Good morning, so Mad Cat is back to suck up Chef and gang disposal on Monday? Good luck on your buy, you all really need it fateful fans of Serbak before it moves into PN17 Status which I perceived would happen.

https://www.malaymail.com/news/money/2022/05/05/serba-dinamik-to-file-regularisation-plan-in-eight-months/2057286

Chef and gang got no money to pay the compound as all their personal bank accounts are frozen. So Serbak post suspension can sell their shares to pay for compound?

"Meanwhile, Malay Mail reported that the SC has granted Serba Dinamik and its top executives a two-week extension to settle their compounds (from April 28 which was the original deadline to pay up)."

“Sources said the company had appealed for an extension which was immediately rejected by the SC. A subsequent appeal was made by the company, citing difficulties in raising the money because their accounts had been frozen,” noted the English daily.

“Following discussions with the AGC, the SC agreed to extend the deadline by another two weeks which is understood to be on May 12.”

A little bird in the know – someone in the PM’s entourage – has revealed that while visiting the Malaysia Pavilion @ Expo 2020 Dubai on the penultimate day of the global trade showcase, the PM had “bumped into” Serba Dinamik Holdings Bhd group managing director/CEO Datuk Mohd Abdul Karim Abdullah and few other directors who happened to be on-site.

This is not surprising given that the global integrated oil & gas (O&G) outfit was a premier partner for the Malaysia Pavilion.

Interestingly, the source also shared that the Serba Dinamik management team led by its head honcho Abdul Karim had a “short meeting” with the PM.
https://focusmalaysia.my/is-there-a-dubai-link-to-the-ags-decision-to-...

Good morning, decision time soon for Serbak losers, to sell or keep for the next generation? Ozark fans have been complaining about the lousy anti-climax Part 2 of Season 4 so do losers in Serbak on 9th May?

Aiyo among Awesome TV's directors are Shoplot chairman and his son.

Dun worry 8899EL8899 said the Minister, our next export products will be ketum and cannabis. Or so we will work towards spreading drug addiction as a way of life for the entire world. Heck we can't beat it we embrace it. Hopefully our land of plentiful will be Asia golden triangle in a few years.

So we hope our Singapore brothers will also legalise both products saving us the burden of appealing for clemency from the hangman's nose each time.

8899EL8899
malaysia have so much of natural resources,......sell a lot of palm oil,........yet, currency keep falling,.....soon become like africa country,......very sad

Good morning, Ozark serial has ended happily, while Serba collapsed has more investors crying and cursing, while the BOD happily go scot-free. Corporate governance politico drama rules the event. It was the AG that gave the decision to let the wrongdoer go scot-free. Will it set a precedent that Bumi company is untouchable and can do no wrong in the capital markets? So investors please be careful when you invest in the Bumi companies.

69

Classic corporate collapses can only happen in Malaysia where main players got exemptions from jailed terms for fraud.

Bad timing, bankers/lenders already applying for liquidation.

ken2004

Sorry to said, making the same mistake twice means you really deserve that to me, from the moment from 1++ drop till 30c++ period, it is already a proven mistake to catch the falling knife, so still dreaming on all the so called good news in 2021, will be another fatal mistake. KWAP quietly already throw all their stock without anyone knowing, those so called PNB, EPF etc have no issue to absorb this total loss at all as they are larger fund where they lost here, they can earn back somewhere.....for you, this is not the same case............my price estimate after 9 May will be below 5c.....

57 minutes ago

Get a contract in a bankrupt country, Nepal just blocks the importation of luxury goods due to a lack of foreign currencies.

Mini Serbak could be anything -staff stealing from shareholders, staff in cohort with directors to steal, fake invoices to window dress turnover etc. The Whitsel blower is a staff and alerts the independent director of what the top managers are doing.
On circumstances leading to the forensic investigation, Caely said: "One of the independent non-executive directors [of Caely] received an anonymous package containing documents raising concerns on several suspicious transactions involving CMSB.”
https://www.theedgemarkets.com/article/freeze-order-lingerie-maker-cae...

