Posted by Philan008 > 2021-02-17 11:44 | Report Abuse

When such a profitable company with such "good" financial is available below PE5.... it just shows that nobody wants a piece of it.... typically it is becz it is a scam company....

If Auditor resigned, and even previous "famous" CEO also resigned less than 1 year in.... why waste time on this counter still? Move on

Posted by BLee > 2021-02-17 11:52 | Report Abuse

@icst1975, thanks for sharing. IMHO, 1MDB case cannot be used as a case study for AGES as Prinsiptek Corp Berhad then and AGES now under different mgmt; usually new mgmt will think 'out of the box' to revitalize the business. I will not deliberate what the new mgmt has done as I am not privy to what concurred; I will wait for the results of their sand trading business (delayed due to pandemic?) and construction/development businesses in few states...Happy Trading

Posted by BLee > 2021-02-17 12:40 | Report Abuse

@Philan008, thanks for sharing. If border open and still no sand/silica trading business; and no construction/development in Perak/Kedah/Penang, then most probably a 'scam'. Otherwise, look c look c for the next few QR.

For info, as of 2nd Jan. 2021, min. 580,211,216 ICPS converted to mother share bringing in RM75,427,458 new capital to the company. If it is a 'scam', who will invest this RM75.4 million? Happy Trading

Posted by unclekyyisbest > 2021-02-17 13:49 | Report Abuse

https://www.theedgemarkets.com/article/ageson-forms-jv-kedah-investment-arm-venture-sand-mining

Posted by DreamKeeper > 2021-02-17 13:50 | Report Abuse

No movement at all

Posted by DreamKeeper > 2021-02-17 13:50 | Report Abuse

Lagi tidor juga kah

Posted by DreamKeeper > 2021-02-17 13:50 | Report Abuse

Still hibernating juga kah

Posted by DreamKeeper > 2021-02-17 13:51 | Report Abuse

What la

Posted by DreamKeeper > 2021-02-17 13:51 | Report Abuse

Apa daah

Posted by DreamKeeper > 2021-02-17 13:51 | Report Abuse

Don't know when going to move

Posted by DreamKeeper > 2021-02-17 13:51 | Report Abuse

No idea

Posted by DreamKeeper > 2021-02-17 13:52 | Report Abuse

No clue at all

Posted by unclekyyisbest > 2021-02-17 13:52 | Report Abuse

lol , is a scam then stated in news paper ? lol....

Posted by tankoksiong > 2021-02-17 13:57 | Report Abuse

The greatest investor of all time – Warren Buffett did not just earn his name by his wisdom in the world of investment, he also outperforms the market over years by one key characteristic – PATIENCE.



As I had shared since January on the true value of ARB BERHAD (KLSE:ARBB), Investors are getting somewhere around 50% - 60% return in just a month time. This is base on the conservative assumption of buying this company’s share at the price of 25.0 cents to 26.0 cents. Hope this Ang Pao satisfies all of you!



Now back to the main story. Based on my understanding, ARBB had always been an undervalued gem which is being manipulated by forum pundits, I believe there are a group of them who:



Spreading fear amongst investors via fake news.

Creating fake account(s) attempt to brainwash investors, fortunately everyone in the forum are smart enough to not fall for their tricks. I've attached several screenshots to reveal them.

Having a group of operators to create fake sell queue on ARBB, but lost lots of money during the rally as ARBB outperforms the market.

Failed to attack ARBB, and hence turn into another undervalued gem – AGESON BERHAD (KLSE:AGES)!

Posted by tankoksiong > 2021-02-17 13:58 | Report Abuse

Interestingly, this particular user “icst1975” had only commented in AGES since 12th December 2020, 10:54 A.M. And obviously you can see the writing style of this particular user is vastly different and there is a 3 months empty period in which he did not commented (he or she was previously active on MYEG, perhaps the account was being use by other user?). Suspiciously, he was also replying to himself. Perhaps a mistake in forgetting which tab your fake account was on?


