Posted by ykyew11 > 2023-05-09 00:02 | Report Abuse

Even building a decent website is just too much for a so called "IT" company, yet they claim to "get the IT job done". Are they even for real?

They are definitely making a mockery of their shareholders

Posted by jaywalker > 2023-05-09 15:27 | Report Abuse

I like the arb iot logo, well done job by a 12 year old

Posted by MarcusBioTech > 2023-05-11 23:12 | Report Abuse

FACT 01: ARBB announced it plans to go for NASDAQ Listing. Then it posted on Q1 2023 they did submit but there was delay.

Result: Achieved. ARBB (NASDAQ) now listed and valued at US4.86 per share or market capitalisation of US$116million or RM522million. ARBB (Malaysia) owns 95% of ARBB (NASDAQ). The parent ARBB (M) now has current valuation of ONLY RM134million. Bear in mind that ARBB (M) has other business besides ARBB (NASDAQ) such as Cloud service and ERP.

How would you like to buy a house for RM134,000 but the house comes with gold bars worth RM522,000?

Do your math, if you must, please.

Disclosure: I am a shareholder of ARBB and ARBB PA. May continue to buy in next 72 operational hours of writing.

Sources:
ARBB IOT listing in NASDAQ, 2023, https://www.klsescreener.com/v2/announcements/view/4628521

Posted by i3lurker > 2023-05-11 23:23 | Report Abuse

I have to agree here with felet404
the reason why SAP is expensive is the database Oracle which most SAP customers use.
the 70% less pricing is definitely fake if you use the free database MySQL and add bolts and nuts to it.

=> comparing Kancil with Benz and then claim that Kancil is cheaper is very Idio_tic



Posted by felet404 > 3 weeks ago | Report Abuse

"ARBB offers the SAP solutions at affordable price about 70% less in pricing compared to SAP Holdings in South Asian countries with proven profitability since 2019."
Seriously MarcusBiotech, how much ARB pays you to write nonsense? Can you name a few clients that are using ARB ERP software?

Posted by BursaVulture > 2023-05-12 12:13 | Report Abuse

MarcusBioTech

Can you ask the board to demo the software and services during AGM? I would love to see some magic show. Not a single screen shot of their software available on their website.

Posted by felet404 > 2023-05-12 12:23 | Report Abuse

Since Marcus want to talk about Fact, let's talk about fact:
1. Based on your Fact 01, you buy a house but the house got gold bars, what if those gold bars are just gilded bricks to CON you? The financial report is so questionable and I really doubt the professionalism of the auditors, if this ARBB company goes down, the auditors should bear certain responsibility!
You still have not answer my questions if you can name a few companies that using ARB super duper ERP software which provides the company a revenue of 150-300 million? I bet a lot of professionals from IT line never heard of it.

2. I am also the shareholder of this company, just that I have doubt on the person that runs the company, which I heard a lot of negative news about the MDs, now it is too late for me to exit as the share prices are worthless! Good luck to you if you still want to pursue on this stock, it makes me wonder if you are being paid to entice other innocent investors to buy this share. Lol

Posted by ykyew11 > 2023-05-12 19:07 | Report Abuse

Any chance we can vote Liew out in the next AGM? Feels kind of difficult given the number of shares he holds. The current share price doesn't justify him to be there at all, in fact I'd argue Liew is not acting in the best interest of the shareholders.

Posted by BursaVulture > 2023-05-13 18:22 | Report Abuse

The only difference between ARBB and Serba is one got caught and the other might get away with the crime. Serba IT too has huge revenue, but 0 screen shot of their software, no real clients except for a toilet cleaning co in India....

Posted by MarcusBioTech > 2023-05-13 23:55 | Report Abuse

FACT 02: ARBB (M) wanted to expand via Acquisitions in Malaysia.

Result: In 2021/2, it made two strategic acquisitions. Walk the Talk is important as it improves shareholders confidence.

Disclosure: I am not paid or related to any key management in ARBB. Opinions expressed are mine. Caveat Emptor. Please do your own due diligence and facts findings before investment decision.

Posted by MarcusBioTech > 2023-05-14 10:21 | Report Abuse

FACT 03: ARBB strategically collaborated with BFI Asia , leading ASEAN Management consultancy, to provide Working From Home environment, company secretaries and SMI firms. Saves costs and time for CLIENTS which need to comply with Company Law to attend meetings albeit remotely. Target revenues are RM100million in 24 months which is end 2024. Actively seeking to link with other management consulting firms such as Eurogain, Malaysia’s leading franchise development platform, as launchpad to reach out frachisors outlets on software which may include AI and Data Analytics.