Insas, at beta 0.38, movement does not ape CI. Will move at its own pace, slightly difficult to predict. Stable price but not for speculation

Seriously, organised fraud, with fake contracts and artificial sales, expenses, fund flows and imaginary profits and dividends paid all out of funds raised from bonds and rights?

i3lurker

The Edge info on the Fook Fook You means that its Organised Crime.

The Edge info is so interesting that Serba has the rubber stamps of Petronas, Shell, all customers and all suplliers............. shareholders are totally fooked by the Fook Fook You.....

12 minutes ago

Good morning Master-Chef kitchen episode never ending. Drama after drama, longer than Law & Order series on court cases.

Vincent's strategy is good. He appoints a Bumi to lead the group and as we know in finance he is a hopeless lot. Can dream of big ideas but the execution needs lots of money. So trusted VIVIENNE CHENG should be able to stop any reckless scheming ideas and keep the group afloat to pay interests and work for the banks.

This counter is like MuiB. But only many times bigger. Too many properties in the portfolio but many not able to be utilised for productive purposes.

warchest

Not easy to turnaround this underperformance elephant, when it was surrounded with many warlords, heirs and heiresses

47 minutes ago

The cock scolded everybody when people are critical of Jalil and Bjcorp. Now he knows. Proposal to sell Bjtoto is like cutting the cockhead of BJgroup. With the head gone the body will collapse.
scanluver

Aiseh, c0ckraider's Batikman wet dream is already a nightmare. LOL

Phoebe

I hope stockraider be strong. Hopes his super jalil dream n hopes not crushed

2 days ago

Armada being played like Top glove. Bankers and financial institution lending shares to short the market. The only way is to wait for Bigboss to come in to mop up the share.

All types of commodities and metals prices expect to move north as there will be prolonged economic wars between Russia and the west. Welcome to the future where physical war or battle will be targetted with fewer human lives lost, more of battle at all fronts including cyber and economic tools where victory could be less clear and battle prolonged.

"The US and EU – and the UK, too, once it gets its act together – will move to effectively cut off Russia from global financial markets. This will have wide-ranging economic impacts, as Biden himself has already acknowledged. Russia will respond by taking action to weaponise its own debt stock in the event of a freeze, but also likely intentionally seek havoc on hydrocarbon markets. Medvedev has promised Europe should prepare for sky-high gas prices for the foreseeable future. The effects will be felt far beyond Europe. Russia and Ukraine remain the key global breadbaskets in terms of grain production, and Russia has slowly been consolidating political control over its grain trading and fertiliser industries. The aforementioned Deripaska sanctions sent aluminium markets into a tail-spin and many metals could be similarly affected again in the current crisis. Russia will also further invest in efforts to undermine the US-led financial order, though it cannot have any hope of success here without full coordination with China at a minimum."


https://www.aljazeera.com/opinions/2022/2/24/russia-and-the-west-are-m...

Latest Quarter unaudited looks like ongoing cleaning of past creative accounting. Profit down severely and the lowest NTA in recent time. Perhaps lessons already learnt from the Serbak fiasco. But as in all Chef companies, will have to wait for an annual audit to determine the real results.

Good year for oil prices moving forward.

"The US and EU – and the UK, too, once it gets its act together – will move to effectively cut off Russia from global financial markets. This will have wide-ranging economic impacts, as Biden himself has already acknowledged. Russia will respond by taking action to weaponise its own debt stock in the event of a freeze, but also likely intentionally seek havoc on hydrocarbon markets. Medvedev has promised Europe should prepare for sky-high gas prices for the foreseeable future. The effects will be felt far beyond Europe. Russia and Ukraine remain the key global breadbaskets in terms of grain production, and Russia has slowly been consolidating political control over its grain trading and fertiliser industries. The aforementioned Deripaska sanctions sent aluminium markets into a tail-spin and many metals could be similarly affected again in the current crisis. Russia will also further invest in efforts to undermine the US-led financial order, though it cannot have any hope of success here without full coordination with China at a minimum."


https://www.aljazeera.com/opinions/2022/2/24/russia-and-the-west-are-moving-towards-full-out-economic-war

Mana mau cari RM7.4 bill, and leasing liability of RM13.9 bill in the medium term? Likely to crash sooner or later.

