Posted by nmsfqi > 2021-05-25 16:47 | Report Abuse

ASSonLiew now crying father mother at JAKS. Sure bloodbath. ESOS coming damn cheap. He’ll get trapped. Lolololol! Company weak fundamentally go invest. Let’s all take some time and laugh at ASSonLiew.

Haha!

Haha!

Haha!

Posted by hello92 > 2021-05-25 17:08 | Report Abuse

Hope qr don’t so fast out. Good qr sell? Bad qr also sell? ><

Posted by nmsfqi > 2021-05-25 17:10 | Report Abuse

Confirm good QR. This is a growth company. Will make higher after higher. Collect on weakness.

Posted by Ally Yee Min Ong > 2021-05-25 17:37 | Report Abuse

Close at highest. Looking good to break SMA20 by tomorrow.

Posted by Ally Yee Min Ong > 2021-05-25 17:40 | Report Abuse

In order to achieve market cap between 1.5 billions ~ 2.0 billions, price must reach above RM2.55 ~ RM3.40 by end of this year.

So far, SCIB's management never fail us. Those buy at low should hold tight your tickets.

Posted by kc5305 > 2021-05-25 18:16 | Report Abuse

No problem la. mco also can do work. When vaccine the worker dy, work back normal..Then price follow normal wait abit la hihi

Posted by nmsfqi > 2021-05-25 18:17 | Report Abuse

Datuk Karim acquired another 1.87m shares at RM1.35+ yesterday. Well supported.

Posted by skyinvestor90 > 2021-05-25 19:32 | Report Abuse

anson missing already...maybe anson already buy back at rm1.48 today... still not too late for anson to buy...

Posted by skyinvestor90 > 2021-05-25 19:34 | Report Abuse

like last time... pak karim will buy when anson scare...discount price... sure pak karim sapu...

Posted by johnmasino > 2021-05-25 22:28 | Report Abuse

if SCIB's next quarterly earning can hit RM50 million, EPS after share dilution of private placement assuming 637,700,000 shares should be at least (RM200 million /637700000) = RM0.3136/share

If given 15 X PER, intrinsic value of SCIB is RM4.70!!

Huge upside..

But I believe SCIB can be the next SERBADK whose potential earnings could hit RM100 million per quarter

Solid company with superb fundamentals!

Posted by abang_misai > 2021-05-25 22:56 | Report Abuse

best bet is on its scib-wb

Posted by OldWiseMan100 > 2021-05-26 00:01 | Report Abuse

@johnmasino

I own SCIB but RM50million is a bit crazy. Last qr profit was just RM14m. The other half is because of some lawsuit they won, thus it shows RM30m.

If this QR can get RM18m already consider very good.

Posted by johnmasino > 2021-05-26 01:31 | Report Abuse

OldWiseMan100:- Ur wrong! Looking at the last quarterly report, it says that the gross profit was RM22,197,000 and Other income was RM18,181,000. The gross profit was derived from contracts.

Posted by johnmasino > 2021-05-26 01:31 | Report Abuse

Where in the report does it say that the other 18 million was from a lawsuit? Can anyone confirm?

Posted by johnmasino > 2021-05-26 01:37 | Report Abuse

In any event, Im confident that Karim will turn SCIB into another SERBADK in a few short years. SERBADK quarterly profit skyrocketted from just RM44 million to over RM200 million is less than 5 years..using this as a guideline, it is very achievable for SCIB to hit more than 60 million profit per quarter

Posted by piranha88 > 2021-05-26 11:40 | Report Abuse

Scib better not turn into another Serbadk. See what's happening over in Serbadk. High profit but high receivables. And latest news for Serbadk is that external auditors to be appointed. Something's not quite right or needs clarification with their accounts. And hope Scib is not affected by this. Thursday might see a drop

Posted by Just88 > 2021-05-26 13:27 | Report Abuse

KLSE investors are very sentimental and easily affected by unpleasant news. News of Serbak having issues with external auditors will cause a panic.

