Posted by muhfiq > 2021-11-18 10:10 | Report Abuse

Wait to see if can make profit

Still got some in there

Or later for purchase

Posted by Stocksafeplayer > 2021-11-18 10:12 | Report Abuse

Well said @Panorama, actually audit refers to past or historical records as at the audit ending date mah.

If I were a businessman, I worry about current cashflow & future cashflow situations…. auditors are auditing my past records anyway.

So, Serba’s submission deadline of 30 Nov21 is for audited accounts until when? For period ending 31st Dec 2020 or ending 30june 2021?

Today is 18 Nov 2021

Posted by neohts > 2021-11-18 10:13 | Report Abuse

Another 12 days for AR and QR ?
Karim , can you make it ?

Posted by straightarrow > 2021-11-18 10:28 | Report Abuse

Everything is ready for quite sometime just that they don't want the public to view it "malu" tatz why EY and Bursa are being sued. Heavy losses in such investment.

Posted by Panorama1 > 2021-11-18 10:31 | Report Abuse

It will not be based solely on historical records and financial end date based on my past dealings with Auditors during my younger days. It will still need to be reviewed in totality up to the date of issuance of QR in compliance with Accounting Standards on going concern, impairments, after balance sheet to current dates developments etc. Otherwise, meaningless to have QR and audited accounts to guide investing decisions.

Posted by superrr > 2021-11-18 10:35 | Report Abuse

倘若SB只如初見, 何必秋風悲畫扇.... 哈哈 於以聊哉 ......

Posted by IdleMoney66 > 2021-11-18 10:40 | Report Abuse

Karim = icon of Bumiputera entrepreneur

Posted by Depeche > 2021-11-18 10:40 | Report Abuse

Serba still premier partner in Dubai Expo...showcasing their aerospace biz segment...SD has huge aspirations for company and country.. today's news in FM...will not say more... leave to individual interpretation.

Posted by superrr > 2021-11-18 10:42 | Report Abuse

I have a few friends who are very experienced auditors . there all said there must be a problem with A/C.

Posted by profitgrow > 2021-11-18 10:49 | Report Abuse

IdleMoney66 Karim = icon of Bumiputera entrepreneur ....... <--- this is a joke right? there's many good bumiputera entrepreneur, but Karim definitely not 1 of them

Posted by Depeche > 2021-11-18 10:50 | Report Abuse

I said before odds are against a good SIR... but it's gonna go down the wire to see the fate of SD... survive. delisted or privatize... no one has the answer here... fair?

Posted by tradersampah > 2021-11-18 10:52 | Report Abuse

ari2 aktip forum ni, tp SD still diam membisu

Posted by amirf1221 > 2021-11-18 10:55 | Report Abuse

Should have the result
The quicker is better
Then have ample time

Posted by 8dragon > 2021-11-18 10:57 | Report Abuse

Is there possibility for SD going into liquidation.....

Posted by Depeche > 2021-11-18 11:01 | Report Abuse

SC said will ensure complete investigations in a timely manner.... based on what time line? Again leave to individual interpretation and speculation.

Posted by ǷearlꙌhite > 2021-11-18 11:05 | Report Abuse

.
Note : Status the same @1st November 2021. Key focus is to disclose items before 30th November 2021.

@15th November 2021
Details of Key Action Indicators. Lets run the show for the better of SD.

COMPLETED ACTIONS FROM DETAILS BELOW
- Restructure company to greater heights - more contracts/projects, focus on customer.
- Founder's legacy 1 - removed margin call risks till 10 sen and before completion of SIR.
- Manage cash flow and forecasts.
- New financing initiatives will not involve Private Placement. and Rights Issue.
- EY will provide finalised SIR to Bursa.
- Bursa to request SD to announce SIR findings.
- Complete 2020 audit and annual report as planned.
- Complete 30/9/2020 QR within time frame or earlier (1st draft out by 21/10/2021).
- Group meetings with asset / fund managers together with re-rating agencies. Initiate re-rating process..
- Meeting with current financiers. Initiate re-rating process.

