Some sengaja cari pasal by saying it's weird , something not right . Today's price is 0.335 la and not 1.60 . The question is has the current price Already factored in all these weird and something not right.? If yes... Tomorrow green lor . Investor only wan some form of closure and certainties . Not 100% but ateast it's heading that way haha.
For a clearer picture, have to be read in tandem with previous QR report.
At a glance:
1) GP and NP Margin coming down to a more reasonable level. Previously, we have members here that argue that SD nature of business insulates them from margin fluctuations. It is never possible in real world.
More concerning to me are the following:
1) Cash flow is really really bad. Negative cash flow generated from business reported (200+) million. Last Q still have 9.7M. 2) EPS.. previous QR was 3.04 compared to latest 0.40. I dont have words for this 3) Long overdue receivables. Their note: 30-90 days is a given norm. I see over 120M receivable over 120days. 100% must make provisions or write-off adjustment if audited. If this is included, SD will have to report big loss this QR.
We can not use earning to value serba share anymore. The earning should be presume fake by now.
If we willing to accept the last quarter profit as real which is 0.4 sen per quarter. FY is about 1.6 sen eps This give value about 16 sen per share at PE 10.
We cannot use higher PE because this company is still under investigation for fraud accounting. EY report, after so long, still cannot be released. Why ? Another Red Flag.
So, we need to look at the balance sheet. We want to know, can serba stay above water ? For how long ?
Hehe. Expected qr not so good. So this qr already corrected the error from all the previous QRs, but still have profit for this quarter. Hence expected SIR will come out with favorable result. Hehe.
Purely on cash flow analysis, this company already underwater.
leno We can not use earning to value serba share anymore. The earning should be presume fake by now.
If we willing to accept the last quarter profit as real which is 0.4 sen per quarter. FY is about 1.6 sen eps This give value about 16 sen per share at PE 10.
We cannot use higher PE because this company is still under investigation for fraud accounting. EY report, after so long, still cannot be released. Why ? Another Red Flag.
So, we need to look at the balance sheet. We want to know, can serba stay above water ? For how long ? 29/09/2021 8:11 PM
I suspect that since SIR is ongoing, serba has somehow corrected this qr to reflect the errors, hence to ensure a favourable SIR. Again this is my guess, want confirmation just wait for the SIR lor..someone mentioned about compromised has been reached with regards to the SIR, so I guess this is the way it was reached.. Whatever it is SIR will tell the true story.
. Based on that conclusion, 2016 - 2019 also all fake based on the ratios as far as P&L is concern. I believe KPMG has alot to answer why SD accounts are FAKE, since they signed off.
And how many QR reports for listed companies are audited? Then to be applied fairly, all also fake since not audited.
You forgot 30/6/2021 was in the midst of suing KPMG, appointing new auditors, etc.
Anyhow, gist is GP margin reduction (-RM70m), increased finance costs (-RM100m) and loss of associated profits (-RM40m) are the key takeaway for 18th months adjusted to 2019.
Still BAU from my experience RUNNING a billion ringgit growing company.
@Leno, you are requested to file a report to SC immediately about your concerns. Thanks
KUALA LUMPUR: Serba Dinamik Holdings Bhd, penyedia perkhidmatan kejuruteraan bersepadu global, meraih pendapatan RM1.2 bilion pada suku yang ditinjau berakhir 30 Jun 2021.
Dalam satu kenyataan, syarikat itu berkata, kumpulan mencatatkan keuntungan sebelum cukai (PBT) sebanyak RM14.8 juta dan keuntungan selepas cukai (PAT) sebanyak RM13.8 juta untuk suku dikaji.
"Sama seperti suku sebelumnya, tidak ada perbandingan untuk suku yang sama tahun kewangan sebelumnya kerana Serba Dinamik mengubah tahun kewangannya menjadi 30 Jun 2021 dari 31 Disember 2020 pada 7 Mei 2021.
"Untuk suku dikaji, segmen operasi dan penyelenggaraan (O&M) adalah penyumbang terbesar kepada pendapatan berkenaan, dengan nilai RM1.1 bilion atau 90.6 peratus daripada jumlah pendapatan. Ini disebabkan oleh aktiviti MRO dan IRM yang kuat di Asia Barat iaitu UAE, Qatar dan Oman, diikuti oleh Malaysia.
"Segmen kejuruteraan, perolehan, pembinaan dan pentauliahan (EPCC) kumpulan adalah penyumbang kedua terbesar kepada pendapatan dengan RM100.4 juta atau 8.3 peratus daripada jumlah pendapatan," kata kenyataan itu.
Sementara itu, segmen teknologi maklumat dan komunikasi (ICT) memberikan sumbangan RM11.8 juta atau satu peratus kepada jumlah pendapatan bagi suku yang dikaji.
