It is better avoid counters related to this CEO at this moment till he can handle the Serba cases wisely...

if you against EPF PNB Fund managers and IBs and other major shareholders...too bad u are loser..
If you against Bursa - regulatory , you are loser too.
If you against banks and bond holders. you are lower too..

All the best for the shareholders this company...

CEO can act alone and play the game.... but too bad you will fail....

Bankers, bond holders, shareholders need to act according to know the truth....
He can hire the lawyers to play with wording and rule...
but bursa has the rule to maintain fair market not ur mother and father company act as what u want...
Tell us the truth or resign....

No Mercy against for those against the game rule....

Bursa or Investment banks need let go the rotten egg or naughty boy to maintain fair market practice... i support Bursa act tough of those naughty boy to maintain integrity of Bursa....
Continue to suspend Serba till SIR release...

Investment banks who loan money to him and with margin acc also feel safer to get back money asap.... u are smart but they prefer to get back money from you..you can do wat ever u want .... Investment banks prefer side Bursa cause it cant against bursa just for u...

Bankers will look for Serba management soon....
You can be arrogance with bursa but i need my money back....

Dont play with Bursa even though i know u are smart and arrogance...

Seem like Serba will be suspended till SIR release......
Bursa is so angry and will not let him act so arrogance and act like his father company...
Bursa need to protect interest of small shareholders and not let him act as what he want...

CEO prefer to focus on business as usual so that he dont need to monitor the share and Investment bank wont chase him for force selling...
The best way is to suspend the share trading infinite so that the whole management focus on business not looking i3 comments...

No trading mean no margin call or force selling... i think is better suspend forever...

If SIR not announce, Serba share will continue be suspended, then it will have no margin call..
You need to know CEO has better picture for who situation...
In order to avoid margin call, he need to do something....

EY SIR report is too plain...
It need to add some Salt, Vinegar, Sugar... May be some chili powder added with some deco for presentation...
therefore it take longer time to announce....

SIR need to be cooked before release so that it look nicer...
Whole management team are busy discussing how to cook this SIR now ...
Be patient, SIR will be ready to be served soon...

A logic question for Trade and other receivables for Serba...
with Not past due receivable > than quarterly revenue RM

QR ended 31/3/2021

Revenue RM 1.38 bil..
with Not past due receivable > than revenue RM

B6. Trade and Other Receivables
The Group’s trade receivables ageing analysis as at 31st March 2021 are as follows:
In RM’000 31/03/21

Amount RM’000

Not past due RM 1,619,008 (RM 1.62bil)
0 – 30 days past due RM 60,201
31 – 120 days past due RM 28,081
Past due more than 120 days RM 54,261
Total Trade Receivables RM 1,761,551

Other Receivables RM 159,828

Total Trade and Other Receivables RM 1,921,379

The Group normal credit period is between 30 to 90 days from the date of invoice. Other
credit terms are assessed and approved on a case-by-case basis.

QR ended 30/6/2021

Revenue RM 1.26 bil..
with Not past due receivable > than revenue RM


The Group’s trade receivables ageing analysis as at 30
th June 2021 are as follows:
In RM’000 30/06/21
Amount
RM’000

Not past due RM RM 1,520,599 (RM 1.52 bil)
0 – 30 days past due RM 32,147
31 – 120 days past due RM 82,839
Past due more than 120 days RM 120,498
Total Trade Receivables RM 1,756,083
Other Receivables RM 166,384

Total Trade and Other Receivables RM 1,922,467 \

The Group normal credit period is between 30 to 90 days from the date of invoice. Other
credit terms are assessed and approved on a case-by-case basis.

Round 1 Serba vs KPMG..
I bet for item below the winner is KPMG....

SIR item required E & Y to verify...

(C) Further information relating to customer and supplier in Bahrain

Office address cannot be located on physical site for the supplier and customer

KPMG has noted fax contact number of the customer as indicated in the official website is registered under one of the group’s employee but using ‘Truecaller’ application.

Based on latest QR, revenue contribution from Bahrian look quite bad....drop 90% from last Q...
What happened to Bahrian Customer...
Can make a call to the customer to know the reason...
KPMG suspected the customer located at Malaysia...

QoQ. Core profit was down -87% due to weaker performances from all of its business divisions, peculiarly its O&M segment. Regionally, we note lower revenue contributions from Malaysia (-6%), Saudi Arabia (-67%) and Bahrain (-90%).

Why Serba want to acquire a supplier and customer at Bahrain ?
Sound very suspicious...SIR report will know...

