Should the Audit and investigations turn up fraudulent activity, then I believe the shareholders who lost money can sue the members of the Board personally. The Chairman in particular made pubic statements that there was nothing wrong. If the Directors they made such statements which they knew (or should have know) were blatantly incorrect for the purpose of discouraging the sale of shares by investors, and or fraudulently encouraging investors to purchases shares on reliance of the statements publicly made, then I expect they are liable personally for their actions and will be required to make good such losses.

Should the Audit and investigations turn up fraudulent activity, then I believe the shareholders who lost money can sue the members of the Board personally. The Chairman in particular made pubic statements that there was nothing wrong and that the Auditors were wrong.
If the Directors they made such statements which they knew (or should have know) were blatantly incorrect (as they were advised by the Auditors) for the purpose of discouraging the sale of shares by investors, and or fraudulently encouraging investors to purchases shares on reliance of the statements publicly made, then I expect they are liable personally for their actions and will be required to make good such losses.

Beware: Bursa Malaysia warns Sarawak Consolidated Industries Bhd (SCIB) that the stock exchange will suspend the construction firm’s securities from trading starting next Tuesday (Nov 9) if it is unable to submit its annual report for the year ended June 30, 2021 (FY21) by next Monday.

Get out, by close trading Monday... or be locked in.

Top Glove is sitting on a massive loss on its 'buy back' shares. Instead of marking to market, Top Glove are now claiming that these 'buy backs' are not an investment claiming instead "they are an equity" and therefore the huge loss in value does not need to be accounted for by way of mark to market.

Top Glove (and I assume other companies they are associated with) are not going to account for their massive losses in value on buy back shares. In Top Gloves case a massive loss of 921,000,000! Instead Top Glove is going to hide the loss, and maintain the shares on its books at cost, even though it is highly unlikely they will every be worth that much again.

The problem with this is that Top Gove (and likely associated companies) will now have an unknow undeclared hundreds of millions of losses hidden in their books NTAs. A dead and putrid body in their closets! In they are short will set about cheating and defrauding investors who will now unknowingly looking at false and highly overstated NTAs.

Be warned fellow investors, if the KLSE and Auditors allow Malaysian Public Companies to get away with hiding these huge losses, then henceforth Malaysian companies Audited accounts cannot be trusted as they are fudged. All Assets marked as Equity will have to be considered to having no market value as such need to be deducted from their NTAs.

Hopefully common sense will prevail and this misleading and, in my view, plainly fraudulent activity will not be allowed.

Is the announcement incorrect?

Waaa sell 27,537,356 shares, then buy 11,000 just to say he can tell the judge that he was a buyer and a seller. What a hero!

Layman2020, it must be Mabel, Fake millions shark bilis sohchai, Interfund, Pearlwhite, Janetan, Trader Sampah and Gloveisgreat are buying all the SCIB shares the Directors are dumping at 15.5c. You think?

Do you think Mabel, Fake millions shark bilis sohchai, Interfund, Pearlwhite, Janetan, Trader Sampah and Gloveisgreat are buying all the SCIB shares the Directors are dumping at 15.5c
They are so in love with Karim sure they are the buyers...... You think?

Directors of SCIB (who are insiders and know exactly what the problem is with the accounts and have refused to announce it) are desperately dumping all their SCIB shares that they can at 15.5c a share. Not at a premium, but at 30% below market! SCIB and SERBAK are the same boat.

No need to pay 40c, you can buy all the shares you want from the Directors who are insiders who know the problem with the accounts and are they are dumping all they can at 15.5c.

How long must hold? Till your next life!

Big insider sold another 12.8 mil shares in SCIB today this on top of the 14.7 Million shares sold on Friday.

Wonder when Bersa is going to stop insider trades.

Its a known fact that when a ship is sinking the rats are the first to abandon ship. They live in the bowels of the ship and are the fist to know its sinking.

Karim who must be in possession of the reasons SCIB has not been able to get its accounts audited dumped another 12,817 shares in SCIB today, this is in addition to the over 14 mil shares he sold on Friday. We can only wonder at Bersa inaction on Insider trading again!

Markets in panic all running here and there, like cooks with heads cut off, lots of buying and selling weeping and wailing. Look at the volumes, Bursar making lots of money out of the mess.

Div yield now 8.2%. Grab both hands.

Total volume 12 mill x 22.5 = 2.7 mil Ringgit. Small amount for some. I suspect someone is buying to avoid big margin calls.

