CharlieMonger anyone know who are the buyers?

Those who mostly won't sleep well tonight

kinuxian Seeing is believing. These suspicious websites link to USD350mil deal can't be a lie and all these info are searchable and verifiable.

Just saw your link (https://www.nst.com.my/business/2020/08/614448/serba-dinamik-bags-rm147bil-contract-abu-dhabi) where it states the data centre has a capacity of 20MW (a power capability) yet it does not state building a generating plant whether solar or gas fueled.

Looks like the squeeze has started

stocksyndicate Registered at boardroom and verified my email address. But just cant login.

They will manually check your application and advise by email whether successful or not

Here:
https://www.bursamalaysia.com/market_information/announcements/company_announcement?keyword=&cat=&sub_type=&company=1155&mkt=&alph=&sec=&subsec=&dt_ht=&dt_lt=

letmetellyou now only i know, only part of total dividend received are entitle for DRP

It has not been a secret, you need to keep track of the announcements

Dear XXXXXX XXXXXX,


We are pleased to inform you that your online payment via iPay88 has been successful.

Transaction details:

Date/time : 2-Jun-2021 1:44:35 PM
Ref No : RUG1YV8K
Transaction ID : T062775770421
Bank Approval Code : 2106021345130548
Amount : MYR 13.00
Payment method : FPX_HSBC
Product Description : Dividend Reinvestment Plan
Remarks :

Merchant support contact details:

Merchant's name : Boardroom Share Registrars Sdn Bhd
Merchant's phone number :
Merchant's e-mail :

You don't need the email, just log on to https://boardroomlimited.my/

But we still cannot elect for DRP yet, till we receive an email from Boardroom, enclosed with application form, with the maximun entitled electable shares stated in it, right?

Boardroom lists the maximum you are entitled to

I have the receipt for my payment for my DRP, all done and dusted. I just logged onto Boardroom and initially there was nothing there but about 13:45 it listed the Maybank DRP

ChefKarim Good read:

A very interesting read

xiaoGinna6969 now at https://boardroomlimited.my/

I think they gave up with Tricor after the failed AGM

Tollebunsmith,
correct RM10 stamp duty but also a RM3 service charge

I've taken my full entitlement which means an odd-lot. I may round down in the future but each share earns dividend, odd-lot or not

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3163498

I've had my fingers toasted with Serba (and similarly with SCIB). One of the main issues with Serba is plenty of receivables (RM800+m increase over a year) but little cash coming in. ARBB appears to be in the same predicament and their management are exceptionally quiet on the matter. Possibly tellingly, none of them appear to be buying shares at this allegedly "bargain price".

Surely paying dividend is part of a company's operating cost in a similar manner to paying loans, salaries, etc. A robust company's share price should not really fluctuate having gone ex-divi. However, the DRP element does have a diluting effect on share value.

MiaoMiao7 I just bought RM500k before closing with margin, hopefully tomorrow limit up. Wish me luck boys, to the moon. If LD, i go buy charcoal.

Or should that be MAKE charcoal? :)

I had previously said, coupled with a link to the above website (which were deleted by someone), that I was tempted to invest in ARBB but came to the conclusion the 2 analysts reports smelled of a ramp so I declined. I stumbled across an alternative view, as above, which confirmed my view.

Jan 2019 – RM20m ERP Solution – Yes’s Comm. Enterprise Sdn Bhd (“YESS”)

Estimated gross merchandised value (“GMV”) of RM20m. The contract is valid on a yearly recurring basis.

ARB to provide a marketplace platform to YESS to sell and market their products efficiently by implementing a customized ERP System and System Integration Solution (“SIS”). The SIS features include real-time sales tracking, real-time sales and inventory sales interlinking, inventory management, assortment selection and forecast, warehousing, and logistic optimization.

Based on checks, we understand that YESS markets and distributes electronic products via several outlets in Klang Valley.

Author’s remark: A price tag of RM20m for the deployment of an ERP solution seems absurd. No details were shared on what does it mean by RM20m GMV. How much revenue is ARB expected to recognize from the project? What is the quantum of expected yearly recurring income? The lack of disclosure raises our concerns on the management trustworthiness and genuineness of the contract. To date, no information was shared by the management on the progress of the project.
Mar 2019 – RM78m IoT Solution (Smart Home) – Perkasa Selalu Sdn Bhd (“PSSB”)

The total contract sum of RM78m comprises IoT works, RM27.3m (35%), and outsourced construction works, RM50.7m (65%). ARB assists with identifying and outsourcing construction work to third party/(ies).

The contract involves the development of a single tower serviced apartment comprising 39 commercial and 286 residential units.

