Ok, u guys until now cannot figure out. Let me share secret to you on the audited query.

The actual real reason for KPMG not signing the report is most likely due to whistleblower informing them or they accidently stumbled on some information that they were not suppose to know.

The audit query alone is too weak to cause the whole audited report to be suspended. Small things like LLC and L.L.C or unit number missing or rubber stamp not nice... these are very minor problem. The real problem is actually not revealed because if Serba finds out how KPMG discovered the problem, they will destroy the evidence and change the story.

Hence, KPMG is just giving excuse and buying time while waiting time to run out on providing the audited report so that authorities like SC and Bursa will step in to compel them to reveal the info directly to the SC/Bursa investigation team. KPMG had no intention to sign the report the moment they discover the seriousness of the information from the beginning.

The audit queries are just red herring... I have seen 1 such case before back in my fresh graduate days with one of the audit firms. Small things like their queries can actually be solved in a couple days, its the other information NOT in the audit queries that we dont know about causing this serba to die...

@leno, you are wrong. Don't talk rubbish. Whether they resign or not. SC and Bursa can take action even after they leave if they did anything wrong during their tenure. In fact, Section 17A of the MACC act also allows MACC to take action against the directors AFTER they have left the company. Go read and google up Section 17A MACC act. Just because resign doesnt mean you wash your hand.

For now, the independent directors resign cause they disagree to sue KPMG. But the executive board wants to sue KPMG, causing a conflict between independent and non-independent directors. Hence their resignation. Dont simply mix here and there.

As for me, I only know I will sleep soundly this weekend and watch netflix. Good luck those still holding Serba over the weekend. Next week might end up 30 cents and suspend counter.

I already said before, there is no logic for the price to even go up above 20 cents. Now turun balik, all take profit already, many kena trapped here. Just pray have news soon, otherwise just hold until it move in the future lo.

Astro + Netflix that one small impact la. That also priced in already since the price already moved up. There's nothing of value to buy Astro, another lousy investment to buy into. Astro losing market share and only old people still subscribe to their satellite dish. Nowadays you have Disney, HBO, Hulu, and so many other streaming services. Better u go buy Time or TMnet since they provide the internet line to watch all these movies.

the rebound now is dead cat, it will hit 0.40 closing later. Today is Friday, nobody wanna hold over the weekend la. Later 5pm epf announce disposed another 50m shares, Monday you will hailat...

Ron90, which warrant u getting and when is expiry?

Well KPMG dont wanna tell their side of the story, not that I dont want to listen to their part of the story. So the only way is to wait for the court case civil suit and hear KPMG part of the story on why they diam diam and what they know that we dont know. I'm not even holding serba shares, i only day trade this at most.

it will go below 24 cents, watch and see

From the looks of it KPMG using this as reason to resign so they don't have to admit mistake. Tbh, the suit is on the way KPMG conducted the audit and it's actually fair if auditors sit down and explain their expectation to get assurance. Problem is if KPMG dont tell people what they want, how is serba going to read their minds?

For example, U tell me you are hungry, so I offer you fried rice, but you say you dont want fried rice. So I offer you wantan mee, but you say you dont want also. Now I ask you what you want to eat, you keep quiet... How am I suppose to know what you want to eat?

In this case, KPMG say address wrong, serba provide the address and clarified the letters and numbers.. then KPMG dont want to verify and check. Same as the phone number, use Truecaller.. then people show you the actual phone bill, then KPMG diam diam.. so Serba ask KPMG what do you need to get assurance? KPMG diam diam.. how is Serba suppose to read KPMG auditor's mind and know what he wants?

It feels so weird la...

If they proceed with suing KPMG, they have to provide evidence and prove it beyond doubt in the court of law. Looks like they are very confident until make press conference. KPMG's turn to hai lat already this time... I'd say it's now 65% SBD chances they are correct and 35% chance KPMG is right. Odds seems to be in SBD favour for now, but need to wait for one more party to verify. Either SC, Bursa, EY or court case, if any of these 4 parties favour one side, then I consider them as independently verified the audit query results.

The parties said the merged entity (MergeCo) will serve an estimated 19 million customers with revenue of RM12.4bil, earnings before interest, taxes, depreciation and amortisation of RM5.7bil, net profit of RM1.9bil and free cash flow of RM4bil.

https://www.thestar.com.my/business/business-news/2021/06/22/parties-agree-on-mega-telco-merger

Isn't that over double the current profit? The price should rocket up according to the earnings in that case. RM7 is within possibilities if the merger finalises next year.

EPF acquiring Digi shares non stop the past 1 week

Officially sign already:

Axiata Group Berhad (“Axiata”), Telenor Asia Pte Ltd (“Telenor”) and Digi.Com Berhad (“Digi”) (together “Parties”) announced that they have successfully concluded the due-diligence exercise and signed the Transaction Agreements for the proposed merger of Celcom Axiata Berhad (“Celcom”) and Digi (together “MergeCo”).

https://www.telenor.com/media/press-release/axiata-telenor-and-digi-sign-transaction-agreements-for-the-proposed-merger-of-celcom-and-digi

News is out today. Should rocket to the moon after lunch. Congrats those who manage to buy below RM4.30.

