Posted by Honesty > 2021-10-29 22:06 | Report Abuse

At least, we know he had made a choice !! And we respect and believe it is the right thing to do ~~

Posted by Honesty > 2021-10-29 22:08 | Report Abuse

I know you are trying to create panic here BUT you got to know that the share will not resume until the positive SIR is released!! By then, whatever fake negative news you paint here will be wasted~~
So just save it !! LOL

Posted by bobvic96 > 2021-10-29 22:21 | Report Abuse

Honesty I know you are trying to create panic here BUT you got to know that the share will not resume until the positive SIR is released!! By then, whatever fake negative news you paint here will be wasted~~
So just save it !! LOL

You are the one trying to create panic to buy.

We sceptics are trying to moderate the hype down to a more realistic view.

As others have surmised, you are stuck in the penthouse and mortgaged off your house, car, wife and kids into Serba and you are panicking unable to look your family in the face and state you have screwed up both yours and their futures completely.

It is extremely unlikely a POSITIVE SIR will ever be released, the SIR will be negative.

Posted by Mabel > 2021-10-29 22:30 | Report Abuse

Nice to see all Serba future Millionaires are making their statements..

To Our Success !

Meow

Posted by Honesty > 2021-10-29 22:30 | Report Abuse

People just dont waste their time here talking fake negative news and pessimism comment UNLESS they are interested in joining the gang with a cheaper price !!

Your strategy is really a bad one now with the suspension!! Do you think the share will re-open out of a sudden without the SIR result??
Please la dont be naive and waste your time talking to an empty room!!

Between, with all the time Serba have now without worrying a dip in share price, dont you think they will iron out a positive SIR??
Please la again grow up !! We all know what is the outcome of this privilege timing ~~

Posted by Honesty > 2021-10-29 22:34 | Report Abuse

I guess Bursa know that EPF have 4ish % stake on Serba and is lending a helping hand to prevent our retirement fund from burning to the ground!!

So to all Serba management team, Make this privilege time count and iron out a positive SIR for the holders and EPF !!

Trust the ceo had prepare fund for a support line !! Now, it up to the audit committee to do their part !!

Posted by investorbat > 2021-10-29 22:37 | Report Abuse

how u know EPF still have 4ish%

Posted by Honesty > 2021-10-29 22:39 | Report Abuse

how u know EPF dont have 4ish %

Posted by investorbat > 2021-10-29 22:43 | Report Abuse

Even at 5% total shares only186mil shares,at 0.35 total value only $65mil ,is already burnt to ground la.If rebound 2 times LU to $1,total only $186mil, do u think this is very huge amount to EPF?

Posted by Honesty > 2021-10-29 22:49 | Report Abuse

wakaka !! This is really school boy ~~
Please la… do you know what is EPF avg price on Serna or not ??
Just because the price suspended at 35sen and you think their avg price is 35 sen ??
Wow !! This is a first for me ~~ Really classical this school boy !!

Posted by Honesty > 2021-10-29 22:50 | Report Abuse

The quality of a hassler nowaday had drop so low now that it is hard to believe they can ever con anyone~~
LOL

