Good123

KUALA LUMPUR (Jan 31): Lambo Group Bhd’s external auditor has expressed a disclaimer of opinion in the group’s financial statement due to lack of audit evidence on financials relating to its subsidiary Fujian Accsoft Technology Development Co Ltd.

CAS Malaysia PLT expressed the disclaimer of opinion in Lambo’s financial statement for the 16-month period ended Sept 30, 2022, said Lambo in a bourse filing.

China-based Fujian Accsoft, an indirect wholly-owned subsidiary of Lambo, was in the spotlight in July last year when China’s Ministry of Finance said the company’s audited financial statements for 2016, 2017 and 2018 were falsified and a penalty was imposed on its auditor.

CAS Malaysia said it was not able to gather sufficient appropriate audit evidence to verify Fujian Accsoft’s financials up to the date it was deregistered or wound up in China last May.

“We have tried to communicate with the legal representative of the Fujian Accsoft to request for the management account for current period and prior year. However, there has been no reply from the legal representative of Fujian Accsoft,” said the auditor.

“Furthermore, we have communicated with the prior year component auditor of Fujian Accsoft in regards to this matters. They had informed us that they were not appointed as the current financial period auditor and they were unable to contact the legal representative of Fujian Accsoft,” it added.

CAS Malaysia also said it has not received satisfactory responses from Lambo’s directors.

“As we were unable to obtain sufficient appropriate audit evidence on the findings by China’s Finance Ministry and inability of the management to provide the relevant financial statements of Fujian Accsoft, we therefore do not express an opinion on these financial statements,” it said.

CAS Malaysia noted that with Fujian Accsoft deregistered, Lambo has booked a loss on deregistration of RM3.96 million as at Sept 30, 2022.

However, the auditor said it was not able to ascertain the accuracy, completeness and validity of this amount due to the non-availability of Fujian Accsoft financial statements.

CAS Malaysia also raised a matter relating to Lambo’s other investment as its basis for disclaimer of opinion.

The auditor pointed out that Lambo had acquired 212.96 million shares or a 23.27% stake in a public-listed company.

CAS Malaysia opined that this investment should be recognised as “investment in associates and to be equity accounted in Lambo’s financial statements.

However, Lambo’s directors are of the view that this investment should be classified as “financial instruments”.

“Therefore, we were unable to obtain sufficient appropriate audit evidence to ascertain the classification and measurement of the other investment,” said CAS Malaysia.

Lambo’s largest shareholder is Cheetah Holdings Bhd, with a 21.2% stake, followed by Lambo executive director Koo Kien Yoon with 7.05%.

Apart from Koo, Lambo also has another executive director, Chinese national Zhuang GuoHua, who was appointed in May 2017.

With CAS Malaysia’s disclaimer of opinion on Tuesday, Lambo announced that it is now a Guidance Note 3 company, and it is required to submit a regularisation plan to Bursa Malaysia within 12 months.

Shares of Lambo closed half sen or 9.1% lower at five sen on Tuesday, giving the group a market capitalisation of RM77 million.

Read also:

Lambo says not aware of any wrongdoing in China subsidiary

Lambo reaches out to China's finance ministry, auditors over subsidiary's alleged wrongdoing

China unit is deemed 'cancelled', says Lambo

2023-02-01 06:08

NicmannNg

goodbye lambo...

2023-02-01 09:25

NicmannNg

goodbye lambo...

2023-02-01 09:25

Icon 888

Die hard

2023-02-02 10:20

ID007

so lambo will delist?

2023-02-02 14:40

NicmannNg

become next Serbadk?

2023-02-02 15:39

Eric Lim

Lambo and Cheetah, very powderful, don't play play

2023-02-02 20:40

Good123

Sayorana lambo


KUALA LUMPUR: Lambo Group Bhd kini disenaraikan di bawah status Nota Panduan No 3 (GN3) selepas mencetuskan kriteria Nota Amalan 2.1(f) GN3 Keperluan Penyenaraian Pasaran ACE Bursa Securities (Keperluan Penyenaraian Pasaran ACE), kata Bursa Malaysia Securities Bhd (Bursa Securities).

"Bursa Securities ingin menegaskan bahawa ia akan terus memantau perkembangan Lambo dari segi pematuhannya terhadap Keperluan Penyenaraian Pasaran Utama," katanya dalam kenyataan hari ini.

Peraturan 2.1 (f) GN3 itu dicetuskan apabila juruaudit menyatakan pandangan sebaliknya atau penafian dalam penyata kewangan terkini syarikat tersenarai yang diaudit.

Setakat 2 Februari 2023, sebanyak 28 syarikat tersenarai di bawah status PN17 dan GN3 iaitu 2.94 peratus daripada keseluruhan 951 syarikat yang tersenarai di Pasaran Utama dan ACE Bursa Securities.

