Posted by FSX123 > 2021-10-22 11:52 | Report Abuse

Kpmg has resigned as auditors of SD.

This is not because they are scared or they admit they are guilty.(Pls dont misunderstand).

Auditors are generally required to be independent and objective during an audit, because they are responsible to issue an opinion on the truth and fairness of a company's financial statements(f/s).

They cannot be seen to be siding the directors due to fear or favour. Instead, they should be protecting shareholder's interests.

Board of directors are responsible over the preparation of f/s, and the f/s are then audited by the external auditors. The auditors will then issue their opinion to shareholders.

Notice there is a 3 party relationship here.

1)The auditors who audit the f/s, and

2)Directors who are responsible over the preparation of f/s and

3) The shareholders, who are the recipient of the f/s and the auditor's opinion.

Auditors work for the shareholders and not the board.

The board cannot exert their power or influence on the auditors. The legal case initiated by the board, however, shows otherwise.

So,

KPMG has no choice but to resign because they will no longer be able to audit the f/s objectively, there is now a perception that kpmg may compromise in the audit due to the fear over the outcome of the legal case.

(So, the safest thing to do, is resign, and this is the message to shareholders. Resignation is also strongly recommended by auditor's code of ethics)

The board's decision to take a legal action on KPMG represents an intimidation threat, where the board can be perceived as saying, you either accept what we say or face the consequences of the legal prosecution. (Although their true intention maybe something else)

The question now is:

Was there a need to take legal action on the auditor while the audit is not complete and call for a press conference to condemn the auditor, instead of explaining and solving the issues in hand?

Didnt the audit committee give a warning to the board about how a legal case will affect auditor's independence?

A legal case is a serious issue. Wasn't this discussed with all major shareholders? Did they call for an egm to discuss with shareholders, especially the majority or institutional shareholders, before proceeding?

To get more clarity,

We need to know who are the top 3 major shareholders of Serba Dinamik and whether they were consulted before the legal action was taken.

At the end of the day, KPMG will still need to face the legal case and protect their own reputation, and in the process, have to let the shareholders and authorities know their side of the story, with proper evidence.

This is not only about audit and accounting, its moving towards wider governance issues..

Lets see what happens next.

Posted by nicholas99 > 2021-10-22 11:52 | Report Abuse

if FSX123 no agenda? so free here talk every day ask people don't buy. what he gains from this?

Posted by FSX123 > 2021-10-22 11:53 | Report Abuse

In this forum, the only guy not spewing lies is Huangbk. He is the only guy here i suspect is not an operator and is genuine

Posted by nicholas99 > 2021-10-22 11:53 | Report Abuse

so FSX123 also spewing lies.

Posted by ǷearlꙌhite > 2021-10-22 11:54 | Report Abuse

.
You did not consider a very strong possibility.

He sold his WA to create panic sell to buy mother share cheap.

After SIR, it goes to Rm1.00. Why buy then when he buys now?

Of course, Bursa only talks to the INED. So, this is not insider trading.


Markable Mostly in this room are holding SD share, including me. I can feel what anger what you all had. Why boss disposed all warrant during this critical time. The reason can be few

1. Warrant exercise price is too high, unless SD revised it, if not RM0.1 and RM 0.05 warrant price make no different. Current point of view is WA nearly toilet paper, if for me, i will do the same thing cash out to help mother share (or keep it in my bank).

2. Follow by No.1, why wanted to push mother share IF SIR favour to SD. Something smell no good for me. Perhaps is ready bullet wait for SIR release and use that to stabil the mother share.

Anyhow, my 70% of my saving investment are in SD. Even I know today will have huge losses but i still keep SD with me. Hopefully next week there is GOOD news to help us all.

Is just my 2cent poor advise, take it or leave it. No against to anyone.

Posted by OpporturnityHunter > 2021-10-22 11:56 | Report Abuse

hehehehe, Encik Karem should thanks to his superb advisors for all this , hehehehehe.

Posted by newtrader1989 > 2021-10-22 12:00 | Report Abuse

Very crap logic indeed. Mean to say that mother price will shoot upto 1.0 and son will remain at 7cents. In Fact if the mother shoot up to 1.0, the son would
Also move and possibly he might have earned more by not selling the son

Just Cut the crap

ǷearlꙌhite .
You did not consider a very strong possibility.

