Posted by goodiewilly > 2021-03-24 23:45 | Report Abuse

2 interesting announcements must READ today:
Resignation of External Auditors, who kena punishments, and Bursa queries on legal suits against old management while SC is in CC loops..ie SC to take up further actions..
Cheers

Posted by rapparesh > 2021-03-26 14:12 | Report Abuse

Good luck to Ageson, hope this is the time to start flying after getting rid of ex-management

Posted by nimblecloud88 > 2021-03-26 15:10 | Report Abuse

lol, people still stuck with the same topic again, Cheat this cheat that. Look at arb, when stock price fly, Fat Liew is god.
But look back Ages, when stock price down, is Fat Liew problem. Investment attitude wasn't good and blame this blame that. This is humanity. hahahahaa.... Problem come then solve lo. What a big duel man ? My gosh. Group of sickness people and I started confuse who is investor now or just a random keyboard warrior.

Posted by ShareGoreng > 2021-03-27 20:51 | Report Abuse

All the sand mining JV with MBI disappeared into thin air ?. Supply of river and sea sand to China and korea also disappeared into thin air ?

Posted by AllanTingAS > 2021-03-28 10:43 | Report Abuse

No silica sand (glass grade) is in shortage and price high in China especially! I don't know the situation on the company? only look forward for their next QR! It must be positive or else we are in trouble!

Posted by fable > 2021-03-29 16:21 | Report Abuse

No worries, AGES currently in good shape!

Posted by GuanYinMa > 2021-03-30 08:42 | Report Abuse

New roads ahead. Dont worry. Bobi bobi

Posted by kangedd > 2021-03-30 16:12 | Report Abuse

MY TOP “HIDDEN” STOCK PICK FOR THE CONSTRUCTION SECTOR RALLY

Alongside with global recovery stemming from reduced number of confirmed cases of COVID-19, majority of Malaysia Equities – in particularly the property and construction sector. This is supported by the fundamental factors where MCO would no longer hinder the progressive construction activities.

And in simpler terms, without MCO, the earnings of construction and property companies would go up.

Posted by kangedd > 2021-03-30 16:12 | Report Abuse

If you studied the movement pattern of our construction sector, you’d notice a consolidation pattern towards uptrend breakout. This is truly interesting case study for investors.

However, there was one stock stood above all in terms of earnings and valuations. This company would be AGESON BERHAD (KLSE:AGES). The latest financial results of AGES had shown that the company achieved MYR 44.7 Million in revenue and MYR 12.4 Million in PAT respectively. This translates to a net profit margin of 27.71% - which is way above average of the industrial norm of 5% - 6% net profit margin!

Moreover, AGES had achieved this result amidst the second wave of MCO implemented by the government, where majority of the construction activities are halted – which in turn damaged the profitability of construction companies.

Posted by kangedd > 2021-03-30 16:12 | Report Abuse

Sadly, no change of share price had been done after the result announcement by the company. I believe this is due to lack of publicity for AGES as majority of the investors do not understand the true value of this company. That being said, we still see strong support at 12.0 cents – 13.0 cents with decent traded volume.

AGES had also announced to issue new ICULS to finance the new joint venture development with MBI Kedah for a project of over a billion in GDV. The project is poised to continuously support the financials of AGES for the next 15 years to come. In other words, AGES will continue to grow for the next 15 years!

The current phase of stock price movement is commonly known as “collection phase”. Where lower volume and traded activities as well as a consolidation in price between 12.0 cents – 14.0 cents had shown someone buying aggressively. If you could, collecting below 13.0 cents would be a definite win and free profit from ICULS!

Posted by kangedd > 2021-03-30 16:12 | Report Abuse

https://klse.i3investor.com/blogs/HIDDENGEMLIST/2021-03-30-story-h1543048521-MY_TOP_HIDDEN_STOCK_PICK_FOR_THE_CONSTRUCTION_SECTOR_RALLY.jsp

Posted by 240gpark > 2021-03-30 16:33 | Report Abuse

When you worries about this company. Why you invest. From time to time, You will realize Ages is getting solid after takeover from the ex trash management. Fatty Liew might not like by someone but the company performance is improving which I more concerned, Is it a Gem or not. Time will show

Posted by SolidGold > 2021-03-30 21:05 | Report Abuse

W

Posted by saidora > 2021-03-31 07:15 | Report Abuse

Hi. Can someone confirm the conversion formula from Ages-PA to Ages? Is it only 13 sen for 1 to 1 conversion? Thanks.

