Some Highlights from attaining the online AGM this morning that I capture:
1. Semi-conductor sector: Although TSMC is the largest customer, about 30% of revenue in the sector, Company actually has more than 50 customers in the sector, and some of them may become more significant in future. So business is not as reliant on a single customers as many have thought.
2. Risk of losing key customer(s): Maturing new chips from conception to production stage is a prolonged process and takes up to two years. Our customers have involved us from the early stages and so it is not possible to be dropped out at the production stage. For a client to switch service provider, it would take a minimum of 8 months to more than 1 year and there is not certainty if the new service provider can deliver meaning that once we are engaged upfront, we are with them in the production stage.
3. Company has been improving on profit margin over the past years. There are still rooms for improving the current PBT of some 30 -35 % by further improving efficiencies and reducing wastage. Company has never cease and is always looking into and incorporating more efficient process and through higher automation.
4. Semi-conductor service sector is expected to see strong growth in the next 3 to 5 years, may be even longer. Oil and gas sector saw improvement in 2020 and getting better in 2021.
5. In Taiwan, Company has already acquired ready-built new factory spaces for capacity expansion which will more than double the existing production area. This is a cheaper option and is ready for use compare to land acquisition and construction. However, Company is also looking at own land acquisition for longer term expansion.
6. Company does not see any limitation in its capacity to meet the increasing customer demand in the near term or in the foreseeable future. Company is actively planning to set up factory space in the USA. However for China, there is no plan yet to set up factory space there as it can be served from Taiwan.
7. Increasing and maintaining talent resource pool is a key management focus. Increase automation helps in some cost reduction but it is not a solution for everything.
8. Current draught in Taiwan is not an issue. It has no impact on the Company operation todate and in future. Company has been able to reduce water consumption over the past years due to recycling.
9. Covic-19 has not impact the Company operation to-date. Company is very vigilant and careful on all aspects of health and safety that impact employees and customers.
10. Company is seeing multi years of business growth. Major shareholder is definitely not cashing out on Frontkn shares. Continuously working on business and profit growth and is every positive achieving new highs for many years ahead.

The actual closing share price on 26.04.21 was RM 5.12 before x on 27.04.2021
1 for 2 Bonus (5.12+5.12)/ (2+1 bonus share) = RM 3.41.
Bursa had pre-set a theoretical opening price at RM3.56 before trade commenced at 9 a.m. 27.04.2021.
Market, however, ignored this calculated theoretical price as there would be no conversion in the short to medium term. Following is how RM3.56 was calculated:

(5.12+5.12+4.0)/(2 + 1 Bonus share + 1 converted free warrant to mother share at RM4.0) = RM3.56

The warrants would not be exercised due to the high exercise price (RM4.0) set and the high premium for exercising the conversion to mother shares. Therefore there would not be share dilution due to conversion in the foreseeable future. Any conversion would likely happen towards the end of the 5-year maturity period 03.05.2026.

There should not be price adjustment for the free bonus warrant which has an exercise price of RM4.0, significantly higher than the pre X-date closing price of RM3.41 on 26.04.2021. However, the downward price adjustment since then could be due to
1) more cautious market sentiment on technology stocks following the strong run up in the past 1 year.
2) possibility of profit taking by insiders and people acting on their behalf who had bought FrontKn shares a couple of months before announcement of Bonus issues.

Yahoo finance had adjusted the historical prices before X-date of the bonus issue (stock split). This is the correct way to look at the historical prices. Otherwise it would be very misleading.

World semi-conductor sector is expected to see strong growth over at least the next 3 to 5 years due to 5G, IR 4.0, IOT, digitisation in numerous fronts....
At RM2.79, the annualiased PE = 48.
Market is forward looking into future earning. At projected growth of 35% per annum, at the current price RM2.79, the projected forward PE at end 2022 would only about 26.
Project PE end 2022 = 48/(1.35 x 1.35) = 26.3.