-BERNAMA

2023-02-02 22:11

Good123

Mungkin pengarah2 lambo akan
didakwa dan dipenjarakan... Checkmate oleh bursa hurray

Satu pengajaran kpd semua pengarah yg mau mencuri duit sykt ataupun dana pemegang saham

2023-02-02 22:29

Good123

Mencuri duit sykt Melalui subsidiari di luar negara ataupun jualan subsidiari dengan kerugian bukanlah satu cara mencuri wang pemegang saham yang baik hahahaha

2023-02-02 22:32

Good123

Pengarah2 harus disiasat dan dihukum jika terbukti money laundering ataupun sengaja merugikan pemegang2 saham...

The Group recorded loss after tax of RM 51.26 million for the current quarter ended 30 September. This is mainly due to the loss on deemed
disposal of subsidiary of RM6.9 million and the impairment loss on the amount owing by the deemed disposed subsidiary approximately RM38
million.

2023-02-02 22:36

Good123

Semua stakeholders termasuk poor workers rugi kerana pengarah2 tak bertanggungjawab, dll

2023-02-02 22:39

Good123

Kalau tak didakwa dan dihukum tak takut

PRACTICE NOTE 17 / GUIDANCE NOTE 3 : MONTHLY ANNOUNCEMENT
LAMBO GROUP BERHAD

Type Announcement
Subject PRACTICE NOTE 17 / GUIDANCE NOTE 3
MONTHLY ANNOUNCEMENT
Description LAMBO GROUP BERHAD ("LAMBO" OR THE "COMPANY")
- MONTHLY ANNOUNCEMENT PURSUANT TO GUIDANCE NOTE 3 ("GN3") AND RULE 8.03A OF THE ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("AMLR")
Reference is made to the Company’s announcements dated 22 August 2022 (“First Announcement”), 26 August 2022, 1 September 2022, 6 October 2022, 13 October 2022, 10 November 2022, 1 December 2022, 28 December 2022 and 3 January 2023 in relation to the Company being classified as an affected listed corporation pursuant to Rule 8.03A of the AMLR and the Company’s announcement dated 31 January 2023 in relation to the Company being classified as a GN3 company as a result of the Company triggering the prescribed criteria under paragraph 2.1(f) of GN3 of the AMLR.



The Board of Directors of the Company wishes to announce that the Company is still in the midst of formulating a regularisation plan to address its financial condition and the Company shall make the necessary announcement in relation to the development on the above matter.



The Company has approximately 7 months to submit its regularisation plan to the relevant authorities.



This announcement is dated 2 February 2023.





Announcement Info
Company Name LAMBO GROUP BERHAD
Stock Name LAMBO
Date Announced 02 Feb 2023
Category General Announcement for PLC
Reference Number GA1-31012023-00115

2023-02-02 22:44

Good123

Perbuatan curang para pengarah, semua tahi

FINANCIAL CONDITION
LAMBO GROUP BERHAD

Kindly refer to the Company's announcement dated 31 January 2023 on LAMBO's classification as Guidance Note 3 company.


Announcement Info
Company Name LAMBO GROUP BERHAD
Stock Name LAMBO
Date Announced 02 Feb 2023
Category Investor Alert Announcement
Reference Number IIA-02022023-00001

2023-02-02 22:45

Good123

Urgent Action Needed To Arrest Corruption Index Decline on BFM. Check out this episode!

2023-02-02 23:05

Good123

Banyak isu money laundering dan accounting fraud masakini

2023-02-03 08:17

Good123

Lambo akan menjejaskan cheetah dan xox .. berkaitan

2023-02-03 08:17

Good123

Usah sentuh stok pn17. GN3, dll...

2023-02-03 08:18

Good123

Avoid. Mungkin ada kes jenayah korporat

Lambo Group Bhd has been classified as a Guidance Note 3 company. Lambo said it was still in the midst of formulating a regularisation plan to address its financial condition, and it had approximately seven months to submit its regularisation plan. Previously, its external auditors had expressed a disclaimer of opinion in the company's consolidated audited financial statements for the 16-month period ended Sept 30, 2022, concerning Lambo’s subsidiary Fujian Accsoft Technology Development Co Ltd.

2023-02-03 08:22

whistlebower99

FOR NEWBIES

https://www.klsescreener.com/v2/stocks/view/0018/lambo-group-berhad

Previous corporate exercises:-

Announced EX Date Subject Ratio Offer
28 Jul 2021 11 Aug 2021 Rights Issue (warrant) 5.0000 : 1.0000 0.1000
09 Jul 2021 23 Jul 2021 Share Consolidation 1.0000 : 25.0000

=================
After shares consolidation and massive fund raising causing huge losses to long term retail shareholders, directors still fail to generate profits from business due to insignificant business or operation !!!

