Amboi, ED dah kenyang, cabut pula, masuk 2021, keluar 2022 , macam hotel haha
Change in Boardroom FOCUS DYNAMICS GROUP BERHAD
Date of change 24 May 2022 Name MR LIM MING CHANG Age 40 Gender Male Nationality Malaysia Designation Executive Director Directorate Executive Type of change Resignation Reason Other work commitment Details of any disagreement that he/she has with the Board of Directors No Whether there are any matters that need to be brought to the attention of shareholders No
Takda wang untuk membayar gaji pekerja jabatan kewangan, bukan? Mereka dah cabut ? Ataupun terlalu banyak taik dalam akaun menakutkan mereka pula? Hahaha..
Focus menuju status pn17 macam serba dinamik kot? Mujurlah semua pemegang syer hahaha
0116 FOCUS FOCUS DYNAMICS GROUP BERHAD Current Stock Name : FOCUS Current Financial Year End : 31/12/2021 New Financial Year End : 30/06/2022 Remark : The Directors of Focus has approved the change of financial year end from 31 Dec 2021 to 30 June 2022 ("Change"). The COVID-19 pandemic is causing unexpected disruption in the workplace and due to shortage of manpower which has affected the timeline for preparation and audit of the financial statements of the Company and its subsidiaries. The first set of accounts after the Change shall be for a period of 18 months from 1 Jan 2021 to 30 June 2022. You are advised to read the entire contents of the announcement or attachment. To read the entire contents of the announcement or attachment, please access the Bursa website at http://www.bursamalaysia.com
Pengarah2 dipenjarakan jika ada accounting fraud macam enron, worldcom, dll :)
TAY BEN SENG, BENSON Executive Director Mr Tay holds a bachelor of Commerce Degree with a double major in Marketing and Management. He was appointed Executive Director of the Company on 8 February 2017. He is fueled with passionate inclination towards conceiving and innovating lifestyle concepts in the Food and Beverage (“F&B”) arena. He has extensive experiences of more than a decade ranging from events management to F&B operations and conceptualizing new start-ups.
He currently sits as the Director of Marquee International Sdn Bhd (“MISB”) which is the F&B division of the group and also holds directorship positions in several other private companies. Prior to joining MISB, he was involved mainly with various F&B start-ups as well as the automotive industry and events management.
He does not have any family relationship with any Directors and/ or major shareholders of Focus Dynamics Group Berhad (“FDGB”), or any conflict of interest with FDGB.
TAN AIK HEANG Independent Non-Executive Director Mr Tan is an Associate Member of the Chartered Institute of Management Accountant, United Kingdom. He was appointed an Independent Non-Executive Director of the Company on 29 September 2010.
He started his career as an auditor with Hun & Co. in 1991. In May 1993, he joined Trans-Global Agencies Sdn. Bhd., a trading company, as an Account Executive. He left in May 1995 and joined SJ Asset Management Sdn. Bhd., a fund management company as an Account Executive. On June 1997, he was promoted to Assistant Finance and Administration Manager and in June 1999 as Finance and Administration Manager. Subsequently in June 2006, he was promoted as Senior Finance and Administration Manager. After 15 years with the fund management industry, he left SJ Asset Management Sdn. Bhd. in June 2010. He is currently involved in the business of manpower supply and management.
He does not have any family relationship with any Directors and/ or major shareholders of Focus Dynamics Group Berhad (“FDGB”), or any conflict of interest with FDGB.
ABDUL MENON BIN ARSAD @ ABDUL MANAN BIN ARSHAD Independent Non-Executive Director Encik Abdul Menon holds a Bachelor Degree in Social Science (Hon.) from Universiti Sains Malaysia and Diploma in Management from Malaysian Institute of Management.
He was appointed an Independent Non-Executive Director of the Company on 27 December 2011. He has twenty (20) years of experience serving in the Malaysian Armed Forces and more than nine (9) years working experience in numerous fields, including facility administration and ancillaries, operation management, property and facility management. He retired in 2009 and ventured into his own business.
He is also a Senior Independent Non-Executive Director of Vsolar Group Berhad. He does not have any family relationship with any Directors and/ or major shareholders of Focus Dynamics Group Berhad (“FDGB”), or any conflict of interest with FDGB.
Is it the company waiting for consolidation of the share & lower the shares prices or not increasing. If not approve for consolidation is it the prices will drag on for another yr. Think if the company not still drag on prices not performing the share prices what will happen next? It might go to PN17 since the prices was 0.03 very low might be putting in non performing counter. The whole company performing will drag on & on. What will happen if not performing for almost two yrs?