Posted by fable > 2021-03-31 16:37 | Report Abuse

Correct, 13 PA to mother or mother + 12 cents

Posted by BLee > 2021-04-01 15:25 | Report Abuse

High buying volume just happen..look c look c. Happy Trading

Posted by sting79 > 2021-04-01 15:33 | Report Abuse

High buying volume just happen..look c look c. Happy Trading

Look c look c ok already, dont buy. ICULS rights issue in progress until sept 2021, risk is there if you are familiar with rights issue. If still interested, best time to buy is always nearing RI completion as mother share will already be near the issue price that time, and surely is more discount than now. Especially if you think can earn from the ICULS share play...

Posted by sting79 > 2021-04-01 15:47 | Report Abuse

I own this share but hope is already gone until the RI completion in 3rd quarter 2021. Expected price then will be around 0.11 or lower as indicated in the proposal. Nothing much to hope for at this moment even with subsequent profitable quarters or news, have to face reality that you cannot go against the market makers controlling the price of a stock with upcoming rights issue exercise...

Posted by BLee > 2021-04-01 16:05 | Report Abuse

Two (2) high buying wave within half hour..still look c look c. Happy Trading

Posted by giinyang520 > 2021-04-01 16:31 | Report Abuse

Seem like AGES had wake up ...let see

Posted by fl888 > 2021-04-01 16:33 | Report Abuse

if Dow up\tomorrow, then can fly along.

Posted by saidora > 2021-04-01 22:29 | Report Abuse

Thanks fable. That means I just need to pay 12 sen to convert a PA to a mother share, right?

Posted by 240gpark > 2021-04-02 13:32 | Report Abuse

Ages is still sleeping, wait for the rising dragon and slap those hater face.

Posted by fable > 2021-04-02 16:37 | Report Abuse

@saidora yes

Posted by kangedd > 2021-04-05 16:26 | Report Abuse

CHANGE OF NAME AND CHANGE OF NEW OWNER, SOMETHING’S BREWING?

As at 19th February 2021, Cymao Holdings Berhad had officially changed its name to Annum Berhad (5082). Prior to the name change, we had seen Dato’ Sri Chin Kok Foong and Dato’ Sri Liew Kok Leong had invested into the company heavily. What exactly is brewing behind this company?

Posted by kangedd > 2021-04-05 16:27 | Report Abuse

From the graph shown above, we could clearly see a temporary consolidation in share price for ANNUM. CYMAO had recently, together with a Memorandum of Understanding with Billion Apex Sdn Bhd had awarded these 2 parties for a contract worth of RM 120 Million. Majority of investors or “goreng kaki(s)” would focus on ANNUM at this juncture. But me, as a long-term investor would choose to focus on Ageson Berhad (AGES) instead. Why?

Posted by kangedd > 2021-04-05 16:27 | Report Abuse

1. Ultimate winner of the awarded contract

Ultimately, AGES will be the one winning from the mixed development project issued to ANNUM and BASB. This is because we are seeing a strong recovery in the property sector now interms of real sales – which would translate onto AGES’s profit and loss statement directly.

Moreover, with steel and cement price on a uptrend due to sluggish supply and additional demand from China, the costs of construction would be high and it would impact the construction company. Hence, property developer cum construction player would be a much better choice of investment under this circumstance.

Posted by kangedd > 2021-04-05 16:27 | Report Abuse

2. Solid fundamentals

Property developers, main contractors and sub-contractors are all subjected to progressive billing to account for revenue and net profit. One might think that all these companies’ activities are halted during the Movement Control Order (MCO), this might be true for most of the players in the sector – but not for AGES.

In financial year ended 30th June 2020, the company had reported a net profit of RM 10.3 & RM 17.3 Million for 3rd and 4th quarter respectively – which is really impressvie!

What’s more – AGES did not “just” profit. They are maintaining a high profit margin of 20% - 25% on average. This had greatly proven the management’s competency and high efficiency of the company’s business!

Posted by kangedd > 2021-04-05 16:27 | Report Abuse

3. Issuance of ICULS

Most investors think that ICULS is bad for the company. Yes, ICULS would potentially dilute the earnings per share of the company. However, if the company were able to utilize the funds to enhance the profitability of the company, do you think it was a mere dilution or added bonus to the company?

Fortunately, another investor had shared good info about ICULS here. You can view the article over here.

https://klse.i3investor.com/blogs/truthfinder2021/2021-03-19-story-h1542870956-WHY_IS_THIS_NEW_ISSUANCE_OF_ICULS_GOOD_FOR_THE_COMPANY.jsp

Posted by kangedd > 2021-04-05 16:27 | Report Abuse

4. Trend is always your friend

Upon talking to several dealers and remisiers friend of mine, I had confirmed fund managers are in talk with construction and property companies now. Based on my knowledge, AGES should be approached by several fund managers to purchase their shares before the issuance of ICULS.

