The patient will be rewarded

@treasurehunt EPF finished dumping

Time for TAANN to go back where it belongs...>RM3.00

Why, you say?

Because the upside potential is huge

Usually when ikan bilis investors give up

Is when sharks start their work

I always go contrarian

This strategy rarely failed me

Congrats to loyal holders of TGUAN!

EPF need money to pay i-Citra, i-Sinar, i-Suka, i-Cinta, i-Bini...

Fuiyooooooooooooooooooooooooooooooooooo

My take on TGUAN - hold

Don't trade for the tiny weeny trading gain

Thanks for the offer

I plan to hold long as one of my dividend yielder

So no need for deep analysis :)

KFC voucher was during Quill days, right?

I'm also holding from since Quill days

Hold this stock patiently

That Huang joker is still here hahahahaha

Taliworks is not a trading stock la

Dividend churner

Really sell on news? Hmm...

Why so shortsighted

Potential 1B revenue company here

Long time no see, auditor!

Glad u doing well

Woohoo

The relationship between this stock and EPF is funny

Almost every time EPF sells, price will go up

When EPF keep buying, price go down

???

Where is auditor? Hmm

Today got hope...

@ageetkumar

Give u a simple illustration (in real life, more complicated)

Build a toll road RM100 million
Concession period 10 years
From 2021 to 2031
Year 2020 u spent RM100 million for constructing it

The RM100 million cost, is depreciated over 10 years
RM10 million as expense in P&L every year

Year 0 spent: RM100m
Year 1 collection: 15m
Year 2 collection: 12m
Year 3 collection: 13m
Year 4 collection: 14m
Year 5 collection: 15m

Year 1 profit: 5m
Year 2 profit: 2m
Year 3 profit: 3m
Year 4 profit: 4m
Year 5 profit: 5m

So, that company can distribute more than profit as dividends (e.g. RM12m as dividends for Year 1). Those are free cash flows.

The basics is like this.

Hence, Profit RM5m (see year 1)

But can pay RM12m as dividends

No problem at all

Imagine u build a tolled road or a water treatment plant

U spend millions to build it - one big chunk money spent at Day 0

Then u get to operate it for XX years and earn the cash flow over XX years - continuous cash inflow over the concession period

So you get to distribute the net cash flows as dividends
Accounting profits up/down will not impact the dividends

The principle is like this

@Oxytocin because TALIWORKS cash flow from concession business

Accounting profits =/= Net cash flows

change.org is useless for anything to do with Malaysia la

@Asia88 add back all the dividends collected to assess overall profitability of holding the stock

Share with you guys what it means to work with "Top 4" audit firms.

Technically, an auditor's job is to audit your accounts, not do your accounts.

However, most if not all topmost audit firms, they are so rigid in that they have an almost standard format of audited accounts that they want. Sampai some specifically want it to be in MS Word. You do in Excel, you do in your format, even though u comply with accounting standards, they don't want. They want you to do EXACTLY in their template.

Whereas for smaller or medium-sized firms, client do their own account, in their own format, janji comply with standards, they just audit, and sign off.

Top 4? Sampah. Rigid and bodoh.

MCO smoked more

83? Cannot la, 93 boleh la

I still think people will eventually stick to traditional cigarettes

There's nothing like lighting up a cigarette and see it burn down

@Begineer you go calculate the dividend yield yourself lo

How do you guys find this result? Steady, but dividend reduced for 2 consecutive quarters. Hmm...

Takeover aborted ka? Market seems to react like it

Wayang ke?

hahaha Kenanga upgaded TP

Hi auditor! Long time no c

I actually expected only 20 sen. 24 sen is a big surprise

Waiting for auditor consultant to give his words

Good enough

Never ASSuME things.

So far all we have are allegations.

And even a Serba outsider, but industry insider like me can counter them all with logical explanations.

When you ASSuMe things, you become bodoh.

UP announced wonderful Q2 results:

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=214862&name=EA_FR_ATTACHMENTS

Jjchan thank you for your analysis

Just accumulate, its undervalued now

PE high is not important

BATM is more a trading co than a manufacturing co now, as all ciggies are imported now

It can distribute almost 100% of its earnings as dividends

Hence we should value BATM on dividend yield

The downside risk now is like near zero.

1 shark = thousands of bilis

Now Serba is supported by thousands of bilis

MCO/FMCO hits the rakyat bad, yes. But, many are still doing okay.

Let's say a few hundred, or even a few thousand bilis have to sell their Serba holdings. How much impact can that be?

But, once the audit issue sees some positive light, sharks and institutions will return.

Just 1 shark alone good enough to move up Serba

Risk vs Reward

U tell me la

A has expertise in X field
B has expertise in Y field

A and B have common directors

A & B JV together to tender for a government job

AB JV once got the job, subcontract to A and B

A subcontract to its wholly-owned subsidiary, A2

Of course you will find the name of the same director(s) in
A
B
AB JV
A2

Problem? This is common.

@Profit77 +100

That was exactly what I have been saying.

Some managers/bosses would sit down nicely to work out with the auditor, even if the auditor was wrong and/or rude.

Some managers/bosses, even if the auditor was correct, if the way of asking/questioning was wrong/improper, they will show them the door.

@getonwithit by right with all the MCO/FMCO/EMCO, smuggling should not be possible.

If smuggling of these illicit/contraband ciggies is possible, then that explains how all those foreign variants of Covid-19 reach our shores.

Yala, China is using their own vaccine, yet they are doing fine now.

In the Western world, there is continuous media war over Pfizer, Astrazeneca etc. It's all about the money.

Just take whatever vaxx is available to you, and most importantly continue to observe physical distancing and mask wear SOP until there is mass immunity.

The West is too complacent in doing away with mask requirement and distancing rules too fast, too soon.

Well you know, ang moh ma. They always think they're the best, the invincible. Let them die la.

Until and unless Serba is proven guilty, I refuse to talk bad of it.

So far all of the "crimes" that it is accused of, as an industry person, I have logical explanations for.

"Kalau tak pasti, jangan kongsi"

Yes! UP is a wonderfully managed company

@unomi12 ya la

If client level, it could be
Ultimate client > Ali Baba > Serba

If customer level, it could be
Serba > Ali Baba > Vendors/Sub Contractors who are actually doing the work

No Ali Baba, no contract. Simple as that. You want the contract, you must involve the Ali Baba, give them a cut of the $$$.

People who have actual working experience in big projects esp those that involve governments and GLCs will find this perfectly normal occurences.

Hint - they could be either proxy to royalties, crony company, and/or empty shell company of politicians or civil servants

Yet, they are REAL entities, doing real jobs, or maybe Ali Babas. But, Ali Babas are also real, just that they take a cut of the contract and then sub-contract to others. It doesn't in any way make them, "fictitious". It's all legitimate contracts, business deals.

If this is happening in Malaysia, what makes you think they cannot happen in the Middle East and rest of the world?

Welcome to the real world, people.