3 people like this.

101 comment(s). Last comment by i3lurker 2022-02-03 22:58

feimah

907 posts

Posted by feimah > 2022-01-31 17:26 | Report Abuse

This is a good article.

Posted by thebananaleaf > 2022-01-31 22:29 | Report Abuse

28x pe, who is the management trying to kid?

i3lurker

13,606 posts

Posted by i3lurker > 2022-02-01 19:58 | Report Abuse

those staff and business partners bought ....right?


thebananaleaf 28x pe, who is the management trying to kid?
31/01/2022 10:29 PM

Sslee

5,301 posts

Posted by Sslee > 2022-02-02 10:44 | Report Abuse

Just to put the record straight: Even though I am naïve but my conscious is clear. How about Philip’s conscious on Serbadk?
Below my reflection on the road I took to seek the truth and I am now wondering whether I made a difference or is justice served? And what more can I do?

It had been an uphill and a difficult long walk ever since I made my decision to seek the truth and nothing but the truth when I walk out from my first ever Xingquan 8th AGM (7th Dec 2016) dumbfounded that the BOD were lying thro’ their teeth, cheating and scamming the minority shareholders with impunity and getting away with it.
Refer attachment on Xingquan 8th AGM official minutes on BOD laughable replied:
1. On the loss of RMB 415 million to supply 3.6 millions pairs of custom made shoes to the government agency: Only during full delivery of 3.6 million pairs, the group was informed verbally that the shoes were found to fall short of the specification of antibacterial and absorbent ability.
2. On the write off of doubtful debt of RMB157.5 million: It was prudent to make provision for doubtful debt on those who had delayed in payment for trade receivable for more than 90 days.
3. Is the cash in the bank real or fraud?: The cash in the bank was verified by the external auditors who had obtained confirmation and printed bank balances statements directly from the various banks, the low interest income because of low interest rate and minimum placement of funds in fixed deposit accounts.
Not helping is the uncaring and gullible external auditors and independent directors dance to the BOD’s tune.
I make my first official complain to Bursa (Bursa Ref: CC/215/16) and I am thankful to Mr. Eddie Yeo and Ms. Chong Siew Yeen of Corporate Surveillance & Governance Division granted me a meeting on 19 December 2016 where I seek Bursa advice on Requisition an EGM for forensic audit. Before that I already sent a petition letter to the then Ambassador of China His Excellency Dr. Huang and met China Economic and Commercial Counselor secretary Mr. Fang Tao who promised me to send a representative to the EGM as observer for the EGM and voting proceeding. I then approached a substantial shareholder (Holding more than 10% Xingquan share) Mr. Koon Yew Yin and met with his lawyer to finalize the EGM REQUISITION.
Unfortunately, before we can send in the EGM Requisition to the company secretary, suddenly the CFO, Independents directors and company secretary resign en masse and the Xingquan BOD becomes elusive and does not respond to Bursa’s inquiries.
I made my official complaint to SC and was invited to a joint SC and Bursa meeting at SC office on 8/8/2017. (Attachment: 8th August 2017 SC & Bursa join meeting recap) many more emails and meetings follow to follow up with SC and Bursa.
I remember I ended one of my emails to Bursa and SC with my boil over frustration on lack of information on action taken with harsh words: “Are we Malaysian surrendering our sovereign right to China? Are Red Chip companies allowed to cheat us with impunity? Is our government unable to stand up to China? If China can ask our government to send the Telephone-Cheat syndicate members (Taiwanese) back to mainland China for trial then why is it so difficult to ask China to extradite the Red Chip Companies CEO to stand trial in Malaysia? Is our government not protecting our rights anymore? Are we nothing but a nation of thieves? If so, my only hope is on GE14

My email to Mr. Koon Yew Yin and others
My journey to seek the truth on Xingquan had resulted in us crossing each other’s path and it had been a great honor and pleasant experience to meet and know you all. Our path may take us to different destinations but I will forever treasure the moment we have together. I have written the above email to SC and Bursa and am awaiting their reply.
It is an end to my journey on Xingquan albeit a very sad ending with imminent delisting of Xingquan.
I am writing this email to thank all of you and it is for Mr. Leong to give legal advice to Mr. Koon as to what action he would like to take after Xingquan is delisted from Bursa

Posted by Philip ( buy what you understand) > 2022-02-02 15:48 | Report Abuse

Why are you ask treating this like pasar malam? Please refrain from posting other non relevant information in this blog post. This is why I find it irritating, write one article and suddenly different conversation come in. Why cannot stick on topic?

