Fuiyo 2.80 mau mari dah

@Lanmum meaning his prophecies will come true...after a while? hahahahaha

Yea UOA is a good dividend stock

@linda77 +100

Whether syndicate or not, I only remember his buy/sell calls usually lead to Holland hahahahaha

UOA not really very luxury... they're more like middle to lower upper class.

One thing about them that is hard to beat - reputation and product quality

And they're damn cash rich!

@Lanmum I've been a loyal shareholder of UOADEV for some time already, you no see me talking c0ck on it only hehehe

IMHO there are times to hunt for bargain

And there are times to hold on to what you have and wait it out

And there are times to sell your profitable, overvalued holdings

I think now we're in Stage 2 above, at least for my holdings la. Cheap bargains dah takda la I think.

ABC Sdn Bhd in SSM

On invoice they write ABC Sendirian Berhad
Or ABC S/B on letters and e-mails
Or even ABC Sdn Berhad

Dunno how many times I see all this hahahahaha

@probability
<<that junior auditor argument is because of invoice reg no requirement..>>

I regularly have to log in SSM website myself to search out suppliers punya SSM number...to update my accounting records.

To put things in real world scenario.

Company ABC's business address is in XXX in KL.
Company ABC's registered address (Company Secretary's address) is in YYY in Selangor.
Now we're in MCO/CMCO/FMCO.
Most if not all are on WFM mode.
All communications are by mobile phone calls to the person(s) in charge or by e-mails.

If you send fax or letter to any of the addresses I mentioned above, you think you will get a response?

@probability

You don't know the SOP of auditors. They don't want the auditee@the client to be present, in order to obtain their so-called "independent verification", their letter/confirmation request has to be sent by themselves i.e. the auditor, direct to the confirming party (the clients and/or the suppliers).

I personally having problem with my auditors now whereby they couldn't get my banks to reply with confirmation, 2-3 of my banks. Problem is here - that 2-3 bank accounts I have already CLOSED. Audit confirmation costs money (bank will charge money for it). If I no longer have banking relationship with the bank, the bank wanna debit the charges from where? I literally have to shoot my auditors ("Tell you what, the banks ain't gonna reply"), giving them the last month bank statement, my letter addressed to the bank requesting account closure, and proof that the account balance have been transferred to my other remaining bank accounts.

<<in summary...i see auditor main concern is identity of those entity which made the transaction of 2.3 b , the entity with pending receivables...identification of some inventory and assets

by right serba should not have issues coming with verification on these...via a conference call with their clients>>

Anyone with working experience with Malaysian government and GLCs can tell you that working with clients or suppliers who just got incorporated not long ago with small or even RM10 paid up capital is commonplace. Also companies that you couldn't Google up.

Hahaha auditor is back

Now on holding mode lo I guess.

2.0% dividend and growing at 10% CAGR is not too bad

Especially as TGUAN product is well sought after in this e-commerce era

Yes, Mexico venture also haven't produce results, yet venture into property? I think I will be staying away from JOHOTIN for a longer time still.

A company that has been showing consistent growth and profitability since IPO in 2017, all of a sudden become a con job?

I don't buy it.

Btw today and yesterday whole KLSE mostly in red, but TGUAN holding up nicely. Not bad.

Yea I also checked their financials. Profitability swing up and down.

Revenue doesn't show consistent growth too.

Not my cuppa tea.

Maybe auditor meant to say MMC

Mana tau he got his calendar wrong, today MMC already limit up hahahahaha

I think auditor is looking at MBSB...see his comments history

Because labour shortage is very real.

Revenue and profit growth rate so beautiful.

Products are more or less a necessity in current market environment.

Do you people actually have experience dealing with difficult auditors?

I met before, and dealt with with them before. I literally have to shout at them in my e-mail replies.

Some of them really go by the book, ikut theory tapi takda real world logic wan I tell you.

@cruger12345 +100

I work in accounts in construction/engineering firm. I've seen all that and can attest that all is true and how things work here.

@BobbyAxelrod taiko, announced last week la...

https://klse.i3investor.com/financial/QoQ/quarter/7034/31-Mar-2021_1379801069.jsp

MMC is a good company, but biggest shareholders holding too much ticket.

