They have no moral obligation to raise alarm and further investigate whether their client illogical action (CEO selling his share at RM 7 cents when the bank balance alone is worth about RM 1 dollar and no dividend) illogical explanation (3.6 millions pair of tailored made shoes was rejected by an unnamed government agency) is a red flag warning signs of fraud. (Please refer to my many emails with CC to SC on Xingquan and CSL)


From my last meeting with Bursa Malaysia on 10-10-2017, I was told Xingquan CEO had become recalcitrant. Did not gave monthly update to Bursa Malaysia on the status of appointment of new CFO, Company Secretary, Independent Directors, Audit committee or Q3 and Q4 financial report. Worst still CEO Dato’ Wu did not respond to Bursa Malaysia inquiry on the material litigation and seem to be un-contactable.


It is very clear by now that many of the RED CHIP companies listed in Bursa Malaysia are Scammers come after our Malaysian millions. May I ask who should play the roles of Scam Buster and protest the integrity of Bursa Malaysia and to take the necessary precautionary measures in order to prevent investing public falling victim to these malicious scams?

Posted by stockraider > 2021-06-05 21:42 | Report Abuse

Definitely hanky panky loh....if it was so easy like probability said, definitely the auditor will not red flag as kpmg are very experience people in the audit field, they have seen many similar type of serba of situation b4 loh!

The other thing, why the normally conservative credit agency, gave a very big downgrade Serba credit rating by 3 notches down to super junked of B minus leh ?

Surely they feel something very fishy loh...!!
By having such a very low credit rating....the whole Sukuk Program is in technical defaults & the banks will be recalling their sukuk loans now!

This will set the bankruptcy proceeding rolling loh..!! If that happen the equities or the share value of serba will have zero value bcos the lenders will have the 1st claim on Serba Assets mah!

I think u will be digging your own grave...if u listen to probability...taking serba current pressing problem very likely loh!

If u r willing to gamble & prepare to see your investment in serba becoming zero, then by all means gamble on it loh!

But u actually do not need to take such big risk now...if u cut & run at least u get back 76 sen per share compare to zero & at least limit your losses loh..!!


Posted by i3lurker > Jun 5, 2021 9:16 PM | Report Abuse

probability is way better than 2 Global rating agencies
coz probability punya binocular stock check bounces off the Inmarsat satellite

and can count those materials on site with an accuracy of plus minus 2 microns
he can even tell you what the staff had for lunch and whether they had sex before going to work

CharlesT Rating Agency downgraded their bond to junk bond...maybe they dont hv some smart employee like Probability...or another junior staff's work??

Posted by stockraider > 2021-06-05 21:47 | Report Abuse

SSLEE,

It is time for u to stop crying over split milk...take this as your greatest investment lesson in life & move on to become much smarter investors loh...!!

U will be very lucky if u can recover 2% to 5% of your original capital...most of the time, most investors did not recover anything in this type of distress business mah!


Posted by Sslee > Jun 5, 2021 1:59 PM | Report Abuse

Dear CharlesT,
On China's cases:

Dear SC Chairman Tan Sri Ranjit Ajit Singh and SC's Chief Regulatory Officer Foo Lee Mei,

My Heartfelt Congratulations to SC and both of you for a very successful InvestSmartSC (invest for your future) Fest 13-15 Oct 2017 and InvestSmart ScamBuster Run 2017.

Please allow me to quote part of your speech:

In the span of less than two years, it was reported that more than 500,000 Malaysians fall victim to scams. In view of this prevalence, it is critical for investors to take the necessary precautionary measures in order to prevent falling victim to these malicious schemes. Therefore, investor education plays a key role in SC’s mandate of ensuring adequate investor protection. Our financial and investment literacy programs are designed to create awareness and empower individuals to make informed investment decisions.

