Posted by themeg > 2021-12-11 18:02 | Report Abuse

Busy discussing how to spin got la. This is fraud bro, not a small joke. Directors can be jailed for this by cheating the public's hard earned money. Only irresponsible banks and bondholders want to associate with this potentially fraudulent company. TP 5 cents.

Posted by alenac > 2021-12-11 18:23 | Report Abuse

My guess is that the window dressing of financial results have been going on for many years until it was found out in early 2021. By then it's too late as management cooking of books got too "gung ho" for external auditors to control.

Posted by shareinvestor888 > Dec 11, 2021 6:16 PM | Report Abuse

Don’t understand how simple matters of verifying the trade debtor, trade creditors and stocks can be dragged to the courts…

My personal view is that say an auditor could not perform proper verifications of some accounting items and/or figures, agree that the audit process would be further delayed to the detriment of the listed company.

Who’s job or responsibility to go all out to ‘prove’ that whatever the auditors were unsure of or ‘suspicious of’ are proven correct with proper documentary evidence?

I mean, to be fair to Serbak, is there any proof of serba’s internal wrongdoings meh?

Posted by Nikmon > 2021-12-11 18:24 | Report Abuse

White, marble, solomolo gone for good ..

Lol, hope they not suicide after 100% loss..

Lose 100% in bursar, not easy ...lol

Posted by shareinvestor888 > 2021-12-11 18:31 | Report Abuse

Noted @alenac.

What I mean is that even if it’s just window dressing, where is the conclusive proof (documentary) that there is fraud?

Say serbak loses all its lawsuits against kpmg, ey & bursa, this does not mean that Serba has committed fraud right? Frauds must be proven first before it is called a fraud

Posted by alenac > 2021-12-11 18:41 | Report Abuse

I think the issue now is the lacked of transparency of Serbak and that leads to non-compliance of the directive from the regulators and along the way that causes the subsequent collapse of the share price before the inevitable suspension of the trading of Serbak shares and recently the defaulting of billions of bonds/loan due to non-payment of interest. As to the allegation of fraud, SC has an ongoing investigation. The result is pending.

Posted by shareinvestor888 > Dec 11, 2021 6:31 PM | Report Abuse

Noted @alenac.

What I mean is that even if it’s just window dressing, where is the conclusive proof (documentary) that there is fraud?

Say serbak loses all its lawsuits against kpmg, ey & bursa, this does not mean that Serba has committed fraud right? Frauds must be proven first before it is called a fraud

Posted by shareinvestor888 > 2021-12-11 18:42 | Report Abuse

I personally am not happy with the current ‘corporate’ behaviour of serbak & Karim, but I cannot say that they are ‘guilty’ until any wrongdoings are Proven Beyond Reasonable Doubt..

Posted by $$ BUYSELL $$ > 2021-12-11 18:48 | Report Abuse

Best show coming.

Posted by shareinvestor888 > 2021-12-11 18:49 | Report Abuse

Agree @alenac. Seems now SC owes the public the results of their ‘ongoing’ investigations.

Posted by alenac > 2021-12-11 18:50 | Report Abuse

Ask yourself why does the management refuse to comply with the directive of the auditors and regulators if they have not done anything wrong? Billions are at stake, why allow the value of their shares to drop if they have done nothing wrong, which they insisted all the while but refused to resolve the matter. Obviously, the cooking of books are involved, my guess.

Posted by shareinvestor888 > Dec 11, 2021 6:42 PM | Report Abuse

I personally am not happy with the current ‘corporate’ behaviour of serbak & Karim, but I cannot say that they are ‘guilty’ until any wrongdoings are Proven Beyond Reasonable Doubt..

Posted by Huangbk72 > 2021-12-11 19:04 | Report Abuse

As an investor, we put in money when we can "anticipate" market, corporate and share price movement.

To wait until " proven beyond reasonable doubt", then we better be a spectator.

This is the reason EPF sold off SD stocks immediately. They anticipate, not wait.

Posted by Jokers2020 > 2021-12-11 19:12 | Report Abuse

those useless ceo n chairman really con all the investors with their business as usual n we did no wrong comment... now downgrade to D pulak

Posted by paulthesotong > 2021-12-11 19:40 | Report Abuse

I dont think u have heard of Bernie Madoff?.Serbaman is a small fry.