My approach to MMC has little changed - based on dividend %

Previously I holding along the bull run hoping to see more capital gains, but after some time starting to see the pattern d, mayne Syed Mokhtar also don't want it to go too high, so that IF he wants to privatise, it won't be too expensive for him to do so.

I will revisit MMC when it dropped to around RM1.02

Yea, and Baccarat hands winning history chart can also help you beat the casino...

@Mabel +100

KPMG has been auditing them for so many years. Now only found problem, when their clients have been more or less the same?

To share, I'm also working in Accounts/Finance.

When my suppliers' auditors send me audit confirmation request letters, out of 100 letters receive, I dump ALL 100 of them.

Only when my suppliers call me, "Eh Pinky, help la respond, if you no respond, later my auditors don't want sign off the audit leh...", then only I reply to their auditors. You think we accounts people very free ah?

Furthermore now we have Covid-19 worldwide, many people are not working in office - letters will go misplaced (or stacked up somewhere for weeks or even months), phone calls won't be answered.

Armchair analysts, auditors fresh from colleage, won't understand all this. People who have real world working experience will understand.

And the normal procedure for audit findings is always:
1. Talk to the accountant
2. Talk to the Finance Director
3. Talk to MD/CEO
4. LAST RESORT - go to Audit Committee

If my auditors jump the gun and go direct to Step 4, I will also ask my Directors fire them.

@LossAversion u also joined here? hahahahahaha

@newbie8080 yes, revenue and profit can be manipulated.
If it's a super high PE company, miserly with dividends, report huge EPS but only pay tiny DPS, maybe I would suspect.

A dividend paying company means it HAS THE CASH.

If a company has been making losses or zig-zagging between profit and loss throughout the years, then report surprising profit, and auditors found issues, I'll buy the story.

But a growing company with growing revenues and profits AND is capable of paying dividends.

I don't buy it.

People with hands on experience in local construction and O&G industry will know that Serba is not wrong.

hahahahaha just wait and see

People working in construction and O&G will know how Malaysian industry works.

All the issues raised by KPMG are not even issues.

And yes, they should have approached management first instead of going direct to Board/Audit Committee. That auditor must be too gung-ho, trying too hard to impress.

Bye guys, Pinky officially out of MMC. Good luck to u all!

Suppliers same address - Hello, never heard of "registered address? That's the company secretary's address

Suppliers having low small paid-up capital - Hello, never heard of NSC (Nominated Sub Contractors)? It's common when you do business with big companies (esp Malaysia) like Petronas. You want this contract, you gotta award to their suppliers/subcons of choice. It's a way for them to develop local/Bumi companies in Malaysia

KPMG screwed up. Must be a team of freshie accountant grads in that audit team

Any accountant worth his salt upon reading the reports on this matter can say that KPMG screwed up. This is no fraud.

Admin please ban this spammer

Who sell this morning is bodoh, more bodoh than our menteri hahahahaha

Who panic and sold this morning hahahahaha

Each inoutinout trade earn a few buckets of beer nett hahahahaha

@auditorandconsultant of course I done my math, my inoutinout moves all can cover the trading costs la XD

dun worry

your lovely finance minister itu apanama zafrul will probably wait til 10k cases baru agree lockdown

@auditorandconsultant I starting to appreciate TGUAN as a stock good for range trading hahaha

I re-entered today, and if I sell now I can pocket a healthy gain hahaha

Anyway enough with intra-day trading, this time I'm keeping

This quarter results I like very much

@Lanmum enough play in-out-in-out with TGUAN already

This batch is for keeps XD

@Superb99 ya recent trend for most stocks under my radar seems to be like this

Nowadays my strategy also to take (some) profit before ex dividend

After dividend re-enter again

I foresee correction further after dividend ex date

Better take profit off 1st

Hi I'm back hehehe

Took some profit off

Really buy on rumours, sell on news XD

1 potential risk for exporters

I saw a few, like Karex, Johor Tin

Their products couldn't reach their intended market because of shipping delays and/or heightened shipping costs

Hope TGUAN is spared from this