As for serba, I have said and admitted my mistake. I have put my selling and amount and details on when I sold it exactly as well as my explanation on what has happen. You can look at my portfolio as to the exact time and date and my comments on that.

https://klse.i3investor.com/servlets/pfs/120720.jsp#tabs_group2

You are welcome to post whatever you want on it there or start your own blog on it.

Note that even though I do not need to explain my decisions and actions to anyone, I do however publicly post my portfolio and the transactions publicly and the without editing. Immediately after I buy or sell I report clearly, unlike many of the pump and dumpers in this group.

In any case you can post if I have any conscience, as I clearly treat my transactions and reports clearly. Instead of harping on small trades or small risky investments on my portfolio, why not comment on my biggest purchase instead in pchem and start from there on my investment philosophy?

In any case, please respect my blog which is on SENHENG, and stick to discussions on that. Trying to troll other blogs are beneath you. You are like someone having a discussion on palm oil matters in a seminar and someone suddenly comes and shouts about buying in Insas! Insas! Insas! And drowning others comments.

You are not a Calvin tan eng Yee. Please respect yourself if not others.

i3lurker

13,606 posts

Posted by i3lurker > 2022-02-02 16:36 |

Post removed.Why?

Sslee

5,301 posts

Posted by Sslee > 2022-02-02 17:19 | Report Abuse

Dear Philip,
No hard/bad feeling, i wrote above on Xingquan in reponse to what you wrote about me:
Quote,"Then again, as a previous major top 10 shareholder of xinquan,
Your goal is never to understand, but more to make everyone agree with your way of thinking. Too bad your results also don't match your claims. Unquote.

My goal is how can I make a difference from my mistakes and nothing about my results nor to make everyone agree with my way of thinking.

Posted by Philip ( buy what you understand) > 2022-02-02 19:19 | Report Abuse

You on the other hand, deserve neither respect of the time of day. The saddest thing is in 10,000 posts you have never had a single good word or an original opinion of what stocks to buy. You are worse than a scammer, someone who has an opinion about everything but has never gone ahead and done anything worthwhile in life. What stocks do you hold? What successes have you made in life? What challenges have you overcome? I think your online claim to fame is to tell everyone that you are the famous i3 troll, who tries to pick a fight with everyone because you show none of the qualities of a good investor.

So free to post 10,000 comments on i3, what have you done with your life up to now? Sadly only online bullying, no wife, no kids, no life, no friends.

Maybe you can actually read up on kh lim as the boys of senheng and how he has struggled through life and made something of himself.

He certainly has very little time to post 10,000 comments and waste time being a troll...

>>>>>>>>>>

i3lurker sslee

I am shocked !!!

I guess someone ran out of Suiyee Sucker Billis worth scamming inside Telegram
..........and now is coming back to toxic i3 to scrape toxic people off the bottom of the barrel, for scamming purposes of course !!!!!

Sslee

5,301 posts

Posted by Sslee > 2022-02-03 08:00 | Report Abuse

When we make judgements we're inevitably acting on limited knowledge, isn't it best to ask if we seek to understand, or simply let them be?
- Jay Woodman

Posted by i3lurker > Jan 31, 2022 12:01 PM | Report Abuse
otb also eyeing Inari and stated "will buy"
not too sure whether that is a good thingy or not.

Inari will be a good buy as Inari is now on new phase of expansion with the PP money of RM 1 billion.

As of Insas I am not sure what they are going to do with their cash hoard.

ks55

3,606 posts

Posted by ks55 > 2022-02-03 12:02 | Report Abuse

Seng Heng listing was a joke!
Remember Seng Hup? Where is it now?
To me, Seng Heng listing is the easiest way for owners to cash out.
Not to forget this type of business model is the easiest for creative accounting!
Next year profit will be less than this year, and year after next will be worse than next year. After 3 years, Seng Heng will start to produce negative profit. This is the typical way to exit for the original owners.......

