Posted by stampid54 > 2022-07-18 12:47 | Report Abuse

petronasgloves, mr market is tired of all the bullshit, mr market wanna call it a day !

Posted by EastWestTalker > 2022-07-18 13:10 | Report Abuse

You go ask Mr Fengshui and get you a 93 sen? Be realistic pls lol

Posted by EastWestTalker > 2022-07-18 13:12 | Report Abuse

Now already quite a number of penny stock shoots up, we all know it’s risky, same as any stocks out there, get it quick, get it big

Posted by bosskufanboy > 2022-07-19 11:56 | Report Abuse

Ages already breakout last week, waiting for ARBB turn

Posted by 532TKY > 2022-07-19 14:12 | Report Abuse

after lunch time see how first , they dont plan to make the price up yet so soon in fact now they setting up a barricade

Posted by bosskufanboy > 2022-07-19 17:43 | Report Abuse

no sign of the so call big group that you mentioned

Posted by bosskufanboy > 2022-07-19 18:19 | Report Abuse

all went to AGES already

Posted by petronasgloves > 2022-07-20 10:17 | Report Abuse

Bad sentiment market. people usually focus on flying share or IPO only...

Posted by 532TKY > 2022-07-20 12:00 | Report Abuse

according to my indicator, got a 100 continuous buy in action in arbb, operator in action ?

Posted by bosskufanboy > 2022-07-20 12:16 | Report Abuse

you're probably right, all lining up now

Posted by 532TKY > 2022-07-20 12:58 | Report Abuse

so far i think they are trying to stabilize the price only, maintaining 0.105 - 0.11

Posted by 532TKY > 2022-07-20 12:59 | Report Abuse

knowing the boss, they wont let it stay low for much longer :)

Posted by bosskufanboy > 2022-07-20 16:11 | Report Abuse

or maybe just operator doing their job

Posted by petronasgloves > 2022-07-21 10:08 | Report Abuse

Market any time rebound ?

Posted by Surge > 2022-07-21 11:33 | Report Abuse

I hope can limit up

Posted by bosskufanboy > 2022-07-21 15:20 | Report Abuse

Limit up after ages settle down

Posted by EastWestTalker > 2022-07-21 19:03 | Report Abuse

Rebounding soon

Posted by EastWestTalker > 2022-07-21 19:03 | Report Abuse

Let it be another Ageson hahaha

Posted by bosskufanboy > 2022-07-22 10:38 | Report Abuse

Let me buy in more first before becoming another Ages..

Posted by stampid54 > 2022-07-22 10:38 | Report Abuse

I prefer arbb stay with own position instead of short term goreng. Sustainability is more important

Posted by bosskufanboy > 2022-07-22 10:52 | Report Abuse

Hehehe, Malaysia market where got sustainability de

Posted by EastWestTalker > 2022-07-22 12:42 | Report Abuse

Arbb still too low to even consider about sustainability lahh tbh

Posted by EastWestTalker > 2022-07-22 12:43 | Report Abuse

But anyway, volumize up movement is always welcome

Posted by MarcusBioTech > 2022-07-23 18:04 | Report Abuse

As investors, we want ARBB/PA to appreciate in value to reflect its strong business growth we seen in past 14 SUCCESSIVE QUARTERS since 2019.

I wrote to Bursa Malaysia to inquire below and was pleased that they are monitoring this company for full compliance. ARBB raised >RM74million in rights issue and BURSA Regulator is monitoring the progress of the business.

Please see below.

Posted by MarcusBioTech > 2022-07-23 18:06 | Report Abuse

My Inquiry to BURSA Regulator:

On 17/Feb/2022, ARBB had a Rights Issue and fully subscribe at 608.2 million shares at RM0.12 per share giving a total new capital injection of an RM72.99million. There is no progress report on the implementation of its hydroponics business in the recent quarterly report. We hope that BURSA as regulator requires ARBB management to demonstrate transparency and accountability on the progress.


BURSA Regulator replied me below:
The status of utilisation of proceeds from Rights Issue of approximately RM72.99 million has been disclosed in a note, B5 (b) of the announcement of the quarterly results for the financial period ended 31 March 2022 which has been announced on 18 May 2022.

The status of the utilisation of proceeds thereof will be disclosed in the Company’s subsequent quarterly financial results announcements.

