Let's make this a lesson. There is possibility that the latest report has been known to insiders few months back. This explained the sudden drop last month. They reason told was that the drop was due to fear from the 'director was selling', but God knows whether this is true or not.
If u read ambank report on 31.5.21.. it is written :
Inability to verify sales transactions of RM2.3bil and trade receivables of RM652mil for 11 customers for the period under audit. Serba has secured cash proceeds of up to 72% as at 31 March 2021 and up to 90% to date from those sales. However, as onsite materials of RM569mil (81% of FY21F net profit) have yet to be confirmed by the auditor, we believe that there may yet be risks for provisions or impairments.
So does this mean that Serba received the cash, but the transactions are unable to be verified?
No direct friends. I am currently working in Sarawak and I was previously stationed in Bintulu and always saw them around, in green suits. One thing for sure, they are kinda a big company here and have been there for years.
So I can say that their O&G biz indeed exists, but God knows how how is their accounting book, which is the current issue.
Those who invest should be calm when a lot of people is bashing serbadk. Why? Because it shows FEAR AT THE PEAK.. which means HIGHEST SELLING PRESSURE which means current price is the LOWEST it could go.
Vaccine is coming. This is a sign for GAME OVER FOR GLOVE. Condolences to fallen comrades... world going back to normal in 1 year time. And glove will return back to precovid price... might be even worse due to increase in production + competition with new glove makers.
aiya.. not hating... just telling this is stock market maa...
HLT, AT ciput2 produce very2 small number of glove also can fly kaw2 ma.. just telling want to open glove factory also can cause to fly2 ma... KYY post picture smiling infront of factory also can cause price to fly2 ma... aiya... not hating.. support each other.. glove or vaccine we support each other... coz in stock market... we want money ma... not the stock maa...
if want the stock or dividend... better buy topglove or supermax or harta... if wanna goleng2... can find other glove stocks maaa
coz sinopharma yet to reach US FDA 2 months minimum monitoring criteria ma..... so now this Pfizer already fulfill the 2months criteria...and instead of 50% effectiveness... they tell 90% effectiveness...... MEANING the vaccine can be used already... MEANING Humanity is winning and we will back to normal in few months.. no need PPE... no need gloves... no need PKPB... can holiday sana sini luar negara maaa... makan besar2 ma...