OK MingGoon, in the end, the market decides!

@MingGoon. But those auditors seems to have missed out the overpayment in 2017. If their audit was so good, they would have detected the overpayment and qualified the accounts. That would have alerted investors.

This failure is an indication of how good was the audit done in 2017.

But I don't see Dayang being pumped.

Another bullish marubozu close. Double marubozu close since yesterday.

I thought Miss Universe is now luxuriating in Las Vegas. No?

UZMA calling for Mr Universe and Mr Keranda to pump it up.

Yeah, the dog-handler already pulled the chain. Hahaha!

HuatRex, I don't mind them "shiok sendiri". It's their right. I am trying to give right info. That's all.

Bullish marubozu formed today.

Tadmax's 1.2 gigawatt project on Pulau Indah is confirmed as necessary by the Minister in charge, Yeo Bee Yin, and will not be cancelled.

Ravi Kumar, please read my post on what is "wrong" with booking "overpayments" as costs i.e. tax-deductible costs of doing business.

OTB,sorry. No offence meant. It's just my rebuttal to David Gunter. Hope he is not in for a gunting.

In the meantime, one of my 2 evaluations points to downtrend in price since two days ago. The second is still neutral.

If the second confirms first, slump in price is virtually certain.

How deep and fast the slump will be will depend on the coming qtrly results.

Yeah, David Gunter is another "smarter then thou art". We shall see whether he is just another smart adik when the qtrly report is out.

Of course I suspect what levels those cons bought before they ask others to buy. One of them openly broadcast the price at which he bought while asking people to buy some more.

It's is an open bet whether he still hold those shares or have cashed out already.

@HuatRex. Don't worry about Ravi Kumar's boasting. There are always bellwethers used to lead fattened sheep into the abbatoir. I have seen them in action at sales 'promotions'.

Come the next qtr report, it will be either the elevator or the guillotine for those fattened sheep now trapped.

If it is the guillotine, then Ravi Kumar will be proven to be a bellwether!

The previous 2 qtrs are the low seasons. The coming quarters beginning with the coming qtr report will reflect the high production season, further uplifted by customer A's demands.

In fact the previous 2 qtrs showed decreasing losses - qtr 4 loss was much lower than qtr 3.

This is expected and corroborated Aminvest's report of growing profitability.

But Salute's factories at peak production at the time of report. "Substantial" hike in profit? Maybe not. But there will very likely be a turn-around in profit i.e. much better profit than the losses in the previous two quarters.

My caveats still stand. Witching hour is when next quarterly results are out. Then it's the guillotine or the elevator!

But not all my commentaries.

robert88888. The market seems to have ignore. So I delete.

robert88888. Never too late to join!

Henry8833. Tax evasion is a criminal offence. LHDN may take this stance. But all these leads to more "uncertainties" = risks.

For the general interest of investors, I shall summarise the implications of the overpayment booked as expense in 2017.

1) There will be reduction of RM64.15 million in tax-deductible expense in 2017;

2) This means that taxable profits in 2017 was understated by RM64.15 million;

3) It follows that tax liability for 2017 was also understated;

4) Conclusion: There will need to be an increase in the provision for tax liability in 2019. The corporate tax rate is 24% of taxable profits.

I have my own methods of analysing reversals which is faster than just using moving averages. Today it's reached neutral from positive with a downside. Tomorrow will likely confirm reversal one way or the other.

Likely answer: Carimin did not 'overpay'?

It's the management stupid. An overpayment was shown as cost-overrun. It's overpayment, but the overpayment was carried in the books as cost overrun resulting in hiding the overpayment for 2 years. What else are being hidden? And who 'benefited' from the overpayment besides Khan and Kong?

Besides, there would be an adjustment in the books to reclassify the "cost overrun" as erroneous overpayment - which of course is not tax deductable.

Was LHDN diddled for 2 years?

The market seems still wary. Probably because there is still a sticking point: It was overpayment in 2017 when project completed but management indicated that it was a cost-overrun.

There is a big difference between "cost overrun" and overpayment. Overpayment have huge negative implications besides just substandard management.

The overpayment was RM63.14 million - huge compared to the size of the company. The management either knew about it in 2017 (i.e. that it was an overpayment) or only discovered that it was an overpayment two years later in 2019.

Both scenarios have very negative implications. Likely that's why the market appears still wary of UZMA.

And it will take a long time to win or lose the case.

I expected "one night stand" hng33 to sell. Surprised that he did not sell at 68.5 sens.

Increased sales from trade war is at best a "bird of passage"; at worst BS. The top line remains a concern. Market likely still evaluating.

Today's likely dead cat bounce?

Market still nervous about the top line (sales)?

Settling towards 65 sens?

@micsoh. Yesterday was fake news. The shorties went against the chart, but not for long.

@micsoh. They must have built in AI into your charts. No?

Shorties still have sharp teeth.

Huge block at 44-45.

Market still cautious. Which is good.

@stockraider. Who is IDSS?

Shorties still have some teeth.

Resistance/support at 43.5 to 44. That's likely why hng33 sold off at 43.5.

It was just a syndicated raid on Armada stock based n fake news. Bursa regulators should have noted and the huge sell down and contact Armada for clarification on the unusual market activity. A quick clarification from Armada would have stopped the sell-down.

But I guess the Bursa regulators were sleeping on the job as usual.

If no really bad news, then today's sell-down is syndicated short-selling.

KSL's directors' shenanigans at the expense of the minorities won't benefit them. In the end they will cough up every sen (and more) that they have caused the minority shareholders to lose by misleading data and in not keeping their promises.

Cool man cool. Trade by the charts and not by anybody's farts, including the so-called sifus. "Man can lie but charts don't lie" - OTB's million ringgit advice!

Dayang rise is due to upgrade on solid restructuring. Not due to pump-dump by Mr Keranda and Mr Universe.

The Saudi suffered a major defeat y the Houthis. This should cause panic in the oil markets.

https://www.scmp.com/news/world/middle-east/article/3030871/yemens-houthi-rebels-claim-have-killed-or-wounded-500-saudi

What is "MO"?

Lai Amy, which chart are you using. Appreciate if you could give me the link. TQ.

China's Sun Tzu tactics!

As expected, Trump is walking back on his rhetoric.