Posted by BobAxelrod > 2023-01-14 20:29 |

Post removed.Why?

Posted by BobAxelrod > 2023-01-14 20:34 | Report Abuse

Phoenix???? Kok Kok Kai also cannot come out!!!!

Posted by BobAxelrod > 2023-01-14 20:45 |

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Posted by 8899EL8899 > 2023-01-14 21:23 | Report Abuse

SI KARIMBABA OF SERBADK,.......

OFFER TO BUY AT 2SEN,.......

FOR THE NEXT TWO DAYS ONLY,.......

WHEN THE DOOR ARE SHUT,........

NOBODY WILL BUY IT FROM YOU ANYMORE,......

YOU CRY, YOU SHOUT ALSO USELESS,.......

BE BRAVE TO SELL,.......

CUT YOUR LOSES BEFORE TOTALLY EMPTY,.......

ONLY SI KARIMBABA WILLING TO BUY FROM YOU !.......

TO HIM, IT IS PEANUT !.......

BUAT KERJA KEBAJIKAN PELABUR,.........

HARAP ALLAH MAAFKAN KAMU !

Posted by Depeche > 2023-01-14 21:27 | Report Abuse

Talk less and read more news.... you'll know where the Phoenix crap come about.

Posted by Understand > 2023-01-14 21:38 | Report Abuse

The phoenix is an immortal bird associated with Greek mythology (with analogs in many cultures) that cyclically regenerates or is otherwise born again. Associated with the sun, a phoenix obtains new life by rising from the ashes of its predecessor.

Posted by 8899EL8899 > 2023-01-14 21:54 | Report Abuse

IF YOU HAVE BOUGHT SERBADK AT 40SEN,........

TREAT IT LIKE SHARE CONSOLIDATION 20 TO 1,........

IF YOU BOUGHT AT 20SEN,.......

ASSUME IT LIKE SHARE CONSOLIDATION 10 TO 1,........

SELL IT FAST !....

CUT YOUR LOSES !

BEFORE TOO LATE TO SELL .

Posted by joyvest > 2023-01-14 22:18 | Report Abuse

While appealing be it frivolous or not ,Dr.K is trying to stimulate the share price by announcing the release of regularisation plan after which his gang and him would dump their cheap buy which was long accumulated...

Posted by BursaVulture > 2023-01-14 23:05 | Report Abuse

Phoenix.... more like chicken.

Posted by 1invest1 > 2023-01-15 00:26 | Report Abuse

Bungkus, finish, gone, habis, kaput, zero.
Why waste time & money.
Buy blue chips Public Bank Bhd, Genting Bhd

2023 year of bank & gaming - tourism.
Higher interest rate means profit for bank.
Open for China means profit for casino.

Once PBB & GB moves fast, you can't catch.

Posted by Income > 2023-01-15 06:02 | Report Abuse

Dear 1invest1,
You may have forgotten that Serba D last time is one of the Blue Chips in Bursa. So any Blue Chips also can suffer the same fate like this Serba D lah.


Posted by 1invest1 > 5 hours ago | Report Abuse

Bungkus, finish, gone, habis, kaput, zero.
Why waste time & money.
Buy blue chips Public Bank Bhd, Genting Bhd

2023 year of bank & gaming - tourism.
Higher interest rate means profit for bank.
Open for China means profit for casino.

Once PBB & GB moves fast, you can't catch.

Posted by Income > 2023-01-15 06:08 | Report Abuse

Dear 1invest1,
You may have forgotten that IN LATE NOVEMBER 2022 AFTER GENERAL ELECTION 14, Genting and Genm ( Both are Blue Chips ) dropped like rocks. Reason: Because PAS got the largest seats in Parliament and People were afraid PN could form the Government in Msia.
So not necessarily investing in Blue Chips are Safe lah.

Posted by BobAxelrod > 2023-01-15 07:26 |

Post removed.Why?

Posted by qqq47660 > 2023-01-15 08:28 | Report Abuse

What communism,? Serba is fraud case.

Posted by Bradar > 2023-01-15 10:36 | Report Abuse

For any contra players plan to put aside 2.5cts as stop loss, (for me) might as well put the future loss money into SD. Forget about all the financial reports & etc. This is a Boleh Land...

Posted by Sslee > 2023-01-15 10:48 | Report Abuse

Posted by qqq47660 > Jan 15, 2023 8:28 AM | Report Abuse
What communism,? Serba is fraud case

qqq3, So are Red Chips companies in Bursa. And for reasons only known to Bursa/SC/AG none of the fraudsters were bronght to Malaysia court to face justice.

