Posted by PSAi3alert > 2021-12-30 11:34 | Report Abuse

Errr.... there's over RM200M outstanding loan in Karim's margin account.

Can he use the money in the suppliers' accounts (say from Kekal Jitu Sdn Bhd that has only one employee, who confirmed that she was the administrative executive of the company and had just joined the company on March 1, 2021)?


Loan outstanding
28/06/2021 RM280,000,000 - 46,300,000 x 0.3625 = RM263,216,250
29/06/2021 RM263,216,250 - 61,707,000 x 0.3525 = RM241,464,532
29/06/2021 RM241,464,532 - 95,000,000 x 0.3525 = RM207,977,032
30/06/2021 RM207,977,032 - 10,178,200 x 0.3275 = RM204,643,671
01/07/2021 RM204,643,671 - 22,000,000 x 0.3800 = RM196,283,671
12/07/2021 RM196,283,671 + 10,000,000 x 0.4688 = RM200,971,671
12/07/2021 RM200,971,671 + 5,000,000 x 0.3275 = RM202,609,171
12/07/2021 RM202,609,171 + 2,500,000 x 0.3125 = RM203,390,421
12/07/2021 RM203,390,421 + 1,000,000 x 0.3475 = RM203,737,921

Shares movement
28/06/2021 1,004,061,570 - 46,300,000 = 957,761,570 (0.3625 avg high low)
29/06/2021 957,761,570 - 61,707,000 = 896,054,570 (0.3525 avg high low)
29/06/2021 896,054,570 - 95,000,000 = 801,054,570 (0.3525 avg high low)
30/06/2021 801,054,570 - 10,178,200 = 790,876,370 (0.3275 avg high low)
01/07/2021 790,876,370 - 22,000,000 = 768,876,370 (0.3800 avg high low)
12/07/2021 768,876,370 + 10,000,000 = 778,876,370 (0.4688 avg purchase)
30/09/2021 778,876,370 + 5,000,000 = 783,876,370 (0.3275 avg high low)
01/10/2021 783,876,370 + 2,500,000 = 786,376,370 (0.3125 avg high low)
22/10/2021 786,376,370 + 1,000,000 = 787,376,370 (0.3475 avg high low)

Posted by Mikecyc > 2021-12-30 11:35 |

Post removed.Why?

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

Habis...platinum member all kena kau kau this time.

Posted by PSAi3alert > 2021-12-30 11:49 | Report Abuse

shareinvestor888,

Money would have gone out through suppliers accounts.

It will be a Greek tragedy If the money was used to fund Karim's personal share purchases in Serba.


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

"Under the second scope of EY Consulting’s findings for the SIR, in respect of the concerns raised by KPMG regarding six identified local suppliers, EY Consulting similarly raised concerns on the veracity of the transactions with the six, stated the court documents. The recorded transactions and other amounts were found to be more than RM638 million."


shareinvestor888 IF SC managed to show conclusive proofs that Serba did falsify as alleged in the charges, Then Next Big Question is Where did the Bank loans & Bonds Proceeds go to?

Who would then investigate Serbak’s Ceo & management on where the money from bonds & bank loans went to? Or impossible to investigate?
30/12/2021 11:31 AM

Posted by 433tikitaka > 2021-12-30 11:57 |

Post removed.Why?

Posted by PSAi3alert > 2021-12-30 12:10 | Report Abuse

The projects are fake. Real money was taken out.

i3lurker will be the best person to explain how the "Circle Fraud" took place.


--

KPMG was unable to ascertain the existence of the suppliers in question as well as the appropriateness of the purchases made during the year.

In its findings, company searches on Serba Dinamik’s local suppliers raised several common red flags. Two of the suppliers had the same incorporation date of April 23, 2019, while five suppliers with a paid-up capital of RM100,000 have the same registered office.

What is more concerning is that KPMG noted that each supplier was owned by an individual shareholder with transactions ranging between RM60 million and RM96 million.

The two suppliers that were incorporated on the same date also share the same business address. However, when the auditors paid a visit to determine the physical existence of the suppliers, they were unable to locate the suppliers at both their business and registered addresses.

---

shareinvestor888 Noted @PSAi3alert…. If suppliers were paid, then need to investigate where were the paid supplies? Were the suppliers ‘ goods used for the projects?
Was Serbak paid for projects completed?

If yes, why SC alleged false statements? So many questions need to be answered by Serbak…
30/12/2021 11:54 AM

Posted by krish52 > 2021-12-30 12:11 | Report Abuse

the investors lost almost everything. another 1mdb saga in making. the lawyers will make all their wits to save the culprits. i hope karma to work on their entire family of the culprits and the people who try to save these people forgetting the poor investors.

