Posted by wolfbroker > 2021-12-21 11:26 | Report Abuse

I think this will be a good indicator for them to help.

Flood situation is getting better. Praying for the best

Posted by wolfbroker > 2021-12-21 11:27 | Report Abuse

Felt relieved for the latest updates here at market buzz

at least they are giving something than just keep quiet

Posted by joyvest > 2021-12-21 11:28 | Report Abuse

Special Branch officer was not workable.

They are trying another New Chairman who has political background in the hope of GPS would intervene ??? As said early , someone must pay on behalf of the bogus /fake /dummy receivables to make them all look genuine to be recoverable

Posted by dianatrader > 2021-12-21 11:29 | Report Abuse

this i3 forum really help me, i think just believing in SC and bursa is enough hahah

Good and bad things happened here especially. neutral stuff

Posted by dianatrader > 2021-12-21 11:30 | Report Abuse

GPS intervening would be a good indicator right?

considering they have a good power at Sarawak

Posted by alieyasmart > 2021-12-21 11:32 | Report Abuse

Yeah, i3 really helps in stating the reality rather than just numbers

Posted by alenac > Dec 21, 2021 9:33 AM | Report Abuse

Smart of you now. Better be safe than regret later. SC and Bursa had to act within their powers given by the higher authorities and the Securities laws. Their functions are not only to catch crooks but to regulate the capital markets in an orderly manner. Once in a while, these authorities will have to deal with crooked listed corporations.

Posted by Sslee > Dec 21, 2021 9:27 AM | Report Abuse

Back then I was so naive in believing SC and Brusa will protect minority shareholders interest and go after the Xingquan BOD. Now I learnt for i3 to lari kuat kuat when I sense the first sign/red flag of fraud.

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

yup, it has come to an end this year. lets see what happened.

Posted by shybutter > Dec 21, 2021 11:05 AM | Report Abuse

With Serba Dinamik getting 790+ million for Q1FY22 gives me confident they can do something good.

We will see what happened next. looking forward for any updates

Posted by hanna20 > 2021-12-21 11:35 | Report Abuse

Good for you, sense red flag on other stock options and its a good decision that i pull off. Here im not sure, neutral good and bad

Posted by Sslee > Dec 21, 2021 9:28 AM | Report Abuse

Back then I was so naive in believing SC and Brusa will protect minority shareholders interest and go after the Xingquan BOD. Now I learnt from i3 to lari kuat kuat when I sense the first sign/red flag of fraud

Posted by hanna20 > 2021-12-21 11:36 | Report Abuse

what is the wise decision here,

good blog article tho.

Might need to keep optimistic here

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

Aduh!!!

What happened to all the promoters???

Ms Meow has gone for long sleep? RIP?

Ms Pearlwhite is still spinning her inside knowledge of the SD game plan.
Well all this is part of the game plan defaulting, fighting auditors and authorities and changing chairmen.
New spin, now talk politics.
Remember all the darling UMNO counters that went bust!!!

Now got regular promotor Prudentinv still wearing diapers.
AR is not important, politics is!!!
Wonder why produce AR at all. Just buy because someone is related to someone.
No corporate understanding also.
I mentioned earlier how auditors work.
They point out some issues and want company to settle by next audit so as not to appears again. Auditors give benefit of doubt to company. But if still appear again and is so glaring, auditor will need to state in AR.

I also mentioned EOD will not be called so early as agent/trustee need to give notice to bond holder EOD had occurred and call meeting to decide.

Posted by superrr > 2021-12-21 11:38 | Report Abuse

Bond defaulted
A lot of resignations
A lot of sue cases
A lot of new projects ? Questioned
The bigger debt will soon be due
Bankers has retracted the umbrella ? can't repay the bond ?..
Still have good reputation and performance ?
Going Mars project plans..??

Maybe only Mabel 60+ and pearlblack can explains it and bragging around...

Posted by risingstar21 > 2021-12-21 11:39 | Report Abuse

auditor is giving them a help,

did something tho rather than just keep the panic up.

feel relaxed now that it will not go down to a bad place

Posted by risingstar21 > 2021-12-21 11:40 | Report Abuse

Trying something to process here, what is the correlation ya?

