Posted by Pawc > 2019-11-06 16:48 | Report Abuse

Steady

Posted by shirley8116 > 2019-11-06 17:03 | Report Abuse

will it be break 1 tmr

Posted by Henry8833 > 2019-11-06 17:04 | Report Abuse

Today profit taking well absorbed for those who bought at low monday. Queue at 96.5 sen and 97 sen to buy more shares also cannot get. O&G stocks are under rotational play. Today Carimin shoot up. UZMA will also shoot up soon, i believe

Posted by upsidedown119 > 2019-11-06 19:02 | Report Abuse

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.

Posted by HuatRex > 2019-11-06 19:49 | Report Abuse

Tmr will be another selling pressure

Posted by OTB > 2019-11-06 20:03 | Report Abuse

The project was completed in July 2017.
Over payment was already accounted for 2017/2018 financial results.
There will not be any loss in future quarter result.
Hence this over payment is already discounted.
If the court case is positive, any claim back is an extraordinary gain.
I do not see any loss will appear in future earning, I can only see the gain if the over payment can claim back.

Thank you.

Posted by upsidedown119 > 2019-11-06 20:17 | Report Abuse

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?

Posted by OTB > 2019-11-06 20:28 |

Post removed.Why?

Posted by 4444 > 2019-11-06 20:34 | Report Abuse

QR dare not out yet directors disposed meaning bad QR?

Posted by 4444 > 2019-11-06 20:35 | Report Abuse

DATO' CHE NAZAHATUHISAMUDIN BIN CHE HARON 02-Oct-2019 Disposed 169,000 0.931

Posted by 4444 > 2019-11-06 20:36 | Report Abuse

DATO' KAMARUL REDZUAN BIN MUHAMED 27-Sep-2018 Disposed 517,800 1.232 View Detail
DATO' KAMARUL REDZUAN BIN MUHAMED 26-Sep-2018 Disposed 260,000 1.218 View Detail
DATO' KAMARUL REDZUAN BIN MUHAMED 20-Sep-2018 Disposed 498,100 1.200 View Detail
DATO' KAMARUL REDZUAN BIN MUHAMED 19-Sep-2018 Disposed 1,572,500 1.200 View Detail
DATO' KAMARUL REDZUAN BIN MUHAMED 18-Sep-2018 Disposed 2,000,000 1.200 View Detail

Posted by OTB > 2019-11-06 20:39 | Report Abuse

The directors of Carimin also sold Carimin shares like no tomorrow, why the share price of Carimin went up high today ?

Thank you.

Posted by upsidedown119 > 2019-11-06 20:43 | Report Abuse

Likely answer: Carimin did not 'overpay'?

Posted by Pawc > 2019-11-06 21:32 | Report Abuse

@OTB Do not worry. There will be answers in the market. This is a good stock. Let us wait and see lor

Posted by JSoang Ooi > 2019-11-06 21:48 | Report Abuse

Otb,Wats ur tp if qr is good ?

Posted by OTB > 2019-11-06 21:52 | Report Abuse

Dear Pawc,
Golden Cross Buy signal on 6/9/2019 is 0.68.
I bought it at 0.70.
No Golden Cross Sell signal yet, very far away.
Present price is 0.975, my ROI is 39% now.

I am not worry, I am already in the money.
Thank you.

Posted by arman70 > 2019-11-06 22:03 | Report Abuse

It was not a coincidence that the 'overpayment' happened in 2017, just before the election. And who was the chairman at the time? I am not surprised if MACC is looking into the matter anytime soon. It is not just me who has this hunch but other ppl in the industry.

Posted by BlessedInvestor > 2019-11-06 22:15 | Report Abuse

It is great to see this forum has productive sharings and we see less scolding and cursing. I bought Dayang and PetraEnergy earlier then to UZMA lately after the two stocks shoot up a lot. I think very likely will be rotational play and UZMA will play catch up. Special thanks to uncle KYY, Mr OTB and Cool Eye (thru his articles in Nanyang, who recommended Armada) for discovering O&G sectors as earnings recovery sector end of last year. I still hold big amount of shares in Armada and buy aggressively lately UZMA. Blue chips stocks will be CIMB, Genting, Genting Malaysia which are poised to recover...

I hope UZMA and Armada quarterly results will not disappoint me.

Posted by HuatRex > 2019-11-06 22:20 | Report Abuse

Uzma is unlikely to bag any contract as long as the legal sue is on going. Hence, we can see why till now there is no contract being awarded to uzma. There are too many uncertainties arise as the result of the overpayment issue. Very high risk.

Posted by upsidedown119 > 2019-11-06 23:07 | Report Abuse

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.

Posted by 4444 > 2019-11-06 23:35 | Report Abuse

Talk is cheap. Can show proof?

Posted by OTB > Nov 6, 2019 9:52 PM | Report Abuse
Dear Pawc,
Golden Cross Buy signal on 6/9/2019 is 0.68.
I bought it at 0.70.
No Golden Cross Sell signal yet, very far away.
Present price is 0.975, my ROI is 39% now.