Posted by i3lurker > 2021-12-30 12:12 | Report Abuse

assuming BURSA gives notice on 03/01/2022

from 03/01/2022 to 30/06/2023 Serba shares will remain suspended

Serba could be delisted around 30/06/2023 subject to appeals and approval of appeals etc etc

Posted by Wirajati > 2021-12-30 12:13 | Report Abuse

Shareinvestor888,

Noted @PSAi3alert…. If suppliers were paid, then need to investigate where were the paid supplies? Were the suppliers ‘ goods used for the projects?
Was Serbak paid for projects completed?

If yes, why SC alleged false statements? So many questions
________

As mentioned by the promoter armadalucky, ask these questions at AGM? So when will be the AGM? Who knows?

Posted by InsiderShark > 2021-12-30 12:13 | Report Abuse

hundred of millions send to middle east every quarter.... send to whom and what if those projects are fake. where are the monies?

Posted by Investor48 > 2021-12-30 12:41 | Report Abuse

Unfortunately many bet big but open small..
Habis lo..
Cry also no use..just accept it as lesson learned..

Hehe...

Posted by Legend > 2021-12-30 12:47 | Report Abuse

Relax....lunch dulu

Posted by tianqi888 > 2021-12-30 12:49 | Report Abuse

should sell now or hold?

Posted by InsiderShark > 2021-12-30 12:51 | Report Abuse

@tianqi888

How you gonna sell? counter suspended, most probbaly will be delisted and never re-open again. 100% loss.

Posted by Dcmh > 2021-12-30 12:52 | Report Abuse

Donation to ME and not donation from ME

Posted by Mabel > 2021-12-30 12:52 |

Post removed.Why?

Posted by InsiderShark > 2021-12-30 12:53 | Report Abuse

Go to telegram group and hunt down those that told you guys to average down, got 1 guy kept showing photos of him and SCIB boss and Karim, saying everything BAU and then say something to do with red bean army... go find that guy

Posted by Dcmh > 2021-12-30 12:53 | Report Abuse

Pity the minority and no action fr the group so far

Posted by Dcmh > 2021-12-30 12:54 | Report Abuse

Sap scandal is following soon

Posted by Mabel > 2021-12-30 12:57 | Report Abuse

#maf1964 mabel should be sent to hatyai and sold in a brothel where she will end up mopping the floors.
a conwoman aor con akua
29/12/2021 11:15 PM

Haha mop1964...Welcome back from Hatyai...

How was your experience working in Hatyai brothel?

Must be jolly good sampai now confuse which room to enter....

So Funny.....

Meow

Stock: [TOPGLOV]: TOP GLOVE CORP BHD

Nov 11, 2021 9:17 AM | Report Abuse

sorry wrong site. my apolgies, i thot i was on SD webpage

Posted by investor2021trading > 2021-12-30 13:03 | Report Abuse

where r d gud governance by SC on bursa stocks reporting n integrity of accounting by listed companies in Bursa Malaysia?

Posted by MiaoMiao7 > 2021-12-30 13:06 | Report Abuse

What do you mean where is sc integrity? They already charge karim, you expect them to detect fraud the moment it starts? That is like blaming the police for future crimes.

Posted by Mikecyc > 2021-12-30 13:25 |

Post removed.Why?

Posted by joyvest > 2021-12-30 13:39 | Report Abuse

A long legal battle

Dr.K won't give in and will fight till last breath......

Now then SC has sued him in his capacity as a CEO,does it mean that SD would foot the legal bills or to be borne by Dr.K himself?

Anyone to answer the above?

Posted by xiaoeh > 2021-12-30 13:42 | Report Abuse

Posted by MiaoMiao7 > Dec 30, 2021 1:06 PM | Report Abuse

What do you mean where is sc integrity? They already charge karim, you expect them to detect fraud the moment it starts? That is like blaming the police for future crimes.

SGX take initiative check on the quarterly/annual report and will question company on any suspicious item even if accounting firm found nothing wrong

Posted by OpporturnityHunter > 2021-12-30 13:45 | Report Abuse

Karim Karim, 早知今日， 何必当初。 做任何事， 不要抱着侥幸心理。 法网恢恢， 疏而不漏。 你是华人， 你明白我写什么的。 不过， 说真的， 为时已晚， 好好在监牢忏悔吧， 这样可以减轻你的罪孽

Posted by OpporturnityHunter > 2021-12-30 13:47 | Report Abuse

再提醒你， 不是不报， 只是时辰未到。 近报眼前， 远报子孙哦

Posted by InterFund® > 2021-12-30 13:48 |

Post removed.Why?

