piranha88. You saw me buying 10 lots equivalent to 6050?
It's for fun

Since paktua gonna buy at 0.60 i buy q 10 lots at 0.605 using Jetson goreng money haha.
I miss Genting. Haven't been there more than 1 year

paktua. I am so touched got comrad in JAKS.
Sad SSlee still convince JAKS boss conman haha

paktua. Waiting for you goreng JAKS eh

CharlesT. Maybe they all using less than 5% of their funds leh, who knows?
Malaysia many hidden tycoon leh. My town full of tycoons making easy money from online gambling, contra band and drugs. KL would have more. So, that's a way to contribute back to Malaysia economy

xskyriver. Your nickname has it gotta do with an establishment in Bukit Bintang haha...
I am impressed with you. Being new and you already grasp the essence of successful investment. I have 27 years of investment experience under my belt and yet i am still amateur and made lots of painful mistakes along the way.
My advise to you, ignore ups and downs of shares. Stick with good counter. If you wanna goreng, use less than 5% of your available fund. You will be very successful in your retirement.
SD is innocent till proven guilty. But whether in KLSE or in real life, we need to make judgements. My company's bad debt has been 0.2% of my turnover over the last 10 years. That's how i survive by being careful.
A lot of failed businessmen blamed their failure on uncollected debts. They blame the failure on others instead of what they could have done differently
Thumbs up

xskyriver To be honest, I really learned something from this SD case.
Just sharing, Please don't hantam me.

First, I'm quite new in investment and I'm not a risk taker, most of the time I pick stock by looking at their Revenue by year, EPS every quarter, DPS.

Gotta know about this yesterday when my daughter showed me this news. Would this become a new tomorrow just like carbon zero and EV?
I sold my BAT because the dividend yield just ain't attractive for me personally at current price. Of course, at lower price or higher profit this could change. However, if there are a fundamental change in consumer habit, then BAT's attractiveness would need to be evaluated not just on dividend yield alone.

https://www.theguardian.com/world/2021/apr/16/new-zealand-aims-to-create-smoke-free-generation-cigarettes

I have sold my BAT yesterday cos the QR really not impressive. While i foresee BAT still ok, i sold BAT to invest into recovery stock hopefully making higher capital gain instead of dividend yield. Not very disciplined cos high risk high gain instead of dividend stock carrying lower risk. Hai. Susah cari makan


Stock: [JAKS]: JAKS RESOURCES BHD

May 7, 2021 1:40 PM | Report Abuse

Promotion time. Yeah BAT has scaled new height not seen since Dec 2020. Now, that's before pandemic. Chart wise, unless it drops below RM14, otherwise the uptrend might continue. Haha, all the sudden i sound like a chartist.
Now, i gotta declare my average cost is less than RM11 and i am promoting because i don't intend to accumulate more shares and would like you to push up the price. Apart rom capital gain, i am looking at dividend yield. 50% of my share holdings are in dividend stocks because that's what i gonna rely on after retirement.
Gonna dispose of my properties portfolio before i retire at 55 because it's just too much nuisance dealing with real estate agents especially during the pandemic. When i retire, i just wanna travel the word with no worries

A stock worth buying or not depends on valuation. That's investment 101 you can google.
Public bank is good company but if PE 60 then not worth buying. A lot of people see price expensive or cheap based on absolute price level. I hear this numerous time from those who entered share market in the 90s. Talk until saliva dry also no use.

I look forward to see nansayers become supporters

Make sense. Insas is indeed deeply under valued. However, i won't buy Insas as one forumer once highlighted. "opportunity cost" Since i have limited fund, i need to decide on my best returns. Of course, i only "hope" i invested in the right company. Investing in deep discounted NTA companies was a strategy i employed more than 20 plus years ago. My experience told me that success rate low. Reason being that most deeply discounted NTA companies are deeply discounted for a reason. A lot of time, the major share holders are no longer active. This is just a general overview. The best scenario one could look for is the major share holder privatise the company like in the case of Cycle and Carriage. However, even in such cases, most offer price will be either "fair but unreasonable" or "unreasonable" at best.