Thank you and have a good day.


Bursa 2U
Bursa Malaysia Berhad
Our Ref: CAS-26691-N3J6T2
CAS-26692-B6T1H6 

Posted by MarcusBioTech > 2022-07-23 18:15 | Report Abuse

If you want to see the company’s uncensored financial performance please visit

Source: https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3259759

Posted by MarcusBioTech > 2022-07-23 18:16 | Report Abuse

if you want to lodge complaints to BURSA Regulator on any listed Bursa Companies, please register at link below:

https://bursa2u.bursamalaysia.com

Posted by MarcusBioTech > 2022-07-23 18:18 | Report Abuse

The reply demonstrates that BURSA Regulator is very well aware that ARBB is a legitimate company.

ARBB has EXCELLENT track record with strong competitive advantages in Software industry. Also, the firm experienced explosive growth from loss making in 2018 to now generating RM91,083,000 net Profits on revenue of RM446,440,000 in the past 15 months ending 31/Mac/2022.

Extremely undervalued company with a Market Capitalisation of about RM146,000,000

Disclosure: I am long on ARBB and ARBB PA.

Caveat: This is not recommendation to invest as you are encouraged to do your research before deciding.

Posted by MarcusBioTech > 2022-07-23 18:22 | Report Abuse

Fun Fact

I wrote in to Bursa Regulator on 1/July 2022

Received BURSA’s reply on 22/July/2022.

So, (potential) Investors, BURSA Regulators with >4000 employees are doing their work to safeguard our interests.

Relatively safer to invest in public listed companies compared to Private limited.

See my earlier posts if ARBB is similar to SERBA DINAMIK.

You will enjoy 7 Corporate Governance factors that increases your confidence in ARBB.

Note: Caveat Emptor.

Posted by MarcusBioTech > 2022-07-23 18:34 | Report Abuse

Typo error above

ARBB Rights Issue was >Rm72million.

Posted by PSAi3alert > 2022-07-24 13:12 | Report Abuse

ARBB's 2020 annual report shows buzzwords such as Cloud CoSec, Pacio Accounting, Point of Sales,production, inventory management, business intelligence, human resources, Internet of Things (IOT) - (warehouse management, smart building, smart home, smart water management), purchasing, customer relationship management, sales & marketing, big data analytics, etc.

But revenue is only from 2 segments - ERP and IOT

Revenue of RM219.454M was reported for the year 2020 and 93% of the sales was from 4 customers. The 4 customers were not named but the average sales per customer will be RM51M

Salaries and wages was only RM2.308M or 1.05% of sales

31st March 2022 trade receivables is RM197.104M

Domain name was created in 2019 and is hosted with free hosting provider - Wix.com


--->>> Average sales of RM51M per customer is a lot of money for ERP or IOT. Surely there will be press releases on the purchase and what exactly was purchased.

--->>> 1.05% salaries cost as a percent of sales is a unicorn. It's just impossible

--->>> Trade receivables as at 31st March 2022 is RM197.104M

--->>> Frequent changes in auditors is a big red-flag

--->>> For a company that claims to have hundreds of millions of sales, why is their own domain hosted for free with Wix.com?

--->>> Software companies have frequent patches and updates in their site. ARBB does not have any such links for patches and updates.

--->>> Whoever buys this supposedly IOT company is an ID IOT


-------

FYE 2020
Sales of goods: RM8.487M
Rendering of information technology services: RM210.967M
Total revenue: RM219.454M

ERP Segment sales: RM150.541M
IOT Segment Sales: RM68.913M

Salaries, wages and allowances: RM2.308M

Page 118
Major customers
There are four (4) (2019: four (4)) major customers contributing to 93% (2019: 98%) of the Group’s revenue.

-------

Name: ARBBERHAD.COM

Nameservers:
NS4.WIXDNS.NET
NS5.WIXDNS.NET

Dates
Registry Expiration: 2023-03-11 08:41:10 UTC
Updated: 2022-03-14 02:09:03 UTC
Created: 2019-03-11 08:41:10 UTC

-------

31 March 2021
BDO PLT resigned as auditors
The company could not reach a consensus on the proposed increase of the audit fees covering the financial statements for the 18 months ending 30 June 2022 of the Company and some of its subsidiaries.
1 April 2021
SBY Partners PLT appointed as auditors

15 September 2021
Deloitte PLT resigned as Auditors
17 September 2021
BDO PLT appointed as auditors

-------

Sources:

Q1 2022 Financial results
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=218449&name=EA_FR_ATTACHMENTS

2020 Annual report
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=206611&name=EA_DS_ATTACHMENTS

Change of auditors
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3247943
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3193298

.

