Posted by BobAxelrod > 2021-11-20 12:35 |

Post removed.Why?

Posted by superrr > 2021-11-20 12:37 | Report Abuse

SCIB business is completely connected to sb, no wonder both are facing A/C problem and was suspended by Bursa.

Posted by paulthesotong > 2021-11-20 12:38 | Report Abuse

To all the cheerleaders.. hoping for a miracle by end of this month..looks like you wont get one..wanna say things u would get sue. Cool MrK.

Posted by joyvest > 2021-11-20 13:25 | Report Abuse

Break through?

1.No need SIR

2.AR will be due to be released on 30.11.2021.

3.AR is good enough to supersede SIR

4.The problem now is whether AR is a qualified report ( unclean report) or not.

5. If it is not, it means the current auditors,Nexia, have disproved the findings concluded by EY consulting and KPMG.

6.Now then its up to the investing parties like you and me as to which auditors you believe in

7.Where it can not be proven beyond reasonable doubts,SD 's position is expected to be cast with dark clouds again.

8. Back to square one..

Posted by BobAxelrod > 2021-11-20 13:53 | Report Abuse

Nexia to come out with an AR from another dimension or parallel universe?

Can't wait to see, maybe we may find Nirvana or Shangri-La? Paradise?..... No?

Posted by bojed > 2021-11-20 14:02 | Report Abuse

I don't like to comment on weekends because it kills of the chill weekend vibe but solomolo's and other forumers' persistence in bringing up KPMG's 1MDB case just show how shallow some people are because they only care about the surface and not the essence.

I admit that KPMG are no angels but trying to compare their SD issue with 1MDB issue is like comparing the earth to Mars. On surface, both are planets but there are so many reasons why life only naturally occurs on earth and not Mars.

KPMG issued red flags on SD's account while with 1MDB, they failed to flag(intentionally or not) the misappropriation of billions of ringgits.

"The proposed acquisition never materialised and the US$500 million was misappropriated to parties related to PetroSaudi and parties related to Najib, to 1MDB's detriment.

In May 2011, Najib and the 1MDB management then again fraudulently caused a further purported investment of US$330 million in 1MDB PetroSaudi in the form of additional Murabaha Notes, to finance its purported projects in the oil and gas sector. However, the fund of US$330 million was again misappropriated to Good Star.

The plaintiffs claimed that none of the fraudulent transactions and misappropriations carried out under Najib's directive and implemented by the then management was spotted by KPMG during its tenure as the auditors of 1MDB."

https://www.theedgemarkets.com/article/1mdb-and-msian-government-sue-kpmg-partners-us564-billion

Posted by BobAxelrod > 2021-11-20 14:07 | Report Abuse

Similarly, Soh-Low-Mo-Low was said to have abstained from driving his car since getting a parking ticket back in 2017.

Posted by solomolo > 2021-11-20 14:35 | Report Abuse

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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.

On July 26, former Serba Dinamik Independent Non-Executive Director Hasman Yusoff, who is also part of 44 KPMG partners involved in the 1Malaysia Development Bhd (1MDB) lawsuit filed by the Ministry of Finance Inc (MOF Inc) and the Government of Malaysia, was investigated. police on charges of threatening the CEO of Serba Dinamik. Hasman was the Head of the General Audit and Risk Committee when KPMG raised audit issues. He has since resigned.

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

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Posted by solomolo > 2021-11-20 14:39 | Report Abuse

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

According to a South China Morning Post (SCMP) report, the SC wants to see whether the two firms played a helping and conspiring role in the scandal or were negligent.

KUALA LUMPUR: Dua firma audit terbesar dunia, Deloitte dan KPMG, kini disiasat oleh Suruhanjaya Sekuriti Malaysia (SC) berhubung pembabitan mereka dalam skandal 1Malaysia Development Berhad (1MDB).

Menurut laporan South China Morning Post (SCMP), SC mahu melihat sama ada kedua-dua firma itu berperanan membantu dan bersekongkol dalam skandal itu atau berlaku cuai.

https://www.bharian.com.my/berita/nasional/2019/01/524268/1mdb-sc-siasat-deloitte-kpmg

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Posted by solomolo > 2021-11-20 14:41 | Report Abuse

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KUALA LUMPUR: Kementerian Kewangan mengumumkan bahawa KPMG bersetuju dengan penyelesaian bernilai RM333 juta (AS$80 juta) bagi memenuhi semua tuntutan yang berkaitan dengan tanggungjawab fidusiari mereka dalam pengauditan akaun 1Malaysia Development Berhad (1MDB) untuk tempoh 2010 hingga 2012.

KUALA LUMPUR: The Finance Ministry has announced that KPMG has agreed to a settlement worth RM333 million (US $ 80 million) to meet all claims related to their fiduciary responsibilities in auditing the accounts of 1Malaysia Development Berhad (1MDB) for the period 2010 to 2012.

https://www.bharian.com.my/berita/nasional/2021/09/864928/kpmg-bayar-rm333-juta-penyelesaian-1mdb

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Posted by solomolo > 2021-11-20 14:48 | Report Abuse

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

KUALA LUMPUR: Dua firma audit terbesar dunia, Deloitte dan KPMG, kini disiasat oleh Suruhanjaya Sekuriti Malaysia (SC) berhubung pembabitan mereka dalam skandal 1Malaysia Development Berhad (1MDB).