He sold his WA to create panic sell to buy mother share cheap.

After SIR, it goes to Rm1.00. Why buy then when he buys now?

Posted by superrr > 2021-10-22 12:01 | Report Abuse

I think Karodon sold all his Wa is just to standby for his margin call next round.

Posted by nicholas99 > 2021-10-22 12:02 | Report Abuse

hahaha.. so slim. will margin call again? so low already

Posted by superrr > 2021-10-22 12:04 | Report Abuse

There are many karim promoters staff around here..

Posted by ǷearlꙌhite > 2021-10-22 12:05 | Report Abuse

.
If you cannot read nor t understand the focusmalaysia article and what he "very obviously" stated black and white as "necessity", then you should take responsibility for your poor decisions.

You do not decide what CEO Karim does but he can decide your investment results.

newtrader1989 Very crap logic indeed. Mean to say that mother price will shoot upto 1.0 and son will remain at 7cents. In Fact if the mother shoot up to 1.0, the son would
Also move and possibly he might have earned more by not selling the son

Just Cut the crap

Posted by OpporturnityHunter > 2021-10-22 12:07 | Report Abuse

aiyoyo. love can become hate, promoters can become destroyer too leh , hehehehe. ada tanda tanda oledi leh. If further drop , then you will see destroyers not promoters leh, hehehehehe

Posted by superrr > 2021-10-22 12:09 | Report Abuse

below 0.35 should have another round margin call like before..

nicholas99 hahaha.. so slim. will margin call again? so low already

Posted by OpporturnityHunter > 2021-10-22 12:09 | Report Abuse

aiyoyo , not good loh like that, you mean he purposely drop the price from around 2.00 to 0.35, is it >??? if yes, he really decide our investment result loh, cry cry cry wuwuwuw,
---------------------------------------------------------------------------------------------------------------

If you cannot read nor t understand the focusmalaysia article and what he "very obviously" stated black and white as "necessity", then you should take responsibility for your poor decisions.

You do not decide what CEO Karim does but he can decide your investment results.

newtrader1989 Very crap logic indeed. Mean to say that mother price will shoot upto 1.0 and son will remain at 7cents. In Fact if the mother shoot up to 1.0, the son would
Also move and possibly he might have earned more by not selling the son

Posted by Mabel > 2021-10-22 12:10 | Report Abuse

Abdul Karim who had in the past also trimmed his shareholding in the company’s mother his shares due to forced-selling has justified his decision to unload his entire holding of 55.9 million of the group’s warrants this week as “purely a business decision out of necessity” while reiterating his commitment “to turnaround Serba Dinamik from the doldrums”.

“My warrant disposal is to take advantage of it being traded at premium and shouldn’t be conceived as I harbor intention to exit the ship which I took so much sweat, tears and blood to build … I will make sure the ship continues to sail in the roughest of seas,” he told FocusM.

“Rest assured that I shall channel proceeds from the sale of the warrants to acquire the mother shares…Despite the turbulence, it’s still very much BAU (business as usual) at Serba as our current order book stands at RM18 bil.”

Posted by amet2017 > 2021-10-22 12:10 | Report Abuse

So who is selling now.. Jeng Jeng. Hehe

Posted by mystery > 2021-10-22 12:11 | Report Abuse

lowest only 0.335 so fast rebound, meaning buying force is still strong

Posted by Mabel > 2021-10-22 12:12 | Report Abuse

#Mabel Abdul Karim who had in the past also trimmed his shareholding in the company’s mother his shares due to forced-selling has justified his decision to unload his entire holding of 55.9 million of the group’s warrants this week as “purely a business decision out of necessity” while reiterating his commitment “to turnaround Serba Dinamik from the doldrums”.

“My warrant disposal is to take advantage of it being traded at premium and shouldn’t be conceived as I harbor intention to exit the ship which I took so much sweat, tears and blood to build … I will make sure the ship continues to sail in the roughest of seas,” he told FocusM.

“Rest assured that I shall channel proceeds from the sale of the warrants to acquire the mother shares…Despite the turbulence, it’s still very much BAU (business as usual) at Serba as our current order book stands at RM18 bil.”
22/10/2021 12:10 PM

Sell warrant buy mother is not a bad idea for Karim..

