Posted by goodiewilly > 2020-11-02 23:56 | Report Abuse

https://www.klsescreener.com/v2/announcements/view/3255151

Posted by skyrider > 2020-11-03 00:55 | Report Abuse

If all the PA are to be converted to common share on one PA to one common share basis, then will produce the following outcomes:

1) there will be about 10 times more Ageson shares
2) eps will be reduced by about 10 times
3) pe will need to be multiplied by about 10

Premises on this, 12 sen is not really cheap as it seems, notwithstanding future earning of the sand export.

Posted by alexchia569 > 2020-11-04 09:07 | Report Abuse

https://www.theedgemarkets.com/article/ageson-expects-its-strong-earnings-momentum-continue-fy21

Posted by alexchia569 > 2020-11-04 09:52 | Report Abuse

https://www.nst.com.my/business/2020/11/637790/ageson-aims-higher-earnings-fy21

Posted by scrown > 2020-11-04 10:13 | Report Abuse

Very good plan from Chin promised

Posted by BLee > 2020-11-04 13:30 | Report Abuse

@skyrider, thanks for highlighting the effect of Ages-P conversion to mother shares.

I have done a search, and found the correct conversion T&C at KLSE Screener.

Skyrider: "If all the PA are to be converted to common share on one PA to one common share basis, then will produce the following outcomes:

1) there will be about 10 times more Ageson shares
BLee: By surrendering 13 ICPS to be converted into 1 new Ageson Share; the most number of shares conversion shall be (3,860,754,392+750,000,000)/13 = 354,673,415 shares.
354,673,415/919,000,000=0.386
This will be roughly 0.386 times.

Rights-ICPS: 3,860,754,392 ICPS shares.
Allocation: 750,000,000 ICPS shares to Daya Intelek Usahasama Sdn Bhd
Ageson shares as at today: 919,000,000 shares.

2) eps will be reduced by about 10 times
BLee: No comment. Reduce by 1.386 times?

3) pe will need to be multiplied by about 10
BLee: No comment. Multiplied by 1.386 times?

Premises on this, 12 sen is not really cheap as it seems, notwithstanding future earning of the sand export.
BLee: Conversion of 13 AGES-P shares as at today's price of 0.03 into one Agesion shares is not feasible. Unlike warrants, this ICPS auto-convert upon maturity. Therefore, the dilution will happen in 10 years time.

03/11/2020 12:55 AM?"

Extract from KLSE Screener.
"Remarks :
The ICPS can be converted into new Ageson Shares at the conversion price of RM0.13 ("Conversion Price") in the following manner:

i. by surrendering 13 ICPS to be converted into 1 new Ageson Share; or

ii. a combination of such number of ICPS and cash with an aggregate value equal to the Conversion Price, subject to a minimum of 1 ICPS surrendered, and paying the difference between the aggregate value of the ICPS surrendered and the Conversion Price in cash for 1 new Ageson Share.

Premised on the terms of the ICPS, the ICPS can be converted into new Ageson Shares at any time within 10 years commencing on and including the date of issue of the ICPS up to and including the maturity date (as indicated above), as determined by the conversion ratio and Conversion Price. Any remaining ICPS that are not converted by the maturity date shall be automatically converted into new Ageson Shares at the conversion ratio of 13 ICPS for 1 new Ageson Share.

If the conversion results in a fractional entitlement to Ageson Shares, such fractional entitlement shall be disregarded and no refund or credit, whether in the form of the ICPS, cash or otherwise, shall be given in respect of the disregarded fractional entitlement.

If the maturity date of the ICPS falls on a non-market day, then it will fall on the preceding market day.


This announcement is dated 18 March 2020."

Happy Trading.

Disclaimer: The above opinion does not represent a buy or sell recommendation; just a personal opinion and for sharing purposes only. Any offences and errors are unintentional; my apology in advance.

Posted by andytfyap > 2020-11-05 11:54 | Report Abuse

Thanks to BLee for such impartial and detailed analysis.

Posted by BLee > 2020-11-05 12:25 | Report Abuse

@andytfyap, welcome. Will do more going thro' AR/RI/etc reports of companies from this WFH environment. Happy Trading.

Posted by fable > 2020-11-05 14:13 | Report Abuse

thanks for the analysis @BLee, solve some of my question in my head as well

Posted by BLee > 2020-11-05 15:43 | Report Abuse

@fable, welcome. I have read the latest Annual Report yesterday, it seems quite a high figure of AGES-P being converted to AGES shares. Some of the conversion was by surrendering 1ICPS Rm0.12 cash. Therefore, the number of shares issue by end of 10 years period could be higher. Below are extract from the report.