MR. The Market:
FRONTKN 1:2 Bonus X-date was on 27.04.2021. Closing price on 26.04.2021 was RM5.12. Adjusted price based on 26.04.2021 closing price would be (RM5.12+RM5.12)/(2+1) = RM3.41.
On 27.04.2021, share price opened at RM3.28 and closed at RM3.37; share was traded between day high RM 3.45 and day low RM3.25. Base on 12.05.21 closing at RM 2.79, share price had declined by about 18% from pre-x price of RM3.41. Regards.

Company only sold 305,900 treasury shares out of total 5,466,600 treasury shares. Average cost of treasury shares, bought before 2017, was about RM 0.2.
1) This is a good for raising money from the market without increasing no. of shares.
2) I don't think treasury shares would be entitled to Bonus issues. So it would have been better if Company sold all the traesury shares before Bonus x date.

(1) The PA (ICPS) offered for subscription by shareholders about 1 year ago was 13 PA at 1 cent per ordinary shares . About 3860 mln PA were subscribed by shareholders which gave Company RM38.61m.
(2) Another 750 mln PA (ICPS) were issued to Daya Intelek Usahasama Sdn Bhd at only 1 cent per PA which gives RM7.5 mln as part payment for a parcel of development land measuring 7,395 square metres identified as Lot No. PT 129 held under Title No. H.S.(D) 18991, Section 1, Town of Batu Ferringi, District of Timor Laut, Pulau Pinang for total consideration.

Abovementioned issuance of 3861m+750m totalled 4611mln PA (ICPS).

Todate (26.02.2021) about 679m PA had been converted to ordinary shares. Outstanding PA which remained to be converted is about 3983m.

Can you or do you still trust a management which keep on issuing financial reports that appear to be not reflect the actual performance of the company ?

It looks like AGES under the new management is really very hungry for more public money.
1) In the last 12 months, they issued 4611m PA at 1 cent per PA which is worth about RM46m
2) Todate (26.02.2021) about 679m PA have been converted to ordinary shares. At conversion of 1 PA+12 cents, it would have given the Company another RM81m bringing the share holder money raised from the PA issued and partial conversion todate to RM127m. The ordinary shares had increased from some 450m shares to about 1129m shares as at 26.02.2021. All this happened within the last 12 months.

In the last 6 finanicial quarters (1.5 years) , the new managment had reported making a total net profit of RM72.3m. So the profit ( were they real profit ??) plus the money raised from PA alone would be about RM199m . In fact more money were raised from 10% private placement of shares. All these happened within the short duration of the past 1.5 years.

Questions:
1) Has the Company been making profit at all in the past 1.5 years? From the financial reports, the non recoverable intangible assets had ballooned up by RM73.2m from RM8.3m (as at 30 June 2019) to 81.5m (as at 31 Dec 2020). This effectively showed that company had lost RM73.2m of tangible assets over the period.
2) As the Company had already raised and earned so much money in the past 1.5 yaers, why is it proposing to raised more money?
3) Where had the money raised and earned gone to ?

Please see my earlier comments on AGES FY 2020 report. Extract below
" A major RED FLAG spotted in FY2020 Report is that the intangible assets (commonly known as "Good Will") had increased by a huge sum of RM32.7mln to RM40.96mln from only RM8.26mln in the previous year. I think the RM32.7m increase in intangible asset should be more correctly classified as actual financial Losses incurred and not parked into a non recoverable "Goodwill" as a Company intangible asset.
On Pages 71 &72 of FY2020 Report, the Company gave a vague 'gross-over ' explanation in Note 7 was made on the transfer of RM32.7m non recoverable assets into Goodwill on Consolidation.
Goodwill on consolidation in FY2020 (ending 30 June 2020)
At beginning of FY2020, it was RM8,260,819 and at end of the FY2020 (30June2020), it was 40,964,222."

In the latest Q2 2021 financial report, for the last 6 months (30 June to 31 Dec 2020), the Non Recoverable Assets had further ballooned up from 41m (as at 30June 2020) to 81.5m(as at 31 Dec 2020

It looks like the Management keep on creating more "paper profit" by classifying losses into non recoverable intangible assets !!

Dato L is really good in creative accounting !

For simplicity, many business owner would say they have suffered operation losses of 28 mln,. This still does not include the huge write down of asset losses of 40.5m into unrecoverable GOODWILL.