Posted by Mabel > 2021-10-29 22:51 | Report Abuse

Top Shareholders

Top 25 shareholders own 94.9% of the company

Ownership Name Shares Current Value Change % Portfolio %
46.66%
Mohd Abdul Bin Abdullah 1,573,752,740 MYR550.8m 96.46% no data
17.96%
Abdul Bin Sahib 605,831,290 MYR212.0m 0.49% no data
5.49%
Employees Provident Fund of Malaysia 185,084,600 MYR64.8m -50.84% 0.04%
5.01%
Kumpulan Wang Persaraan 168,850,970 MYR59.1m -13.51% 0.1%
4.8%
Permodalan Nasional Berhad 161,745,980 MYR56.6m 0% 0.03%
3.74%
State Financial Secretary 126,000,000 MYR44.1m 0% no data
1.99%
Credit Suisse, Investment Banking and Securities Investments 67,200,000 MYR23.5m 0% 0.01%
1.54%
Lembaga Tabung Haji, Endowment Arm 51,945,500 MYR18.2m 0% 0.17%
1.08%
Public Mutual Berhad 36,450,290 MYR12.8m 0% 0.07%
1.06%
BlackRock, Inc. 35,791,560 MYR12.5m 9.93% no data
0.92%
Principal Global Investors, LLC 31,040,400 MYR10.9m 0% no data
0.8%
AIA Investment Management Private Limited 26,960,190 MYR9.4m 0% 0.04%
0.64%
Perbadanan Nasional Berhad, Asset Management Arm 21,735,000 MYR7.6m 0% 20.83%
0.62%
Bintulu Development Authority 21,000,000 MYR7.4m 0% no data
0.61%
The Vanguard Group, Inc. 20,566,796 MYR7.2m 0% no data
0.52%
Great Eastern Life Assurance (Malaysia) Berhad, Insurance Investments 17,486,700 MYR6.1m 0% 0.05%
0.45%
Dimensional Fund Advisors L.P. 15,200,840 MYR5.3m 0.05% no data
0.29%
Awang Bin Awang Putera 9,904,000 MYR3.5m -61.06% no data
0.21%
BNY Mellon Asset Management 7,099,280 MYR2.5m 3.02% no data
0.18%
Eastspring Investments (Singapore) Limited 6,051,930 MYR2.1m 0% no data
0.074%
Norges Bank Investment Management 2,492,635 MYR872.4k 0% no data
0.068%
Rozilawati Binti Haji Basir 2,310,000 MYR808.5k 0% no data
0.067%
Generation Investment Management LLP 2,252,620 MYR788.4k 0% no data
0.066%
UOB-OSK Asset Management Sdn. Bhd. 2,226,330 MYR779.2k 0% 0.1%
0.055%
Teachers Insurance and Annuity Association of America - College Retirement Equities Fund 1,843,251 MYR645.1k 72.56%

Posted by Mabel > 2021-10-29 22:53 | Report Abuse

Ownership Breakdown

State or Government 4.4% 147,000,000 shares
General Public 4.8% 162,240,114 shares
Institutions 25.8% 871,390,934 shares
Individual Insiders 65.0%, 2,192,163,030 shares

Posted by Honesty > 2021-10-29 22:58 | Report Abuse

Had anyone ever experience when you about to sleep then there is meow’ng sound outside of your bedroom window ?? Really ignoring, right?? I mean literally… LOL

Posted by Honesty > 2021-10-29 22:59 | Report Abuse

I dont mean anyone here … wakaka !! Sleep like a baby again~~

Posted by Mabel > 2021-10-29 23:00 | Report Abuse

To be honest, what we discuss here does not make any difference..

All of us only hold 4.8% of Serba. The silence majority are the main holders and we have all the BIG NAMES in the Investment World like Black Rock and Vanguard Group, PNB, EPF, Credit Suisse, AIA, Public Mutual etc etc.

They have many smart people behind them and they know what they are doing...

To Sir With Loves...

https://www.youtube.com/watch?v=JOVQ4vAmM7Y

Serba ask : What! What can I give you in return?

Mabel reply : Not much really SIR...

Mabel is actually looking forward for another repeat like Mabel Battleship ICON Offshore in early 2020..Double Limit up...

In that Limit Up, one Investors was rewarded with a brand new Mercedes SLK. Please scroll up ICON Offshore Forum if you want to know more.

Always Remember, Malaysia always Bolih One...

To Our Success !!!

Meow Meow Meow

Posted by Mabel > 2021-10-29 23:02 | Report Abuse

Have a nice weekend everyone...

Time for Bed...

As usual, Mabel will sleep like a Baby....

Meow

Posted by wongchin > 2021-10-29 23:04 | Report Abuse

Honesty can u tell me what is the average holding price of epf. U seem very knowledgereble. Or hv u seen b4 big snake piss??

Posted by Nikmon > 2021-10-29 23:05 | Report Abuse

After rampage sue Auditor, ex-director, next maybe Bursar...haha

It is amazing now Karim supporter or smart investor suggest that SD buy time to manipulate the SIR to make it looks more positive.

Seem like even smart investor agree that the SIR does not favor SD.

Posted by Nikmon > 2021-10-29 23:09 | Report Abuse

Anyway SD still under suspend, and those stupxd investor stuck sleepless every night.....use brain when invest don't support this kind of company, scold other lousy auditor, fight against Bursar....really amaze still got investor support them....useless.

Posted by alenac > 2021-10-29 23:19 | Report Abuse

Just show the end is near for Serbak under existing management. High time they change Chef. The kitchen stinks to high heaven.

Posted by Nikmon > Oct 29, 2021 11:09 PM | Report Abuse

Anyway SD still under suspend, and those stupxd investor stuck sleepless every night.....use brain when invest don't support this kind of company, scold other lousy auditor, fight against Bursar....really amaze still got investor support them....useless.

