Posted by Vicky > Dec 28, 2021 3:09 PM | Report Abuse

when first reported dispute with Kpmg l already suspect group accountant. rupa rupanya conspire with ceo to submit false report

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So, when you saw the red flag you sold out 100%....right?
If not, why not?

Surely anyone who bought this stock after the red flag was raised knew they were getting into a very high risk transaction?

newtrader1989........I would have thought the immediate knee jerk reaction to this latest news would be to sell, no matter how far it had previously dropped.

I'm a little bit surprised that KPower hasn't been smashed on this news. Although he's resigned from the company he still holds around 15% of KPower.

Serba Dinamik and top executives charged by SC for submitting false statement to Bursa

"Serba Dinamik and its top executives charged by SC for submitting false statement to Bursa Malaysia Securities Berhad - under section 369(a)(B) of the Capital Markets and Services Act 2007 (CMSA). The SC is trying to locate Serba Dinamik's MD and CEO Datuk Dr Mohd Abdul Karim Abdullah."

Trying to locate?

Volumes across the board are pitiful, meaning that not too many people are buying the story that the KLCI rise is the start of a recovery play.

Merely end of year window dressing and my immediate concern is what price these stocks will be in the first few weeks of trading in 2022.

I want to top up in a particular bank stock I currently hold but I'm not game to buy yet, even as the price creeps up. If I miss out then too bad, but I'm not buying anything until the turn of the new year and there is a bit more clarity.

Thanks @bullcock and @lionel messi......enjoy the festive season :)

A new Rm87.5 million contract..

https://www.theedgemarkets.com/article/solarvest-secures-rm875-mil-epcc-contract-energy-es?type=malaysia

I have to go out today to flash some cash for Christmas goodies, so I probably wont have an opportunity later to wish the "Bursa boys" a very Happy Christmas.

In particular I'd like to wish @bullcock and @lionel messi a very enjoyable festive season and to thank you both for all the banter we have had about Bursa throughout the year. I always enjoyed the interaction.

All the best, guys, and see you next week!

lol....I remember a poster saying that a few weeks ago.
How can you price in an unknown? :)

Perhaps he will give us guidance on that theory.

January 1 is heading into uncharted waters, so being cautious would be the sensible thing to do.....all IMO of course.

@Kim, those targets could be possible if it can break 6.35.
Although I think 6.80 would be a big stretch, even with the current end of year window dressing giving some companies a tickle.

As we saw last week when it had a move up, it was met with a new wave of short selling, so the end result should still be negative in early 2022, IMO.

Nothing goes up or down in a straight line, so any upward movement doesn't mean that you shouldn't remain cautious and aware of the downside.

Just my thoughts.

Hi lionel messi, they have different agendas and game plans to us regular retail investors. As a retailer I don't believe following them into or out of a stock is a guarantee of success.

I don't hold any SD shares and have never held any shares in this company, however I am following this story to see how it develops. I believe my following thoughts are unbiased.

Something that I do not understand is how this story has turned into such a fiasco. Going back to May when these issues first occurred, surely the most logical thing for the company to do if they could not come to an agreement with their auditors was to IMMEDIATELY request a Trading Halt from Bursa. The share price at that time was around Rm1.60, so surely one of the company's main obligations to their shareholders was to protect their investment.

However, what has occurred is a public slanging match which puts SD under much more scrutiny and a share price that has plummeted to 35 cents. That is hardly looking after their shareholders interests.

If the CEO and Board were in total support of their reported financials, then that would be the logical immediate action to take. I would see an immediate Trading Halt as the first HIGH PRIORITY course of action.

I managed a division of a publicly listed company overseas for nine years and was obviously involved in major audits during that period and I have no doubt whatsoever that if there was a major irregularity highlighted that couldn't be explained and resolved, the CEO of the company would have called for an immediate halt in the company shares. Thankfully that never had to be brought into action.

I'm not pointing the finger at anyone yet in this 7 month saga but something doesn't quite add up.

Very interested to see the final outcome !

I wouldn't be too focussed on the actions of EPF, as at times their buying and selling of various stocks can be baffling.