Result: ARBB is expanding its Software development by integrating to real users.

Disclosure: Investor for over 3 decades. Constantly looking for buy severely undervalued companies with sustainable competitive advantages (Michael Porter,1995)

Be cautions when others are greedy, be greedy when others are cautious (Warren Buffett, 1997)

Source: https://theedgemalaysia.com/article/arbs-unit-eyes-rm100-mil-revenue-within-24-months-bfi-asia-collaboration

Posted by BursaVulture > 2023-05-14 16:56 | Report Abuse

Can give RM100m project but company doesn't even have a website? or I am not good in googling, please share BFI website. Thanks. I want to know more about BFI to know if it is a legit company.

According to my research, BFI was founded in July 2020, about 3 years ago, and so fast can give rm100m project to ARBB?

Posted by Michael R. > 2023-05-14 17:32 | Report Abuse

Its normal ... everyone could sign MoU but stated it like classified customer..
Can inflate maximum possible trades value worth millions or billions.. but later end up just 1K 1Mil etc who enforce anyway...

Posted by felet404 > 2023-05-14 23:18 | Report Abuse

Hahah, this Marcus is a joker, I hope he knows the difference between RM100m and RM100, in Malaysia it is not that easy to have a RM100m revenue, like what BursaVulture mentioned, if a company don't have or can't even afford a proper website, how to help ARBB create RM100m revenue? This guy gave his 2 cents about ARBB Counter
https://www.youtube.com/watch?v=vtxyrTU6KiA

Since Marcus love to use theedge as reference let me pull out some news about another news related to fatty liew

BEFORE:
https://theedgemalaysia.com/article/ageson-kobena-eye-rm23b-annual-revenue-smart-vending-machine-venture

AFTER:
https://theedgemalaysia.com/node/666805

Please check again, may be MOU with BFI already called off without you knowing it. Perhaps you can call those guys from Eurogain on news link that you shared to verify if the collaboration still on going? LOL!

Posted by line > 2023-05-15 18:22 | Report Abuse

I pity Larry Liew ….

Posted by ykyew11 > 2023-05-15 21:38 | Report Abuse

Honestly I won't be surprised if the next announcement other than the quarterly reports is about the resignation of auditors

Posted by line > 2023-05-16 13:19 | Report Abuse

I m just worried angry investors who have lost their life time savings will strip and beat up the directors, as no money to survive. Thinking at least can go to jail. Plus they feel they can study something in jail...

Posted by line > 2023-05-16 13:20 | Report Abuse

i have advised many times...marcus if possible don't fan the flame. The public can be very angry bro.

Posted by line > 2023-05-16 13:23 | Report Abuse

i appreciate your comments but not the right time bro...

Posted by i3lurker > 2023-05-16 13:28 | Report Abuse

If it is RM300 million turnover and software is 30% of SAP price, then there is a hell of a lot of software floating around Malaysia and SEA, Asia, Gaia, Galaxy, Universe and maybe even Andromeda.

so far no one ever heard of any software.
The said RM300 million software must be so good that it is invisible.

That reminds me of Serba RM hundreds of millions of invisible projects showing up as empty land in Google maps and other satellite mapping systems.
:)

Posted by Tokyolo > 2023-05-16 16:53 | Report Abuse

HAHA laugh at ARBB, everyone know as long u got money, NASDAQ listing also no problem

Posted by line > 2023-05-17 14:29 | Report Abuse

more and more people from the public are getting angry....i think they shouldn't do the agm... many people lost money....getting stripped naked is going to be really bad

Posted by BursaVulture > 2023-05-17 15:41 | Report Abuse

maybe even liew lost money, maybe he thought with the nasdaq good news, he can offload his shares. but never fly also.

Posted by MarcusBioTech > 2023-05-18 01:12 | Report Abuse

I am delighted when there are differences in opinions. Arguments backed by facts are powerful.

Accusations that there are no products visible is shallow. Why? Independent parties have to express opinions on Financial Statements.