Posted by myinvesting > 2021-10-29 23:59 | Report Abuse

https://www.theedgemarkets.com/article/barakah-offshores-auditor-issues-qualified-opinion-fy21-financial-accounts

By the time the new auditor confirmed and onboard in Aug 2021, the year-end 30 Jun 2021 already went past. Do you think the auditors can verify the existence of materials on site back then without physical inspection/stockcount and dare to say no issue, we "checked" the materials on site/inventories?

Or qualified audit report is likely the case? Qualified report means PN17. Interesting to see how powerful is the new auditors.

Posted by FSX123 > 2021-10-30 02:01 |

Post removed.Why?

Posted by FSX123 > 2021-10-30 03:46 | Report Abuse

Why Serba will not recover

1. SIR/Court case

- KPMG is a big 4 company. They deal with hundreds of huge company. Serba is just one of their hundreds of big money clients. There is literally no reason for them to make a false call on their valuable clients. The only factor which might make them do so is because the problem in question is just downright/obviously wrong. Obviously they weighted the pro and cons of calling it out vs not calling it out. Therefore they decide to call it out and risk lawsuit. This is not a matter satu orang je decide. They already bincang kaw2 dalam mesyuarat...

2. Tiada kemasukan besar institutional buyers. Malah public bank jual besar-besaran/cut loss besar-besaran.

- Bukan saja tiada institutional buyer baru, malah institutional buyer sedia ada cabut lari.

3. Agent2 pump and dump mula beroperasi di forum.

- Kenapa baru sekarang nak sembang beli? Kenapa bulan lepas masa harga 0.31-0.35 tidak aktif suruh orang beli??

- Dibandingkan dengan Airasia, forumers memang sentiasa mengalakkan beli walaupun harga jatuh teruk.

- Serba tidak, hanya suruh beli bila harga naik meroket tanpa sebab.

4. Black list institutional buyers

- Lets face it, kaunter ni telah menyebabkan kerugian besar pada institutional buyers. You think mereka ni rugi kemudian tak pandai insaf2. They have strict SOP in place. Fund manager untuk EPF saja sudah lebih 30+ orang. Tiada orang akan risiko kan pekerjaan sendiri untuk buat recommendation untuk fund mereka beli Serba

5. Cannot get future contract/Recover order book

- Nowadays its standard operating procedure to prioritize companies with good governance. Serba have proven it self to have very bad governance. This is known throughout the corporate world. If you are in mid tier management of any decent company, you would know this.

Posted by FSX123 > 2021-10-30 03:46 | 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 FSX123 > 2021-10-30 03:46 | Report Abuse

Everyone invested in SD is losing money.

Everyone on sidelines is saving money.

All the old promoters gone in hiding or reborn using dupe account.

No doubt EY will confirm KPMG findings.

Dont be in the same room when shit hits the fan.

leno at 70 sen say hold until appoint new chairman
at 60 sen say hold until appoint EY
at 50 sen say hold until appoint new auditor
at 40 sen say hold until quarter report out
at 30 sen say hold until EY result out
at 20 sen say hold until bursa take action
at 10 sen say hold until suspended
delisted at 1 sen.

Posted by dompeilee > 2021-10-30 06:30 | Report Abuse

pang72 I Trap in Serba.... Suspended liao.... Hihi...
29/10/2021 8:11 AM

Poor pang72....so devastated by his -100% gamble on Serbak that he has been missing from i3 for many hours now lol

Posted by dompeilee > 2021-10-30 06:33 | Report Abuse

Poor unit trust owners who paid 5.5% of their hard-earned capital in just commissions for so-called professional fund(read fun) managers to play with their $$ only to lose it all in an accounting scam called Serbak bak bak

Let's light a candle for them

Posted by Huangbk72 > 2021-10-30 06:55 | Report Abuse

https://themalaysianreserve.com/2021/10/29/serba-dinamik-says-it-will-continue-to-execute-agreed-contracts/

This statement below taken from above article is misleading.

"The group also assured stakeholders that the Board is currently communicating with Bursa Malaysia Securities Berhad, Ernst & Young Consulting Sdn Bhd and other relevant authorities to resolve the issue."

Point:

1) There is NEVER a need to communicate with Bursa or EY. The SIR findings are final. Only for SD to decide whether to release or not

2) Delay weeks, months or years, SIR report stays the same. It will not change. SIR IS NOT AUDITING REPORT and UNCHANGEABLE!!

3) SIR is a report to either agree or disagree with KPMG findings. IT WILL NEVER CHANGE.

4) Communication only happens between SD and their auditor during normal Auditing process. Auditor find something weird, SD will communicate and resolve it.

