Posted by TryMakeGoodBuy > 2021-12-21 19:28 | Report Abuse

Haha

My company awarded RM1 billion contract to SD also.
Small boy talk.
No see announce at all!!!


.........................................................................
Prudentinv If delisting soon, project still award? Sound logical?
21/12/2021 6:35 PM

Posted by i3lurker > 2021-12-21 19:32 | Report Abuse

Zhou Gong told me he awarded RM2,000 Billion contract to Serba too.

unfortunately it must be kept a secret.

Posted by zoizai > 2021-12-21 19:33 |

Post removed.Why?

Posted by TryMakeGoodBuy > 2021-12-21 19:40 | Report Abuse

i3lurker

Sorry.
You are wrong.
They got billion of contract awarded by cleaner company in Dubai.

Give you a related company contract then later as usual will be cancelled.

hahahaha


.............................................................................................................................................
i3lurker Zhou Gong told me he awarded RM2,000 Billion contract to Serba too.

unfortunately it must be kept a secret.
21/12/2021 7:32 PM

Posted by i3lurker > 2021-12-21 19:47 | Report Abuse

correct correct correct

Zhou Gong told me this is even better

this RM2,000 Billion contract is given by the toilet cleaner punya third cousin thrice removed who works as a part time assistant to the assistant deputy rubbish collector paid hourly...

No cleaning company is involved.


Posted by TryMakeGoodBuy > Dec 21, 2021 7:40 PM | Report Abuse

i3lurker

Sorry.
You are wrong.
They got billion of contract awarded by cleaner company in Dubai.

Give you a related company contract then later as usual will be cancelled.

hahahaha


.............................................................................................................................................
i3lurker Zhou Gong told me he awarded RM2,000 Billion contract to Serba too.

unfortunately it must be kept a secret.
21/12/2021 7:32 PM

Posted by TryMakeGoodBuy > 2021-12-21 19:47 | Report Abuse

i3lurker

Shhhhhh

You are wrong.
Got a trillion dollar contract from cleaner company from Dubai.

Not sure will cancel or not as it is SD BAU style.
If cancelled will past to
Prudentinv company.
Please do not disclose otherwise SD share price will go up.
Also Prudentinv auditor very pro business and will report to CEO and will not delay AR.
hahahaha

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

i3lurker Zhou Gong told me he awarded RM2,000 Billion contract to Serba too.

unfortunately it must be kept a secret.
21/12/2021 7:32 PM

Posted by SHQuah > 2021-12-21 19:49 | Report Abuse

Can some one check whether SD company is still operating as usual. Any employee got lay off or retrenched ?

Posted by DickyMee > 2021-12-21 20:53 | Report Abuse

Better to check SD got how many employees actually working in Middle East


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

SHQuah Can some one check whether SD company is still operating as usual. Any employee got lay off or retrenched ?
21/12/2021 7:49 PM

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

SD HQ is still operating as usual but I don't know about its subs.

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

I heard operation as normal.

Posted by leno > 2021-12-21 21:54 | Report Abuse

some promoter say auditor is not supposed to report fraud accounting to independent directors
must only report to karim who do the fraud accounting
WoW ... AMAZING.

Posted by Prudentinv > 2021-12-21 22:08 | Report Abuse

A counter with ownership of 41 percent Insider, 25 percent institution, 4.4 percent of state government. You tell me this counter will delist. Ikan bilis only hold 28 percent.

And worse your arguement that Ceo manage to con 30 percent of institution and state government. I am sure they knew what is going on by holding on and not selling.

Posted by leno > 2021-12-21 22:22 | Report Abuse

yup ... coming from someone who say auditor is not supposed to report fraud accounting to independent directors.
WoW ... AMAZING .

Posted by Speedrc > 2021-12-21 22:44 | Report Abuse

Any SD employeeeeeeeeee here?
Comp pay ur salary ?

Posted by superrr > 2021-12-21 23:06 | Report Abuse

WOO.. Dubai cleaner company sooo BIG ? A trillion dollar business ?...One toilet cleaning able to charge a million, very good profit.......hahaha...no wonder auditors dear not to sign it..

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

TryMakeGoodBuy i3lurker

Shhhhhh

You are wrong.
Got a trillion dollar contract from cleaner company from Dubai.