Sslee Insas cash call RI Is not a cash call per se. The whole RI is for someone to hold the warrants so that he can sleep well knowing he can fend off a hostile take over.
01/06/2021 8:07 AM

To be fair to JAKS, when i first read about JAKS PP in Vietnam, "another con news" came to mind. Indeed it took them years to secure a China partner? Otherwise, the deal would die off like many others.
If nothing, i give credit to ALP for securing the China partner and also the 30% share holding. If it was me, i would have closed the deal with 10% share holding probably.
I won't have invested in JAKS if not of Vietnam PP

Below were the 5 scenarios i presented in Nov 2020.
Looking at the latest JAKS pp, JAKS need working capital. That would make up 25% of the pp. Indeed, even with the Vietnam PP, JAKS management need to let share holders know when the dividend could be monetised in Malaysia. Otherwise, JAKS will constantly need working capital cos their Malaysia operation is bleeding. As i highlighted, if i were running JAKS, i would sell Malaysia properties even at a loss and stop construction jobs. However, now definitely not the best time to sell any properties cos it's the lowest you will get. So, i can only hope the 25% for working capital is not worse case scenario. However, at best it's 4th scenario. The working capital would come to around 5% of JAKS market cap.
Another RM50 is for LSS solar farm. I am ok with it. So, all in all, 10% pp will be sufficient. The other 10% of the PP only could be raised if JAKS has an acquisition.
LSS should fall into scenario 2.
As for the acquisition, can't comment which scenario it would fall under since nothing being annouced. I presume JAKS can't raise more than 10% without any acquisition news.
As for the acquisition, if it's from middle east, i will sell first and verify later
PS. you can read the details of pp utilisation under page 3 of the announcement.


Stock: [JAKS]: JAKS RESOURCES BHD

Nov 19, 2020 5:08 PM | Report Abuse

SSlee. I agreed with you RI won't benefit existing share holders due to dilution. The best scenario is not to have RI but bank loan.
Best scenario. Company gets a bank loan for additional income generating business where the return would be higher than the loan interest. However, it needs to be a sure win business. In real life, where can find such business easily?
2nd best scenario. Company RI for additional income generating business. Best la if it's sure profit.
3rd best scenario. Company RI for additional funds into new business but profit or loss yet to determine
4th not so good scenario. Company RI for cash flow caused losing money but management still genuinely wanna make money
Worst case scenario. Company RI for cash flow so that they could syphon more money away via salaries, expenses and loss making ventures. Normally these companies are easily identified in KLSE because they would do RI every alternate years and come up with very ambitious projections that never materialise.
Now, JAKS is which one. You decide. I HOPE it's 2nd best la.
How about Insas, SSLee? Which you reckon?

if you wanna goreng, why wait for Serba? toss a coin and abundant to choose from. I goreng too but with negligible fund just like me going to Genting.
Jetson and vivo looks good to me

If the accounts are cooked, can't have happened just in 2020. So, 2 scenarios here
1. Auditor found no fault. In this case, the auditor needs to be found accountable for their incompetence
2. Auditor found fault. In this case, the auditor needs to be accountable for their incompetence too
If i google and found so many doubts, auditor can't?
We need to hold auditors accountable and not let them brush off so easily.
20 years ago, we were ridiculing China for cooked companies. Now, why these cooked companies come list in Malaysia??
CNBC news now mention only Singapore, Thailand, Indonesia. Malaysia now no more on foreign countries radar. Something to be proud of?

Yes realistic but not keep bashing others. If you gamble, you deserve the consequence though i still pity you. How many people realise Serba fake? You?
Serba's issue not so easy to identify like some obvious scam companies

You wanna talk big, find some facts.