=====================================================================
OUTSTANDING / ON-GOING

Shareholders' Mandate
- Founder's legacy 2 - restructure founder shareholdings to focus on future strategy, finance, legal - in progress

Business Development
- Re-engage lost and new customers and continue to win more contract/projects - in progress
- Provide more innovative and new products and services to customers world wide. - In progress

Operations / Project Management / Procurement
- Continue focus on delivering continue safety, operational efficiency and cost effectiveness - in progress
- Continue to delivery on projects within customers expectations and satisfaction on time.

Finance
- Manage collections and expenditures - In progress

Governance
- Issues highlighted in forum will be dealt by SC/Bursa directly with forummers. SD will have no part in time wasting activities. - In progress.
- To deliberate offer by KPMG to resolve legal issue. - In progress.
.

Posted by Stocksafeplayer > 2021-11-18 11:05 | Report Abuse

So, I think the CEO should worry about current cashflow & future cashflow situations…. auditors are auditing my past records anyway.

Posted by wongchin > 2021-11-18 11:05 | Report Abuse

No sir no ar no cash flow. Chinese says if dt die also no cure.

Posted by amirf1221 > 2021-11-18 11:06 | Report Abuse

Many possibilities
Should prepare for all
Now is the time to correct the situation

Posted by amirf1221 > 2021-11-18 11:07 | Report Abuse

Sure got assistance
Will see soon
After all this is owned by the secured side

Posted by Stocksafeplayer > 2021-11-18 11:10 | Report Abuse

FYE means financial year end …. Audit in my previous experience means refer to all past records, past transactions, past bank account statements … only for the period under audit.

Hence, FYE 31Dec20 means audit is done for only up to 31Dec20. That is why when we borrow money from banks for our companies, banks always say they want ‘latest management acconts’ also bcos audited accounts referred to past results & financial positions in both Balance Sheet & Profit/Loss statements.

Posted by superrr > 2021-11-18 11:14 | Report Abuse

Even though sb got hundred millions millions of projects ( only in paper works ) but can't fulfilled the Bursa requirement, going to be delisted is in line with logically circumstance..

Posted by Depeche > 2021-11-18 11:16 | Report Abuse

Also said before last saving grace could be the AR this month... hope it'll be out eventually, no matter how hard the labor... must get a good head start to ensure smooth labor...LOL

Posted by InterFund® > 2021-11-18 11:17 | Report Abuse

Nothing can be done to this rubbish counter...................

Posted by neohts > 2021-11-18 11:23 | Report Abuse

Pearl White....where do you get your status report ?

1) Are you so confident that AR and QR could be ready before end of this month.

2) Governance
- Issues highlighted in forum will be dealt by SC/Bursa directly with forummers. SD will have no part in time wasting activities. - In progress.
- To deliberate offer by KPMG to resolve legal issue. - In progress.

Posted by leno > 2021-11-18 11:25 | Report Abuse

in his dream.

Posted by Stocksafeplayer > 2021-11-18 11:26 | Report Abuse

Since Judges are NOT auditors,

IF the contentious issue in the lawsuit is about audit issues, what do you think the Judge would suggest?

I think the judge may instruct either Deloitte of PWC to conduct SIR since serba already sueing Kpmg & EY ….LOL


BobAxelrod Yeah, how to go to Court and face an angry Judge when AR not produce by end Nov in the first place....hahahaha
18/11/2021 9:33 AM

Posted by Stocksafeplayer > 2021-11-18 11:27 | Report Abuse

No wonder nowadays Judges and Court of Appeal getting busier…

Posted by amirf1221 > 2021-11-18 11:32 | Report Abuse

Busier in court
Someone will be in favour
Which side will win?

Posted by Stocksafeplayer > 2021-11-18 13:02 | Report Abuse

Wise words… thanks for sharing @Loading

Loading Bocor kecil dibiarkan , bocor besar menyusahkan ,

Bulu serigala boleh bertukar , sikap serigala susah bertukar ,

Bunuh seratus orang tu mudah , tegur seorang tu payah ,

Miskin bukan kerana kuat makan atau pakai , tetapi kerana tidak pandai mengira ,

Melontar batu ke langit terkena kepala , mengali lubang di tanah terperosok kaki .