Based on disclosures, PSSB incorporated in Perak in 2014 has a paid-up capital of RM2 only. The directors are Chin Kok Hoong and Chin Kok Foong.

Author’s remark: Like above, RM27.3m for implementation of IoT solution for 325 units seem overly inflated at about RM84k per unit. Even so when compared to the estimated construction cost of ~RM170k per unit. Furthermore, PSSB’s director, Chin Kok Foong is believed to be Dato’ Sri Chin Kok Foong. Dato’ Sri Chin has personal ties with Dato’ Sri Liew as they both are the current executive director of Ageson. Similarly, no information was shared by the management on the progress of the project to date.
May 2019 – RM18m IoT project (Smart Home) – IJ Ventures Sdn Bhd

The total contract sum of RM18m comprises IoT works, RM6.3m (35%) and outsourced construction works, RM11.7m (65%). The contract involves the construction and deployment of IoT for 130 units single-storey terrace houses in Perak.

Based on checks, IJ Ventures is a company involved in construction works, building contractors, and property development.

Author’s remark: RM6.3 million for the deployment of IoT for 130 houses would be equivalent to RM48.4k per house. The amount seems overstated. If IJ Ventures themselves are building contractors, why would they need to appoint ARB to outsource a portion of construction works when they have their own expertise/network? Similarly, no information was shared by the management on the progress of the project to date.
Jul 2019 – RM600m IoT project (Smart water filtration system) – Shuifa IoT Tech Co., Ltd

The project involves the application of IoT-enabled hardware and software to the printed circuit board of household water filtration system to enable data exchange and remote control of water temperature etc.

The project value of RM600m was arrived at on the estimation of 300,000 households. Tenure is 2 years for implementing the first phase (300,000 households) of the project. No further disclosures were made on the project location and project progress etc to date.

and then look for ARB

Find:
the1994investor

To be transparent, I bought into Serba 19th April as having been in O&G for a number of years I expected service companies share prices to increase. There was an initial loss of not too much. When Serba wanted the SPAC, I didn't agree with it. I wanted to sell but thought the share price would increase a bit. Then yesterday and today happened. I sold today at a circa 48% loss but feel much relieved for selling.

Really my mistake for not looking deeper at Serba and seeing that Karim was involved having brunt my fingers with SCIB.

If me losing my money in Karim's companies brings him to his knees, I'll take it on the chin

Superhero9188
It is not a comment or comments but "findings". Something that does not tie up with corporate governance

Negative links are deleted

there is censorship going on with this board on ARBB

bearguy
The money has to be proven to be there. The amount in dispute was roughly 30% of the company value, now more than 50%. If the contracts are a paper exercise, some persons may have pocketed the difference between selling high and under delivering.

CharlieMonger
welcome. You didn't exist before today. Are you Karim?

You should also consider what happened at SCIB. Used as a money making ploy for Karim and Roslan

Joyvest.
Basically, only Serba Dinamik can save its own butt now and nobody else..........

I think a human sacrifice is required

Riaz1954
could it be that Serba senior management own those companies (my suspicion) over charging and underdelivering? The contracts probably weren't tendered nor any price comparison made - generally against most company rules

sugarbest can be..used to work there..they are not that "great"

If that is the case, given the result of the audit and the seriousness of its implications, wouldn't the KPMG audit team leader have to present the findings to KPMG's senior management or higher? Someone has to review the findings.

For me it is very telling that the audit results were presented to the non-execs and not Serba's senior management, my interpretation is they didn't trust Serba's senior management. Again the step of presenting to non-execs must have been approved by someone high up KPMG.

“It is the MICG’s view that in this scenario, none of the directors who are shareholders should vote on the matter, irrespective of whether they are executive or non-executive, independent or non-independent. It should be for other shareholders to hear both viewpoints and vote accordingly,” he suggested.

“More information should be provided to the shareholders to facilitate a proper understanding of the dispute before any vote.

“It is appropriate, therefore, for an independent review to be conducted. The professional and ethical standards applicable to that review should be identical to those applicable to a statutory audit. In this regard, the appointment of BDO is a correct step, but KPMG should remain on board to provide any information and clarification that may be required,” he added.

Additionally, he said any committee set up by the board with oversight of the matter, when referred to as an “independent” committee, should be just that — being independent.

“There should be no executive director or other management on the committee, or any non-independent director. They can be available to answer questions as required,” he pointed out.

“The external auditor is obliged to ascertain whether the company’s accounts represent, in its opinion, a true and fair view of the concern’s financial status. In this case, the financial values are significant, adding extra weight to the need for the auditor’s independent opinion,” he added.

On top of that, he said for the executive to suggest that the independent directors are unqualified to understand the accounting issues would be an attack on the competence of the company’s audit committee, which is composed of independent directors.