Posted by bobvic96 > 2021-12-21 23:11 | Report Abuse

Of course. Salaries paid on time and in full. Annual bonuses have been doubled, all other benefits have been trebled.

This said before any promoters get the idea to respond.

Anyone would probably be unwise to believe any response - except mine :)



Speedrc Any SD employeeeeeeeeee here?
Comp pay ur salary ?
21/12/2021 10:44 PM

Posted by superrr > 2021-12-21 23:15 | Report Abuse

Now sd need more promoters to work here//////

Posted by bobvic96 > 2021-12-21 23:31 | Report Abuse

I'm sure SD won't be able to pay them and, as a result, so may have fallen by the wayside.

Only the mentally afflicted persist.

superrr Now sd need more promoters to work here//////
21/12/2021 11:15 PM

Posted by joyvest > 2021-12-21 23:32 | Report Abuse

A cow is a cow ,a Conman is a conman

A conman hoodwinks everyone irrespective of nationality ,race ,class of investors be it institutions or otherwise .....

You have been conned but you deny you have not been conned. Sorry to say that all u can do now is to prepare for the worse and hope for the best.

How best can you hope for? U just hope your shares could be redeemed upon delisting .But to be redeemed at what price.?........I would say at their mercy.....

Posted by Prudentinv > 2021-12-22 00:08 | Report Abuse

The captain of the ship will abandon the ship before everybody else if fake accounting issue lah. He still have more than 20 percent. Pls use logic for please.

Posted by Prudentinv > 2021-12-22 00:20 | Report Abuse

The real conman will be reveal during court case. Be patience.



joyvest A cow is a cow ,a Conman is a conman

A conman hoodwinks everyone irrespective of nationality ,race ,class of investors be it institutions or otherwise .....

You have been conned but you deny you have not been conned. Sorry to say that all u can do now is to prepare for the worse and hope for the best.

How best can you hope for? U just hope your shares could be redeemed upon delisting .But to be redeemed at what price.?........I would say at their mercy.....

Posted by InterFund® > 2021-12-22 00:29 |

Post removed.Why?

Posted by Prudentinv > 2021-12-22 00:37 | Report Abuse

Serba sues KPMG for alleged negligence, breaching duties.

Posted by shareinvestor888 > 2021-12-22 05:55 |

Post removed.Why?

Posted by Prudentinv > 2021-12-22 07:14 | Report Abuse

Covid-19 relief measures help Serba Dinamik avoid PN17 status

Posted by ǷearlꙌhite > 2021-12-22 08:27 | Report Abuse

.
From the desk of Serba Dinamik’s Shareholders To Theedgemarkets.com - Clarification on the Articles appearing in Theedgemarkets.com Website
By Pearlwhite 20th December 2021 9.48PM

To Theedgemarkets.com

We refer to the articles appearing in theedgemarkets.com website on 6th December 2021 and 20th December 2021.

In this respect, kindly make an immediate announcement to the differences in the amount of alleged questionable transactions worth over RM4.5 billion versus RM1.438 billion, and any development thereof.

Yours faithfully

Serba Dinamik Shareholders

c.c.: Bursa Malaysia Securities Berhad Listing Department
Bursa Malaysia Securities Berhad Regulation Department
Market Surveillance Dept., Securities Commission Malaysia

“Serba Dinamik’s chairman, independent director quit claiming 'biased regulatory prosecution' towards group”

https://www.theedgemarkets.com/article/serba-dinamiks-chairman-independent-director-quit-claiming-biased-regulatory-prosecution

"Trading in the shares of Serba Dinamik has been suspended since Oct 22, after it failed to disclose the findings of a special independent review undertaken by Ernst & Young Consulting Sdn Bhd (EY Consulting) about an audit issue flagged by its then external auditor KPMG in May about some allegedly questionable transactions worth over RM4.5 billion."

"Bursa’s suit sheds more light on Serba Dinamik’s financials"

https://www.theedgemarkets.com/article/bursas-suit-sheds-more-light-serba-dinamiks-financials

"EY Consulting’s findings update recorded in the court documents highlight the same concerns that KPMG had over the company’s transactions. The court documents 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."

* In respect of the article, it is recommended that you consult with a Certified Accountant/Chartered Accountant/Chartered Internal Auditor, Chief Financial Officer, Legal Counsel and/or Tax Advisor for advice concerning the article.

