15225 replies to this topic

[Lionelza1]

Just checked a up on this..... Inside info perhaps?

[Tom]

http://www.sharechat...opic/21226-eoh/

[DayTraderDad]

Haha is why I say u need exposure to the business world. Yes Deloitte was corrupt... But the instructions came from Jooste. Make no mistake monies were exchanged. The issue with conducting business in that way gives the accountants power, and the problem with that is they start to squeeze ur balls when u become greedy and arrogant, exactly what happened with ur pal Jooste.

I feel punishment is not severe enough when these accountants get caught out.... It's money that makes the world go round ne

Haha I a agree with you fully but I think the only reason Deloitte acted like that is they got scared because in the UK authorities are already after auditors not to mention the fiasco in SA with KPMG. Haha Jooste is not my pal and will never be what he did (once proven) is not forgivable but what I am saying all the time is did he commit a crime or did the accountants approve  and he did everything inside the accountant standards but things got pear shaped when auditors got scared???

AU 110 Responsibilities and Functions of the Independent Auditor:

The auditor has a responsibility to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud.

You see for me the whole problem is the word " reasonable " because what is reasonable to you might not be to me so depending which accountancy firm I use I can get different reasonable outcome and the part that makes me disappointed its legal!!

For what is interesting to me there seems to be no issues with EY audits and wonder why???

[Lionelza1]

Haha is why I say u need exposure to the business world. Yes Deloitte was corrupt... But the instructions came from Jooste. Make no mistake monies were exchanged. The issue with conducting business in that way gives the accountants power, and the problem with that is they start to squeeze ur balls when u become greedy and arrogant, exactly what happened with ur pal Jooste.

I feel punishment is not severe enough when these accountants get caught out.... It's money that makes the world go round ne

[DayTraderDad]

Fraud: wrongful or criminal deception intended to result in financial or personal gain.

Corruption: dishonest or fraudulent conduct by those in power, typically involving bribery.

 

Haha what if the so called wrong doing was actually allowed by accountants??? Remember the story  " 1+1= How much do you want it to be" this the reply of the accountant to the question of how much is 1+1.

I guess this article explains it well:  https://www.biznews....-clean-up-farce

 

The more auditors and accountants are in the headlines for their dirty work, the more money they seem to make. KPMG is a prime example. Instead of its business going down the tubes after it emerged that it watched as corrupt individuals associated with FIFA pulled off a massive global corruption scandal over more than a decade, it went from strength to strength. KPMG moved on to equally big political storms, such as aiding and abetting the Gupta and Zuma families to ransack state entities in South Africa. In the UK, the Business, Energy and Industrial Strategy Committee released a report in 2018 noting that KPMG should be “in the dock” for the “catastrophic” collapse of construction group Carillion – which went bust under a debt of £1.5bn. Instead, a staggering 635 KPMG partners saw their average pay jump to £600,000 as a result of a leap in profits, reported the Guardian in December. Jaundiced Eye columnist William Saunderson-Meyer underscores why South Africans shouldn’t really expect auditing bodies to salvage the reputations of auditors following a series of SA scandals. Instead, expect more betrayal. The article was first published on Politicsweb. – Jackie Cameron

[DayTraderDad]

Retail sales in South Africa were down in December 2018.

Yes I saw this in December at the Somerset Mall the only shops busy with exception to food retailers was Ackerman's and Pep Stores.

[DayTraderDad]

Nah man dad... There was corruption in snh... Jooste being the main man behind the scenes... Just a matter of time

Fraud: wrongful or criminal deception intended to result in financial or personal gain.

Corruption: dishonest or fraudulent conduct by those in power, typically involving bribery.

 

Haha what if the so called wrong doing was actually allowed by accountants??? Remember the story  " 1+1= How much do you want it to be" this the reply of the accountant to the question of how much is 1+1.

[Tom]

Retail sales in South Africa were down in December 2018.

[Lionelza1]

Happy valentines day my Sharechat steinhoff buddies haha.... Spoil them rotten today ....

Hell what a suprise if steinhoff spoils us rotten today

[Lionelza1]

Happy valentines day my Sharechat steinhoff buddies haha.... Spoil them rotten today ....

