I was looking at the investor relations website for sfptech and did not see any Q&A uploaded for 2025 AGMs, hktee. I presumed top 30 shareholders would have "grilled" the mgmt with questions on their performance. And unsatisfactory answers could have led to minority shareholders exiting their positions?

There’s a section in Star Biz, Chinese state owned company are making late payments

Previously they made huge orders but they assume money outflow from China is controlled by state due to the tariff with US etc.. Nonetheless they have stop the order to China until payment is done and they re assured the company is not cincai company and already show full plan of payment and sfp boss ensured every penny will be paid.

This was the reason of the huge loss in Q4

This is my understanding from the Star article released around March 2025.

Please someone correct if me if im wrong

Waiting to see the results. Perhaps more to lower revenue given that (1) most results released by semiconductor firms not showing front loading by customers to avoid liberation day tariffs (2) they could have exited the business with the China customer and no rev from the Singapore subsidiary yet

no idea, hk. for me, it reflects poorly on the mgmt when there is no Q&A uploaded in 2025 AGM when they have done so for 2023 and 2024. Its a minus point. Not surprising if funds/institutions were to pare down their positions to manage the risk?

Nafiz, there is another part of your view that need to be told and be clear off. SFPTech declared big bad debt written off. Many company write-off their bad debt at the end of financial year. But this does'nt mean they cannot collect back. This also doesnt mean they dont want their money or their client is relief from their debt. Debt is debt. They will collect one way or another. We have many court for this e.g. arbitration court, international trade court and etc.

if they pay, payment will straight go into SFPTECH operating income. This will take time.

But as usual, market is overracting.
There are signs when a company is in trouble. They will start looking for loans and very often NOT from banks but from international creditors or local ah-longs e.g. cita realiti is one of them, Francis Leong and his gang among others.

When a company ask money from these people, very often the company will find ways to drive their share price down so that their creditors or ah-longs buy at cheap price. We have many companies like this in bursa e.g. Reach, Vinvest, BSLCorp name a few.

In their last QR, we see SFPTECH credit control were in place. They were no longer orders from China. And just recently, China government issued a directive to keep debt days within 60 days or pay their debt within 60 days.

SFPTECH price share drops suddenly probably because someone made a margin call. Let's see how it goes.

sfp's fate was sealed the moment they lost their biggest customer ~2 years ago. The boss was probably panic therefore simply and quickly accepted a new replacement customer from china without thinking twice of their payment record. So IMO it is the boss himself who moved his cheese...

Adama's view is purely speculative and his has no evidence to support his claim. Nafiz provided a link to an article and I agree with the article. Many local companies has their own ways to mitigate problems dealing with offshore clients. Tell us how a local company can check a state-owned companies their payment history? Also, how can local companies get their debt paid from offshore clients?
Enlighten us, please.. Adama & TK?

yes my opinion on the new customer was purely speculative and it was just my personal opinion. But then it wont change the fact that the company fails to collect the money and unable to find a new replacement customer like they used to.

chillax and keep sharing. everyone is entitled to their own opinion. My personal opinion - not the time to be gung-ho and safer to avoid it for now as the cheese is gone, no AGM Q&A, selling down like hot cakes. Stay away until the boss finds new cheese, it will be reflected in earnings by then.

the new COO and CBO are two different person from the new entity SFP Integrations Singapore; one MD and the other GM of SFP Singapore. The one that resigned recently was the GM. The new entity was registered back in Feb'24 and yet to see impact from the new entity. Another work in progress corporate development was the due diligence MoU to acquire a stake in RPM Holding Inc back in Apr'25.

Bursa Malaysia suffers from weak enforcement, frequent stock manipulation, poor transparency, and a speculative culture that disadvantages retail investors—leading to low investor confidence, poor valuations, and a gradual loss of participation unless stronger regulations, better governance, and investor protections are put in place.