Posted by paulthesotong > 2021-12-11 19:45 | Report Abuse

Worst time is the law doesnt hold liars accountable for this incredible ripoff. Continue to blown away with how much a Public listed conpany can get away...

Posted by paulthesotong > 2021-12-11 19:48 | Report Abuse

, exists simply to take u for a ride and steal your hard earned money.

Posted by paulthesotong > 2021-12-11 20:08 | Report Abuse

Really cant over the delusional nature of people who aimless pump .pathetic

Posted by OpporturnityHunter > 2021-12-11 20:27 | Report Abuse

can government supply Karim tongkat ???

Posted by Sandlejepon > 2021-12-11 20:56 | Report Abuse

Good idea......5 HA 4 U

Posted by Marky3 > 2021-12-11 20:59 | Report Abuse

I hate those who ask buy the dip.. say huat ar or whatever in this counter. Really con lot of innocent ppl.

Posted by leno > 2021-12-11 21:31 | Report Abuse

yawning ... zzzzz

Posted by ǷearlꙌhite > 2021-12-11 21:33 | Report Abuse

.
Next week, I will write 1 or 2 articles to put to rest the baseless claims from the herd and incomplete and poorly researched from a few here.

I did give some write ups previously and I will publish them again, but the next one would be good since all of the information were in the financials for the past few years since listing lying in plain sight.

It will be a stunner.
.

Posted by Consultant > 2021-12-11 21:35 | Report Abuse

Dying counter.. whoever still think serbadk stand a chance can continue dream.. because only dream could alleviate your pain

Posted by ahot75 > 2021-12-11 21:37 | Report Abuse

https://themalaysianreserve.com/2021/12/10/serba-dinamiks-coupon-payment-default-signals-wider-risks/

This IS a stunner

Posted by ǷearlꙌhite > 2021-12-11 21:40 | Report Abuse

.
Have the order of the ICAEW audit and assurance book been made yet? I don't seem to be able to find any downloadable PDF on it.

The older version of it was called auditing and financial reporting and that too cannot be found.

It would be great if that book is read wrt. contentious areas so that the it can be understood better and to what extent the SIR has actually uncovered.

Then, can be cross examined against Bursa's and TheEdge's reports and would be able to determine that TheEdge has misled the public.

Good luck with your newfound investigative skill if you already ordered it.
.

Posted by SHQuah > 2021-12-11 21:43 | Report Abuse

Karim create bad history in Malaysia stocks market. The only company CEO sueing Bursa, SC, Auditor and theEdge. He still doesn't want to admit his mistake.

Posted by Consultant > 2021-12-11 21:44 | Report Abuse

1 Vs 3... KPMG Ernst and bursa lol.. pathetic.. Chinese call throw face but I think karam has quite thick face to throw

Posted by ǷearlꙌhite > 2021-12-11 21:46 | Report Abuse

.
I believe SD should make a disclosure about this.

However, having said that, having bond holders as new shareholders isn't a bad idea after all.

But of course, the damage is not only on SD but also on the entire O&G market in Malaysia.

I am sure SD knows what it's doing.

ahot75 https://themalaysianreserve.com/2021/12/10/serba-dinamiks-coupon-payment-default-signals-wider-risks/

This IS a stunner

Posted by leno > 2021-12-11 21:52 | Report Abuse

yawning ... zzzzzzz zzzzzzzz

Posted by shareinvestor888 > 2021-12-11 21:52 | Report Abuse

Yeap… So, Up to bankers & bondholders now to decide whether wanna call event of default or not.

Up to SC to complete its ongoing investigations.

Up to court to decide on Bursa’s request to compel Serbak to release the ‘factual findings’ from EY to the public or otherwise.

Posted by InsiderShark > 2021-12-11 21:53 | Report Abuse

@PearlWhite

Why in the world the bondholders want to be shareholder? They lost money due to con. You are still hoping for a miracle, just accept it, SD is going bankrupt and your paper loss is 100%

Posted by InsiderShark > 2021-12-11 21:57 | Report Abuse

@PearlWhite

Are you Karim? You are saying EY and KPMG dont know how to audit? You lost money until you live in another world, a world where SD goes back to RM1.60.