External Auditors are bound by the best audit practice issued by World No. 1 body IFAC (International Federation of Accountants)

To state Serba Dinamik only reinforce two points:

1. Didn’t External Auditors find out the irregularities? Of course, the damage was done, but was uncovered, nonetheless.

2. Aren’t one conveniently overlooking the External Auditors work over 99.93% or over 1,400 public listed companies which reported Unqualified Financial Statements.

Thus, if ARBB wishes to defraud the public, shouldn’t it do so via Private limited (Sdn Bhd) instead of risking it in public eye under EA scrutiny?

Oh yes, I see the users like to hurl insults and blanket statements. Well, I suggest to desist from it as it reflects your upbringing by parents. ( I ignore such negativities)

Upgrade the forum to facts exchange and some of contributors do which I highly appreciate.

Posted by BursaVulture > 2023-05-23 22:33 | Report Abuse

1. Why do they kept on changing auditor?
2. In the AGM, please tell them to demo the software and share screen shot of the software.
3. Please tell them to reveal the list of clients.

Posted by sting79 > 2023-05-24 11:41 | Report Abuse

MarcusBioTech: ARBB offers the SAP solutions at affordable price about 70% less in pricing compared to SAP Holdings in South Asian countries with proven profitability since 2019.

ARB selling SAP solutions or licenses? Best joke in the SAP world, at least in this part of the world...

Better be careful with your words/comments as SAP world is very small, advise you to remove 'SAP' from your articles. You don't want to mess with real SAP vendors believe me...

Posted by sting79 > 2023-05-24 11:52 | Report Abuse

MarcusBioTech: ARBB offers the SAP solutions at affordable price about 70% less in pricing compared to SAP Holdings in South Asian countries with proven profitability since 2019.

If you think the chances are not many from the SAP industry is checking out I3Investor forum, you are dead wrong. Many SAP counterparts is involve in the share market since years ago, and you are a fool to put the above statement in a public forum.

To all who read this, the statement above about ARBB offering SAP solutions is definitely a big RED flag. Please avoid this counter, and best of luck to those who are holding.

Posted by Spacewhalezz > 2023-05-24 13:36 | Report Abuse

Following Ages footstep

Posted by MarcusBioTech > 2023-05-25 01:31 | Report Abuse

Context of pricing ERP.

ERP systems are usually customised. For SME (Small-Mid sized firms) don’t need a full suite of ERP system. SAP Business One Perpetual License at US$3,213 per user. if you put 10 users for 5 departments, over 5 year period, the costs RM8.87million. SAP is too expensive for SMEs using a five year subscription contract cost Thus, many independent ERP providers can compete with prices as little as RM0.5million per year or RM2.5million over 5 year contract can find a niche market or 70% less to SAP Business One Perpetual License.

ARB Bhd is well positioned to focus on this largely underserved SME segment.

Posted by MarcusBioTech > 2023-05-25 01:31 | Report Abuse

ARB Bhd is well positioned to focus on this largely underserved SME segment.

In other words, to have bare essentials ERP and out-price SAP are plausible.

Are the Reported Financial Statements reliable?
External Auditors are bound by Auditing Standards to obtained SUFFICIENT APPROPRIATE AUDIT EVIDENCES (SAAE) to form an opinion on ARBB’s Financial Statements including the Revenues segments.

Again, if you see my earlier posts, SAAE are strongest audit evidence that ARBB is legit on its operating businesses.

To state that Financial Statements are absurd or foolish is to accuse the External Auditors failure in delivering their duty to express an opinion based on SAAE.

ARBB Audited reported is UNQUALIFIED Audit Opinion meaning that one can rely with relative confidence on its reported finances similar to other listed entities such as Maybank, Sime Darby or Small firms.

Can anyone give evidence(s) that EA have failed to in obtaining SAAE on Financial statements thus making it unreliable?

Can anyone provide evidences:
[1] that cast doubts on ARBB’s reported profits of RM25million over last 4 quarters giving PE ratio of 5times based on current market capitalisation of RM124million?
[2] to state that ARBB’s Net tangible asset is 31 sen per share which is over 65% discount as its market price at 10.5 sen (at time of writing)?

Source: Fortune (2023), SAP vs Oracle ERP Pricing , https://www.forbes.com/advisor/business/software/sap-vs-oracle/, visited on 25 May

Note: I have earlier posted SEVEN reasons why ARBB’s financial reports up to year 2022 are reliable for investing decision.