Here you go. In case you retard can't find


https://klse.i3investor.com/blogs/windy1974/2021-05-03-story-h1564258777-Serba_Dinamik_Top_Favorite_O_G_Counter_By_Analysts.jsp

Ya. Malaysia is full of loser keyboard warriors like you. Apart from big mouth, you have nothing else to show. Go read 3/5/2021 blog on Serba by me. It's probably me that opened the skeleton closet.
Please understand what i write first. You probably don't have the brain for that

All. Isn't it enough? Limit down 30% a lot of people making big losses. Among them, many are not gamblers or speculators. Why you are so happy to see others making big losses?

For those who are negatives on Serba, what's your motives?
If your motives is to make sure investors could make informed and right decision, good on you.
If you feel excited to witness losses by many, irregardless whether they are gambling or not, then you are no better than those crooks you try to attack

https://klse.i3investor.com/blogs/windy1974/2021-05-03-story-h1564258777-Serba_Dinamik_Top_Favorite_O_G_Counter_By_Analysts.jsp

https://klse.i3investor.com/blogs/windy1974/2021-05-03-story-h1564258777-Serba_Dinamik_Top_Favorite_O_G_Counter_By_Analysts.jsp

https://klse.i3investor.com/blogs/windy1974/2021-05-03-story-h1564258777-Serba_Dinamik_Top_Favorite_O_G_Counter_By_Analysts.jsp

Stockraider. I target to list my company in 8 years time. Lesson learnt.
Hope for i3 forumers support by then

We can all learnt from this fiasco. What have i learnt?
1. Make sure i don't use same company secretary for companies
2. Make sure i use different phone number
3. Make sure i fire my incompetent CFO. I did ask him to save money but not to the extent that use same phone number. It's a classic case of you pay peanuts you get Malaysian
4. Make sure i employ cyber troopers to delete news in google search which is not in my favour
5. Make sure i stay under the radar and get someone else to attend overseas interview
6. Make sure i don't use the Big 4 or Big 8. Should have use a mickey mouse audit firm like many in KLSE. But cannot since i am now worth 6B
7. Make sure i split my business so each market cap less than RM1B, then i can use mickey mouse auditor
8. Make sure i get St Mirren or whatever islands that i could enjoy my retirement

Thumbs up. Let's make i3 forum a place for the intelligent and not retards.


The St. Goreng Need clarification from real Serba investor

https://e-serbadk.com/serba-dinamik-unit-gets-rm1-47b-job-to-build-dat...

Is this Future Digital Data Systems L.L.C (FDDS) related to Block 7 Innovation LLC?

https://e-serbadk.com/serba-dinamik-wins-us1-78bil-contract-in-uae/

Perform a background check on this phone number +971 2 550 4023
https://www.google.com/search?q=%2B971+2+550+4023&oq=%2B971+2+550+...-8

Search Results:
1. EFIRE: https://efirecapital.com/contact/
2. Block 7: http://www.block7investments.com/
3. FDDS: https://www.fdds.ae/
30/05/2021 10:03 AM

Yes, you are right. As i said, my accountant and auditor work for me. If you don't like it, get out haha.
When my auditor found something that need to be addressed, my auditor will "advise" me what to do haha.
But of course la, i am an honest businessman so no fraud. wink wink
Truth is, my company is too small auditor won't have to give me face haha. But i still can fire them


joyvest the auditors are not bloodhound but watch dogs. They conduct their process of audit based on the information and explanation given to them by the Management . If the Management has the intention to fraud by presenting the wrong or misleading information and explanation to the auditors, there is nothing much the auditors can do provided that they carry out their audit in accordance with their auditing standards.

If however, they discover irregularities through their process of audit , they must highlight to the attention of the Mgt for further action. the Mgt just cant turn a blind eye to the irregularities. the auditors owe a duty of care to the stakeholders at large as a professional .