Wake up, this is not auditing error, it is auditing fraud.

SD cooked the books with fake projects, fake numbers, fake people, fake promises, fake fake fake and fake. Wake up. your money all gone. go find karim in shah alam.

Posted by bobvic96 > 2021-12-11 22:23 | Report Abuse

Pearl White is a sad case, a legend in his own mind but with delusions of adequacy.

Seems to think he is SBDK's Director of Strategy which, if that was the case, would explain the total mess SBDK have made of trying to recover from its auditing issues.

Posted by SHQuah > 2021-12-11 22:42 | Report Abuse

If SD delisted. We know where to find him. We won't let him go off so easy.

Posted by PSAi3alert > 2021-12-11 23:05 | Report Abuse

@PearlWhite / PearlBlack / Black Mussel / Kerang Busuk / Siham Rebus / Focus Malaysia / Jazzup Media Consultancy / Eppiroi

Why bother about ICAEW audit and assurance book ?

You have all the information.

You have experience dealing with Bursa/SC/Bukit Aman (and some say Elvis).


Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD

Posted by PearlWhite Sep 9, 2021 5:42 PM | Report Abuse

.
Yes correct, based on the experience dealing with SIR with Bursa/SC/Bukit Aman, all noted in the word document and/or excel and the printed to paper.

Obviously, it will be on my hand if I am holding it.

>>> This information is now what I have at hand. <<<


Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD

Posted by PearlWhite Sep 9, 2021 2:18 PM | Report Abuse

Findings (Sufficient, appropriate and complete evidence have been obtained).

a) Receipts of payments from customers and agreed with BNM receipt disclosure
b) Office/Project/Site location, with project progress and pictures. Visitation was done. Customer contact was done.
c) Confirmation of balances by Customers
d) Sighting of assets/equipment where applicable

This information is now what I have at hand.



ǷearlꙌhite .
Have the order of the ICAEW audit and assurance book been made yet? I don't seem to be able to find any downloadable PDF on it.

The older version of it was called auditing and financial reporting and that too cannot be found.

It would be great if that book is read wrt. contentious areas so that the it can be understood better and to what extent the SIR has actually uncovered.

Then, can be cross examined against Bursa's and TheEdge's reports and would be able to determine that TheEdge has misled the public.

Good luck with your newfound investigative skill if you already ordered it.
.
11/12/2021 9:40 PM

Posted by bobvic96 > 2021-12-11 23:10 | Report Abuse

Konreem had a little pearl,
whose colour wasn’t quite white.
And everywhere that Konreem went,
 the little pearl was sure follow.

It followed Konreem to accounts one day
 which was against the rules.
“I’ll make the rules as I want” Konreem blurted
“And you bean-counters, cook the books, I’ll tell when to stop”


The auditor found the chef’s recipes, but still Konreem persisted,
And tried to bully his will on all, but to no avail, and only little pearl assisted

“I’ll sue your a$$ and everyone else's”, bellowed Konreem
“I’ll set my pearl upon you all and then you’ll see”.
At which the auditors laughed with glee,
as the pearl was only a delusional mussel.

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

pearlwhite, how much you invested in serba (or kpower or scib)? your entire portfolio?

you lost your mind. why dont you go to shah alam and talk to karim?

maybe they need a new director.

Posted by alenac > 2021-12-11 23:28 | Report Abuse

Bloody joke, recused or sack the judge ..............how far can you really go? When you are in business the last thing you want is litigation after litigation.....same storyline from Jibby's legal battle?

Posted by zoizai > 2021-12-11 23:36 | Report Abuse

Shoplot company that earned 4-5b one year cannot pay 30m coupon ??? what a joke

Posted by zoizai > 2021-12-11 23:37 | Report Abuse

promotor also cannot get salary liao

Posted by bobvic96 > 2021-12-12 00:07 | Report Abuse

zoizai promotor also cannot get salary liao
11/12/2021 11:37 PM


Hopefully, when SBDK can no longer pay the electricity bill, it will put paid to the bots running on SBDK's computer:

hijau belalang

treatshijau

muhfiq

amirf1221

etc,

They just make brainle$$ mor0n!c statements, probably selected from some computer's random phrase generator. Or, maybe they indeed are Martians, or from some other SBDK intergalactic probe which SBDK forgot to inform us about.