For your information I attended my first ever Xingquan AGM on Dec 2016 and CSL AGM on May 2017. I come out very disappointed knowing that the CEO was lying through their teeth and get away with it. Not helping is the attitude of the external auditors keep saying their audit work is confined to the scope specified by client and complied with the requirement of SC/Bursa regulation and audit SOP. They have no moral obligation to raise alarm and further investigate whether their client illogical action (CEO selling his share at RM 7 cents when the bank balance alone is worth about RM 1 dollar and no dividend) illogical explanation (3.6 millions pair of tailored made shoes was rejected by an unnamed government agency) is a red flag warning signs of fraud. (Please refer to my many emails with CC to SC on Xingquan and CSL)


From my last meeting with Bursa Malaysia on 10-10-2017, I was told Xingquan CEO had become recalcitrant. Did not gave monthly update to Bursa Malaysia on the status of appointment of new CFO, Company Secretary, Independent Directors, Audit committee or Q3 and Q4 financial report. Worst still CEO Dato’ Wu did not respond to Bursa Malaysia inquiry on the material litigation and seem to be un-contactable.


It is very clear by now that many of the RED CHIP companies listed in Bursa Malaysia are Scammers come after our Malaysian millions. May I ask who should play the roles of Scam Buster and protest the integrity of Bursa Malaysia and to take the necessary precautionary measures in order to prevent investing public falling victim to these malicious scams?

Posted by stockraider > 2021-06-06 00:40 |

Post removed.Why?

Posted by CharlesT > 2021-06-06 07:43 | Report Abuse

https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/2021-06-05...\

KUALA LUMPUR (June 3): Fitch Ratings has downgraded Serba Dinamik Holdings Bhd's Long-Term Issuer Default Rating to 'B-' from 'BB-', following questions raised over the quality of its earnings by its auditor. The rating agency has also downgraded Serba Dinamik's senior unsecured sukuk due 2022 and 2025 to 'B-' from 'BB-', with a Recovery Rating of 'RR4

Just out of my curiosity, if later Serbak is being cleared of the scandal and boh tai chi can the bondholders who sold n cut their bonds fm 100 to 30 due to this downgrade sue Fitch for their losses ah?

Posted by Sslee > 2021-06-06 10:31 | Report Abuse

Haha,
Stockraider I am using every opportunities to hit at the conscious of SC and Bursa to do their job and help us minority shareholders to be more effective at AGM in holding the Board and external auditor answerable, accountable and responsible.

Posted by stockraider > 2021-06-06 12:48 |

Post removed.Why?

Posted by stockraider > 2021-06-06 12:51 |

Post removed.Why?

Posted by stockraider > 2021-06-06 18:28 | Report Abuse

The other thing, why the normally conservative credit agency, gave a very big downgrade Serba credit rating by 3 notches down to super junked of B minus leh ?

BANKRUPTCY PROCEEDING OF SERBA IS ROLLING MAH!
Surely they feel something very fishy loh...!!
By having such a very low credit rating....the whole Sukuk Program is in technical defaults & the banks will be recalling their sukuk loans now!

This will set the bankruptcy proceeding rolling loh..!!
If that happen the equities or the share value of serba will have zero value bcos the lenders will have the 1st claim on Serba Assets mah!

I think u will be digging your own grave...if u listen to probability...taking serba current pressing problem very lightly loh!

FOR THE HIGH RISK GAMBLERS
If u r willing to gamble & prepare to see your investment in serba becoming zero, then by all means gamble on it loh!

U DO NOT NEED TAKE BIG RISK & LOSE EVERYTHING IF U TAKE ACTION NOW
But u actually do not need to take such big risk now...if u cut & run at least u get back 76 sen per share compare to zero & at least limit your losses loh..!!


Posted by information > Jun 6, 2021 5:57 PM | Report Abuse

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.”

Posted by LaoTzeAhSir > 2021-06-07 22:26 | Report Abuse

charlest is like a bltch seeking for master attention, desperately. so funny.

Posted by LaoTzeAhSir > 2021-06-07 22:27 | Report Abuse

stockraider? not even worth mentioning. a waste of time.

Posted by calvintaneng > 2021-06-07 22:32 | Report Abuse

LaoTze or Lau Foo Tze

Watch this https://www.youtube.com/watch?v=C4AvKW6m62s

Posted by CharlesT > 2021-06-08 06:33 | Report Abuse

Posted by LaoTzeAhSir > Jun 7, 2021 10:26 PM | Report Abuse

charlest is like a bltch seeking for master attention, desperately. so funny.