Posted by BobAxelrod > 2023-01-15 11:33 | Report Abuse

Sslee, are you so naive to assume there was foul play and that everything could be bought in Malaysia???.....hehehe

Posted by qqq47660 > 2023-01-15 12:05 | Report Abuse

Sslee lost money on xinquan? I didn't....so must ask how come u lose money I didn't.

Posted by qqq47660 > 2023-01-15 12:09 | Report Abuse

By the time u lose money on xinquan, the majority of the people already wisen up ....as for prosecution, u think so easy meh? U smart the criminals not st.upid. the criminals have studied everything already..they won u lost

Posted by Sslee > 2023-01-15 12:09 | Report Abuse

The add salt to injury SC/Bursa will give you their reference or case number but no way you can check the status of your case.

Dear Sir/Madam,

Reference is made to your email on the above matter.

We have forwarded your email to our line department for their attention.

Thank you.

Bursa 2U
Bursa Malaysia Berhad
Our Ref: CAS-28033-Q9K5C1

Posted by qqq47660 > 2023-01-15 12:14 | Report Abuse

U got $1000 to spare, u bet Serba la...not me, they got more than a year to prepare their exit already.


The authorities make another mistake in relisting Serba to be delisted again in a few days.

Posted by Sslee > 2023-01-15 12:18 | Report Abuse

MoneyMakers Crazy mike doesnt care stuck high 44 flr
Poor people lose money - still poor (no difference)

MM is right those just spare RM1,000 to bet on Serbadk (no difference)

Me I just want to see justice being done.

Posted by Sslee > 2023-01-15 12:27 | Report Abuse

By the way qqq3, forging bank stetement is a crime in China and the external auditor got all the hard evedent of all those forged documents of those Red Chip companies.

Posted by BobAxelrod > 2023-01-15 12:38 | Report Abuse

Unfortunately Sslee, as you said a case file number allocated.....and Justice is only “seen” to be done but not DONE.

Posted by Sslee > 2023-01-15 12:38 | Report Abuse

Xingquan
The SC reprimanded Xingquan, its Executive Chairman and CEO Dato’ Wu Qingquan, Executive Director Wu Lianfa, former Non-Independent Non-Executive Director Ng Sio Peng and former Senior Independent Non-Executive Director Zhou Liyi for: falsely recording a loss of RMB415.7 million from the sale of inventory by Xingquan’s wholly-owned subsidiary;furnishing to Bursa Malaysia a false agreement between the said subsidiary and a third party; furnishing false or misleading financial statements to Bursa Malaysia; and recording cash and bank balances in eight bank accounts collectively belonging to Xingquan that were false or misleading.

In addition, Wu Qingquan and Wu Lianfa were also reprimanded for failure to provide a response to the SC when served with written notices requesting for information.

So a fine/reprimand which the offenders not even care to pay/response is considered justice done?

Posted by BobAxelrod > 2023-01-15 12:44 |

Post removed.Why?

Posted by BobAxelrod > 2023-01-15 12:49 |

Post removed.Why?

Posted by BobAxelrod > 2023-01-15 12:50 |

Post removed.Why?

Posted by BobAxelrod > 2023-01-15 12:54 |

Post removed.Why?

Posted by BobAxelrod > 2023-01-15 12:57 |

Post removed.Why?

Posted by Sslee > 2023-01-15 13:01 | Report Abuse

Previously when I am in Malaysia I can just call up Bursa Vice President of surveillance for a meeting to follow up with my case. But ever since he was acid attacked by hired hand, Bursa had tighten the control as every email can only address to Burs/SC official channel and your follow up email will received standard reply with another ref/case number.

Crime does pay in Malaysia.

Posted by qqq47660 > 2023-01-15 13:15 | Report Abuse

Those red chip guys studied everything..... originally just wanted the ipo money later found they can get rights issue money as well....and the rest is history. Not a bad harvest for a sting operation. Karim of Serba also same lah, easy money makes people brave .

Posted by qqq47660 > 2023-01-15 13:17 | Report Abuse

When shares are traded at 20 times earning or even 100 times earnings, it's a licence to print money

Posted by BobAxelrod > 2023-01-15 13:23 | Report Abuse

Sslee, you already know very well how things work inside and out. Do you still need road signs and a floor map??

Posted by BobAxelrod > 2023-01-15 13:28 |

Post removed.Why?

Posted by 8dragon > 2023-01-15 13:47 | Report Abuse

CO get listed bcos they can pocket big easy money...whether the CO can sustain here after is not relevant anymore....