Confirmation on signing agreement is either this week or next week only. After this will up liao...

Dont need to listen to the noise. Like I said, ever since they appointed EY, this counter will be trading sideways until EY comes out with the result of their review.

All the noise tell you up down up down like barking only. I cant tell you up or down, but I can tell you average day movement is around 62-67 cents for the next 2 weeks because there is no news and nobody knows whether it goes up or down. But what I can tell you 100% with certainty is that EY won't come up with any report in 2 weeks time, because they just only started work.

This is day trader and contra player heaven, just park bottom and sell peak of the day. That is all I can say.

Today will pickup, I think will end around 64 cents by 4.30pm. Easy 8k in 1 day...

All the bilis and contra player without money will lose money as usual.

Now bottom for the day, can buy up a bit, then sell later on Monday when it goes up. Ez pocket money.

Only 2 more weeks to end of Q2, Axiata openly tell you good news going to sign agreement to merger liao.. after reach RM5 only people start buying hahaha

The whole point of stocks is to generate profit and dividend to shareholders according to the % and number of stocks you hold, in order to divide the profits in a fair manner.

Since you're not buying stocks because of the ability to generate dividends and profit, you're into buying news and rumours on potential and speculation. Might as well go horse racing and buy toto 4D...

Redesignation is nothing, they just make it clear that they are non-executive only.. Those are independent directors, meaning they dont have executive powers, now they just added the word "non-executive" which means the same thing... can ignore those announcements.

If u want 100% profit, u go buy up Digi now before it reach RM5. By year end it could hit RM7 if the merger successful.

If today cannot get, please dont rush, Tuesday and Wednesday will be red day cause T+2, u can buy again next week.

I dont hold this long term cause I have no idea how it will move in the long term due to uncertainty. But one thing for certain is, KPMG needs a few weeks or months to review. Hence for the next 2 weeks confirm will trade sideways and quite predictable. Everyday just park bottom, sell top, repeat everyday for 2 weeks, guarantee you make thousands already. I just sold all at 66 cents, now parking and buying again at bottom.

Told u guys this is day trade heaven. Just park at bottom 62.5cents then sell at 66-67 cents, do this twice a day also can earn RM5k a day.

All the bilis no money to hold kena T+3 force selling. Volume so low today compared to last week, means all this small bilis no cash mia.. too bad.

This is day traders heaven. The price more or less stable and will trade sideways until EY announce results next month or August. Just park a queue to buy at bottom then park another queue to sell at the top that you think can reach for the day. Let the ikan bilis in between feed your queue.. Easy pocket money cause it will be moving sideways within a predictable timeline... After EY annoucement, then I dunno la, I cannot tell u future up or down, but for now u wanna day trade, is the best time to make duit kopi.

@tolleebunsmith. cannot, it will trade sideways, whoever bought 62.5 and 63 cents just now, congrats. Later u can resell 64.5 or wait tomorrow 66-67 cent, then repeat buy at bottom again. easy day trading.

Today all sapu bilis at 62.5 and 63 cents. Tomorrow selling 66-67 cents. Rinse repeat next week ya.

EY just got appointed, they wanna work and review also take a few weeks to complete. The share will trade sideways for now, u just go repeat this everyday can make pocket money at least for the next 2 weeks.

I'll be honest with you. I'm one of those buying 200-300k shares at bottom and reselling it next morning. I dont keep long, I just do it for contra only, let it look like wanna drop, then people see 500k buy, 1.5m sell... then they panic sell, u top up a bit, top up a bit.. repeat. tomorrow opening 64-65 cents, u repeat. Every cycle make 3-4k, morning do 2 times, afternoon do 2-3 more times, u can earn 10k-12k a day. Go calculate yourself and see.

It's so obvious from the number of traders buying and the sellers. 100+ people selling 1,5m share. 5 people buying 700k shares. All the bilis kena panic kena sapu. The operator and pro traders sapu all shares, tomorrow price up 3 cents, sell, make 20k profit then repeat and rinse. So many bilis kena burn by operations.

Dont believe me, u go see the actual number of buyers queue vs sellers queue. Then compare the number of shares per person on both sides of the transaction... lol!

It will trade sideways la for the next 2 weeks. Nothing is expected and no news will be out so fast. EY needs time to review also. Meanwhile traders play while it trade sideways la

Without info, this counter too risky for me to touch. I just follow the chart, and it looks like it's time to run already..

Digi going to have bigger price movement compared to Axiata when they sign the merger. Celcom is not a listed company, they are part of Axiata group only. Hence, the merger only impacts a part of Axiata's shares only.. so the movement will be okok only. Digi on the other hand is listed, hence the merger will impact the entire company. Since both company makes about the same profit annually, basically the gross profit is about 97-99% double. If you include the reduction in Opex, I think you're looking at 6-7% dividends for every RM5 in Digi shares. Maybe someone who has also studied the annual earnings can share and correct me if I'm wrong.