It is also looking into purchases from six local suppliers; IT contracts and transactions involving six customers and two suppliers, as well as the revenues and costs involved; and the transactions and balances involving one customer and one supplier in Bahrain.

https://themalaysianreserve.com/2021/09/23/serba-dinamik-looking-at-fast-cash-generating-projects/

SIR item required E & Y to verify...

(C) Further information relating to customer and supplier in Bahrain

Office address cannot be located on physical site for the supplier and customer

KPMG has noted fax contact number of the customer as indicated in the official website is registered under one of the group’s employee but using ‘Truecaller’ application.

https://www.theedgemarkets.com/article/kpmg-raised-audit-issues-transactions-involving-over-rm3-billion-says-serba-dinamik

Cumulative earning of Serba is almost equal to Trade receivables...the amount close to RM 2 bil.
Serba is not good in collecting money from clients or does the clients receivable exist ?

Since the Serba counter had been suspended... Those shares which traded within T + 2 how ya..
Those pp had sold the shares cant get the money and those who bought also with capital stuck at there..
This last minutes suspended has cause quite amount of capital stuck there pending further announcement before trading again...
No SIR announcement, no trading for Serba
After SIR announced, it could stop trading for one more day..

Kindly be advised that Bursa Securities had today issued a directive to SERBADK to:

(a) make an announcement on the findings from the Factual Findings Update on the Special Independent Review by 26 October 2021;

(b) announce Bursa Securities’ directive immediately; and

(c) impose a suspension of trading on SERABDK’s securities on the next market day after the directive deadline, in the event of non–compliance to the directive.

https://www.bursamalaysia.com/market_information/announcements/company_announcement?company=5279

Serba plan to raise debt to cover old debt... too bad KPMG spoilt their plan... current bond only left 30% plus of the value... no body will buy new bond cause they loss huge fr current bond...

One thing for sure Serba left limited time to settle the over due debt, Bond, loan and further more it need 400 mil cash to burn evey quarter and QR profit doesnt look good to cover the loan payment.

no doubt, Serbak need to find way to raise billion from the market...

Karim just started the game with first announcement before SIR... more to come till SIR.
Second half session even more exciting....

Last Qr result showed balance sheet is super weak..
Inventory - RM 2 bil
Trade receivable RM 1.9 bil
cash left RM 497 mil...only can burn for another 1 Q.... 2022 need cash for operation and also need cash to pay debt... where serbak dig the money from....

Cumulative earning of RM 1.9 bil could mean that what serbak earned was wat customer owe Serbak...

First surprise fr Karim CEO was cash out all warrants before SIR... what is his next step, wait for surprise announcement...

risk of holding serbak shares over weekend could lead to not able sleep well due to too many uncertainties bias towards pessimistic.
Second half session today most likely will be cash out or profit taking or cut loss session...

There is high chance that Serbak need a massive right issue shares to raise more cash...
Current cash position running very low at the same time, it keep burning cash every quarter, need to pay due debt soon, high inventory and receivable ... Quite pessimistic for Serbak at current position..

CEO karim could have received the SIR, pending official announcement and he decided to run first...

Judgement day SIR report for Serbak... less than 10 days from now...

I think is Funds and institutions are unloading Serba now not retail investors...
Retail investors are the waiting for SIR and always the last to sell at down trend...

Let see some highlight with big change for Serba QR result...

Bahrain - Revenue
QR end 31/12/2020 - Revenue RM 66 mil
QR end 31/3/2021 - Revenue RM 129 mil
QR end 30/6/2021 - Revenue RM 12 mil...QR

KPMG got red flag at Bahrain.... check out KPMG red flag.

ICT revenue...
QR end 31/12/2020 - Revenue RM 113 mil
QR end 31/3/2021 - Revenue RM 30 mil
QR end 30/6/2021 - Revenue RM 11.8 mil...

KPMG got red flag at ICT business... check out KPMG red flag.

Cash on hand....
QR end 31/12/2020 RM 836 mil
QR end 31/3/2021 RM 1 bil (w private placement)
QR end 30/6/2021 RM 497 mil

Inventory
QR end 31/12/2020 RM 1.66 bil
QR end 31/3/2021 RM 1.88 bil
QR end 30/6/2021 RM RM 2.1 bil

Trade receivable
QR end 31/12/2020 RM 1.865 bil
QR end 31/3/2021 RM RM 1.921 bil
QR end 30/6/2021 RM 1.922 bil

Net profit margin....
QR end 31/12/2020 11%
QR end 31/3/2021 8%
QR end 30/6/2021 1.01%

How the company pay debt with such little profit margin and so low cash on hand ?