It is not recommend that consultations be made with Certified Financial Analyst, Brokers, Traders and/or MBA/MA Finance Graduates as they are deemed not to have the necessary competency and skills to evaluate and advise on such matters discussed in the article.
.

Posted by alenac > 2021-12-22 09:02 | Report Abuse

Good morning, canned sardines.

Apa lagi kacang putih mau?

Posted by Huangbk72 > 2021-12-22 09:09 | Report Abuse

This Kacang Putih doesn’t know basic accounting

KPMG refers to transactions

EY refers to financial impact

Tau Tak debit and credit cancels each other ??

Hahhahaha

Keep posting nonsense, gives us all a good laugh

Posted by neohts > 2021-12-22 09:10 | Report Abuse

PearlWhite.....we just interested to know when Annual Report could be submitted and when SD could start trading ?

Posted by ǷearlꙌhite > 2021-12-22 09:19 | Report Abuse

.
Dear all,

Our effort to the truth is getting closer. Thanks to some of the articles posted in my commentary, the media has been cornered.

For the past 6 months, the media had tried to prevent the real facts and developments to the issue from being reported. They have been selectively "framing" the titles and highlighting the issues with inconsistent and questionable facts. In addition, their articles are full of "emotional pulls" which are irrelevant to the issue.

Any progress made to the case, which usually comes to a 50 worded paragraph, is always supplemented with 1000 worded paragraphs of what is already publicly known.

The media had intentionally and maliciously hidden the information in my articles from the public.

With the articles in my commentary, you would have been able to see the developments of the issues, what was resolved and what is still pending completion.

You would have been able to ascertain the quantum amounts (resolved and uncompleted). You would also be able to discern what the uncompleted issues consist of, what audit techniques will be used to resolve them and to what extend that they can be reasonably resolved.

The media has always engaged in a game of perception, a trial by media. The media is so desparate to resolve this issue now that they had the audacity to advise Bursa Malaysia to break its own rules.

Let’s wait for what is to be disclosed month end and for court proceedings to begin next year. In the meantime, the media's misinformation rhetoric would continue.

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

Posted by i3lurker > 2021-12-22 09:34 | Report Abuse

Miskin people have different logic, its call Death "Miskin" Logic

If Serba is holding KPMG painful leg,
Serba will immediately commission 3 Global audit firms
(audit fee 5 million each, total 15 million also ok money no object) to do audit
and then sue KPMG for RM3 Billion.

totally no need to be so scared,
must hide here
and
hide there,
here a hide,
there a hide
and
everywhere a hide.
hide
hide
hide





shareinvestor888 The Root of the problem is well described by @m3379 as below,


Posted by @m3379
If KPMG was wrong on the RM3.5 bil, SD would be pleased to assign independent reviewer. Should not be agitated and went rampant on lawsuits.
20/12/2021 7:32 PM

If miskin SD promoters still cannot understand, this explains why so many sampahh postings by the promoters.
22/12/2021 5:56 AM

Posted by alenac > 2021-12-22 09:37 | Report Abuse

Could be this way too.

Dear all,

Our effort to the truth is getting closer. Thanks to some of the articles posted by the media. Serba Dinamik Holdings Bhd has been cornered.

For the past 6 months, Serba Dinamik Holdings Bhd had tried to prevent the real facts and developments to the issue from being reported. They have been selectively taking legal actions against relevant parties in particular Bursa and EY from highlighting the issues and preventing the disclosure of Special independent Report update.

Serba Dinamik Holdings Bhd had intentionally and maliciously attempted to mislead the minority shareholders, by appointing not so independent directors (IDs), where all had to resign due to their breach of fiduciary duty as IDs and out of fear of persecution by the regulators and relevant authorities.

Posted by i3lurker > 2021-12-22 09:43 | Report Abuse

I believe pearlblack, Dishonesty, Riskyinv, conpipi and mine worker are all people with primary school education .......

Thats why they have totally no idea that both External and Internal auditors report to the Independent Directors and not to Management

Posted by ǷearlꙌhite > 2021-12-22 09:47 | Report Abuse

.
New article coming up soon. I am thinking of a title.

"Why EY will not be able to conclude Serba Dinamik's Special Independent Review"

"Why Bursa cannot accept EY's Special Independent Review conclusions of Serba Dinamik".