U also stuck badly in Serbak ah? lol

Posted by CharlesT > 2021-06-08 06:36 | Report Abuse

After get burnt in Glove....lol

Trust me, idxxts can hardly survive in Stock Mkt...go place FD better for u

Posted by Philip ( buy what you understand) > 2021-06-08 09:16 | Report Abuse

Haha serves you right Calvin tan. Lim yuern chern became so pissed off with armchair "accountant" that he decided to reply your directly and teach you a little bit about how to value businesses.

Posted by stockraider > 2021-06-08 11:57 | Report Abuse

Correct mah....why do u want a heavy borrowing company like yinson with limited assets backing & earnings backing compare to Rock steady Ijmplant leh ?

Posted by vincent555 > Jun 8, 2021 11:42 AM | Report Abuse

sell one lemon Yinson at Rm4.88 can buy 2 diamond Ijmplant at Rm2.44.Ijm plant giving 10 sen dividend while Yinson only 2 cent pittance dividend.Ijmplant with Cpo price over Rm4000 a ton now full of Cash

Yinson only full of borrowings

Ijmplant

Yes! Yes!! Yes !!!

Posted by stockraider > 2021-06-08 12:20 |

Post removed.Why?

Posted by scenery > 2021-06-08 12:24 |

Post removed.Why?

Posted by Philip ( buy what you understand) > 2021-06-09 09:57 | Report Abuse

Scenery and stockraider, please stop posting here in my PERSONAL THREAD.

I3 MODERATORS, PLEASE DO SOMETHING ABOUT THE TOXICITY OF THIS FORUM.

WE ARE HERE TO DISCUSS ABOUT INVESTMENTS, NOT TO BOAST AND INSULT AND BELITTLE.

Posted by Sslee > 2021-06-09 10:02 | Report Abuse

bobochacha https://www.theedgemarkets.com/article/serba-dinamik-bags-rm771b-contr...

In an exchange filing today, the firm said its wholly-owned unit Serba Dinamik International Ltd (SDIL) accepted the letter of award last Sunday from US-based Block 7 Investments LLC for the four-year project, which is set to commence on May 14.

http://www.block7investments.com/

then i check check check, block 7 is a JV between serba and efire capital

https://efirecapital.com/

vice chairman of efire is abdul karim.

then i check check, efire is another JV. A joint venture of Liwa Investment Holding of Abu Dhabi and Serba Dinamik Holdings Limited of Malaysia.

So now at least we know who are the owners of block 7
https://focusmalaysia.my/markets/serba-dinamik-of-praises-and-lack-of-ineds-proactiveness/
Meanwhile, amid a fluid scenario with the counter hitting a new low of 61 sen, Serba Dinamik has again denied that there was an element of related party transaction in the undertaking of Block 7 Investments, a joint venture between Efire Capital and Serba Dinamik for the development of the Block 7 Innovation Hub in the Industrial City of Abu Dhabi (ICAD).

This follows the signing of a long-term land lease agreement on April 24 by Block 7 Investments with Abu Dhabi Government-owned ZonesCorp, one of the largest operators of purpose-built economic zones in the United Arab Emirates.

Serba Dinamik is the 49% owner and Liwa Investment owned 51% of Efire Capital. On March 2, upon the finalisation the land matter with ZoneCorp, Efire Capital become the 99% owner and Liwa Investment retained 1% direct ownership of Block 7.

“This move is to strengthen Serba Dinamik’s strategy to own a strategic asset worldwide. Prior to that, Block 7 is 100% owned by Liwa Investment where the appointment of Serba Dinamik for undertaking the RM7.7 bil contract was made,” explained Serba Dinamik in a WhatsApp text sighted by FocusM.

“To-date, Serba Dinamik had not recorded any revenue for the above but has even incurred some preliminary consultants’ fees for the project. Save as disclosed above, none of the directors/major shareholders of Serba Dinamik has any direct/indirect interest in Block 7.”

Posted by scenery > 2021-06-09 17:58 |

Post removed.Why?

Posted by Philip ( buy what you understand) > 2021-06-10 04:49 | Report Abuse

Armchair analyst Calvin tan is now a star.

I wonder if he knows what non recourse means.


