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.
Their Chairman, Dato' Hamzah previously worked with PwC. Current auditor is Grant Thornton Malaysia PLT.
Chong Soon On, CFO, Chartered Certified Accountants, U.K., likes to jump ship minimum every 2 years. He worked with 6 employers before he joined SFPTech. His longest stint was in Nissei Technology. Spent 10 years there. Just joined SFPTECH in 2023.
SFPTECH is going to issue Book of Notice soon after Grant Thornton completes their audit. Change of financial year is very unlikely at the moment or anytime soon.
@James Lee.... betul la... Ada Lamborghini wor!!!! wakakakaa... Yellow colour. Plate number 5154. Walawei!!!
Klu SFPTECH dive lg, kita beli petrol pergi Simpang AMPAT!! That Lamborghini can easily burn...
Now you all concern about 1 negative trade receivables and 2 high hire purchase repayment, is it?
1 Negative trade receivables happen when customer pay outfront or in advance. This happens all the time. Manufacturers / suppliers need working capital and their customer understand this and very happy to oblige SFPTECH. Customers usually don't hesitate to pay in advance. They just want their suppliers to give priority to their orders and this will ensure smooth supply of their order. There are ways how not to have negative trade receivables. We park them in Liabilities before final invoice. If they do this, I think one of you might jump out of the window from your expensive condominium somewhere.
2 High Repayment Hire Purchase. SFPTECH began with one factory. A corner lot. Then they expand and now they have 3 factories. Plant 1 & 2 alone around 145,000sqft while Plant 3 is about 320,000sqft. They uses advanced machineries e.g. CNCs, Press/stamping machines and etc... and not only that, they have a certified clean room, okay? These equipment and facilities don't come cheap. We don't buy them bullet shot or cash.
3 Expected credit loss. When we make to order products or make standard products and sell to any middle party or trader or agent, the quality of acceptance is on the end customer. When there are some issues with their products, they need to be repaired or replace or downgraded. They don't know this yet. Usually they book a high figure for this. And usually, they will get back some portion of their money.
As for Serba Dinamik, KPMG found Serba Dinamik cooked up their books. They taught they can get away with. They took their chance to create invoices from their so-called international subsidiaries. KPMG & E&Y are international auditing firm. They have branches around the world. When Serba Dinamik claimed they a client in Dubai invoiced them. KPMG & E&Y found the address on that invoice was found to be a shopping mall. There are many other findings. They are lucky not to spend the rest of their life in jail.
They dont have Lamboghini or Ferrari, 'kay?!! They parked their BMWs and you can see them at their new factory. Lamborghini and Ferrari run at high RPM. Penang is not a good place to drive 'em.
In my opinion, SFPTECH is way better than GTronic. Key personnel & shareholders have vast experience in their business. Balance sheet & cash flow looking good. Even if some of you here say there are some current asset issue but looking at their balance sheet, SFPTECH still have adequate Non current asset to cover any shortcomings in their current asset. Provided there are no issue in their liabilities.
Serba Dinamik is different entirely. That Kassim promised to make a satellite wor!!!! hahahahaha
SFPTECH price has reached its peak. When its share price shows sign its not going to go up again, big funds managers started their sell-off while its still high. Then market started to panic, afraid and they sell their too. Big fund managers saw this and they started selling everything. Whenever they see there is keen buyers, they sell. They sell until liquidity dries up. There is no buyers anymore wants to buy. Then these big fund managers start to worry. They will create all sort of things to lure you come back and buy again.
Sentiment is another thing. Guessing exacerbate the drop. If there is a minute chance SFPTECH will not perform as expected, please stay on the sideline.
If he is the one who pushes the price down, he also the one who sell off his shares. This means he needs money. Everytime he sells his, Bursa will inform market that he sold his shares. BUT this is not the case. Unless he uses a proxy to deal with his shares.
Just recently, their Chief Technical Officer sold his shares.I dont know what this means BUT we need to hold on and wait until sell-off is over then we make our move.