My reading and understanding of the 6 months ending 31.12.2020. Very questionable reporting of profit. More like there are a lot of actual losses suffered, losses of around 40.5 in assets.
Page 2:
(1) Intangible assets (commonly called "Good Will" which is non recoverable and will have to be written off in future years) has increased by an huge 40.5m (from 41m to 81.5m ). That is to say that the Company had suffered 40.5m loss in assets but classified that amount as GOODWILL.
other RED lights include:
(2) Trade receivables increased by 14.7m (from 53.7m to 68.4m)
(3) Other receivables amounted to a 80.9m which remained the same as at 30.06.2020, end of FY2020. Why are such huge amount amount of receivables remained totally unpaid for after another 6 months since 30.06.2020 ? Are they recoverable at all ?

Page 4:
Operating profit before working capital changes amounted to -28.37m.
I think many many if not most business owners regard operating profit as a better reflection of whether the Company is making money or not.

The Company hardly have made any taxable income in the last 6 quarters under the new management took over. To me, this is a clear indication that the profits reported were profits on paper but not real profit that are taxable.

Recall AGES announcement on 4th Sept 2020, "The Board of Directors of Ageson wishes to announce that on 3 September 2020, the Company was served with a sealed Writ and Statement of Claim both dated 28 August 2020 as the second defendant (“2nd Defendant”) and to Ageson Development Sdn Bhd (“ADSB”), the wholly-owned subsidiary of the Company, as the first defendant (“1st Defendant”), by RHB Bank Berhad (“Plaintiff”) through its solicitors, Messrs. Shook Lin & Bok....

It is unusual for a Bank to sue its client to demand for an immediate and full repayment of outstanding loan due to the Bank.

I think a bank could do that if it has serious doubt about the financial health of the company.

I bought and held Megan Berhad shares for 2 years when the Company showed many years of reporting very impressive financial results with improving revenues and net profits. PE was very low and share price was stagnant around RM2.0 despite the impressive results.
Then all of a sudden, it reported huge losses and share price dropped like a stone. Company had difficulty servicing bank loan.
At least in this case, someone was held accountable, and some justice pronounced after more than 10 years.
The real culprit behind was not the chairman who went to jail. Obviously, the accountant and auditor had also kept his eyes shut to what the Singaporean owner wanted them to report. The Singapore who founded the company literally stripped the Company of share holders money by RM150-200m when business was not doing well remained unpunished.

Ex-Megan Media chairman gets 18 months’ jail for giving false information to Bursa
Supriya Surendran, The Edge Financial Daily,May 18, 2017
Extract "The former executive chairman of now-delisted Megan Media Holdings Bhd, Datuk Dr Mohd Adam Che Harun, has been sentenced to 18 months’ jail for having furnished false information about the group’s revenue to Bursa Malaysia.
The 73-year-old has also been fined RM300,000 in default for one year’s imprisonment, the Securities Commission Malaysia (SC) said in a statement yesterday.
The false revenue figure he provided was for the sum of about RM306 million, pertained to the group’s quarterly results for the financial period ended Jan 31, 2007."

"ACCOUNTING MISSTATEMENTS AND MONITORING
MECHANISMS: A LITERATURE REVIEW" BY Alfiatul Hussain & others

Quote from abstract of above paper " In Malaysia, although the scale is small compared to the other global cases, the corporate landscape is scattered with several bad accounting scandals (i.e. Transmile, Megan Media, Nasioncom, Wimems, Welli Multi and MEMs Technology)"

1MDB changed auditors twice but the second and third auditors, who are probably chosen because market infor search indicated that they could be a lot more "flexible". We all know even the subsequently auditors had chosen to resign because they could not go along with what 1MDB management wanted them to do. If they do, they might end up damaging their business reputation.

When a company wants an auditor who is "more flexible towards client's wishes on financial statement" they will look for one and engage them.
NGrant Thornton Malaysia (AF 0737) was a new auditor engaged by AGES but they choose to resign as its auditor with immediate effect from 6 August 2020, 22 days prior to the Company FY2020 Q4 financial results announcement.