Posted by InvestorKING > 2023-01-15 14:39 | Report Abuse

Tomorrow or Tuesday will drop back to 0.01 or even 0.005, for those who bought, all the Best

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-15 15:14 | Report Abuse

The common stock of bankrupt companies frequently trades considerably above its reorganization value, which is often close to ZERO. While there may be an occasional home run, as a rule investors should AVOID the common stock of bankrupt entities at VIRTUALLY ANY PRICE; the risks are great and the returns very uncertain. Unsophisticated investors have lost a great deal of money buying the overpriced common stock of bankrupt companies, even after the unfavourable terms of the reorganization plan have been widely disseminated.

It is worth remembering that restructurings and bankruptcy reorganizations are negotiated processes.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-15 15:18 | Report Abuse

SERBADK Financial Information
Market Capital (RM)
: 74.54m
Number of Share
: 3.727b
EPS (cent)
: -31.04 *
P/E Ratio
: -
ROE (%)
: -63.35
TTM Profit Margin (%)
: -150.9
CAGR - Revenue (%)
: -
CAGR - PAT (%)
: -

Dividend (cent)
: 0.000
Dividend Yield (%)
: 0.00
Dividend Policy (%)
: Member Only
NTA (RM)
: 0.490
P/B Ratio
: 0.04

Posted by Bradar > 2023-01-15 15:22 | Report Abuse

I am not looking at their accounting numbers. SD might hv a backup story. A good one. If not no one will dare to sign off their AR reports. A limited risk stock now. Buy for a positive hope... hehehe.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-15 15:35 | Report Abuse

Fiscal year is July-June. All values MYR Millions. 30-Sep-2022
Cash & Short Term Investments 36
ST Debt & Current Portion LT Debt 2,562
Long-Term Debt 1,205

Total Accounts Receivable 2,123
Inventories 1,620
Accounts Payable 718

Total Current Assets 3,897
Total Current Liabilities 3,424
Current Ratio 1.14
Quick Ratio 0.66
Cash Ratio 0.01

Total Liabilities 4,690
Common Equity (Total) 1,818

Net Property, Plant & Equipment 2,399
Total Assets 6,511
Total Shareholders' Equity / Total Assets 27.92%

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-15 15:55 | Report Abuse

Debt hierarchy

Senior securities (debts) are first in priority, and unless they are fully or almost fully repaid, junior classes (equities) are unlikely to receive significant value.

Investing in the stocks or junior securities can provide spectacular returns but can also prove disastrous. These securities often serve as out-of-the-money option - effectively, bets - on an improvement in operating results or an increase in value.


[ Latexx: this company had a lot of debt and was restructured. Among the shareholders, a brother bought out the other brothers' shares. The debts were restructured into equities and for these, the lenders got a lot of very cheap warrants. Due to the favourable turnaround in its business post-2008, when the production capacity of the glove sector as a whole was insufficient and business was very good, its business made a turnaround and it generated significant profits. Its shares and particularly, its warrants gave huge returns to those who were holding these. I was lucky too, owning this before the huge rise. Got to know this stock at that time, through scuttlebutt. ]

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-15 16:00 | Report Abuse

Fiscal year is July-June. All values MYR Millions. 30-Sep-2022
Cash & Short Term Investments 36
ST Debt & Current Portion LT Debt 2,562
Long-Term Debt 1,205

Total Accounts Receivable 2,123
Inventories 1,620
Accounts Payable 718

Total Current Assets 3,897
Total Current Liabilities 3,424
Current Ratio 1.14
Quick Ratio 0.66
Cash Ratio 0.01

Total Liabilities 4,690
Common Equity (Total) 1,818

Net Property, Plant & Equipment 2,399
Total Assets 6,511
Total Shareholders' Equity / Total Assets 27.92%

==============



Asset valuation approach in liquidation

Liquidation

Liquidation value is the net realizable amount that could be generated by selling a company’s assets and discharging all its liabilities.

When valuing a business for liquidation, most assets are marked down and the liabilities treated at face value.

Cash and securities are taken at face value.
Receivables require a small discount (perhaps 15 percent to 25 percent off).
Inventory a larger discount (perhaps 50 percent to 75 percent off).
Fixed assets at least as much as inventory.
Any goodwill should probably be ignored.
Most intangible assets and prepaid expenses should be ignored.
The residual is the shareholders’ take.

This valuation method is useful for companies being dissolved.