Mabel 2019 Bonus Issues Free Warrant still remains untouched...just like a virgiin. Expiry date still long way to go. Just keep in the wardrobe until Dec 2024. By that time Serba should be back at it's glory days where it was trading RM 4+++ and were heading towards RM 5 before the 2019 Bonus Issues exercises....

Karim lost is Mabel's future gain

Meow

Posted by OpporturnityHunter > 2021-10-22 12:12 | Report Abuse

@ pearl white, I think hehehehe, is KPMG decide SD results and now move to EY. Now EY yang decide our result leh, not him leh, cry cry cry, betulkeh , pearl white
22/10/2021 12:11 PM

Posted by maggiemee > 2021-10-22 12:13 | Report Abuse

who follow stockPIGtutU followers of that two so called guru one is claimed himself as doctor but disappear quite long time already serve you all right plantinum members. Wakakakaka

Posted by superrr > 2021-10-22 12:14 | Report Abuse

koroom has not choice but to keep playing magically..

Posted by ǷearlꙌhite > 2021-10-22 12:15 | Report Abuse

.
Don't ask for confirmation here when you can't even think for your own nor read what is posted by certain individuals on important issues that you seek.

Dont be a beta male, simp, needy person, orbiter. Nobody likes that.

OpporturnityHunter OpporturnityHunter I think hehehehe, is KPMG decide SD results and now move to EY. Now EY yang decide our result leh, not him leh, cry cry cry, betulkeh , pearl white

Posted by OpporturnityHunter > 2021-10-22 12:17 | Report Abuse

aiyoto, when you do 1 same thing it must depends on timing. dulu tak ada kes kpmg, ppl not that sensitive to his selling, now it is a crucial and sensitive time, ppl pasang mata see what you do the next leh. he sell few lot can influence the whole picture leh. faham keh

---------------------------------------------------------------------------------------------------------------
Mabel Abdul Karim who had in the past also trimmed his shareholding in the company’s mother his shares due to forced-selling has justified his decision to unload his entire holding of 55.9 million of the group’s warrants this week as “purely a business decision out of necessity” while reiterating his commitment “to turnaround Serba Dinamik from the doldrums”.

“My warrant disposal is to take advantage of it being traded at premium and shouldn’t be conceived as I harbor intention to exit the ship which I took so much sweat, tears and blood to build … I will make sure the ship continues to sail in the roughest of seas,” he told FocusM.

“Rest assured that I shall channel proceeds from the sale of the warrants to acquire the mother shares…Despite the turbulence, it’s still very much BAU (business as usual) at Serba as our current order book stands at RM18 bil.”
22/10/2021 12:10 PM

Posted by Mabel > 2021-10-22 12:18 | Report Abuse

Sector Trend (Long Term) STRONG
Sector Trend (Short Term) NEUTRAL
Institutional Holdings STRONG
Stochastic STRONG
MACD STRONG (Above 0)

Posted by ǷearlꙌhite > 2021-10-22 12:19 | Report Abuse

.
Here is proof why he still tak faham. Can't even read between the lines and think about the intention of the article.

OpporturnityHunter aiyoto, when you do 1 same thing it must depends on timing. dulu tak ada kes kpmg, ppl not that sensitive to his selling, now it is a crucial and sensitive time, ppl pasang mata see what you do the next leh. he sell few lot can influence the whole picture leh. faham keh

Posted by superrr > 2021-10-22 12:20 | Report Abuse

The day still young, let see this afternoon only will know strong selling or buying



mystery lowest only 0.335 so fast rebound, meaning buying force is still strong

Posted by OpporturnityHunter > 2021-10-22 12:22 | Report Abuse

aiyoyo, i only faham when SD price raise after selling of SD-WA leh, ok ok lah, you want to find excuses to console yourself leh. I salah loh, I tak faham loh, you faham OK liao. hehehehe, you feel better now ?? I am very good person leh, hehehe

Posted by newbie8080 > 2021-10-22 12:28 | Report Abuse

SIR not yet release but shareholder making moves already.

As founder, he should standby and believe his company.

Posted by OpporturnityHunter > 2021-10-22 12:30 | Report Abuse

he believes his company lah. Nothing to do with SD-Wa as these two are 2 different entity lah, hehehehehe. See, he didnt sell SD shares leh.

