...In May 2015, Pua had lodged a complaint against Deloitte and Ng for failing to conduct a thorough audit on 1Malaysia Development Bhd (1MDB) for the years ended March 31, 2013, and 2014, during which it was an independent external auditor for the troubled investment fund.

Pua said Deloitte intentionally or negligently failed to conduct sufficient and necessary due diligence and audit of the cash flow and liquidity risk of 1MDB, as well as the level three assets of the fund.

Yet to see actions on Lndon auditors on massive receivables ended up written off in a quarter.

Just another sumatec.

More than 400 m loans is enough to kill slowly. Good for speculation in ST. LT=0 as fundamentals all in red.

Why major SH is not so worry about dropping price? What are the momentum pushing them continuously working hard for more projects etc despite poorer performance?

Est Jan results poorer yoy as last Jan is quite good. Price may be pushed up before poorer results announcement.

Announced disposal of land at a profit, then only on quarterly losses. That reflects management's business ethics?

AAX boss said in early 2019 that 2019 will be the good year for AAX, unfortunately turned to the worst. Will be more convincing if disclose actions taken to address all key risks.

If perfect storm is approaching, fundamentals become meaningless at least for the time being. TP remains 2.80_3.50.

Middle east crisis, would it be a perfect storm cum opportunities.

Just wait till impairment of current assets such as receivables and stocks, then consider to trade as LT fundamentals = 0.

Est Dec results +/-15%. TP5.50_6.50 supported by reasonable dividends. More cash is needed for overseas commitment.

Another default yesterday...
To the professional auditors, professional body and authority....London Biscuit Bhd, which is facing a winding-up petition, is writing off RM363.16 million of receivables in the fourth quarter ended Sept 30, 2019 (4QFY19). How much was owed by Kheesan if any? London chips in Thai, for eg, was distributed under kheesan name if not mistaken. The Qulaity of ex auditors is certainly in question. As for the receiver, what is the basis of writing off?
Good management case study and audit case study.

Epf fund managers having different view, some bought, some sold, brokerage firms are the happiest one.

AirAsia well-geared for further geopolitical shocks — MIDF Research...... when research house said so, investors buy in?

New acting ceo, jump jump jump, delivered any positive outcome to all the companies he served previously or just a talking person?

First time drop by:

Positive... cash balance is still able to support for quite some times. "Beautiful current ratio". Small loans.
Negative... Strong political link and unfortunately is belonged to opposition. Business model outdated unless formulate a workable strategy to add value. Excessive high current assets which post written off risk as lack of info on its quality.

Unless goreng, fundamentals remain far far away unless got hidden quality assets.

Est Dec results +/-10% yoy as last Dec is quite high. Price range 2.80-3.50 supported by reasonable dividends.

Positive NTA at this price, negative NTA at this price too. Why? Bcos is just like in casino, buy big or small as far as within our own tolerable appetite.

How nice if one is an insider as it is not common here to be arrested. TP 26_31. Dec results is expected to be good.

Unless speculative play to push up, and ongoing goreng by management on its subsidiaries potential (which actually was reflected in its bottom line), ST remains dim.

Blue seas for palm oil as it fuel the flights.... great vision. 30 years ago already invented for cars but... Anyway, is good to have sweet dreams so that at least we wake up can have a sweet smile.

Believe is waiting time for cash call as cash is simply to low to fuel huge current liabilities. TP remains 12.

Dec results should up as last Dec is low base.

Good support level. TP 2.80_3.50 ST.

Fundamentals all are in red except current ratio where accuracy and quality is difficult to judge under poor disclosure and regulatory regime.

Business growth is dim under the existing management and bod as reflected in its bottom line.

Legal actions will drag for years understanding our efficiency and effective legal system. Even insider trading cases can remain unresolved for years, either intentionally or unknown reasons.

No idea why business tycoon purchased it in the first place. That's why he is a tycoon and I am a poor layman.

TP 0.01_0.02 then consider for trading only as can't hope for dividend.

Still well supported. Waiting for perfect storm opportunities.

1 cent dividend every year, that will take 25 years to recover capital. Ummm, some penny stocks may have greater opportunities, afterall is just a judgement.

..KUALA LUMPUR (Jan 3): London Biscuits Bhd’s external auditor has resigned, as the firm does not have enough resources to provide reasonable professional due care to the company and its subsidiaries.... the most unprofessional body is the professional body. If there is a common class action can be taken, minority SHs should take action challenging substantial amount of written off within a quarter.

Figures say....
.. loans $1200 million.
... current ratio looks good but no one could ascertain quality and potential written off as in few cases massive written off in a quarter, like london biscuits, which turned into negative nta.
... nonetheless nta still "looks" good and trading opportunities is there.

Penang to become a cashless state by March 2020... hahaha, real dream.