It doesn’t consider value arising from deploying the resources in combination. It is thus of limited use for valuing businesses as going concerns.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-15 16:24 | Report Abuse

Total Accounts Receivable 2,123
Inventories 1,620
Net Property, Plant & Equipment 2,399


Total Liabilities 4,690
Common Equity (Total) 1,818



When valuing a business for liquidation, most assets are marked down and the liabilities treated at face value.

Total Accounts Receivable 1600 (25% discount of 2,123, less about 500m)
Inventories 810 (50% discount of 1,620, less about 800m)
Net Property, Plant & Equipment 1,200 (50% discount of 2,399, less about 1,200m)


Total Liabilities 4,690
Common Equity (Total) NEGATIVE [1,818 less (500m + 800m + 1,200m) = - 700m]

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-15 16:26 | Report Abuse

>>>
Bradar

I am not looking at their accounting numbers. SD might hv a backup story. A good one. If not no one will dare to sign off their AR reports. A limited risk stock now. Buy for a positive hope... hehehe.
>>>>


Interesting comment.

A fool and his money soon go their separate ways.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-15 16:35 | Report Abuse

Auditor finds Serba Dinamik has unverified assets, liabilities, revenue and expenses totalling over RM12 bil

savemalaysia
Publish date: Sat, 14 Jan 2023, 08:35 AM
KUALA LUMPUR (Jan 13): Serba Dinamik Holdings Bhd has unverified assets, liabilities, revenue and expenses amounting to RM12.43 billion, according to accountant Jason Sia Sze Wan from Nexia SSY PLT, the group's external auditor.

“We were unable to obtain sufficient appropriate audit evidence about whether any adjustments might have been necessary in the group’s and the company’s financial statements,” Sia stated in the independent auditors’ report to the members of Serba Dinamik dated Jan 5, 2023 that is included in the group’s 2022 annual report.

“In addition, we were unable to conclude that the carrying amounts of the above items are fairly stated in the financial statements,” he said referring to Serba Dinamik’s statements of financial position as at June 30, 2022 (FY2022).

By breakdown, Sia listed under assets an unverified property, plant and equipment of RM1.99 billion, unverified inventories of RM1.59 billion, as well as unverified trade and other receivables of RM1.59 billion.

Under liabilities, there is an unverified trade and other payables amounting to RM639.56 million, as well as unverified loans and borrowings totalling RM3.65 billion.

He also indicated RM1.35 billion of unverified revenue and RM1.62 billion of unverified cost of contracts with customers.

“We do not express an opinion on the accompanying financial statements of the group and of the company,” Sia said.

Serba Dinamik finally submitted its 2022 annual report to Bursa Malaysia Securities Bhd on Thursday after much delay since Oct 31, 2022.

When Serba Dinamik failed to meet the Oct 31, 2022 deadline, the financially-distressed oil and gas services provider said it faced challenges for the completion of the audit by the external auditors due to lack of personnel arising from the resignation of many staff across the organisation, including its chief financial officer and the financial controller in September 2022.

Serba Dinamik said the company's finance team had to also adapt to new work processes in facilitating the interim liquidator and his team in carrying out their duties in managing the company's financial and operational affairs.

In addition, the company said there was a delay in finalising the responsibility of the audit fees and other incidental obligations.

Moving forward, the management team said it will focus on the company’s financial health and is looking into formulating a plan to regularise its financial condition in approximately one month.

After a three-week suspension, the trading of Serba Dinamik’s shares resumed on Friday, as the stock doubled from its all-time low of one sen to two sen. The counter was the most active on Bursa with 371.05 million shares traded.

However, it should be noted that the trading of Serba Dinamik’s shares will be suspended again next Wednesday (Jan 18) until further notice, as the court had granted a winding-up order against the company.

Read more:

Serba Dinamik finally submits its 2022 annual report after much delay



https://www.theedgemarkets.com/node/651734

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2023-01-15 16:35 | Report Abuse

By breakdown, Sia listed under assets an unverified property, plant and equipment of RM1.99 billion, unverified inventories of RM1.59 billion, as well as unverified trade and other receivables of RM1.59 billion.

Posted by BobAxelrod > 2023-01-15 16:42 |

Post removed.Why?

Posted by BobAxelrod > 2023-01-15 16:49 | Report Abuse

Latexx was a once in a lifetime, maybe an eon, as per all other Gloves counters. Stup...eed windfall never to be repeated again.

Nothing to do with smart analysis or long term investments.

Posted by BobAxelrod > 2023-01-15 16:50 |

Post removed.Why?