Most of the time, investment requires detailed analysis of a company. However if we ride on the right trend, this could shorten our investment horizon and we could re-deploy our capital quicker from the profits. Why not leverage on the current construction and property trend, on this undervalued single digit PER counter?



To summarize, I think AGES is the company that truly “has something brewing”. The current price of RM 0.135 is extremely safe to buy in. If you would like to ride on the trend, do not miss this once in a cycle opportunity!

Posted by unclekyyisbest > 2021-04-05 18:01 | Report Abuse

Disclaimer : Not buy call, I am just a cheerleader. JUST IN CASE hater report me again.

If you guys were realize that actually Ages is very inefficiency in case settling and performance improving but unfortunately

there are still many people Don't like the counter even their improving is very good by every quarter. Maybe most them is trader or just random hater ?

Value investing is not easy, but the real value need time prove it !
Try study back another counter i bought (inta) very close competitive counter with Ages.

After study you will realize Ages is very potential stock to go out same Value as Inta.

AGES did not “just” profit. They are maintaining a high profit margin of 20% - 25% on average. This had greatly proven the management’s competency and high efficiency of the company’s business!

Disclaimer : Not buy call, I am just a cheerleader. JUST IN CASE hater report me again.
Disclaimer : Not buy call, I am just a cheerleader. JUST IN CASE hater report me again.
Disclaimer : Not buy call, I am just a cheerleader. JUST IN CASE hater report me again.

Anyhow current price is really good support level to enter according to the technical.

Posted by BlackWhite > 2021-04-07 09:59 | Report Abuse

No harm to keep for another 3 months

Posted by GuanYinMa > 2021-04-07 10:18 | Report Abuse

Bobi bobi this counter. in few months boom 0.50

Posted by goodiewilly > 2021-04-07 17:59 | Report Abuse

https://www.theedgemarkets.com/article/exageson-unit-incurred-rm24m-cost-rm115m-worth-works-done-kl-construction-project-forensic?type=malaysia

Posted by fable > 2021-04-07 18:26 | Report Abuse

Yes, good news ahead

https://www.thestar.com.my/business/business-news/2021/04/07/ferrier-hodgson-completes-forensic-audit-on-agesons-suit-against-its-former-managing-director

Posted by 240gpark > 2021-04-08 13:52 | Report Abuse

Nice. Just a little timing more ~

Posted by kangedd > 2021-04-08 13:58 | Report Abuse

Ex-Ageson unit incurred RM24m cost for RM11.5m worth of works done for KL construction project, forensic audit reveals

Posted by kangedd > 2021-04-08 14:00 | Report Abuse

KUALA LUMPUR (April 7): A forensic audit by Ferrier Hodgson MH Sdn Bhd revealed that the RM23.7 million construction cost incurred by former Ageson Bhd unit Prinsiptek (M) Sdn Bhd (PMSB) for a construction project in Sentul here did not commensurate with the progress billing issued by the project’s quantity surveyor.

In a statement, Ageson said the survey had certified that only RM2.8 million worth of preliminary work and RM8.6 million of piling works had been done as at Nov 22, 2017.

“It is now clear that [Ageson’s ex-managing director Datuk Foo Chu Jong] has failed to exercise his duty as a managing director, by paying RM23.7 million in exchange for works done with RM11.5 million. On April 2, 2021, we have invited independent personnel to visit the construction site, and photos taken proved that there is no development since June 2018,” said the group.

Ferrier Hodgson also found that PMSB had only issued one progress billing for RM11.5 million to Qaiser Harta PMC -- which awarded the construction contract to the company on Nov 17, 2017 -- in the financial year ended June 30, 2018.

Posted by kangedd > 2021-04-08 14:00 | Report Abuse

PMSB then charged a portion of the costs of RM8.8 million and profit of RM2.6 million that year.

Moreover, Ferrier Hodgson also found that the letter of awards to MH Maju Holdings Sdn Bhd dated Sept 14, 2016, Dec 1, 2016, and April 4, 2017, could not have been issued by PMSB as the project title and MH Maju were not in existence at that time.

MH Maju, which is involved in machinery rental and leasing, was only incorporated on Aug 29, 2017.

In addition, Ferrier Hodgson also found that 93% of payments amounting to RM22.6 million were made to MH Maju (67.3%) and project contractor Rapi Mulia Sdn Bhd (26%). However, the audit firm estimated that PMSB only stood to make RM22.04 million in profits from the project.