Focus invested a lot in brahim and benson tay was one of directors of brahim before resigning. Coming QR ,focus is expected to impair its entire quoted investment in brahim haha
Brahim’s to be delisted on June 3 as Bursa rejects its appeal for more time to submit regularisation plan KUALA LUMPUR (May 31): Practice Note 17 (PN17) company Brahim’s Holdings Bhd will be delisted on June 3 — 28 years after the company was listed in 1994 — following Bursa Malaysia’s rejection of the group’s appeal for more time to submit its regularisation plan.
FOCUS DYNAMICS GROUP BERHAD (Registration No: 200201015261 (582924-P)) CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE FIFTH QUARTER ENDED 31 MARCH 2022 UNAUDITED AUDITED 15 MONTHS 12 MONTHS ENDED ENDED 31/03/2022 31/12/2020 RM RM CASH FLOWS FROM OPERATING ACTIVITIES Profit before tax (335,744) 21,983,814 Adjustments for: Depreciation of right-of-use assets ("RUA") 1,322,701 1,352,411 Bad debts written off - 955,700 Bargain purchase on investment in associate (20,165,952) - Depreciation of property, plant and equipment ("PPE") 5,645,760 4,823,624 Deposit received 193,408 - Deposits written-off - 14,000 Dividend income (39,412) (3,545) Fair value loss/(gain) on market securities 14,850,928 (5,337,547) Gain on disposal of PPE (163,406) - Gain on disposal of RUA (40,429) - Gain on lease liabilities written-off due to early termination - (3,363) Impairment on receivables: - trade receivables 65,727 162,315 - other receivables - 4,000 Impairment on investment in joint venture - 45 Interest expenses on lease liabilities 890,493 704,690 Interest expense 57,956 55,927 Interest income (2,421,364) (141,618) Property, plant and equipment written-off (net) 82,163 648,407 Reversal of Impairment on: - trade receivables - (1,432,053) - other receivables - (295,200) - amount due from related parties - (938,400) Share of loss on investment in joint venture 12,119,260 497,890 Unrealised foreign exchange loss - 43 Operating profit before working capital changes 12,062,089 23,051,140 (Increase)/Decrease in Inventories 289,946 4,201,545 (Increase)/Decrease in receivables (15,385,515) 1,039,723 (Decrease)/Increase in payables 7,911,159 9,865,913 (Increase)/Decrease in amount due from joint venture 14,562 65,606 Increase in amount due from related parties - (200,000) Increase in amount due to related parties 2,000,000 2,537,819 Cash generated from operations 6,892,241 40,561,746 Interest received - other than fixed deposits 2,372,030 96,511 Interest paid (57,956) (55,927) Income tax paid (10,034,152) (3,993,120) Income tax refunded - 17,530 Net cash generated from operating activities (827,837) 36,626,740 CASH FLOWS USED IN INVESTING ACTIVITIES Acquisition of a subsidiary, net of cash and cash equivalents acquired - 40,000 Addition to prepaid expenses (13,921,212) (4,421,257) Addition of RUA - - Dividend income 39,412 3,545 Purchase of PPE (13,243,309) (2,575,642) Proceeds from disposal of PPE 198,399 - Proceeds from disposal of RUA 100,000 - Increase in fixed deposits pledged (23,553) (26,467) Interest received - fixed deposits 49,334 45,107 Investment in associates (81,707,079) - Investment in quoted shares (9,816,362) (17,351,646) Net cash used in investing activities (118,284,370) (24,326,360) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from issuance of irredeemable convertible preference shares (“ICPS”) 108,856,522 - Proceeds from issuance of share capital 59,905,097 12,597,358 Interest paid on lease liabilities (683,750) (704,690) Repayments of lease liabilities (890,633) (390,430) Net cash generated from financing activities 58,330,714 120,358,760 Net (decrease)/increase in cash and cash equivalent (60,781,493) 132,659,140 Cash and cash equivalent at beginning of period 137,195,173 4,546,890 Effect of foreign currency translation 55,458 (10,857) Cash and cash equivalent at end of period 76,469,138 137,195,173 Cash and cash equivalent comprise: Cash and bank balances 74,129,470 132,238,857 Short-term investments 2,058,200 4,722,356 Fixed deposits with licensed banks 2,929,642 2,880,307 Bank overdraft (1,202,915) (1,224,641) 138,616,879 77,914,397 Less: Fixed deposits pledged to licensed bank (1,445,259) (1,421,706) 76,469,138 137,195,173 - - NOTES: 1. 2. CUMULATIVE QUARTERS The Unaudited Condensed Consolidated Statement of Cash Flows should be read in conjunction with the Annual Audited Financial Statements for the financial year ended 31 December 2020 and the accompanying explanatory notes to this Interim Financial Statements.
