BATFLY

BATFLY | Joined since 2020-05-08

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2021-06-01 09:23 | Report Abuse

Hope serba settle with KPMG fast avoid and bursa must mediate the big issue so that no spill over effect on other stocks.

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2021-06-01 09:20 | Report Abuse

Want to sell also cannot.. Worst than Tsunami....

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2021-06-01 09:19 | Report Abuse

End of the day you need to do your own analysis thoroughly before investing..

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2021-06-01 09:18 | Report Abuse

Two days in a row limit down.. Can it be 3 in a row? Lesson learnt Don't ever trust analyst.. Same like what happen to gloves counter...

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2021-06-01 08:56 | Report Abuse

Panic selling is common. Please analyse your case carefully , and don't rush to sell if fundamentally intact..

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2021-06-01 08:36 | Report Abuse

Any audit issue? Any fraud detected? Or is it speculation? Buy the rumour sell the news.. Happy trading..

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2021-05-30 21:36 | Report Abuse

Rr88.. Covid dropped on weekend cos no testing la. Ha Ha..

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2021-05-29 09:56 | Report Abuse

As long as fundamentally and company operation n structure intact, just hold on..

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2021-05-29 09:53 | Report Abuse

Outcome of investigation can tarnish KPMG image.. But changing of auditor is not a good sign for Serba.. Anyway stay cool and wait for the report.

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2021-05-28 23:16 | Report Abuse

BDO is the fifth largest accounting firm in the world. They earned $8.1 billion for their fiscal year ended September 30, 2017. They earned $7.6 billion for their fiscal year ended September 30, 2016.11 Mar 2021

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2021-05-28 23:14 | Report Abuse

Since our founding in 1963, the BDO story has been one of continuous response to our clients’ and our people’s ever-changing needs. Our history is relevant today because our clients value the continuity and stability of a global organisation that has developed so successfully over more than fifty turbulent years. Equally, our partners and staff know that they are working for a well-established organisation that is built upon clear values and a successful past.

The initial international organisation was known as the Binder Seidman International Group, formed by respected firms that were already well established in Canada, Germany, the Netherlands, the UK and the USA, and wished to share and expand their knowledge in order to better serve their clients. In 1973 the organisation adopted the name BDO, made up from the initials of the three founding European firms: Binder (UK), Dijker (Netherlands) and Otte (Germany).

We’re proud that in the subsequent 50 years, BDO has grown into a US$10 billion business, operating in 167 countries. We have achieved this by adapting to the changes brought about by external forces such as regulation and globalisation, as well as the changing needs and expectations of our clients.

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2021-05-28 23:12 | Report Abuse

Serba Dinamik's second largest shareholder proposes removal of KPMG as auditor

By Adam Aziz | theedgemarkets.com | 2021-05-28 20:59:45
KUALA LUMPUR (May 28): Serba Dinamik Holdings Bhd said its non-independent non-executive director Datuk Abdul Kadier Sahib, who is also the second largest shareholder, has proposed to remove KPMG PLT as the company’s external auditor.

Holding a 15.96% stake in Serba Dinamik, Abdul Kadier has also proposed to appoint BDO PLT as the company’s new auditor “in place of KPMG PLT for the financial year ending June 30, 2021”, the company announced to the stock exchange this evening.

The proposal to change auditor came two days after the oil and gas company announced that it is commencing a special independent review after its board of directors was informed by KPMG on some matters pertaining to statutory audit.

Concurrently, Abdul Kadier has also proposed for Serba Dinamik to convene an extraordinary general meeting (EGM), pursuant to Section 311 of the Companies Act 2016.

Serba Dinamik said that the special notice from Abdul Kadier for the proposals was received today, noting that the proposed change in auditor is subject to the approval being obtained from the shareholders at an EGM to be convened later.

In a statement issued on late Wednesday, Serba Dinamik managing director-cum-group chief executive officer (CEO) Datuk Dr Mohd Abdul Karim Abdullah later said the company has not changed its business structure materially since the initial public offering (IPO) in 2017 and has worked with KPMG since 2013.

The company is now targeting to release its annual report by Oct 31, having changed its financial year end to June 30, from Dec 31 just earlier this month. It cited challenges in finalising its financial statement from its operations across more than 20 countries due to the Covid-19 pandemic.

Karim is the single largest shareholder holding a 26.93% stake in Serba Dinamik. The Employees Provident Fund is the third biggest shareholder owning 10.15% while Kumpulan Wang Persaraan (Diperbadankan) has 5.25%..

While the substantial shareholder intends to remove the auditor, Serba Dinamik’s minority shareholders, however, are still kept in the dark. The board has yet to disclose details on the issues that KPMG has flagged to the management.

It is not known at press time if the regulators, namely Bursa Malaysia and the Securities Commission, have demanded Serba Dinamik to reveal further details on the matter. Nonetheless, the company said it had met the stock exchange prior to its first announcement on the matter.

