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Koon Yew Yin's Blog

Author: Koon Yew Yin   |   Latest post: Sat, 22 Jan 2022, 8:14 PM

 

Request AYS to call EGM for share buyback - Koon Yew Yin

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My purpose for writing this article is to ask shareholders to support me to request AYS to call an EGM for share buyback. The AYS price chart below shows that it has dropped from 91 sen on 25 Oct to close at 59.5 sen on last Friday. It has dropped 31.5 sen or about 30% within 1 month. As a result, many shareholders are forced to sell to meet margin calls. The more shareholders sold; the more the share price would drop-thus creating more forced selling.

Forced selling is a vicious cycle.

 

On 15 Oct, AYS placed out 380 million shares at 76 sen each. If AYS EGM is passed, the company can buy back 380 million shares to support the share price and stop forced selling.

Before an EGM can be held, an official request must be made. The request can be made by the company members or shareholders who own at least 10% of share capital or 10% voting rights. Once the summoning of the EGM is confirmed, the board of directors must provide a notice that an EGM will be held.

The total issued shares is 380 million + 38 million placement shares = 418 million shares. 

I have slightly less than 5% of the total issued shares to avoid reporting my trading activities under SC rules. I need shareholders support to request AYS to call an EGM. You can write directly to AYS email address: aysh@ays-group.com.

You just write to request AYS to call an EGM. You do not need to state the number of shares you have.

This is what I will write:

AYS board of directors, aysh@ays-group.com.

My name is Koon Yew Yin and I am a shareholder. I request you to call an EGM for share buyback to support the share price.

Koon Yew Yin 

My AYS target price? 

As I mentioned above that AYS has dropped from 91 sen to close at 59.5 sen, a drop of about 30% within 1 month. It is so ridiculous. I have been searching for another stock to diversify but in vain. I cannot find another stock sell cheaper in terms of PE ratio.

Its 2nd quarter ending Sept EPS was 6.51 sen and its 1st quarter ending June EPS was 8.5 sen, totalling 15 sen for 1st half year.  All these profits were achieved during the Covid 19 pandemic MCO lockdown. Currently there is no more MCO lockdown and AYS should be able to make better profit in its 2nd half year than its 1st half year.

Assuming its 2nd half year performance is the same as its 1st half year, its annual profit EPS will be 30 sen per share.

Based on PE 3, AYS should be 90 sen.

Based on PE 4, AYS should be Rm 1.20.

Based on PE 5, AYS should be Rm 1.50.

 

 

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Labels: AYS

Related Stocks

Chart Stock Name Last Change Volume 
AYS 0.64 +0.035 (5.79%) 9,128,200 

  Be the first to like this.
 
Sslee As long as you hold 2.5% of shareholding then you just need to give at least twenty-eight (28) days notices before the AGM to submit your requisition to move and vote on your resolution on SBB, shares split/ bonus/ free warrants, dividend and etc

As for EGM (required min 10% of shareholding) is normally for resolution to vote in your nominee as director and vote out the current director.
29/11/2021 10:16 PM
ahbah sokong
29/11/2021 10:24 PM
shortinvestor77 Soon forced selling for KYY and OTB like their investment in JAKS, one of their well known lost investment which both of them also wanted to cover up in life as well. Run ..................
29/11/2021 11:42 PM
EarnAmeal karma....didn't expect so fast
30/11/2021 8:00 AM
abang_misai Apa khabar Koon?
30/11/2021 8:01 AM
SpeedNpower Lol u wan them push back price up so u can profit more ? SC need to have a word with you.
30/11/2021 8:07 AM
KingKong_Doll Uncle really getting creative (or shall i say desperate) day by day leh. Yesterday ask to manipulate the numbers. Today suggest share buy back. This is similar like Evangrande asking thier client to write CCP to request pump in money to bailout Evergrande. You think Ah ping kor will care o not? But no harm trying la. Mana tau this is successful. Then can try asking Bursa to drop investiation on serbak. Itu lagi syiok.
30/11/2021 9:39 AM
Albukhary Haha.. when the share you invested and drop, you wanna call for EGM.
When other people share invested and drop, you laugh at them and said they didn't follow your golden rules.
30/11/2021 10:08 AM
mrbusiness @Uncle Koon,

I think the suggestion to "give twenty-eight (28) days notices before the AGM to submit your requisition to move and vote on your resolution on ...shares split/ bonus/ free warrants..." is very good news to support the share price.

Please submit the suggestion to AYS now then broadcast your letter to all. Let the news agency to pick up this news. Thanks.
30/11/2021 10:15 AM
mrbusiness I think share buy back will not be efficient and use up company's capital.
30/11/2021 10:15 AM
amateurJR haha uncle so desperate
30/11/2021 10:29 AM
Rockers Uncle trades Supermx better loh! Supermx makes billion /yr
30/11/2021 10:37 AM
stockraider Rubbish lah!

Now want share buy back pulak!

Ays heavy borrowing loh...share buy back may bankrupt the company due to liquidity loh!

Better...let the company just make money...if mkt see long term profit trend...they will rerate ays mah!
30/11/2021 11:30 AM
EarnAmeal I guess after all, he will post something like forget about the steel price and he actually sold 3 weeks ago.
30/11/2021 11:30 AM
TheGardener Post removed. Why?
30/11/2021 11:54 AM
supersaiyan3 返老還童?有趣!
30/11/2021 11:57 AM
CharlesT The high borrowing is mainly short term to finance their high inventory.

The main concern is with the recent sharp drops in commodity price, what will be the potential
30/11/2021 12:00 PM
CharlesT Impact on their inventory
30/11/2021 12:01 PM
gohkimhock be careful of companies with high borrowings. The interest expense is enough to erode the profit..