Posted by pang72 > 2021-05-26 13:55 | Report Abuse

Avoid in all blowing company..
Result is blowing out

Posted by johnmasino > 2021-05-26 13:55 | Report Abuse

OK then, I believe Karim will turn SCIB into a 6 billion company like Gamuda in a few years..

Posted by johnmasino > 2021-05-26 14:01 | Report Abuse

Karim just bought over 1.8 million shares at RM1.3+ a few days ago as a sign of support that SCIB shares are greatly undervalued. He wouldn't buy shares if he knew something was amiss with SCIB.

Posted by investorbat > 2021-05-26 14:18 | Report Abuse

First, dont even think about $50mil pat,not even $25mil.Secondly,mother company Serba has audit issue with external auditor,serba has few projects from mother,not surprise to see gap down tomorrow

Posted by DreamHunter > 2021-05-26 14:19 | Report Abuse

ha ha ha

Posted by DreamHunter > 2021-05-26 14:19 | Report Abuse

yah kah

Posted by DreamHunter > 2021-05-26 14:19 | Report Abuse

sure boh

Posted by Ally Yee Min Ong > 2021-05-26 14:50 | Report Abuse

Good opportunity to buy more if gap down tomorrow morning. ^^

Posted by charlie chia > 2021-05-26 14:57 | Report Abuse

Result coming out soon and boss bought in at 1.35
Don't think will gap down
Shd move forward to break SMA 20 then fly to next level
They shd cross the PP price

Posted by abang_misai > 2021-05-26 14:59 | Report Abuse

If results not good, boss would only buy after results out

Posted by Ally Yee Min Ong > 2021-05-26 15:11 | Report Abuse

I don't think Karim's team need something fraudulent to support the share price. That's my conclusion.

Posted by Ally Yee Min Ong > 2021-05-26 15:18 | Report Abuse

Tomorrow there will be a bunch of panicker rushing to sell. Not a surprise if you see the price gap down when market open. Just grab as many as you can from them.

Posted by johnmasino > 2021-05-26 15:24 | Report Abuse

Ignore those fear mongering clowns who are trying to scare investors into selling their stock at a loss just so they can collect cheap. The fact is Karim himself bought over 1.8 million at RM1.3570 just 2 days ago which shows that SCIB is undervalued and there is nothing amiss with SCIB.

SCIB's next qty report will be another blowout one!

Posted by meiling0809 > 2021-05-26 17:32 | Report Abuse

please do not forget
Dato sold a lot of free warrants
so the shares Dato bought is free money from the public
but I am confident to the group

Posted by johnmasino > 2021-05-26 18:19 | Report Abuse

meiling0809:- that is irrelevant. The fact that he bought a lot of shares just 2 days ago shows that he is confident in SCIB, even if he bought those shares with free money. Let me ask you, if someone gave you RM2.5 million, would you buy something that you know is loss making? Of course no even if you got the money for free. But that's what Karim did. By buying at RM1.355 he is telling us that the stock is grossly undervalued relative to it's potential earnings upside..

Posted by johnmasino > 2021-05-26 18:36 | Report Abuse

Comment from InsiderShark
InsiderShark Insider Info I got.

KPMG unable to verify the accounts in Middle East due to covid travel restriction, this is regarding to block7 investment, thus requires a 3rd party there to do the auditing before they sign off. Unrelated to KPower or SCIB as both are 90% in Malaysia, fully audited. I have no idea if this is good news or bad. If verified to be ok, expect the stock to fly, 2 external auditors can't be wrong, this will give them a boost. If it is the other way around, then gg.

All the best.