Posted by Depeche > Dec 21, 2021 9:39 AM | Report Abuse

Guess the Chairman realized it's really a "beyond repair mess" ... some say politics can help....Sarawak needs development, money is better channeled that way, isn't it

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

It's normal tho that big companies had something up their sleeve to save the company.

will always have a good financial status to help any issues

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

Maybe get old Ma3 to be a new Chairman can help the bad circumstances.

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

joyvest Special Branch officer was not workable.

They are trying another New Chairman who has political background in the hope of GPS would intervene ???

Posted by dimmubroker > 2021-12-21 11:45 | Report Abuse

With all these comments i dont know what to do to be honest hahah
soimetimes it seems good sometimes there are bad stuff
well i think that is normal right in every forum for every company
but it seems neutral here.
lets keep it controlled here
i have good hopes for this if not highh

Posted by neohts > 2021-12-21 11:49 | Report Abuse

Can someone going to SD factory see whether anyone is still working ?
If you all know any employees working in SD, please get some feedback ?

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

The comments in this forum are quite balanced ,Nothing is to be extreme left and nothing is extreme right..........

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

If SD really delisted. Karim better stay at home and don't go out. He will sure kena kuat kuat.

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

LadyM and PW can not explain why all these messes have happened but all they can do now is to keep faith in this Company in the gleam of hope that it could fly to the moon again someday............... when ?? no body knows even prophets cant tell.............

Posted by kamirise360 > 2021-12-21 12:00 | Report Abuse

well after all, im going to still keep it here.

pretty sure they had it under control although there are issues here and there

normal tho big companies with issues but still can manage them maybe not now but probably next year.

Posted by kamirise360 > 2021-12-21 12:01 | Report Abuse

They are trying to recover the problems there,

few decisions are made with some measurements im pretty sure

the board meeting must be tense, but these decisions are needed

Posted by risekita8 > 2021-12-21 12:04 | Report Abuse

Still a big power, no final decisions yet made. felt neutral here thjeres bad and good but i dont know which one to believe

Posted by amirf1221 > Dec 21, 2021 9:33 AM | Report Abuse

They think they have bigger power
That's why
Now will see how

Posted by risekita8 > 2021-12-21 12:05 | Report Abuse

well at least the problematics one are not here, they can recover any problem if there is any here. thats what im hoping for. good things will always hapen

Posted by wongchin > Dec 21, 2021 9:35 AM | Report Abuse

New chairman sure run fast enough...
Guess there is no hope to revive the company as the is too deep already.

Posted by kami82 > 2021-12-21 12:08 | Report Abuse

agree to the previous comments im not sure from who.
at least they keep us updated rather than keeping it silence
green green green
holding
I hope that this week theres any good news

Posted by kami82 > 2021-12-21 12:09 | Report Abuse

had a good experience here, not to brag but all predictions are met based. comments are either good or bad. but heard that the news are going great, reconstructing for a better future of this company

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

SD will put the pressure on the New Chairman to address the teething issues.

If New Chairman is not workable , changes will be made again and again like a show of circus where bunch of jokers and clowns walking around and around..........

Maybe they can look for ex-PM to address the issues self-created by SD ......

Posted by Prudentinv > 2021-12-21 13:01 | Report Abuse

I also disagree with your post.

I try to recall the chronological of event happen.
1) KPMG red flag direct to independent director.
2) KPMG try to sack KPMG but independent director disagreed.
3) Serba sue KPMG, then independent director resign to protest.
4) Serba appoint EY consultant s/b base on condition, To me it is very likely this EY is recommended by Bursa.
5) So what is suspicious here some one must ensure this red flag tally. But not signed and is still incomplete audit.
Why got red flag problem need to go direct to independent director? This is not normal as they are Serba auditor for so many years. Highly suspicious of things happening under the curtain of accounting issue.
What were those independent directors up to?

Just sharing. This is food for thought.


InsiderShark @Prudentinv

Unconfirmed red flag causes serba problem now? If 1 audit firm says so, maybe,but both KPMG and EY?

We all know via court filling EY has the same conclusion as KPMG. Stop living in denial. Serba cooked the books and KPMG caught them doing so, then EY confirm it.

I can tell you Nexia will not sign the AR and Nexia will probably confirm EY and KPMG's finding too. Then how?

