Posted by probability > 2021-06-16 12:22 | Report Abuse

your judgement here is valid, however the fake company najmat llc was a big blow to trust serba...

hundred of millions transaction with this company alone

too many companies with having just google email id


Posted by Philip ( buy what you understand) > Jun 16, 2021 9:43 AM | Report Abuse

521 versus 521W. Really?

It is like going to ss15 and saying the house there is wrong, when you were supposed to go to ss15/2...

And if you don't even check back and review your " investigations" with management but straight become whistleblower to independent directors... I am waiting for egg on face.

Posted by qqq3333 > 2021-06-16 12:39 | Report Abuse

well, auditors liase with audit committe members is exactly what the Bursa rules says are the functions of audit commitee members.............

Posted by qqq3333 > 2021-06-16 12:41 | Report Abuse

its perverse to accuse KPMG some how of incompetence when auditors do exactly as Bursa/ sc rules intends them to do.

Posted by Philip ( buy what you understand) > 2021-06-16 13:55 | Report Abuse

I will reserve further comment until I get the EY independent review report.

Remember what happened to delloite

>>>>>>>>>

qqq3333 its perverse to accuse KPMG some how of incompetence when auditors do exactly as Bursa/ sc rules intends them to do.
16/06/2021 12:41 PM

Posted by Philip ( buy what you understand) > 2021-06-16 13:56 | Report Abuse

Najmat Al maisan technical services? Fake company eh? Thanks for the sharing. More research to do.

>>>>>>>>>

probability your judgement here is valid, however the fake company najmat llc was a big blow to trust serba..

Posted by ahbah > 2021-06-16 14:01 | Report Abuse

Philip can buy as mani bonds n stocks as U like. Just keep on buying please. They are all yours !

Posted by :-) > 2021-06-16 15:44 | Report Abuse

If Philip lost in Serba, he lost just a few millions only lah. His overall all portfolios are still intact.

Posted by qqq3333 > 2021-06-16 16:15 | Report Abuse

that is why don't just follow rich old men just because they are rich. As China says, every one is at a different stage of development

Posted by qqq3333 > 2021-06-16 16:42 | Report Abuse

last few years, Pchem, Serba, yinson Gkent is a preservation of wealth portfolio, not a money making portfolio

Posted by qqq3333 > 2021-06-16 16:43 | Report Abuse

I guess it serve it's purpose except Serba

Posted by qqq3333 > 2021-06-16 16:44 |

Post removed.Why?

Posted by qqq3333 > 2021-06-16 16:45 | Report Abuse

some more too emphasis in sun set industry OG..... bad strategy.

Posted by qqq3333 > 2021-06-16 17:36 | Report Abuse

last few years, u got $ 100 million, bursa where to put money with preservation in mind?

surely not easy.

very tough if u intend to invest and not sell

Posted by qqq3333 > 2021-06-16 17:37 | Report Abuse

wrong part of the cycle.

Posted by Trader258 > 2021-06-16 17:41 | Report Abuse

Yes, bought and stuck with more shares...

Posted by :-) > 2021-06-16 17:56 | Report Abuse

Don’t worry be happy like my face.

Posted by popo92 > 2021-06-16 20:07 | Report Abuse

For Najmat Al Maisan Technical Services LLC, is it really under ICT contract? On serba announcement it seems its under o&m segment: Provision of plant maintenance services, safety relief valve and other associated rotating equipment. add on services with ICT? Kpmg did not say Najmat Al Maisan is a fake company instead KPMG raised scepticism because Najmat Al maisan is not IT related company. Serba reply was that Natmaj is their sponsor's company who received contracts but doesn't have ict background. This is weird. I am also curious who have further studies on this?

https://www.thesundaily.my/business/serba-dinamik-secures-nine-foreign-contracts-BY5450663

Posted by DannyArcher > 2021-06-16 20:39 | Report Abuse

As a person into IT, I've never seen such a badly designed website by the Serba IT team. Their apps are... shall I say, rubbish.

First, let's look at the website, their so called IT for O&G with VR tech and customized solutions or whatever. No screenshots of the software, no real life demo of how the software+hardware works, no downloadable demo, no detailed explanation of what the software is capable of, just lots of meaningless bullet points. This is worse that a fake software website, at least you get more details from a fake software website.

https://serbaitsolutions.com/customized-solutions/

Look at Huawei's O&G solution, got 'Get Pricing/Info', got 'Case Study', you can download 'Brochure and Data Sheets'.

Baker Hughes also have something similar with lots of detailed explanation of what their software and solution do.

Serba? only fancy animation, nothing more. Makes me wonder what is going on.

Second, their IT office in India is in an Apartment? and their office address in Australia is a PO Box? Seriously? Okay, never mind, maybe they just branch off and dont want to waste money.