CharlesT

14,602 posts

Posted by CharlesT > 2022-02-03 12:50 | Report Abuse

All Brahmal's play r mostly money game

Sslee

5,301 posts

Posted by Sslee > 2022-02-03 16:22 | Report Abuse

Winning is not everything, facts and truths matter.

uncensored

2,694 posts

Posted by uncensored > 2022-02-03 16:40 | Report Abuse

Sslee, to be fair how you term a IPO as scam ?

1. Are you saying that the financial statement are not a true & fair view ? Or contained fictitious figure ?

2. As an investor you should be responsible for what you invested. As Philp put it "( buy what you understand) "... so if you still buy what you can't understand then don't blame others for your failure.

One of the human great weakness is always trying to blame others on his own failure.



>>>>>>>>>>>>>>
Posted by Sslee > Feb 3, 2022 12:38 PM | Report Abuse

qqq3,
I think MrDIY IPO is a scam.
https://klse.i3investor.com/blogs/Sslee_blog/2021-02-26-story-h1541916...

Sslee

5,301 posts

Posted by Sslee > 2022-02-03 17:05 | Report Abuse

Posted by CharlesT > Feb 3, 2022 12:50 PM | Report Abuse
All Brahmal's play r mostly money game

Just a very simple Yes or No answer: Are you ready to pay RM 22 billion for MR DIY’ Malaysia and Brunei Business?

Tobby

7,397 posts

Posted by Tobby > 2022-02-03 17:08 | Report Abuse

DIY is way way way overpriced! And it's business model can easily be replicated! However as of now, it's the only one in Malaysia that monopolize the game! Unless another high volume business comes along, DIY continues to reign!

Sslee

5,301 posts

Posted by Sslee > 2022-02-03 17:08 | Report Abuse

And do you know
From MrDIY annual report:
100,001 to less than 5% of issued shares: 403 shareholders: 2,137,689,781: 34.06%
5% and above of issued shares: 3 shareholders: 4,104,603,100: 65.39%

So 406 shareholders controlled: 6,242,292,881: 99.45%
Balance 7726 shareholders: 34,307,119: 0.55%

Tobby

7,397 posts

Posted by Tobby > 2022-02-03 17:09 | Report Abuse

DIY is overvalued! But that's what it is!

uncensored

2,694 posts

Posted by uncensored > 2022-02-03 17:10 | Report Abuse

agreed

>>>>>>>>>>>>>>>
Posted by Tobby > Feb 3, 2022 5:08 PM | Report Abuse

DIY is way way way overpriced! And it's business model can easily be replicated! However as of now, it's the only one in Malaysia that monopolize the game! Unless another high volume business comes along, DIY continues to reign!

i3lurker

13,606 posts

Posted by i3lurker > 2022-02-03 17:11 |

Post removed.Why?

uncensored

2,694 posts

Posted by uncensored > 2022-02-03 17:17 | Report Abuse

i3lurker are you one of those Suiyee Sucker Bilis

Hahahahaha

uncensored

2,694 posts

Posted by uncensored > 2022-02-03 17:22 | Report Abuse

What is an IPO exit route?

An IPO benefits private investors looking to make money off their investment in a company. Investors who’ve invested in a company during the pre-IPO period can sell their shares for a profit, watch their share value grow or just cut their losses and quit an investment they deem unprofitable. Thus, an IPO gives private investors an ‘exit route’ to sell off stake in the company.

Key Points
- An IPO gives private investors an ‘exit route’ to sell off stake in the company.
- Lock in period is the time during which private investors can't sell their shares. It ranges from 3-24 months.
- Private investors hold what is called as private equity (PE) in companies. Often, these private entities feel a need to cash in on their investments due to pressure from their investors (people who hold equity in the private investment firm).
- After the lock in period, private investors usually sell shares they’ve decided to divest in batches, that is, in parts rather than in one go.
IPO definition and basic terms

i3lurker

13,606 posts

Posted by i3lurker > 2022-02-03 17:24 |

Post removed.Why?

uncensored

2,694 posts

Posted by uncensored > 2022-02-03 17:28 | Report Abuse

IPO is common exit stategy for private &/or angel investors. In this capitalism world naturally they are always aiming to maximise their capital gain. So as retail investors please do your home works & only buy what you understand.

The most disgusting things is to blame other for your failure.

