If nothing to hide then just appoint an independent party to investigate lah, what is the problem? Like chinese proverbs "pure gold does not fear the flame"

Can see transaction at off market board. Actual transaction should be 140,500,000

Taiwan's Foxconn on Monday announced a partnership with Thailand's state-run energy group PTT PCL to make electric cars in the Southeast Asian country, adding to a string of such deals by the iPhone assembler as it makes forays into the car market.

Foxconn, Apple's main iPhone maker, has expanded its activities in electric vehicles (EVs) over the past year or so, announcing deals with Chinese electric-car maker Byton and automakers Zhejiang Geely Holding Group as well as Italian automobile company Stellantis.

Foxconn and PTT have signed a memorandum of understanding to cooperate in making EVs and their components for the Thai market, the two companies said in a statement, which also said that the virtual signing ceremony was presided over by Thailand's Prime Minister Prayuth Chan-ocha.

Electric car startup Fisker signed an agreement with Foxconn, the Taiwanese company that assembles iPhones, to co-develop and manufacture a new electric vehicle. Production on the car, which will be sold under the Fisker brand name in North America, Europe, China and India, will begin in the U.S. by the end of 2023

Taiwan-based Foxconn aims to provide components or services to 10% of the world's EVs by 2025 to 2027, Liu said in October, vowing to lower manufacturing and other costs for carmaking with its assembling know-how as the world's largest contract electronics manufacturer.

In its largest vehicle-assembly deal to date, Foxconn this month said it will make at least 150,000 vehicles a year starting in 2023 in a partnership with U.S. electric car maker Fisker Inc.

Small money to Foxconn, their last quarter profit already USD 1B (RM 4B). They just want to forge closer relation by buying a small stake because Dnex will one of Foxconn major supply chain partner in the future. Good move and win win for both company.

Brent crude oil price 73 and rising, just in time to reap the big reward after buy over Ping Petroleum.

The consequences of book cooking.

https://www.theedgemarkets.com/article/three-chinabased-companies-found-giving-false-financial-statements-bursa

I have been audited many times, Audit issues can be categorized into few categories. Auditor will usually sign off if those issues are in minor risk category and can be rectified by the management after signed off. These issues do not pose any potential significant risk that might jeopardize the integrity structure.

Now if those issues like wrong tel or wrong address were minor in nature then why won't KPMG sign off? Is it because they found 1+1 does not equal to 2? Most likely KPMG found some evidence of book cooking but need another party to confirm it since their reputation is on the line.

What is the point of doing business (small or big) if you cannot collect payment after delivering? Charity business?

Some similarity with this case?

https://www.youtube.com/watch?v=gDqGSmTPtOQ

Actually those audit issues are recurring issues already flagged in FY19 audit report. Based on my working experience, auditor will usually go easy for the first time but they will be highly skeptical if those audit issues are reoccurring. My guess is that those dumbass scammer directors got happy too early and thought they could escape again.


https://www.thestar.com.my/business/business-news/2021/06/05/the-essential-role-of-an-audit

Interestingly, in the FY19 audit report, the auditors had highlighted three key audit matters then and they include:

> Existence, accuracy and completeness of revenue recognition;

> Completeness and existence of material on-site amounting to RM908mil; and

> Valuation of trade receivables and contract assets valued at RM1,526mil.

In FY19, the auditors addressed these key audit matters via various methods and means to ensure the financial statements were accurately reflectively of the balances presented.

Brent crude oil current price 71.80 and rising. Good call by management to acquire remaining 60% of Ping Petroleum, definitely money well spent. Please vote to approve this acquisition if you are shareholder.

I am not an auditor but I have been audited many times. I can tell you that auditors are some of the nicest and intelligent people. They will call a spade a spade unless you can prove otherwise. Every arguments are substantiated with cold hard facts.

Integrity is utmost important in any business, cooking the book is like death penalty. Not saying that serba cook the book from day 1 but maybe all started with little cooking and it got bigger & bigger until discovered by KPMG. Not the first case in bursa and won't be the last.

Just face the fact that this is a con company. If bernie madoff can pull off the greatest ponzi scheme in history and even con his own 2 sons (later 1 would commit suicide) then why serba cannot be a con company after all the red flags are too apparent even the blind can see thru.

My take is that Serba is a half legit half con company. Somehow the department that is incharge of con got sloppy hence all the errors found by KPMG.

If i own a billion dollar business and my auditor told me that there is hanky panky. I will hire another 2 auditors to work with the original auditor so i will have 3 very solid investigation into the matter.

EPF fund manager is really dumb ass if still haven dump this con counter. Always buy high sell low with our money.

Invest if you hate your money

investors exit sinking ship Serba Dinamik and onboard in Dnex.

Even if 5-10 percent but once integrity is gone, that's it all reputation and credibility lost.

Deny indo submarine cable news
Deny SilTerra news
Deny Foxconn news

Management not very good in hiding secrets ya.

There are many Taiwan companies doing business in China and vice versa. As long this strategic partnership can be win-win then make perfect sense for Foxconn to invest in Dnex.