Menurut laporan South China Morning Post (SCMP), SC mahu melihat sama ada kedua-dua firma itu berperanan membantu dan bersekongkol dalam skandal itu atau berlaku cuai.

“Akauntan mereka mesti dipertanggungjawabkan,” menurut laporan SCMP itu yang memetik sumber.

Aktivis anti-rasuah, Cynthia Gabriel, dilaporkan berkata firma audit berkenaan adalah “pihak yang terbabit dalam penipuan itu.”


KUALA LUMPUR: The world's two largest audit firms, Deloitte and KPMG, are currently being investigated by the Securities Commission Malaysia (SC) over their involvement in the 1Malaysia Development Berhad (1MDB) scandal.

According to a South China Morning Post (SCMP) report, the SC wants to see whether the two firms played a helping and conspiring role in the scandal or were negligent.

"Their accountants must be held accountable," the SCMP report quoted a source as saying.

Anti-corruption activist Cynthia Gabriel reportedly said the audit firm was "a party involved in the scam."

https://www.bharian.com.my/berita/nasional/2019/01/524268/1mdb-sc-siasat-deloitte-kpmg

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Posted by solomolo > 2021-11-20 14:53 | Report Abuse

Bojed u source before KMPG pay the fined...hehe

Posted by BobAxelrod > 2021-11-20 14:58 |

Post removed.Why?

Posted by BobAxelrod > 2021-11-20 14:59 |

Post removed.Why?

Posted by solomolo > 2021-11-20 15:01 | Report Abuse

okey bob...me on holiday loh...u just wait Mabel to entertain u...hehe

Posted by bobvic96 > 2021-11-20 15:02 | Report Abuse

Maybe it's just that Sow-Low-Moh's watch is running slow by between 3 months to 2 years


BobAxelrod This Soh-Loh really hard-up for his 25 sens per post as promoter. He even digs out 2019 stale News....hahaha

Which has no bearings with SD case too....sigh
20/11/2021 2:58 PM

Posted by Legend > 2021-11-20 15:04 | Report Abuse

Cuti la...relax.

Posted by SHQuah > 2021-11-20 16:06 | Report Abuse

Our faith is in Karim hand. Only Karim know what is going to happen next week and next month.

Posted by Sneakpeek > 2021-11-20 16:55 | Report Abuse

Satu je nak tanya...hutang dah bayar ke belum?...keh...keh

Posted by bojed > 2021-11-20 17:17 | Report Abuse

The reason why I put that source is so that you and others can read why KPMG was fined regarding 1MDB's case, but after I've read your reply, I guess you were never interested in knowing the truth in the first place.

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solomolo Bojed u source before KMPG pay the fined...hehe
20/11/2021 2:53 PM

Posted by Sslee > 2021-11-20 17:36 | Report Abuse

https://www.freemalaysiatoday.com/category/nation/2021/11/18/najib-helped-resolve-1mdb-financial-statements-with-kpmg-court-told/?__cf_chl_jschl_tk__=08BxG0rtnusiHqtXDKGmR9N2ApnuzeUJen.DmovAhW4-1637400781-0-gaNycGzNDNE

The reason why I put above link is so that all can read why KPMG signed off 1MDB' financial account.

Posted by Sslee > 2021-11-20 17:42 | Report Abuse

Or for the fact all external auditors were forced to sign off the 1MDB financial account.

Posted by solomolo > 2021-11-20 17:52 | Report Abuse

means...we want to say the police are wrong...SC is wrong...Bank negara is wrong?....only KPMG is right?.....hmmm

Posted by wongchin > 2021-11-20 17:53 | Report Abuse

What ever big or small news or multi billion contract. No SIR No AR No Cash Flow... Talk until can fly to Mar also no useless talk only. Haha...

Posted by bojed > 2021-11-20 18:00 | Report Abuse

Sslee: Some people choose to close their eyes in broad daylight and conclude there's no sun.

Posted by bojed > 2021-11-20 18:05 | Report Abuse

With that being said, I think there is a bigger chance of SD paying their coupon before announcing their SIR and AR.

Posted by Honesty > 2021-11-20 18:12 |

Post removed.Why?

Posted by alenac > 2021-11-20 18:12 | Report Abuse

If payment is made by 8th Dec 2021, SD will buy sometime even though suspended. But by May next year, the principal is due of at least RM1.7 billions. Based on the C rating no lenders are going to touch Serbak for refinancing. Slow death cumming?

Posted by bojed > Nov 20, 2021 6:05 PM | Report Abuse

With that being said, I think there is a bigger chance of SD paying their coupon before announcing their SIR and AR.

Posted by Honesty > 2021-11-20 18:13 |

Post removed.Why?