I still believe there are enough headwinds for this counter to remain in a downtrend. The December quarterly will be released in late January and I'm not expecting anything remarkable with their EPS, probably similar or lower than the last quarterly of 9.90 cents. There will be a dividend attached to the December quarterly but I doubt it would be worth chasing, as the share price should remain under some pressure.

The Stamp Duty changes commencing January 1 will probably weigh on the price too as the current general consensus is clearly negative. We will need to watch the daily market volumes and values to assess how much this will affect this stock.

Currently I still believe the stock is still travelling in the direction of the next Fib point of 5.80, which I've mentioned a few times. I will re-assess this stock during the first quarter of 2022.

Every third Friday.
End of March, June, September and December.

“Chin Hin's decision to increase its shareholdings in Solarvest is due to Solarvest’s prominent future earnings prospect and strong outstanding order books in the solar energy business.

https://www.theedgemarkets.com/article/chin-hin-group-buys-solarvest-shares-sells-warrants

The two leading shareholders in Solarvest now hold 60.85% of the company.

Anyway, back to the real world.

The 6.35 Fib price point looks to have broken after a couple of weeks of trying to hold it as a support. A bit similar action to the period when the 6.80 Fib price point eventually broke.

I agree with you, @prudentinvestor.

Too many people are seeking instant rewards, similar to a day at the races or casino. This all happened when online trading commenced and got exponentially worse with time. Things like revenue,profit and EPS are irrelevant to many as they jump on the latest market darling. I'm not knocking it if it works for them and they make a profit but it's got very little to do with investing.

Each to their own criteria, I guess.

Posted by Mr.A > Dec 17, 2021 11:06 AM | Report Abuse

BURSA during najib era was the best ady haha...

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That's nonsense. During his period as PM, Bursa's EPS ranged from around 28 cents to 42 cents each year.

In 2020, during a pandemic, the annual EPS for Bursa was 47 cents.

All Hail Jibby? Yeah, right, if you believe in fantasies.

As a holder it has been very frustrating watching the price gradually drop ~10% as EPF dispose millions of shares on a daily basis over recent months. If you look at this selling rationally the actual price drop has been well supported. If you were to see the same level of selling in other counters that EPF hold I think it could have caused a collapse of other counters, as the selling volumes and value have been very substantial.

I have retained all my holdings in Tenaga during this downturn and remain optimistic that the stock will move up to fair value over time.

Hi @lionel messi, I hope all's well with you and yours.

I wouldn't be holding my breath for rational and innovative policy changes, as it doesn't appear to be the modus operandi of this group of individuals that are apparently attempting to be representing a Government Cabinet.

As for the market, volatility will probably remain the keyword for the foreseeable future. As for the new stamp duty rules for 2022 I'm still undecided on how much of a negative effect it will have. Perhaps the first quarter of 2022 could be an opportune time for the big funds to show their dislike of it by purposely lowering their trades significantly to then use that as ammunition to highlight to the Finance Ministry their dislike of the new changes.

Unfortunately, I can't read minds though and don't know how they will eventually play the game.

Too early to remove your hard hat, imo :)

https://www.theedgemarkets.com/article/bursa-malaysia-foreign-shareholding-drops-lowest-18-months?type=malaysia

In the current climate I believe it is prudent for any investor to hold at least a couple of banks in their investment portfolio.

Then the obvious question is which ones to hold. Choices will vary amongst everyone for various reasons, it's always good to hold differing opinions.

In recent months I have positioned myself in Maybank and RHB with a twelve month horizon and will re evaluate during 2022.

Posted by SHQuah > Dec 11, 2021 10:32 AM | Report Abuse

It's possible reverse take over by other company ?

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I would doubt that any reputable company would look at SD until there was a very clear picture of their financial and projects position.
That clarity doesn't appear to be coming to fruition anytime soon.

We could see a slaughter of Top Glove this afternoon, after very disappointing quarterly results. Which could also affect the other glove counters.

At least it should help with Bursa volume :)

A few minutes to go, let's see.