Posted by Newbieinshare > 2021-05-26 18:40 | Report Abuse

KPower says it is run independently from Serba Dinamik as the latter's auditors flag statutory audit matters
TheEdge Wed, May 26, 2021 06:15pm - 23 minutes ago


KUALA LUMPUR (May 26): KPower Bhd says today that the group and Serba Dinamik Holdings Bhd are two distinct and separate entities that are run independently of each other, save for having the same major shareholder and director in Datuk Dr Mohd Karim Abdullah.

In a statement, KPower said Mohd Karim, as its non-independent and non-executive chairman, is also not involved in the day-to-day operations or management of the group. Mohd Karim is group managing director and chief executive officer at Serba Dinamik. Mohd Karim holds a 26.93% stake in Serba Dinamik as at March 19, and has 32.14% in KPower as at Jan 14.

"With the exception of sharing the same Company Secretary, KPower also engages a different set of professional advisors such as external auditors, transaction lawyers, and Public Relations & Investor Relations firms for the group’s business and other corporate matters," KPower said.

It said it was making the clarification after receiving various inquiries in relation to Serba Dinamik's announcement on Tuesday (May 25) that the latter was starting a special independent review, after its board was informed by its external auditors on some matters pertaining to statutory audit.

In its announcement filed to Bursa Malaysia, Serba Dinamik said it was in the midst of appointing an independent firm to start the special review to assess the veracity and accuracy of the matters, but did not divulge what they were. According to Serba Dinamik's Annual Report 2019, its auditor is KPMG PLT.

KPower, meanwhile, said it is headed by group managing director Mustakim Mat Nun, and is supported by a team of professional managers that do not hold any position in Serba Dinamik and vice versa.

"To date, KPower has had no recurrent related party transactions (RRPTs) with Serba Dinamik. Any and all RRPTs have only been between the Group and OHP Group Sdn Bhd, a private vehicle owned by the group’s managing director, and the group’s chief financial officer Amirul Afif Abd Aziz.

All projects sourced by KPower is without any involvement from Serba Dinamik," it added.

KPower shares closed 4 sen higher at RM1.69 on Tuesday (May 25), giving it a market capitalisation of RM764.44 million, while Serba Dinamik settled unchanged at RM1.61, valuing the group at RM6 billion.

Posted by Newbieinshare > 2021-05-26 18:40 | Report Abuse

will SCIB posting same thing like KPOWER??

Posted by kc5305 > 2021-05-26 18:56 | Report Abuse

Trow price up. Time to go back to where it should be 1.70 hihi

Posted by johnmasino > 2021-05-26 18:59 | Report Abuse

SCIB is just like KPOWER, a distinct and separate company from SERBADK. All contracts won from SERBADK will not be affected.

Posted by johnmasino > 2021-05-26 19:09 | Report Abuse

Remember, Karim bought over 1.8 million shares just 2 days ago at around RM1.357 which tells me that SCIB stock is grossly undervalued. Private placement indicative price is RM1.54+. So using this 2 info, SCIB will go higher..LOL
26/05/2021 7:07 PM

Posted by Bennychua007 > 2021-05-26 19:22 | Report Abuse

Aiya, 没什么好担心的。现在的马股是让我们猜不透的。亏钱公司股票起，赚钱的公司股票下。怀疑做假帐算什么

明天开低走高。现在人是很散忘的。后天又没有人记得做假帐了！又会问可以买进了嘛！。哈哈

Posted by brian3381 > 2021-05-26 20:24 | Report Abuse

At least kpower said sth. I think scib badly afected cos most project sub from serba

Posted by OldWiseMan100 > 2021-05-26 20:39 | Report Abuse

Question:

Lau Chee Leong, a shareholder of the Company, asked the following
questions:-

(a) Can Dato’ Karim stop selling the Company’s shares?
(b) Most of the Company’s projects were awarded by Serba Dinamik Holdings Berhad, when can the Company receive projects independently?

Response:

(a) Dato Karim thanked the shareholder for the question and took note of his suggestion. He further explained that sale of shares could create liquidity in the stock market.
(b) The Company has been independent in the tender process in which the projects were awarded by the consortium based on the Company’s proven strength and capability in both local and overseas market.