Third, Karim appears to be desperate to turn Serba into an IT company. In an article in theedge, Serba said they will put the block 7 project under the IT section and not EPCC. I find this very deceiving. I can accept if part of it goes to EPCC and part of it goes to IT if Serba does supply some IT stuff, but 100% goes to the IT department? He is trying too hard hoping investor will re-evaluate Serba with higher PE on par with the tech companies.

Posted by qqq3333 > 2021-06-16 20:43 | Report Abuse

higher PE...the dreams of ....

Posted by CynicalCyan > 2021-06-16 20:51 | Report Abuse

Uncle Philip, I have no idea how you buying Serba correlates to your story of The Dog.

The Dog was silly to try to be a Dragon, to go out of its capabilities, out of "circle of competence". But then again, had The Dog not tried and fail, it wouldn't land itself in a better situation.

So, you're saying if investors don't try to catch the bottom, they won't enjoy the technical rebound of Serba like you did?

I remember how you vilified Jon Choivo when he pointed out some issues he found on Serba then. Had you not attacked him ferociously, forcing him to tone down his thesis, more investors would have taken more notice of such risks in Serba. I'm sure some investors following your total conviction on Serba would have lost substantial amounts of money and in limbo now.

My guess for you writing this article is if Serba is found innocent, you'd chide others who didn't buy during discount day. And in the event Serba is found guilty (if ever), then you'd say, hey I didn't expect it to be that way, not my fault.

Posted by DannyArcher > 2021-06-16 21:00 | Report Abuse

Anyway Serba Dinamik logo is very ugly... as in very very very 80s. Also, their name is bad. Serba sounds like 死吧 in Mandarin. For those that dont read mandarin, it means 'Please Die'

Posted by Windy1974 > 2021-06-16 22:29 | Report Abuse

DannyArcher. Logo ugly is forgivable, just like Jack Ma can't decide his look haha.
However, being someone from the 70s, tq for pointing out SD website. For me, they won't look different.
But i am sure you are wrong. Uncle Karim company can even go space leh. After 1st after Malaysia's world first flying car. I am postponing my Australia PR because Malaysia now got flying car and going space. Uncle Karim will be richest man in the world taking over Elon Mask

Posted by DickyMe > 2021-06-16 22:33 | Report Abuse

How China Lost Patience with Its Loudest Billionaire

https://www.youtube.com/watch?v=Bmsz3Jn8z2Q

Posted by Windy1974 > 2021-06-16 22:41 | Report Abuse

CynicalCyan.
I believe one who promote certain stock is wrong only if he knowingly induce people to buy or sell with malice.
Not when you are convinced with it.
So, only God knows and the person knows.
However, i believe karma will strike such people

Posted by Foker > 2021-06-16 23:13 | Report Abuse

Windy u r talking about Koon Yew Yin.

Posted by Sslee > 2021-06-17 08:34 | Report Abuse

KYY is reckless risk taker. He win big and loss big. He had been cheated by many insiders so are many people feel been cheated by KYY. Action and reaction at play.

Posted by Windy1974 > 2021-06-17 09:46 | Report Abuse

Sslee. I reckon you are bias when it comes to KYY haha.
Now, a person came out and said the oil price has no effect on maintenance (Even if i assume he was misled by O&G people on this, his IQ should be lower than 80 to believe it), then after 2 weeks he declared he sold all Dayang. Probably you could enlightened me if there's no malice?

Posted by stockfreak > 2021-06-17 09:49 | Report Abuse

KYY is obviously trying to use his keyboard to his own benefit.

Posted by Windy1974 > 2021-06-17 09:51 | Report Abuse

Not to SSlee. I suspect SSlee fallen in love with KYY. Love is blind haha

Posted by CharlesT > 2021-06-17 09:58 | Report Abuse

https://klse.i3investor.com/blogs/koonyewyinblog/2015-12-30-story88909-Why_Am_I_Buying_Xingquan_Koon_Yew_Yin.jsp

Posted by Sslee > 2021-06-17 09:59 | Report Abuse

Haha,
My take on KYY.
https://klse.i3investor.com/blogs/Sslee_blog/2021-03-06-story-h1542059619-The_truth_Is_Mr_Koon_Yew_Yin_your_friend_or_foe.jsp

Posted by CharlesT > 2021-06-17 10:00 | Report Abuse

Is Xingquan a Good Bet? Koon Yew Yin
Author: Koon Yew Yin | Publish date: Tue, 5 Sep 2017, 9:21 PM

As you know, Xingquan was trading at between 2 sen to 5.5 sen in early June 2017. I bought a total of 50.5 million shares at an average price per share of 3.5 sen. I bought almost all the shares traded.