Posted by Prudentinv > 2021-12-21 13:02 | Report Abuse

Sorry it is Serba

Posted by Prudentinv > 2021-12-21 13:06 | Report Abuse

Again KPMG only raise red flag. Did they sign any document to confirm?

Posted by SinGor > 2021-12-21 13:06 | Report Abuse

Only 30days, Chairman resigned. Usually in 30 days, Chairman doesnT know which Door to
Toilet, or Where is the Meeting Room...He resigned for what? He was Not even in One meeting...
Obviously "they" use his name to see whether the pressure against SB can be reduced or Not.

Posted by leno > 2021-12-21 13:09 | Report Abuse

First event : Karim do FRAUD accounting

to cheat bank money and to cheat bond holders money
also use to steal money thru PP raising

kpmg found out
kpmg report to bursa that sebak do fraud accounting
bursa and sc RAID sebak

5 independent directors resign immediately
including 1 newly come in straight away resign

kwsp cabut lari
kwap cabut lari

Sebak appoint CROOK lawyer
Sebak new chairman TIPU in press conference

Sebak refuse to do SIR
Bursa force sebak to do SIR

EY confirmed sd do Fraud accounting
bursa agree and suspend sebak
another 2 independent cabut lari
refuse to release report

sebak refuse to announce default on coupon
bursa ask sebak already pay coupon or not
sebak announce did not receive default notice

bursa ask sebak ALREADY PAY COUPON OR NOT
sebak finally announce did not pay coupon and defaulted the bond

sebak self announce PN17
sebak declared don't know current financial

***********************************************************
2 more Independent Directors RESIGN yesterday
make it a total of 9 in less than 5 months (new bursa record)

Posted by joyvest > 2021-12-21 13:24 | Report Abuse

Prudent is imprudent

KPMG has been very kind enough to SD in consultation with them to give them a chance, maybe more than once, to rectify the questionable transactions detected during the course of KPNG statutory audit but SD was lackadaisical and indifferent to deal with them.

KPMG could have qualified the audit report straightaway without consultation with SD but they didn't choose to do so.

Who gave away the chance?? Not KPMG or anybody else but SD themselves.....

Posted by Prudentinv > 2021-12-21 13:33 | Report Abuse

Prudent analyse event pakai logic not buta buta follow. Ha ha.

Who is kinder, pls judge.


joy est Prudent is imprudent

KPMG has been very kind enough to SD in consultation with them to give them a chance, maybe more than once, to rectify the questionable transactions detected during the course of KPNG statutory audit but SD was lackadaisical and indifferent to deal with them.

KPMG could have qualified the audit report straightaway without consultation with SD but they didn't choose to do so.

Posted by InsiderShark > 2021-12-21 13:37 | Report Abuse

@joyvest

Exactly. There is a reason why the year end was changed to June 2021 from Dec 2020, this is because KPMG refuses to sign unless SD rectify the problem. And when did this thing started? If I am not mistaken, KPMG inform them around Sep or Oct 2020 that something is not right, thus they've been given many months to admit the mistake and rectify it, but SD refuses to do so.

Now that EY has completed the SIR and come to the same conclusion, all we need to do is to wait for Nexis not wanting to sign the AR and also come to the same conclusion. 3 Audit firm having the same opinion means SD cooked the books. Those that are blind really need to see a brain doctor.

Posted by TryMakeGoodBuy > 2021-12-21 13:38 | Report Abuse

It is ok.
you can continue to dream all is going to be ok.

Every few days got more and more bad news.

SD will not be able to survive this

.........................................................................................................................
Posted by kamirise360 > Dec 21, 2021 12:00 PM | Report Abuse

well after all, im going to still keep it here.

pretty sure they had it under control although there are issues here and there

normal tho big companies with issues but still can manage them maybe not now but probably next year.

Posted by InsiderShark > 2021-12-21 13:39 | Report Abuse

@Prudentinv

Congratulation, you've brainwashed yourself. 9 more days and you will know Nexis will refuses to sign the AR too. Why? Without the SIR, Nexis will not sign knowing KPMG and EY come to the same conclusion.

Posted by alenac > 2021-12-21 13:42 | Report Abuse

But still many did not get it. The later batches of independent directors must be impartial and not side with management but all do not know their role. So good riddance.