Worth a read, some may agree or disagree with their analysis but it is worth consideration. Interesting to note that their valuation is only around 15 cents away from the Fibonacci price point of 5.80 that I mentioned a few months ago.

https://klse.i3investor.com/servlets/ptres/61563.jsp

Thanks firehawk.
What a joke, the country is on its knees and they can give a public holiday for this reason.
Expect possibly a very volatile and negative afternoon, then.

Am I right in thinking that the stock market will be closed tomorrow due to this FT holiday?

By the way, Warren Buffett never bought any Bursa stock in his long career as a value investor.

Sorry, I saw an open goal and couldn't resist it :)

Hi lionel messi, I tend to agree with you as there were a few anomalies in yesterday's trading. An example, Top Glove and Supermax added Rm1 Billion to yesterday's figures. Top Glove and Hartalega also saved the KLCI from going below 1,500 during the day's early trading.

Conversely, we see TG and Hartalega today softening the KLCI rise, at this point in time anyway.

I remain cautious at this point in time, hoping for more clarity from the overall market. Nothing inspiring me right now.

For @bullcock, yesterday's Bursa shorts were 224,500.

@MakeitGrow, with respect, I'd rather wait and hear what the experts say about this new variant.

I can recall all the total garbage we were fed in March last year that said it was no worse than a mild case of the flu but the experts were telling a totally different story and were lambasted for their opinions.

I'd suggest the jury is still out on this new variant.....at least that is my belief ATM.

Let's all hope that the eventual news is positive, as I dread to think how this country will fare if we had to go into more lockdowns. That is not worth thinking about, so let's hope all is well as soon as possible.

Good morning, @bullcock.

Yes, we are only an hour and a half into the day, so anything is possible. The KLCI bounced off 1,500 but that is more of a psychological support than a technical support level, so whether that can remain intact we'll have to wait and see.

Re your comment about the shorters, keep in mind that they would rather short at 6.42 than 6.37, so any bounce might be stifled. All guesswork at the moment though but I still have 6.35 as the next Fib point, so it's a little bit interesting that it has bounced off that area a couple of times in the past week.

Toss a coin to work out how the overall market is headed :)
Bias is logically negative until we get more clarity on this new Covid variant.

Shorting figures for the week:

Monday: 21,900
Tuesday: 61,900
Wednesday: 276,700
Thursday: 83,100
Friday: 155,200

Current short total= 8,014,149 (doesn't include Friday's numbers), so total will be 8,169,349 if there has been no covering.

My only thoughts at the moment are how close the KLCI will get to 1,490 on Monday and whether it will be broken at some stage. Passengers are advised to the assume the brace position, otherwise the only other position is to lube up and bend over.......and wait for impact :)

All the best

Karma4444, this variant appears to be of greater concern.....*sigh*

"This variant did surprise us, it has a big jump on evolution [and] many more mutations that we expected," he said.

In a media briefing Prof de Oliveira said there were 50 mutations overall and more than 30 on the spike protein, which is the target of most vaccines and the key the virus uses to unlock the doorway into our body's cells.

https://www.bbc.com/news/health-59418127

Merely as a suggestion, I'd be focussing more on the KLCI right now instead of debating whether Bursa can move up to Rm6.80.

The KLCI eventually broke the 1,520 support level yesterday with immediate short term support coming in at 1,510. That level was touched this morning and a mild bounce occurred.

My concern is if 1,510 breaks down and then we head to 1,490. That is a possibility in the current overall market, IMO.

The only small glimmer of hope is that the fund managers decide to do some window dressing sometime during December, however I think it would be short lived and met with more selling eventually.

Perhaps a time to sit back and take a deep breath and look at the overall economy and market sentiment.

Have a great day :)

Hi @bullcock, I trust all's well with you and yours.

You mentioned you would like to know if the shorters had stopped yet.....unfortunately for holders, no.

Similar to last week, each day this week they have increased their short positions.

Some sobering figures are the number of shorts during the last 5 or so weeks. Around 5 weeks ago the short position was just under 2 million (can't recall the exact amount), however the current short position has increased to just under 8 million. So approx. 6 million shorted in about a 5 week time frame.

