Posted by Let's Gooooo > 2022-05-30 10:05 | Report Abuse

Hahaha, how soon? At least give a reason why it will rise haha, dumbass.

Posted by Let's Gooooo > 2022-05-30 10:06 | Report Abuse

ARBB's operation is not even looking legitimate.

Posted by Jaes > 2022-05-30 10:11 | Report Abuse

you are right let's goooo.. ARBB operation does not look legitimate. i have my reasons

Posted by InsiderShark > 2022-05-30 12:09 | Report Abuse

when limit up? at Rm140million market cap, the boss just need few millions to create the limit up wave. trading volume also very small, easy to create a fake break out.

Posted by bosskufanboy > 2022-05-30 13:12 | Report Abuse

Wow, another good day to see haters in action again

Posted by Let's Gooooo > 2022-05-30 13:47 | Report Abuse

Haha, when they have no reasonable points, they just call you a hater. Such an easy job to be a syndicate promoter.

Posted by Let's Gooooo > 2022-05-30 13:48 | Report Abuse

No products to be shown or demonstrated like other software companies such as CENSOF and even a smaller cap YGL Convergence, yet still can earn lots of profits.

Posted by Let's Gooooo > 2022-05-30 13:49 | Report Abuse

Even if we don't talk about CENSOF this kind of matured company, how about YGL Convergence? It has a much smaller cap (36 million) in comparison to ARBB (140 million). However, it has better transparency than your ARBB.
https://www.yglworld.com/beyonderp/
It held public demos for their products and showed whose their customers.
You know what software companies have similar website designs like ARBB?
1) VSOLAR (0066)
https://vsolar.com.my/services/
2) ALDRICH - Previously known as ORION IXL (0079)
https://aldrich.my/
Both of them same like ARBB. No product demos, no exhibitions, no transparency.

Posted by Let's Gooooo > 2022-05-30 13:49 | Report Abuse

Before syndicate promoters swarm the forum again with irrelevant shit again haha.
Comment by BursaVulture.

look at censof
https://netsense.my/erp-system-malaysia/

- got screenshot
- explain the benefits of using their software
- show a list of software that can integrate into their solution
- a list of their clients and it helps them
- how they can localise the software to suit your needs

ARBB? fancy graphics and explains to you what is ERP, IOT, Internet.... like going to Starbucks website and they tell you what is a coffee, coffee beans, why beans are brown, why coffee exist, benefit of coffee to health.... etc

Posted by kahfui1221 > 2022-05-30 13:58 | Report Abuse

ARBB

Profitability

The golden rule of investing in value stock is the profitability of the company. Although that might not be the case from some market leader, but commonly, a company needs to be profitable before it could reward shareholders. So, is ARBB profitable? Let’s take a look at their 5 years revenue and net profit trend.

Revenue

FYE2016 – RM35.0 million

FYE2017 – RM11.4 million

FYE2018 – RM15.3 million

FYE2019 – RM102.6 million

FYE2020 – RM219.5 million

1QFY2021 – RM49.5 million

For those who are new to ARBB, the increase in revenue is mainly caused by a shift in core business model. ARBB had evolved from a traditional lumber upstream player to an enterprise solution provider as well as IoT player. But again, revenue doesn’t prove anything. What about their bottom line?

Net Profit After Tax

FYE2016 – (RM15.6 million)

FYE2017 – (RM3.6 million)

FYE2018 – RM4.2 million

FYE2019 – RM32.8 million

FYE2020 – RM42.9 million

1QFY2021 – RM6.8 million

It seems like the turnaround of core business from timber to a technology company had really paid off. But unfortunately, the company suffered a minor setback in their 1Q results due to lagged overview of the market. The next quarter is likely to be stumped by the Movement Control Order too. However, based on their performance since FYE2018, I believe there is a good chance for them to back on track for growth.

Posted by kahfui1221 > 2022-05-30 13:58 | Report Abuse

Dilution

Dilution has always been a hot topic for discussion for ARBB due to their complex derivatives structure of ICPS. Let’s take a look at the number of shares from FYE2016 to date.

FYE2016 – 61.1 million shares

FYE2017 – 61.1 million shares

FYE2018 – 67.2 million shares

FYE2019 – 289.8 million shares

FYE2020 – 454.9 million shares

1QFY2021 – 588.4 million shares

Before we proceed, I would need to explain the structure of their ICPS.

In order to fund their conversion of business, ARBB issued up to 15 times of their initial share base of 61.1 million in order to raise funds.

Due to the unique characteristic of ICPS, ARBB per share value was not immediately diluted – but instead, only dilutes whenever there are conversions from ICPS to the common share.

In short, ARBB did 2 rounds of funding – one via issuance of ICPS and upon conversion, ARBB would receive funds from shareholder on the basis of 20 cents per conversion.

However, there is a maximum dilutive effect of these ICPS. For starter, there are approximately 419.8 million ICPS left in the market.