Posted by sting79 > 2023-05-25 01:53 | Report Abuse

MarcusBioTech: ARBB offers the SAP solutions at affordable price about 70% less in pricing compared to SAP Holdings in South Asian countries with proven profitability since 2019.

You mentioned ARBB has proven profitability since 2019 by offering about 70% less in pricing. Please provide a link/source to this claim and existing clients using ARBB SAP Business One. It's not very hard to validate your claims as myself has been in SAP for more than 15 years.

Posted by MarcusBioTech > 2023-05-25 02:18 | Report Abuse

Re-posted and inserted “ ___ “ for emphasis

SAP HOLDINGS "of Asia" is Here!

SAP is world leading "CRM and ERP provider" with market valuation at EURO60BILLION or RM290 BILLION.

ARBB offers the SAP solutions at affordable price about 70% less in pricing "compared to SAP Holdings" in South Asian countries with proven profitability since 2019.

+++++++++++++++++++++++++++++++++
Clarifications
The context of my posting is ARBB offers ERP solutions that is so attractive making it the SAP of Asia. SAP offers ERP solutions in which ARBB can under-cut on pricing with its own Customised ERP solutions.

I didn’t mean that ARBB is able to buy from SAP and then resell it at 70% less. How can that be unless done so at a loss?

I am being quoted out of context.

Confident it clarifies.

Posted by MarcusBioTech > 2023-05-25 02:22 | Report Abuse

on a positive note, delighted to have an SAP professional of 15 years contributing. Thank you, sting79.

If possible, I would be grateful if you tell me the differences between SCICOM Berhad, ARBB and SAP in terms of target customers as in are they direct rivals or the complement one another? Best hear from expert like you.

Posted by sting79 > 2023-05-25 02:44 | Report Abuse

Please provide the name of ARBB ERP software, nothing could be found online.

Even the address on arbberhad.com is dubious, my previous employer is in Menara Exchange 106 where its directory board list down all the tenants there. Again, it's not hard for someone to just go there to verify if ARBB really has an office there.

Posted by sting79 > 2023-05-25 03:01 | Report Abuse

I'm not sure if any SME looking for an ERP solution would consider ARB, as its website has almost zero information. While its "About Us" section highly proclaims "We focus on software development in cloud customised ERP and IoT Solutions to reduce dependence on external vendors in order to capture higher share of markets".

Similar modus operandi on Serbadk IT page with its dubious client addresses and client websites and fake client (this is confirmed as I'm working in a project for the named client at that time).

Posted by sting79 > 2023-05-25 03:20 | Report Abuse

An article on ARBB which raises many red flags:
https://klse.i3investor.com/web/blog/detail/The1994Investor/2021-05-14-story-h1565061436-ARB_Berhad_Not_As_Good_As_It_Seems_Be_Cautious

Posted by MarcusBioTech > 2023-05-25 11:04 | Report Abuse

This is addressed before. Independent parties with low ethical threats of self interests have verified ARBB Financial Statements that the businesses it reported are legit. See my earlier posts.

If one doesn’t trust the Corporate Governance system, then Stock Market investment is not suitable.

On 16 Mac, 2023, an announcement on change of address to Menara 106. Good idea to visit and verify if one is saying that ARBB is not telling the truth to Bursa. But why one be suspicious on this?

Could it be Menara 106 hasn’t update their tenant listing? It is new building, right?

Source: Bursa 2023, Change of address https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3337281, visited on 25 May

Posted by MarcusBioTech > 2023-05-25 11:04 | Report Abuse

My take is ARBB is deeply undervalued and looking to see its expansion in SEA region via Mergers and Acquisitions especially now with its listed subsidiary in NASDAQ. ARBIOT is valued at US$102.5million or over RM470million. Just this subsidiary ie not counting other businesses of ARBB such as Agro-tech, CRM, CloudSec, Cloud computing, ARBB as parent is valued at RM124mil.

Including its subsidiary of ARBB (NASDAQ) , ARBB (M) fair value needs to be at least 68sen per share. Notwithstanding the fact that ARBB-PA will auto convert to ordinary shares next year, the valuation is 52sen. that is 50 bagger potential.

Note: Caveat Emptor. I own both ARBB and ARBB PA and continue to buy.

See good article on how undervalued ARBB is.
https://klse.i3investor.com/web/blog/detail/Potentialinvestment/2022-08-15-story-h1627922367-ARB_BERHAD_Nasdaq_Spinoff_Explained

Posted by BursaVulture > 2023-05-25 12:24 | Report Abuse

MarcusBioTech

Screen shot of their software or demo, please. I have a space house on the moon to sell to you, please trust me.