Posted by BobAxelrod > 2021-11-20 18:22 |

Post removed.Why?

Posted by Huangbk72 > 2021-11-20 18:27 | Report Abuse

No need set such a long timeline

No SIR
No AR
Delisted

Posted by BobAxelrod > 2021-11-20 18:41 |

Post removed.Why?

Posted by bojed > 2021-11-20 18:45 | Report Abuse

It's relatively easier to come up with RM30million than to come up with a clean book, hence why I think SD have a bigger chance of them completing the coupon payment rather than announcing their SIR and AR.

As I've said before, the SIR is a very simplified version of the AR. EY only need to review and verify "trivial" issues that were flagged by KPMG before. It should've been completed a long time ago but instead it has turned into a court case now LOL!

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BobAxelrod Don't be mistaken with the Time line and schedule of avalanche of issues/problems.

Phase 1 : 30 Nov : AR to SC
Phase 2 : Coupon payment on/before 9th Dec

Which comes first? Of course AR in Nov.

If AR is acceptable by SC....Lift suspension, mad rush for the EXIT door?

Phase 3 : Next May maturity of Bonds in Billions?
Crippled by Rating to re-finance.
20/11/2021 6:22 PM

Posted by BobAxelrod > 2021-11-20 18:50 |

Post removed.Why?

Posted by BobAxelrod > 2021-11-20 18:57 |

Post removed.Why?

Posted by Panorama1 > 2021-11-20 19:40 | Report Abuse

RM30m bond coupon payment should be “petty cash” for billion revenue company and PAT in excess of RM750m based on QR period ended 30/6/2021 ! Has all the cash of approximately RM500m as at QR period ended 30/6/2021 been fully depleted since 31/10/2021 ? All “will” and must be revealed by 30/11/2021. Otherwise, it is Endgame & Check-Mate.

Posted by scenery > 2021-11-20 20:37 |

Post removed.Why?

Posted by Honesty > 2021-11-20 21:01 | Report Abuse

Must be another pervert who have multiple accounts in this forum, self praising and self comfort to feel better… Wakaka

Posted by Honesty > 2021-11-20 21:05 | Report Abuse

Assumption to Accusation~~
I guess those shop lot losers just cant find any fact to talk now ~~
What a failure!! No wonder they always go for settlement for most of their law suit~~ Negligence to utterly nonsense… LOL

Posted by newtrader1989 > 2021-11-20 22:33 | Report Abuse

I think will be suspended until next GE and then when BN in power again serba matter will be resolved.

BN already win in Melaka they are looking strong to form ferderal government

Posted by Wirajati > 2021-11-20 23:12 | Report Abuse

In 1 month time got 3x 6% return from non sd/scib trade
...that is about 18% ( good enuff, if the capital is a small 20k). Sd, oops sorry...non tradeable ekeke...just pray la it will open, not that soon or perhaps never will. Ekeke. Keep promoting this non tradeable counter...i am happy 4 u wakaka

Posted by derrickinvestor > 2021-11-21 01:48 | Report Abuse

Wirajati, it may get delisted soon..

Posted by Honesty > 2021-11-21 09:43 |

Post removed.Why?

Posted by JJchan > 2021-11-21 10:40 | Report Abuse

with Melaka Win, Karim political bailout seems Higher but Bersatu's axe is getting sharper as
days passed. I think GE15 will come late into 2022 bcos Bersatu as usual will Delay Election
for their benefit.-----So Karim, How??????

Posted by leno > 2021-11-21 10:53 | Report Abuse

#TangkapKarim

Posted by Sneakpeek > 2021-11-21 12:14 | Report Abuse

30 million payment also delay don't know can pay or not..purchase deposit forfeited ..every year report NP hundreds of millions..

Fitch rating C..how to secure fund to refinance sukuk?

Posted by newtrader1989 > 2021-11-21 13:09 | Report Abuse

Anytime next week

Boars of directors pleased to inform that bursa have rejected the extension of annual report submission by 31st Dec. We dont expect any material impact as the trading is already suspended . dont worry Its BAU

Posted by newtrader1989 > 2021-11-21 13:11 | Report Abuse

Boars of directors pleased to inform that SDH have defaulted on bond payment. We are exploring legal avenues to sue the creditors. Rest assured its BAU

Posted by newtrader1989 > 2021-11-21 13:22 | Report Abuse

Karim for the PM

__________________________________
JJchan with Melaka Win, Karim political bailout seems Higher but Bersatu's axe is getting sharper as
days passed. I think GE15 will come late into 2022 bcos Bersatu as usual will Delay Election
for their benefit.-----So Karim, How??????

Posted by value_seeker > 2021-11-21 13:32 | Report Abuse

Honesty/ do you hold any stock. You talk a lot of cock and try to trap others. You honestly think everything is ok? Look into the mirror and say i am honest. You are getting people to loss money if they invest in this company. You should advice people to buy once everything is clear. You talk as nothing has happen. You are the most dishonest person in Serbak forum. You intention are malicious and you will get the bad karma soon.