- ISSUES OF SHARES AND DEBENTURES

During the fnancial period, the issued and paid up share capital of the Company was increased from 376,552,771 ordinary shares to 844,100,839 ordinary shares by way of the issuance of 87,955,519 new ordinary shares for cash pursuant to the exercise of Warrants based on an exercise price of RM0.10 per ordinary share, issuance of 37,600,000 new ordinary shares by the proposed private placement, and issuance of 341,992,549 new ordinary shares for cash pursuant to the exercise of Irredeemable Convertible Preference Shares based on an conversion price of RM0.12 per ordinary share.

Warrants
During the fnancial year, a total of 87,955,519 (2019: 27,900,311) Warrants were exercised.
 
Irredeemable Convertible Preference Shares (“ICPS”)
On 19 March 2020, a total of 4,610,754,392 ICPS were issued pursuant to right issue and acquisition. As at 30 June 2020, a total of 341,992,549 ICPS were converted to ordinary shares.
The ICPS can be converted into new ordinary shares in the following manner:
i) By surrendering 13 ICPS to be converted into 1 new ordinary share.
ii) A combination of such number of ICPS and cash with an aggregate value equal to RM0.13 (being the conversion price of the ICPS), subject to a minimum of 1 ICPS surrendered and the conversion price of RM0.13 in cash for 1 new ordinary share.

- SHARE CAPITAL GROUP / COMPANY 2020
 
New share issued:
-Shares pursuant to conversion of warrants    New 87,955,519 AGES Shares
-Shares pursuant to private placement              New 37,600,000 AGES Shares
-Shares pursuant to conversion of
irredeemable convertible preference shares    New 341,992,549 AGES Shares
 At 30 June 2020                                                   Total 844,100,839 AGES Shares

- Dilute loss per share
The diluted loss per share is not presented in the fnancial statements as the effect of the assumed conversion of the Warrants 2014/2019 during the fnancial period is anti-dilutive.

- On 5 March 2020, the total valid acceptances and excess applications for the Proposed Rights Issue were 3,860,754,392 ICPS, which represents a subscription of 59.15% over the total number of 6,527,407,770 ICPS available for subscription and on 19 March 2020 3,860,754,392 ICPS issued pursuant to the Proposed Rights Issue and 750,000,000 ICPS issued pursuant to the Proposed Acquisition have been admitted to the Offcial List of the Bursa Malaysia Securities Berhad.

Please take note all this are raw figures, will this dilute the share values are debatable.

Happy Trading.

Posted by Hengoredi > 2020-11-05 21:12 | Report Abuse

I ran with no pain and no gain feeling.

Posted by Michael Kwok > 2020-11-06 14:05 |

Post removed.Why?

Posted by Michael Kwok > 2020-11-06 14:06 | Report Abuse

When I come sure got Ong.A must to buy.

Posted by onionchong > 2020-11-06 14:08 | Report Abuse

Yes this counter is severely undervalued.

Posted by fable > 2020-11-06 15:18 | Report Abuse

gogogo, support support

Posted by fable > 2020-11-06 15:23 | Report Abuse

yes, really cheap and currently undervalue af

Posted by unclekyyisbest > 2020-11-06 15:24 | Report Abuse

https://www.thestar.com.my/business/business-news/2020/11/04/ageson-expects-record-earnings

Posted by unclekyyisbest > 2020-11-06 15:24 | Report Abuse

KUALA LUMPUR: Ageson Bhd expects to generate another record-high profit for financial year ending June 30,2021 through its international export market, supported by its RM149mil construction order book.

The Bursa Malaysia main market-listed group said it would focus on its upcoming project in Batu Ferringhi, Penang for its property development business, which has a gross development value of RM178mil. — Bernama

Posted by unclekyyisbest > 2020-11-06 15:32 | Report Abuse

Sooner or later only.

Posted by unclekyyisbest > 2020-11-06 15:33 | Report Abuse

Not only pasir now come with construction order book.

Posted by fable > 2020-11-06 15:34 | Report Abuse

nice, looking forward for their QR for big profit coming in

Posted by unclekyyisbest > 2020-11-06 15:44 | Report Abuse

Penang is good place to continue develop. Value and Profit both will profit to Ageson

Posted by fable > 2020-11-06 16:03 | Report Abuse

big project, government and international jv coming soon

https://www.nst.com.my/property/2020/11/638158/ageson-launch-rm178-million-prins-bay-project-batu-ferringhi

Posted by Michael Kwok > 2020-11-07 15:36 |

Post removed.Why?

Posted by Oldmantc > 2020-11-08 20:01 | Report Abuse

Agreed... Been sleeping too long.

Posted by Winner8 > 2020-11-08 23:26 | Report Abuse

2moro up

Posted by stingray_ea > 2020-11-09 11:55 | Report Abuse

op

Posted by JuliusCeasar > 2020-11-10 15:04 | Report Abuse

Who knows What is the total AGES - PA currently?

Posted by superbullklse > 2020-11-10 19:07 | Report Abuse

AGES 只有3的PE!!

https://klse.i3investor.com/blogs/superbullklse/2020-11-10-story-h1535721947-Did_you_pay_your_bills.jsp

Posted by fable > 2020-11-11 14:54 | Report Abuse

very nice analyst, thanks for the video!

