Posted by BLee > 1 month ago | Report Abuse

“sting79 > The lapse on 11July means the proposal for [ (1) Afton share exchange + (2) the establishment of ESOS ] is no longer valid to be approved by Bursa…The company right now need to sort out PN17 status first and foremost, else unlikely Bursa will approve any sort of share exercise…whistlebower99's observation is based on the company's historical capital changes, which is all about RI and share consolidation, something that put off many investors. But any newbies, punters, gamblers are all welcome.”

Agreed, the proposal has been approved with “court order”; why Not carry out and let it lapse? This is one of the ‘path’ to get out of PN17 (audit query); is it Not necessary any more? IMHO, the company is pursuing another ‘path’ i.e. Independent Auditor; the report came out quite satisfactory. Once this Report Finding incorporated in ‘FR financial period ended 30 June 2024’, the chances will be out of PN17 (audit query). If there are Impairment Reversals, what will be EPS? Let's wait and see.

“Court Order” Announcement:
“On behalf of the Board of Ageson, TA Securities wishes to announce that the High Court has, at the hearing fixed today, approved the Scheme of Arrangement pursuant to Section 366 of the Act in relation to the Proposed Internal Reorganisation (“Court Order”).”
Link:https://www.klsescreener.com/v2/announcements/view/5767513

With the above reasoning, what is the chance of another ESOS proposal? Your guess as good as mine, always Happy Trading and TradeAtYourOwnRisk

Posted by Mar2083 > 1 month ago | Report Abuse

Why still not want goreng up? 😭

Posted by BLee > 1 month ago | Report Abuse

“Mar2083 > Why still not want goreng up? 😭”

If you study the graph from 2Q2024, there are 3 peaks (candles) on 14May.(0.065 to 0.08), 23May (0.08 to 0.10) and 7June (0.11 to 0.125). Is this the first wave of ‘goreng’; I don't know as I am just a ‘spare cash’ investor and do Not have any ‘insider info’?? When is the next ‘goreng’; I also don't know…
Link:https://www.klsescreener.com/detail.php?code=7145

What I know Ageson is one of the worst performing counters during C19 period; especially during delay in issuing AR and QR of Q62022 showing big impairment/losses as shown:
“For the current quarter, the Group achieved a total revenue of RM52.17 million, mainly attributable to the trading of construction material. Other operating income has reduced as a result of the reversal of bargain purchase during the financial period. On the other hand, operating expenses have risen in the same period due to the non-cash accounting impairment adjustments on certain assets such as other receivables and goodwill.
For the period under review, we have generated RM180.38 million from the operating activities and cash and cash equivalents stood at RM44.27 million as at 31 December 2022.”
Link: https://www.klsescreener.com/v2/financial-reports/view/720751

IMHO, the worst is over with the Independent Report “digging” the reason for impairment. I am taking a “risk” there will be an impairment reversal in the coming AR..

Let me summarize my Ageson-PA trading. Due to work from home period; I have the time to ponder on what is the best investment which can beat the bank FD rate. I found ICPS investment is quite attractive due to the 2 methods of conversion, autoConvert upon maturity and the leverage on mother's share price. I started small with my first IB account. I thought I would Not lose if I bought at the lowest of RM0.005 as it is the lowest trading price. I am wrong and speechless. One of the Forumer ‘warning’ is correct, upon Ageson consolidation, my investment became RM0.075. As of now, my investment in account A is still in paper loss.
I started account B when Ageson-PA dropped to RM0.005 again due to a much lower commission of RM1 for every RM100 up to RM700, thereafter RM8 for trading below RM10k. My account B is very much in positive paper gain now mainly because my purchases at the lowest of RM0.005 is now traded at RM0.045; a 9 times increase. I am a bit lucky to cost averaging on this Ageson-PA. There are counters which are delisted; not a chance to recover the investment.
So better do your own due diligence; Happy reading on a Sunday Morning and as always Happy Trading and TradeAtYourOwnRisk.

Posted by w0nderfultime > 4 weeks ago | Report Abuse

garbage la, how to goreng up

Posted by BLee > 3 weeks ago | Report Abuse

I missed this announcement; another step out of PN17 (account query)??

“AGESON BERHAD ("AGESON" OR "THE COMPANY")
- APPOINTMENT OF NEW AUDITORS”
Source: https://www.klsescreener.com/v2/announcements/view/7429233

Today, another breakthrough? If today closes above RM0.13, another Green Candle (wave)!!
Happy Trading and TradeAtYourOwnRisk

Posted by Mar2083 > 3 weeks ago | Report Abuse

Hope can test 15sen on next week

Posted by Victim1 > 3 weeks ago | Report Abuse

https://theedgemalaysia.com/node/721210

Posted by w0nderfultime > 2 weeks ago | Report Abuse

stock longkang ni

Posted by BLee > 2 weeks ago | Report Abuse

“w0nderfultime > stock longkang ni”

What happens to the ‘longkang’ if out of PN17/Guidance Note 3 before 30th Oct.2024? Below are the announcements ‘tracks’ to be out of PN17/Guidance Note 3:-

Announcement on 1st Aug.2024:
“The Company has approximately three (3) months to submit its regularisation plan or waiver application for a waiver to submit the regularisation plan and to uplift the Company as a PN17 listed issuer (whichever applicable) to the relevant authorities for approval.” which plan for ‘a waiver’.

Thereafter on 5rd Aug.2024, amended the Announcement:
“The Company wishes to clarify that the Announcement should be read as follows (amended wordings are shown in bold):-...
The Company has approximately three (3) months to submit its regularisation plan to the relevant authorities for approval.”

Subsequently, on 7th Aug.2024, seek an Extension of Time:
“The Board of Directors of the Company wishes to update that the Company had on 7 August 2024 submitted an application to Bursa Malaysia Securities Berhad (“Bursa Securities”) for an extension of time of an additional period of 6 months until 30 April 2025 for the Company to submit its regularisation plan to Bursa Securities ("EOT Application").”

Finally, on 9th Aug.2024, confidently withdraw the EOT request:
“The Board of Directors (“the Board”) of the Company wishes to announce that the Company has withdrawn the EOT Application on 9 August 2024 as the regularisation plan submission deadline is 30 October 2024, which the Company still have sufficient time to prepare for the regularisation plan submission.”

Come 30 October 2024, will the ‘longkang’ become ‘River of Life’?? Time will tell, Happy Cherry Picking and TradeAtYourOwnRisk.

Posted by mudaBubu > 1 week ago | Report Abuse

Ageson back to dumpster

Posted by BLee > 1 week ago | Report Abuse

“mudaBubu > Ageson back to dumpster”

Too early to tell, maybe just profit taking?? It is just one red herring; after three candles from 0.105-0.115 on 06082024, 0.115-0.125 on 09082024 and yesterday closing of 0.13..

Let's wait for coming QR/AR and the ‘confident’ regularisation plan submission on 30 October 2024..as always Happy Trading and TradeAtYourOwnRisk

Posted by TCH1186 > 2 days ago | Report Abuse

Stop playing. Let me exit with more profit. Knn