Gerrardo Maybe they found out that KPMG's process is actually the problem.

Hope we can get info from any of those 2 companies


KPMG, EY, PWC, Deloiite, BDO all same process.. its called auditing process.

Same surgery method for bypass... whichever hospital you go to..

Jerry20 Bro..public bank just gv target price but for investor n seing trader like epf…retail just can hold 1year? So everyday kompang today LU until 1year…hahahahahah

not 1 year.. pbb say hold till 2050

siaokar Suing will only drag shit deeper and before they knew it, sukuk has matured and when they have no money to settle the debt they will use auditor as the reason for their own failure.
Cunning move but not smart enough.


When left with only 1 choice.. what can SD do? all jalan is closed

i think i sue JPJ if my son fail driving test

dompeilee Sue also useless...none of the former big shareholders will be back anytime soon

Correct... pity shareholders..SC should look into this from this angle.. they are entrusted to protecting the rights of minority shareholders

InsiderShark @Huangbk72

Exactly.... just get an independent auditor to verify. Maybe make it 2, EY and PWC, and if both say no problem, then KPMG lose big time....

but no... go sue...

coz got many things to hide, need time to hide.

BIG YES to this move.

Look at the writ of summons.. its basic auditing dispute.. SD can even engage PWC, EY and DELOITTE.. make it rock solid proof.

Have proof then sue.. then sure win..

ggcomliao Huangbk the first kpmg auditor to defend themselves, Bravo mr huang

i see you working in SD too... defending the indefensible

winsteady many people just misunderstand. sd sue kpmg for negligence, not true or wrong fs but negligence. if kmpg do not reply or coordinate with serba for 59days to solute the matters, it means kpmg is negligence!

Haha.. if you know audit process.. this 59 days refer to the period that KPMG is refusing to accept the explanation given by SD.

KPMG is playing hardball this time. See who blink first. I see SD blinked first by suing ..

Again.. so easy to prove who is right and wrong.. get another auditor to check.. whats so difficult?

Now waste money feed lawyers

Still have people asking for KPMG public response on audit details.. They cannot say anything la.. got rules governing this

The 4 issues raised by SD in writ is rudimentary. So easy to get another auditor to verify.

Can’t understand why not get EY to confirm SD is correct? Then share price recovers, then shareholders happy.

Looks like SD is the party now wanting to depress share price and prolong the agony.

So easy to resolve, makes it go round the world

@keown83.. agree.. its all about resolving audit issues and going though legal channel prematurely will hurt shareholders. It is totally irresponsible for SD not to appoint EY or PWC or Deloitte to confirm findings.

ggcomliao huangbk72 u also spent days saying will LD, where? Dont syok sendiri

Post 1 of my comment saying will LD... try that

haha.. now LENO list is getting clearer and more detailed

ggcomliao kpmg is using truecaller dumbo huang

u saying this because SD says so?? SD says appointed EY. .u also spent days saying this.. now also not true..

SD says use only Truecaller.. and people here believe.

SD says appointed EY.. people also believe..

Speechless

keown83 @Enilec Mak still the same issue, INTEGRITY MY ASS..KPMG is not clean..full of shit also..meaning that with a sum of money from some party who have some agenda on the said company that KPMG is in it, KPMG can deliberately making the company smell flower or smelling shit..they can become a puppet of some people who can pull the string

you still put your trust on this auditing firm regardless if they told u the company they audited post strong profit or smelly shit? if me, i stay away from this auditing firm as they obviously can be paid by anyone to play any agenda they wish

Then pls stop investing in listed companies, invest in FD better.. in fact.. all use auditors.

If i didnt read it wrongly.. the legal suit is mainly targeted at the auditing process.

Why not get EY in as suggested by KPMG and relook into this??? All these are sooooo SIMPLE to resolve.. either KPMG wrong or right will be proven

retailbroker99 But suing auditor is something that people have done before

Which auditor not sued before? We are in corporate world.. everyone is entitled to a legal suit.

But suing for right or wrong reasons, thats another question

retailbroker99 https://www.ft.com/content/7f0065ac-1853-421b-9b21-cfdd2fed289f

https://www.ft.com/content/3b10ca83-7818-46d5-b492-8c86857ebd33

https://www.theedgemarkets.com/article/mof-looking-1mdb-settlements-kp...

some cases where KPMG kena saman..

Im talking about client suing KPMG.. only 1 case found? >>KPMG in UK sued for £6m by property company Mount Anvil

TalkC EY didnt even release result and Serba sue KPM6.. If EY also have the same outcome as KPM6 also kena sued? LOL... This time really to avoid margin call.. 10 sen otw way...

U didnt get memo ?? EY not appointed. Haha

lapidmalik90 I setuju with retailbroker99. KPMG was sued multiple times globally. Which means suing auditor is something that company has to do to clear their name.

i cant find le.. can help post link client suing KPMG?

Interesting... interesting indeed. Means all sound from empty cans after all.

Either dont dare to appoint another independent auditor or no auditor willing to take up this job.

Wirajati Only people in audit understand this, just citing our fellow fren SN

Haha... agree..

But the main point is....

Clients dont sue Auditors.. its the shareholders that usually sues Auditors for breach of duties.

https://www.theedgemarkets.com/article/deloitte-sued-over-alleged-role...
22/06/2021 7:29 PM

popo92 "SDHB’s contention that KPMG had failed and/or neglected to complete the audit report until and unless a 3rd party independent reviewer is being appointed and complete the findings as raised by KPMG. Ultimately in June 2021, KPMG had suddenly changed their stance."

This statement gives much clarity. The timeline to fulfill auditors request is limited. They wont give months for clients to answer. If by June 2021, no effort was undertaken, then change stance.

