Posted by Nikmon > 2021-11-29 22:37 | Report Abuse

So many smart investor conspiracy....if EY and KPMG can't verify transaction, example client and supplier are from same person name pearwhite, EY and KPMG are 'obligator' report to bursar and SC.. EY work for nobody except themselves....stop investing as your brain too small. EY may be charge or sue if they try to hide or not report those illegal transaction.

This is why it is questionable which shop lot auditor willing to sign the AR when EY and KPMG found that supplier and client are same owner Pearwhite....haha


Prudentinv quoted From what I can understand from all the comments, KPMG and EY consultant maybe working with Bursa.

Posted by Prudentinv > 2021-11-29 22:50 | Report Abuse

This EY is not the big 4 auditors. This is EY consultant. What is their credibility for such Audit?

Posted by Honesty > 2021-11-29 22:56 | Report Abuse

Great progression!!

ǷearlꙌhite .
Note : Status the same @1st November 2021. Key focus is to disclose items before 31st December 2021 (previously 30th November 2021).

@29th 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 Honesty > 2021-11-29 22:57 | Report Abuse

Assumption to Accusation to Denial to Disillusioned Reality to Repeat Old Stories and Name Calling !!
Daily Nay Sayers Activities, in order to brain wash people perception~~
Wakaka

Posted by Honesty > 2021-11-29 22:58 | Report Abuse

For a trash talker who create multiple account to syiok sendiri and back up his own point; is pretty interesting.
It just proved there is always a weirdo among us !!
Wakaka

Posted by Honesty > 2021-11-29 23:00 | Report Abuse

ZzzZzz~~ Time to snore like baby again

Posted by Moneymore > 2021-11-29 23:23 | Report Abuse

Tomorrow if still no AR, what will happen since appeal for extension is rejected..PN17?

Posted by maf1964 > 2021-11-29 23:53 | Report Abuse

Posted by Honesty > Nov 29, 2021 10:58 PM | Report Abuse

For a trash talker who create multiple account to syiok sendiri and back up his own point; is pretty interesting.
It just proved there is always a weirdo among us !!
Wakaka......

are u refering to mabel

Posted by maf1964 > 2021-11-29 23:54 | Report Abuse

Shes pusie lickin good

Posted by maf1964 > 2021-11-29 23:55 | Report Abuse

but a it low in grey matter in the head.

Posted by KnifeEdge > 2021-11-29 23:59 | Report Abuse

When KPMG and EY, the two most renown accounting professionals in town and world stage, conclude the same things, it is as good as dead.

It will be very interesting to see how the great saga ends.

Posted by Mabel > 2021-11-30 00:23 |

Post removed.Why?

Posted by muhfiq > 2021-11-30 08:23 | Report Abuse

Looking at the current trend

Any update from the authority?

Posted by muhfiq > 2021-11-30 08:26 | Report Abuse

The turmoil will end soon

But the decision is the most given attention

Interesting one

Posted by i3lurker > 2021-11-30 08:35 | Report Abuse

Personally I always assign more resources and priority to audit fully paid up receivables as these are always the most suspicious.

and what do you know, they usually are.............

=> People are indeed the same everywhere.....
kakakakaka

:)

Posted by Mabel > 2021-11-30 08:49 |

Post removed.Why?

Posted by tradersampah > 2021-11-30 08:51 | Report Abuse

today is the day!!!!
hopefully x kena chong

Posted by InvestorKING > 2021-11-30 09:15 | Report Abuse

Ataims is now very exciting

Posted by hijau belalang > 2021-11-30 09:40 | Report Abuse

let see
who will gain the most

Posted by hijau belalang > 2021-11-30 09:41 | Report Abuse

exciting time
should clear the air
and proceed to next phase

Posted by BobAxelrod > 2021-11-30 09:41 | Report Abuse

@888....Looks like almost all 10 are in the RED....what's No. 8???


Posted by Mabel > Nov 30, 2021 8:49 AM | Report Abuse



Trending Now - Hot Stocks Today

Rank Company Score

1 TOPGLOV 1000
2 SUPERMX 441
3 DNEX 289
4 HARTA 270
5 CAREPLS 228
6 PBBANK 218
7 TENAGA 217
8 GENTING 213
9 ATAIMS 207
10 SERBADK 191

Last updated: Nov 30, 8:20 AM

Posted by InvestorKING > 2021-11-30 09:45 | Report Abuse

31days to go, it is expected to release all on 31 December, then everyone will see the show on 3 January 2022

Everyone should be back from holidays then see the show on 3rd January

Posted by Mabel > 2021-11-30 09:50 |

Post removed.Why?

Posted by Mabel > 2021-11-30 09:51 | Report Abuse

#InvestorKING 31days to go, it is expected to release all on 31 December, then everyone will see the show on 3 January 2022

Everyone should be back from holidays then see the show on 3rd January
30/11/2021 9:45 AM

Cheers InvestorKING!

Meow

Posted by BobAxelrod > 2021-11-30 09:53 | Report Abuse

Why...oh, why???


Posted by Mabel > Nov 30, 2021 12:23 AM |

Post removed. Why?

Posted by Mabel > 2021-11-30 10:02 | Report Abuse

#BobAxelrod Why...oh, why???


Posted by Mabel > Nov 30, 2021 12:23 AM |

Post removed. Why?
30/11/2021 9:53 AM

Not sure why...Mabel was replying to two poor babies last night sharing how beautiful life is when Gloves has already move up the leaderboard and has climbed double digits for 2 consecutive days since Friday...

Maybe the Lobsters and King Crabs menu was too much for some to chew..

