Posted by WinWin995 > 2022-03-03 16:16 | Report Abuse

Yes, VS is good company.. i just top up warrant & mother share.

Posted by wan > 2022-03-03 16:21 | Report Abuse

Today market profit taking technology counter

Posted by nicholas99 > 2022-03-03 16:26 | Report Abuse

hotstuff missing already. haha. that scammer.

Posted by Alipapapa > 2022-03-03 16:28 | Report Abuse

Everyone is afraid Andy Hall even the fund house. They may sell first since learn from last time big losses in ATAIMS.

Posted by Newbie_123 > 2022-03-03 16:33 | Report Abuse

Sorry to hear this. Next counter he'll target CPO .... brace for impact

Posted by Hotstuff > 2022-03-03 16:34 | Report Abuse

if you argue with a fool you'll become a fool

Posted by TalkC > 2022-03-03 16:36 | Report Abuse

.....

Posted by Newbie_123 > 2022-03-03 16:41 | Report Abuse

NatsukoMishima

@Posted by NatsukoMishima > 6 days ago | Report Abuse

Swicth to dnex with oil, wafer plant, IT,.. .better than this!
_________
Just adviced u all last 2 weeks switched to dnex safe haven , now believe already ??
Totally same pattern like ataims , dead cat bounce for trap more naive bilis , after big holders run then water falling to 30 sens eventually ! Pending for Dyson announcement is too late for u all to run !!

--------------------------------------------------------------------------------

Didn"t u see the major dump @ DNEX today? Take care of you own home affair better :P

Posted by newbie2y > 2022-03-03 16:59 | Report Abuse

thanks for the updates kimpau!

Posted by kimpau > 2022-03-03 17:01 | Report Abuse

Greetings from RHB Research,

Key summary from VS Industry's (VSI MK , BUY, TP:MYR1.85) briefing following a media report on the termination of the company's engagement with a labour activist on labour related matters:

Essentially, management clarified that the termination was not an acrimonious one. It stemmed from disagreement or different opinions on various aspects of the social compliance audit VS is conducting including the choice of auditor and the scope.

The appointed independent auditor, PwC has started the auditing process in accordance to the 11 ILO indicators since the start of the month and it is expected to be completed in 3-4 months' time.

Management explained that PwC is chosen by VSI' Board of Director due to the strong reputation internationally and hence believe the findings by the audit firm will be widely recognized.

Management further clarified that the decision to widen the scope to cover all labour including local and foreign from the past and in the present is to ensure comprehensive and conclusive findings can be produced from the audit.

The company has been updating its major customers on the progress of the engagement and did not receive any objection on PwC as the independent auditor.

Management does not expect the termination of engagement to affect its business fundamentals and the chances to secure new contracts.

Posted by kimpau > 2022-03-03 17:16 | Report Abuse

https://www.facebook.com/237163483647983/posts/937538893610435/?sfnsn=mo

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

Has Andy Hall anything to do with VS Industry?s share price tanking?
By Cheah Chor Sooi
2 hours ago
in Markets, Top

NOBODY knows for sure if the tanking of VS Industry Bhd?s share price this morning (March 3) has anything to do with migrant worker rights specialist Andy Hall withdrawing his voluntary engagement with Johor-based electronics manufacturing services (EMS) outfit after a fruitless thee-month collaboration.

The labour activist attributed his withdrawal to VS Industry?s failure to honour its previous commitments made publicly to Bursa Malaysia and ?particularly by having unilaterally selected an auditor to conduct an independent third-party social compliance audit (concerning its irregular workers situation) without consultation with me?.

Share price of the company started to nosedive from its yesterday?s (March 2) closing price of RM1.10 around 10.45am before hitting an intra-day low of 92.5 sen which was also its 52-week low over the next half an hour.

However, VS Industry was able to pare losses by climbing back to close down 10 sen or 9.09% at RM1 at the close of today?s mid-day trading by being the second most actively traded stock with 74.1 million shares traded, thus valuing the company at RM3.83 bil.

?Limited information on the audit methodology has been shared. VS has stated the full audit findings will not be shared with me,? Hall pointed out in a WhatsApp statement.

