Our website is made possible by displaying non-intrusive online advertisements to our visitors.
Please consider supporting us by disabling or pausing your ad blocker.
2022年9月的新闻，Iskandar Waterfront City Bhd（IWCity）的外部审计师安永会计师事务所（Messrs Ernst & Young PLT）辞职，因为集团坚持“良好的公司治理”，不时重新委任审计师。
换了老板换一家审计师其实也没有什么大不了的，只是公积金一直这样卖也不是办法，虽然政府最近一直在提倡国家队减少股权让外资进来，但是以市场现在的低迷状态，要恢复之前的1.6-2.6短期是很难了，现在要看gtr 老板怎么表态才是重点，如果公司有问题新老板肯定不会买的，这个我觉得可以放心
OWNERs come and go. The most important thing in an organization is its key personnel. GTronic key senior personnel are still in the COMPANY e.g. Heng Charng Yee, Yip Wai Chee, Sim Gaik Lan (she's HOT!!) and Lim Guat Li.
After years working at Corporate level in an international company, we look at the key personnel of the organization. Michael's brother is still with GTronic..He is still their CFO. We based our actions on facts and a good business intel.
You have no evidence to support your claims. If you have them, pls present them here and we would be happy to look into it and let everybody here knows.
Company is good...my team already analys the annual report...besides, the report were audited by well known auditor before they resign...should anything matter rising up...the auditor will be investigate too...price fall due to only panic selling by investor
We usually don't prefer to place the same auditor or inspectors at the same site for a long duration. CLIENT or OWNER of the project or account or equipment fear that their auditors or inspectors judgement might have been compromised or biased. They want their auditors / inspectors to keep a distance and maintain their impartiality when they carry out their audits or inspections.
Fund managers and Finance Institutions have back office staffs who advise and update them if there are new findings or changes in the market. They probably know this and right now, they are making the best of if this situation.
We change existing auditors or audit firms when we found they are becoming complacent or too lax or biased or compromise not only PwC in Evergrande but also in US e.g. Enron, Lehmann Brothers, AIG and etc.. PwC have been auditing Evergrande for 14 years (for f*^k sake)!!!
We believe GTronic switched their audit firm from KPMG to UHY to be inline with good accounting practices.
if not mistaken KPMG never immediately resign when Serba audit issues made known to public at the end of May 2021. They only resigned after Serba sued them in June 2021. They highlighted the problem to management earlier therefore Serba changed their financial year end because audit can't be completed on time.
The problem now should be the selling pressure by big institutions. Some might not want to repeat their mistakes in Serba. I remembered EPF still buying shares few days before the audit announcement by Serba.
Undertaker, I already checked. EPF & KWAP stopped buying Serbadk shares immediately after KPMG issue a disclaimer. It is also important to note that KPMG was Serbadk's auditor from 2016 until 2022. Pls see below.
Chronology Serba Dinamik vs KPMG
Jan 2023: the courts allowed a petition filed by six financial institutions to wind up Serba Dinamik and its subsidiaries over debts totalling about RM5 billion
June 23, 2021: KPMG PLT sees no basis for the legal action taken by its client Serba Dinamik
June 22, 2921: Serba Dinamik to take legal action against external auditor KPMG for alleged negligence and breached its contractual and statutory duties to the group.
June 2 to 22: The EPF had sold 20.56 million shares, leaving it with 348.29 million shares or 9.39%.
June 1: Kumpulan Wang Persaraan Diperbadankan (KWAP), which had a 5.2% stake in Serba Dinamik, ceased to be a substantial shareholder after disposing of 26.18 million shares or 0.7%
May 2021: KPMG flagged issues involving the group's transactions and receivables that amounted to at least RM3.5 billion; EPF stopped buying Serbadk shares
Apr 2021: KWAP stopped buying Serbadk shares
Dec 31, 2016: KPMG PLT (Firm No. AF 0758), Level 2, Lee Onn Building, 93250 Kuching, Sarawak, Malaysia
no one know 100% for sure what is happening behind the scene, flight ticket is here, fly to moon or fly to holland, decide you want buy or not, if you buy remember to have back up plan, so if you landed in holland you can buy another ticket coming back
nazr011, if you look back to Serba announcement they only announced it end of May 2021 while the meeting between KPMG and management already took place earlier that month. EPF still buying it during that period until the announcement out, then KWAP was the first who disposed millions of shares when share price fall to about 80c ,followed by EPF and other institutions. The thing that different from Gtronic is that KPMG never resigned as Serba auditor when they raised red flag, until end of June.
Undertaker, I already look high and low in Bursa announcements if EPF acquired Serbadk shares after KPMG raised flag on the 31st May 2021. They stopped acquiring immediately on the 1st June 2021. They disposed as much as they can in the same month.