Hail Mary move by SD.. hope something positive turns up.

Im surprised to see the suit is based on negligently red flagged issues. This is the job of auditors to find dubious transactions.

Possibilities link to pandemic outbreak and movement control imposed in most countries. Have they { KMPG contacted, visited or interview the parties individually} ----
This lagi surprised. Covid travel restrictions doesnt apply to big auditors like KPMG.. they have so many affiliates in Middle East that can do the grunt work. KPMG Bahrain has 2 offices dey.

To resort to this move, SD must be running out of ideas when KPMG is playing hardball.

Before crisis.. all is well at SD

Once hit by queries by KPMG, all the dirt comes out. Can expect more hanky panky discovery later

goldenluck16 Block 7’s ownership is EFIRE Capital Holdings Ltd, which is owned by LIWA Investment Holding . Who is the Vice Chairman of EFIRE CAPITAL. PLEASE CHECK.

Many industry ppl knew this bro... left hand to right hand.. haha

lapidmalik90 My sources say he resigned because he needs to care for his sick wife...


I think you need to ask your sources this....

Why resign and not retire?? At his age, this is likely his last company.

Resign and lose all benefits, in return, gets back integrity. An action that shows ex-chairman disapproval of this fiasco

Retire with benefits, in return, money solves everything. An action that shows ex-chairman approval of this fiasco.

The conduct of ex-chairman is clear and loud. Market will respond accordingly

Wah.. steadypunpipi

U know the new and old chairman personally? How u know and judge who is better ?

Chairman resigning
EPF further disposing
Pending audit issues

All signs pointing to KPMG audit issues are real. EY will confirm KPMG findings: Period

Surprised to see people promoting this counter:

CANON911 Who's gonna trust KPMG if you remember the 1MDB issue...

1MDB issue involves KPMG, EY and Deloitte.

So how? dont trust EY also.. later dont trust Deloitte?

Once you start lying, you need another lie to cover 1 lie and more lies to cover more...

As i keep stressing, EY will confirm KPMG findings.

Wait for announcement before even considering to buy this counter. Once impairment hits, all the strengths of SD will vanish.. showing its a company living on borrowed money

@Windy1974 Huang. I have seen some of your comments. Obviously you know what you are talking about.
Unfortunately in life, many blame others for their failure but not willing to improve their own knowledge and capabilities. Failures been decided by their attitudes

Own failure is self inflicted.. worse kind is dragging others to fail with them

my 1st posting in this thread.. why still buy call?

Till today no one can tell me this simple question. I see all red lights in this counter.

lol Mabel... thats not an answer..

Again pls..

Question : Based on what logic downstream business not affected by oil price?

@ggcomliao -- u talking about you nuts in your pants?

@Windy1974 - can see you are not taking sides.. but facts are needed like what you said.. if not, too much misinformation.

for me.. i have worked with many auditors during annual audit process...cant believe some of the things posted here too.

@Windy1974

Dont think Mabel will reply to your question clearly..

Because of 1MDB..

Big 3 can close shop

1) KPMG
2) EY
3) Deloitte

The potential ending doesn’t even fall into speculative band… market has responded by dropping 70%.

There is 0% possibility EY will dispute KPMG findings…

Later can appoint Deloitte to audit EY findings, let this matter drag on and on.

The writings are on the wall, whether u choose to see or not, it’s your choice

josephn Lol, that is impossible, Dato Karim and big shareholders will cry the loudest, not you

Remember they purposely drive down the price.. this is the critical point as they know the value of the company is higher.

Take private:
1) Break up the company and go separate listing under IT, O&G, etc
2) Keep the company intact and relist in 2 years...

All benefits Karim

Conspiracy theory

SD and KPMG are working together to drive down the company price. Later SD will announce taking this company private at RM0.30 per share.

Who benefits? haha

lol to the conspiracy theorist Orlando Oil.

It’s A to B to C in this situation.

By the way, SD chose to blow up this issue in public. KPMG only reported this issue internally

Pure nonsense.. auditors never ask for change in reporting period. That’s why they put the whole team in a client place working overtime if necessary to complete the work.

SD wanted to change the reporting period to buy time.

KPMG has no authority to ask for change. PERIOD

Every auditor that goes in for annual audit works with the company finance department. Can say they are parked there for days going through documents

Once discrepancy happens :

1) solve with finance department
2) unresolved, goes to company management
3) still unresolved goes to audit committee
4) no solution, won’t sign off

This problem with SD started wayyy back during audit months ago.. to claim they didn’t know why KPMG goes directly to audit committee is hilarious

Piranha888

Auditors always win at the end.

LuckyBertuah
Koyak dah ke serbadk?if want to koyak,kasi koyak besar la...harga seposen ke...if dulu,need RM320,000 to hold 2000lot at Rm1.6...if now go to seposen,just need Rm20k to hold 2000lot..if really go to seposen,i will buy 2000lot & hold...ding dong ding dong until case settle..during thats time im live in imaginary life holding RM320K stock...Hidup sukar,at least dapat la hidup dlm mimpi yg indah

Haha..once EY confirms KPMG findings.. no way can go back to RM1.60.

Stating the facts that this is fraud accounting are not poison.

Poison are people still advocating buy call.

Buy now and hope you are not in the room when the sh1t hits the fan.

Its definitely ok if 50/50 % chance either way.

With Fraud accounting, its heavily skewed towards further downtrend. Then its not ok


SincereStock thanks for telling me ya leno, so now 0.635 kalau fraud jadi 0.15 = lose 0.485
tapi kalau no fraud 0.635 jadi 1.60 = win 0.965

macam ok wor