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when the company is unable to collect the trade receivable and auditor wanna to impair it, just extend the collection period so that the suppose-to-be-impaired trade receivable can be reclassified as non current asset.
This is how u cook the result for years and keep the free atm money from icps conversion.
i get it if the trade receivable is increasing on the 1st few quarters after the turnaround. But balloning continuously for over 2 years without a valid reason? Now that is fishy. The whole turnaround story is most likely fabricated.
also, remember they are now getting deloitte as their auditors. thats big 5. thus i am more assured now. will purchase at 30c, 25c, 20c, 15c, 10c... etc
yeah 40mil "cash out" by increasing the non current trade receivable from 64mil to 102mil. i must admit that they r smart in cooking the number by putting whatever money they cant possibly collect into long term asset. Brilliant trick dont u guys think so?
add on both current an non current receivables then you will be able to see the net impact is 10mil. anyway i will continue accumulating on dips.
bursa has very few good companies. most of my assets are already in US and mainly China. Has been selling most msian stocks and rotating into China last couple months
Of course u can do whatever u want. It is your money your choice. I just wanted to warn those newbie not to fall into a possible accounting scandal just like megan media 20 years where tons of newbie ignored all kind of bad signs & warning and kept averaging down until zero.
To be honest bursa and sc wont give a shit about retailers because of huge conflict of interest. It will be too late for u when they finally hv no choice but to take action. So it is up to u to protect yourself.
tough times now. of course all debtors want a longer repayment period. as long as they are collecting cash, even if its slow, its already a big improvement.
2 directors hold 60% stake. top 10 hold 70%. For a conspiracy theory to be true, there must be a potential impact. Did some banker goreng the stock price to rm6? Nope. Nobody goreng this counter at all. Then whats the purpose of beautifying accounts if does not make the directors rich? None. Then the other theory is that, the directors are just focused on the business, and ignored the stock price movement. As such, i am comfortable investing in this company.
Normally auditors won't allow the company keeps extending the collection period for the trade receivable (normally is only allowed for 90 days) or put it under the non current asset part or simply let the company to cook the results for years.
@kings Well, Malaysia boleh is our culture. Anything is possible if u live long enough in bolehland. There is simply no integrity and credibility in our system so it is up to us to spot the red flags.
I'm sorry but I'm too stupid to understand the reasoning, can someone explain? increasing receivables and receivables in non current asset = scam just because previous scandals look alike? Since there are claims that it is cooking the book can someone provide evidence?
kelvin, we ppl hv freedom to do whatever we want. I only raise the red flags for u ppl to decide whether to look at one side of a coin only or both. It is not my problem if u ppl having a confirmation bias and choose to ignore the red flags when investing your hard earned money.
But then, it is a different story if u just looking for goreng share.
you say that there is a UFO just cause you think what you saw is a UFO. but you don't have proof that it's a UFO. the burden of proof is on you to show that what you saw is really a UFO. at the end of the day what we can conclude is that the company has non current assets of receivables and high receivables that's all. you can make any decision based on that but don't go around claiming that there is a scam going on when you cannot prove it.
All i was trying to say is watch out for the red flags. Just like 1MDB which already has many red flags b4 it finally exploded.
I dont really need to prove it because this is not the 1st time i saw such a red flag that finally exploded. Every veterans know this is a bad.
Anyway I already said more than i hv to. I hv been in the market for 2 decades so i know it is pointless to point out the negative side of a company and keep arguing about.