Sslee

5,301 posts

Posted by Sslee > 2022-02-03 17:29 | Report Abuse

How can Bursa and SC allowed related parties transactions that amounted to conflicts of interest

A long list of related parties transactions and conflicts of interest were disclosed in the IPO prospectus.
A key one being, controlling shareholders hold controlling interest in entities for MR D.I.Y. branded retail operations elsewhere including Thailand, Singapore, Indonesia, Philippines, Cambodia, Laos, and more. They have also licensed the use of the brand to third party for retail operations in India.
These overseas operations are not consolidated into the current to-be-listed entity. The current to-be- listed entity only for MR DIY’ Malaysia and Brunei Business.

uncensored

2,694 posts

Posted by uncensored > 2022-02-03 17:31 | Report Abuse

I also despise a person (socialist) who believed all human should be rewarded equilly without refernce to the person's ability, efforts....

uncensored

2,694 posts

Posted by uncensored > 2022-02-03 17:34 | Report Abuse

All these have been disclosed & made known to the public. If SC is ok then I don't see what is the problem.






>>>>>>>>>>>>
Posted by Sslee > Feb 3, 2022 5:29 PM | Report Abuse

How can Bursa and SC allowed related parties transactions that amounted to conflicts of interest

A long list of related parties transactions and conflicts of interest were disclosed in the IPO prospectus.
A key one being, controlling shareholders hold controlling interest in entities for MR D.I.Y. branded retail operations elsewhere including Thailand, Singapore, Indonesia, Philippines, Cambodia, Laos, and more. They have also licensed the use of the brand to third party for retail operations in India.
These overseas operations are not consolidated into the current to-be-listed entity. The current to-be- listed entity only for MR DIY’ Malaysia and Brunei Business.

Sslee

5,301 posts

Posted by Sslee > 2022-02-03 17:42 | Report Abuse

IPO should be for business owner to tap into capital market to raise capital to expand their businese for the benefit of all the shareholders and not a pure capitalist tool to make a few rich private &/or angel investors manipulation to become richer.

i3lurker

13,606 posts

Posted by i3lurker > 2022-02-03 17:46 | Report Abuse

agree

thats why supervisors at those Gloves company should be allowed to carry leather whips, night sticks and Tasers to "encourage" slave labourers to work.

A Malaysian oem electronic firm just recently denied in Bursa announcement that a FW was beaten up for not working...

Cheers !!
Bottoms Up !!
I immediately bought that counter ...tutup mata just bought it !!!

:)


Posted by uncensored > Feb 3, 2022 5:31 PM | Report Abuse

I also despise a person (socialist) who believed all human should be rewarded equilly without refernce to the person's ability, efforts....

Sslee

5,301 posts

Posted by Sslee > 2022-02-03 17:59 | Report Abuse

I forget we are living in Boleh land. So everything can be arranged/kautim

uncensored

2,694 posts

Posted by uncensored > 2022-02-03 18:01 | Report Abuse

Sslee WAKE up...la.... this is world of Capitalism. U ate are paid higher than your plantations workers due to Capitalism. In socialism your pay & your worker pay supposed to be same.

Hahahaha





》》》》》¡¡

Posted by Sslee > Feb 3, 2022 5:42 PM | Report Abuse 

IPO should be for business owner to tap into capital market to raise capital to expand their businese for the benefit of all the shareholders and not a pure capitalist tool to make a few rich private &/or angel investors manipulation to become richer.

uncensored

2,694 posts

Posted by uncensored > 2022-02-03 18:05 | Report Abuse

Even your beloved CPC leader Deng had abandoned socialism & adopted Capitalism way in managing China economy

Sslee

5,301 posts

Posted by Sslee > 2022-02-03 18:05 | Report Abuse

Agree,
Cheers !!
Bottoms Up !!

Posted by uncensored > Feb 3, 2022 6:01 PM | Report Abuse
Sslee WAKE up...la.... this is world of Capitalism. U ate are paid higher than your plantations workers due to Capitalism. In socialism your pay & your worker pay supposed to be same.

Hahahaha

uncensored

2,694 posts

Posted by uncensored > 2022-02-03 18:10 | Report Abuse

i3lurker, hahaha

I don't care who ypu are. It is not my concern. Whether you are going to die or not also not my concern.

Definitely I don't care whether you are childless or gay, lesbian or what ever.

