Posted by Flintstones > 2015-10-29 06:43 | Report Abuse

Good article. Wish to see you share more of such in future.

Posted by SuperMan 99 > 2015-10-29 09:47 | Report Abuse

Thanks for your comment, Flintstones.

I wanted to write down as record, to remind myself to look at it in 2016.

Posted by shinado > 2015-10-29 13:27 | Report Abuse

Nice, keep it up!

Posted by Superman > 2015-11-02 16:27 | Report Abuse

when superman meets superman 99~~
nice review and i am surprised that there are people like you that actually read audit report and understand to that extent~~ i think you have a really good point..

Anyway, put those aside~~Cypark has not even get their concession agreement signed while already recognised all those meaningless paper profit~~how ridiculous is that~~and on what basis the auditors agree to recognise it~~

technically you cannot even start work without the regulator's approval and signing of the concession agreement~~so there could be a huge risk that all their work done will not be paid~~

i wonder why Bursa and Securities Commission still has not wake up to look into this counter...

Posted by SuperMan 99 > 2015-11-04 14:57 | Report Abuse

It's great feeling when 2 supermen met. :)

Thanks for the additional info & I totally agreed with you on your points, Superman.

Firstly, I've seen the profits kept growing over the years but the Company is still crying for monies.

Secondly, what put me in the dark is the huge intangible assets recorded in the accounts & nothing much of the details was disclosed in the Annual Reports.

I want to make sure I put my money at the right place & that's why I've decided to dig deep to see what was really there.

Now another surprise to me is the concession agreement was not even signed at the first place, then what should it supposed to be?

Maybe all I can say now is Malaysia Boleh???!!!

Posted by SuperMan 99 > 2015-11-21 13:57 | Report Abuse

Finally, agreement signed.

Posted by 25023 > 2016-01-03 18:08 | Report Abuse

Superman 99
Great job to give us a true insight
Forget about bursa or sc
These days supervision is surface only as they place the onus on the companies and auditors on the financial numbers