Posted by OpporturnityHunter > 2021-12-30 13:53 | Report Abuse

@interfund, so detail keh ?

Posted by rr88 > 2021-12-30 14:00 | Report Abuse

Dont waste yr time here lah. Transmile CEO was charged in 2007 n found guilty in 2020. 13 years saga.

Write off the lost money n move on. Otherwise you wud go crazy like this mabel. All the more beautiful cover is to cover the deep sorrow n sadness inside. Its called crazy.

Posted by Superbull8798 > 2021-12-30 14:02 |

Post removed.Why?

Posted by alenac > 2021-12-30 14:06 | Report Abuse

Laundered and kept in Abu Dhabi, the world center of money laundering. Jho low style, like kept for Jibby by Price (Prince) Turkey.

Posted by InsiderShark > Dec 30, 2021 12:13 PM | Report Abuse

hundred of millions send to middle east every quarter.... send to whom and what if those projects are fake. where are the monies?

Posted by InterFund® > 2021-12-30 14:09 | Report Abuse

2030 suspension lifted................................

Posted by piranha88 > 2021-12-30 14:10 | Report Abuse

I am waiting to see those who cheated eat black bean rice

Posted by alenac > 2021-12-30 14:17 | Report Abuse

How do you know to eat BBR? Maybe already prepared to be charged and planned their exit since got at least 6 months after the issue blow up?

Posted by piranha88 > Dec 30, 2021 2:10 PM | Report Abuse

I am waiting to see those who cheated eat black bean rice

Posted by muhfiq > 2021-12-30 14:31 | Report Abuse

settle lunch
whats up
accusing people of the same thing
not good enough ah?
are you guys new here

Posted by amirf1221 > 2021-12-30 14:32 | Report Abuse

let see how it goes now... new news
dont know the final results just yet

Posted by hijau belalang > 2021-12-30 14:33 | Report Abuse

people are hating personally now huh?
why just mind your own business and get it done with
tell what you think is right
no use in blocking others

Posted by treatshijau > 2021-12-30 14:34 | Report Abuse

lets see how sc react to this
will they save it or just let it go

Posted by Faiza > 2021-12-30 14:34 | Report Abuse

some of the blogs are actually paid writers, no surprises
same as imdb

Posted by shybutter > 2021-12-30 14:35 | Report Abuse

Good afternoon everyone
how are you doing
lets start the post lunch trading with good vibes

Posted by shybutter > 2021-12-30 14:35 | Report Abuse

Happy trading everyone
lets seek for green
sell and buy at the right time
i know you guys can do it
lets gooo

Posted by Gerrardo > 2021-12-30 14:37 | Report Abuse

What is the news for today for this one
read one from other sites
whats the update for here
what is your opinion on this

Posted by Gerrardo > 2021-12-30 14:37 | Report Abuse

Will there still be a future for this one
maybe yes maybe not
lets see what happens

Posted by Riaz1954 > 2021-12-30 14:37 | Report Abuse

I wonder if Serba is a going concern? With clients and suppliers pulling out can’t see how this can be? I wonder if staff have been paid? No news on BAU activities. No one with brains would enter into any contract with this company ..unless new management is appointed.

Posted by Beautyseeker > 2021-12-30 14:38 | Report Abuse

dont curse and argue here guys
just debate with facts and figures
dont spread lies and create havoc

Posted by Beautyseeker > 2021-12-30 14:39 | Report Abuse

yeah... i wonder if there is a new management could solve this one. maybe, because they are the one who will made a good decision

Posted by Riaz1954 > Dec 30, 2021 2:37 PM | Report Abuse

I wonder if Serba is a going concern? With clients and suppliers pulling out can’t see how this can be? I wonder if staff have been paid? No news on BAU activities. No one with brains would enter into any contract with this company ..unless new management is appointed.

Posted by wolfbroker > 2021-12-30 14:40 | Report Abuse

theres still possibilites that this company could be saved
although its quite hard but there is possibilities
lets just believe

Posted by wolfbroker > 2021-12-30 14:40 | Report Abuse

what is the status of the internal management?
do they find a replacement
its good that they replaced them
so that it can be better

Posted by dianatrader > 2021-12-30 14:42 | Report Abuse

SD is a good company
quite big company operationally
but whatever it is
we need to wait for the really final decision