“Considering that Ageson Group has sufficient knowledge and experience in property development and construction industry, is the amount for consultation really necessary?” the group asked.

According to Ageson, other than the 11 invoices issued by MH Maju and the progress work certification issued by PMSB, Ferrier Hodgson has not sighted any other documentary evidence that could substantiate the basis of the invoices issued by MH Maju, as well as the value of work done by MH Maju that was certified by PMSB.

“Numerous cheques were issued to MH Maju and cleared for payment by the bank on the same day, and there were a few occasions cheque receipts iwth identical amounts to the cheques issued to MH Maju, deposited into PMSB’s bank account immedately after PMSB’s cheques to MH Maju were cleared for payment,” added Ageson.

The group said the latest findings had “cemented” its suit against Chu Jong, former executive director Foo Chu Pak, and five others for breach of statutory duty and conspiracy to injure the company.

The other defendants in the suit are MH Maju, Rapi Mulia, Fab Builders Sdn Bhd, Fatimah Kamaluddin, and Zairul Hasnan Md Ariffin.

Fatimah and Zariul are former directors of Rapi Mulia.

The suit centres around a construction contract awarded to PMSB in 2016 for a 44-storey apartment block, together with a 8-storey car park podium and amenities in Sentul, Kuala Lumpur.

The contract, which was awarded by Qaiser Harta PMC, has a value of RM330.3 million.

According to Ageson’s statement of claim, Ferrier Hodgson had found that PMSB had made bogus or dubius payments to certain consultants and third parties that amounted to RM24.175 million.

“These payments were disguised in an elaborate scheme to siphon money out of Prinsiptek to the detriment and loss of Ageson,” the group said, alleging that the main perpetrators in the illegal scheme are Chu Jong and Chu Pak with the complicity of the others acting in concert with both of them.

Ageson also alleges that Chu Jong and Chu Pak had breached their duties as directors and their fiduciary duties owed to the company that resulted in the eventual demand by Maybank on the company's corporate guarantee.

It further claimed that the duo acted with the intention of causing wrongful loss to the company, and has breached their statutory duties under section 317A of the Capital Markets and Services Act 2007.

Ageson is seeking an order of restitution damages against Chu Jong and Chu Pak for RM23.77 million, along with damages in equity, damages for conspiracy including aggravated and or exemplary damages.

For the other defendants, it is seeking an order of restitution damages of RM3.492 million against MH Maju, another RM12.678 million from Fab Builders and RM6.282 million from Rapi Mulia, along with damages in equity, damages for conspiracy including aggravated and exemplary damages, and costs of the action.

Posted by nimblecloud88 > 2021-04-08 14:08 | Report Abuse

On this case, only one conclusion, Prinsiptek is a failed management.
Looking back All Ageson handle their issues and case, Even is project is transparent and direct with a Wise move. Well, I guess is a good news to Ageson, where everyone can see their value behind.

Posted by fable > 2021-04-08 16:28 | Report Abuse

dumbass ex-management lol

https://www.sinchew.com.my/content/content_2456099.html

Posted by snake_eye > 2021-04-12 11:05 | Report Abuse

15sen this week

Posted by fl888 > 2021-04-12 11:31 | Report Abuse

Should a police report against Chu Fong, Chu PAK & 5 others..../so that they will be blacklisted and jailed\ accordingly....

Posted by Win288288 > 2021-04-12 12:15 | Report Abuse

Goin up, keep pushing

Posted by 240gpark > 2021-04-12 17:25 | Report Abuse

https://klse.i3investor.com/blogs/afsskylimit/2021-04-12-story-h1563278592.jsp

Posted by 240gpark > 2021-04-12 17:44 | Report Abuse

Kesian dato liew to get all the boom previously

Posted by fable > 2021-04-12 18:54 | Report Abuse

Big volume recently, sign of a breakout??

Posted by Win288288 > 2021-04-12 22:31 | Report Abuse

Yes, very high possible triangle breakout. Get in before it fly

Posted by unclekyyisbest > 2021-04-13 13:51 | Report Abuse

@nimblecloud88 that's why i said previous management failed to manage the company. After takeover and convert Ages, everything going smooth and turning good by step. Is a big hope and improving company. People will think I keep trash talk is people who don't really study the stock. Ages having good Fundamental, just a little timing to push him to another level.

Posted by unclekyyisbest > 2021-04-13 14:01 | Report Abuse

lol, me again, fable also cheer what?

I long time not saying anything related with TP already but I guess this thing resolve. Ages will really fly very fast also. From the performance of all time, Ages is solid enough to fly. Now need wait good timing only