@fortunefire, you mean now? EY confirm wont sign now, that i can bet 1 million ringgit with you. Why? cause they just got appointed yesterday, so they havent even started, guarantee you they wont sign anything by end of business day today.

For those wondering why Digi share went up more and held at 4.20 compared to Axiata.. If you see the announcement previously, Digi will give money to Axiata for the merger:

"Axiata will receive newly issued shares in Digi.Com representing a 33.1% post-transaction shareholding and cash equalisation amount of around RM2 billion, of which RM1.7 billion will come from Digi.Com as new debt, while the balance of RM300 million will come from Telenor."
https://www.theedgemarkets.com/article/axiata-says-advanced-discussions-telenor-celcomdigicom-merger

So I think this means, Axiata share is worth less in the merger due to their lower performance while Digi has higher profit margin. Furthermore, only Celcom (a small branch of Axiata group) is merging with Digi. Not the entire Axiata is merging with Digi. In other words, celcom will be cut out from Axiata to merge with Digi. Hence, Axiata's share price as a whole wont be impacted much.. only a small part of Axiata (which is Celcom) will be merging ma... Price for Digi will rocket since Digi is listed and the ENTIRE Digi will be merged. Celcom is not listed, so only small part of Axiata will be impacted.. so maybe that explains the price movement.

Short term is RM5, medium to long term is easily RM7. Go and read their annual report then calculate their combine profit and lower the opex. Once everybody vaccinate and we return to pre-mco, the dividend payout is going to be 6-7% if price at RM5... For sure the share price will go higher to normalize at 3-4%, that's how I conclude price is RM7+

https://www.theedgemarkets.com/article/axiata-group-seal-malaysia-ops-merger-agreement-norways-telenor-days

Good news lai le

Insider is only that 2-3 directors la... but seems like possibly KPMG made mistake liao.. they wont appoint independent verification if they really have fraud. All the past fraud companies dont go all out and spend so much to get independent directors to verify the problems... KPMG hailat lo..

This pattern is definitely accumulation. Either operator wanna goreng, or got news coming... maybe got big project or sign contract for partnership....

Company books are ok la. No liabilities and doing Battery/Solar. If Malaysia moves into EV like China and Tesla in the next couple years, they would be one of the frontrunners la.. just that at the moment no idea why pump, no news or anything also.. the pattern like shark and operator accumulating for pump soon.

My worry is that you hold over weekend, and if 5.30pm later announce BoD sell shares again... cant sleep 2 days lo.. I rather miss the boat than sink with the anchor.

The amount sold is very miniscule compared to their holdings... a couple hundred thousand per dispose by Epf... Today's volume is very small relative to the past 1 week. Tomorrow see what's the sentiment.. I also dunno what's happening.. but macam left hand go right hand only hahaha 1 side dispose 8m, the other hand bought 8m.. macam no difference also

Isn't this just switched hands only? Kadir and Karim bought about the same amount also..

accumulating for what? They going to get acquired? Sell Glove? Apa macam? If just accumulating and price boom, that's just operator playing con game as per usual la... if got good news or bursa announcement then makes sense.. otherwise it's just another money game like jjptr lol

Tbh, there is a chance of reversal. If this is a crony job kind of thing... it would go back up.

Why? Project might exist, just that they use crony company and crony name to get project, belanja kopi, the usual la.. then crony using name and get a cut, then put a lot of opex, so everybody pays less taxes. Then can get project and pay less tax, that is SOP for a lot of companies.. u know la...
that would explain the lousy shitty webpage and low paid up capital... but end of the day, let's be honest... this is how a lot of Malaysia company operate la...

Most importantly if the money exist and they can get paid, then company can pay salary, pay debt, pay dividend, etc.. How to get there is messy la..

But this is just my speculation.. I have no idea what actually happens in the back.

I think company is ok, just that it's overpriced now and operator pump for no reason. If 18 cents then ok la, can buy to keep. If 30 cents in current status, why wanna buy? No news, no dividend, nothing, all say good good good, but what is the good point? Buy to collect dust ka? Must have reason to buy 30 cents ma.. otherwise please justify and clarify here why it's worth 30 cents with 0 news..

If u buy blindly because u see volume up for no reason, it means u already got trapped... operator kasi goreng goreng and lure u all to buy, then sold and ran away. They have telegram chat group to plan and discuss all this tricks to trap greedy people... u can be "long term" investor in this company la.. but dont hope for them to pump up after they sold and ran away with profit... your only hope is pray this counter have news or some development in the coming months, else u hold until 2025 la maybe have hope in few years.

Telegram operator already dump, gone liao haha back to 18 cents..

70 bucks also u want buy ah? just write down in excel and monitor price can liao la if u want to test skill.. confirm u buy a lot cause u also wanna gamble hahaha... no way people buy 70 bucks to test skill. either direction also you lose money cause brokerage. Up also lose, Down also lose, you bought 10,000 units ah?