============= Company fund continue to be depleted Will directors raise more fund via shares issuance to PP, ESOS or RI ???
BLee: Hi Bro @whistlebower99, RM12B or RM12M? It make 1,000 times different. The correct version is in the PDF file attached to the announcement, as below:
REVENUE: RM15,528,020 COST OF SALES: RM(8,930,214) GROSS PROFIT: RM6,597,806 OTHER INCOME RM478,856 OTHER OPERATING EXPENSES: RM(18,701,193) PROFIT FROM OPERATIONS: RM(11,624,531) (LOSS)/PROFIT FOR THE PERIOD: RM(12,038,126) Cash and bank balances: RM74,129,470 TOTAL ASSETS: RM286,323,742 Total Liabilities: RM51,236,441
As shown in above data, cash in hand is more than total liabilities and total assets is more than 5 times of total liabilities. What is the chance of PP, ESOS or RI?
Last fundraising; issuing 2,044,266,042 ICPS and 3,066,399,051 Warrants D on the ACE Market of Bursa Securities on 3 December 2020. No PP, ESOS or RI since then despite all the speculation.. Happy trading and TradeAtYourOwnRisk
No matter how good some of u all wrote it really does not improve the share prices perform the share price first. No matter how u explain the share prices still stagnant or worst. Would u all think consolidation is the best? The company have to perform their sales not depend on consolidation
Lol a matter of 3 zeros, I can’t stop laughing at how this Fintec counter manipulate folks. They waited til lunch time to correct such a big mistake? Omg, really con job man. I’m still laughing as I type this lol
Audited accounts mlabs dah qualified oleh external auditor. Next focus???. Banyak related parties , belum diistiharkan????? :) Listing status focus mungkin digantung /suspense anytime?? Akaun koyak dan staf akaun cabut?? Haha
Hidden hand punya sykt akan delisted satu per satu jika tiada juruaudit luaran berani audit bagi mereka. Kini, AOB of SC akan audit external auditors bagi listed companies.
Jika sykt milik hidden hand tak sedar, mampuslah mereka dengan poor corporate governance , hanky panky dengan related party transactions tak mau disclose, akauntan cap ayam macam mlabs qualified audited accounts oleh external auditor nya dan banyak lagi
tell all your invested/related companies to comply with corporate governance and financial reporting and declare all related party transactions... otherwise, semua external auditor cabut satu per satu... takut diaudit oleh AOB of SC dan lesen audit digantung dan kena denda hahaha
Tiada external auditor & akauntan berani bekerja dengan focus jika tak mau comply financial reporting standards, related party transactions & corporate governance. Cheng & co dah jadi mangsa dah :)
KUALA LUMPUR (Aug 19): Messrs Chengco PLT (formerly known as Cheng & Co) and its partners have been barred by the Securities Commission Malaysia’s (SC) Audit Oversight Board (AOB) from accepting public interest entities (PIEs) or schedule funds as clients and from auditing their financial statements for 12 months.
This followed the dismissal of Hong, Liew and Yap's appeal against the AOB’s decisions to prohibit the firm, Hong and Liew on Aug 6.
In a statement today, the AOB said the firm and its partners concerned were found to have multiple instances of non-compliance with the international auditing standards, which were discovered in two inspections conducted by the AOB in 2016 and 2018 respectively.
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fullscreen play_arrow The AOB also noted that the firm had failed to remedy a recurring finding identified in the first inspection.
"As a result, the firm and the partners, Hong Thuan Boon and Liew Kwai Choy, were prohibited from accepting PIEs or schedule funds as clients and auditing their financial statements for 12 months," it added.
Hong and Liew were engagement partner and engagement quality control reviewer respectively, for the audit.
The firm was also fined RM175,000, while Hong was fined RM57,000.
Another of the firm’s partner, Yap Peng Boon, was also fined RM44,000 for non-compliance of audit procedures.
Chengco’s listed clients include Smile-Link Healthcare Global Bhd, Kawan Food Bhd, PNE PCB Bhd, YGL Convergence Bhd and M3 Technologies (Asia) Bhd.