Posted by Bennychua007 > 2021-05-26 21:36 | Report Abuse

May I know how many percentage of share holding by Karim ?He is the chairman for this company or just independent director only ?

Posted by Just88 > 2021-05-26 21:53 | Report Abuse

Why last minute change financial year end to June on 24/5/2021 ?

Posted by OldWiseMan100 > 2021-05-26 22:04 | Report Abuse

Serba Dinamik Press Release 26-May-2021

https://docdro.id/BXpqyA0


SERBA DINAMIK HOLDINGS BERHAD EYEING TO COMPLETE STATUTORY AUDIT AND INDEPENDENT REVIEW

The Group is targeting to finalise its audited financial results by end September and annual report by October

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

KUALA LUMPUR, 26 MAY 2021 - Serba Dinamik Holdings Berhad (“Serba Dinamik Holdings” or the “Group”), a global integrated engineering services provider, today announced that the Group has responded to matters brought up by its external auditor, KPMG PLT (“KPMG”) pertaining to its annual statutory audit for the financial year ended 31 December 2020 (“FYE2020”).

Group Managing Director / Group Chief Executive Director of Serba Dinamik Holdings, Dato’ Dr.Ir. Ts. Mohd. Abdul Karim bin Abdullah (“Dato’ Karim”) expressed, “The Group’s management has taken prompt action to address the matters much earlier prior to the announcement made to Bursa Malaysia on 26 May 2021. As far as we are concerned, we have not changed our business structure materially since the initial public offering (“IPO”) in 2017 and have worked with KPMG, whose auditors are familiar with our operations, since 2013. As far as the management is aware, we have been conducting our business professionally”.

“We have also engaged potential international independent firms to assess the veracity and accuracy of the matters brought up by the external auditor after consulting with Bursa Securities as time is now of essence given that we need to prepare for the Group’s annual report for publication by 31 October 2021, resulted of change of our financial year end to 30 June. The audit for FYE2020 has had its share of challenges given the impact of the COVID-19 pandemic in the markets where the Group has a presence at more than 20 countries. This has certainly presented challenges to finalise the financial statement”.

“We are in the midst of finalising the terms of appointment of the independent firm and are expected to confirm the appointment as soon as possible. We will accord the to-be-appointed independent firm the time and space to verify the matters with accuracy and veracity. We will be updating promptly any material developments in a transparent manner”.

“We understand the concerns of our stakeholders and shareholders and ask for their understanding and patience on the matters raised. Please be assured that the Board and management remain committed in safeguarding your interests. In the meantime, day-to-day operations will continue and we appreciate the support of stakeholders and shareholders in resolving this matter”.

Posted by OldWiseMan100 > 2021-05-26 22:22 | Report Abuse

@Bennychua007

Karim holds 29%, Chairman of the Board, and non independent none executive chairman

@Just88

They said this is to better lias with all the other accounts overseas, which Serba is in 20 countries.

Posted by Ally Yee Min Ong > 2021-05-26 22:22 | Report Abuse

A good faith and responsible management never fail us. I have allocate some fund to buy at low just in case panic sell down happen when market open tomorrow morning.

Cheer all!

Posted by Bennychua007 > 2021-05-26 22:38 | Report Abuse

Thanks oldwiseman for yr info

Posted by LongTermInvestor8 > 2021-05-27 00:03 | Report Abuse

*Serba’s external auditor on statutory accounts 26 May 21 briefing:*

- Cannot mention specifically what issues triggered this, only mention – no RPT involved, - not backdated (only relates from 2020 financial onwards which will stretch to 18months due to FYE change), no worst case guidance