As you also know, Xingquan has been selling between 10-13 for some time and I have been accumulating it. Last year annual report shows that I have accumulated 36.4 million shares. Now I have a total of 86.9 million shares and my average price per share is 6.85 sen.

Is 6.85 Sen Per Share a Good Bet?

I recall that CIMB was the under writer at Rm 1.70 for its IPO about 7 years ago and the auditors was and still is SJ Thornton of Singapore. I remember its retired senior partner a Chartered Accountant, is my cousin who is also 84 years old like myself.

You can see in its latest accounts that its NTA is Rm 1.90 per share with a lot of cash in the bank. I cannot believe the company could simply cooked the books to bluff the highly respected auditors for so many years.

I visited Xingquan’s factory in Fujian. It used all its money from the IPO to build a large factory with hostel accommodation for 2,000 workers. These assets must have appreciated many folds.

The Question is Can I Trust CIMB and the Auditors?

I noticed that most of the shareholders complained that the company gave them very little dividend at every AGM and they do not believe the audited accounts is true. If only the company gives out a little more dividend the share price would be different.

It has been selling about 10 sens for quite a long time and I have been buying.

A few months ago when Securities Commission issued notice to Xingquan to submit the 3rd accounts or it would be suspended, its price dropped to 2 sen and I bought almost all the shares traded. I bought a total of 50.5 million shares at an average price of 3.5 sen.

According to Bursa announcement, Xingquan did not submit its 3rd quarter accounts in time because its accountant’s contract was not renewed. As a result, many shareholders rushed to dump their holdings.

The company announced that it is looking for a suitable accountant to be able to submit its 3rd quarter accounts.

It is only natural, one day the controlling shareholder will sell all the company’s assets to benefit themselves and all the shareholders. Its audited accounts shows that its NTA is Rm 1.90.

I can imagine the amount I will make from my 86.9 million shares, costing me 6.85 sen per share. I will be laughing all the way to my bank.

In any case, there is always some risk in buying any share. I think Xingquan is a good bet.

Posted by CharlesT > 2021-06-17 10:02 | Report Abuse

Xingquan is a Good Bet - Koon Yew Yin
Author: Koon Yew Yin | Publish date: Fri, 8 Sep 2017, 11:26 AM

I am sorry that I made a mistake in calculating my average cost per share in my previous article “Is Xingquan a good bet?”.

Xingquan was listed in 2009 with CIMB as the under writer at Rm 1.75 per share. I did not buy any share in 2009 and its it's 2009 annual account shows that I did not hold any shares.

As you know its price has been falling quite rapidly ever since the company was listed. I started buying it in 2010 when the price fell below Rm 1.00. Its 2010 annual account shows that I had a total of 17,005 million shares. I think my average price is about 70 sen per share.

(1) My cost is 17.005 X 0.70 = Rm 11.9 million and the price is falling rapidly ever since my purchase.

As you know, Xingquan has been selling around 10- 12 sen per share for a long time and I bought 19.4 million shares at an average cost of 11 sen per share.

(2) My total cost is 19.4 X 0.11 = Rm 2,13 million.

When SC gave notice of suspension, its price plunged to trade between 2-5 sen per share and I bought 50.5 million shares, almost all the shares traded during those few days.

(3) My total cost is 50,5 X .035 = Rm 1.77 million.

The total of (1) + (2) + (3) totalling 86.9 million shares costing Rm 15.8 million

My average cost is Rm 15.8 divided by 86.9 = 18 sen per share.

There is always some risk in buying any share. They say ‘No risk no gain and the higher the risk the higher is the gain”. There is also a saying “The higher you climb, the bigger you fall”. Which is right?

The game is not over yet!

Unlike the case of VS Industry; very few people knew that I had been buying VS so aggressively until I became the 2nd largest shareholder, holding 102 million share, as shown in its 2015 annual report. The price of VS shot up 550% within 18 months.

Now I am in the lime light. The whole investing community thinks that I am crazy.

At the same time, they also know of my successful track record.

The road to my successful track record is knowledge, confidence, willing to take calculated risk and patience.

If you are patient you can buy cheaper or sell at a higher price.

The reasons why I am willing to take the risk of buying so much of Xingquan shares are:

I visited Xingquan’s factory in Jinjiang, Fujian, China. Although I was so impressed, I did not start to buy Xingquan shares because I practise what I preach-patience! Patience! Patience!

Xinguan received more than Rm 100 million from the IPO and it spent it on building a huge factory with all the ancillary facilities and 7 blocks of flats to accommodate 3,000 workers on a very large piece of land given the Chinese Government for a song. The company also has 110 distribution outlets in some of the shopping malls in the larger towns and cities in China. All these assets would have appreciated by now and they belong to all the shareholders. All these solid assets cannot disappear in thin air.

