Posted by jeccy > 2020-02-21 12:22 | Report Abuse

The question will be if they really got ECRL, where do they get the working capital?

You can see that their FCF is in negative. It's not healthy. If they manage to turn things around, of course it has a huge potential by looking at its NTA.

Just my POV, if it's really that much of huge potential in clearview, those -PR currently traded should be "hot" item and increased in asking price, those insider will just 'sapu' up.

Posted by kingsley88 > 2020-02-21 12:26 | Report Abuse

Pure speculation is not investment

People who buy 4d or go casino are not investing but gambling

For us investing in Cyclicals like Ageson is based on calculated risk

And the risk and reward now in our favour due to ECRL

So risk can be eliminated if we know how

Posted by jeccy > 2020-02-21 12:28 | Report Abuse

So ECRL is not speculation?

Posted by kingsley88 > 2020-02-21 12:30 | Report Abuse

So ECRL is speculation?

Posted by kingsley88 > 2020-02-21 12:36 | Report Abuse

its still very very undervalue, buy now, why not?

Posted by Williamwongcs > 2020-02-21 12:46 | Report Abuse

AGESON BERHAD

Subject:-

RENOUNCEABLE RIGHTS ISSUE OF UP TO 6,527,407,770 NEW IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES ("ICPS") ON THE BASIS OF 13 ICPS FOR EVERY 1 EXISTING ORDINARY SHARE IN AGESON BERHAD (FORMERLY KNOWN AS PRINSIPTEK CORPORATION BERHAD) HELD AS AT 5.00 P.M. ON WEDNESDAY, 19 FEBRUARY 2020 AT AN ISSUE PRICE OF RM0.01 PER ICPS ("RIGHTS ISSUE OF ICPS")

Posted by Williamwongcs > 2020-02-21 13:01 | Report Abuse

Hi Jeccy, I didn't really read thru the prospectus. However if 13 ICPS for every 1 ordinary share is good even if the company is in bad shape as long as the mother share didn't drop to 6 to 7 cents.

I will go ahead with the purchase but not full but half. Queuing for 7145PR currently at 0.005 cent but the Q is almost 10 billion unit share. Therefore most likely we won't get it. Therefore 1 cent is good even leverage at 13x.

Just my 2 cents opinion, happy earning

Posted by jeccy > 2020-02-21 13:14 | Report Abuse

What I mean is Ageson getting ERCL job is not speculation?

Posted by happylucy > 2020-02-21 13:17 | Report Abuse

We should know when we invest into a share behind it is a business

A water utility business is not cyclical as people need to use water all the time

But since it is so predictable it is dull

Posted by happylucy > 2020-02-21 13:18 | Report Abuse

Investing risk?

A musang king durian selling for Rm200 is risky while a kampung durian at Rm1.00 has little risk

All because of over pricing and under pricing

You can buy a may sang Wang durian for Rm200 and try to export it to China for Rm220 for 19% profit

Or you can buy a kampung durian for Rm1.00 and sell it for Rm5.00 in town for Rm5.00 with 400% gain

So dlady paying a mere 2.2% dividend with only cash if Rm32 millions is very expensive compared to Ageson at 1sen which is going on with ECRL project

Posted by jeccy > 2020-02-21 13:21 | Report Abuse

Williamwongcs, strange, there is a lot of sell Q, no buy Q, how come you can't get?

Posted by jeccy > 2020-02-21 13:38 | Report Abuse

It's not tradeable at this moment right?

Posted by happylucy > 2020-02-21 14:03 | Report Abuse

Ageson x13 i support you

Posted by TopCat2020 > 2020-02-21 14:15 | Report Abuse

I am always a I3 reader and I read comments here for many years. I just never took an effort to register and comment. But I thought this Ages ICPS is quite puzzling and I thought share a bit of view out of curiosity.

I went in Ages on ex date @0.105 and out of uncertain feeling and on 20 Feb I chucked it back at 0.105 with a little loss on charges. I would rather stay sideline and watch.


Not sure all those in AGES read the prospectus for ICPS? It is 13 icps for 1 existing share at 0.01 .

There will be 2 conversion options:

1. Merge 13 icps and convert to 1 mother share.
If you subscribe to icps based on your entitlement from the mother share, your conversion cost is 0.01 x 13 = 0.13 , comparing to current market price for the mother share price ===> this seems expensive , except if the mother share is pushed up to above 13 cts
If you get ICPS from secondary market via purchasing ICPS right, current price for Ages-PR is 0.005, so your conversion cost is (0.01+0.005) x 13 = 0.195 , which is even more unrealistic. I am curious why there are people keen to get Ages-PR from the market???