Maybe some of you here can help with a good title.

Thanks.

p.s. The paragraphs below will be rephrased to easy read.
===============================


Do you know what in-conclusive means? So I will give 2 simple examples what in-conclusive means.

1) Trade debtors/Trade Creditors (work done)
The amounts owing by to debtors or amounts owing to creditors are questionable because the customer/vendor didn't respond to confirmation of balances, or office cannot be found. Work performed also cannot be verified.

Evidence for EY.
They did manage to get confirmation and been able to visit the office. They also managed to see payments to and from SD to these customers and vendors respectively for work done. All paperwork check out.

The work done is a little hard to be verified (this will also go into example 2), either what you see is the finish product or WIP. The materials and labour may have been used in the process of construction, hence cannot see the stock. The counter check for this is to review the weekly project reports and all the other inventory and work records, delivery and receipt documents to confirm. It is a monumental task. Sample test on material items is the way, but as always not all can be traced.

2) Assets/Stock
The assets type, location cannot be verified.

Evidence for EY.
The assets/stock may have been part of the construction. Visible items like gensets, topside equipment can be tracked easily. However, some items like piping cannot be traced accurately as they have used in the construction and not so visible. In addition, machinery can be in different locations then and now.

What is of concern is, are the assets being sighted now (wherever possible) the same ones highlighted by KPMG? Of course, can do documentation verification, review delivery/receipt logs etc for material items, but there are some that cannot be traced since it is not visible now, either lost or junked.

Based on this 2 example, there is a reasonable assumption that it confirms that there are no issues. However, the small % (immaterial) cannot be verified simply because it has been consumed or lost in the process of execution the work.

Hence, prudently, the conclusion is in-conclusive.

In-conclusive because the timing difference (between May and October) means that there is a small % issues for trade debtors/trade creditors (work done) and Assets/Stocks as highlighted by KPMG, cannot be verified. What can be verified are the big ticket items.
.

Posted by youtheman > 2021-12-22 09:52 | Report Abuse

i like your phase 'sit back and goyang kaki' really made my day thanks meow

Posted by Huangbk72 > 2021-12-22 09:52 | Report Abuse

Hahahahaha

Posted by stockraider > 2021-12-22 09:54 | Report Abuse

U see for EY now...it is suspicious approach, since Kpmg already alerted everybody on Serba loh!

It is wrong unless proven right mah!

Thus if u read the explanation & evidence given it is not proven right- Thus it is WRONG mah!


Posted by ǷearlꙌhite > Dec 22, 2021 9:47 AM | Report Abuse

.
New article coming up soon. I am thinking of a title.

"Why EY will not be able to conclude Serba Dinamik's Special Independent Review"

"Why Bursa cannot accept EY's Special Independent Review conclusions of Serba Dinamik".

Maybe some of you here can help with a good title.

Thanks.

p.s. The paragraphs below will be rephrased to easy read.
===============================


Do you know what in-conclusive means? So I will give 2 simple examples what in-conclusive means.

1) Trade debtors/Trade Creditors (work done)
The amounts owing by to debtors or amounts owing to creditors are questionable because the customer/vendor didn't respond to confirmation of balances, or office cannot be found. Work performed also cannot be verified.

Evidence for EY.
They did manage to get confirmation and been able to visit the office. They also managed to see payments to and from SD to these customers and vendors respectively for work done. All paperwork check out.

The work done is a little hard to be verified (this will also go into example 2), either what you see is the finish product or WIP. The materials and labour may have been used in the process of construction, hence cannot see the stock. The counter check for this is to review the weekly project reports and all the other inventory and work records, delivery and receipt documents to confirm. It is a monumental task. Sample test on material items is the way, but as always not all can be traced.

2) Assets/Stock
The assets type, location cannot be verified.

Evidence for EY.
The assets/stock may have been part of the construction. Visible items like gensets, topside equipment can be tracked easily. However, some items like piping cannot be traced accurately as they have used in the construction and not so visible. In addition, machinery can be in different locations then and now.

What is of concern is, are the assets being sighted now (wherever possible) the same ones highlighted by KPMG? Of course, can do documentation verification, review delivery/receipt logs etc for material items, but there are some that cannot be traced since it is not visible now, either lost or junked.