>>>>>>>

https://www.vice.com/en/article/akgkwj/operation-trojan-shield-anom-fbi-secret-phone-network

Posted by stockraider > 2021-06-10 13:45 | Report Abuse

Never say never mah!

Serba & Yinson, both use to be the darling of KLSE investors mah!

Both Yinson & Serba share similarity in attributes of high debts n continuation of huge borrowing & debt raising almost every year loh!

Over leverage is a recipe of bankruptcy as per Warren Buffet advice loh!

Posted by Philip ( buy what you understand) > 2021-06-10 16:04 | Report Abuse

Buying serbadk bonds may have been a brilliant move, thanks so much to choivo and Lawrence. At 40 cents to the dollar and expiry 2022, they can't afford to default on this bond. Good prices indeed.

Posted by Philip ( buy what you understand) > 2021-06-10 16:05 | Report Abuse

You know what is non recourse?

>>>>>>>>
stockraider Never say never mah!

Posted by stockraider > 2021-06-10 20:06 | Report Abuse

REMEMBER THE BOND HOLDERS RANKED AHEAD OF SHAREHOLDERS, IF BOND SUFFERED 70% LOSSES, THAT MEANS HIGH CHANCE SERBA COMPANY GOING TO BANKRUPT LOH!

Trading at -70% below par, have Serba Dinamik’s bonds hit rock bottom?

SHARES of Serba Dinamik Holdings Bhd have plummeted by more than half following the resumption of trading.

The bonds of Serba Dinamik suffered a similar fate with bid quotes for their USD bonds SDHMK 6.300% 09May2022 Corp (USD) and SDHMK 6.997% 12Mar2025 Corp (USD) reaching as low as 30 cents to the US dollar (70% below par).

On May 25, Serba Dinamik announced that its external auditors have flagged concerns about matters relating to its statutory audit. The company informed that it will soon appoint an independent firm to verify the audit matters. On May 28, a company response was provided to the queries raised by Bursa Malaysia which we will be examine in this article.

Examining KPMG’s raised issues

Referring to Serba Dinamik’s unaudited results for financial year ended Dec 31, 2020, we noted that the RM608.94 mil increase in trade receivables during 2020 is nearly equal to the RM652 mil of receivables flagged by KPMG.

Furthermore, COVID-19 exacted turmoil in the energy industry last year where oil prices plunged and countries were cutting production.

However, Serba Dinamik grew its gross profits for its operations & maintenance (O&M) segment by 26.5% year-on-year (yoy).

Yet Table 1 shows that other similar energy companies listed in Malaysia have seen a decline in annual revenue. During 2020, Serba Dinamik reportedly increased its revenue by 32.8% yoy.


Source: Bloomberg Finance LP, iFAST compilations

Additionally, in December 2018, Serba Dinamik made a 30% acquisition in eNOAH iSolution India Pvt Ltd for RM 15 mil to improve its IT solutions segment. In 2019, its share of total comprehensive income from eNOAH was RM 1.14 mil. However, with this acquisition, its 2019 audited gross profits from the information, communication, and technology (ICT) segment multiplied by about 10 times to RM21.23 mil.

Subsequently in 2020, gross profit for this segment increased by 206.79% to RM65.13 mil in what seems to be amazingly quick growth.

While we have the company’s balance sheet and credit ratios in Table 2 and 3 respectively, there is a chance that the some of the numbers may be subjected to change due to the company’s fluid and developing situation as well as the questions brought up by KPMG.

This makes analysis more difficult but we will rather be safe than sorry in this situation due to the below reasons.

The group is required to maintain a maximum gearing ratio of 2.00 times debt-to-equity, failing which this could trigger an event of default from lenders.

There is a possibility that the equity value of the company would fall after the balance sheet has been finalised by auditors.

In addition, we believe that the company’s ability to access capital markets has been materially constrained and its cloudy liquidity position could make it hard to justify the bid prices for the SDHMK 6.300% 09May2022 Corp (USD) and SDHMK 6.997% 12Mar2025 Corp (USD).