=================
Retail shareholders continue holding the shares with paper losses
NOSH exceeded 1,5 BILLION once again

NOSH = 1,540,499,046
WB= 94,595,020
WC= 398,981,138

==============
LAMBO GROUP BERHAD ("LAMBO" OR "THE COMPANY")
- FIRST ANNOUNCEMENT PURSUANT TO GUIDANCE NOTE 3 ("GN3") OF THE ACE MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") ("AMLR")

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3325199

============
Continue to monitor the GN3 condition

2023-02-03 11:20

ID007

why la Koo Kien Yoon haiya

2023-02-03 12:13

Good123

Worst scenario, masuk penjara macam najib je, apa susah :)

@ID007

why la Koo Kien Yoon haiya

8 hours ago

2023-02-03 21:11

Good123

Komen dalam bahasa mandarin pun ada haha


@Tan Sh
#做老千就是做老千很难做回一个正常的人都是家族的种不好可怜的老千

2023-02-03 21:21

Good123

Komen dlm bahasa mandarin ... Ramai tersinggung


@gogo UP
懒趴没得救 举报SC这个害人股

2023-02-03 21:22

Good123

Bagus, tangkap semua , tak peduli najib ka, jho low, dll ... Terbaik

In the case before Judge Muhamad Anas, Foo was charged with 10 counts of receiving and disposing of RM9.6mil, believed to be proceeds from unlawful activities, while the remaining 12 charges, involving transferring and disposing of RM18.4mil, were before Judge Norazalin.

He was alleged to have received the money through cheques and transferred it online from a bank account belonging to the company into his own personal account and several other company accounts.

The offences were allegedly committed at two bank branches in Bangsar and Bandar Puteri Puchong between Feb 2018 and Dec 2020.

The charges were framed under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 and punishable under Section 4(1) of the same law, which provides imprisonment for up to 15 years and a fine of not less than five times the amount or value of proceeds from the unlawful activities or RM5mil, whichever is higher if found guilty.

Deputy Public Prosecutor Muhammad Zulfadli Mohd Nawawi prosecuted in both cases, while Foo was represented by lawyer Tuw Min Ric.

2023-02-03 22:07

Icon 888

Lambogini crash

2023-02-06 16:42

ID007

tmrw crash??

2023-02-06 18:37

Good123

Banyak duit pemegang syer dah diselewengkan oleh pengarah2 lambo.

الأوبئة،الأوبئة!

2023-02-07 08:03

Good123

Berwaspada

0018 LAMBO LAMBO GROUP BERHAD
PRACTICE NOTE 17 / GUIDANCE NOTE 3
PRACTICE NOTE 17 / GUIDANCE NOTE 3
LAMBO GROUP BERHAD ("LAMBO" OR THE "COMPANY")- MONTHLY ANNOUNCEMENT PURSUANT TO
GUIDANCE NOTE 3 ("GN3") AND RULE 8.03A OF THE ACE MARKET LISTING REQUIREMENTS
OF BURSA MALAYSIA SECURITIES BERHAD ("AMLR")
You are advised to read the entire contents of the announcement or attachment.
To read the entire contents of the announcement or attachment, please access
the Bursa website at http://www.bursamalaysia.com

02/02/2023 07:00 AM


Ref Code: 202302023000208

2023-02-07 08:04

ID007

use money gaodim jek

2023-02-08 10:44

Icon 888

Game over?

2023-02-10 11:33

ID007

kasi goreng 1 more time

2023-02-10 11:34

ID007

kesian lambo. management makan kuat.

2023-02-13 09:53

NicmannNg

delist soon lambo

2023-02-13 10:17

nicholas99

better. rubbish.

2023-02-13 10:17

whistlebower99

Modus operandi of many loss making penny stocks
1. Directors fail in generating business profit
2. Multi year losses, multi quarter losses
3. Directors repeatedly do fund raising via shares issuance to PP, ESOS and asset acquisition
4. Directors utilise most of the fund raised
5. When NOSH reach unmanageable Billions of shares, directors do shares consolidation, follow by fund raising via rights issue
6. Repeat step 1 to 5

2023-02-13 14:00

whistlebower99

https://www.nst.com.my/news/crime-courts/2023/02/878293/company-director-datuk-seri-title-claims-trial-using-fake-invoices

many con man in this world manipulating to cheat

be careful, they could be targeting your hard earned money

2023-02-13 14:04

whistlebower99

Modus operandi of many loss making penny stocks
1. Directors fail in generating business profit
2. Show Multi year losses, multi quarter losses
3. Directors repeatedly do fund raising via shares issuance to PP, ESOS and asset acquisition
4. Directors utilise most of the fund raised
5. When NOSH reach unmanageable Billions of shares, directors do shares consolidation, follow by fund raising via rights issue
6. Repeat step 1 to 5

2023-02-14 16:12

Icon 888

Sayonara wor.. sayonara wor ..by Leon lai

2023-02-15 10:39

sunsetbiz

buy popcorn and see the losses show lol....:)

2023-02-17 09:52

Loh Kok Wai W

25=1...one more time....