If these ICPS were converted, the maximum number of shares for ARBB would be 1008.2 million shares.

Based on 1QFY2021 results and if we average it by 4 quarters and discount it by 20%, a very conservative net profit figure would be RM21.8 million, or 0.0216 in EPS.

By using the closing price on LDP 25.5 cents, this would translate to an approximate PE ratio of 11.81 times.

Posted by kahfui1221 > 2022-05-30 13:58 | Report Abuse

Trade Receivables

One last key concern of investors on ARBB is the trade receivables. I totally agree that after the SERBADK incident, investors should keep an eye on trade receivables.

Also, this might be the only weakness for ARBB thus far.

Under the financial period of FYE2020, the company had a total of RM132.4 million in trade receivables.

It is important to point out that out of the RM132.4 million had not past due the “grace period” of the company, given to its clients.

There is potential risk, however, on the remaining RM30.1 million which has past due between 31-120 days and RM27.3 million which past due between 121-210 days.

Should you be worried? Yes. But to be fair to ARBB, let’s find out why the trade receivables are increasing.

ARRB is principle involved in enterprise solution, which to be more specific, that would ERP for business.

ARBB focuses on delivery customised ERP solution for small and medium businesses. However, ERP is known for a very high entry costs for small and medium businesses.

The solution given by ARBB is a profit-sharing scheme where they would enjoy the growth of these businesses.

In the year of 2020, most businesses suffered loss – some even shut down for good. The trade receivables are mainly coming from their client and not ARBB itself directly.

Hence, we should expect that once the economy turns over, ARBB should see a sharp decrease in trade receivables.

Also, the auditors had done an impairment test on the trade receivables for ARBB in FYE2020, but the results are positive towards ARBB.

Posted by kahfui1221 > 2022-05-30 13:58 | Report Abuse

Peer comparison

Sadly, we do not have too much great software-based technology companies in Malaysia.

The closest peers I could find would be the newly listed RAMSSOL, CENSOF and probably MICROLN.

The PE ratio for these companies are 42.44 times, 10.20 times and 19.38 times.

On average, ARBB should deserve an 18.00 (conservative basis) times PE ratio to 24.01 times PE ratio (fair value) and 30.00 times in bull scenarios. Thus, the share price should be:

18.00 times PE ratio under maximum dilution – 39.0 cents

24.01 times PE ratio under maximum dilution – 52.0 cents

30.00 times PE ratio under maximum dilution – 65.0 cents

In order words, ARBB is currently trading at a plenty margin of safety left

Posted by Let's Gooooo > 2022-05-30 14:03 | Report Abuse

Haha, these companies that you compare have legitimate products with proof of existence. You only know how to spam those suspicious accounting as a way to promote this stock?

Posted by Let's Gooooo > 2022-05-30 14:04 | Report Abuse

Pathetic syndicate promoters, haha. You thought you randomly go other forums like Mr. DIY to comment a while, people don't know that you are a syndicate promoter?

Posted by speakup > 2022-05-30 14:08 | Report Abuse

problem with ARBB is company give 0 dividend, so even company say got rm50million in bank, investors dont believe. that's why trading at super discount

Posted by Let's Gooooo > 2022-05-30 14:12 | Report Abuse

so much money in bank yet can't afford to pay loans without rights issue wow

Posted by speakup > 2022-05-30 14:12 | Report Abuse

that's why ARBB with net cash rm50mil, giving 0 dividend, trading at PE 1.6x
but WILLOW with net cash rm76mil, giving 4% dividend, trading at PE 12x

see the difference? DIVIDEND!

Posted by speakup > 2022-05-30 14:15 | Report Abuse

if dont give dividend, investors think the cash in bank is fake, just like Xingquan & Msports last time.
a lot ppl last time buy Xingquan & Msports because they claim to have millions in their bank account, but we now know all fake one. both delisted already due to fraud accounting.

Posted by Let's Gooooo > 2022-05-30 14:44 | Report Abuse

Haha, so got real money can give dividend. No real money, cannot give la?

Posted by bosskufanboy > 2022-05-30 15:16 | Report Abuse

Xingquan & Msports are both different cases compare to ARBB, i think bias much?

Posted by Let's Gooooo > 2022-05-30 15:17 | Report Abuse

How different? Haha bias much?

Posted by Let's Gooooo > 2022-05-30 15:18 | Report Abuse

Give you peer comparison with software companies, you sleep. Now compare with financially similar companies you awake

Posted by Let's Gooooo > 2022-05-30 15:18 | Report Abuse

HAHAHA, bias much?

Posted by bosskufanboy > 2022-05-30 15:23 | Report Abuse

I not like you ma, which is a full time i3 keyboard warrior, cant monitor 24/7

Posted by Let's Gooooo > 2022-05-30 15:25 | Report Abuse

Of course warrior ma. As long as we prevent or even cast a single doubt when retailers attempt to buy constocks like AGES and ARBB, we won dt

Posted by Let's Gooooo > 2022-05-30 15:26 | Report Abuse

I really like spending my holidays just to watch you syndicate promoters scramble to whitewash these forums

Posted by biscuitboy96 > 2022-05-30 15:43 | Report Abuse

Getting interesting. Now all working as a full time. i3 no longer a peace place for discussion. It a spamming place.

