Thanks. Appreciated the previous analyses and work done by you too. But I do not consider them up to the threshold of "auditing standards". But to each their own. You may be from another industry. I understand that.
Your work was very good, but all was dismissed by a few remittance advice (as far as customers/vendors were concerned).
If you have further details you wish to share or additional work done, feel free to share them. I would be more than glad to have a look and revert with ways to move it forward.
PSAi3alert So, your analysis and information is based on your 'EXPERIENCE dealing with SIR with Bursa/SC/Bukit Aman' on some other company. And that EXPERIENCE is unrelated to Serba.
Well, that's not insider information. It's your hallucinated information.
. As for Huangbk72, I symphatise with your situation with SD. However, to continuously say that
"EY will confirm KPMG's findings"
means that you want them to confirm issues as at 31/3/2021. It seems that you are stuck at that time.
In accounting, there is this thing called "post balance sheet events" where the time of consideration can be many months longer than 3 months. In the case of this SIR, today is 10/9/2021 and the report is not out. If you assume 31/3/2021 till now, it is more than 6 months.
A lot of things can happen in 6 months and not to forget, KPMG stopped work on 4/5/2021, 2 weeks after the draft accounts were given to them.
Eg.
"What will happen when customers/vendors give their confirmation of balances" in June 2021?
SIR Auditors know what to look for and what to ask for to satisfy the claims.
Hint : SIR has been going on for 2 months now, and it would be a completed very quickly if it were to merely focus on 31/3/2021. Clearly it is not, because they are focusing on post balance sheet events, hence the time taken.
So far, I have not seen you make any hint/suggestions as to how EY will prove KPMG right or wrong otherwise. That is very telling.
If you were the Mgt Team of SD, would you be sitting there all day focusing on 31/3/2021 or look forward for BAU?
This counter has a lot of weak holders. Price definitely will crash. And those who are talking negative they cant promise you that they are not collecting it
As ever High Risk / High reward! What is Worst case scenario …..what happens? What is the NAV? Make up your own mind…should not come to this ….but who knows…..I will be suprised if they win new business with all this hanging …anybody entering into contracts can’t be doing due diligence.
Think too much, company cant deliver report on time, delay and delay, than sue here sue there, only smart investor will buy
Jay_bossy This counter has a lot of weak holders. Price definitely will crash. And those who are talking negative they cant promise you that they are not collecting it 10/09/2021 9:43 AM
No point I repeat myself what is the job scope of SIR for SD. Its clearly defined in bursa/media announcement,
You are overlapping SIR work with Audit work. In EY case, all questions are laid out for them to confirm. They dont have to go beyond that. Comprende??
Why do I have to hint why EY will confirm KPMG findings. No need to hint, i know and its my personal opinion.
You are different., you claimed to have access to SIR report. That is a dangerous remark made maliciously.
pearlwhite . As for Huangbk72, I symphatise with your situation with SD. However, to continuously say that
"EY will confirm KPMG's findings"
means that you want them to confirm issues as at 31/3/2021. It seems that you are stuck at that time.
In accounting, there is this thing called "post balance sheet events" where the time of consideration can be many months longer than 3 months. In the case of this SIR, today is 10/9/2021 and the report is not out. If you assume 31/3/2021 till now, it is more than 6 months.
A lot of things can happen in 6 months and not to forget, KPMG stopped work on 4/5/2021, 2 weeks after the draft accounts were given to them.
Eg.
"What will happen when customers/vendors give their confirmation of balances" in June 2021?
SIR Auditors know what to look for and what to ask for to satisfy the claims.
Hint : SIR has been going on for 2 months now, and it would be a completed very quickly if it were to merely focus on 31/3/2021. Clearly it is not, because they are focusing on post balance sheet events, hence the time taken.
So far, I have not seen you make any hint/suggestions as to how EY will prove KPMG right or wrong otherwise. That is very telling.
If you were the Mgt Team of SD, would you be sitting there all day focusing on 31/3/2021 or look forward for BAU?
. Unfortunately, I do not agree and what you are saying if out of the norm of industry practice, strictly on SIR.
Thanks for the insights you have given, if you have any other revelations to share, please give a shout out here, and I will be glad to have a look.
Huangbk72 No point I repeat myself what is the job scope of SIR for SD. Its clearly defined in bursa/media announcement,
You are overlapping SIR work with Audit work. In EY case, all questions are laid out for them to confirm. They dont have to go beyond that. Comprende??
Why do I have to hint why EY will confirm KPMG findings. No need to hint, i know and its my personal opinion.
You are different., you claimed to have access to SIR report. That is a dangerous remark made maliciously.
Posted by pearlwhite > Sep 10, 2021 10:25 AM | Report Abuse
. Unfortunately, I do not agree and what you are saying if out of the norm of industry practice, strictly on SIR.
Thanks for the insights you have given, if you have any other revelations to share, please give a shout out here, and I will be glad to have a look.
Huangbk72 No point I repeat myself what is the job scope of SIR for SD. Its clearly defined in bursa/media announcement,
You are overlapping SIR work with Audit work. In EY case, all questions are laid out for them to confirm. They dont have to go beyond that. Comprende??
Why do I have to hint why EY will confirm KPMG findings. No need to hint, i know and its my personal opinion.
You are different., you claimed to have access to SIR report. That is a dangerous remark made maliciously.
@shybutter all these haters stuck on other counters and come here to release their stress..................... I laugh when all these haters come................... They also just another retailers with limited info on the company.........................
Posted by InterFund > Sep 10, 2021 11:38 AM | Report Abuse
@shybutter all these haters stuck on other counters and come here to release their stress..................... I laugh when all these haters come................... They also just another retailers with limited info on the company.........................
. IIRC, there was an article where it said that in one of the SD's disputed customers, was a Petronas subsidiary company which co-incidentally had KPMG as the auditor.
In that article, the author was dumbfounded that as SD's customer, i.e. that Petronas subsidiary with KPMG as auditor, cannot confirm the amounts of monies owed to SD.
Surely, internally, the KPMG auditor for SD can ask the KPMG auditor for that particular Petronas subsidiary to tally the numbers.
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Posted by muhfiq > 2021-09-10 09:13 | Report Abuse
Keep doing it
More profit coming
Happy today
Posted by tomtom > Sep 10, 2021 9:12 AM | Report Abuse
I swapped to KNM at 0.25 now already 0.27, 0.275.... super good .