EY disagreed with KMPG

The press statement " Serba suing KMPG for negligently red flagged issues " the group is seeking punitive and aggravated damages from KMPG for breach of contract and negligence. External auditor KMPG did not respond or comment. The Crux of the KMPG subject they are not able to verify certain contracts and transaction with 11 customers of the group. Possibilities link to pandemic outbreak and movement control imposed in most countries. Have they { KMPG contacted, visited or interview the parties individually}

DJ index jump + 500 points. Gloves still stagnant

DJ index jump + 500 points. Gloves still stagnant

2 school of thoughts. Cut loss or hold. Risk and reward is something which all of us have different criteria or appetite. Just like a game of poker. Who holds the winning hand or the last card will showed hand

Looks like GP following MMAG trend trending from 25 sen to 17-18. both operate in the same ICT and software

Glove stock facing headwind and bad sentiment

Sentiment bad today everthing down

Oil price strong but local market drop like shit

Bad sentiment facing glove stocks

Asked any KMPG interns past experience. Good brand name but bad work culture. over load work,long working hours , odd hours, no balance work life.this are the interns send out to do the field

Drop for the past 7 -8 days

SCR follow MMC

CEO { Syed Zainal } is a hands on entrepreneur cum engineer not a bureaucratic guy

Yes. At this point & price level 67-68 .what else can we do

Yes.but the price drop like a brick from 1.61 to current 67-68 { KMPG dragged serba, Kpower,Scib } far reaching impact if KMPG accuracy and veracity is tested by EY and ind directors review

Asp gloves dropping .look at TG and supermax chart pattern { just my own take }

Need to wait in the afternoon

The 3 newly appointed ind directors heading the committee would not have agreed to thier appointment if they had any interest with Serbak.highly reputable individuals. One is former SC board member, another is from a state fund board, last one is a seasoned corporate player.last but not the least EY us the independent reviewer on the audit { to verify and review } the accuracy and assess the veracity. Veracity of KMPG

Abdul Kadier the second largest shareholder in Serba is a self made man. Started off working in SEDC ( state economic board } before venturing into own business. Believed to have close ties with State .member of PPB

MSWG { CEO } mentioned Serba is entitled to have an third party independent review on KMPG { rarely MSWG voiced out to support a company } something is not right with KMPG

Foxconn { Hon Hai } is a reliable and reputable name. buying into Dnex showed they have map out plans for silterra

EGM forthcoming good news announcement

Imagine 3 additional ind directors on the board. I from KWSP, another past SC board member .third one from Sarawak State investment fund. Bingo

Yes Toyota totally agreed. Invest in Dnex and prosper together

If one of the 3 new ind directors come from KWSP .a great booster for Serba shares

Alot of retailers get shot and shit in their pants

Related to Awang dragged down by bad serba perception

Hon Hai offer Silterra exclusive contract manufacturing ?

Hon Hai is not stopping at 5% .they need to top to 10% to ask for Board representation

Everything in Malaysia is link politically. Look how Cimb take over SBB bank. How KFC { CG loo } lose the franchise, how Etronas pump in money to BMF and not forgetting MAS airlines saga. Sarawakians is the new power brokers or king maker

KPMG causes ??? Collapse of the Serba , Kpower,, Scib and other related counter share prices. Investors lose millions or billions wipe off kLSE market capitalization if serba doesn't have a case to answer .big big question and behind the scene negotiating.

Kanenites : great article. JIT inventory has impacted all sectors { not only car manufacturers or even the home appliances } it cut across all business with the chips manufacturing seriously hampered by the China -US trade dispute and the high start up cost

Warchest : totally agreed with the figs. May I add Bplant prai estate is a very valuable tract of land fronting the NS Highway. great potential & loads of suitor from northern property players

Those want to throw already throw the past 3 days

The private placement at 72 sen to a third party is huge .Not small change potentially can raise up to 720 million - 1.4 billion in multiple tranches. Expect multiple sovereign state funds with deep pockets to subscribe

Charles T : yes big boss angry & agitated by the young KMPG girls line of questioning .this junior babes know only how to pass exams but totally lack social etiquette ot basic business skills. Part of the team just greenbees. Now you understand why this girls are doing all the work during MCO and submit their report to the seniors. The seniors repose their findings to team head .no discussion due to MCO .big irreparable damages to this bunch of nitwigs

Good .if KMPG problem settles and complete their audit review

Based on whatever available press reports KMPG { external auditor} is worried on the impact of Serba bottom line if any of the trade account receivables turn bad. Ageing of credit terms is their concern not falsifying of trade { vs IMDb where money is deposit & transfer into
others offshore account}

Hit 65 but cannot sustain. Need a bolster shot { take it private }

If letter from KPMG confirm no big issue .? Expect 360% turn

Jitters after MCO lockdown announcement yesterday

Forced selling T+2 { 1.60 - 80 = 50% loss }

Hope the rebound can be sustain

Jtiasa hedging doubled side edge sword. Sometimes you win but also can lose

Auditors are like parasite.suck your $$$ and tell u " please state your business risks in the coming years " business risk, market risk , currency risk and geo political risk. Always remember Deloitte famous quote IMDb pink of health.

Manipulated and twisted by bankers and IBs

MOF agreed to dellotte settlement of USD 80 million in the 1MDB scandal. next is KMPG

Value investing is really tough ! Local stocks driven by perception and sentiment.look at local banks and IB's recommendations on Glove counters { you trust thier reviews } you end up holding spoilt durian. Kpower, Serba glowing reports suddenly drop like hot potato. Do your own homework

Opportunity comes once not twice. Look at this if the placement is successful. Great for Dnex { shareholders }