In other words, we believe that the recovery value could be even lower than current depressed pricing of around 30-40s. As such, we advise investors to exit from the bonds. – June 9, 2021

Posted by Jack Khan > 2021-06-12 10:17 | Report Abuse

Looking back on [wkc5657] comments last 5 month. Keywords like "Turnaround", "Win + Injecting Contract", "private placement" is too good to be true!
About point no. 3 "1 real surprise is their vendor acquisition transparency. For most big listed companies, to be their vendor, either they come to you, you have to market very hard to give your proposal, or you have connections. However for serba/scib/kpower, as long as you have the valid documentations, you can register through their website. A very good example for many companies actually."
I think this is actually too good to be true as well.
_____________________________________________________________________________________________________________________________
wkc5657 Philip, after spending a few hours last weekend on the rough overview of scib, kpower, and serba dinamik, i gained some sense of your bullishness towards them. Your view is proven very right by your return on all these 3 counters, especially scib and kpower.

Just some rough thoughts, i didn't go deep detail and industry understanding to your level :
1) Karim is genuinely one of the rare role models of bumiputra business leader, more like syed mokhtar + ytl + ananda krishnan combined, with a hint of steroids. Really respect his ability in undertaking such complex operations and business deals and continue to grow serba's revenue and maintaining the margins. I read your article on your reasonings in investing into serba/scib/kpower 3 times over the period of 2 months, truly like you say, if Karim is non bumi (and maybe a less BM company name like Omni Dynamics?), there is less racial bias discount and probably a premium for company leader like this. I don't even think Tim Cook of apple can handle a company like serba dinamik.
2) judging by the turnaround of scib and kpower, the ability/connection of Karim and gang to win+inject contracts is bearing fruit. His management experience in serba dinamik really put into overdrive for the turnaround of 2 counters, a good showcase of Karim's deep abilities/connections.
3) 1 real surprise is their vendor acquisition transparency. For most big listed companies, to be their vendor, either they come to you, you have to market very hard to give your proposal, or you have connections. However for serba/scib/kpower, as long as you have the valid documentations, you can register through their website. A very good example for many companies actually.
4) i think serba dinamik have a 50% chance of requiring another private placement if the knock on effects of the current abu dhabi deals bring in more future contracts in the middle east.

However, i don't understand :
a) SCIB and serba dinamik is synergistic, but can't figure out how kpower fits into their bigger picture. Kpower started out as a specialty fabric company and after Karim take over, and now expanding into infrastructure/EPCC like activities.
b) What is the reason that owning 2 more companies, injecting some contracts into them instead of just take it all under serba dinamik wing?
c) Is Karim trying in another way to prove to the market that serba deserves better valuation by getting people's attention into scib/kpower then relating it back to serba dinamik?
d) Would it be a good time now to invest into serba or wait till the private placement is completed?

Appreciate your insights on this.

Posted by stockraider > 2021-06-13 11:40 | Report Abuse

U see b4 Enron, Transmile and Hyflux issue had not blown out ,everybody agree will still agree the major shareholders and Ceo are capable & great like genius mah!

That is the problem, when the share price keep going up, everybody will ignore the inherent weaknesses & keep discounting the high debt & the operational risk as nothing mah!

Thus people should recognise the early warning sign of exceptional high debts as one of the potential disaster plus the relentless expansion of the company using debts, with no regards to the risk of weakened balance sheet bcos of the very high debts.

Therefore people should also always be very careful on similar company like Yinson as highlighted by sifu calvin on the potential risk, generally the the public will always feel willy nilly & complacent, when share price holdings up & when the business is showing growth loh..!

Remember to ask like warren buffet "what is the quality of earnings loh?"
Pls Quietly leave party early the party, when everybody are very excited mah!

Posted by Sslee > Jun 13, 2021 11:09 AM | Report Abuse

wkc5657 Philip, after spending a few hours last weekend on the rough overview of scib, kpower, and serba dinamik, i gained some sense of your bullishness towards them. Your view is proven very right by your return on all these 3 counters, especially scib and kpower.