2. You can choose option 2 to convert 1 to 1 , meaning 1 Ages-PA to 1 mother share by paying 13 cts additionally, your conversion cost will be 0.01 + 0.13 = 0 14, compare to current mother share price, still very unattractive.


I decided to stay sideline because I am expecting there will be a push to mother share in order to make the ICPS subscription attractive.

Of course some people will say it is a buy for future. If mother share goes up then the Ages-PA conversion will be very attractive. However we know share market is like tossing a dice, up or down both with 50% chance. At the moment, I am uncertain.

Posted by TopCat2020 > 2020-02-21 14:20 | Report Abuse

Ah. I missed out conversion option 2 for those bought Ages-PR from secondary market, your conversion cost for 1 to 1 will 0.005 +0.01 +0.13 = 0.145

Posted by jeccy > 2020-02-21 14:32 | Report Abuse

huh? you can sell/buy during subscription period meh?

Posted by TopCat2020 > 2020-02-21 14:34 | Report Abuse

Buy sell Ages-PR, once you subscribe you get Ages-PA

Posted by TopCat2020 > 2020-02-21 14:35 | Report Abuse

This Ages-PR will only in trading till 26 Feb

Posted by jeccy > 2020-02-21 14:42 | Report Abuse

so let's sapu if PA is 0.005 lol

Posted by TopCat2020 > 2020-02-21 14:47 | Report Abuse

Wrong jeccy, not sure you know how it works. You buy from market now is Ages-PR not Ages-PA. Once you get Ages-PR from market, you need to download the form and pay 0.01 for each unit and submit to the registrar to get Ages-PA. That is why I say the cost is 0.015

Posted by jeccy > 2020-02-21 14:49 | Report Abuse

I say when it's listed as PA and the price is 0.005, not PR.

Posted by TopCat2020 > 2020-02-21 14:50 | Report Abuse

And because of this submission process and to avoid people who sold but not surrender their ICPS form, there is a procedure of retaining your selling proceed by your broker. I think these are all on Bursa website.

Posted by TopCat2020 > 2020-02-21 14:54 | Report Abuse

Jeccy : are you sure? Which trading platform are you using?

Posted by TSFH > 2020-02-21 14:55 | Report Abuse

Hi TopCat, those people buy PR in open market not to subscribe, it is chance to make easy money if mother price pushed. For now, we could just wait n see until 26/Feb.

Posted by TopCat2020 > 2020-02-21 14:57 | Report Abuse

The subscribe here means : you get the PR in your CDS account, it is a 100% guarantee you will get it if you fill up the form, buy a remittance , a hasil stamp and send to registrar .

Posted by jeccy > 2020-02-21 14:59 | Report Abuse

I said not now lo... there is no PA now mah...

Posted by TopCat2020 > 2020-02-21 15:03 | Report Abuse

Hi TSFH , how to make money from PR if mother is pushed? Then logically should buy mother share and not PR. For PR in cds account , come 26 Feb will worth nothing if they dont subcribe

Posted by happylucy > 2020-02-21 15:06 | Report Abuse

For other company, i maybe do not recognise their status, but for Dato Larry Liew, you see this name, just follow buy. Where ever company he jv or have business, money will be flowing in non stop.At arb me myself also earn from the icps,earn x13times i bought not much, all total up over 100k. tossing a dice from Dato Larry Liew no matter what number it opens we still win! This Ageson shares confirm rise to at least X13.

Posted by TopCat2020 > 2020-02-21 15:06 | Report Abuse

Jeccy , not quite understand what you are writing. Anyway, It is your investment, you can see it whatever code you like. I am just want to remind those who bought , you are getting PR only, no PA yet till you follow up all the form filling , pay 0.01 each and the hasil stamp and send to registrar.

Posted by TSFH > 2020-02-21 15:08 | Report Abuse

Hi Topcat, you know, PR price is 0.005, the next level is 0.01
Thats simply 100% profit if mother moved. Right now, mother is in tussle between 2 big boys. 1 buying, 1 selling. Dunno which one will prevail.

Posted by happylucy > 2020-02-21 15:08 | Report Abuse

how can you confirm the PA is 0.005? sure? if not? then

Posted by TopCat2020 > 2020-02-21 15:11 | Report Abuse

Happylucy: who said PA price is 0.005?

Posted by happylucy > 2020-02-21 15:11 | Report Abuse

yes TopCat2020, you are absolute right about the pr.buy pr, download form, sign . buy revenue stamp at post office or LHDN rm10, then buy bankers cheque pay 0.01 each.send to midvalley boardroom registrar.