2 more Independent Directors RESIGN yesterday
make it a total of 9 in less than 5 months (new bursa record)

Posted by 8899EL8899 > 2021-12-21 13:43 | Report Abuse

real messy thing happening in serba,.....all want their money back,........i don`t think karim can handle this crisis,........he will walk the back door out,........really sad!

Posted by alenac > 2021-12-21 13:45 | Report Abuse

Not a surprise Nexia will be sacked too as the shop lot Chairman has left. Heard, Nexia was introduced by the chairman.

Posted by InsiderShark > Dec 21, 2021 1:39 PM | Report Abuse

@Prudentinv

Congratulation, you've brainwashed yourself. 9 more days and you will know Nexis will refuses to sign the AR too. Why? Without the SIR, Nexis will not sign knowing KPMG and EY come to the same conclusion.

Posted by Mabel > 2021-12-21 13:47 | Report Abuse

#TryMakeGoodBuy Aduh!!!

What happened to all the promoters???

Ms Meow has gone for long sleep? RIP?

21/12/2021 11:37 AM

#superrr Bond defaulted

Still have good reputation and performance ?
Going Mars project plans..??

Maybe only Mabel 60+ and pearlblack can explains it and bragging around...
21/12/2021 11:38 AM

Haha my Poor Babies..Rindu ke?

Mabel has been busy helping the floods victims (made 4 Donation to 4 NGOs to help the Victims), thanks to Mabel Plantations which is so Green and Lovely..

Mabel's remaining stake in Serba is the untouch Virgin 2019 Bonus Issues Serba Free Warrants which will expires in Dec 2024 plus some small holding of mother. So Mabel can afford to Goyang Kaki. No more competition with Dato Karim Mah...2-3 years from today, many will thanks us...trust me..Just follow i3 Target Price and you will be fine..

Plantation is still an options to those that are brave, courageous and adventurous. Mabel loves ice cream that comes with different flavour. Today Mabel can lick Vanila ice cream lah, Tomorrow can lick Chocolate lah, day after Strawberry la, day after Mango la, day after Lime la, day after orange la and so on. Why put a limit on yourself?

With Indonesia, our Main Competitor of Palm Oil out of the game due to ESG Compliance, Malaysia WILL RISE UP AS WORLD NUMBER ONE EXPORTER to feed 8 billion people across the planet. As Indonesia consume more palm oil for itself and sells refined palm products rather than CPO. Mabel think oil palm plantation will still be laughing to the banks next year. Mind you that most big time CPO traders expect CPO to trade above $5,000 during Jan-Mac 2022 and between $4,000 to $5,000 during Apr-Dec 2022.

Cost of production (at estate level) during recent years (2017-2020) were $1,500 -$1,800 pmt CPO depending on the cost efficiency of each planter.

Average CPO price over same period (2017-2020) was about $2,490 pmt as shown in the calculation below :
2017 $2,800
2018 $2,150
2019 $2,250
2020 $2,760
-----------------
Avg $2,490
=================

Therefore, average Gross Margin in past recent years enjoyed by planters were $990 to $690 pmt CPO. (ie average CPO price $2,490 minus cost of production $1,500 to $1,800).

Due to higher labour and fertilizer costs, the cost of production is expected to increase by max. $300 pmt CPO basis. The new cost of production for 2022 shall be $1,800 -$2,100 pmt CPO.
Based on 2022's CPO price forecasted by big time CPO traders averaging $4,500 , the Gross Margin of the planters will be $2,700 to 2,400 pmt CPO.

2022's Gross Margin is 2.7 times to 3.5 times higher than the average of 2017-2020.

Here is a little known secret of palm oil. Indonesia now producing high quality SUGAR from palm oil. Presiden Jokowi just launched the first factory producing sugar from palm oil

https://www.youtube.com/watch?v=rPZYj0HE6VI.

If you look at the whole Malaysian stock market is bearish. The buying supports from retail and foreign is simply too weak to absorb local institutions non-stop selling. That explain why many companies reporting good earnings cannot spark share price rally. It’s not about bearish mode for plantations in particular, it’s about the whole market. The strong fundamentals of plantation cannot be denied...