18/11/2021 9:36 AM

Posted by Stocksafeplayer > 2021-11-18 13:09 | Report Abuse

This one is very useful advice for PearlPutih, resident at TR,

Melontar batu ke langit terkena kepala , mengali lubang di tanah terperosok kaki .

Posted by Stocksafeplayer > 2021-11-18 13:10 |

Post removed.Why?

Posted by bojed > 2021-11-18 13:23 | Report Abuse

It's not a question of whether the AR can override the SIR but rather it's a question of why is it so difficult to announce the findings of the SIR ahead of the AR?

Posted by superrr > 2021-11-18 13:24 | Report Abuse

Pearwhite is a reporter, so he will like to creating own report , when on a whim, he will write any dream language that makes him happy and imaginative....hahaha.

----------------------------
neohts Pearl White....where do you get your status report ?

1) Are you so confident that AR and QR could be ready before end of this month.

2) Governance
- Issues highlighted in forum will be dealt by SC/Bursa directly with forummers. SD will have no part in time wasting activities. - In progress.
- To deliberate offer by KPMG to resolve legal issue. - In progress.
18/11/2021 11:23 AM

Posted by superrr > 2021-11-18 13:28 | Report Abuse

White is written as black, black can also be described as red....

Posted by Stocksafeplayer > 2021-11-18 13:28 | Report Abuse

https://www.nst.com.my/business/2021/07/712153/serba-dinamiks-next-challenge-deliver-2020-financial-accounts-time-says-mswg

(Excerpt from abv news)
‘Yesterday, the board of Serba Dinamik nominated Nexia SSY to fill up the void and audit its financial accounts for the year ended June 30, 2021.

Nexia SSY is an independent member firm of Nexia International, a leading London-based global network of independent accounting and consulting firms.’

Posted by solomolo > 2021-11-18 13:30 | Report Abuse

...................

Hasman Yusri Yusoff didakwa di mahkamah Majistret di Jalan Duta, Kuala Lumpur Selasa, 27 Julai atas tuduhan ugutan jenayah. juga merupakan bekas pengerusi audit dan risiko, dituduh di bawah Seksyen 507 Kanun Keseksaan kerana didakwa mengugut untuk mengenakan kecederaan fizikal ke atas seorang rakan ahli lembaga pengarah lain.

Hasman, seorang bekas rakan kongsi di KPMG Malaysia sebelum bersara pada Disember 2015, dilantik sebagai ahli lembaga pengarah Serba Dinamik pada 16 November, 2016 dan meletak jawatan pada 24 Jun lalu, bersama empat INED yang lain.

Hasman juga ialah seorang daripada defendan dalam kalangan 44 rakan kongsi KPMG yang dinamakan dalam satu saman 1Malaysia Development Bhd (1MDB) yang dikemukakan oleh Ministry of Finance Inc (MOF Inc) dan Kerajaan Malaysia.

Hasman menyebut “perbezaan pandangan dengan keputusan dibuat lembaga pengarah yang pada pendapat beliau bukan dalam kepentingan terbaik syarikat” sebagai alasan meletak jawatan.

Keempat-empat INED yang berhenti sekali gus bersama Hasman ialah Tengku Datuk Seri Hasmuddin Tengku Othman, 59; Rozilawati Basir, 50; Sharifah Irina Syed Ahmad Radzi, 44; dan ahli yang baru dilantik Masleena Zaid.

https://updatesmalaysia.com/bekas-pengerusi-jawatankuasa-audit-serba-didakwa-di-mahkamah/

...............................................

Posted by Stocksafeplayer > 2021-11-18 13:32 | Report Abuse

Audited accounts for certain period until 30 June 2021.

So, next quarterly results (July till Sep 2021) should be released in November this month right?

Posted by superrr > 2021-11-18 13:33 | Report Abuse

People have completely lost confidence in sb, and there is no chance to look back..

Posted by joyvest > 2021-11-18 13:42 | Report Abuse

No use.