The research house CGS-CIMB pointed out that satisfying Bursa Malaysia involves restoring shareholders’ equity to at least 50% of Capital A’s RM8.5 billion in paid-up share capital — a tall order considering the company had a negative shareholders’ funds position of RM3.2 billion at Sept 30.

“In order to be uplifted from PN17, it will need a RM7.4 billion boost to its shareholders’ funds on a pro forma basis,” it said in a note.

One likely accounting option to reduce the gap would be for Capital A to obtain shareholders’ and court approval for a capital reduction, it said, something that would make it less onerous to meet the 50% target.........................

AirAsia’s lease liabilities amounted to RM13.9 billion as of the third quarter of 2021. It had managed to rewrite 17 leases involving a waiver of RM187.8 million, but it still has over 140 aircraft leases to be renegotiated.

https://www.freemalaysiatoday.com/category/highlight/2022/02/25/airasi...

It is not Harapan that failed. Harapan came in with the hope to clean up corruption but it found out that kleptocracy has indeed spread into the very fabric of the society leaving too many poor among the Malay despite 60 years of NEP. The restructuring of society was a failure. Instead of progress, it became a free for all stealing among the elite Malays at the expense of the poor. The situation is so bad that the poor are now too dependent on handouts which they believe only the corrupt can dish out such goodies.

Third world war is possible as all the past 2 world wars started in Europe. Now with nuclear arsenals to be deployed by madman Putin. This man is unstable and was responsible for the shooting of MAS plane over Ukraine.

DONETSK, Ukraine, Feb 19 (Reuters) - Russia's President Vladimir Putin was set to oversee exercises by strategic nuclear missile forces on Saturday as Western leaders gathered in Munich, fearful that he could order troops massed on Ukraine's border to invade at any time.

Russian-backed separatist leaders in eastern Ukraine declared a full military mobilisation, a day after ordering women and children to evacuate to Russia, citing the threat of an imminent attack by Ukrainian forces. Kyiv flatly denied the accusation and Washington said it was part of Russia's plan to create a pretext for an invasion of Ukraine. read more

Signs of imminent war, the oil prices will jump.

Warning sirens blared in Donetsk and Luhansk on Friday after rebel leaders there announced the evacuation of hundreds of thousands of people to Russia.

"We have reason to believe the Russian forces are planning to and intend to attack Ukraine in the coming week, in the coming days," Biden told reporters at the White House, adding that Kyiv would be a target.


Late on Friday, Ukraine's military intelligence said Russian special forces had planted explosives at social infrastructure facilities in Donetsk, and it urged residents to stay at home. The Russian Federal Security Service did not immediately reply to a request for comment


Earlier, separatist leaders in Donetsk and Luhansk issued video statements in which they announced the evacuations and accused Ukraine of preparing to attack both regions soon - an accusation Kyiv said was false.

https://www.reuters.com/world/europe/shelling-breaks-out-east-ukraine-west-moscow-dispute-troop-moves-2022-02-17/

More exposure of corruption to silence Andy Hall.

Ramachelvam said Hall stood by his remarks claiming that the recruitment firm boss had tried to entice him with a consultancy at a Johor company, ATA IMS Bhd, which made him feel it was a form of corruption and bribery.

https://www.freemalaysiatoday.com/category/nation/2022/02/18/activist-stands-by-comments-about-company-boss-says-his-lawyer/

Good morning Huangbk72, Kacang putih already gone mad, articles after articles without any substance. No cure.

Posted by Huangbk72 > Feb 18, 2022 10:35 AM | Report Abuse

As usual spinning stories with no inkling of basic accounting terminologies.

KPMG was saying financial transactions

EY was saying financial impact.

Apples can compare to oranges? LOL

Really GILA this Kacang Putih. Trying to scrape bottom of the barrel for justifications.

Yeah it is high time to make corporate thieves accountable.

Sslee i3lurker,
No worries Pearlwhite will start a class action suit to claim shareholders losses from the directors.

https://www.freemalaysiatoday.com/category/opinion/2022/02/16/personal...