Today Mabel BioFuel KLK, Wilmar, Bumitama Agri, Sime Darby Plantation, SOP, TaaNN, FGV and Jtiasa continue to climb while the rest no change in price and some with taking profits...

Burp...Excuse me...

To Our Success !

Mabel the Farmeow


Stock: [SOP]: SARAWAK OIL PALMS BHD

Dec 21, 2021 1:18 PM | Report Abuse

#calvintaneng SOP got Rm760 Million in Cash or more than Rm1.00
19/12/2021 11:21 PM

Absolutely Calvin Dear..

For this quarter

Harta give 35.20 sen Dividend..
MPI give 10 sen Dividend
SOP - 4 sen Dividend
TaAnn -20 sen Dividend
PCHEM - 10 sen Dividend
KLCC - 6 sen Dividend
Inari - 2.8 sen Dividend
KLK - 80 sen Dividend

As you forecasted, Plantation now has overtaken Gloves as a good sources in Mabel's collection of Defensive Stocks..

Now all Palm Oil Companies are flushed with CASH.

To Our Success !

Meow Meow Meow

Posted by Prudentinv > 2021-12-21 13:48 | Report Abuse

Ok, let's wait and see.


InsiderShark @Prudentinv

Congratulation, you've brainwashed yourself. 9 more days and you will know Nexis will refuses to sign the AR too. Why? Without the SIR, Nexis will not sign knowing KPMG and EY come to the same conclusion.

Posted by NatsukoMishima > 2021-12-21 13:51 | Report Abuse

All the greedy deserve the capital loss while falling love with a soon delisting stock !

Posted by i3lurker > 2021-12-21 13:56 | Report Abuse

Delisting Countdown to start on 01/01/2022

This delisting is a ratchet mechanism, a runaway train wreck no one can stop.

after delisting is the Countdown to Liquidation, even Serba signboards will be auctioned off....

Lady Ramunia, 100% Guaranteed Bankruptcy............

Posted by leno > 2021-12-21 13:58 | Report Abuse

#
#TutupKedai
#TangkapKarim

Posted by Prudentinv > 2021-12-21 14:08 | Report Abuse

The most unusual thing happen is that auditor reporting direct to independent directors. Here there are obvious 2 fractions.

Posted by 8899EL8899 > 2021-12-21 14:12 | Report Abuse

the only way you can recover your losses ,.......catch karim children,..........ask karim to fix serba problem,...........

Posted by Prudentinv > 2021-12-21 14:17 | Report Abuse

Serba Dinamik unsure why KPMG raises audit issues now
Serba Dinamik also reiterated that it had not changed its operations in a material way, aside from how the company “took on new customers across a few countries in FY20".

“Of course as part of our audit procedures, KPMG will always ask questions with regard to transactions and balances,” said Syed Nazim.

Abdul Karim, meanwhile, commented that the approach KPMG took this year “was a bit different” from previously.

“Some of these [questions] go back to the due diligence that we did before we got the approval for the IPO (initial public offering in 2017).”

Posted by Prudentinv > 2021-12-21 14:18 | Report Abuse

Why KPMG took the audit approach differently this year?

Posted by TryMakeGoodBuy > 2021-12-21 14:24 | Report Abuse

do you know what you are writing.

KPMG discovered something is not right.
OBVIOUSLY must be documented and presented to Independent Directors.
You mean you find something not right and report it to the one who committed the fraud. wake up.
Do you know the role of independent directors?

Isn't all this arose due to some accounting irregularities?
Did SD not try to suppress disclosure by KPMG and EY?


.........................................................................................................................
osted by Prudentinv > Dec 21, 2021 1:01 PM | Report Abuse

I also disagree with your post.

I try to recall the chronological of event happen.
1) KPMG red flag direct to independent director.
2) KPMG try to sack KPMG but independent director disagreed.
3) Serba sue KPMG, then independent director resign to protest.
4) Serba appoint EY consultant s/b base on condition, To me it is very likely this EY is recommended by Bursa.
5) So what is suspicious here some one must ensure this red flag tally. But not signed and is still incomplete audit.
Why got red flag problem need to go direct to independent director? This is not normal as they are Serba auditor for so many years. Highly suspicious of things happening under the curtain of accounting issue.
What were those independent directors up to?

Just sharing. This is food for thought.