Agostin Antonio was mystified. A retired seaman living quietly with his extended family of 12 in a suburb of the northern Philippine city of Cabanatuan, he had no idea why a company called ConePay International had used his address. 

ConePay is one of more than a dozen curious companies identified during an Financial Times investigation which, on paper at least, appear to have done substantial business with Wirecard, a digital payments group that ranks as an elite German blue-chip institution and one of the most successful fintech businesses in Europe. 

ConePay, incorporated at the house in Cabanatuan three hours’ drive north from the capital Manila, was the source of millions of euros in commission income accrued by Wirecard’s Singapore business in recent years — revenues that the FT has discovered often lacked the paperwork to justify them and that Wirecard’s accounts staff in the region failed to collect for more than three years.

Wirecard Jan 2020 share price 130

Wirecard current share price 0.40

Thursday, 18 June 2020, marked the preliminary peak of the story of Wirecard, the German DAX-listed payment processing company. That day, auditing company Ernst & Young refused to sign-off the annual report as their hopes to find roughly two billion Euros that are missing on the balance sheet have vanished into the thin air of Manila/Philippines: The two banks BDO Unibank and Bank of the Philippine Islands where the funds should have been deposited declared in two indpendent statements that in fact they do not have any business relations at all to Wirecard.

Watch the video below, 90% similar story line.

https://www.youtube.com/watch?v=ivACzzW5wyA

KPMG audit serba so long only this year found issues mean cooking started only last year? Before that clean clean?

Last few years, all those China companies csl, xinquan, msport, cap, maxwell also practiced creative accounting and all delisted one by one. Many people got burned and lost their hard earned money.

How come Public Bank so optimistic still can give hold call price target 1.39?

There goes our EPF money

Taiwan's Foxconn (2317.TW) said on Wednesday it has formed a joint venture with Yageo Corp (2327.TW) to expand its presence in the semiconductor industry, as a global chip shortage rattles producers of goods from cars to electronics.

The supply bottleneck has led to production cuts and warnings of supply chain disruption from manufacturers across the world this year. read more

Electronics manufacturing conglomerate Foxconn, which counts tech giants such as Apple (AAPL.O) among its top clients, said in a statement the two companies will set up a new firm in Taiwan called XSemi Corporation.

"The semiconductor industry is facing the biggest upheaval in the past three decades, and the industry order will face a serious restructuring," Foxconn chairman Liu Young-way said.

"Now is undoubtedly the best timing to initiate strategic partnerships in various segments."

Foxconn said it and Yageo are currently in discussions with "several global semiconductor companies" and will soon announce more collaboration plans in the semiconductor industry, without elaborating.

The company, which has in recent years counted semiconductors among its core businesses, said XSemi will focus on making semiconductor chips, or "small IC", with average selling prices lower than $2.00.

Foxconn (Hon Hai) Technology Group is reportedly in talks for taking a certain stake in Malaysia-based Dagang NeXchange (DNeX), which owns a 60% share of 8-inch foundry house SilTerra Malaysia.

Foxconn would help DNeX expand the sale of semiconductor products rolled out by SilTerra if the acquisition talks are successful, according to a Bloomberg report.

The firm's recent announcement that it will set up a joint venture, Xsemi, with passive component supplier Yageo to develop semiconductor parts, is part of its move to enhance its presence in the semiconductor industry.

Foxconn finance department is busy preparing millions to pay Dnex once all the big bosses give green light.

Although it is small money to Foxconn but still need to get paper works and BOD approval lah.

Prepare to limit up when good news comes out in June.

All international media reported, many new players will come in to sapu tickets. Hold tight, very tight.

https://www.channelnewsasia.com/news/business/foxconn-in-talks-to-buy-stake-in-malaysia-s-dnex---report-14897778

Many still daydreaming. Signed Sinopharm agreement last year April but only hot air so far. Maybe they tried but met many obstacles so better keep quiet until all shareholders forget about this matter.

Yes control Dnex same as control SilTerra. Foxconn as majority shareholder will definitely have power to appoint their own people to oversee SilTerra. Foxconn Taiwan vs CGP China may seem like odd pairing given the hostility between both country but who cares when there are money to be made.

Limit up today, go go go.

Actually nothing to worry about, the result is within expectation.

At least there is no big losses. The big profit will come soon once Ping and SilTerra acquisitions are completed.

Ping Petroleum purchase price is fixed, so does not matter even if oil price go to USD100.

Don't spread misinformation here.

Ya right, the next thing they gonna announce is either sell miracle water or snake oil. Buy 1 free 1 some more.

Nice, I would love to apply but too bad I am in KL.

SilTerra is definitely ramping up production to meet customer demand. Bright bright future ahead.

Want this con counter price to go up very easy la, go buy their properties until no stock and need to build more. Win win mah, share price go up and you get a condo to stay hahaha.

Don't give up so early, tomorrow is a better day.

SmallFishyy correct fake until cannot fake. Will be years before those who enter high can escape from penthouse. Better cut loss to invest in some high growth industry... Fyi property development is not a high growth.

The operator is crazy, want to make price until worthless later everyone die together.

Only a good QR can save us now so pray very very hard.

What the hell is happening? Operator left the building?