That is why the audited account shows that its NTA is Rm 1.90 per share. Moreover, it has cash and no bank borrowings.

In early June, when so many people were rushing to sell before its suspension, I took the risk to buy 50.5 million shares, almost all the shares traded during the few days.

I was told the controlling shareholder is making preparation to comply with the rules of SC in order to relist the company.

Another possibility is that the controlling shareholders do not want to relist the company to avoid all the hassle. In this case, I will be holding shares of a Sdn Bhd company, just like most business men doing businesses in Malaysia.

I believe in human nature. Eventually, the controlling shareholders will want to realise their profit from their investment. As a result, I will get my share of the profit. I hope I am right!

Posted by CharlesT > 2021-06-17 10:08 | Report Abuse

KYY bought from RM1.50+ to RM0.025 b4 Xinquan suspended n delisted, despite my noble advices to him during the said 2 to 3 years, though he always cursed me on my bad England n my financial status (not bad lah but cant compare to him....)

At the end RM15.8M is gone.

Philip at worst lose few millions only in Karim's stocks n Serbak junk bonds...sup sup suai lah

Posted by CharlesT > 2021-06-17 10:11 | Report Abuse

Why Am I Buying Xingquan? Koon Yew Yin
Is Xingquan a Good Bet? Koon Yew Yin
Xingquan is a Good Bet - Koon Yew Yin

Why I bought even more SERBADK bonds and stocks- Philip

Deja Vu?

Hope Philip will not follow the same fate ah.....amen

Posted by Sslee > 2021-06-17 10:17 | Report Abuse

No worries,
Philip is more smarter than KYY but both have the same big ego.

Posted by CharlesT > 2021-06-17 10:27 | Report Abuse

Maybe...

Another plus point is Philip knew some internal staff of Serbak...may got insider news...

But I m not sure whether his insider is Karim or office boy or tea lady lah

Posted by qqq3333 > 2021-06-17 10:28 | Report Abuse

u mean rich old men? other things can change but money matters cannot change. serve u so well why change?

Posted by qqq3333 > 2021-06-17 10:31 | Report Abuse

Aokam Transmile Serba is part of the package together with all the successes.... no Yin no yang.

Posted by qqq3333 > 2021-06-17 10:32 | Report Abuse

if so scared of losses don't do Bursa la.

Posted by qqq3333 > 2021-06-17 10:32 | Report Abuse

want to do Bursa not scared of losses

Posted by Sslee > 2021-06-17 10:35 | Report Abuse

qqq3 must have make a lot of money from Bursa. Now also talk very big.

Posted by qqq3333 > 2021-06-17 10:54 | Report Abuse

me? I think I have under perform my ability.... I think I should be richer than kyy and Philip combined if only......

Posted by Sslee > 2021-06-17 19:41 | Report Abuse

Haha qqq3 if only you have invested in bitcoin and amazon 10 years ago you will be by now richer than kyy and Philip combined.

Posted by Gerard Lam > 2021-06-23 17:13 | Report Abuse

Philip, add or cut loss?

Posted by Alex™ > 2021-06-23 23:01 | Report Abuse

rip

Posted by CharlesT > 2021-06-27 06:11 | Report Abuse

https://klse.i3investor.com/blogs/koonyewyinblog/2020-05-23-story-h1507806755-Trump_lost_his_way_groping_in_the_dark_Koon_Yew_Yin.jsp

Xingquan delisted from Bursa

This reminds me of Xingquan International Sports Holdings delisted from Bursa Malaysia for noncompliance with SC listing rules. The company failed to submit audited annual report. CIMB was the underwriter at Rm 1.60 for its IPO and the company raised more than Rm 100 million. CIMB invited me to visit its factories in Xiamen, China. I have more than 100 million shares and I have engaged a legal firm called Chan & Associates to recover my loss. Unfortunately, this is another one of my bad investments.

His final confession is he owns more than 100M shares of Xinquan, its not 86.9M shares as stated in his post dated 08 Sep 2017.

All these high ego oldmen likes to lie.....

Posted by stockraider > 2021-06-27 11:13 |

Post removed.Why?

Posted by supersaiyan3 > 2021-06-27 11:35 | Report Abuse

stockraider, next KYY will become day trader. He is lost too deep in the forest.

CharlesT, I did some search and wow, Addnice seems to be gone, and Gertop seems to be operating.
https://gertop.world.tmall.com/shop/view_shop.htm?spm=a230r.1.14.89.213c381438bzZe&user_number_id=836733927

Posted by Sslee > 2021-06-27 13:29 | Report Abuse

https://klse.i3investor.com/blogs/Sslee_blog/2021-03-23-story-h1542931251-Justice_for_Xingquan_minority_shareholders.jsp

My last email to SC on Xingquan.