To resolve this impasse, release the SIR report since it cannot be changed.

The more SIR is delayed, the more problem it will create for the 3 brothers. Cash flow immediately affected. Banks will NEVER tolerate this behavior.

Posted by Huangbk72 > 2021-10-30 06:57 | Report Abuse

Depeche Logically speaking. It's unthinkable that Karim will fold his billion ringgit empire.... cos he won't be able to get the biz community and banks to trust him ever.... so he should be focusing on getting the SiR and AR right and don't get into the same mess ever again.
29/10/2021 8:16 PM

That is right..

But desperate people dont follow logic. Ask Bernie Madoff or Elizabeth Holmes. Study their trial.

Now its pure self-preservation time for Chef Karim.

You jump, I dont jump scenario.

Posted by Huangbk72 > 2021-10-30 07:04 | Report Abuse

You dont understand us..

Its a battle Good vs Evil

You are standing in Evil Corner.

Its up to us to destroy you to save mankind.. Karma will reward us and punish people like you.

Back to a more serious note:

100% of anti-SD forum member has NONONONONONONO intention to buy SD or SCIB or KP shares for long term investment. Swing trade yes.

1) The management is crap
2) Accounts not trustworthy
3) No respect for established rules and institutions.

And SIR report already set in stone cos Bursa as a copy.... it cannot change, positive or negative


Honesty People just dont waste their time here talking fake negative news and pessimism comment UNLESS they are interested in joining the gang with a cheaper price !!

Your strategy is really a bad one now with the suspension!! Do you think the share will re-open out of a sudden without the SIR result??
Please la dont be naive and waste your time talking to an empty room!!

Between, with all the time Serba have now without worrying a dip in share price, dont you think they will iron out a positive SIR??
Please la again grow up !! We all know what is the outcome of this privilege timing ~~
29/10/2021 10:30 PM

Posted by Mabel > 2021-10-30 07:05 |

Post removed.Why?

Posted by Mabel > 2021-10-30 07:05 | Report Abuse

Good morning everyone..

Mabel sleep like a baby...

Meow

Posted by Huangbk72 > 2021-10-30 07:08 | Report Abuse

SD owners at last day of trading... All stuck except EPF and PNB... good job to those 2..

https://www.msn.com/en-my/money/stockdetails/ownership/kls-serbadk/fi-alai5r?ownershipType=institutional


Institutional Ownership

15.67%

Top 10 Institutions

14.53%

Mutual Fund Ownership

6.96%

Float

48.53%

That is a big float of 48.53% ready to run if SIR is bad.. see who is fastest.....



Institution Name Shares Held
(% Change)
% Outstanding
Kumpulan Wang Persaraan (Diperbadankan) 168,851,006(-0.71%) 4.53
State Financial Secretary, Sarawak 126,000,000(0.00%) 3.38
Lembaga Tabung Haji 51,945,500(+1.39%) 1.39
The Vanguard Group, Inc. 38,659,276(+0.49%) 1.04
Public Mutual Berhad 36,450,290(+0.66%) 0.98
Principal Asset Management Berhad 31,040,400(-0.16%) 0.83
BlackRock Institutional Trust Company, N.A. 30,072,210(+0.08%) 0.81
AIA Bhd. 26,960,190(-4.47%) 0.72
Great Eastern Life Assurance (Malaysia) Berhad 17,486,700(0.00%) 0.47
Dimensional Fund Advisors, L.P. 14,047,070(0.00%) 0.38
Mellon Investments Corporation 6,984,900(+0.01%) 0.19
Eastspring Investments Berhad 6,155,130(-0.03%) 0.17
Principal Asset Management (S) Pte Ltd 5,884,900(+0.16%) 0.16
BlackRock Advisors (UK) Limited 4,988,850(+0.00%) 0.13
California Public Employees' Retirement System 2,618,930(+0.03%) 0.07

Posted by wongchin > 2021-10-30 07:51 | Report Abuse

Gd morning everyone. I have mention many times these promoter every day promote non stop js becos of a few dollar of commission. Every nite they hv to crack thier head hw to promote in order to get a plate of CAT food. I eat full already now waiting to sell pau. Real pity the CAT everyday meowing for cat food.

Posted by Markable > 2021-10-30 07:56 | Report Abuse

Foresee next week SD share will uplift from suspension without SIR release.
My "Insider News~~~~~~Paper" said they are on negotiation process to get the approval

Posted by Ppmaster > 2021-10-30 08:05 | Report Abuse

Markable, last Time KPMG alrrady give the report to sc about the sb problem, now sb have to clarifying the problem raise by KPMG to sc than only can resume trading, if not just will suspended till delisted.