Well, while you blame Serba, we can't let KPMG off the hook so easily. If this is indeed fraud, then a failed account graduate like me also can smell the stink, KPMG auditors cannot??
Either you are just incompetent or you just turn a blind eye for the sake of fees.
Now, at the end, this is just speculation ok, Serba is innocent till proven otherwise

If you really wanna talk about problematic companies in KLSE, countless. Why this keep repeating? Because Malaysian don't care. They are gamblers and not investors. To be fair, this happens in Taiwan and HK too, but to a lesser extend. Because their SC do take actions after rakyat make hoohah. In Malaysia? Wait for 3 months and rakyat would forget about it. So, while we point fingers, we ourselves are responsible too

Since i have opened the can of worm, i would highlight Awang Daud too. So called Serba co founder. Are they really experienced business man with gold finger?
Awang bought into Sealink. Why would someone buy into a company with outdated vessels and can't rent out to clients?
Awang bought into Transfame. Now under court order for creditors (don't know the legal term for it)

Now, how about Kpower? Do you find similar pattern after Karim bought in? Majority overseas projects and very vague information available?
When you find regular pattern in irregularity, it's something you need to look into

ChefKarim another crook. Malaysian chef but ang mo face haha

Charles T very smart. Must be a crooked businessman like me too haha.
Charles, why not you set up few more Abu Dhabi company and award RM10B contracts to me? Then we sell it for RM100M and split half?

Now, to be fair to Serba, i am also suspicious of Ocean Vantage. I didn't highlight this company because it's just 100M market cap. Very impressive and consistent QR too. Now, i don't know this company well but the first thing that raise my red flag is their HQ. A RM60M turnover company and the HQ is a 1200sqft 2nd floor office in Miri. Now, i don't mean you can't do RM60M with such small office BUT VERY UNLIKELY.
Also, what's suspicious is their turnover growth right before listing.
I will leave it to Chef Karim, whether the books are cooked

Haha. Chef Karim. I enjoy your cooking show a lot

You would find similar patterns in their projects annoucement.
1. Vague details on who awarded the contracts.
2. Not much details online when you google companies awarding hundred of millions or billion contracts. Eg. Future Digital Data Systems. (website not even updated, and this is RM1B contract. Not much info), Block 7, (Karim owned. Makes up 50% of Serba outstanding order book),

https://www.nst.com.my/business/2021/03/672367/serba-dinamik-bags-five-contracts-india-indonesia-worth-rm409mil
https://www.fdds.ae/#chairman_message
https://www.thestar.com.my/business/business-news/2020/08/06/serba-dinamik-secures-rm147b-abu-dhabi-contract

Now, all these information are found from googling. Thanks to google god, noone can say they don't know now.
Of course, majority of players in KLSE are not investors anyway, and they are well aware they are just gamblers. So, you deserve the outcomes. You gamble, make sure you can stomach the losses.
I highlight Serba because it's a RM6B company and a lot of genuine investors. I would have invested in Serba too if i am not from O&G back ground and heard of how it operates

I disagree this is the modus operandi

rkgfantasy From what i see the Special Independent Review
i roughly understand how Serba get project so easy
very typical GLC win win strategy
let say 100m project
serba tender with 120m, and promise to use the “supplier or related consultant provide by the project owner”
than Serba will appoint a professional sub or main con to do the job with 85million price tag
20m surplus consultancy fee will give back the insider project owner
serba earn 15m as a middleman, the subcon get 85m to do job
3 side win win....

that why when come to audit... look a lot of fishy, but this ain’t how those company doing ?

Full lock down. I have got time to read forum and wait for your insightful audit experience sifu Men Stock muak muak

Ah. This sounds like an ex auditor.
I still waiting for Men Stock sifu feedback :)
Just88. I am the author of a blog on 3rd May 2021. See whether it's reasonable from a non account back ground person? (failed to graduate as an accountant)
Who knows, maybe because of my blog, KPMG dares not sign off anything again otherwise they will get the shit like in 1MDB?


