Customers that previously accounted for huge revenue contributions have gone missing in the latest quarterly results.
Fake projects from Process Dynamics Company, Halul Offshore Services Company WLL and Pavilion Qatar Engineering Co WLL continue to be recorded in Qatar.
Serbadk. = Transmile. , toilet paper soon , a lot sohchai cannot escape , last time Transmile trade until 0.05 sen , close shop ,this Serbadk 35 sen close shop , more teribble ,
Many sonchai here trap , soon Serbadk award u a toilet paper
so far round 1, Karim won hands down. Bursa Talks Big but cannot do anything. Coming, Coming 31Dec 2021 Karim sent AR or SIR to Bursa ( accept or throw it into the LongKang---Bursa your move )
. Bursa, EY and The Edge - The number is seen but cannot be seen otherwise By Pearlwhite 2nd December 2021, 6.50PM
That’s right, RM1.438 billion of audit discrepancies that cannot be verified. What could that RM1.438 billion be? What does it consist of?
We now know for sure it must be verified at its physical place and location wherever it is. That physical place and location would be outside of Malaysia as disclosed by CEO Karim Abdullah.
Auditors will not conduct site visits unless and until documentations and signed confirmations are done with. This is huge setback for market talk of fictional revenue, receivables, vendors and stocks since auditors do not conduct site visits unless and until after documentations and signed confirmations are verified.
This disclosure by CEO Karim Abdullah is important as the discrepancies of up to RM3 billion that were resolved were within the Malaysian borders. Moreover, some of the RM3 billion of resolved discrepancies were related to companies which had KPMG as their external auditor.
So why would physical place and location verification be so important then? Despite all the documentations and signed confirmations that is had, such physical sighting as auditors calls it, is important because it confirms “existence”. Existence has the objective reality or being visible to our eyes.
Existence is what gives credibility and legitimacy to the to what are stated in the financial statements.
If existence cannot be verified, whatever that is stated in the financial statements can be fictional, no matter the paper and signed confirmations. For all you know, when its fictional, it may well be signed confirmation from a monkey.
Areas that require sighting includes assets, customer and vendor premises and stocks.
So, with the documentations and signed confirmations in file, let’s go sightseeing and photograph the places of interests.
“Hopefully the easing of standard operating procedures on Covid-19 restrictions in different countries can help to expedite the verification process. It depends on agreement or cooperation of all parties involved,” he told The Malaysian Reserve when asked about the date the group will be able to announce the findings.
p.s. Please circulate to the Telegram/Whatsapp group and forums. Thanks. .
It was never a case of Serba vs KPMG (and subsequently Serba vs Bursa and Serba vs EY).
However, there will be schizophrenic people who will insist that fictitious projects, along with unicorns, do exist; and that some secret messages need to be disseminated to Telegram/Whatsapp groups.
It was, and still is, about Serba vs the integrity of the Malaysian capital market. And, most importantly, the integrity of the market ought to be protected, come hell or high water.
Stock Kingdom Thank you so much to PSAi3alert, for your great efforts in disclosing the hidden dirts from this Serba 02/12/2021 5:14 PM
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
freddiehero
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Posted by freddiehero > 2021-12-02 12:26 | Report Abuse
casino can't open, but business still running, is tat easy?