Firma audit mungkin tak berani jadi auditor focus takut lesen audit digantung selepas diaudit oleh AOB, unit SC untuk mengaudit firma audit wakaka
KUALA LUMPUR: PJBumi Bhd has received a notice in writing from Messrs Afrizan Tarmili Khairul Azhar PLT on their resignation as external auditors of the company.
In a filing with Bursa Malaysia, the engineering and construction services provider said the auditors were re-appointed at the last annual general meeting (AGM) of the company held on Dec 17, 2021 to hold office until the conclusion of the next AGM of the company.
“The auditors had tendered their resignation because the Audit Oversight Board (AOB) had notified the auditors that they are prohibited to perform audit of public interest entities for 12 months commencing from Dec 10, 2021,” PJBumi said.
PJBumi is in the midst of identifying the new auditors to be appointed pursuant to Section 271(2)(b) of the Companies Act 2016.
The case for change Independence is the cornerstone of a well-functioning audit committee. The ability of its members to exercise their judgment in an informed and impartial manner is important to the fulfilment of the audit committee’s mandate, especially in overseeing the areas of financial reporting, related party transactions and conflicts of interests, internal control environment, internal audit and external audit process. It should be noted that the core functions of audit committees set out in many, if not all global authoritative governance documents are expressed in terms of “evaluation”, “assessment” or “review” of the aforementioned areas. The undertaking of such responsibilities would naturally necessitate audit committee members to critically and objectively apply a probing view on pertinent matters, particularly in areas which involve a high degree of judgment. In many instances, audit committee members are expected to take tough, constructive or even unpopular stances, all of which calls for independence in “thought and action”. As a former Senator of the United States, Howard Metzenbaum puts it, “audit committees that lack independence frequently have a fealty to the management that an audit committee shouldn’t have”1. To coin it differently, audit committees should not be having a "debt" to the management which is then "repaid" when a tough issue (e.g. financial reporting issue) arises. Recognising that objectivity is essential to the proper functioning of the audit committee, regulators have outlined provisions on the composition of the audit committee with due regard to the element of independence.
There is an effective and independent audit committee. The board is able to objectively review the audit committee’s findings and recommendations. The company’s financial statement is a reliable source of information.
Several research studies have shown that the value of having an audit committee comprising solely of independent directors can be particularly evident when a company is undergoing financial distress. For example, a prominent research performed by Bronson et.al highlighted that wholly independent audit committees are more likely to protect external auditor’s independence during a dispute with the management of a financially distressed company. The research highlighted that given the negative consequences associated with a going-concern report (an opinion by the auditors that the company may not be viable in the foreseeable future), management may try to pressure the external auditor into not issuing the said report when one is warranted. In such a scenario, having a fully independent audit committee would more likely lead to objective support for the external auditor and mitigate pressure from management relating to the going concern reporting decision. Conversely, audit committees with members who are affiliated to management were found to be more likely in replacing the external auditor in such a circumstance
accounts staff cabut.. accounts delayed... major issues facing facus now...
What are some of the key questions that the audit committee members should ask management in relation to the matters under its purview? Audit committee members must achieve an adequate understanding of the representations made by management and scrutinise these matters accordingly. If necessary, the audit committee should consult with external counsel and experts to gain further insights. Some of the key questions that should be posed to management include: • What is your assessment of the overall control environment? • What processes do you have in place to ensure material errors will not occur? • What materiality level did you employ in assessing whether the financial reports presented are of a true and fair view? • What are the most significant estimates and judgments you made in preparing the financial report? What was the range of values used in those estimates? Justify the appropriateness of the underlying assumptions and the reliability of information/ methodologies/tools used. • What are the nature and size of year-end adjustments and related party transactions?(note: example of matters to be tabled to the audit committee on related party transactions are outlined in Appendix III of this Pull-out) • Did any non-recurring transactions materially impact the financial results? If so, what were they and what was the impact? • What were the major financial reporting standards and regulatory changes instituted during the year and what was their impact? • What are the significant differences existing in the financials between the current and prior period? Why have these variances occurred? • Is the financial result significantly different from the budget? If so, why? • Which aspects of the company’s financial viability and sustainability do you feel least comfortable with? • Have there been any disagreements between management and the internal or external auditors? If so, what were they and how were they resolved?
Liew Chee Yoong of the Center for Market Education said poor performance would continue, from a combination of the ringgit’s depreciation, scandals in corporate governance, and weak legal enforcement in the capital markets.
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