Curious, who's the brave party that bought the 14,350,000 shares in SCIB at 26.5c from Karim. They are already burned fingers, suffering a big paper loss. If they have gearing then die lor.

Karim cashing out. He sold 14,350,000 shares in SCIB on the 27th Oct @ 0.26c each. SCIB under threat of suspension due to failure to Audit. The shareholders of SCIB are taking a scalping as they have done here. More insider trading! Bersa must now suspend SCIB to stop him selling more shares while in possession of inside information.

Smell that....... that is the smell of frying mushrooms.

Your mothers should have told you, don't play play with rats, you may loose fingers or die.

At last close Market Cap was 1.3Bil (if and the shares are traded again the Market Cap may drop to next to zero ).
Bonds and short term loans coming due in the next few months at least 1.7Bil.
No audited accounts, cash flow negative, reputation of Directors burned, ratings downgraded to mud, bankers all shivering. Even if (huge if) no muck is found in the review, there is no chance of refinancing 1.7Bil coming due. Gone case.

To sue people is not cheap, lawyers are very expensive. For sure he is not using his own money to pay, he's using SDs money. This is why some of the Directors resigned. They abandoned the sinking ATM they helped Karim create and run away. Sadly the remaining Directors are frightened little eunuchs, to scared of Karim to move, just sit there shivering, do nothing, see nothing, say nothing. Just take money.

The so called Independent Directors are not saying anything just sitting there collect fees.

By their silence they are shown to be simply Karim yes men in drag. Their expensive honorable titles and their reputations now worthless, sold to Karim.

At least Tropicana's Directors honorably resigned rather then become Karim's poodles.

They cannot run form the fact that Directors traded in shares and warrants when in possession of inside information. They acknowledge they had been been briefed by EY, and the public had not, therefore they were in possession of inside information good or bad as such they have an unfair trading advantage. The wise and proper thing for them to do would be not to trade until all matters relating to the report are released. Without question they have indulged n insider trading and the Stock exchange must act.

According to the new release SD has informed the SEC “There were no documents or copy of any documents that fit the description of ‘Factual Findings Update as at Sept 30, 2021’ given to the independent non-executive directors as at Oct 22,” the group said in a filing with Bursa Malaysia on Monday".

Read carefully mushrooms. That's a very narrow interpretation.

Hello little mushrooms. I see the terms of SIR arrangement “prohibits any quoting or references to any report, any portion, summary or abstract thereof". Wow he is very afraid his little mushrooms may see some daylight, so he making dam sure no one can see or find out what nasty things are uncovered. Poor little mushrooms must remain in the dark and be fed cow dung. Enjoy!

My guess is the SIR will come out when they have finished doctoring it. However, it will be a pretty pointless document as it has been so long at the doctors it will no longer be credible.

Market Cap 1.3Bil Bond coming due 1.7Bil.

https://www.theedgemarkets.com/article/sp-downgrades-serba-dinamiks-rating-further-ccc-b-growing-refinancing-risks

Talk or privatization is nonsense, just look at the its Bond situation which is worse than Dire its terminal! SD needs to refinance 1.7 Bill in bonds within the next 7 months or so, and in addition likely need a further 400 to 500 Million in working capital. Who in their right mind is going to lend SD huge money, you should no dead rats cant borrow money. SD cannot even produce audited accounts. Refinancing of Bonds of this size should have been in place already.

Problem the Company is now forced to unwillingly release information, which they will do, but watch, they may only release the bits that are ok. So folks you will learn what its like to be a mushroom, mushrooms are grown in the dark and feed on cow dung. You watch what they release. it will not be the whole report only bits, doctored bits... cow dung!

Don't play play with dead rat.

KLSE the world is watching. If you tolerate blatant insider trading what's next? Why have rules and laws? why have governorship of the KLSE? Just give the job to monkeys.

Lets be clear, if you trade in your shares or warrants while in possession of information that has yet to be released to the public you are insider trading.

In this case selling all your warrants while in possession of inside information is a crime, buying the mother shares while possession of inside information is another crime.

By selling all your warrants then announcing that fact (again without revealing the inside information) your actions caused the mother share to drop. You then take advantage of the drop to buy the mother shares at a steep discount. That's clear market manipulation of your shares also a crime.

If you bought the warrants or sold the mother shares in this hiatus you need to consult your lawyers because you were screwed.

