End of translation.

The table in the Chinese article is not translated since it is in jpg format and I dont know how to turn it into text for ChatGPT to read. Happy Investing, Good Luck!

Bullish on the Future of Fruit and Vegetable Farming

According to the company's financial report, the increase in revenue mainly came from the company's wholesale business. However, due to a one-time negative goodwill gain of MYR 20.69 million in 2021, the profit for 2022 appears to have decreased significantly.

Based on its positive outlook for the future of fruit and vegetable farming in Malaysia, the company has decided to enter this industry and expects the new business to contribute at least 25% of its net profit.

The premium for ANNUM-WA is currently at 55.1%, which is relatively high for a warrant that will expire in two years. The warrant is also considered expensive due to its higher implied volatility compared to the historical volatility of the underlying stock.

Due to the significant drop in ANNUM's share price from its high, as well as the appearance of new significant shareholders after the issuance of the additional shares, there is a greater possibility of a rebound at a lower level, leading to support from investors for ANNUM-WA, which has a lower entry cost.

Disclosure: The author of this article holds shares in the company mentioned.

Disclaimer

This article is purely for academic or experiential advice, and readers who are interested in investing should conduct their own research or seek advice from a stockbroker before making a decision. Investment involves risk, and we encourage the creation of wealth through correct investment methods.

Hi, I asked ChatGPT to translate part of the article
https://klse.i3investor.com/web/blog/detail/nanyang_warrants/2023-02-27-story-h-297334794

The result is:
Title: Nanyang - Warrants Column / Wen Shilin
Entering the Intelligent Agriculture Industry, ANNUM and Its Warrants Deserve Attention / Wen Shilin

ANNUM-WA, a warrant issued by ANNUM (5082, Main Board Industrial Stock), was listed on Bursa Malaysia last Tuesday. The warrant was part of ANNUM's recently completed additional share issuance plan, and was distributed free of charge to subscribers at a ratio of 3 warrants for every 4 shares subscribed, with a total of 97.5 million units issued.

It is worth noting that the subscription rate for this additional share issuance plan was not high due to the issue price of 30 cents being higher than the market price. However, some investors made up for this by subscribing for additional shares, enabling the company to achieve its target fundraising.

After its listing, ANNUM-WA traded between 6.5 cents and 8 cents, and closed at 8 cents last Friday. ANNUM's mother stock has been on a downward trend for the past year, falling from a high of about 85 cents to 24.5 cents last Friday.

Formerly known as New Hoong Fatt Holdings, ANNUM is engaged in the plywood and construction businesses. However, the group has entered the intelligent agriculture industry through this corporate activity, mainly by cultivating Japanese melons through the additional share issuance plan.

For the first three quarters ending on September 30, 2022, ANNUM's revenue increased significantly by 40% from RM167.16 million in the first three quarters of 2021 to RM234.20 million. The company's net profit, however, decreased by 48% to RM22.68 million.

ChatGPT Feb 13 Version. Free Research Preview. Our goal is to make AI systems more natural and safe to interact with. Your feedback will help us improve.

haha, another and another big boss will be coming in? I said several times before can consider holding Ptrans as gifts to our children....nice that big bosses finally also keen in Ptrans! Didn't know I think like big bosses, regret didn't go into business, haha. Happy trading, friends!

PPl converted warrants to mothers and sell for quick gains. But I think no worry as long as company use the conversion fees wisely!

6 sens, good job! But expecting more upwards, with so much developments needed in East Malaysia！加油!!

Greensky2, I mean market cap is 300mil, not profit. Anyway, am holding on as things looks ok especially the newly appointed auditor.

Long queue at LR, good sign. Ppl who sell mother below fair price and hope to get cheap by bidding excess be careful....may be difficult. Good luck!

not directly, just to remind us of the durian industry. Btw, I tend to be a bit more optimistic in outlook. TAYOR

@Alfl3 You don't mean the one posted by ivanlau 6 days ago?

https://www.youtube.com/watch?v=pc3dJ-c9tZ0

HM's 50 acres durian farm will start to bear fruit in 2026, 3 more years. Meanwhile, I will just sit back and let HM work on its diversification plans to oil palm.

@Greensky2 According to AR2022, number of shares=353mil, so market cap is 300mil only. How you get few billion?
Am hesitating to hold or sell half. Why loss making? It does not collect payment in phases while building power plant? Would be great if some one can list the pro and con.

Oh, a former director who retired sold 8.8 mil shares in just 2 days 20&21 Feb. Think this was the main reason why it went so much down that two days. Expecting upward movements going forward.

@AlexChia I agree, must not practise selective prosecution....
Instead, as much as possible, better to move on and forward!

NOT bad at all! See
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=221985&name=EA_FR_ATTACHMENTS

3. Group's Prospects
The Meg which comprise 1,020 apartments and 14 shop units is more than 95% sold since we started selling this
project in January 2022. We are excited with our upcoming launches given the strategic location and well accepted
product offerings. While Penang will form the bulk of our future launches, the hospitality segment is enjoying historical high occupancy rate and average room rate on the back of continued strong recovery in tourism and business travel.

I cancelled my queue to sell, haha

To me the current warrant price and the quite long queue at 6.5 sen mean the current mother price is not justifiably low. Why ppl pay 7sen for warrants if the mother won't be at least 35 sens in 2 years time when expiring?

