Koon Yew Yin's Blog
Request AYS to call EGM for share buyback - Koon Yew Yin
Koon Yew Yin
Publish date: Mon, 29 Nov 2021, 09:11 AM
Koon Yew Yin
0 1,414
An official blog in i3investor to publish sharing by Mr. Koon Yew Yin.
All materials published here are prepared by Mr. Koon Yew Yin
All materials published here are prepared by Mr. Koon Yew Yin
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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Discussions
Be the first to like this. Showing 50 of 54 comments
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 ..................
2021-11-29 23:42
Lol u wan them push back price up so u can profit more ? SC need to have a word with you.
2021-11-30 08:07
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.
2021-11-30 09:39
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.
2021-11-30 10:08
@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.
2021-11-30 10:15
I think share buy back will not be efficient and use up company's capital.
2021-11-30 10:15
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!
2021-11-30 11:30
I guess after all, he will post something like forget about the steel price and he actually sold 3 weeks ago.
2021-11-30 11:30
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
2021-11-30 12:00
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.
2021-11-30 12:05
I think they over speculated for having ard 6 months stock..
Should kena in the next 2 Q if commodity price remain in downtrend
2021-11-30 12:08
High inventory means ays speculated in steel inventory, much more than its normal reqn loh!
2021-11-30 12:09
Haiyo...why you all invest at your own risk want AYS management to bail out...very funny...hehe
2021-11-30 12:26
Also call egm to declare all current yr earnings as special div. ? Good idea ? Agreed ?
2021-11-30 12:32
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.
2021-11-30 12:35
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
2021-11-30 12:38
This type of big feast is available once in a blue moon...it may take 5 years.
2021-11-30 12:47
kyy as a director , he can protect our retailers' interest to his utmost ability !
2021-11-30 12:52
AYS business model doesn't any influencers. Influencer got no loyalty one. Oh must be thinking how to cook big fish.
2021-11-30 12:54
share price could and may continue dropping
later margin call for someone might happen........
2021-11-30 13:00
the most recent three "bear traps" were short-lived. this developing fourth looks very slippery.
2021-11-30 14:06
"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.....
2021-11-30 18:10
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!
2021-12-01 07:06
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?
2021-12-01 17:39
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
2021-12-01 17:40
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?
2021-12-01 17:42
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!
2021-12-01 17:44
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.
2021-12-01 20:58
Wait another week, if price continue down Uncle will announce he already 'cabut' 3 weeks ago.
2021-12-01 21:50
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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.
2021-11-29 22:16