Posted by Let's Gooooo > 2022-05-30 15:45 | Report Abuse

Said the guy who created this account just to ptomote ARBB haha

Posted by petronasgloves > 2022-05-30 15:50 | Report Abuse

Arrb top 3 spammer :
Line / Neon / Let's Go/ kahfui1221
Not sure a bad or good thing. I smell the share price going to goreng soon.
Arb spiking soon ?

Posted by Let's Gooooo > 2022-05-30 15:52 | Report Abuse

Name put petronasgloves but spent most of the time in ARBB. Real nice.

Posted by Let's Gooooo > 2022-05-30 15:53 | Report Abuse

Ah this one. This is quality syndicate promoter. At least spend time diversifying his comments in different forums, but all still comments with a generic format lmao

Posted by petronasgloves > 2022-05-30 15:57 | Report Abuse

? Petronas high price, nobody keep commenting. Only those penny stock to have fun got comment, You can comment here, I cannot ?
Don't know how you guys politic politic or spamming. I don't think that I comment anything is wrong.

Posted by Let's Gooooo > 2022-05-30 15:59 | Report Abuse

I didn't forbid you to comment what, haha?

Posted by biscuitboy96 > 2022-05-30 15:59 | Report Abuse

maybe all spammer is same people, Surprising that neon is not here at the moment.

Posted by Let's Gooooo > 2022-05-30 16:04 | Report Abuse

Before syndicate promoters swarm the forum again with irrelevant shit again haha.
Comment by BursaVulture.

look at censof
https://netsense.my/erp-system-malaysia/

- got screenshot
- explain the benefits of using their software
- show a list of software that can integrate into their solution
- a list of their clients and it helps them
- how they can localise the software to suit your needs

ARBB? fancy graphics and explains to you what is ERP, IOT, Internet.... like going to Starbucks website and they tell you what is a coffee, coffee beans, why beans are brown, why coffee exist, benefit of coffee to health.... etc

Posted by Let's Gooooo > 2022-05-30 16:05 | Report Abuse

Even if we don't talk about CENSOF this kind of matured company, how about YGL Convergence? It has a much smaller cap (36 million) in comparison to ARBB (140 million). However, it has better transparency than your ARBB.
https://www.yglworld.com/beyonderp/
It held public demos for their products and showed whose their customers.
You know what software companies have similar website designs like ARBB?
1) VSOLAR (0066)
https://vsolar.com.my/services/
2) ALDRICH - Previously known as ORION IXL (0079)
https://aldrich.my/
Both of them same like ARBB. No product demos, no exhibitions, no transparency.

Posted by bosskufanboy > 2022-05-30 16:07 | Report Abuse

Hahaha neon long time ignore them already, actually pointless to talk to them

Posted by bosskufanboy > 2022-05-30 16:07 | Report Abuse

I'm actually starting to ignore them also, like talking to a cow

Posted by Let's Gooooo > 2022-05-30 16:08 | Report Abuse

Haha, you log out and log in another account to speak sure take some time right.

Posted by line > 2022-05-30 16:08 | Report Abuse

Biscuitboy96 arbb got no products! Nothing to spam!

Posted by line > 2022-05-30 16:10 | Report Abuse

More n more ppl from the public are coming and storming!!! They want their money back or the boss must demo their products!!!! Demo the track records!!! Otherwise they want the boss to stripped Naked n beaten in the butt….

Posted by bosskufanboy > 2022-05-30 16:10 | Report Abuse

Penny stock comment section = free entertaiment, no doubt about that

Posted by line > 2022-05-30 16:11 | Report Abuse

Some got no choice but need peaceful mind … so they want to go jail n do external course peacefully. Before that want to beat the butt!!!

Posted by Let's Gooooo > 2022-05-30 16:13 | Report Abuse

Lmao, I think I better go back to my holiday. I don't really mind anymore if people really trust you guys and buy these shits

Posted by gkent2000 > 2022-05-30 16:13 | Report Abuse

One boom explode, all come, I guess many were eating popcorn and laughing.

Posted by line > 2022-05-30 16:13 | Report Abuse

Neonstrife why u keep on spamming!!!! Let the government do their work. What does this news got to do with ARBB! We need to see arbb’s product first!!!!

Posted by Let's Gooooo > 2022-05-30 16:13 | Report Abuse

Watching line typing a generic script really hurts my head

Posted by DickyMe4 > 2022-05-30 16:13 |

Post removed.Why?

Posted by Let's Gooooo > 2022-05-30 16:14 | Report Abuse

Hahaha, no real product how to solve food crisis? Wait meatballs fall from sky?