Whoever takes over as new auditors must leave no stone unturned otherwise facing the threat of being sued. Basically,the new auditors must disprove the findings concluded by KPMG and EY to enable SD to agree.

Do you think SD would compromise with the new auditors for anything less ? Not in your fantasy and the drama will continue .......

One man's poison is not necessarily another man's meat

Posted by tradersampah > 2021-11-18 14:14 | Report Abuse

ari2 aktip forum ni, tp SD still sibuk dgn software batuk.

Posted by superrr > 2021-11-18 14:22 | Report Abuse

For example , if a student in school sue classmates, sue teacher, sue principal, and sue school security guard. Can u predict that he can still study at school ??

Posted by solomolo > 2021-11-18 14:35 | Report Abuse

...............

KPMG kemuka pembelaan terhadap dakwaan Serba Dinamik

KUALA LUMPUR: Dalam tindak balasnya terhadap tindakan undang-undang yang difailkan oleh Serba Dinamik baru-baru ini , KPMG telah mengemukakan tuntutan pembelaan yang mana menyatakan tuduhan yang dibuat itu sebagai perkara yang remeh serta penyalahgunaan proses pengadilan.

KPMG kemudian menuntut pelantikan juruaudit bebas pihak ketiga untuk menyelesaikan masalah berkenaan. Mereka juga membuat laporan mengenai perkara itu kepada Suruhanjaya Sekuriti (SC), meskipun mereka tidak dapat menyimpulkan penemuan audit berkenaan.

Serba Dinamik pula menyatakan sebahagian besar dakwaan mereka adalah berasaskan Seksyen 320 akta yang sama, yang mana KPMG didakwa bertindak sebelum waktunya dalam melaporkan penemuan yang tidak lengkap kepada SC, yang mana melanggar syarat-syarat Seksyen 320 (1) yang menghendaki ia terlebih dahulu membentuk pendapat profesional bahawa pelanggaran telah terjadi sebelum ia memfailkan laporan.

Serba Dinamik menambah, permintaan KPMG untuk melantik juruaudit bebas bagi mengesahkan penemuan mereka menjadi perdebatan sejak awal seolah-olah KPMG tidak yakin dengan proses dan penemuan audit mereka sendiri.

Pada 26 Julai, bekas Pengarah Bebas Bukan Eksekutif Serba Dinamik, Hasman Yusoff yang juga adalah sebahagian daripada 44 rakan KPMG yang terbabit dalam tindakan undang-undang 1Malaysia Development Bhd (1MDB) yang difailkan oleh Kementerian Kewangan Inc (MOF Inc) dan Kerajaan Malaysia, disiasat polis atas dakwaan kesalahan mengancam Ketua Pegawai Eksekutif Serba Dinamik. Hasman ialah Ketua Jawatankuasa Audit dan Risiko Serba ketika KPMG membangkitkan masalah audit. Sejak itu beliau meletak jawatan.

https://www.bharian.com.my/bisnes/korporat/2021/08/857524/kpmg-kemuka-pembelaan-terhadap-dakwaan-serba-dinamik

.................................

Posted by r2d288 > 2021-11-18 15:24 | Report Abuse

the father open the school, can do that. hahaha

Posted by Stocksafeplayer > 2021-11-18 15:29 | Report Abuse

Excellent answer @r2d288…. Hahaha

Posted by treatshijau > 2021-11-18 15:31 | Report Abuse

time to see the updates
will there any shocking news?

Posted by treatshijau > 2021-11-18 15:32 | Report Abuse

heard exciting news
becoming more interesting
at the end, who is the real culprit?

Posted by xuxu > 2021-11-18 15:55 | Report Abuse

many are losing patience now !!!

Posted by TopJerung > 2021-11-18 16:05 | Report Abuse

If Serbadk found to be playing accounting fraud, all the retailer can gang up and lodge lawsuit to sue Serbadk for compensation ?? hahhahaa

Posted by treatshijau > 2021-11-18 16:07 | Report Abuse

losing patience with the injustice
been waiting for the truth
hope it will be revealed soon