Market sentiment behaves like wave, sometimes good (driven by good government policy etc) or bad (driven by bad statistic of indexes, e.g. bad CPI, PCE). Today's asian markets are closing green, hence stipulated.
Market sentiment skewed to optimistic for now I think. Wait for PCE index this Thursday ba. Expected it will lower down a bit, then the market will be very green afterwards. Haha.
I guess today will close at the current supporting price of RM0.20 ba...Stay tune for tonight de PCE announcement. Expected PCE will lower down a bit to mitigate bad market sentiment
As expected, core PCE index is lower down a bit (4.7% increased YoY; previous month was 4.9% ) but bad market sentiment was not mitigated as anticipated. On the bright side, this company still stays firmly at the support price
Main market-listed Ageson Bhd has maintained its growth momentum in the third quarter (Q3) financial year ending 30 June 2022 (FY22) with a net profit increase of 41.8 per cent year-on-year (YoY) to RM8.8 million from RM6.2 million in the previous quarter.
The quarter's revenue doubled to RM103.9 million from RM48.8 million in Q3 FY21, owing to higher billing from the building materials business.
Be reminded of recently completed corporate exercises :-
================ 1. CONSOLIDATION OF EVERY 15 EXISTING ORDINARY SHARES IN AGESON BERHAD HELD AS AT 5:00 P.M. ON 12 APRIL 2022 ("ENTITLEMENT DATE") INTO 1 SHARE.
================= 2. RENOUNCEABLE RIGHTS ISSUE OF UP TO 716,335,858 NEW ORDINARY SHARES IN AGESON BERHAD ON THE BASIS OF 2 RIGHTS SHARES FOR EVERY 1 EXISTING SHARE HELD AS AT 5.00 P.M. ON 6 MAY 2022 ("ENTITLEMENT DATE") AT AN ISSUE PRICE OF RM0.20 PER RIGHTS SHARE
================ Acceptance and Payment 24 May 2022 05:00 PM Excess share application and payment 24 May 2022 05:00 PM Closing price = 0.205
Total valid acceptances 144,037,582 69.32 Total valid excess applications 67,459,151 32.47
30% retail investors didn't take up the rights issue Excess shares most likely taken up by directors, friendly agents & operators to ensure success of the fund raising exercise
================== Directors might need to announce more MOUs, contract awards to attract more retailers to the stock Major subscribers of rights & excess shares might release their shares to retailers, to free up their fund tied up in the subscription
=============== Continue to monitor quarterly results directors plan for utilisation of company funds directors plan for more fund raising via shares issuance
Congrats to those making 21% profit within 2 days. Trade with care. Operators have lots of rights excess shares to dispose to retailers to move their funds out.
Sometimes, going against the naysayers are like surfing against a wave in opposite direction. However, good companies will always reflect in value eventually.
AGESON BERHAD is by far the best example I’ve seen.
After the long consolidation phase by AGESON BERHAD, and despite the market was in fact terrible today, we still see a powerful rally in the company’s share price. That is, along with volume of 5.65 million shares changed hand.
Despite a strong rebound of share price by 14.6%, the current Price-to-Earnings valuation of the company is still relatively low at 1.71 times, way below the market benchmark of 8 to 10 times trailing PE for construction or developer companies.
Yesterday’s rally is just the beginning.
For long term investors, you may price in AGESON at a 5 times valuation and see it for yourself for how far the company can go. And for traders, a short-term TP of 30 cents is very viable by end of this week.
Many long investors had their shareholding reduced by 15 times due to directors doing share consolidation exercise. Many incurred huge losses due to this exercise. Waiting to see if directors can bring in more businesses and generate more profits in near future.
At current price of 0.245, more than 20% profits for operators, directors and major subscribers of excess rights shares. Good opportunity to move the money out to other stocks
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Thorman
100 posts
Posted by Thorman > 2022-06-27 23:25 | Report Abuse
Dana dari Swiss Bank ker atau Dana pelabur asing?