On Pages 71 &72 of FY2020 Report, a rather vague"gross-over" explanation in Note 7 was made on the transfer of RM32.7m non recoverable assets into "Goodwill".
Goodwill on consolidation
At beginning of financial year was RM8,260,819 and at end of the financial year was 40,964,222
(a) The goodwill on consolidation arose from the acquisition of the following subsidiaries:
(i) Solidvest Properties Sdn. Bhd.
(ii) Ageson System Sdn. Bhd.
(iii) Ageson BIM Sdn. Bhd.

Ageson Bhd was formerly known as Prinsiptek Corp Bhd (essentially it is a change of company name) operates as an investment holding company. All the above subsidiaries were part and parcel of Prinsiptek Corp Bhd and therefore part and parcel of AGES Bhd upon change of Company name. Its principal activities are mainly construction and property development. It involves in building and construction activities. The company's segments include Construction, which is engaged in construction works; Property Development, which is engaged in the development of residential and commercial properties, and Trading and others, which is engaged in the trading in building materials, provision of project management and secretarial services and investment holding.
1. Is it correct to classify non recoverable assets, which are effectively real losses suffered by subsidiaries, into "Goodwill" as an intangible asset?
2. Is it market brand name or patents of those concerned subsidiaries which were former subsidiaries of Prinsiptek Corp Bhd ? Why then change their names to "AGES" if it is the brand name that is worthy as an intangible asset ?

AGES did not have to pay any income tax, nor made any provision for income taxes in FY2020; in fact for 5 quarters consecutively. How can that be ?

Over the years, I have known that when an appointed financial auditor resign from a Company , it also means that auditor have spotted many questionable accounting items which the Company concerned could not explain and refused to put in the correct reporting. The auditor therefore choose to resign.

The example which most Malaysia know is auditors for 1MDB.....

The single most important thing about bout a listed Company is integrity and trustworthiness of its management. After reading aisahbintimohdliew.blogspot.com and AGES financial reports, and looking back at all the business deals announcements made by the Company in the past 2 years as well as how they had turned out so far, I felt " betrayed ".

google search under
aisahbintimohdliew.blogspot.com
to read aisahbintimohdliew 's article on AGES

aisahbintimohdliew provides an objective, factual analysis of AGES financial report. It raises many disturbing points on the financial statements.

Results of FY2020 was very impressive with net profit of 37.5m which was the same as the PBT with zero taxation. In fact AGES had not made provision for any taxation in the past five quarters, How wonderful ! Are they real profits or are they just accounting profits on paper ?

One major RED FLAG spotted in FY2020 Report is that the intangible assets (commonly known as "Good Will") had increased by a huge sum of RM32.7mln to RM40.96mln from only RM8.26mln in the previous year. I think the RM32.7m increase in intangible asset should be more correctly classified as actual Losses incurred and not parked into a non recoverable "Goodwill" as a Company intangible asset.

Other RED FLAGS include:
1. Grant Thornton Malaysia (AF 0737) resigned as Auditors of the Company with immediate effect from 6 August 2020, 22 days prior to the Company FY2020 Q4 announcement. Grant Thornton was first appointed as Auditor during AGM on 25 Nov 2019. Company appointed a new audit firm in May 2020 but the new auditor also resigned in mid August 2020. Did they, as financial auditor, found something they could not go along with what their client wanted to report?
2. Mr. KEE YONG CHIN, AGES newly appointed CEO on 30 April 2020 resigned abruptly on 31 Dec 2020 after only 8 months. Did he found or smell something which he could not work with if he stays on as CEO?
3. AGES ma announcements on many very large "business deals" with overseas customers on sand exports even though the Company does not have a sand export licence. All of them were just MOUs and have not progressed into real Contracts so far. It is just amazing that a listed company appeared to be not following the needed due process and procedures. For example, the Company should have sought shareholders approval first (shareholders approval was only obtained in an EGM in Dec 2020) before entering into major sand mining and export businesses dealings with overseas customers. The major risks are damage of reputation and confidence when the necessary approvals from authorities and or shareholders were not obtained.
16/02/2021 8:11 PM

icst1975 To start with, I wish all AGES investors will make good profit from their investment in AGES. I believe and hope that AGES share price should not drop below 0.13 because this is the exercising price for about 4600 million PA, of which 4000 million are still to be converted (latest by 10 March 2030). With six apparently very good and improving quarterly results, many huge sand deals, JV's , the market has somehow missed out in pricing this "gem" at such a great discount. That was what I believed and invested into the counter. However, the declining and stagnant price at 0.13 prompted me to look deeper for answer. It is often said that the market has already priced in all the factors both positives and negatives. It came as a rude shock to me after I read a blogspot article on AGES financial reporting by aisahbintimohdliew. I think it is relevant for AGES investors to know about it. They can then make their own conclusion and actions.