So far, the stock exchange has approved the suspension of the trading of Serba Dinamik shares for two trading days.

Serba Dinamik’s board is chaired by Datuk Mohamed Nor Abu Bakar, who was formerly the chairman of Petronas’ Kerteh Integrated Petrochemical Complex up till 2007.

The company’s independent directors include KPMG Malaysia former partner Hasman Yusri Yusoff, Nationwide Express Holdings Bhd former managing director Rozilawati Basir, as well as accountant Sharifah Irina Syed Ahmad Razi and lawyer Tengku Datuk Seri Hasmuddin Tengku Othman.

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2021-05-28 18:59 | Report Abuse

Citi Research said the development at Serba Dinamik may serve as an overhang until the independent reviewer is able to verify the veracity and accuracy of the audit matters.

“Fundamentally, there is no change nor disruption to the group’s ongoing businesses at this juncture, ” Citi said yesterday, keeping its “buy” rating on the company.

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2021-05-28 18:56 | Report Abuse

Citi Research said the development at Serba Dinamik may serve as an overhang until the independent reviewer is able to verify the veracity and accuracy of the audit matters.

“Fundamentally, there is no change nor disruption to the group’s ongoing businesses at this juncture, ” Citi said yesterday, keeping its “buy” rating on the company.

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2021-05-20 15:57 | Report Abuse

Wow.. 430% increase in Qtr to Qtr net profit.. Growth stock since june 2018..

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2021-04-27 21:38 | Report Abuse

Rambutan...

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2021-04-27 21:38 | Report Abuse

Ekkram.. Guess you are right.. Anson must be a Psycho.. Ha Ha.. Simply talk nonsense.. Ha Ha.. Maybe Tanjung Tambutan will be a great place for him..

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2021-04-07 08:58 | Report Abuse

Don't let ppl call us animal.. It is the lowest grade.. So behave ourself.. Don't invite trouble. Stay safe and happy.

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2021-04-05 20:59 | Report Abuse

You’ll get your refunds, says AirAsia boss as airline faces ‘deep, deep’ money problems.. Pity Tony..

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2021-04-05 17:04 | Report Abuse

Next quarter result should be good as lately they are able to meet their sales target.

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2021-04-03 17:38 | Report Abuse

Pity AA.. Even unable to refund 450k people to cash flow problem.

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2021-04-03 17:37 | Report Abuse

The low-cost airline CEO said AirAsia is committed to refund the remaining 450,000 people who have yet to be paid back

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2021-04-03 17:36 | Report Abuse

Meanwhile, Tony also said that AirAsia X is currently in a very deep financial difficulty because it couldn’t fly anywhere and it has to deal with unfair competition

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2021-03-31 14:54 | Report Abuse

Read the latest edge magazine to understand AA situation..

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2021-03-31 12:28 | Report Abuse

Agreed.. Never gamble in share market.. Invest long term share.. Slow and steady win the race.. Cheers!!

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2021-03-31 12:17 | Report Abuse

Are you kidding, CGS-CIMB Research? AirAsia’s target price a mere 5 sen?
By Cheah Chor Sooi
1 day ago
in Markets

READING the latest research note on AirAsia Group Bhd by CGS-CIMB Research is tantamount to watching an episode of Ripley’s Believe It or Not?

One has to decipher the justification put forth by analyst Raymond Yap to fully comprehend how the 5 sen target price come about.

This is considering the 5 sen price tag is a far-fetched 95.5% discount over the budget carrier’s current price tag of RM1.11 (as of 10.49am).

Suffice to say that in his results review of the budget carrier, Yap sees ‘a sea of hopelessness’ confronting AirAsia with its 4Q FY2020 core net loss having ballooned to RM1.1 bil from a loss of RM43 mil the year before.

This is attributable to continued international border closures and the imposition of conditional movement control order (CMCO) in Malaysia from mid-October to Dec 6 last year that prohibited interstate travel.

“Interstate travel was prohibited again from Dec 7 and remains in force at the time of writing, hence the 1Q FY2021F core net loss may be as bad or worse than 4Q FY2020,” opined Yap.

Nevertheless, AirAsia’s 4Q FY2020 core net loss narrowed slightly from 3Q FY2020’s RM1.4 bil in part due to forex translation gains on its US$ liabilities as the greenback weakened against the ringgit, coupled with mark-to-market (MTM) gains on its interest rate derivatives as long-term interest rates recovered.

“On the other hand, the 1Q FY2021F may see forex translation losses due to the stronger US$ vs. ringgit,” cautioned Yap.

“AirAsia booked RM1.3 bil in exceptional impairment losses during 4Q FY2020, causing a net loss of RM2.4 bil in 4Q FY2020 (vs RM384 mil net loss in 4Q FY2019) and a net loss of RM5.1 bil in FY2020 (vs RM322 mil net loss in FY2019).”