Posted by MarcusBioTech > 2022-07-24 15:57 | Report Abuse

Messrs PSAi3alert has good factual research followed by personal interpretations. That is applying Business mind to figure out if ARBB is valuable company or otherwise.

The concerns are what accounts for high revenues and high dependence on 4 clients.

This is not unusual as there are many industries which have few major customers such as:
Malakoff depends on Tenaga as only customer
Gas Malaysia depends on Petronas as major supplier for gas
Telekom broadband revenues are dependent on sales to mobile network like Celcom, Digi, Umobile.

What I must be concern is how sustainable ARBB on just 4 clients in 2020 accounting for 93% of its revenues? We need not look further but obtain the WORLD’S BEST AUDITING STANDARDS that all Audit firm use.

See the 2020 Audit Report, page 134

Recoverability of trade receivables and deposits
Refer to Note 5(f) Significant Accounting Estimates and Judgements, Note 13 – Trade Receivables and Note 14 – Other Receivables, Deposits and Prepayments.
The key audit matter
The Group has significant trade receivables and deposits as at 31 December 2020. The management made significant judgement over assumptions about risk of default and expected loss rate.
How the matter was addressed in our audit
We performed the following audit procedures, among others:
• Developed understanding of the design and implementation of controls associated with the monitoring of outstanding receivables and deposits impairment calculation.
• Developed understanding of significant credit exposures which were significantly overdue or deemed to be in default through analysis of ageing reports.
• Obtained confirmation of balances from selected debtors and suppliers.
• Checked subsequent receipts, customers/suppliers correspondence, and consider level of activity
with customers/suppliers and management’s explanation on recoverability with significantly past due
balances.
• Assessed the reasonableness and calculation of expected credit losses as at end of the reporting
period.

AUDITOR’s FINDINGS:
We have determined that there is “NO KEY AUDIT MATTER" in the audit of the separate financial statements of the Company to communicate in our auditors’ report.

MEANING
External auditor has raised concern that the receivables are possibly not recoverable and they embarked on Obtaining Sufficient Appropriate Audit Evidences to find out more. They opined that the revenues and receivables are fairly stated.

Thank Mesrrs PSAi3alert for giving us another perspective. With External auditors accessing all and I mean ALL ARBB’s internal information and files, they have provided us relative assurance that 2020 financial performance report card is reliable.

Disclosure: I am part owner of ARBB business via ordinary shares and PA (aka warrants)

NOte: The above is for education purpose and I am not paid by any party to provide above opinion.

Source:
ARBB Annual Report 2020, RSM Audit Report , page 134, https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=206611&name=EA_DS_ATTACHMENTS

Posted by MarcusBioTech > 2022-07-24 16:29 | Report Abuse

Messrs PSAi3alert concern on ARBB changing External Auditors 3 times over period of 3 years as red flag alert.

I beg to differ as this is BETTER for ARBB Shareholders. Why? 4 reasons.

1] Best audit practice is to CHANGE Audit Partners within 7 years. ARBB changed Audit FIRM every year which is better as it reduces Familiarity threat of too cosy friendly relationship between Audit Partners and ARBB Management.

Audit firms work for ARBB’s shareholders and not management. That is why their appointment must be approve at EGM/AGM.

2] changing auditors doesn’t absolve the previous auditors’ duty from reporting irregularities (if any) to shareholders otherwise they face significant fines which can bankrupt them or revoking audit license.

Case: Infamous 1MDB, we saw KPMG agreed to pay RM334 MILLION (US$80 million) to Ministry of Finance for not discharging their professional duties to 1MDB shareholders aka Malaysian taxpayers from 2010 to 2012.

Think about it, the audit firm stands to incur major losses or even bankruptcies if they don’t exercise their professional due care. So why would the three Audit firms collude to defraud with ARBB management if they stand to lose so much?