Shouldn't be below 0.13. PA exercised at 0.13.

https://malaysiastock.biz/Company-Announcement.aspx?id=1232181

AGES joint venture partner BDSB (operating partners TJSB and MESSB) have AP's

AGES can also source require sands from other countries by forming JV's.
https://www.worldatlas.com/articles/top-20-sand-exporting-countries.html

One main source of sands for export would likely be MESSB of Sabah.

"Government issues 11 APs for river sand exports
Lai Ying Yi/theedgemarkets.com June 26, 2020

Ageson formed a 70-30 joint venture with Bintang Dayang Sdn Bhd (BDSB), which has sand operation business partners, namely Tagas Juta Sdn Bhd (TJSB) and Malayan Energistik Solutions Sdn Bhd (MESSB).

TJSB is a holder of a sand concession licence from Sabah with validity until December 2021. It undertakes sand dredging activities from the river at Sungai Labuk, Beluran in Sabah for sand export to China, Hong Kong, Macau and Taiwan.

As for MESSB, it had received the special approval from the Chief Minister's Department of Sabah to allow for annual export of 10 million cubic metres of sand in three years, even without an AP from the federal government, if the sand is exported to Hong Kong, China, Taiwan and Macau."

For more details, please read from following link.

https://www.theedgemarkets.com/article/government-issues-11-aps-river-sand-exports

hcthey: Market value of a company is influenced by many factors including market sentiment, company fundamentals including financial health, future earning growth, dividend yield, past performances,etc.
Personally, I rank strong financial health and certainty of good future earning growth as two of the most important factors for increasing the market value of a company.

Despite COVIC-19, AGES has increasing profits for the last 6 quarters (current year quarter versus corresponding previous year quarter.

Financially it appears strong as its short term assets (RM174m) exceeds its short term liabilities (RM82m) and it does not have long term liabilities (zero long term debts).

In terms of growth, the Company has obtained share holders approval to add sand mining and trading as one of its main businesses on top of its existing ones.

Before you make your decision to invest or to divest AGES shares, I recommend that you should first read and understand for yourself the opportunities and risks.

1. "CIRCULAR TO SHAREHOLDERS IN RELATION TO THE PROPOSED DIVERSIFICATION OF THE BUSINESS OF AGESON BERHAD AND ITS SUBSIDIARIES TO INCLUDE SAND MINING, TRADING AND EXPORT OF SAND, AND RELATED BUSINESS ACTIVITIES" which can be found at
https://malaysiastock.biz/Company-Announcement.aspx?id=1274550
This document to share holders contains a wealth of important information about the Company new future businesses and existing status.

2. AGES annual report 2019

Each PA is RM0.01 in company financial statement.

Conversion of 4.6bln PA to ordinary shares at RM0.13 per share:
4,600,000,000 x RM0.12 = RM550 mln

Current share price at RM 0.13 may be considered as equivalent to "IPO" share price . This is because
(1) Conversion from PA to ordinary share is at RM 0.13.
(2) The number of ordinary shares was 502 mln (net tangible asset was RM0.61 per share as at 31. March 2020) before first PA conversion on 4 May 2020. If all outstanding PA are converted by 10 March 2030 (about 9.5 years from now), the ordinary shares would increase to about 5.1 billion. About 4.6 billion ordinary shares would have been subscribed at RM0.13 per share.
(3) Earnings are expected to grow substantially with new businesses. It would be very unlikely to have market share price falling below the equivalent of "IPO subscription price" at RM0.13 per share.

Above is why I think RM0.13 is the bottom price.