@MakeitGrow, your claim of a current PE of 13 is, unfortunately, a mirage. Factually you are correct, when you add the last 4 quarters EPS, however the reality is that those figures include 2 quarters that had EPS of 13 cents and 15 cents......those days are long gone for now.

Current EPS reality is around 10 cents per quarter and forecasts predict it to go lower than the current 10 cents per quarter.

But hey, it's always good to have a contrary viewpoint, so you keep on buying if you are feeling confident that this is a low price point.

All the best.

Here you are, re the company statement, @MakeitGrow:


Utilisation of Proceeds

The proceeds from the Disposal will be utilised to fund Bursa Malaysia’s initiatives to
ensure continuous development to the ecosystem and infrastructure of the Exchange.

FINANCIAL EFFECTS OF THE DISPOSAL

The Disposal will not have any material effect on the earnings per share, net asset per share,
share capital and the substantial shareholders’ direct and/or indirect shareholdings of Bursa
Malaysia for the financial year ending 31 December 2021. The Disposal will not have any material
gain or loss to Bursa Malaysia as the value of the shares has been marked to market.

Posted by MakeitGrow > Nov 24, 2021 1:38 PM | Report Abuse

In last October, Bursa has an extra income of RM68 mil due to the disposal of CME shares on the US Nasdaq. If this amount is incorporated into their 4Q, this will be fantastic. Let's see

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Bursa have already stated that this figure will not be included in their financial statements. Apparently they have allocated the funds for other purposes within the business. I can't recall what it was for but it is in the company announcements (can't be bothered to check at the moment).

Posted by fruitcake > Nov 23, 2021 3:39 PM | Report Abuse

someone in the MOF has to wake up

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Hard to imagine that happening.

When you have a total lack of forward thinking individuals making up policies you have to suffer the consequences. Think about it, when was the last time you read of a new policy and thought it was a progressive move forward?

This country needs a total reset of thinking, however I doubt it will ever eventuate.

Fib level of 6.55 totally smashed this afternoon, with next lower Fib levels at 6.30 and 5.80.

Sellers and shorters dominating the price with no indication that it is going to change yet.
In fact, the volume of daily shorting increased each day throughout all of last week even as the price was dropping:

Monday: 72,300
Tuesday: 206,700
Wednesday: 232,300
Thursday: 250,900
Friday: 427,100

While Rome burns, Nero fiddles.

I urge all of you to read this short article highlighting the dismal situation many Malaysians are in. Many will never be able to afford to retire. You can work out for yourselves who is responsible for this disgraceful state of affairs.

This country will go nowhere until there is a total reset of thinking and policies. The current public relations team catch cry of "Malaysian Family" is no more than birthday card pish.

https://www.malaymail.com/news/malaysia/2021/11/16/finance-ministry-3.6-million-epf-contributors-have-less-than-rm1000-in-thei/2021356

For those who might be interested, figures of shorting for the last 3 trading days:

Wednesday 10th: 89,900
Thursday 11th: 143,500
Friday 12th: 213,200. (significant percentage considering the stock only traded 542,600 for the day).

No record of any short covering during those 3 days.

Perhaps not quite out of the woods yet

Thanks for responding @bullcock, always good to have decent interaction with sensible posters, that's what i3 should be all about.

One point I'll have to agree to disagree with you about though is comparing Bursa with similar entities in the region. That can create a rather foggy perception when heading down that road, IMO. It's a bit like saying, if my auntie had balls she'd be my uncle :)

There has been times when Bursa has had a PE at 25+ but I don't believe we are in a position to give that level of robustness at this point in time. Perhaps when there is a bit more clarity on how this market is going to settle could be the time to re address it's PE.

Being the eternal pessimist as I am, I'd rather see firm signs of support before making a decision at this point in time. I don't believe we are quite there yet.

Sincere best wishes with all your stock market investments, time usually sorts out everything in the end that has a tangible value and this will no doubt be the case with Bursa eventually.

@bullcock, re your earlier post this morning.