3]ARBB Non-Executive Directors (NEDS who are not involve in day to day management but are paid a MODEST fee to review ARBB’s audit and control matters) have in their interests to exercise due care to recommend new Auditors .

Would NEDs collude with ARBB management for a couple thousands ringgit and face reputation disaster as other firms or businesses will distance themselves.

4] To have 3 independent Audit Firms to look into ARBB is even BETTER as there are fresh pairs of eyes or perspectives.

Admittedly, I cannot guarantee that firm financial position is 100% guaranteed accurate as we seen Serba Dinamik case. But think of it, that is ONE black sheep amongst almost 2300 Listed members in BURSA. meaning 99.96% of BURSA firms financial reports are relatively reliable is highly comforting to shareholders.

Such high assurance is safer than we driving on our deadly Malaysian roads, don’t you think?

Disclosure: I am part owner of ARBB business via ordinary shares and PA (aka warrants)

NOte: The above is for education purpose and I am not paid by any party to provide above opinion.

My background: I was Senior Audit Lecturer in Chartered Accountancy known as ACCA Course for > 20 years, before. Now I am Brand Director with world leading Biotech platform listed in American’s NYSE which has >40 years research using >100 PhD scientists that provide PATENTED Nutri-ceutical solutions for diabetes , hypertension, cardiovascular disease, cancers and other chronic diseases.

Source: https://www.theedgemarkets.com/article/kpmg-pay-rm333-mil-malaysian-govt-1mdb-settlement-mof

Posted by MarcusBioTech > 2022-07-24 16:48 | Report Abuse

PSAi3alert has good heart to empower the general investing public, I really respect that. Posted >880 comments here. You are much more powerful and believable to your fans when you also investigate or probe using BURSA REGULATOR

Encourage PSAi3alert to write in to BURSA ALERT Regulator like I did last July 1st, 2022 (see my earlier posts). That way, more scrutiny on ARBB managerial performance , thus encouraging them to deliver fantastic business growth and be well paid for that.

Please visit below to communicate with BURSA REGULATOR, it is quite a good experience.

https://bursa2u.bursamalaysia.com

Disclosure: I am part owner of ARBB business via ordinary shares and PA (aka warrants), thus, I am biased in favour of ARBB wonderful management.

Note: The above is for education purpose and I am not paid by any party to provide above opinion.

My background: I was Senior Audit Lecturer in Chartered Accountancy known as ACCA Course for > 20 years, before. Now I am Brand Director with world leading Biotech platform listed in American’s NYSE which has >40 years research using >100 PhD scientists that provide PATENTED Nutri-ceutical solutions for diabetes , hypertension, cardiovascular disease, cancers and other chronic diseases.

Posted by PSAi3alert > 2022-07-24 18:24 | Report Abuse

MarcusBioTech,

The relationship between Malakoff and Tenaga; Gas Malaysia and Petronas; and Telekom Malaysia with the celcos are not comparable. The customer names and products/services are known and well defined.

In ARBB's case, the names of the 4 customers have not been made known.

ARBB does not have any filed patent or intellectual property in the ERP or IOT space.

There is not a single software company in the world that has a 1% salaries as a percentage of revenue ratio. Not in the Milky Way galaxy. Not in the entire Universe.

p.s. Complaints on financial irregularities should be filed to the Securities Commission, not Bursa.

p.p.s The response that you allegedly receive from Bursa is not how they ought to respond.

Disclosure: I am of the opinion that the business, customers, revenue and financials of ARBB are all fictitious .

.

Posted by MarcusBioTech > 2022-07-24 20:26 | Report Abuse

PSAi3alert, Hi

1] Auditors based on Audit Report has performed ADDITIONAL Audit Procedures to have sufficient evidences in high risk area such as receivables. They have no KEY AUDIT MATTERS to highlight if there are any irregularities or misstatements.

2] I am delighted to hear your opinions substantiated by evidences.

Reposted your stand as: ====>PSAi3alert Disclosure: I am of the opinion that the business, customers, revenue and financials of ARBB are all fictitious .

If you are analysing to see if the Financial Numbers are logical or otherwise, this is educated guess. It is insufficient evidence to be admissible in court.

3] Of course each investor has different risk appetite and one may feel the investment in ARBB is too much to accept despite the fact that it has net cash position, proven growth since 2019 and bright investment outcomes from new businesses such as hydroponics project.

