To clarify on the concerns, we have conducted a virtual call with management just now and here are the key takeaways:

✅ No business ties to investigated companies
NationGate noted that it has no business relationship with any of the companies mentioned in the article, including Achieva Tech Allianz, Altrics Global Services, Aperia Cloud Services, A-Speed Infotech and Aurica.

✅ Just like other approved vendor, NationGate is just the hardware manufacturer, and it only sells to Nvidia’s Cloud Partners.
Management believes that approved vendors will not be held liable, as their servers were originally sold to Nvidia Cloud Partners. Any liability with the Nvidia Cloud Partners, have nothing to do with the hardware manufacturer/seller.

Client exposure & risk isolation
NationGate note that only one or two clients contribute more than 10% of revenue. Meanwhile, it is strictly a hardware manufacturer and will not be affected even if an NCP faces regulatory issues. As long as NationGate delivers to NCPs, any misuse beyond that point has no connection to NationGate, Dell, or Supermicro.

Gp and chen maybe maybe not bad only ,but must read book only,teach book only...not see trust world and share market running.chen some good lo,another teacher more geng.see book straight talk only,u ask more deep about talking,i think they dun known how to explain ar............Hahaha

Mr yang example today padini i can 99% gp member is many many must must have collection,see app or senior student(himself) must show or cerita curi curi kasi tahu...BAUTO and takaful.why i taling lai that,see they how talking facebook and youtube,i can say more% must have talking or show to u de.....this kind in my eye is lower action.......

no idea who is gp and chen. all in data centre is ok. But natgate? hmm... I am not familiar with natgate but I saw its hot here. went to flip open the latest report. Looks weird to me. Maybe those who have been following natgate knows better.

我刚才知道原来pbis是不是gp基金而是gp替个别客户操盘的项目，也就是说客户的钱不是好像基金那样pool在同一个户口的而是每个户口都是独立的。

如果是这样的话我就有点好奇了。如果这么多人把账户交给gp代客操盘，那么你们是怎么知道gp不会先买然后才用你的户口去接盘？如果有很多客户找他们代客操盘的话，那你怎么知道众多户口中你是不是最后一个买最后一个卖？

除非他们是好像copy trading那样在一个master account做交易然后其他的户口自动copy master account的交易。

I have questions which I cannot comprehend based on brief overview of the latest report. This is my first time looking at Natgate report and can be just stupid questions. Can anyone explain what happened to the rise in borrowings within a year by ~900M while ppe is up by ~100M only? On the other hand, revenue has gone up from 650M to 5.2bil within a year. How can they produce so much without significant capex growth?

We went to GP because we are afraid of losing money. Who know they make us lose more money. Now still not the economy crisis we had lost so much if any financial crisis then we will lose at least 85% to 90%. So sad.

what is natgate's role in this supply chain, Adama. A reseller? or assembly/manufacturing? If reseller, makes sense that ppe is limited, just buy from nvidia and sell to someone else - high inventories, high receivables. If assembly/manufacturing, seems to be world class assembly/manufacturing process given the low capex growth and yet significant revenue growth.

Ask yourself, why no guru ask their student invest in Hibiscs? They teach FA...but the best FA in bursa also no people want to buy. Why ? Real Investing is investing in hibiscs and collect dividends until shares price appreciate. It is so simple. But people want to play goreng stocks.. FOMO.. FIFO... Over optomistic growth... hahaha... dont trust any guru better.

Lol.. you are right cheng..good eye as always.. somehow they are able to get special part, put company sticker and sell high ... ahemm... i think we got a big story here!!!!!! Why customer want to buy a burger with a sticker with a such a high price... burger ganja?