Posted by ǷearlꙌhite > 2021-10-22 12:32 | Report Abuse

.
Of course what. Sell WA and buy mother share at 34-35 sen. What is wrong with that?

After SIR, its RM1.00.

Do you want to buy at 34 sen or RM1.00?

newbie8080 SIR not yet release but shareholder making moves already.

As founder, he should standby and believe his company.

Posted by OpporturnityHunter > 2021-10-22 12:32 | Report Abuse

@newbie8080, dont worry lah, SD and SD-Wa is 2 different entity leh, you see, when SD raise, SD-Wa drop, when SD drop, SD-Wa raise, they are totally 2 different entities leh, hehehehe.

Posted by superrr > 2021-10-22 12:35 | Report Abuse

Haha.. How do u read the chart :
Broken MA 20 days
MACD cross death line
RSI down
STOCK RSI down
ETC...When it broken MA 20 will be on the dangerous situation



Mabel Sector Trend (Long Term) STRONG
Sector Trend (Short Term) NEUTRAL
Institutional Holdings STRONG
Stochastic STRONG
MACD STRONG (Above 0)

Posted by superrr > 2021-10-22 12:39 | Report Abuse

4 days ago already shown strong sell sign

Posted by InterFund® > 2021-10-22 12:41 |

Post removed.Why?

Posted by TryMakeGoodBuy > 2021-10-22 12:48 | Report Abuse

If the SIR is negative, then there will be massive right off in debtors and inventories.
It will be the next AirAsia and not talking about whether share will be 50sen or 1 sen.
My guess is that the debtors are from related parties transactions.

Posted by superrr > 2021-10-22 12:48 | Report Abuse

THat is mean owner got no confident with his business or something strange will happen.

Posted by TryMakeGoodBuy > 2021-10-22 12:50 | Report Abuse

SIR is due soon.
If you know you done nothing wrong the SIR will prove it.
Then share will fly thru the roof.
The warrant will also go up.
Why sell if you are confident

Posted by nicholas99 > 2021-10-22 12:52 | Report Abuse

maybe SIR bad. thats why he faster sell. hahaha

Posted by OpporturnityHunter > 2021-10-22 12:52 | Report Abuse

aiyoyo, takut takut, Karem sold all his warrant, market oledi react like this. If SIR not good, he will be in big big big trouble , not only SD, but also, Kpower and SCIB drop drop like waterfall , cry cry cry.

Posted by TryMakeGoodBuy > 2021-10-22 12:54 | Report Abuse

SIR no good.
Not Karim in trouble, SD will koyak

Posted by gloveisgreat > 2021-10-22 12:58 | Report Abuse

Round 3

ǷearlꙌhite (1) : Naysayers (0)

Because the statement from ǷearlꙌhite is more make sense.

Posted by newtrader1989 > 2021-10-22 13:00 | Report Abuse

Hahaha lmao ǷearlꙌhite please be prepared with next round of coverup and crap explanations because I am 200% confident that after bad SIR released you will still be defending serba all out hahaha lolzzz

Posted by superrr > 2021-10-22 13:03 | Report Abuse

Why is it so nervous sold all his WA, does it going to sell mother as well later ? will be too late when we see the announcement..

Posted by superrr > 2021-10-22 13:07 | Report Abuse

Og course , Because a lot of new registration ID to perform....hahaha

Posted by superrr > 2021-10-22 13:10 | Report Abuse

Koradomm is smart a lot of promoters employed.. hehe

Posted by Hop333 > 2021-10-22 13:12 | Report Abuse

Karim buyback on mothershare earlier, but sold all warrant? Hmm.....................

Posted by superrr > 2021-10-22 13:14 | Report Abuse

bought back mother a little and sold huge amount of WA.....haha

Posted by FSX123 > 2021-10-22 13:27 | Report Abuse

Newtrader1989(2) vs Pearlwhite(0)

Posted by superrr > 2021-10-22 13:27 | Report Abuse

I don't think so, Don't tell me he wants to cause the margin call to press down the mother ? something strange..

Posted by Hop333 > 2021-10-22 13:28 | Report Abuse

Sell warrant is normal right? to generate some cash

If he or other main shareholders sells off mothershare, i will run