Great, report says UP replanted nearly half its land with UP seedlings that produce double the yield. I cancelled my sale :)

Okay, thanks for the explanation. But it's going downward. Maybe just overall market trend.....Hopefully new auditor will be announced soon!

Why change of auditor? Kind of worrisome due to other examples of falsifying accounts:(

@tklim Any comment on the current warrant price?

Looks like ANNUM now is grossly undervalue!
Refer to circular below Section 8.3 p. 38
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3315038

The maximum scenario applies now, but even after all the warrants are converted, the NA per share is 60sen. Furthermore, in the last couple of years it is a profitable company. So what should be the fair price now? I don't think is as low as 25 sens, especially we paid 30 sens for a right share. Personally. won't think of selling if less then 40sens. Happy trading!

Looking forward to ANNUM's version in a year's time!
https://www.malaymail.com/news/eat/drink/2021/03/30/how-these-malaysian-farmers-grew-the-worlds-most-expensive-melons...-in-put/1962246

Am impressed by its Penang reclamation projects....so what the rush to sell at less than the fair value?

Why they don't follow the example of MyEG"s directors to buy?

Action is what counts! A big Thank You to Mr Wong and Dato' Dr Norraesah for setting good examples!!

@AlfI3 You're welcome. I believe smart farming is the right way to go and the company seems to have assembled a team, so I participated :) Suddenly, the Chin KF shock came. Yes, I am relieved he is NOT Director of ANNUM.

Also, from NST: "Nadia granted bail at RM3,500 and fixed March 21 for case mention." If it is a serious crime, then isn't 3500 too small a bail? It also did not mention surety or have to hand over passport.

星洲：“陈国锋也是2家公共有限公司(PLC)的董事或股东，即ARB有限公司和Annum有限公司”

根据Annum2021年报他不是董事，是股东，有4.7%。

Will be nicer if we can know soon for ppl to make judgement . Can help us in decision making. But if you prefer to wait, I am ok with it. Good luck and huat chai!

@Ivanlau Am very interested to know how you calculate the fair value of e&o. Can share your calculation?

hi jt18, I checked my record, sold some at over 17sen, cost was about 12 sen. Am still keeping some because i like to have some of my counters in agriculture.

So, I think Annum will recover from the shock

And he ceased as Substantial Shareholder as of March 2022: https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3245425

Is the low price now due to the recent news that Chin KF was charged? The news said Director/Shareholder.....
I checked the latest AR 2021, he not director but had 4.7% shares
2. AFFIN HWANG NOMINEES (TEMPATAN) SDN. BHD. (197801004114)
PLEDGED SECURITIES ACCOUNT FOR CHIN KOK FOONG 4,600,000 4.7179%

Oversubscribed, so Annum can do the smart farming as proposed.... waiting for its success. I supported it cos it's green technology, nothing to do with Shareholder Chin KF

Hey, isn't Hua Yang greatly undervalued??
400 acres of landbank with GDV of 5.2B. From AR 2022, the book value of the land bank is more than 400mil. Number of shares is only 440million! What is wrong??

I think so too...the sale must have been planned earlier. It is still keeping 20%. What if it realises that it needed more fund to develop NIISe, and TASS came forward but wanted 80%?
And if IITS got the contract in an unclean way, some ppl will be convicted, but not IRIS itself, right? IRIS can handle production of ID and have contracts eg Senegal RM80mil and Tanzania RM 167.6mil. So will IRIS recover?

@Jacktan5050 he is shareholder, not director of ANNUM

Why this counter so quiet despite buy call from RhbInvest and TP RM 1.7+?
https://klse.i3investor.com/web/blog/detail/rhbinvest/2023-01-18-story-h-300942599-KKB_Engineering_a_Mightier_Year_Ahead_Maintain_BUY

@hellohellohellohello, well said! But i think "NIISe is sick project" did not come from Anwar's mouth, but an unnamed source as reported in Malaysia Today
https://www.malaysia-today.net/2023/02/08/macc-probing-possible-abuse-of-power-in-contract-for-ex-pms-son-in-law/

Just wondering: why IRIS is selling 80% and keeping 20% of IITS? Why not it sells 100%?

If the announcement is true with no plan to cheat us bilis, then possible. This one I think is doing real business.

Anyone attending EGM? Can ask why not plant more durians, say make it 200 acres of durian, in addition to oil palm?

Does it even make sense for JPJ, or individual Department/Ministry to have a Big computer/IT team to handle their platform?? Can't hire a few ppl and expect the platform to work well. Need a team of ppl with various expertise. Think it makes more sense to out-source such projects to specialized companies such as Myeg!!

hi @BLee, Thanks for your reply. I don't know proper accounting way, so i just hantam, haha: 80% of (6mil+NAV 37.5+Advances 33.4)=0.8*76.9=61.5mil, so profit 70-61.5=8.5mil?

@BLee, Just wondering how the figure gain 7.22 mil comes about. Is it possible to get this number out of the other figures in the announcement?

@Abba84 Thanks for sharing your personal experience. I don't know IRIS in details, but from googling around, it looks quite impressive for me, at least considering its beginning.
https://www.theedgemarkets.com/article/ey-world-entrepreneur-year-ey-helps-entrepreneurs-take-leap-world-stage

Group finance Mr H'ng did the calculations, and....

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3326966
Hope all is well!

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3326966
Hope all is well....if not many of us will be hit!

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3326966
Hope all is well!

Directors go, but company stay?