The remaining outstanding PA is 4.1 billion. At above rate of conversion it would take about another 5.5 years to convert all the PA to mother shares. Company could receive another RM492 mln from the conversion. This is about RM89.45 mln per year of cash injection by share holders into the Company via PA conversion to ordinary shares at 12 cents + 1 PA.
The Company would have plenty of share holder funds for business expansion.

Click "11-Dec-2020 Additional Listing Conversion of Preference Shares - 17,000,000 shares at 0.130." under Market Buzz above and you can see the conversions from PA to mother shares.
Since first PA conversion announcement dated 4 May 2020 until latest announcement of conversion on 11 Dec 2020, the conversion totalled 500,932,549 ordinary shares.

As at 30.09.2020, net asset per share is RM 0.26. At current share price of RM 0.13, PE is about 3.0. Company expects next financial year ending 30.06.2021 results to be significantly better than 30.06.2020 with major contribution from sand business which commences in Dec 2020.
Each new ordinary share from conversion of PA is at RM 0.13. It is unreasonable to expect AGES share price to drop below RM 0.13 for any prolong period. When more and more PA's are gradually converted to mother shares over the next 9.5 years, the company will be flushed with cheap share capitals to expand its businesses.
My view is RM 0.13 is the bottom share price by reason of conversion at RM 0.13 plus the new businesses they are going into.

EF, sorry that you had lost so much $$ on GENM in 2018

Reference to Your comments Nov 29, 2018 on GENM

Stock: [GENM]: GENTING MALAYSIA BHD

Nov 29, 2018 12:21 PM | Report Abuse

MY STORY AT GENM

Invested = RM 5,000,000
Total Profit made = RM 8,000,000

Total Loss made = RM 20,000,000
Borrowed = RM 3,000,000

Total Debt = RM 10,000,000

I AM SO DEAD..."

@ daddy999 what ha0pen when s5 get 12500000unt of rm1.2 shares. wil they keep it inside pocket tight or dump at least half of it?

I think S5 probably had asked for a portion of the payment in shares as a long term investment. MYEG could easily have paid the deal fully in cash. MYEG has been buying back its shares from the market for more than 10 years.

https://malaysiastock.biz/Company-Announcement.aspx?id=1240760
MYEG cancelled 12.5 million treasury shares on 3 July 2020. So total issued shares reduced by 12.5m which improves the EPS by a little bit. Only very cash rich company do this.

An example of genuine news reported by STAR . You can only read the title but not the text unless you are a subscriber.

https://www.thestar.com.my/business/business-news/2020/07/01/myeg-secures-rm208mil-immigration-services-contract-extension

Many GP news circulated in this forum appeared as news advertisements in STAR but there were no official announcement to Bursa Malaysia. .

Reference to IvakaWong: " Previous contract for PLKS around RM 250 mil per year, new contract is only RM 208 mil for three years? That is around rm 70 mil revenue only for one year. The revenue will reduce by Rm 180 mil a year? If 40% margin , PAT will reduce by RM 72 mil a year?
May be there is typo error in the announcement? Should be RM 208 mil a year?"

My estimations as follows.
Only about 20% of MYEG annual revenue comes from government concession-related businesses service fees paid by government or more specifically, the online renewal of road tax, foreign workers’ work permit renewal and their rehiring programme.

Over the past 2 years, MYEG total revenue were about RM240 m per year. So government concession-related businesses service fees paid by government would amount to about RM48m per year.

So RM208m for 3 yrs is about RM69m per year for immigration related fees. This represents a substantial increase from RM48m per year from Immigration department and Road transport department. This is good news.

https://malaysiastock.biz/Company-Announcement.aspx?id=1240101

3-yr extension for Immigration related services is good. It is quite possible that MYEG's e-government services and other ancillary business in the Philippines and Indonesia, with combine population of 250m ( 8 times of Malaysia's), could have grown to be greater than that the revenue and profit from Malaysia

Some of MYEG services, taken from https://www.myeg.com.my/news

PRIHATIN SCREENING PROGRAMME
Posted date 2 June 2020
Employers who wish to streamline the screening process are invited to register on our website here. We will arrange for COVID-19 screening to be conducted by trained medical practitioners at the employers’ premises...