Posted by Ppmaster > 2021-10-30 08:07 | Report Abuse

Do you think EY is able to overcome the sb problem raise by KPMG, i dun think so.

Posted by Mabel > 2021-10-30 08:13 | Report Abuse

#wongchin Gd morning everyone. I have mention many times these promoter every day promote non stop js becos of a few dollar of commission. Every nite they hv to crack thier head hw to promote in order to get a plate of CAT food. I eat full already now waiting to sell pau. Real pity the CAT everyday meowing for cat food.
30/10/2021 7:51 AM

Ya ke?

Budget 2022

Matching grant of RM100 million for Bumiputera SMEs to explore aerospace industry

Here is something for Serba to capitalise ...

So nice Goodies for upcoming future Millionaires...

Meow

Posted by Markable > 2021-10-30 08:14 | Report Abuse

Yes, EY also mentioned there is few more "issue" need further clarify and surely it need more time, and SD boss wanted to uplift the suspension asap to avoid further "market untrust" of SD share.

Personally thinking, releasing SIR much much more important and gain back the trust from market. I no want everyday guessing this and that, tired.

Posted by Huangbk72 > 2021-10-30 08:17 | Report Abuse

EY will never ask KPMG or SD to clarify “Any” issues.

It’s not within their job scope.

Clarify is the job of KPMG/ Nexia with SD as their past and present auditors, EY is NOT.

That’s what SD is trying to mislead.

Posted by dompeilee > 2021-10-30 08:18 | Report Abuse

Unless the suppressed news is SUPER GOOD, you think Serbak orbakkak can rise BIG like Theta or BAT? 3.7 BILLION tickets outstanding with the free float already increased tremendously since EPF & KWSP & one director & Karim partially also threw in the towel earlier this year by unloading. Free float now is at least 2.6 BILLION...no better than all those con counters like XOX, AT which issued billions of worthless tickets...can't even budge on many days despite few hundred million vol!

Posted by Ppmaster > 2021-10-30 08:22 | Report Abuse

Markable, even release the sir but still cant clarifying the sb problem to sc, sb still will continue suspended, not release the sir means can resume trading, dun miss understanding.

Posted by Markable > 2021-10-30 08:25 | Report Abuse

I no hope on Good SIR, at least neutral SIR will be good enough for me, and have space to improve their management structure. Banking trust is most important as they need further financing for their deficit cashflow and future project, if SIR is bad, then is end of story.

Posted by Ppmaster > 2021-10-30 08:25 | Report Abuse

Now sb the only way is clarifying the doubt from KPMG to sc. If sc think ok, than only can resume trading,if not will continue suspended till further notice.

Posted by Ppmaster > 2021-10-30 08:28 | Report Abuse

The KPMG already mark down the sb problem and report to sc, sc look into the problem, so sb must clarifying the problem first.

Posted by Ppmaster > 2021-10-30 08:33 | Report Abuse

If sb doing false account , than is impossible to clarifing the problem raise by KPMG, ofcos KPMG sure will ask the sb management of the account problem this and that before KPMG report to sc, sb cant give the answer of the KPMG question, than only KPMG report to SC.

Posted by ǷearlꙌhite > 2021-10-30 08:37 | Report Abuse

.
To be honest, the SIR doesn't really matter anymore. Because, SD can release the Annual Report 2020 now if they want.

What this means is that Nexia has given their opinion on the FS for 2020.

The only saving grace for Bursa/EY, is for them to make sure that all their findings are correct and is consistent with the Nexia's opinion.

The so-called updated on 30th September 2021 strongly suggests that the conclusions are consistent with Nexia's opinion.

However, asking more clarifications from SD is very prudent of them, just in case if anyone questions and does not accept the conclusions of the SIR in future (which I am sure will be many and represents 80% of the participants here) and decides to make complaints to the authorities and/or take legal action.


Markable Yes, EY also mentioned there is few more "issue" need further clarify and surely it need more time, and SD boss wanted to uplift the suspension asap to avoid further "market untrust" of SD share.

Personally thinking, releasing SIR much much more important and gain back the trust from market. I no want everyday guessing this and that, tired.
30/10/2021 8:14 AM

Posted by Wirajati > 2021-10-30 08:38 | Report Abuse

As good as gone. No contest.

Posted by Ppmaster > 2021-10-30 08:38 | Report Abuse

The EY also will ask the sb boss with KPMG same question, do you think sb boss can give the answer ? If can, last time they already answer the KPMG.