- Doesn’t involve other listed companies i.e. SCIB/ KPOWER

- FYE change from Dec to June is to comply with KPMG request (concurrently), b) KPMG requested an independent review is to ensure accuracy of findings for the additional procedures required for points raised by them, c) the whole audit process being reviewed, not on a particular project or subsi, but for all operations especially in view of COVID19 in certain geography and KPMG wants independent review especially for things not within their normal scope

- Mentioned that KPMG started highlighting points since Oct 20 and Serba had been engaging with KPMG on their issues, but KPMG’s request for independent audit was only made in Apr 21. Serba did not receive reports or claims of fraud. What has been highlighted by KPMG is already addressed, right now just require process of independent review to solidify Serba’s efforts with KPMG

- Mentioned COVID19 also caused delays in auditing process (due to so many countries and JV structures in Serba) and streamlining accounting issues raised by KPMG

- No indication from banks to stop banking facilities at this point

*We already have a non-consensus call of HOLD with TP of RM1.78* My view:

I studied Back in AR 2019, the independent audit report (done by KPMG) covered a few Key Audit Matters
a) Revenue recognitions from O&M and EPCC – they inspected and verified how revenues were earned and the receivables.
b) Material on site balance (inventory) in locations like ME and Malaysia – they reevaluated the inventory controls and counts / purchase
c) Trade receivables and contract assets – Tested accuracy and process of receivables including any impairment assumptions

Now linking to what they said that COVID-19 delayed the audit process, my guess is it makes sense if *COVID-19 would have complicated the actual counting of revenues and inventories especially overseas operations*.

However, in my view if this is the case, *it is not an issue major enough to force upon special audit. Not all auditors will want to ultimately damage their big client* with such negative sentiment. Some auditors may not force their precious client to do special audit and just accept, since the client mentioned they already responded to the issues and requests raised

But I was also made to understand that despite KPMG having audited them before, this time the request is more stringent because some of the auditors are new personnel, who probably have “different standards” and want to understand their operations more hence requiring an external auditor party. Bursa also forced them to make this special audit announcement when they informed Bursa of the FYE change. So, along with COVID, it is kind of a triple whammy scenario

Retailers were spreading few weeks ago that Block 7, the client of the RM8b EPCC job in ME, is now co-owned by Serba. *We understand this is not RPT but is part of its asset ownership strategy. And Block 7 is not one of the issues raised by the auditors*.

Overall, *there may be knee jerk reaction to Karim stocks but the speed of which the issues will be resolved (assuming they are not serious or fraudulent) should offer bargaining opportunities*, especially with KPOWER/ SCIB which have nothing to do with Serba’s special audit issue.

Posted by johnmasino > 2021-05-27 01:16 | Report Abuse

MiaoMiao7 @Windy1974

Karim sold his Serba warrant, not Serba mother share.
Even in here i3 got the info, he sold warrant, buy mother share. Click on the magnifier icon.

https://klse.i3investor.com/servlets/stk/annchdr/5279.jsp

He bought so much during march. From 18-Feb-2021 to 18-Mar-2021, karim bought 36,300,000 via Open Market. Let's say his average price is 1.60, thus RM58,080,000

and then 56,292,000 on 02 Feb via PP, forgot what was the PP price, RM1.50?

Karim spend about RM90,380,000 buying Serba's share.

Almost RM100 million, no CEO with insider knowledge knowing something bad is about to happen will spend RM100m to buy shares in the company. This is logic, right? I dont have evidence, maybe you are right, only time will tell. We'll know in a few quarters.

Now that most of the major projects are almost completed, such as Teluk Rumania, it will generate positive cash flow. But this doesn't mean investor will price it highly.

As for TG, Tan Sri Lim probably should not have said they will be the biggest company in Bursa, and he probably told many of his friends to invest and TG will hit RM30, which it almost did. It was ego that made him bought those shares.

Yes, analysts make visits to the company and the company will show them the best. EPF is not always right also. Time will tell.

But RM100 million by Karim is a vote of confidence.

Posted by stockraider > 2021-05-27 07:27 |

Post removed.Why?