?In addition, VS stated that the audit will take three to four months and an unnamed independent labour rights expert and lawyer will supplement the audit methodology by PwC Consulting Associates (M) Sdn Bhd.?

Elsewhere, fellow EMS peer SKP Resources Bhd, too, was somehow rocked by the fate of VS Industry. SKP had in December last year joined VS Industry to engage Hall on ways to improve the welfare of their foreign workforce.

The counter shed 4 sen or 2.90% at the close of mid-day trading to RM1.34 (after touching an intra-day low of RM1.32) with 5.52 million shares traded which gave the company a market capitalisation of RM2.09 bil.

Meanwhile, ATA IMS Bhd closed the mid-day trading unchanged at 39 sen with 5.05 million shares traded, thus valuing the company at RM470 mil.

In its recent assessment of ATA IMS, CGS-CIMB Research has reiterated its ?reduce? stance with an unchanged target price of 29 sen ?as we continue to forecast losses for ATA going into FY3/2023-FY3/2024F.

?We will turn more bullish on earnings prospects once we see (i) the entry of new customer; and (ii) clearer signs of its cost-cutting measures bearing fruit going into FY3/2023F,? opined analyst Nagulan Ravi in a results review.

For its 9M FY3/2022 period, ATA IMS? net profit has shrunk almost 86% to RM17.74 mil (9M FY3/2021: RM123.36 mil) while its revenue has dwindled 33% t;o RM2.17 bil (9M FY3/2021: RM3.25 bil).

For the record, UK electrical appliance giant Dyson which currently contributes 80% of ATA IMS? revenue will cease to be the latter?s main customer on June 1 following a termination notice on Nov 24 last year. ? March 3, 2022

Posted by Calvin882 > 2022-03-03 17:24 | Report Abuse

Good lesson to VS. Never work with a wolf in sheep's clothing.

Posted by LuckyHuatHuat > 2022-03-03 17:24 | Report Abuse

The vacuum companies should go to US and build their production plants there. Human rights allow guns and that will mke everyone hapy.

Posted by gemfinder > 2022-03-03 18:27 |

Post removed.Why?

Posted by newbie2y > 2022-03-03 18:27 | Report Abuse

Calvin882, hehe, i like that! "Wolf in Sheep's Clothes'' !

Posted by blackchicken > 2022-03-03 18:48 | Report Abuse

https://m.malaysiastock.biz/Company-Announcement.aspx?id=1387667

Posted by blackchicken > 2022-03-03 20:40 | Report Abuse

https://www.nst.com.my/business/2022/03/776653/vs-industry-undertakes-review-migrant-worker-labour-practices

Posted by citadel888 > 2022-03-03 20:41 | Report Abuse

mana bottom??

Posted by Sneakpeek > 2022-03-03 20:49 | Report Abuse

Tomorrow expect another -15%

Posted by EatCoconutCanWin > 2022-03-03 20:58 | Report Abuse

Tomorrow stop trading, waiting for announcement. Possible limit down

Posted by DatoKyle > 2022-03-03 20:59 | Report Abuse

pn17 i heard, sure or not??? hence, VS tp revised to 50 cents ???

Posted by mkmk > 2022-03-03 21:30 | Report Abuse

Hahaha, expect the unexpected?

Posted by amiruddinaaziz7 > 2022-03-03 21:37 | Report Abuse

what happen guys

Posted by LogicTradingAnalysis > 2022-03-03 22:35 | Report Abuse

tomorrow gap up and fly

Posted by win4896 > 2022-03-03 22:42 | Report Abuse

the boss and family bought around 8 millions shares today...if they not confident with VS , why they bought it? please think about it

Posted by mkmk > 2022-03-04 06:52 | Report Abuse

They will continue buying today?.

Posted by blackchicken > 2022-03-04 06:55 | Report Abuse

VS worked with Andy Hall for three months. Now they must be confident that Dyson will not cut a tie with them.

Posted by mkmk > 2022-03-04 06:56 | Report Abuse

Company can do share buy back too?

Posted by joyvest > 2022-03-04 07:51 | Report Abuse

Shorties will be in action fast and furious later.