Just some rough thoughts, i didn't go deep detail and industry understanding to your level :
1) Karim is genuinely one of the rare role models of bumiputra business leader, more like syed mokhtar + ytl + ananda krishnan combined, with a hint of steroids. Really respect his ability in undertaking such complex operations and business deals and continue to grow serba's revenue and maintaining the margins. I read your article on your reasonings in investing into serba/scib/kpower 3 times over the period of 2 months, truly like you say, if Karim is non bumi (and maybe a less BM company name like Omni Dynamics?), there is less racial bias discount and probably a premium for company leader like this. I don't even think Tim Cook of apple can handle a company like serba dinamik.
2) judging by the turnaround of scib and kpower, the ability/connection of Karim and gang to win+inject contracts is bearing fruit. His management experience in serba dinamik really put into overdrive for the turnaround of 2 counters, a good showcase of Karim's deep abilities/connections.
3) 1 real surprise is their vendor acquisition transparency. For most big listed companies, to be their vendor, either they come to you, you have to market very hard to give your proposal, or you have connections. However for serba/scib/kpower, as long as you have the valid documentations, you can register through their website. A very good example for many companies actually.
4) i think serba dinamik have a 50% chance of requiring another private placement if the knock on effects of the current abu dhabi deals bring in more future contracts in the middle east.

Posted by Philip ( buy what you understand) > 2021-06-23 15:18 | Report Abuse

Finally, Chin pekat shows his fangs. good ipo.

Posted by Philip ( buy what you understand) > 2021-06-23 15:19 | Report Abuse

or as someone called him... chin pendek. Good job on the listing and the sharing.

Posted by Sslee > 2021-06-24 13:59 | Report Abuse

Waiting to see when Philip going to cut win or cut loss on serba/scib/kpower?

Posted by Hoho22 > 2021-06-25 07:18 | Report Abuse

For sharing and not abusing others!

Posted by CharlesT > 2021-06-25 11:08 | Report Abuse

Philip dont just quietly cut loss or cut win in instagram only...U also got supporters here in I3

Posted by Sslee > 2021-06-25 11:31 | Report Abuse

I am the biggest fan and supporter of Philiip, waiting for Philip to sell before I buy.
Already proven everytime Philip sell his share the share price will move up.

Posted by CharlesT > 2021-06-25 14:35 | Report Abuse

Is that so? Philip is so powerful?

But Karim's Co i kia kia lah

Posted by Sslee > 2021-06-25 17:06 | Report Abuse

Wow Philip's Karim stocks serba/scib/kpower now no more cut win looking at unrealized book loss. What a change of fortune.

Posted by KINGV > 2021-06-25 17:42 | Report Abuse

Philip,I sincerely hope you have better days ahead.

Posted by i3lurker > 2021-06-25 18:59 | Report Abuse

never gloat

It is a sign of character weakness and jealousy
This character weakness will kill you off.

Example in Games of Thrones, the Mountain managed to kill Oberyn coz Oberyn wasted time gloating instead of killing Mountain immediately

lu paham?

Posted by Sslee > Jun 25, 2021 5:06 PM | Report Abuse

Wow Philip's Karim stocks serba/scib/kpower now no more cut win looking at unrealized book loss. What a change of fortune.

Posted by Philip ( buy what you understand) > 2021-06-25 20:09 | Report Abuse

Yes, it seems more and more likely that I will be cutting my position soon in serba due to the actions of management which I seem to be a fundamental change in business

Posted by Philip ( buy what you understand) > 2021-06-25 20:16 | Report Abuse

Sold my entire position in kpower and scib. Still at a sight profit for to selling previously earlier and all the warrants to maintain position of uncertainty. Will monitor serbadk for now.

Posted by Philip ( buy what you understand) > 2021-06-25 20:19 | Report Abuse

Thanks and appreciated. But it is still a small position for me and the risk was totally understood when I got into the investment. Might be a good action to take moving forward. My stoneco position is my largest position this far abd currently my Tesla position as well bought at 575 is doing well.

I think I can survive this :)

Sslee... Do look at the transactions and look at the total profit from my scib/kpower investment ya inclusive of warrant sales. You may be surprised at how much I actually lost.

>>>>>>>
KINGV Philip,I sincerely hope you have better days ahead.
25/06/2021 5:42 PM

Posted by Sslee > 2021-06-25 20:41 | Report Abuse

@i3lurker,
I am not gloating. I admit I like to pull Philip's leg but I am actually concerned for Philip and forced him to take some action to either cut win or cut loss.

I had to admit also no matter how much I try, I can never be as good as Philip.