In terms of sustaining its future operating costs, CGS-CIMB Research noted that the airline will need all the cash it can get its hands on given the quarterly run-rate of aircraft lease principal repayments is RM620 mil/quarter (as seen in 1Q FY2020).

“But the group only repaid RM40 mil/quarter during 2Q, 3Q and 4Q FY2020 (at just 6.5% of the quarterly run rate), resulting in deferred aircraft leases of at least RM1.5 bil,” revealed the research house.

Nevertheless, the available rescue packages include RM336 mil proceeds from the private placement of 470 million shares in February and March 2021, and up to RM1 bil in potential new loans from three local banks (of which 80% to be guaranteed by Danajamin) which could be drawn down by May.

As an icing on the cake, AirAsia is also planning a RM800 mil to RM1 bil rights issue sometime this year.

To conclude, here is the basis as to how Yap derived at his 5 sen target price:

“As of end-December 2020, AirAsia had a net liability position of RM1.2 bil (book value per share [BVPS] of -37 sen).

To arrive at our end-FY2021F BVPS forecast of 5 sen, we deducted forecast operating losses, included the private placement, assumed RM1 bil rights issue (1.67 billion shares at 60 sen each), and assumed RM2 bil value accretion from AirAsia’s digital businesses using price-to-sales (P/S) of five timers on the historical FY2020 sales (in-line with Expedia’s P/S multiple).”

At 10.49am, AirAsia was down 2 sen or 1.77% at RM1.11 with 32.16 million shares traded, thus valuing the company at RM4.23 bil. – March 30, 2021

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2021-03-30 22:40 | Report Abuse

laden operating environment.

MIDF, Hong Leong Investment Bank (HLIB) and AmInvestment Bank all maintained their "sell" rating of the stock, while Kenanga Research maintained its "underpeform" call

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2021-03-30 16:04 | Report Abuse

No Banks giving loans to AA.. How can the share pruce be pre covid when they are losing billions of ringgit.. Very critical..

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2021-03-30 08:02 | Report Abuse

6 quarters majing losses and 31st dec 2020 qtr was the worst at Rm2.4 billion. Don't see any light for 2021..ship is sinking...

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2021-03-29 18:09 | Report Abuse

Slow and steady win the race.. Hold tight..

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2021-03-29 18:07 | Report Abuse

AA dying a slow death cos oxygen depleting.

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2021-03-24 21:07 | Report Abuse

Price.. Sabar buddies....

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2021-03-24 21:07 | Report Abuse

Remember don't ever be control by others. Stick to your strategy on buying or selling of shares. Even warren buffet cannot predict up n down of share.

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2021-03-24 21:05 | Report Abuse

You need to know the share you buy and confidence. Otherwise you will be shaken by rumours which is very risky...

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2021-03-21 11:14 | Report Abuse

Agreed.. Buy when price is falling for potential growth stock.. If stock falls due to red flag in the company, cut loss.

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2021-03-19 09:38 | Report Abuse

Unless we are gambler not investor, then we will buy AA..

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2021-03-19 09:37 | Report Abuse

A Gambler investing in Airasia not Robert Kuok or any billionaire. Too risky.. He can throw his chip once he makes his money..

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2021-03-09 18:46 | Report Abuse

I love to see AA survive as we can travel cheap but AA needs 2 billion to survive..

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2021-03-09 18:45 | Report Abuse

Having debts with every qtr profit is okay but not having high debt and huge losses..

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2021-03-09 15:10 | Report Abuse

Wait for qtr report which has been delayed for quite sometime.. Guess another big big loss.. Careful if buying!!

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2021-03-09 13:55 | Report Abuse

Don't understand how to buy airasia share.. 5 quarters losing money and on increasing trend. Delay in realising qtr profit.. Big loss again..

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2021-03-05 16:17 | Report Abuse

Wow love to the greenery like golf course.. Hope will maintain...

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2021-03-05 15:28 | Report Abuse

Now Karim is flexing his muscle cos too many days downward trend.. Lol..

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2021-03-05 09:08 | Report Abuse

Not sure if CIMB is link with 1MDB like AM Bank..

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2021-03-05 08:59 | Report Abuse

Agreed..Payment of dividend and profit is on the uptrend for four quarters during pandemic.

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2021-03-04 21:24 | Report Abuse

As long as there is still growth in company's earning, just hold tight cos correction is normal. Unless you smell red flag..

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2021-03-04 21:23 | Report Abuse

Investing is very stressful when share is dropping, and company making good profit quartely.

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2021-03-03 09:50 | Report Abuse

You must be mentally strong to trade.. Cheers! Lastly don't listen to rumours esp from brainless /uneducated people..