Placing deposit with potential clients???? What kind of management is this? As a shareholder I demand an explanation for this.. I have seen this kind of scenario before.. ARBB was one where many analysts were talking big about it.. Going into IOT etc.. and growth potential etc. But the operators diluted the shares and made their money and !ARBB is down to 3.5sens. As long as some characters are inside.. I doubt if I will recover m _______ ARBB got solid fundamental or solid net cash ??? Y some people just like compare gtronic with other rubbish stock !
Gathered from the implications surrounding the company, there are more " wrongs" than " rights". The Company must address the issues of concerns not just to sweep the issues under the carpet as if nothing was happening...
Do not fool the investors as they are not stuxid...
Judging the way in which the alleged missing cash of 60m has been handled so unprofessionally ,it could be inferred that the so call "solid net cash" ie 144m is expected to be vanished out of thin air faster than you and me could imagine.
Misappropriation is a criminal offense. No director of a PLC will take the risk of going to jail and have a criminal record . All PLC have their own risks control. We are talking 40 million. The whole Management { CEO, CFO and BOD } can go to jail by any illegal or unauthorized withdrawal of funds. And the banks will not authorized the withdrawal without all the designated signed signatories. Chairman or Director , CFO and CEo
Any transfer of funds have their money trails. As a paid employee of a company. The Company secretary, Accountant or CEO. You would not authorised such a sum without any proper documentations. This is not a pasar malam hawker business
Buy , hold and wait for the 3 Qtr Sept announcement next month. GT punters will push higher if result is more favourable vs market expectations. The past 10 years result showed GT has always profitable. The end result is how much is the dividend ratio and quantum the new management will paid out. October is just around the corner
SC 2023. Liaw is a tech & app solution guy started his career in Cuscapi as a solution provider in 2006. Hold a degree in computer science. Ms Heng is the newly appointed CEO of the comoany Mr Ku is their CFO extracted from the annual report
Mr Ku is their CFO who is said to be a Chartered Accountant . He should have known better the negative implications and repercussion of the voluntary resignation of the incumbent Auditors, KPMG and change of auditors half way before the expiry of the terms of office of the incumbent auditors.
As a CFO, I wonder why he allowed this kind of abnormality to happen to jeopardise the interest of investors . Has he got something to hide or hidden agenda?
Without prejudice or disrespect to any parties. Mr Ku is also sitting on the board of Gtronics as director and CFO of the group. Mr Ku is the Principal of the public accounting audit firm `Grant Thornton Malaysia PLT '. Mr Ku also sits on the Board of MIA { Malaysian Institute of Accountants} which is responsible for the registration., licensing and renewal of accountants practising in the country. The above info is all extracted from Mr Ku public profile
Mr. Ku Chong Hong began his career in auditing with several audit firms before joining Grant Thornton Malaysia as an Audit Senior Manager in 2017. Throughout his career as an auditor for more than nine years, he gained vast exposure in audit and assurance and business advisoryrelated fields through his portfolios of various local and international companies involved in a broad spectrum of industries such as property development, construction, manufacturing, trading, poultry, agriculture, aquaculture, service provider, trading of software and real estate.
Directorship of Listed Issuers and Public Companies: • APB Resources Berhad • Artroniq Berhad • Sarawak Consolidated Industries Berhad.
It seems that wherever he is attached to , disasters are bound to strike as evident time and time again...
Mr Ku is their CFO ,a chartered accountant . He should have known better the negative implications and repercussion of the voluntary resignation of the incumbent Auditors, KPMG and change of auditors half way before the expiry of the terms of office of the incumbent auditors.
As a CFO, I wonder why he allowed this kind of abnormality to happen to jeopardise the interest of investors
It is suspected that the reclassified deposit from the alleged missing cash was designated to other accounts where the cash is used to support the shares of other related companies
According to the 2023 annual report, Mr. Ku is the executive director and Mr. Ng is the CFO. Don't simply spread false info la. This joyvest is crying until the water got into his brain
Mr Ku is their CFO ,a chartered accountant . He should have known better the negative implications and repercussion of the voluntary resignation of the incumbent Auditors, KPMG and change of auditors half way before the expiry of the terms of office of the incumbent auditors.
As a CFO, I wonder why he allowed this kind of abnormality to happen to jeopardise the interest of investors
The share values of the following companies have been collectively depreciated to great extent. Do you really believe that it is by coincidence or otherwise? I leave it to your imagination.
Whether he is ED or CFO ,it doesn't matter but one thing for sure is that he is a chartered accountant.
As a CA ,he should have known better the negative implications and repercussion of the voluntary resignation of the incumbent Auditors, KPMG and change of auditors half way before the expiry of the terms of office of the incumbent auditors.
Since he is ED now ,he is in the best position to lead the Co to next height in the best interest of the shareholders. However,judging from the circumstances surrounding the co,he appears to be acting on the contrary
Invest and buy GT at 60 or 62 sen. We know the risk. We are not buying GT at 1.20. just wait for the result and see it's a lemon or a juicy papaya. Ha...Ha don't like GT should dispose it much earlier
Too bad... From their recent representation, they have insinuated that their dividend policy will be adjusted due to pathetic sales under the incompetent mgt meaning to say that they are not going to pay handsome dividend as before. It is certainly to be disappointing in months to come....
Globetronics executive chairman Liaw Way Gian said " KPMG's resignation, dated Sept 4, will take effect 21 days after the notice. It was reappointed during Globetronics' last annual general meeting (AGM) on May 8 and was supposed to hold office until the conclusion of the company's next AGM."
KPMG was re-appointed in the last AGM to take office till the next upcoming AGM.( Their legal tenure of terms of office ). What triggered the incumbent auditors, KPMG to resign before expiry of their terms of office ? EC did not elaborate at all ?? Are the circumstances leading to their resignation so "fishy" that it is difficult to explain ?? very fishy indeed.
Globetronics executive chairman Liaw Way Gian said " these deposits which are held in stakeholders' accounts and managed by the company's legal advisors, are essential for securing new orders and forging strategic partnerships."
It is believed the deposits here are referred to the alleged missing cash of 60m. Which legal advisors? Why pays the customers to secure new orders? It should have been another way round where the customers pay deposit to secure supply . Is the Company so cheap to beg them to buy by placing deposits with them ? The Management has not really addressed seriously on this issue but merely says the business is as usual
The more Globetronics executive chairman Liaw Way Gian talks , the more it doesnt make sense. He doesnt get to the point. The market is not stuxid and convinced.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Why_
794 posts
Posted by Why_ > 1 month ago | Report Abuse
You haven't answered my question is APB share plunge good for their shareholders.