Segmen pendidikan dan latihan kumpulan memperoleh pendapatan sekitar RM900,000 atau 0.1 peratus menerusi Serba Dinamik Education Sdn Bhd, yang juga dikenali sebagai Universiti Malaysia Sains Komputer & Kejuruteraan (UNIMY).
UNIMY adalah platform pendidikan ICT yang memupuk graduan yang pakar dengan kemahiran ICT.
"Secara geografi, wilayah Asia Barat adalah penyumbang terbesar pendapatan, memberikan RM744.4 juta atau 61.6 peratus daripada jumlah pendapatan untuk Q6FY21. Rantau Asia Tenggara, RM409.3 juta atau 33.9 peratus daripada jumlah pendapatan. Wilayah Asia Tengah dan Selatan menyumbang RM44.6 juta atau 3.7 peratus daripada jumlah pendapatan.
"Baki sumbangan datang dari Tanzania dan Inggeris masing-masing pada RM4.8 juta atau 0.4 peratus dan RM4.63 juta atau 0.4 peratus," katanya.
Mengulas perkembangan itu, Pengarah Urusan Kumpulan dan Ketua Pengarah Eksekutif Kumpulan Serba Dinamik, Datuk Dr Mohd Abdul Karim Abdullah, berkata perniagaan kumpulan berjalan dengan baik dalam menghadapi situasi yang mencabar dalam tempoh berkenaan.
"Semua segmen perniagaan kami menunjukkan pertumbuhan yang membanggakan. Kumpulan gigih dan proaktif dalam mencari peluang baru di daerah bukan minyak dan gas.
"Kami akan mengembangkan perniagaan ruang dan perhubungan kami secara agresif ke hadapan. Ini sejajar dengan Rancangan Malaysia Ke-12 (RMK-12) yang diumumkan kerajaan," katanya.
Untuk keseluruhan tempoh lapan belas bulan, kumpulan mencatatkan jumlah pendapatan sebanyak RM8.6 bilion dengan PBT dan PAT masing-masing masing-masing berjumlah RM848.4 juta dan RM758.4 juta, katanya.
"Kami ingin meyakinkan pihak berkepentingan, menjalankan perniagaan seperti biasa dan mencari peluang perniagaan untuk meningkatkan keuntungan kumpulan.
"Tinjauan bebas khas berjalan dengan baik dan kami berharap penemuan ini dapat diungkapkan pada suku keempat tahun ini untuk menghilangkan semua keraguan. Kami tetap optimis terhadap prospek kumpulan walaupun keadaan semasa dari wabak COVID-19, " katanya.
@Huatexpert, what you worry is what i worry too. I am afraid someone will use this QR to dump the ticket into market. If so, meaning that SIR doesn't look good, i guess. Sure insider already know how SIR will be already by this time. correct boh ?
Dat Karim said result within expectation...SIR progressing well... he seems to have everything under control... holders will have to bear with short term pain....till SIR is out... tomorrow price likely down.... operator will likely take opportunity to press diwn hard.. but at least one chapter closed...13m profit better than loss.
I suspect that since SIR is ongoing, serba has somehow corrected this qr to reflect the errors, hence to ensure a favourable SIR. Again this is my guess, want confirmation just wait for the SIR lor..someone mentioned about compromised has been reached with regards to the SIR, so I guess this is the way it was reached.. Whatever it is SIR will tell the true story.
Think some people are expecting to see much worse result i.e. Millions of dollars loss, hence a bit disappointed to see this qr. EY is performing the review based on the 5-6 QRs back. If serba didn't come clean and correct those numbers in this QR, SIR will becomes ugly.
Huatexpert I think Serba need a massive right issue share to raise cash to pay bond and debt which over due soon... Hard to get loan fr banks at this moment...
What do you think the best price for right issue... RM 0.3 - 1 for 1 could raise RM 1 bil + to pay debt and borrowing.,, 29/09/2021 8:38 PM
The timeline is not in SD favor. Who will subscribe to rights issue share? They have practically locked themselves out from capital market by creating this big mess in the first place. No more institutional support.
Previous PP above 1.50... SD owes to the investor(s) to make sure they won't lose money...SD's treasury shares also 1.xx... they will make sure SIR clears
why i feel that few people come here to make sure that Serbadk price drop, hehe. sold their shares earlier already must be, hehe. Don't guess, if share price can easily be guess, i already resign and sit in front of computer to earn money liao
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
MQ Trader 420 views | 2 d ago
0:17
New IPO: An enterprise IT solutions provider that provides implementation services, maintenance, support and professional services, Vetece Holdings Bhd aims to list on the Ace Market!
MQ Trader 546 views | 6 d ago
0:17
New IPO: A manufacturing and trading of biomass fuel products, particularly PKS and wood pellets company, Elridge Energy Holdings Bhd aims to list on the Ace Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
InterFund
1,777 posts
Posted by InterFund > 2021-09-29 20:10 |
Post removed.Why?