Folks if you see what is obviously a dead rat don't go play play with it.

fusing79. If your a long term investor of a share then take up the maximum DRP and don't worry about odd shares of less than a lot as in time you can add to it in future DRP issues to build up to a full lot (100 shares). However if your if short term trading, then it may be better to only take up full DRP lots as its difficult and expensive to sell less than a full lot. You can always sell the full lots of DRP shares once they are issued if you want the income. DRP shares are cheap shares usually worth quite a lot more than taking the optional cash dividend.

Its a great deal.

Remember its a fixed price contract, no materiel escalation allowed, no force Majeure to allowed under the contract for increases n costs including delays due to Covid. These are contract killer issues that MRCB being a Bumi company with EPF as the major shareholder will likely be able to resolve with the Government. Having GK as a partner it was unlikely 'deals' that could be done on any cost escalations.

Now that GK is out it will be interesting to see how this "fixed price" contract escalates in price and time, and to see if MRCB can even deliver a reliable system having never done so before.

Further, the business relationship between partners had fallen out of love to a point where a divorce was inevitable. I think its a great deal to walk away from a unhappy partnership and from a potentially killer contract intact and with a large lump of cash.

Congratulations GK.

27 Aug 2021 RHB Banking Group managing director Datuk Khairussaleh at a press conference declared a dividend of 15 sen a share.
WHERE IS THE DIVIDEND?

Div. The Div is 28c a share of which up to half (14c a share) is able to be used to buy shares in Maybank at a discounted price of 7.80 a share. Up to you if you want to buy the discounted shares and how many you want to take, or cash instead. The 14c balance + any balance from not buying shares is paid to you in cash. For clarity you take take any number of shares @ 7.80 each up to the maximum of (14c a share x the number of share you have a EX date).
Ex date is 22nd Sept (tomorrow) after which you will get your application form for shares in the mail within a week or so. If you do not get it you can access a blank one online.
The last date for applying for your discount shares is 11th Oct. If you do not apply and just do nothing you will be paid all 28c in cash and you loose your entitlement to the discounted shares. You will be paid your cash portion and be allocated any shares you have applied for on the 21st Oct and your new shares will be listed on the 22nd Oct.

According to the news published on the 27 Aug 2021 — RHB Banking Group managing director Datuk Khairussaleh at a press conference declared a dividend of 15 sen a share, equivalent to a payout ratio of 45.1% for the second quarter. The interim dividend consists of cash payout of five sen per share, and an electable portion under dividend reinvestment plan of 10 sen per share.

Why has their been no announcement to the KLSE?

Making public announcements concerning shareholders without informing the KLSE must be against the rules. Wake up KLSE!

Tenaga sadly suffering badly from having the cursed EPF cancer.

What a good idea give everyone free money, sure popular politically. Cost the MOF nothing as shareholders pay. Why not write off all the loans and give free BMWs to everyone? That way sure to be even more popular.

EPF are still selling! They are responsible for driving this share, and others into the ground. No counter can rise if its cursed with an institutional investor that keeps selling large numbers of its shares. At one time EPF buying shares was deemed good news as they were seen to be good long term investors to have on board, now more. Any any companies that have EPF as a substantial shareholder must be discounted for substantial added risk. Having EPF buying your shares is like getting cancer.

Consensus target price is 12.22. There is a lot of upside yet.

To compare:-

PB CEO salary 38.1 Million, (2nd highest paid CEO of a PLC in Malaysia)
Maybank CEO salary 9.4 Million,
CIMB CEO salary 2.41 Million
AMMB CEO salary 6.64 Million, (including a one off bonus of 3.14 Million),
Hong Leong Bank CEO salary 17.3 Million, (included a one off bonus of 10.26 million),
Alliance Banks CEO salary 9.5 million (including a one off Bonus of 1.7 Million).

I think the only Malaysian CEO of a PLC would have been Genting Group CEO who runs a multi national conglomerate.

CEO Tan Sri Dato’ Sri Tay Ah Lek Tay was the second highest-paid CEO among all listed companies in Malaysia. In 2020, Tay’s remuneration increased from RM35.6 million in 2019 to RM38.1 million

PB CEO salary is in multiples of every other Malaysian banks CEO, not just Maybank's CEO!
Looting should be criticized for what it is, or it will continue and likely get worse. Example CEO Tan Sri Dato’ Sri Tay Ah Lek salary increased by almost 3 million last year to 38.1 Million.

EPF continuous selling is holding the price down, Tenaga would be 12.00 by now if not for EPF.

If EPF would stop selling this share can fly.

if not for EPFs relentless volume selling I think PB would be close to 5.00 by now.

Dividend for Tenaga is normally announced in Sept (last year 22c) and paid in October.