According to him, criticising the auditor for addressing its concerns to the company’s independent directors is perverse.

“Against that background, the silence of the audit committee and the company’s independent directors raises questions,” he said.

“More light is needed on the audit committee’s findings and its recommendations to the board. These should be revealed to shareholders in the extraordinary general meeting (EGM),” he added.


https://www.theedgemarkets.com/article/micg-dispute-between-serba-dinamik-and-external-auditor-raises-serious-governance-concerns

bobvic96 RJ87 I see what KPMG doing. They didn't say its fraud. They say I can't go verify only. Now, pay my first class flight ticket, 7 star hotel and my quarantine allowances. This issues will be resolved by next month.

Why would they do that as it would be certain that KPMG would no longer be Serba's auditor once signed off and as said above you do not willingly lose an RM6b client?

https://www.theedgemarkets.com/article/kpmg-raised-audit-issues-transa...
Very interesting in section (B). I suspect this is why KPMG presented their findings to the non-execs rather than management.

Unfortunately, I believe this will be much larger than a squabble between Serba and KPMG. Hopefully, the company will survive but, I've resigned myself to losing most of my investment.

Not much relevance to a TP without a timeframe. “Soon” doesn’t count as it describes a period of time between now and infinity, usually closer to infinity

Yogibear126 Hmmm how many years would it take ??
From odd lots to become normal ??

In my case with CMB it would take a couple of dividend rounds to enable me to balance in full lots. If you have more shares you can specify just enough DRP shares to balance the odd lot at the next round.

Having the maximum DRP shares ensures you make maximum advantage of the dividend as the odd lots also generate dividend.

If you take everything cash and then purchase MMB shares, you would waste quite a bit of money buying shares on the open market as the MMB share price is showing today. If you want to use the money to buy other shares, then OK. However, MMB seems to be the best bang for the buck (dividend cents per ringgit invested) in terms of share price, resilience and security - better than Tenaga which a number of punters are very enthusiastic about.

https://www.thestar.com.my/business/business-news/2021/05/28/serba-dinamik-shares-continue-to-be-suspended

Meanwhile PublicInvest Research said on Friday it was understood that investigation is currently on-going, which also involves some other regulatory bodies.

“While the group’s management has clarified there is neither fraud nor any wrongdoings involved in the course of business during a specially-arranged briefing which was attended by c.200 people, the request for a special audit review has nonetheless raised concerns on governance-related risks.

“No specific timeline been given though the plan currently is to appoint an independent auditor soonest possible.

“With these issues likely to take a while to resolve and pending its outcome, we are compelled to tag lower earnings multiple to our estimates to account for a potential financial reporting quality risk factor. Earnings estimates are unchanged at this juncture, as business continues to run as usual.

“We cut our TP to RM1.39 (from RM2.37 previously), based on a -2SD 3-year PER multiple of 7.5x. Our call is also lowered to Neutral, ” PublicInvest Research said..

kadilong thanks kfliau and intrigue83 for the info
@kfliau so after submit for DRP , wont get any odd lot,am i correct ?

With CIMB I could specify how many shares I received under DRP up to the maximum allowed (based on the strike price and my DRP dividend allowance). As I am (will be) a long term holder I just bought as many as allowed, including an odd lot. That can be balanced out in the future

VWAP crept up to 8.375 with the buy at 8.4

tollebunsmith a few funds are nibbling .. one just sapu 200k shares at 8.39:

Must be expecting the ex-price to be 8+

RM2.428billion net profit, an increase of 18.9% or RM458.892 million higher than previous. 40% of that is RM183.557 million that should be additionally available as dividend at some point on what is already a good dividend payer (assumes other quarters are OK).

I agree with Tollebunsmith's ex-price

Commendable (but lower) earnings for Q1, 21. Dividend 1.65 sen
https://malaysiastock.biz/Company-Announcement.aspx?id=1318927

yongwc2710. I believe you have to register with Maybank's Registrar (Tricor) who deal with the shares' admin on behalf of Maybank. The registration is quite easy and then you can access the AGMs, etc. online. You should be able to specify your DRP preferences online. I haven't used it yet but when I saw that 'attendees' at the online AGM got RM100, I thought why not.
https://www.maybank.com/en/investor-relations/dividends/dividend-reinvestment-plan/registrar-contact-details.page

DRP issue price: Malaysian Ringgit (MYR) 7.5500 - only on 21 cents of dividend

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3156799

What happened today? Open at 8.12, dropping to 8.02, closing at 8.60 - grateful for the about turn

Your wishes may come true:
https://www.theedgemarkets.com/article/regulatory-issues-bog-down-tenagas-share-price