Posted by happylucy > 2020-02-21 15:11 | Report Abuse

jeccy said it

Posted by TopCat2020 > 2020-02-21 15:12 | Report Abuse

Hi TSFH, that could be 1 possibility, but risky

Posted by happylucy > 2020-02-21 15:12 | Report Abuse

jeccy I say when it's listed as PA and the price is 0.005, not PR.
21/02/2020 2:49 PM

Posted by happylucy > 2020-02-21 15:13 | Report Abuse

means will be cheaper than 0.015 total price, just to remind you Dato Larry Liew will not make the price down, its only 1 way, its up! told ya arb time i earn X13 times

Posted by happylucy > 2020-02-21 15:14 | Report Abuse

see what she write---jeccy so let's sapu if PA is 0.005 lol
21/02/2020 2:42 PM

Posted by TopCat2020 > 2020-02-21 15:17 | Report Abuse

Then on listing date in early March and assuming mother share price starts stagnant at this level ie 0.10. There will be a price adjustment , mother shaee price will be around 0.115. So mother share more attractive to get now.

Posted by TopCat2020 > 2020-02-21 15:20 | Report Abuse

Ah Happylucy , ok

Posted by jeccy > 2020-02-21 15:47 | Report Abuse

Maybe I blur blur, but let me put it into this if my understanding is correct:
1. You owned Ageson, and you're provided with the chance to subscribe the ICPS at RM0.01
2. You can trade Ageson-PR until 26/Feb/2020 if you don't want to subscribe (correct or not>??). Failing to subscribe or selling off within the said timeframe will just make it as nothing happens.
3. When Ageson-PA is listed (those who subscribed to the ICPS), the min price is RM0.005 (cannot be zero, right?). But don't think ppl will subscribe and sell at a lost or same price (RM0.01), right? Unless Ageson is making loss over period of next coming 10 years timeframe. So, I don't think can get Ageson-PA at RM0.005 lo... (dreaming). Isn't 13 Ageson-PA also convert to 1 Ageson (correct ka?)? Do you get what I mean? Or my understanding is wrong??

Posted by TopCat2020 > 2020-02-21 16:06 | Report Abuse

Jeccy, item 1 : correct item 2 : partially incorrect. You dont sell in open market doesn't mean you dont want to subscribe. Subscribe meaning you need to physically down load the form, fill up and sign, then go to bank and get remittance for whatever no of units you want to buy/subscribe, get Hasil stamp and affix to them to the form and send to registrar b4 closing date if you dont do both sell in open market and dont fill up bla bla bla, then you dont get any PA and the total number of PR listed on your CDS will be voided .

Item 3: I dont get where you derived the min price for PA from, no one knows how the market sentiment will be in March, I guess even God does not know too. Go and read the prospectus on Bursa website they are 2 conversion options. And you can convert your icps anytime any working days by surrender your ICPS and filling up a form again. If you dont convert, on Maturity, it will be a compulsory auto convert for you.

Hope all helps.

Posted by GGLiang > 2020-02-21 16:07 | Report Abuse

呵呵

Posted by jeccy > 2020-02-21 16:15 | Report Abuse

I don't derive PA price, min tick in bursa not RM0.005 meh? Can you sell or buy at RM0.0049 or number lowered than that? I also blur blur, can you tell me if subscribe 1 PR will it be same as getting 1 PA upon listing? The tenure of the ICPS is 10 years, meaning maturity in 10 years right? No?? I really blur blur

Posted by TopCat2020 > 2020-02-21 16:25 | Report Abuse

Jeccy. Theoretically yes. Min quote in klse trading is 0.005,but if PA drops to that price, a lot of ppl will be crying, especially those get PR from market. Yes. 1 unit PR = 1 unit PA. But 1PA <> 1 AGES . Yes maturity 10 years. For 1 to 1 conversion the conversion price is 0.13, but the company has the rights to revise it.

Posted by jeccy > 2020-02-21 16:28 | Report Abuse

so if really it PA drop to RM0.005 will you sapu and convert to Ageson share? :)

Posted by jeccy > 2020-02-21 16:31 | Report Abuse

to add, if Ageson mother share price is more than 13 unit of Ageson-PR.

Posted by jeccy > 2020-02-21 16:31 | Report Abuse

sorry, it's 13 units of Ageson-PA

Posted by Wow123 > 2020-02-21 16:58 | Report Abuse

I guess less buyer due to PR everyone wants sale

Posted by Wow123 > 2020-02-21 16:59 | Report Abuse

if nobody subscribes let's Dato buyback only than we follow loh