Fund managers, retail investors and independent directors have been watching the outcome of a large payout for shareholders in a recent class action suit. It was the first ever collective investor action, where over 55,000 shareholders won a court-ordered payout of approximately US$385 million (RM1.61 billion).
17/02/2022 2:12 PM

Invasion to start on Wednesday? wow, oil price will be all time high.

https://www.thestar.com.my/news/world/2022/02/13/us-officials-won039t-confirm-reports-on-possible-russia-invasion-of-ukraine-on-wednesday

Russian invasion of Ukraine imminent, oil price going to hit the sky. Russia going into recession and Putin need an excuse to prep his popularity at home.

https://www.youtube.com/watch?v=QPMEQX17rdA

A long period of attempting to hide the truth. Looks like the end of the relationship between ATA and Dyson. No new high-value supplier results after June will be bad.

Reuters reported on Nov 25 and Dec 5 that ATA's mostly migrant workforce did overtime hours exceeding Malaysia's legal limit of 104 per month, and worked on Sundays. Citing 11 employees, Reuters also reported on Dec 5 that ATA had coached staff ahead of labour inspections to hide true working and living conditions, and employed foreigners without permits.

ATA acknowledged publicly on Dec 7 some violations, made some improvements, and said it now complies with all regulations and standards.

In a statement to Reuters on Friday, Dyson said it conducts frequent audits to monitor its supply chain and make improvements, and that it terminated its contract with ATA after the supplier failed to take swift action on a recent audit.

ATA was audited six times between 2019 and 2021, it said.

"During this period we demanded, and achieved, numerous improvements for ATA employees, including ensuring that more than 1,250 ATA workers had recruitment fees reimbursed to them on a point of principle," it said.

"We received the results of the final inspection in October 2021, at which time it became clear to us that ATA management was not acting swiftly or vigorously enough to respond to Dyson's demands for further improvements. We therefore moved quickly to terminate our relationship, with six months' notice, enabling an orderly withdrawal."

UPlanet https://www.theedgemarkets.com/article/dyson-faces-claims-former-worke...

Coldeye must be a top 30 shareholder?

Yippy68 @Coldeye is laughing to the bank, he is waiting for the listing of MBSB bank, He is the most endurance investor that holding 44 M share for a long term gain. 5 years for a profit of 20M if price gone up to 1.00, my respected sifu. @jerichomy all the while condemn this counter,
11/02/2022 9:37 AM

Not surprised, when you have this type of management. KPMG, EY, Bursa and SC all got it. Ala Bosku.

Posted by newtrader1989 > Feb 11, 2022 9:24 PM | Report Abuse

Hahahaha later sue the Judicial Manager. Hahahahaah

Clap2, hope creditors reject the management intention to protect the company and its subs.

Posted by i3lurker > Feb 11, 2022 9:09 PM | Report Abuse

Judicial mgr is for 6 months, then extension 6 mths ... after that cannot be extended anymore.

also Court must be convinced that Judicial mgr has support of 75% of any class of creditors.

any creditor with more than 25% can apply to Court to object appt of Judicial Mgr and Court will (100%) NOT grant order.

Court cannot go against Act of Parliament

Are you sure the "independent judicial manager" is really independent? Who hired and fired the judicial manager?

Osman65 Judicial management is a method of debt restructuring where an independent judicial manager is appointed to manage the affairs, business and property of a company under financial distress. The company is also temporarily shielded from legal proceedings by third parties, giving it the opportunity to rehabilitate.
11/02/2022 8:47 PM

By right Kpower should move in tandem with the KLCI with beta of 0.91. But this time sudah lembik!!!!

Just for CNY trapped.

gangnam Lol....Operators already back? Will Uncle Tan go for one day show or have month long celebration like last year?
11/02/2022 10:38 AM

From Day 1 listed it has not made any money. It needs a miracle to make money. Whoever bought these shares lost their pants.

hassim85 conso share today ya.. gud luck to all shareholders
10/02/2022 8:19 AM

Court clearly said Bursa as a regulator of the stock market it is within its power to suspend Serbak. Let's hear from Kacang putih on this.