Most likely all the IB downgrade the earning for Serba for the next few yrs...
SIR... more drama coming out...

QR end 31/12/2020

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3133994

QR end 31/3/2021

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3169980

QR end 30/6/2021

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3196801

Is Serba’s rebound for real or a case of dead cat bounced?

Whatever said and done, KnifeEdge summed up the fate of Serba Dinamik nicely in a reaction on the I3investor platform:

“Does yesterday’s breakout signal the very beginning of the end of the entire saga? That means all have been verified or compromised and sorted out and we are never going to see prices this low ever.

“Or is it a prelude to something beyond our expectations before the shock & awe announcement soon? Before the cloud clears out, it is deemed too high a risk as the wind may suddenly be U-turn sharp!

“Only the brave hearts or experienced traders with good capital risk control dare to chase for the potential high gains!”

https://focusmalaysia.my/is-serbas-rebound-for-real-or-a-case-of-catching-falling-knives/

KPMG has flagged out this problem in the previous AR but this year the amount getting bigger.. KMPG getting worry... You look at middle east customer name list and check in the internet, you should know the outcome of SIR report not guessing on the SIR report.
UOB Kay Hian Research recently set the TP for Serbadk at 20 cents should come with reason...

CPO futures close lower on higher stockpile. CPO could continue under pressure next week due to higher than expected palm oil stocks in Aug 21, even higher than last yr Aug 2020.

Overall, palm oil stocks grew 25.28% to 1.87 million tonnes from 1.49 million tonnes previously.
On production, MPOB said CPO output increased by 11.8% to 1.70 million tonnes against 1.52 million tonnes in July, while palm oil exports eased 17.06% m-o-m to 1.16 million tonnes in August from 1.40 million tonnes in July.

At the close, the CPO futures contract for September 2021 fell RM76 to RM4,574 a tonne, October 2021 dipped RM105 to RM4,413 a tonne, and November 2021 and December 2021 eased RM114 each to RM4,278 a tonne and RM4,184 a tonne, respectively.

https://www.theedgemarkets.com/article/cpo-futures-close-lower-higher-stockpile

Awang force selling just a starter for you to warm up stomach.
if his buddy trigger force selling, the volume will be a big impact to market..
If true , that will be the main course of the force selling...

Logic question for you to digest...
Awang owns so many listed companies shares, why the force selling only at serbak ?
is it a real force selling or reason given to unload shares to avoid panic in the market due to director selling ?

Awang in focus today,,,
Awang Daud forced to sell another 1.8 mil Serba Dinamik shares

https://www.theedgemarkets.com/article/awang-daud-forced-sell-another-18-mil-serba-dinamik-shares

Awang kick started the next round of force selling before SIR and QR.
Next victim could be his buddy ?

Continued profit growth fails to support Serba Dinamik share price, why?

Weak Balance sheet...

Inventories - RM 1.88 billions
Meanwhile, inventories swelled to RM964 million or over 100% in the period, bringing the total to RM1.88 billion. It was up by another RM217 million in the latest quarter.

Trade Receivable - RM1.92 billion
Trade and receivables expanded by RM665 million or 53% since the end of 2019 to RM1.92 billion as at end-March. However, the amount was up at a much slower rate of RM56.3 million in the quarter under review

https://www.theedgemarkets.com/article/continued-profit-growth-fails-support-serba-dinamik-share-price-why

RM 7.7 billion Block 7 investment project most likely will not able to kick off...

In March, LIWA transferred its stake in Block 7 to EFIRE Capital, which is owned by SDIL and LIWA on a 51:49 basis, Serba Dinamik said.

According to Serba Dinamik, it was roped in as a partner in EFIRE by LIWA — but did not elaborate on what is the consideration from Serba Dinamik to take up the partnership.

The latest structure means that Serba Dinamik has effective control of 48.51% in Block 7 through EFIRE.

https://www.theedgemarkets.com/article/serba-dinamik-ceo-block-7-deal-not-related-party-transaction-i-didnt-take-shares-personally

Last yr Block 7 investment LLC awarded Serba Dinamik IL for RM 7.7 billion projects and now Serba Dinamik directly owned Block 7 investment, Does Serba have capital to kick off this project ?

Serba Dinamik received free shares of Block 7 Investment with no consideration stated, does it mean Block 7 Investment LLC is Zero asset company worth nothing ?