4] Security Commission is working with Bursa in which the latter is entrusted with regulatory work. Thus one can submit to either parties.

Source: https://www.sc.com.my/resources/media/media-release/sc-and-bursa-malaysia-announce-the-setting-up-of-a-regulatory-subsidiary

Posted by stockpick2me > 2022-07-25 12:47 | Report Abuse

market still controllable, collect more cheap tech stock at this period.

Posted by bosskufanboy > 2022-07-25 14:06 | Report Abuse

lots of insight on arbb today... waiting for more insight from PSAi3alert now ..

Posted by EastWestTalker > 2022-07-25 14:45 | Report Abuse

Good insight , thanks PSAi

Posted by gkent2000 > 2022-07-25 15:31 | Report Abuse

When share price not flying. Everyone file complaint. When share price fly. Everyone having different story again. Market is a cycle. Just chilled and wait for good timing.

Posted by gkent2000 > 2022-07-25 15:32 | Report Abuse

Still confident with the stock

Posted by bosskufanboy > 2022-07-25 15:37 | Report Abuse

I guess bull cycle is coming for arbb?

Posted by telurgoreng > 2022-07-25 16:26 | Report Abuse

ARBB profit up, not surprised if counter also pick up soon.

Posted by bosskufanboy > 2022-07-25 16:53 | Report Abuse

next counter to fly after AGES

Posted by EastWestTalker > 2022-07-25 17:25 | Report Abuse

Price up, hater Puseyy up,

Normal lahh these trash all empty can

Posted by cicakman > 2022-07-25 17:56 | Report Abuse

Why arrr...makes big profit but can't even give half cts dividen as appreciations in investments.

Posted by MarcusBioTech > 2022-07-26 12:21 | Report Abuse

For CEO Larry Liew to accept a press release via NST demonstrates commitment to transparency.

I recall, Transmile Berhad (now defunct) has to refund the purchase price in full to Kuok Empire when there were alleged fraudulent overstatement in revenues. Why Kuok Empire could get a full refund when the share prices plummeted over 98%? Educated guess is the written agreement stipulates so.

Reasons for non disclosure of 4 clients with ARBB accounting for 93% of its revenues could be due to :
1] Clients request anonymity as per written agreement. My guess is the clients are Chinese firms operating in Malaysia as Larry has strong ties with China while working there.
2] Competitive advantage in not revealing the names which benefits rivals
3] Timing difference, in which, ARBB applies for patents and locks in clients before advertising it has strong client base.

Well, your guess is as good as mine.

I agree with Messrs PSAi3alert telling who are the clients will keep investors informed but really, is that necessary? There will be no end to request information. We leave the management to do their job while watch how authorities like Bursa + External audit firm + News releases to act as Check and balance.

Case in point, NST reported that Larry Liew slated to put IOT division for NASDAQ listing. IOT is experiencing impressive growth which augurs well when listing.

Thusfar, Larry Liew has delivered on his promises barring unforeseen circumstances.

Watch not what he says, but , what he does (Jim Rickards, 2018). The Financial report card will tell us.

Disclosure: I am part owner of ARBB business via ordinary shares and PA (aka warrants), thus, I am biased in favour of ARBB wonderful management.

Note: I am not paid by any party to provide above opinion.

My background: I was Senior Audit Lecturer in Chartered Accountancy known as ACCA Course for > 20 years, before. Now I am Brand Director with world leading Biotech platform listed in American’s NYSE which has >40 years research using >100 PhD scientists that provide PATENTED Nutri-ceutical solutions for diabetes , hypertension, cardiovascular disease, cancers and other chronic diseases.

Source: https://www.nst.com.my/business/2022/05/797693/arb-aims-maintain-earnings-growth-erp-iot-business-segments

Posted by bosskufanboy > 2022-07-26 14:29 | Report Abuse

like marcus said, let the authorities do their job, and we do our part...

Posted by EastWestTalker > 2022-07-26 15:27 | Report Abuse

The bull is raising its head, only but if u trust and have faith

Posted by EastWestTalker > 2022-07-26 18:50 | Report Abuse

SC aren’t stupeid ,things happening at the back, you know nothing doesn’t mean nothing is operating behind