MYDATA-SSM SEARCH THROUGH MYEG
Posted date 9 January 2020

NEW SECTOR FOR PL(KS) RENEWAL
Posted date 7 October 2019
Now you can renew your foreign worker PL(KS) permit under Mining and Quarrying sector online through MYEG.

DBKL LICENSE RENEWAL
Now you can renew your DBKL Premise License, Composite License and Premise Signboard License with MYEG. Click here.

ZAKAT ON INCOME SALARY DEDUCTION SYSTEM THROUGH MYEG PORTAL

PERMANENT OWNERSHIP TRANSFER
Facilitates comprehensive and speedy online transfer of vehicle (Car) ownership from selling party directly to eventual buyer. Click here.

MyAssist Promotion
Buy insurance via MYEG and get MyAssist towing service free. View Promo

Zakat Promotion
Get latest promotion from zakat by paying zakat through MYEG e-Services View Promo

Auto Insurance Cash Back
Get rewarded with cash back on your auto insurance premium! View Promo

How is Sinotop going to make money ? Gov't is not paying any contract fee. Since last election which booted out a corrupted dynasty, I believe there would be no more big money handing out projects. It would be politically untenable.

Take an example. Similar commercial flight services flying the same routes, AirAsia can earn a lot of profit from low fare tickets, but MAS made huge losses on normal fares year after year, requiring injection of multi billion ringgit tax-payer 's money to keep afloat.

Profit comes from good business models, innovativeness, good management, competitive work culture....... Handout will never work in the long run.
01/07/2020 1:08 PM

MyEG generates 20% of its revenue from government concession-related businesses or, more specifically, the online renewal of road tax, foreign workers’ work permit renewal and their rehiring programme. MyEG does not charge the government a service fee, it is the users who pay the service fees.

The remaining 80% comes from ancillary and commercial services, such as online auto insurance renewal, foreign worker insurance renewal and job placement services.
01/07/2020 12:18 PM

EDINVESTOR Sinotop up why? Because they are grab government contracts from myeg.....
01/07/2020 9:40 AM

After peaking at 0.765 on 9 June 20, SINOTOP has been on the down trend , breaking 20-day average on 26 June.

https://malaysiastock.biz/Company-Announcement.aspx?id=1239623
30/06/2020 8:01 PM

“董事会目前致力于从政府寻求延续《 JPJ协议》。”

我的解释是电子服务合同的延期已经得到保证。

原因：

1）政府尚未提前宣布任何更换。如果有的话，它必须至少提前两年启动。电子平台和电子服务门户需要花费大量时间和投资来设计，构建，安装和测试以便成为更好的替代系统。
2）MyEG不向政府收取任何服务费。使用电子服务门户网站的公众需要支付少量费用使用。
实际上，用户可以节省时间和费用。
3）出于上述明显原因，没有其他公司宣布已经或正在这样做。

我认为政府可以要求扩展 MYEG e-government 中新的功能。

MYEG之所以能够成功地扩展与政府相关的各种电子服务，包括在菲律宾和印度尼西亚的税收，主要是因为
1）他们已经拥有一套系统和一种已经证明成功的商业模式，在马来西亚证明运作良好。所需要的只是进行修改以适应本地要求并与本地公司合作。
2）它是政府和人民提供的免费电子服务。用户只是在为便利付费，并节省了在其各个政府机构亲自进行操作的成本和时间。

关于菲律宾，印度尼西亚和随后孟加拉国的商业运营盈利能力，只有越来越多的人了解并学会使用其电子政务服务才能带来更多的利润。

毫无疑问，数字化无疑是未来的生活方式。
01/07/2020 7:23 AM

Jun 30, 2020 1:28 PM | Report Abuse

amateurJR @ckt1818 You dun understand much about tech.You need to learn more about tech. I worked in e-payment banking service field for yrs. GHL has came out with school project installation since 2018 and not much revenue generated from school project......

Agree. Projects in partnership with schools and universities are usually "good will projects"
at little profit or even for free.

In the long run, it may yield indirect benefit through students who come to know about the products/ services and your company.
30/06/2020 1:28 PM