Extremely high inventory than usual means their goods movement is poor. Inventory does not need to be financed as it is a finished product. It should be classified differently than raw materials.
30/11/2021 12:05 PM
CharlesT I think they over speculated for having ard 6 months stock..

Should kena in the next 2 Q if commodity price remain in downtrend
30/11/2021 12:08 PM
CharlesT They buy n sell mostly...trading co
30/11/2021 12:08 PM
stockraider High inventory means ays speculated in steel inventory, much more than its normal reqn loh!
30/11/2021 12:09 PM
Shinnzaii Haiyo...why you all invest at your own risk want AYS management to bail out...very funny...hehe
30/11/2021 12:26 PM
stockraider Kyy,

Should propose that he be appointed to the AYS BOD mah!
30/11/2021 12:28 PM
ahbah Also call egm to declare all current yr earnings as special div. ? Good idea ? Agreed ?
30/11/2021 12:32 PM
treasurehunt Oh Chiew Ho doesn't pledge his shares. What for initiating a share buyback? Big fish has fallen into the net and he could be waiting for Christmas and CNY big feast.
30/11/2021 12:35 PM
UlarSawa Cannot lah. Uncle Koon too old to be director lah. Retired age already leh. Correct?



Posted by stockraider > Nov 30, 2021 12:28 PM | Report Abuse

Kyy,

Should propose that he be appointed to the AYS BOD mah
30/11/2021 12:38 PM
treasurehunt This type of big feast is available once in a blue moon...it may take 5 years.
30/11/2021 12:47 PM
ahbah Got age limit to become a director ?
30/11/2021 12:48 PM
ahbah Where got retired ?

He is still the most active mkt influencer lah !!!
30/11/2021 12:50 PM
ahbah kyy as a director , he can protect our retailers' interest to his utmost ability !
30/11/2021 12:52 PM
treasurehunt AYS business model doesn't any influencers. Influencer got no loyalty one. Oh must be thinking how to cook big fish.
30/11/2021 12:54 PM
i3lurker share price could and may continue dropping

later margin call for someone might happen........
30/11/2021 1:00 PM
L2 the most recent three "bear traps" were short-lived. this developing fourth looks very slippery.
30/11/2021 2:06 PM
Yu_and_Mee After all, KYY trapped himself.
30/11/2021 5:02 PM
sangkancil "I have slightly less than 5% of the total issued shares to avoid reporting my trading activities under SC rules:I have slightly less than 5% of the total issued "shares to avoid reporting my trading activities under SC rules"

market cap about 250m , 5 % about 12.5M.....
30/11/2021 6:10 PM
abang_misai Uncle, Apa macam AYS?
30/11/2021 10:06 PM
rogers123 Wah! Eariler asked people to manipulate the account figure. Now pula asked people to interfere the supply and demand mechanism. I think u r thinking urself is a god. Let the share price fall to the level which the market think it is fair. Don't manipulate the market or else SC will look for u. Dont forget u r DAP big supporter. LDHN will look for u again. Wish u good look!
01/12/2021 7:06 AM
abang_misai Why invest in this hardware company?
01/12/2021 7:21 AM
pang72 Hope uncle can escape before dropping to 50c
01/12/2021 10:16 AM
Tiger62 Old man nervous, margin call anytime price breakdown
01/12/2021 5:18 PM
s3phiroth wait what? Is that means kyy is begging for bail out now?
01/12/2021 5:35 PM
UlarSawa AYS is hardware company kah. Really kah. Not really lah. Got manufacturing also lah. Correct?


Posted by abang_misai > Dec 1, 2021 7:21 AM | Report Abuse

Why invest in this hardware company?
01/12/2021 5:39 PM
UlarSawa Uncle Koon said already he will buy up to max 5% only. Uncle still buying lah. Mana so easy kena margin lah. Correct?


Posted by pang72 > Dec 1, 2021 10:16 AM | Report Abuse

Hope uncle can escape before dropping to 50c


Posted by Tiger62 > Dec 1, 2021 5:18 PM | Report Abuse

Old man nervous, margin call anytime price breakdown
01/12/2021 5:40 PM
UlarSawa Uncle Koon not begger leh. Uncle Koon is tycoon leh. Must respect sikit Uncle Koon leh. Uncle Koon mana possible jadi begger leh. Correct?



Posted by s3phiroth > Dec 1, 2021 5:35 PM | Report Abuse

wait what? Is that means kyy is begging for bail out now?
01/12/2021 5:42 PM
UlarSawa Uncle Koon got asked ppl manipulate acct meh. Sure or not. If got asked Uncle Koon dare to publish it in forum meh. Correct?


Posted by rogers123 > Dec 1, 2021 7:06 AM | Report Abuse

Wah! Eariler asked people to manipulate the account figure. Now pula asked people to interfere the supply and demand mechanism. I think u r thinking urself is a god. Let the share price fall to the level which the market think it is fair. Don't manipulate the market or else SC will look for u. Dont forget u r DAP big supporter. LDHN will look for u again. Wish u good look!
01/12/2021 5:44 PM
sensonic I AM SO EXCITED FOR YEAR END WINDOW DRESSING AND CNY RALLY WHICH GOING TO BEGIN IN 3 WEEKS TIMES. BE PREPARED FOR THE NEXT RALLY.
01/12/2021 8:58 PM
EarnAmeal Wait another week, if price continue down Uncle will announce he already 'cabut' 3 weeks ago.
01/12/2021 9:50 PM
Stock Kingdom Have you called? KYY?
06/12/2021 4:38 PM
zzzzz No volume... market so good price also stagnant
08/12/2021 11:01 AM


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