You may review his comments over this link: https://klse.i3investor.com/servlets/cube/post/icst1975.jsp



As someone who loves to study deep onto company value and actually perform forensic studies, I believe I have my grounds to say that this particular “forum user” is one of the syndicate who failed to depress ARBB’s stock price, and now attempt to depress AGES’s stock price!

Posted by tankoksiong > 2021-02-17 13:58 | Report Abuse

However, being someone who truly understands accounting as well as fundamental analysis, I would like to point out some of the mistakes he made on his "factual statements".



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.

Wrong. Intangible asset could be intellectual rights such as branding power, patents, trademarks, copyrights and so forth. AGES had previous invested heavily into IBS system, which is a requirement by the government for construction company to utilize this system to enhance the speed in construction. I believe coupled with AGES’s growing brand name in the construction, property development as well as joint venture right with MBI Kedah, this “intangible asset” could be turn into real profit soon. No such thing as actual loss should be recorded in the books. Please do some homework first.



Other RED FLAGS include:
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?


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?



Interesting comments. Firstly, Grant Thornton has made a name for being having bad accounting treatment to construction companies (I.e. Strict treatment on trade receivables which is unfair to construction and property developer company, and bad amortization period). Try to look for other companies who are with Grant Thornton, are they in the construction sector or property sector? I assure you, they are extremely rare. So do you mean any other construction or property companies who are not using Grant Thornton as auditor is a fraud?

Posted by tankoksiong > 2021-02-17 13:58 | Report Abuse

Secondly, AGES is a rapidly turning around company. I would like to remind investors that the resignation period was amidst COVID-19, which lots of companies are having change of management to better handle the COVID-19 situation. If you are new to listed companies, one do not simply appoint a director without months of negotiations and due diligence, and Mr. Kee would not join if he finds the company fishy. I believe he had successfully led the company through COVID-19 and AGES had remained profitable within this period. His endeavour could not be missed in the success of AGES.



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.

Seriously, are you even following this company? *Sigh

https://www.theedgemarkets.com/article/ageson-forms-jv-kedah-investment-arm-venture-sand-mining



They even formed a JV to undertake the mining, supplying and exportation of silica sand to a Korea company who specialized in making glass products. You may seriously need to do some more homework.



So, Mr / Miss icst1975, if you said you loss tons of money by investing on AGES, had you cut your losses? Or are you still holding onto it? Perhaps you could show any screenshots as evidence that you actually lose money in this counter? How could others profit from this company? I eagerly await your amusing answers.



P/S: AGES would still hit 25.0 cents with or without intervene of this group of “sharks”. Let’s hold onto it!

Posted by unclekyyisbest > 2021-02-17 14:59 | Report Abuse

Next counter got rocket petroleum smell. hopefully Ages Sand and Stone got rocket smell also

Posted by fable > 2021-02-17 15:03 | Report Abuse

yes i can smell it coming too, gogo ages

Posted by fable > 2021-02-17 15:06 | Report Abuse

article with good facts and explaination instead of "someone else" statement

Posted by sting79 > 2021-02-17 15:24 | Report Abuse

BLee For info, as of 2nd Jan. 2021, min. 580,211,216 ICPS converted to mother share bringing in RM75,427,458 new capital to the company. If it is a 'scam', who will invest this RM75.4 million? Happy Trading

Had same thought too, but after reading further, it turns out that the conversion to mother can be done using the ICPS shares too without shelling out a single $. If you look at the list of conversion, there is one transaction with the price of $18,200. I think that is the only conversion using real cash, all the others are converted to mother using the ICPS shares. Means only $18,200 invested into the company via the ICPS conversion so far... correct me if I'm wrong ya

Posted by sting79 > 2021-02-17 15:27 | Report Abuse

But the good thing here is that those ICPS holders did fork out $0.13 per share to subscribe/convert. At least I believe the price will stay in the range of ~0.13 ish...

Posted by BLee > 2021-02-17 16:09 | Report Abuse

@sting79, yes on 2 method. Which ever method also result into increase in capital. That why I use minimum of ICPS conversion to cover both method..Happy Trading.