I am not worry, I am already in the money.
Thank you.

Posted by OTB > 2019-11-06 23:46 | Report Abuse

Please read the technical chart of Uzma.
The proof is there.
Please read my 2019 portfolio which I sent to all my subscribers.
The proof is there.
Please read my recommendation report on Uzma which I sent to all my subscribers.
The proof is there too.
Thank you.

Posted by Tkeng > 2019-11-06 23:59 | Report Abuse

For long term investors, non should be perturbed by the rumblings in between... That's just how the market rolls.
TA & FA aside, there's a psychological play at work. The market is governed by sentiment and reaction towards adverse news. Sadly, investors are at the mercy of news, fear mongering and what not.
Choice is yours to make. Whether to act or react. More often than not reacting always leads to loss.

Posted by upsidedown119 > 2019-11-07 01:11 | Report Abuse

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.

Posted by Tkeng > 2019-11-07 01:47 | Report Abuse

@upsidedown119 ... Astute observation. Admirable.
If only those in i3 forum stand firm in their research.
Cheers!

Posted by 4444 > 2019-11-07 05:02 | Report Abuse

While waiting for QR Brent drop only news. Brent drop USD 1 good news?

Posted by OTB > 2019-11-07 06:22 | Report Abuse

Q4 2019 result, PBT is 20,827, PAT is 11,804.
Difference is 9,023.
In all quarter results, the difference is always very small.
I had checked, the tax is very high in this quarter.

Thank you.

Posted by HuatRex > 2019-11-07 07:10 | Report Abuse

Meaning?

Posted by robert88888 > 2019-11-07 09:39 | Report Abuse

Good show, today will break 1.00.

Posted by robert88888 > 2019-11-07 09:42 | Report Abuse

As we can see, When charting (EXpoool) said down trend then we need to buy..

Posted by Henry8833 > 2019-11-07 09:54 | Report Abuse

@upsidedown119... UZMA only needs to revise the tax and pay additional tax once they win the case of RM 63million. It is up to the court to decide whether it is overpayment of not as the other parties will say no overpayment. LHDN can accept this rationale. As far as UZMA is concerned, they should have invoices concerned and paid accordingly(docs required to support their claim as expenses) and had paid to parties concerned

Posted by robert88888 > 2019-11-07 10:06 | Report Abuse

Why worry? Overpayment RM 63M and still showing in profit, that's mean company have extraordinary profit.

Posted by JSoang Ooi > 2019-11-07 10:10 | Report Abuse

Break 1.02 and fly

Posted by upsidedown119 > 2019-11-07 10:32 | Report Abuse

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

Posted by fattycat > 2019-11-07 10:41 | Report Abuse

maybe a superb Q coming soon ?
Insider already noe n purposely pressed down to collect n sell after result ? hmhm....

Posted by robert88888 > 2019-11-07 10:46 | Report Abuse

upsidedown119 Henry8833. Tax evasion is a criminal offence

Since you are so unconfident, maybe need to sell all your UZMA right now..

Posted by robert88888 > 2019-11-07 10:46 | Report Abuse

I will more than happy to buy more..

Posted by clp72 > 2019-11-07 10:53 | Report Abuse

now both of them got new stories to spin? lol...

Posted by Steven1717 > 2019-11-07 10:57 | Report Abuse

i just q rm1 .

Uzma good stock>?

Posted by robert88888 > 2019-11-07 11:01 | Report Abuse

Or someone lost the opportunity to buy cheap..

Posted by robert88888 > 2019-11-07 11:05 | Report Abuse

This is a fact and why should we spin, If someone (upsidedown119) doesn't even hold any share here..haha

Posted by OTB > 2019-11-07 11:31 | Report Abuse

This stock will be back to normal after the stock price crossed 1.02 convincingly.
All fire sales will be over.
Expect new uptrend to start after 1.02 is crossed convincingly.
Thank you.

Posted by OTB > 2019-11-07 11:34 |

Post removed.Why?

Posted by robert88888 > 2019-11-07 11:37 | Report Abuse

Obviously it has reached EMA 20, good sign to be up later.

Posted by hng33 > 2019-11-07 11:41 | Report Abuse

bought back Uzma at 98.5sen

Posted by OTB > 2019-11-07 11:47 | Report Abuse

Please give some respect to upsidedown119, it is ok for him to express his free opinion.
I appreciate his feedback at least I know what is the risk that I am invest in.
Strictly my 2 cents opinion only.
Thank you.

Posted by arman70 > 2019-11-07 12:43 | Report Abuse

buy buy buy. everything is fine and dandy

Posted by HuatRex > 2019-11-07 12:44 | Report Abuse

Ppl buy on green and sell on red.

Posted by easy616 > 2019-11-07 13:17 | Report Abuse

i agree with henry8833. If company win case, then writeback lor. Why upsidedown119 accuse company of tax evasion. simply hantam

Posted by HuatRex > 2019-11-07 15:06 | Report Abuse

Strong selling pressure