Another 15% drop is expected

Posted by joyvest > 2022-03-04 07:55 | Report Abuse

The family members bought back to stop the diarrhea and nothing to do with the confidence.

Posted by maf1964 > 2022-03-04 07:58 | Report Abuse

zz

Posted by maf1964 > 2022-03-04 07:59 | Report Abuse

onder if andy hall remember about bruno manser in sarawak?

Posted by maf1964 > 2022-03-04 08:00 | Report Abuse

this andy hall got itchy backside. he shud be sent to ukraine.

Posted by mkmk > 2022-03-04 08:03 | Report Abuse

Y buy if not confident?

Posted by freddiehero > 2022-03-04 08:32 |

Post removed.Why?

Posted by NatsukoMishima > 2022-03-04 08:52 | Report Abuse

50 sens coming !

Posted by LossAversion > 2022-03-04 09:08 | Report Abuse

@NatsukoMishima, no need to warn.If 50 sen, grab lah!

Posted by WinWin995 > 2022-03-04 09:24 | Report Abuse

NatsukoMishima, today won't 50 sens.. u don't dream! :)

Posted by Hotstuff > 2022-03-04 09:53 | Report Abuse

some dixkheads said there will be another 15% drop.

Posted by icecool > 2022-03-04 10:01 | Report Abuse

rebound play

Posted by EatCoconutCanWin > 2022-03-04 12:16 | Report Abuse

Buy more at rm1

Posted by nicholas99 > 2022-03-04 12:21 | Report Abuse

See. Spend more money. haha. .
V.S. Industry is constructing new hostels, which cost approximately RM30 million and will be ready by June 2022.

Posted by nicholas99 > 2022-03-04 12:27 | Report Abuse

By the way, this nepalese englishman Andy Hall keep poking at Malaysia matter for what? India have far worse human right issues..

May be he wants to get involves and see the audit process through so he gets clarity.. not just some report from own appointed audit firm assessment from VC. Or he just wants some money through that smaller audit firm? who knows.

Posted by newbie2y > 2022-03-04 12:44 | Report Abuse

nicholas99, well, nobody knows what's he is upto underneath - why he wants VS to appoint "his preferred" audit firm, if we google PWC consulting firm, it is not a small roadside company at all, the audit scope and work involved would not be smaller or less-thorough than ''his preferred'' audit firm at any time in my opinion, so If his intention is solely just to help the foreign workers for greater benefits and goods, i believe PWC will deliver a fair audit at the end of the day as well, whether it is PWC or ABC audit firm that should not matter so much..and not to mention the fees of hiring is paid by VS, so naturally VS wants to appoint the company they deem suitable and reputable. Just my opinion based on the updates/news I saw above..

Posted by Maxireturn > 2022-03-04 21:44 | Report Abuse

Above 1.00 next week

Posted by blackchicken > 2022-03-04 22:12 | Report Abuse

He may want to get back some of the cash paid to the
appointed auditor. Who knows.

Posted by maf1964 > 2022-03-05 12:33 | Report Abuse

malaysians are a nice lot.
if andy hall was in indonesia, thailand or india, they would not negotiate with him. they would
use other metods to deal with him.
gow looka at uSA and UK human rights. in UK the have paki bashing, a favorite past time. IN us the blacks are constanly harressed. go fight for the pakis and the black and not pick on a soft target like malaysia

Posted by maf1964 > 2022-03-05 12:38 | Report Abuse

we shud spit at andy halls face when we see him. he is basically an international economic saboteur.
he has contributed nothing.'
becos f him malaysia has lost billions and ataims may lose a huge chunck of business.
people will lose jobs. what has tenagaanita to say to this. i believe that they are good friends of andy hall.

plse be wise to see wolves in sheep clothing. dont sabotage your own country. otherwise one day your daughters may end up working as maids in philipines and indonesia.

Posted by maf1964 > 2022-03-05 12:40 | Report Abuse

if they workin in sangapore or HKG ada class sikit. but they may end up in indon and philipines.
the english speaking go to philipines and the BM speaking go to Indonesia