I just read the last QR report for Serba Dinamik, this event happened in March , it didnt state changes above which is considered significant changes in composition of the Group.

EFIRE CAPITAL HOLDINGS is A joint venture of Liwa Investment Holding of Abu Dhabi and Serba Dinamik Holdings Limited of Malaysia, the company is committed to investing in innovation, technology and digital transformation and installing a worldwide connected infrastructure of hubs.

EFIRE CAPITAL HOLDINGS LTD also known as EFIRE CAPITAL or EFIRE is Investment company is incorporated in 2020.

https://efirecapital.com/about-efire-capital/

QR report at section below didnt mention any changes on the structure above..

A9. Changes in the composition of the Group


How far RM 7.7 billion project can go and the plan still pending regulatory approval.
Does Serba have enough capital support this project.
Billion ringgit bond will expire by next yr, Serba still need to find way to settle this going to expire bond which price USD 38

https://www.bondsupermart.com/bsm/bond-factsheet/XS1900582476

IN RESPONSE to the legal action brought by Serba Dinamik Holdings Bhd, KPMG PLT has filed a defence by seeking to strike it off as frivolous and scandalous as well as an abuse of the court’s process.

https://focusmalaysia.my/has-kpmg-walked-right-into-serbas-claim-in-its-statement-of-defence/

Latest contracts won didnt have middle east contracts..
Middle east contribute 2/3 of revenue for Serba...
how come suddenly disappeared like Jho Low...

Sapura E got RM 1.2 bil contracts won....
How about Serba Dinamik, suddenly contracts win disappeared, no more new contracts win so long. No contract win could cause lower revenue contribution to Serba in future...

Below 0.4, another round of force selling for Karim ?
Only retail investors can help him to avoid another round of force selling and fund & Institution will continue stay sideline till auditing completed...

Who is the current biggest shareholders of Serba - Retail investors.
Serba need more retail investors to push up more.
May be Karim should buy back force selling shares to push up share price further...

【世霸审计疑云Part72】大户怕烫手急抛售 散户6月趁低净买世霸5.8亿

（吉隆坡6日讯）5月底爆出逾40亿令吉审计疑云的世霸动力（SERBADK，5279，主板能源股），在6月间惨遭机构投资者净抛售6亿9850万令吉，反之散户则不亦乐乎地“接盘”，净买入该股5亿8230万令吉

联昌国际投行研究的资金流向报告显示，单单在上周的5天交易日，散户就一共净买入了世霸动力1亿960万令吉，而机构投资者则净卖了6270万令吉。

https://www.enanyang.my/%E8%B4%A2%E7%BB%8F%E6%96%B0%E9%97%BB/%E3%80%90%E4%B8%96%E9%9C%B8%E5%AE%A1%E8%AE%A1%E7%96%91%E4%BA%91part72%E3%80%91%E5%A4%A7%E6%88%B7%E6%80%95%E7%83%AB%E6%89%8B%E6%80%A5%E6%8A%9B%E5%94%AE-%E6%95%A3%E6%88%B76%E6%9C%88%E8%B6%81%E4%BD%8E%E5%87%80%E4%B9%B0%E4%B8%96%E9%9C%B858%E4%BA%BF

To certain extend Karim need to create a better or more positive news environment to prevent share price further which could trigger more force selling for his shares.. forget about buy back shares , he need to do more to prevent more force selling...

There is no announcement for contract is last Q for Serba which is considered not normal for 1 Q. Last Q result showed first disappointed of QR, this is just started to see lower revenue result, a downward trend for growth or an adjustment for higher revenue in 2020?

Who is the biggest serba owner now...
i think is retail investors.
KWSP & PNB selling and Karim selling Awang force selling

Serba Dinamik was retail investors’ top net buy stock on Bursa for week ended July 2 — CGS-CIMB

https://www.theedgemarkets.com/article/serba-dinamik-was-retail-investors-top-net-buy-stock-bursa-week-ended-july-2-%E2%80%94-cgscimb

Thanks to share price push up recently, Karim could have less force selling.. let see any more announcement for force selling.
Karim stated want to buy back more shares.. if he got money should top up more money in the margin acc to prevent force selling instead of announce publicly will buy back shares.

Still waiting for update fr Serba on the appointment of EY and new independent directors...
Most likely afternoon is a sideway trading since no update yet.

https://www.theedgemarkets.com/article/serba-dinamik-told-comply-bursa-malaysia-directive

Should have > 1 bil shares transacted for today...