Firstly the technicals. The Fib extensions for the downside trend are as follows, rounded to the nearest 0 or 5 cents:
1. 6.55
2. 6.30
3. 5.80

You could slip in 6.45 between 1 and 2, and 6.20 between 2 and 3.
These figures don't mean they will all be hit and be broken but as a guide to where the next level could be, for example if 6.55 was hit and broken. Example, in the recent past I mentioned that if 7.35 was broken then the next lower support was 6.80.

Bursa is currently at that 6.80 +/- a cent or two, so let's see where it decides its next direction is.

Onto the more important and measurable component, fundamentals..... this is where disagreements will occur amongst most people :)

For me, the quarters that produced EPS of 13 and 15 cents should be disregarded in formulating current and forward looking EPS. Those earnings occurred due to factors beyond normal market sentiment and partly due to "hot money" entering the market during the first bank moratorium. Therefore to calculate a more realistic EPS we should focus more on the here and now.

I've mentioned in recent times to look more at annualised EPS of around 40 cents as a more realistic number.In fact, 40 cents could possibly be over optimistic if you look at FY2019 annual earnings of ~23 cents, before the moratorium frenzy took effect.
For now, I will retain that rolling four quarter EPS of ~40 cents until I see what the next couple of quarters report. This current quarter that we are almost half way through could possibly report similar or slightly lower earnings than the recent quarterly.

So if we are to use an earnings figure of 40 cents, what PE will you give the stock for "fair value"?
In this current market environment, I'd be very hesitant to give it a PE of anything over 15, meaning a "fair value" of RM6, EPS x PE.

"Fair value" and actual market price will always be out of sync because of overall market sentiment and agendas of those playing any particular stocks, so unless we have a crystal ball nobody really knows what price any stock will go to at various stages of market sentiment.

Unfortunately I gave my only crystal ball to an old gypsy woman who knocked on my door :)

bullcock, regarding your comment, "....presumably who's still awaiting to consummate his relationship with this Bursa, I think you might have to endure, enjoy a longer slow foreplay.....", how right you are :)
The flirting and teasing and anticipation can be more enthralling than the actual "moment" :)

The above is merely my own personal thoughts and I'm definitely not saying they are right.

@bullcock, if you want to discuss more in private so that we don't bore the other readers, then feel free to message me on the i3 messenger.

All the best.

Good morning, bullcock. I'd like to respond to your post but it will probably get a bit lengthy, so I'll repost later in the morning when I have a bit more time.

Good morning Jeffchan, are you sure the Quarterly is coming out this week? Usually it is around the 26th or 27th of the month.

Posted by TreeTopView > Nov 6, 2021 9:38 AM | Report Abuse X

Good morning @bullcock, yesterday's shorting figures (Friday 5th) were 815,700 so no sign of it slowing down yet. For the last 3 trading days, that's a total of 2,167,700 shares shorted

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All shorting figures now in from last Friday. Although there was 815,700 shorted on Friday, there was also 314,700 covered on the same day.

Yesterday (Monday 8th) there was 302,100 shorted.

As for the chart, I still think 6.80 is an important level of support and you wouldn't want to see it broken (it has bounced off 6.81 twice in the past week). A reversal needs to break the 7.30 level to be convincing, IMO.

Immediate downside risk is 6.55 if 6.80 is broken. A positive KLCI over the next few days would possibly help Bursa keep away from breaking down below 6.80.

Good morning @bullcock, yesterday's shorting figures (Friday 5th) were 815,700 so no sign of it slowing down yet. For the last 3 trading days, that's a total of 2,167,700 shares shorted.

For me, the immediate short term price to focus on is ~6.80. A break below that will possibly open up more short term selling. I'll look at the chart and fibs after a wake up coffee and see what it might be indicating.

Valgrovest, another 501,000 shares shorted yesterday (Wednesday 3rd), taking the last two day total of shorting to 1.35 million.

I'd be careful making a buy call at the moment.....all IMO, of course.
Check the chart and add in a few indicators to see if you are confident about buying right now.

My opinion is that it's not a buy on chart analysis.....but I could be wrong.

Short selling increased significantly yesterday for this stock (Tuesday 2nd)with a total of 851,000 for almost Rm6 million.

https://www.bursamalaysia.com/misc/missftp/securities/securities_equities_rss_2021-11-02.pdf