Haha. Buying Bluechips or penney stocks is still a gamble. In the last rights issue, the 2 biggest shareholders also put in about RM10 million. Ageson PA with a conversion price of RM0.12 is still trading at 0.05 to 0.1 cents. Buying the mother share at 4 or 4.5 cents is a good bet at current risk/reward profile. If PA is at 0.05 cents seller, than it different.
Now its no annual report because no auditor. Its not a confirm case of fake accounts. The Fake Account news is just speculations. Bursa also did not request for a special audit as in Serba Dynamik case.
How come you loose that much? What are the problem with the previous Auditors until you failed to submit the FYR reports? Date line is on the 10th and high possibility enough time lor! Risk and Rewards does not apply here.
In view of the above and in line with AGES’ announcement dated 25 April 2023, the trading in the above Company's securities will be suspended with effect from 9.00 a.m., Wednesday, 10 May 2023
======== Be careful trading low price penny stocks. Many CONters undergone share consolidation and fund raising causing huge losses to retail investors, newbies and punters.
Directors collected lots of money for company fund. For purpose mostly not benefiting retail investors.
So when the authority is going to investigate Larry Liew Kok Leong and his dubious accounting practice in ARBB and Annum? Will these two companies doing to be next? Cheating investors will bring you bad karma!
The problems to existing practices bad companies got room to sweep bad features hidden under the carpet and still pass though SC ML requirements for some extended time... When things went broke, investors finally realise the actual situation and at that time it was too late...
Announced EX Date Subject Ratio Offer 18 Apr 2022 05 May 2022 Rights Issue 2.0000 : 1.0000 0.2000 29 Mar 2022 11 Apr 2022 Share Consolidation 1.0000 : 15.0000
=================== Learn a bitter lesson Roughly 1 year ago directors did share consolidation and followed by massive fund raising via rights issue Directors very happy and managed to raise 207,773,660 X 0.20 = RM 41,554,732 from the rights issue
After 1 year, directors unable to transform the company to reward long term loyal retail shareholders who will now incur huge losses for going through the share consolidation and rights issue exercises
Those still holding the rights issue at 0.02 losing almost 90% beside the losses incurred when their shares were consolidated by 15 times.
Be careful holding high NOSH low price penny stocks that have directors who frequently raise fund via massive share issuance to PP, ESOS or to acquire friendly assets at higher price
Will this counter be released from suspension after 10th May if it start submitting the annual report 3 months later? Happened to any other company before?
"The suspension shall be effected on the next market day after the Suspension Deadline i.e. on 10 May 2023 and will be lifted on the market day following the announcement/issuance of the outstanding Annual Report 2022 unless otherwise determined by Bursa Securities."
"The Company has approached a total of 16 potential auditors, and majority of the auditors responses were negative due to resources constraints of the respective firms."
When not a single auditor out of the 16 wants to be the auditor, you know something is wrong with the company. I also think "resource constraints" is not the real reason. Real reason is probably because they dodgy af
ykyew11: When not a single auditor out of the 16 wants to be the auditor, you know something is wrong with the company. I also think "resource constraints" is not the real reason. Yeah when same thing happens 16 times in a row, it is not coincidence anymore. Very high 100% chance something very wrong inside. Auditors also aware from Serbadk case that handling such accounts is never a good thing, rumors spread fast in today's digital world...
AGES is one of the top counter (if not number1) that drops highest among penny stocks. Very few can match its historical drop, just look at past 5-10 years price.
Given such circumstances, don't buy/punt or wait till it drop to 0.005, using only spare kopi money to buy... this counter market maker either playing last hand or already given up...
He will leaving malaysia soon before sc charge him and his criminal case charge, he also soon will get another criminal case against him for another forgery documents case
next 6months!! still got hope man. look at those counter who solved their problem... LIMIT up lel after can trade again. thats if the problem is solved instead of delisted.
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....
cicakman
6,035 posts
Posted by cicakman > 2023-04-27 09:09 | Report Abuse
When you know a counter have problem with auditors,failed to submit FYR , going for possible PN17 or Delisting.Next time cabut first fast fast larrr.