Just88 From an ex-auditor;

"My opinion on Serbak : The issues raised by KPMG are not actually only raised to the management on 3 May 2021. The date represents the official date to which the issues were brought to Serbak after months of deliberation but still remain unacceptable by KPMG. These audits were carried out as interim audit where the emphasis of the audit is on the authenticity of the transactions instead of the accounts itself. Audit procedures were carried out to verify the identities of the customers and suppliers and the nature of the underlying transactions. These procedures were normally carried out 3 months before year end account closing date. Therefore, the company and the auditors have been working on these irregularities found by the auditors for more than 6 months but unable to resolve the matters to the satisfaction of the auditors. From the company's announcement, it seems to most people that auditors are unreasonable in solving the matters but not to me. Auditors are generally tolerable and acceptable to explanations by the management but why aren't they towards Serbak ? As mentioned, KPMG have been its auditors since 2013, so the auditors is well aware of the businesses of Serbak. If they are not comfortable now, it only means that the risk involved is too big for them to tolerate now. Remember Transmile's auditors only raised the red flag after 3 years of audit. Personally, I agree with the irregularities found by the auditors and I found management responses hard to swallow."

Men Stock sifu. May i know, from an auditor perspective, how you detect whether a company accounts are cooked? What's the tell tell sign?
I am sure someone with your vast experience could provide some guidance?

Men_stock This is a real joke ! I am an auditor by training . I went thru the Independent Review. It is clearly an insult to my intelligence. I am pretty sure that this is a case when auditor juniors being sent to clients as their training ground whereby the boss are busy looking for more clients & too busy to look at audit findings. DISGUSTING!!!

Brian. I know you are brainless but no need to make it race specific. Transmile and London Biscuit were managed by Chinese. Karim is a Chinese Muslim convert. Before investigation out, don't hide behind your key board and called names

if you are holding Serba shares, don't listen to any positive or negative forumers here. Whatever they said most probably not out of good intention including me. Hence, evaluate yourself.
1. The 1 asks you to dumb dumb hold, how you know he is not trying to sell at better price?
2. The 1 asks you to sell, how you know is not trying to buy cheap?
My suggestion to you. If Serba account got problem, it's not even worth 0.70.
If Serba account no problem, it's easily worth more than RM2 or even much higher.
So, you wanna wait for 3 months to know the answer? It's your choice

MiaoMiao7. If 3rd party found nothing suspicious after investigation, i will buy Serba up to RM2.
Condition is that Serba needs to engage a reputable 3rd party independent investigator.
As i said, audit firm WORKS for me. Cos i pay their fees. You not happy, i change auditor.
From below statement, KPMG would have unofficially requested for certain documents and Serba didn't provide. Hence, in May, they have to make this official otherwise the blame would be on KPMG. Now, if i am the account manager in KPMG handling Serba audit, this is what i gonna tell their management. Look, we found risks that we can't brush off and since you can't provide me evidence, we can't sign. BUT, if you could get a 3rd party investigator to provide a report that everything is in order, then we can sign off. Since, the responsibility now lie with the 3rd party investigator. So, the reputation of the 3rd party investigator is very important in my opinion.

"We understand from management that as part of its annual audit process (start: October 2020), KPMG had requested Serba Dinamik for assurances on risk factors. The latter was identified earlier in April 2021 and officially submitted to Serba in early May 2021," TA Research said.

MiaoMiao7 Market sentiment for Karim stocks are bad, however if after auditing they found no problem and kmpg and the new external auditor also approve, then the stock will fly as it clears all doubt about it. Since Karim is already at this stage, he might as well order an external audit of kpower and scib to clear all doubt once and for all, then all stocks will fly after that.... provided that everything is in order.