Posted by neohts > Feb 10, 2022 4:49 PM | Report Abuse

https://www.theedgemarkets.com/article/high-court-dismisses-injunction...

the apex court had last month ruled that there was no mandatory requirement on Bursa Malaysia's part as a stock exchange to immediately delist a company when a winding-up order is made against the listed entity, when it dismissed the interpretation of the liquidator.

Top management, always tipu, talk to the tealady, she will have more to tell unless off course she has already been retrenched.

Posted by tradersampah > Feb 10, 2022 3:08 PM | Report Abuse

i have verified with one of serba dinamik top management, BAU is on going no issue. no disposal news at all.

Because you guys put in CAPITAL(Rights and PP) and Tony will use it. Tony flashes an A (for your goodness of heart)

Babita why call CAPITAL ?
10/02/2022 10:41 AM
10/02/2022 2:00 P

If the oil price does not move to USD100 and beyond and next quarter results is below expectation it will be down below 50 sen again

Robert Waters I guess BA investors will have to wait 52 weeks for a new year high. That is the pattern. Small rally in January, then sideways or down next 12 months. We are a very patient, tolerant bunch. Like no others.
10/02/2022 9:59 AM

This counter is like Berjaya Corp/ Bjland Bhd no punters and institutions trust the owners of the companies.

alenac At Beta -0.33, dead stock unless significant events that affect prices then it will move.
10/02/2022 10:44 AM

Wow Sslee, you got great fans over in I3i? That love and hate relationship with them.

Posted by Sslee > Feb 9, 2022 7:12 PM | Report Abuse

Many people have their own way to express their anger, anxiety and helplessness and I choose to pray and ask others to pray to relief my anxiety and helplessness.

More of a*ger, hatred, jealousy & childhood deprivation.

Posted by FutureGains > Feb 9, 2022 6:47 PM | Report Abuse

not hatred..he just kind of expression...

The court cases are no more money game but to prevent the disclosure of pieces of evidence that could amount to criminal offences on the part of the BOD. So Fcuked other shareholders, period.

Another blow for those desperate to exit....

Following the appeal to stay put the decision made by high Court, its going to take sometimes for the Appeal court to hear the case as a result of which no lifting of suspension is expected to arise in the interim


Posted by alenac > Feb 8, 2022 1:31 PM | Report Abuse X

Another delay game in court as I said previously may end up with Bondholders winding the company up before any court decision is made.

“We are submitting an appeal to the Court of Appeal … Meanwhile, we have applied for a stay pending our appeal yesterday,” a company source told FocusM. “The outcome should be known tomorrow (Feb 9) or the day after (Feb 10).”

If Serba Dinamik gets its way, then the counter shall remain suspended indefinitely, so to speak, as “the appeal process will be three months away”, according to people familiar with the matter.

https://focusmalaysia.my/serbas-has-filed-a-stay-on-kl-high-courts-48-...

Maybe his mother is already dead. Nobody as insane as him will say that unless ......

Posted by uncensored > Feb 8, 2022 1:33 PM | Report Abuse

Jeichomy are you human being ? From the way your speak we can see how evil you are. My goodness what a indecent dumb are you...



>>>>>>>>>>>>>
Posted by __Jerichomy > Feb 8, 2022 12:08 AM | Report Abuse

DickyMe @ DickyMe if you are a gentleman lets place a bet. If tomorrow HiapTeck falls to 30cst I will sleep with your mother and if it goes up above 52 cts you DickyMe will sleep with my mother with my blessings.

Another delay game in court as I said previously may end up with Bondholders winding the company up before any court decision is made.

“We are submitting an appeal to the Court of Appeal … Meanwhile, we have applied for a stay pending our appeal yesterday,” a company source told FocusM. “The outcome should be known tomorrow (Feb 9) or the day after (Feb 10).”

If Serba Dinamik gets its way, then the counter shall remain suspended indefinitely, so to speak, as “the appeal process will be three months away”, according to people familiar with the matter.

https://focusmalaysia.my/serbas-has-filed-a-stay-on-kl-high-courts-48-...

Beta 1.82 sure good for day traders. But dun get trapped.