Hell what a suprise if steinhoff spoils us rotten today

[LarryK]

Tom, sorry mate, I don’t see the relevance of EOH and Sappi on the Steinhoff group chat?

[Lionelza1]

Nah man dad... There was corruption in snh... Jooste being the main man behind the scenes... Just a matter of time

[Tom]

http://bharatapress....-at-valuengine/

[DayTraderDad]

 

EOH is an IT labour brokering company, which is a business area that has been very much taken over by the Indian giant IT labour brokering companies, and getting worse every year.

 

For me there is no comparison between SNH and EOH. EOH is a Pandora box full of secrets and quite sure we still will ear " PAY BACK THE MONEY". While SNH they have some good business and don't believe there was corruption involved. I would not invest on this share!

[Tom]

Some guys are punting on this share, or even longing, thinking that it might rebounce.

Myself I get worried when I hear about these disasters, as the international stake holders have a strict zero tolerance to even be remotely linked to any even suspected of corruption entity.

Also there's has been lots of internal information based selling off suspecion (according to my personal observation), in addition to massive selling off from the side of the management, then telling th market (after the price is already bust, so the other share holders take the burnt).

I was lucky to sell off quickly on the day of Eskom fresh allegations, and just a day before the latest dip I was contemplating to buy but luckily escaped because I decided not to, because I was worried that the EOH share price is a time bomb.

 

I think Steinhoff saga played a role in the sell off that's still happening on EOH.

 

But it could, of course, go any direction, as it's hard to predict, but for now it on the down.

 

How much risk factor would you put on it?

 

Would you say, it's a buy, hold, or sell? would you long it?

 

EOH is an IT labour brokering company, which is a business area that has been very much taken over by the Indian giant IT labour brokering companies, and getting worse every year.

[Tom]

 

Haha another Bosasa story developing!!!

 

Some guys are punting on this share, or even longing, thinking that it might rebounce.

Myself I get worried when I hear about these disasters, as the international stake holders have a strict zero tolerance to even be remotely linked to any even suspected of corruption entity.

Also there's has been lots of internal information based selling off suspecion (according to my personal observation), in addition to massive selling off from the side of the management, then telling th market (after the price is already bust, so the other share holders take the burnt).

I was lucky to sell off quickly on the day of Eskom fresh allegations, and just a day before the latest dip I was contemplating to buy but luckily escaped because I decided not to, because I was worried that the EOH share price is a time bomb.

 

I think Steinhoff saga played a role in the sell off that's still happening on EOH.

 

But it could, of course, go any direction, as it's hard to predict, but for now it on the down.

 

How much risk factor would you put on it?

 

Would you say, it's a buy, hold, or sell? would you long it?

Edited by Tom, 13 February 2019 - 11:21 AM.

[DayTraderDad]

https://www.iol.co.z...mbling-19272059

 

Haha another Bosasa story developing!!!

[Tom]

https://www.iol.co.z...mbling-19272059

[Tom]

EOH has been going the same way as SNH, just slowly, but lots of similarities in the causes.

Today was another disaster for EOH, in a series of disasters that has been hammering the share price, and many big investors have lost confidence in the share, pulled out, and still not coming back.

Would you buy, sell, or hold EOH, and why?

And on top of that heavy impairments because of splitting with a partner that was accused of corruption.

Then the partnership with Lebashe didn't help the share price at all (although touted for quite a while by EOH during 2018).

[Tom]

EOH has been going the same way as SNH, just slowly, but lots of similarities in the causes.

Today was another disaster for EOH, in a series of disasters that has been hammering the share price, and many big investors have lost confidence in the share, pulled out, and still not coming back.

Would you buy, sell, or hold EOH, and why?

 

EOH has been mentioned several times in state capture by several witnesses and entities, and fresh allegations of corruption came out last week from Eskom, it's very possible that Microsoft 30 days notice for termination of partnership agreement is because of the corruption allegations.

And on top of that EOH posted losses for the last two financial halves.

Edited by Tom, 12 February 2019 - 08:39 PM.