After reviewing the audited Annual Report (AR) and following the Reneuco saga, I can summarise as follows: 1. The auditors were unable to verify the accuracy of certain figures, primarily data related to three hydroelectric projects dating back to 2019, which were managed by the previous administration. 2. A Special Investigative Review (SIR) team was formed, which conducted an independent review and produced a report with recommendations. 3. The auditors could not verify all the figures by 8 February; hence, they were unable to complete the audit. 4. Reneuco faced a decision: either grant the auditors additional time to complete the audit, risking suspension due to the inability to release its annual report on time, or accept the auditors' inability to express an opinion and release the annual report on 8 February, which would result in being classified as a PN17 company. 5. Reneuco chose the latter option and has now been classified as a PN17 company.
Bankers/Directors sold a lot of shares ranging from 10cts to 24cts recently …..and now slowly buying back at ratio of 6 to 1., 5 to 1, 4 to 1 …like share buy back…looks like Reneuco has been cornered by Bankers/Directors
Reneuco masih boleh pantau,apapun bagi tercari kaunter untuk masuk ada beberapa yg saya cadangkan harga patut masuk utk senang profit spt Asdion 8n85 sen,vsolar 14n14.5 sen,gocean 14n14.5 sen,mmag 10 sen dan waran 3.5 sen,at 18n18.5 sen,mersec 38n39 sen,artronic 27n28 sen,sridge 28n29 sen,oneglove waran 9n10 sen,wegman waran 2n2.5 sen,bjcorp waran 4n4.5 sen,..
You are extremely lucky to have managed to buy at 3.5 cents within that very short period. I queued at 4 cents, but it did not catch. I waited for it to return 4 cents, but it never looked back.
Posted by future > 34 minutes ago | Report Abuse
After buying low at 3.5, obviously time to take profit, today T+2. Waiting red.
@SSteady 23 mil shares was done that day; many are lucky ones, except those who was lauding to sell at that time felt frustrated for not buying. Anyway I wish good luck, to all,probably still has room for improvement
Run la why make yourself suffering in the uncertain stock??? The future already seen blurred and towards the peat of 🔥🔥 haiyaaaa…susah mahu cakap 🤣🤣🤣🩸🩸🩸
Likely All fake transactions. Genuine transactions, tutup dua mata can verify easily.
Posted by JJPTR > 22 minutes ago | Report Abuse
The auditor suspicion mainly revolved around the veracity of the group’s trade receivables, trade payables, revenue and costs of sales. Same like Serbak case last time. Like father like son.
for Serba case, when you check the satellite map, it shows virgin empty mud land, but Serba audited accounts can actually report some construction work done 😜. for days and months after I did the satellite map check, you can still see many i3 forumers singing how good and genuine Serba was. Any slightly off remarks on Serba and all these abused wives of Serba will threaten you with bodily harm.
Reneuco Bhd, whose latest annual report saw a disclaimer of opinion by its external auditor, said its special independent review (SIR) found that the sales transactions and costs with identified customers and suppliers “were sufficiently supported” by relevant documentation. The SIR, conducted by Messrs UHY FLVS Sdn Bhd, also “received confirmation from the respective parties” for the sales transactions and cost of sales transactions. The SIR was conducted upon the request of its external auditor Messrs Al Jafree Salihin Kuzaimi PLT, which flagged trade receivables balances of RM321.26 million from July 1, 2019 to June 30, 2023. Al Jafree Salihin Kuzaimi PLT also flagged RM196.31 million in trade payables balances. The two items were included in the communicated scope of the SIR.
JUST SELL & CHANGE TO INSAS MAH! Investors of Insas hathaway can afford to only invest in 1 stock that is insas loh!
Why should they look elsewhere when all the insas fundamental numbers are so positive compelling base on share price of rm 1,21 leh ?
The Insas figures are as follows; 1. Insas net cash is rm 1.26 per share 2. insas net cash equivalent per share Rm 1.40 3. Insas nta per share is Rm 3.56 4. Insas RNAV per share after taken account of Inari & M&A is Rm 7.00 per share 5. Insas RNAV per share after taken account of its properties value Rm 9.00 per share. 6. Insas eps Rm 0.19 share. 7. Insas cash generation per share Rm 0.22 8. Insas div per share Rm 0.025 9. Insas Nta growth per share (base buffet measurement of growth} Rm 0.22 pa.
a.Notice that insas net cash equivalent of rm 1.40 exceed share price, that means u can buy whole insas & still collect additional Rm 0.19 cash per share on top of whole company. b. Based on NTA without any revaluation insas is worth Rm 3.56 per share. c. If u factor in Inari & M&A hidden reserve plus insas NTA , u will get Rm 7.00 per share. d. If u factor in { item c } plus other assets & revise property undervalue u get Rm 9.00 a share 5. Insas PE is 6.4x. 6. Insas cash generation per share is rm 0.22 giving u a yield of 18% pa. 7. Insas div yield is rm 0.025 per share or 2.1% pa. 8. Insas growth rate pa is 18%. Note this very powerful factor as insas cash generation is 18% pa and growth rate is 18% pa, that means all insas growth is back up by cash generation equivalent, this is a very powerful factor to the sustainability of cash flow and growth rate.
Conclusion: Having gone thru the financial strength of insas, can u find any other stocks more powerful than insas fundamentally at the current share price leh ? The answer is none loh!
Thus with insas so attractive fundamentally why should u sell insas & look to buy other stocks leh ? U should be buying more insas right now bcos of very big margin of safety loh!
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....
mansaham1972
1,197 posts
Posted by mansaham1972 > 2024-02-09 09:22 | Report Abuse
Tq reneuco atas sumbangan,hari ni masih memantau utk masuk harga patut