Haha Haha

LOL





》》》》》》》》》
Posted by i3lurker > Feb 3, 2022 5:24 PM | Report Abuse 

I never confirm nor deny anything
even whether I have wife or not, children or not, male or female

even whether I am dead or alive
[this is typed by a computer storing my brain connections in Mars orbit]


Posted by uncensored > Feb 3, 2022 5:17 PM | Report Abuse

i3lurker are you one of those Suiyee Sucker Bilis

Hahahahaha

i3lurker

13,606 posts

Posted by i3lurker > 2022-02-03 18:12 | Report Abuse

In any Capitalist country like US, Malaysia, Australia and Singapore, people will get free food and free lodgings without doing any work at all.

In true Socialist countries, people who do not work are whipped and denied human food but instead given animal food for survival ... that is if they survive those beatings lah....
:)

uncensored

2,694 posts

Posted by uncensored > 2022-02-03 18:17 | Report Abuse

First socialism is not supposed to be like that but due the difficulty in implementing the ideology of socialism its become a failure state of so called socialism country.

Even Venezuela realised its and trying to adopt back Capitalism again.
But political turmoil & corruption has obstructed the progress



》》》》》》》
Posted by i3lurker > Feb 3, 2022 6:12 PM | Report Abuse 

In any Capitalist country like US, Malaysia, Australia and Singapore, people will get free food and free lodgings without doing any work at all.

In true Socialist countries, people who do not work are whipped and denied human food but instead given animal food for survival ... that is if they survive those beatings lah....
:)

uncensored

2,694 posts

Posted by uncensored > 2022-02-03 18:24 | Report Abuse

qqq3333 hahahaha you better consult your remisier before invest.

i3lurker

13,606 posts

Posted by i3lurker > 2022-02-03 19:01 |

Post removed.Why?

i3lurker

13,606 posts

Posted by i3lurker > 2022-02-03 19:34 |

Post removed.Why?

Sslee

5,301 posts

Posted by Sslee > 2022-02-03 19:52 | Report Abuse

I3lurker,
I wonder may be it is our faults to be too idealistic.

Tobby

7,397 posts

Posted by Tobby > 2022-02-03 20:04 | Report Abuse

Posted by qqq3333 > Feb 3, 2022 7:20 PM | Report Abuse

https://www.eurasiareview.com/01022022-how-malaysias-robber-barons-ope...

people say Malaysia is robber barons politics....well, robber baron or not, it is what it is.

and it is not going to disappear

Answer : Yeah, this writer really sum up what Malaysia is all about! SsLee, you should read this! That's why i am very pessimistic about Malaysia!
Either side are just as corrupted! Anwar vs Mahathir but they are of the same! Both want the crony capitalist system to continue! Behold, now Najib Zahid is making a comeback! Worst taht crony capitalist system! They empowered civil service top hats to the bandwagon!

i3lurker

13,606 posts

Posted by i3lurker > 2022-02-03 20:08 |

Post removed.Why?

i3lurker

13,606 posts

Posted by i3lurker > 2022-02-03 20:10 |

Post removed.Why?

i3lurker

13,606 posts

Posted by i3lurker > 2022-02-03 20:21 |

Post removed.Why?

i3lurker

13,606 posts

Posted by i3lurker > 2022-02-03 20:54 |

Post removed.Why?

uncensored

2,694 posts

Posted by uncensored > 2022-02-03 21:10 | Report Abuse

qqq3333 crazy old lady... hahahaha
wants to turn this forum into CPC propanganda mounth piece ....

hahahaha

i3lurker

13,606 posts

Posted by i3lurker > 2022-02-03 22:37 | Report Abuse

dun quarrel too much.

its all temporary.
everyday I see many many many pregnant Rohinya women carry a few months old baby as well....=> 2 babies a year.
:)

also if you pop into a Klinik Malaysia just to check this theory, its all Rohinyas there

Malaysia will be lost soon enough....

no need to fight amongst ourselves

Tobby

7,397 posts

Posted by Tobby > 2022-02-03 22:41 | Report Abuse

Lurker! Yeah, those Rohinyas really know how to breed! Some say even outbreed rats! Anyway, with the birthrate of rohinyas and banglas, i think malays will become 2nd class citizens! No wonder Myammar kick those rohinyas!

i3lurker

13,606 posts

Posted by i3lurker > 2022-02-03 22:47 |

Post removed.Why?

i3lurker

13,606 posts

Posted by i3lurker > 2022-02-03 22:58 |

Post removed.Why?

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