A man in his mid 50s who has never made a claim on his health insurance gets a letter from his insurance company stating that his premium has been increased by 23% for the year starting 2020..... haha, that is the way to make higher profit, higher salary etc.

https://www.thestar.com.my/business/business-news/2020/01/04/health-insurance-needs-to-be-disrupted

Good luck and stay healthy hopefully.

A man in his mid 50s who has never made a claim on his health insurance gets a letter from his insurance company stating that his premium has been increased by 23% for the year starting 2020..... haha, that is the way to make higher profit, higher salary etc.

https://www.thestar.com.my/business/business-news/2020/01/04/health-insurance-needs-to-be-disrupted

Good luck and stay healthy hopefully.

Pnb crying the most but no better choice to exit, so just continue its irrational escalation of commitment. May be it classified this stock as strategic stock

Chief laughing the most if remuneration continue as in the past.

Instead of kfc, may be should give kenny roger as it is good for poor performer to help another poor performer, lol.

Anyway, trading opportunities remains as there are many supporters.

Another trap?

From gold to limestone. May be later on is diamond. Anyway is good for goreng as fundamentals = 0 as past reflected the truth. Trading opportunities exist just wait for its turn. TP 0.045_0.06.

Believe just push up before poorer Dec results yoy announcement, last Dec is simply too good.

Looks like some companies are playing around with current assets etc as like London biscuits, eventually written off and turn into negative nta. As for this, best for trading as fundamentals all in red except current ratio which is difficult to ascertain under poor disclosure regime and regulatory regime. Good to see major SH take legal action against own company and hopefully set a good precedent.

...RM2 million was allocated for the development of 61 people-friendly projects in Port Dickson last year, said Datuk, really big deal?.... poor people. PH gov should disclose statutory body management retire benefits in addition to EPF. That is one of the root course of income discrepancies.
TP 4.80_5.50. If US crash, 4.20.

Waiting for perfect storm in US amidst historical high.

No one will exercise esos at 9 cents now as this is just for show and try to con innocent. TP 4.5_5.5 unless results improve or speculative play as fundamentals remains weak till require private placement.

Ask for $$$ via pp, this is the best thing the management knows. Also, ...Borneo Oil said it has granted a total of 747.97 million ESOS options under this existing ESOS, representing approximately 14.56% of the total number of 5.14 billion Borneo Oil shares (excluding 201.58 million treasury shares), at the exercise price of 9 sen per option, as at Dec 11.... real joke 9 sen.

SAPURA ENERGY BHD has appointed Permodalan Nasional Bhd's president and group chief executive Abdul Jalil Abdul Rasheed as a director effective Jan 1, 2020.

PNB is a major shareholder of Sapura Energy with a combined 40% stake in the oil and gas company..... haha, not asking for more $$$ again or high remuneration for everyone.

Hopeless authority and professional body which encourage wrong doing and massive write off, yet without appropriate actions. No reason that we are not top in the list of worst performance market.

.......Year-to-date, the KLCI was down 6.02% or 101.82 points and making it the worst performing stock market. ... well done, may be is a good way to minimise income discrepancies.

.......Year-to-date, the KLCI was down 6.02% or 101.82 points and making it the worst performing stock market. ... well done, may be is a good way to minimise income discrepancies.

....Year-to-date, the KLCI was down 6.02% or 101.82 points and making it the worst performing stock market. ... well done, may be is a good way to minimise income discrepancies.

...Bank Negara Malaysia (BNM) has issued its revised policy document on anti-money laundering/counter financing of terrorism (AML/CFT) and targeted financial sanctions (TFS), which will take effect tomorrow (Jan 1, 2020)....
No idea how effective is all the laws and guidelines, for sure it added extra works on reporting institutions. Perhaps should have a law requires all authorities to disclose annually on enforcement actions taken as well as outcomes achieved and cases remain outstanding to make a better country.

... Securities Holdings Bhd said today Malaysia's corporate actions in 2020 may include the privatisation of Tiong Nam Logistics Holdings Bhd by major shareholders based on the company's financial position, future cash requirement besides share price and public shareholding spread.
... when analyst runs out of idea and write whatever they want without risk.

....Ekovest Bhd has been awarded a RM100 million contract from DBKL for improvement and beautification works around the lake..... commented this about one and a half year ago and now the project is completed. No idea whether the project is worth of about 100m. For regular visitors, you judge yourself. Believe good margin.

As for local authority, it is a shame as can't even provide proper bins to classified waste, bins around the lakes are full of rubbish if you go there on Sunday morning (no idea about other times). Foreign workers will have to segregate rubbish manually which is extremely time consuming and waste of time as they suppose to maintain park cleanliness instead of segregate rubbish.

On one hand urge people to segregate rubbish and throw into the right bins, on the other hand, can't even provide appropriate bins at public park. Another few more days is wawasan 2020 deadline, looks like a sweet dream which will never come true. Still labor intensive to maintain park cleanliness. Hopefully the contract value, if any, is justifiable.

Est Jan results +/-15%. TP remains 1.80 unless someone push up or world market crash.