One day this will happen to Serba when all these issues is resolved..

To Our Success!

Meow

Posted by hijau belalang > 2021-11-30 10:03 | Report Abuse

back to the initial
want to see more profit
make everyone happy

Posted by Mabel > 2021-11-30 10:08 | Report Abuse

#hijau belalang back to the initial
want to see more profit
make everyone happy
30/11/2021 10:03 AM

To Our Success !

Meow

Posted by ǷearlꙌhite > 2021-11-30 10:09 | Report Abuse

.
Bursa and TheEdge : Is this auditing standards and is it really good for the capital markets?
By Pearlwhite
30th November, 2021 9.45AM

The revelations made by The Edge in is feature length coverage on 29th November 2021 entitled “Bursa’s suits sheds more light on Serba Dinamik’s financials” is really worth a read.

So much so, that the only addition to what is already mainstream knowledge in the entire coverage was the following, apart from highlighting EY’s one sentence finding in the four areas,

“EY Consulting’s findings update recorded in the court documents highlight the same concerns that KPMG had over the company’s transactions. The Company state that the financial impact on the company from EY Consulting’s findings under the SIR amounted to RM1.438 billion as at Oct 22, 2021.”

Recaps are definitely a good way to reinforce how serious EY Consulting’s findings are. For the list KPMG’s findings previously, here it is.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3162085

https://www.theedgemarkets.com/article/kpmg-raised-audit-issues-transactions-involving-over-rm3-billion-says-serba-dinamik. This involved RM3 billion of transactions with audit issues excluding trade/non-trade receivables.

https://themalaysianreserve.com/2021/10/27/serba-dinamiks-special-audit-review-facing-operational-matters. This involved more than RM3.5 billion of transactions with audit issues.

Note that the KPMG raised audit issues transactions of RM3 billion excludes Trade and Non-Trade Receivables. With its inclusion, the estimated amount is more than RM3.5 billion, in some cases estimated to be up to RM4.5 billion.

There are three concerns arising from this

Firstly, if EY’s findings concur with KPMG’s findings in its entirety, why are the findings called “Factual Findings Update”? Shouldn’t it be the “Conclusion”? After all, a conclusion is when there is beyond reasonable doubt that the findings do not contain any questionable facts and hence cannot be challenged.

Secondly, since EY's findings all concur with KPMG's finding, why is it that the impact now RM1.458 billion?

Finally, EY’s opinion that the impact is RM1.438 billion and not more than RM3.5 billion (and possibly up to RM4.5 billion) as previously reported. Does this mean RM2 billion to RM3 billion worth of transactions have been classified as not being audit issue anymore? This is in fact a good progress, since 57% up to 67% of the contentious value has been cleared.

In a nutshell, given these three concerns, it is evident that EY’s SIR, albeit still work in progress, had managed to clear possibly up to RM3 billion of transactions. The balance of RM1.458 billion needs to have further audit verification works done in order to conclusively close the matter at hand.

p.s. Please circulate to the Telegram/Whatsapp group and forums. Thanks.
.

Posted by BobAxelrod > 2021-11-30 10:09 |

Post removed.Why?

Posted by shareinvestor888 > 2021-11-30 10:14 |

Post removed.Why?

Posted by shareinvestor888 > 2021-11-30 10:16 |

Post removed.Why?

Posted by shareinvestor888 > 2021-11-30 10:17 |

Post removed.Why?

Posted by hijau belalang > 2021-11-30 10:31 | Report Abuse

watch the progress
monitor the movement
will dictate the next plan

Posted by hijau belalang > 2021-11-30 10:32 | Report Abuse

tomorrow or today
very near already
fighting

Posted by Mabel > 2021-11-30 10:55 |

Post removed.Why?

Posted by Superbull898 > 2021-11-30 11:00 | Report Abuse

Serbadk will Kena compound by Bursa no report release by today ,RM 10 milion compound ,
Paria boss kena pay compound .

Posted by Junx Leow > 2021-11-30 11:08 | Report Abuse

Boss pay or company pay

Posted by BobAxelrod > 2021-11-30 11:12 |

Post removed.Why?

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

Still xda AR/SIR ka?

Posted by shareinvestor888 > 2021-11-30 11:15 | Report Abuse

Ikrar means Solemn promise ya?

https://www.astroawani.com/berita-bisnes/abdul-karim-ikrar-pulihkan-saham-serba-dinamik-326881

Posted by BobAxelrod > 2021-11-30 11:19 | Report Abuse

Trust is hard earned,.....not to be taken for granted.

Posted by Huangbk72 > 2021-11-30 11:53 | Report Abuse

Already known..

Mable is expert in cut and paste job......

Others.. not so good.

Posted by muhfiq > 2021-11-30 11:55 | Report Abuse

Today is already the last day of this month

How long will it take?

Posted by muhfiq > 2021-11-30 11:55 | Report Abuse

Must be quick

Or else other consequences will occur

Be prepared

Posted by Depeche > 2021-11-30 12:05 | Report Abuse

@Tradersampah..... seriously, don't think will see AR today...SIR definitely not.

Posted by InterFund® > 2021-11-30 12:12 |

Post removed.Why?

Posted by Stockisnotfun > 2021-11-30 12:15 | Report Abuse

Will be in cold storage already. Doesn't matter they can meet the whatever upcoming deadline already for the report.

Posted by Huangbk72 > 2021-11-30 12:18 | Report Abuse

Not everyone got scammed...

Smart investors all staying on sidelines waiting for SIR....

Posted by freddiehero > 2021-11-30 12:36 | Report Abuse

huhuhu.. when open casino