Posted by sting79 > 2021-02-17 16:20 | Report Abuse

@Blee, isn't the conversion using ICPS shares no capital injection involved? The capital injection happened during ICPS subscription, not during the ICPS conversion if using this method.

ICPS subscription - capital injection no doubt
ICPS conversion method 1 using ICPS shares - no capital injection, just surrender your ICPS and convert to mother using 13 ICPS share to 1 mother share
ICPS conversion method 2 using cash - combination of minimum 1 ICPS and hard cash

Posted by wickedlion > 2021-02-17 16:46 | Report Abuse

tido la sampai meninggal

Posted by BLee > 2021-02-17 16:59 | Report Abuse

@sting79, ICPS subscription $ and authorized capital 2 different thing. I am not sure on ICPS $ as I thought same as loan stock. But in AR, shown as equity..maybe some knowledge person can explain. My field is Engineering, not accounting. Happy Trading

Posted by sting79 > 2021-02-17 17:06 | Report Abuse

@ BLee, nevermind it's ok I'm talking purely from a retailer mindset where capital injection meaning pay cash to company for share subscription/conversion. But thanks for sharing your thoughts!

Posted by JuliusCeasar > 2021-02-18 08:15 | Report Abuse

Come on AGES! Can't wait to fly....

Posted by rememberme10 > 2021-02-18 15:15 | Report Abuse

Flying soon, wait for QR to release...

Posted by rememberme10 > 2021-02-18 15:17 | Report Abuse

Despite the pandemic, I believe AGES will have good performance on next qr based on previous result

Posted by SharesENT > 2021-02-18 15:24 | Report Abuse

When is qr releasing ?

Posted by buzzoff > 2021-02-18 16:43 | Report Abuse

qr will out very soon, maybe around this 2 weeks or next month

Posted by limyeesee > 2021-02-18 18:03 | Report Abuse

not yet announced, how to see it lol

Posted by limyeesee > 2021-02-18 18:06 | Report Abuse

with more project announced at 2020, expeciting good result for next quarter too

Posted by newbie9893 > 2021-02-18 18:11 | Report Abuse

buy & keep, TP 0.30

Posted by goodiewilly > 2021-02-18 18:16 | Report Abuse

QR be out tomorrow or latest next week..hope its good like Arbb

Posted by JuliusCeasar > 2021-02-19 08:47 | Report Abuse

Go go AGES!! Hope fly today.....

Posted by newbie9893 > 2021-02-19 14:29 | Report Abuse

already collect tons of Ages at 0.13, TP 0.30

Posted by newbie9893 > 2021-02-19 14:30 | Report Abuse

You won't be able to get this price next week, marked my words.

Posted by newbie9893 > 2021-02-19 15:16 | Report Abuse

lai liao

Posted by rememberme10 > 2021-02-19 15:34 | Report Abuse

Yes, it is coming soon, can AGES hit 0.15 today?

Posted by newbie9893 > 2021-02-19 15:37 | Report Abuse

still not late to hook Ages now, will shoot up very soon..believe me

Posted by BLee > 2021-02-19 15:43 | Report Abuse

At 95% buying up now, keep our fingers crossed for moving up until coming QR..Happy Trading

Posted by JuliusCeasar > 2021-02-19 16:11 | Report Abuse

Steady AGES... Go go up some more...

Posted by JuliusCeasar > 2021-02-19 16:11 | Report Abuse

Look like it's Coming..

Posted by 240gpark > 2021-02-19 16:18 | Report Abuse

Engine really want start liao

Posted by 240gpark > 2021-02-19 16:18 | Report Abuse

Ready!!!!!!!

Posted by 240gpark > 2021-02-19 16:18 | Report Abuse

Boom like next counter

Posted by buzzoff > 2021-02-19 16:19 | Report Abuse

steady la today, now just wait for qr

Posted by BLee > 2021-02-19 16:19 | Report Abuse

Throwing at 14sen well absorbed by buyers, chances of moving higher increase..Disclaimer: Not a buy, hold or sell recommendation. Happy Trading