Posted by MarcusBioTech > 2023-05-25 12:53 | Report Abuse

I see your distrust simply because you couldn’t see actual product.

On your house on moon:

1] Do you have External audit report to verify the house valuation?

2] Can you submit license from Bursa Malaysia stating your construction business and your shares are traceable?

3] Do you have independent Architect Certification to tell me the construction on moon progress?

4] Can you show your Architect Drawings endorsed by Government?

5] Did you win any independent Awards such as Best Property Design which we saw Sunway Group, GAMUDA Group and Sime Group won?

If your answers above are YES, I am interested. Just not taking your word for it, I am sure you understand.

This is Corporate Governance that is much higher intensity on ALL listed companies in Bursa.

Of course, there are companies who fall through the cracks of supervision such as S Dinamik but that is extremely rare. If you score 99.93% in exam, aren’t you top scholar? Bursa has that score and ARBB is under this scrutiny.

Posted by mectronx > 2023-05-25 16:04 | Report Abuse

where is nasdaq power?

Posted by sting79 > 2023-05-25 16:11 | Report Abuse

MarcusBioTech gives confusing and nonsensical reply, this is what a typical straw hat man sounds like. Not the one piece straw hat lol. Better don't feed the troll anymore, save some energy for shopee payday better!

Posted by sting79 > 2023-05-25 16:52 | Report Abuse

MarcusBioTech: why cannot be suspicious of the company address? Menara Exchange 106 is considered to be a luxury location for offices to be setup.

When I found out that serbadk client's addresses and websites are dubious, that prompted me to be cautious and finally sold off way before the shit hits the fan.

Be a nice guy, go there (can take lrt) and screenshot the building tenant directory list for us ok? I don't hold any shares but I'm sure many others would appreciate what you've done and feel more at ease.

Posted by BursaVulture > 2023-05-25 19:00 | Report Abuse

MarcusBioTech probably invested majority of his money into ARBB, hoping the nasdaq listing will make him a multi-millionaire.

Just look at ARBB website, where is the screen shot? where is the demo? where is the download? where is the tutorial? where is case study? nothing.... only stock images. Look at the recent listed Autocount, they have everything.... how can a software company not show their software?

you need to wake up and smell the shit Liew lied to you. Scam stock...

Posted by sting79 > 2023-05-26 10:18 | Report Abuse

Looking at the past 3 years price volume, the highest daily trade was mid Aug 2020 with around 46 million shares traded. That translates to a meager ~6 million MYR worth of trades. With this I can speculate that the shark is just some kicimiao one, the boss need spend more money on market makers, not business makers lol!

Posted by felet404 > 2023-05-27 01:54 | Report Abuse

@BursaVulture, you can't wake someone which is pretending to be asleep like MarcusBioTech. Fatty Liew is not that kind of person that wanted to build the business, he just want to make quick money from share market and from shareholders, period.