Actually, from my collection, apart from Transmile, also London Biscuit.
What i highlight below is not targeted at any company in particular but as a general guidelines. Any companies in KLSE could be a suspect and auditors and bursa should be accountable for failures like Transmile and London Biscuit. Btw, was any auditor being sued in 1MDB case?
How to identify irregularities in companies? (My opinion)
1. Profit margin. What's the average profit margin of the said industry? Red alert when the margin is significantly higher or lower than the industry average. Significantly higher - then you better study why? Technically superior? Or better managed efficiency? if not both, then fishy...
Lower margin than average. I am ok if still profitable and compensated by volume. If making losses, forget about such companies. Will die out due to incompetence.
2. Keep venturing into unrelated industries. What, you think you are Elon Musk??? Btw, i personally won't buy Tesla. What's their competitive advantage in EV world when everyone's launching EV? At same price, you buy Tesla or Porsche Taycan?
Eg. many companies venture into gloves. So easy meh? I know many people are loaded with cash. If cash alone can solve problems, then everyone a billionaire. For me, those venture in gloves, Mah Sing has high success rate. Because Mah Sing started with plastic pallet business. Still different from glove but better than many companies lah.
Even companies in O&G industry are specialised. Not easy for an O&G company to cross into another discipline and make money. What more different industry? You think play monopoly? Yes, 1 can be successful too but i think 2 ways.
1. trial and error period
2. get instant success by buying up companies. However, you still need to pay school fees for a period of time to learn the trade...

Agreed with my arguement above?
The audit result won't be known till August. So, supporters or naysayers, whatever you argue here are pointless. Wanna prove to other parties, let's do your study and find some facts

Walau eh. Wesak day is boring day. I just read this from CNBC business website. Do you know that nowadays, Malaysia is never mentioned in their news? Another proof that Malaysia Boleh.
I miss you Dr M

In Southeast Asia, markets in Indonesia, Singapore and Thailand are closed for a holiday on Wednesday.

Below is the definition. Simply put it, i am a business owner so my account and my auditor actually WORK for me. If you don't, i just change you. Very rare auditor would issue such warning. By doing that, an auditor already expect to lose this client forever. If it's just some minor fraud by account, this would have been announced. Cos if i am running the show, as long as it doesn't involve me, ok bah.
Remember how auditors resigned from 1MDB?
My experience as a business owner, auditor would just close 1 eye as long as they don't think the matters are too serious. At the end, they just want fees. They are not really the righteous overseer of wrongdoing to protect share holders right.
It's natural for people to defend Serba if they hold shares in Serba. If you are the typical Malaysians who dwell in KLSE and buy whatever stocks you deem can go up irregardless of the business, don't read into this too much. However, if you are a real investor then you might wanna think twice about your investment.
I am surprised many people always use EPF as their arguement. With the money EPF has, they would invest in virtually all the biggest cap companies in KLSE


Meaning of a Statutory Audit
A statutory audit is a legally required check of the accuracy of the financial statements and records of a company or government. A statutory audit is intended to determine if an organisation delivers an honest and accurate representation of its financial position by evaluating information, such as bank balances, financial transactions, and accounting records.

ya lo. Mike and SSlee. Take your gaduh to Insas or PA forums lah.

i am all ears to hear about how JAKS ALP being a conman. Unfortunately, after me repeating calling for people who claimed ALP conman never gave further details. That's why, online forum give cowards a place to show their existence in this world.
If JAKS not giving dividend, the share price will reflect it with lower valuation. As long as Malaysia gets more educated investors, the market will determine the eventual price.
I actually believe Malaysia has more educated investors than you think. Otherwise, Insas won't be selling at 0.765 when it's net cash already 0.89. I wonder how Insas boss gonna use that money? Private jet? O no, Insas has a good CEO who is polite but then raise money from share holders even though they are flooded with cash. That's called good management and helping share holders?

i am really impressed with JAKS share holders because they don't retaliate like other i3 companies forum. Thumbs up.