Posted by Michael Kwok > 2020-11-11 20:38 | Report Abuse

Let see if the profit can 1 quarter year end Jun 2021 can be better,then no way share price won't not up.

Posted by Michael Kwok > 2020-11-11 20:41 | Report Abuse

net 38 million profit year end June 2020 its company just worth 100 over million.Lol.

Posted by Winner8 > 2020-11-11 20:57 | Report Abuse

Price stagnant

Posted by Fishningen2 > 2020-11-11 21:40 | Report Abuse

Wow this company is undervalued

Posted by firehawk > 2020-11-12 10:47 | Report Abuse

PA still not rising .....

Posted by Michael Kwok > 2020-11-12 10:57 | Report Abuse

When I come,Ong will come.I put rm 20k 13.5 cents yesterday.38 million,Ageson worth rm 760 million or 80 cents a piece.But I use 50 percent discount should worth over 40 cents(best case scenario).This not include increase in profit from its all time high quarterly profit of 17 million and yearly 38 million.The 30 cents range( worst case scenario).

Posted by BLee > 2020-11-12 11:04 | Report Abuse

Thanks @superbullklse for covering Ageson, now start moving. AGES-PA will follow soon as the leverage = X/12 12sen= 1mother share, i.e. X= AGES-PA current price divided by 12 to make up minimum 1unit plus 12sen to convert into 1mother share.The other conversion of X multiply by 13 to convert to 1 mother share not practical at current price...please correct me if I am wrong.
Happy Trading.

Posted by Michael Kwok > 2020-11-12 11:05 | Report Abuse

Ageson had visible profit of 38 million.But just worth 100 over million.

Posted by frankml > 2020-11-12 11:18 | Report Abuse

:) https://www.isaham.my/stock/ages

Posted by frankml > 2020-11-12 11:23 | Report Abuse

Interesting, according to https://www.malaysiastock.biz/Stock-Chart.aspx?securitycode=7145&mode=D, Ageson just touched MACD=0...what means?

Posted by Lukesharewalker > 2020-11-12 12:08 | Report Abuse

Scenario bad for construction going forward

Posted by Fklim888 > 2020-11-12 13:54 | Report Abuse

Something brewing...

Posted by Winner8 > 2020-11-12 13:55 | Report Abuse

Going up very soon

Posted by Hein > 2020-11-12 14:35 | Report Abuse

Sand just arrive china, so price up mah,lol

Posted by joonyuenjeen > 2020-11-12 15:28 | Report Abuse

wonder is so undervalued why no funds interested? something not proper?

Posted by Michael Kwok > 2020-11-12 15:39 | Report Abuse

Just wait.Not all shares will be converted.There min and max.Never listen to some of the naysayer.Its really cheap.Usually will up till its reach certain prices and will range bound from there.

Posted by EZMONEY13 > 2020-11-12 15:57 | Report Abuse

Ya man this stock is so undervalued, why its like stagnant forever ?

Posted by alexchia569 > 2020-11-13 10:41 | Report Abuse

Time to buy.. Expecting better performance from the company with market finally valuing it right

Posted by BLee > 2020-11-13 14:09 | Report Abuse

@JuliusCeasar, the following are details extracted from AGES AR 2020, hope the sharing will enlighten you.

"ANALYSIS OF ICPS HOLDINGS
AS AT 6 OCTOBER 2020
Total number of Issued Shares : 4,193,521,843
Class of share : Irredeemable Convertible Preference Shares (“ICPS”)"

Total of AGES-PA issued = 3,860,754,392++750,000,000 = 4,610,754,392

Ratio of not converted AGES-PA = 4,193,521,843 ÷÷ 4,610,754,392 = 0.91

Below is the extracted gearing statement from the report:

"With shareholders equity at RM228.1 million and total bank borrowings at RM22.9 million, the Group’s gearing (total borrowings/
total equity) as at 30 June 2020 stood at 0.10, signifying a huge improvement from 0.34 as at 30 June 2019."

IMHO, the gearing ratio of 0.1 considers very low risk. What should be the fair shares price? At current shares price, IMHO, AGES-PA conversion will not affect the mother share pricing until mother share price reaches 0.24sen. (Leverage of 0.12sen of AGES-PA/12 plus 0.12sen=0.24sen for mother share price)

Please also refer to the link below for more information on AGES-PA conversion. https://klse.i3investor.com/servlets/forum/600320596.jsp

Happy Trading.


Disclaimer: The above opinion does not represent a buy or sell recommendation; just a personal opinion and for sharing purposes only. Any offences and errors are unintentional; my apology in advance.

Posted by IAN1277 > 2020-11-14 09:20 | Report Abuse

From my understanding, there are 2 methods to convert PA to Ageson:
1)use 13 unit PA to 1 mother share
2)use 1 unit PA plus 12cents cash