2023-02-22 21:26

whistlebower99

FOR NEWBIES

PASUKGB is the latest high NOSH low price penny stock proposing to do shares consolidation !!!

This announcement is dated 24 February 2023.

===================
Be careful trading high NOSH low price penny stocks

Directors have power to propose shares consolidation to trim down your shareholdings by many times and raise more fund via rights issue with free warrants

Long term shareholders holding at high prices will incur huge losses due to the corporate exercises

List of penny stocks with shares consolidation :-

2023 in progress - VSOLAR, DOLPHIN, EDUSPEC, TECHNAX, PASUKGB

2023 completed = MERIDIAN

2022 - YONGTAI, DIGISTA, MTRONIC, AGES, IDMENSN, KANGER, AAX, LKL, MNC, NEXGRAM, IMPIANA, FAST

BEFORE 2022 - PWORTH, PDZ, LAMBO, PASUKGB, MTOUCHE, SANICHI, VC, TRIVE, VINVEST, ICON, MLAB, NETX,.........

====================
TAYOR, don't be caught in share consolidation exercise

2023-02-28 11:23

NicmannNg

seem suspended soon in 6 months~~

2023-03-03 14:49

Icon 888

Run .. Market collapse

2 months ago

GS

@ whistlebower99 , just to add on their “old name”

(old Name)

(FASTRAK) -> VSOLAR
(LITESPD) -> EDUSPEC
(HUAAN) -> TECHNAX
(MEDAINC) -> MERIDIAN
(PSIPTEK) - > AGES
(IDMENSN) -> EVD
(NEXTNAT) -> NEXGRAM
(BIOOSMO) -> IMPIANA
(TECFAST)-> FAST
PORTRAD -> (OMEDIA) -> ACCSOFT -> LAMBO
(TMS) -> SKH -> VC(VORTEX CONSOLIDATED) -> HM(HARVEST MIRACLE)
(ETITECH) -> TRIVE
(IPOWER) -> INSTACO -> VIVOCOM -> VINVEST
GLOSOFT -> (AGLOBAL) -> NETX

2 months ago

Good123

Jangan cabut. Takut ka? :)


Save Print Back

0018 LAMBO LAMBO GROUP BERHAD
Change in Boardroom
Date of Change: 16/03/2023
Type of Change: Retirement
Designation: Director
Directorate: Exec
Name: ZHUANG GUOHUA
Age: 49
Country:
Nationality: China
Qualifications:
Working Experience and Occupation:
Directorship of public companies (if any):
Family relationship with any director and/or major shareholder of the listed issuer:
Details of any interest in the securities of the listed issuer or its subsidiaries:
Remarks:
You are advised to read the entire contents of the announcement or
attachment. To read the entire contents of the announcement or attachment,
please access the Bursa website at http://www.bursamalaysia.com
Submitted By:

16/03/2023 07:00 AM

2 months ago

whistlebower99

Modus operandi of many loss making penny stocks
1. Directors fail in generating business profit
2. Show multi year losses, multi quarter losses
3. Directors repeatedly do fund raising via shares issuance to PP, ESOS and asset acquisition
4. Directors utilise most of the fund raised
5. When NOSH reach unmanageable Billions of shares, directors do shares consolidation, follow by fund raising via rights issue
6. Maybe change company name to 'hide' the past from new investors
7. Repeat step 1 to 6

1 month ago

whistlebower99

FOR NEWBIES

Previous Capital Change

Announced EX Date Subject Ratio Offer
28 Jul 2021 11 Aug 2021 Rights Issue (warrant) 5.0000 : 1.0000 0.1000
09 Jul 2021 23 Jul 2021 Share Consolidation 1.0000 : 25.0000
10 Apr 2019 22 Apr 2019 Bonus Issue (warrant) 1 : 2
12 Feb 2018 01 Mar 2018 Subdivision 10 : 25
09 Dec 2015 21 Dec 2015 Rights Issue (warrant) 4 : 2 0.1000

https://www.klsescreener.com/v2/stocks/view/0018/lambo-group-berhad

==============
NOSH = 1,540,499,046
WB = 945,95,020
WC = 398,981,138

=====================
After share consolidation, NOSH exceed 1.5 BILLION shares again

1 month ago

ID007

kesiannnnn

1 month ago

Icon 888

Ya.. kesian.. bye bye

1 month ago