yea every time buy, then throw realized loss,

then rebuy, paper loss again

KUALA LUMPUR: Trading in the securities of SAAG was halted from 9am to 10am on Tuesday, May 3 after it announced a variation of results between the audited and unaudited results for financial year ended Dec 31, 2010 over the weekend.

The company said there was a variance of more than 10% between the loss after tax and minority interest in the announced unaudited fourth quarter result made on Feb 28, 2011 and the audited financial statement made on April 29 2011 for FY 2010.

"The audited net loss after tax and minority interest is RM35.703 million
which is RM28.286 million higher than the unaudited net loss after tax and minority interest of RM9.417 million.

"The difference is substantially due to the following arising out of
independent valuations dated March 31, 2011 commissioned by the company of some of its current and non current assets pursuant to which the company has incorporated in the financial statement of the company for FY 2010 for any deficit arising from such valuation of the assets," it said.

This is super bad news... Lol...

very solid news. So those who are waiting for 3-5cts, now is the chance.

Means the TOP management scammed shareholders that they made a PROFIT last time?

No It is not necessarily bad news. This is one way of playing around with accounting profit(creative accouting). They are trying to write off as much as they can in that quarter, which may be an indication that they want to bring down their depreciation in the coming quarters. There is a possibility that they may have something to show in the next quarter. Depreciation is deducted from your accounting profit. They may want to report a profit in the next quarter and they want it to be as high as possible and they best way to do that is without any depreciation or write off. Even Warren Buffet once said that he can legally play around with his company's profit easily if he wants to in one of his reports to Berkshire's investors.

This post has been edited by taxpayer: May 3 2011, 09:06 PM

Oh okay...
Then let's pray for a superb better performance next quarter!!!

wonder whether can it reach 7cent

I am queuing at 7 sen...
Lol...
But planning to purchase at 8 sen too...

Maybe this time around can wait lower..
Expecting 4 - 5 cents zone since their NTA lower and lower

Wah... Are you serious? Lol...
Hubline got new announcement, bone...
Did you read it? Do you think the directors are going to acquire or dispose shares?

Yes, serious.. Big possibilities of it happening.. Haha

As for Hubline.. Today down because of unfavorable market sentiment.. 800+ counter heading south, Hubline is not spared, which is understood..

Should oil prices start to head south, shipping company will see some favorable boost again..
No hot news lately.. Business as usual..

Come on - seriously?? It is a bad news. They been creatively deceiving the shareholders. With all that private placement, only waiting time for PN17.
If you been following this company like 3-4 years back, you will know what I'm talking about.

For Berkshire's - he have reputation to uphold, being the only company giving more than 15% return since inception way back in late 1960's. SAAG - no REAL new business. So they play investors emotions. That is the truth.

I am not condoning any of their practices and neither did I say that it is a piece of good news. It is just a mere possiblity as some companies do engaged in practices of that nature. Those companies may or may not be well runned. However, at the end of the day, accounting profit is a figure that can easily be manipulated regardless of the a company's financial condition and most of these manipulations are actually legal. I cannot say for certain that they are writing off as much as they can in order to reduce depreciation or write offs in the next quarter but it is a significant possibillity.

Agreed on the part whereby the accounting figures can be FIT for a purpose, aka adjusted.

What I was told many years ago that Accounting policies must be consistent year after year and must not be change too regularly at the fancy of the Board or Management. Have this changed now?

still hanging at 0.085 level..sigh

This post has been edited by mletee: May 11 2011, 09:20 PM

wat happen to this counter?/ .. volume is changing buy n sell que very high?

This is popular goreng counter..

And amazingly, 7 cents, it rebounded up...

Just a very small volume, Too early to tell that.

I wait lower.. haha.. Their financial standing is going from bad to worse..
Later once announce PN status, shares sure slump hard core low.. Everybody will die then