You also have to be concerned about the "people" who respond to them

Posted by Luckyboy88 > 2021-12-12 00:37 | Report Abuse

Alenac, guess is that the window dressing of financial results have been going on for many years until it was found out in early 2021. By then it's too late as management cooking of books got too "gung ho" for external auditors to control.

-----------------------------------------------------------------------------

*** The genius did fancy cooking in the mid of MCO.
Thereafter............ Wala!

When SD @ 1.9, I always opinion all O&G EPCC operators are dispensible in the eye of Petronas. Still valid to date.

May 2021, i sensed suspension will likely happened.

Posted in i3 CMSB, EY finding mirroring KPMG.
I said no way AR by Nov 21.

No SIR - - - - - > No AR - - - - - > No uplifting suspension.

default comes be4 AR.

What next??

1) Nexia will cabut.
2) still want to lansi, I suggest SC invoke AMLA.

AGREE?

Posted by Luckyboy88 > 2021-12-12 01:15 | Report Abuse

# shareinvestor888.

What I mean is that even if it’s just window dressing, where is the conclusive proof (documentary) that there is fraud?

Say serbak loses all its lawsuits against kpmg, ey & bursa, this does not mean that Serba has committed fraud right? Frauds must be proven first before it is called a fraud

------------------

BILL OF QUANTITY as per projects/contracts per DO/Invoices will never lie. Tally with order from suppliers.

Dare to do on-site audit?

Can billed mutimillions for air conditioning supply and installation?

Posted by Luckyboy88 > 2021-12-12 01:21 | Report Abuse

Even my 3 years old niece know to sing " liar liar pant on fire"

Posted by Luckyboy88 > 2021-12-12 01:30 | Report Abuse

Maybe air con also elik (elikkkolli).

All papers transactions.

Posted by TryMakeGoodBuy > 2021-12-12 01:52 | Report Abuse

Ms Pucat aka Pearl White

Reading one audit book already made you an expert, better than EY and KPMG.
To the life of me, I am not sure how to audit non existence debtors, wip and stocks.
But then you are to one book expert. who am I to question to you.

I am not good at auditing. But I know if SD cannot pay coupon and get down graded to default status, then the end is near. SD will not be able to get financing unless government guaranteed.

Posted by TryMakeGoodBuy > 2021-12-12 02:05 | Report Abuse

Have you wonder why SD is fighting the disclosure of the SIR?
Have you wonder if the SIR finding indicate prima facie a case of fraud?


.....................................................................
shareinvestor888.

What I mean is that even if it’s just window dressing, where is the conclusive proof (documentary) that there is fraud?

Say serbak loses all its lawsuits against kpmg, ey & bursa, this does not mean that Serba has committed fraud right? Frauds must be proven first before it is called a fraud

Posted by xxxx > 2021-12-12 02:22 | Report Abuse

No one going to jail?

Posted by Wirajati > 2021-12-12 08:09 | Report Abuse

At the end of the day, the promoters will just say, well it is ur money, we are not sorry at all...( after all promoting to buy the dip, to our success, and trust K, no one is right save for SD)... scaxxers!

Posted by Sneakpeek > 2021-12-12 08:12 | Report Abuse

Revenue 3b-6b ..but cannot pay RM 30m coupon and risk downgrading..supplier payment.. staff salary ok?

Posted by Huangbk72 > 2021-12-12 08:15 | Report Abuse

Haha… right on Wirajati

This SD thread has managed to uncover many snakes in disguise. Promoters that work incessantly to sell.

Mable
Pearl white
Solomolo
Uncle Lim
Interfund
Conpipi and his dupe accounts


People should remember them for bringing many investors to Holland

Posted by InsiderShark > 2021-12-12 09:14 | Report Abuse

Someone needs to organize a protest.