Based on this 2 example, there is a reasonable assumption that it confirms that there are no issues. However, the small % (immaterial) cannot be verified simply because it has been consumed or lost in the process of execution the work.

Hence, prudently, the conclusion is in-conclusive.

In-conclusive because the timing difference (between May and October) means that there is a small % issues for trade debtors/trade creditors (work done) and Assets/Stocks as highlighted by KPMG, cannot be verified. What can be verified are the big ticket items.
.

Posted by alenac > 2021-12-22 09:57 | Report Abuse

Kacang Putih, actually the issue in the SIR has been superseded by bond default by Serbak. Nothing can amend and put Humpty Dumpty back to its original position after the great fall.

Posted by stockraider > 2021-12-22 09:58 | Report Abuse

Memang betul loh!

Bond default is the death blow loh!

Posted by alenac > Dec 22, 2021 9:57 AM | Report Abuse

Kacang Putih, actually the issue in the SIR has been superseded by bond default by Serbak. Nothing can amend and put Humpty Dumpty back to its original position after the great fall.

Posted by ǷearlꙌhite > 2021-12-22 10:13 | Report Abuse

.@sslee
I am sorry about your experience with Xinqguan.

Actually, from experience dealing with China companies (or specifically Communist/Ex-communist countries including Juntas) when it come to share investing, I usually do not participate.

Reason is, due to different belief in legal systems and values, these companies may not share the same level of standards and expectations that we uphold. To them, sometimes they don't take it seriously and what is acceptable in their country, does not mean its acceptable elsewhere, which they tend to forget.

I would participate in a company unless it comes from country that shares similar Commonwealth legal systems and values, a USA or EU company where I can navigate the legal and financial systems with ease and dealing with them is easier as we have some common belief system.

I know that retail investors feel isolated and cut-off from the corporate world and what information that they don't get is very stressful.

Which is why for SD's case for example, (as I am also from the O&G industry), I utilise my industry contacts, talk to Petronas, talk to SD's vendors etc to find out what is going on.

Over the years, I have also made close acquaintances with Bursa Malaysia and Securities Commission head of divisions and their teams and I can gather information from them.

I also talk to the financial institutions and financiers.

On the other hand, I also talk to the media and the blogger sphere. I have spoken to Jose Barrock's "mentor" for example to discuss SD.

In short, getting information and navigating the issues is more than participating in forums and joining chat groups. One has to utilise all available resources at hand to get to the real information.

And I know not everyone has these resources, which is why I am sharing them in the forum and/or in my commentaries.

@sslee
Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD
Dec 21, 2021 9:28 AM

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 alenac > 2021-12-22 10:17 | Report Abuse

Since you are so well connected can you share what these guys told you? Is the information reliable? Why Serbak chooses to default on its bonds when Chef has always maintained it has been business as usual since the KPMG trouble started and more multi-million projects they have acquired since then?


Kacang putih:

Which is why for SD's case for example, (as I am also from the O&G industry), I utilise my industry contacts, talk to Petronas, talk to SD's vendors etc to find out what is going on.

Posted by AlsvinChangan > 2021-12-22 10:18 | Report Abuse

Xinqguan case is solely incompetant external auditor

Make worse by SC BURSA makan tidor goyang telor

Posted by hijau belalang > 2021-12-22 10:22 | Report Abuse

hello
any update?

Posted by hijau belalang > 2021-12-22 10:22 | Report Abuse

looking for any possibility
striving
be better

Posted by hijau belalang > 2021-12-22 10:23 | Report Abuse

would love to see any development
will it be another drama?
hopeful for the best

Posted by superrr > 2021-12-22 10:25 | Report Abuse

This clearly shows : Bonds defaulted = Bankers has umbrella retracted, no $ to pay.

Posted by hijau belalang > 2021-12-22 10:26 | Report Abuse

must do better
how long will have to wait?

Posted by hijau belalang > 2021-12-22 10:27 | Report Abuse

concern is if delay again
the usual one
might affect directly

Posted by wgvj1723 > 2021-12-22 10:27 | Report Abuse

When the trading suspension wii be lifted? Any update please. Tq

Posted by superrr > 2021-12-22 10:29 | Report Abuse

Announced a lot of projects but no $ to process, Bragging to make public confident...