Posted by Kho Hui > 2023-05-28 00:25 | Report Abuse

散户们，千万不要购买这间公司的股票！这两年来，忠于这间公司的散户们，损失了近90%的本金！
（1）ARBB, 警告⚠️ 不要买此公司股票，诸多因素，对散户不利，股价被操控，千万不要买此公司股票！
（2）比尔·盖茨有一句话，“破产永远都在18个月以内。” 因为年报出来时，一旦有亏损就要引起注意，如果不能够及时扭转，各方面压力会随之而来，包括股东、金融机构、银行系统等。天下没有救世主，只有靠自己。 ARBB公司出现太多可疑的问题。 其姐妹公司Ageson执行董事被控涉嫌伪造文件及造假账。 ARBB公司姓刘的，也涉嫌造假账及伪造文件。 姐妹公司Ageson，从四月起到5月10号停牌为止，股价跌了近90%， 坚守其公司股票的散户，估计欲哭无泪，损失惨重。 这就是典型的对散户极其残忍不友善的公司董事之做法。
（3）ARBB的姐妹公司Ageson的结局，停牌的事件过程是这样的对散户不利，由此可见ARBB及Annum公司，对比较弱势的群体散户的做法，应该也是一样的，因为这三间公司的董事大部分都是一样的。
（4）MCO以后，很多公司都倒闭了，整个市场非常严峻。曹德旺说，“寒冬时候，要小心你的播种，因为会有很多的烂尾。”Ageson近期爆出很多MOU被取消，可想而知，行情真的很坏，这时候投资该公司（包括ARBB及Annum)，担心有烂尾的结果。 据说Ageson在股价开始跌之前，估计大股东已转移了公司股票的钱。 虽然公司看似大股东也损失很多，其实他们早已转移风险及资金。最大的损失，永远是后知后觉的散户，被割韭菜了。
（5）以此来看，公司大股东一贯的鸟性，他们对散户极其不利。 公司的稳定性也不够。 奇高的应收贷款没收到钱，应收账款被归于公司盈利里面，账目看似很赚钱，但是却收不到钱。 万一过一阵子，经济不景气，欠账公司不还了，就变成了坏账。 ARBB公司就会出现比尔盖茨所说的情况一样，公司距离破产不远了。 而这对大股东们丝毫没有影响他们的财富。到时最大的损失还是散户。由此可见，这间公司对散户是极其残忍，不友善的。
（6）ARBB竟然能够在美国纳斯达上市，由此可见其账目的合法性，公司的生意，还是有点靠谱的。只是现在的行情很不好，希望不会出现其姊妹公司所出现的情况，诸多的MOU被取消。生意失败，公司坏账频频，陷入严重亏损的情形。
（7）由于公司不够透明，执行董事刘身兼多职，好几间公司的董事，而且这几间公司，这两年股价跌跌不休，这两年持守的散户们都损失惨重。除此以外，公司还有众多的嫌疑，是个极其不稳定的公司，即使公司赚钱，但是公司却也不赚钱，其股票也不值钱，因为被操控了。忠于购买此公司股票的散户们，都蒙受巨大的损失。
（8）加上这两年行情不好，公司董事又身兼多职，对公司业务显得不够精神。这间公司问题很多，每年基本上都会更换会计行，应收账款奇高（每年都在巨增）。公司网络非常讽刺，连提示scam的链接网站都做得比公司原本做的网站有水准多了。 这间公司太多问题，说不清公司的业务，客户，应收账款等等。 对散户割韭菜的手段，可谓恐怖至极。
（9）公司的恐怖程度，投资这样的公司极其危险。 在此呼吁，散户们千万不要购买这间危险的公司。 因为您被割韭菜的几率是90-100%（以这两年，公司的表现来看，散户们，被割韭菜的情况是90%左右）。 散户们，千万不要投资这间股价被操控的公司！

Posted by thanos2020 > 2023-06-02 13:31 | Report Abuse

I have to agree with BursaVulture and sting79...

Let's talk facts here, based on their 2022 annual report, very high trade receivables of 101mill, the excuse here, is their payment term can be ranged from 180 to 210 days is really baffling...I run a biz also, and although the nature of the biz is different, we cant be offering our payment terms until 180-210days...we will gulung tikar even before 150days

As for their cash at hand, mainly generated from financing activities such as conversion of ICPS and rights issue, correct me if I am wrong? Is there any real cash deriving from their actual biz of IOT/customized ERP (excluding trade receivables = bad debt later if failed to collect)

This is really is a red flagged, cash flow not coming in from their core biz but mainly through financing activities instead...

Posted by Phoebe > 2023-06-02 14:01 | Report Abuse

This reminds me of another counter Xinguan which the legendary Mr. Koon invested in and believed the account is so real due to his cousin was the founder of the accounting firm that audit xinguan. If you are old enough, you sure remember this saga. If you are a newbie, be very very very careful and read the link below. If Mr.Koon also get Koooned then .... @^_^@ meow

https://klse.i3investor.com/web/blog/detail/ddsqwdwc/2015-12-31-story88943-XINQUAN_Koon_Yew_Yin_Walks_Out_of_the_AGM

Posted by Tokyolo > 2023-06-08 15:54 | Report Abuse

Iot is the future but arbb is not the future

Posted by thanos2020 > 2023-06-09 10:20 | Report Abuse

after looking through their 2022 annual report/website, I dont see any products, not even a printscreen of their profitable ERP/iOT software. All I see are sales to unknown companies with incredible profits (all parked under receivables).

This reminds me of Serba Dinamik, with huge dubious sales to many shell companies (easily created to issue dummy POs) with incredible profits (all parked under receivables too).

I am not saying ARBB is another Serba, so make your own conclusion guys...