AGESON BERHAD
KLSE (MYR): AGES (7145)
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Last Price
0.08
Today's Change
+0.015 (23.08%)
Day's Change
0.065 - 0.08
Trading Volume
6,210,600
Prices
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Discussions
34 people like this. Showing 50 of 15,071 comments
Ageson: Appoints independent auditor to look into allegation of suspicious transactions. Ageson has appointed Virdos Lima Consultancy (M) SB (VL Consultancy) to look into audit issues and matters raised by its external auditor Messrs Jamal, Amin & Partners and their basis for expressing a disclaimer of opinion on the company’s audited financial statements for the 18-month FPE Dec 31, 2022 When you see company suka suka
delay and change the financial report to 18months, something is fishy that they are trying to hide.
2024-01-17 11:24
Virdos Lima Consultancy? What kind of company is this? Sorry I never heard before.
2024-01-17 18:26
Virdos Lima official website has an address at Persiaran Tropicana, Tropicana Avenue.
Virdos Lima Linkedin has an address at Jalan Sungai Jernih, 8 Avenue Business Centre.
In Linkedin, the company has posted one job opening, so this address should be more 'valid'. Both sites does not provide an office number to contact.
2024-01-17 23:54
Messrs Jamal, Amin & Partners has an official website and Linkedin.
Both addresses matched, they have multiple offices in Malaysia with office numbers to contact. They also have history of completed projects and various important info of which anyone can use to verify its validity.
Based on these surface information, we can assume the company is hiring a 'questionable' auditor to verify the audit work of a 'reputable' auditor. I think the 2nd audit work will be favorable to the company, this is also to align with the PN17 regularization plan.
Hope Bursa can ramp up its governance on such matters, else good luck to all retail shareholders.
2024-01-18 00:29
Already warned you guys this is a CONMAN counter, same boss same company ARBB, ANNUM, AGES, all same same, from China to Malaysia and will be running to other country as his next stop to repeat the same thing.
For those who think "the stock is low enough, good time to pick up", good luck to you, it will only go lower. The cash already been siphoned out gradually and what is left will be just an empty shell. BURSA not taking action, God will punish the culprit behind, just the matter of time.
2024-01-19 10:35
Already warned you guys this is a CONMAN counter, same boss same company ARBB, ANNUM, AGES, all same same, from China to Malaysia and will be running to other country as his next stop to repeat the same thing.
For those who think "the stock is low enough, good time to pick up", good luck to you, it will only go lower. The cash already been siphoned out gradually and what is left will be just an empty shell. BURSA not taking action, God will punish the culprit behind, just the matter of time.
2024-01-19 10:35
The boss already run, now waiting goatsheap to bare the illegal charges. All the money the boss already token out and resigned
2024-01-19 13:10
Ageson rises 8% on new RM330mil sand supply project
What was the outcome?
https://www.thestar.com.my/business/business-news/2020/04/20/quick-take-ageson-rises-8-on-new-rm330mil-sand-supply-project
2 months ago
starts moving because independent asessments found nothing wrong with the audit
4 hours ago
There is so much ‘water under the bridge’, today report, Link:
https://www.klsescreener.com/v2/announcements/view/7004493 , dispelled some negative comments on AGESON. Some details extracted from the reports as below:-
“The issues and matters raised by the Company’s external auditors in the Audited Financial Statements for the financial period ended 31 December 2022 have been addressed accordingly.
‘- 1. Disclaimer on Revenue Generated from Trading of Construction Materials
1a Ageson SMSGMBH Sdn Bhd
The Company recorded revenue from trading of polyester plywood and cost of sales in the statement of profit or loss and other comprehensive income for the period ended 31 December 2022 amounting to RM412,959,680 and RM322,180,800.
Finding: It was noted no irregularities based on the analysis on the respective customer’s audited financial statements.
1b Ageson Power Sdn Bhd
The Company recorded revenue from trading of polyester plywood and cost of sales in the statement of profit or loss and other comprehensive income for the period ended 31 December 2022 amounting to RM26,078,720 and RM20,841,600.
Finding: It was noted no irregularities based on the analysis on the respective customer’s audited financial statements.
‘- 2. Veracity of the fair value balances of Ageson Berhad’s other receivables carried in the statement of financial position, amounting to MYR43,301,840
Ageson Berhad
The balances of the Company’s other receivables carried in the statement of financial position, amounting to RM43,301,840 as at 31 December 2022.
Findings: Based on the independent assessment, it was noted that Ageson Berhad’s other receivables totalled MYR 43,301,840 as of 31 December 2022. Of this amount, Prinsiptek International Limited owes MYR 1,799,065. The entire amount has been fully impaired by the Company for the financial year ending 31 December 2023.
The remaining balance of MYR41.5 million pertains to the stakeholder sums held under Ageson’s panel legal firm.
‘- 3. Dispute on Valuation of Intangible Assets in Ageson Industrial
Ageson Industrial Sdn Bhd
The balances of the Company’s property, plant and equipment carried in the statement of financial position, amounting to RM138,471,667 as at 31 December 2022. The Company recognizes its property, plant and equipment based on cost model. As a results, there is deferred tax liability of RM13,699,200 reported in the financial statement.
Findings: Based on the independent assessment, the valuation report appears to be supported, and the personnel responsible for the valuation possess the requisite credentials and qualifications.
The Company will work closely with the potential auditor to address the above in the audited financial statements of Ageson for the financial period ended 30 June 2024.”
IMHO, will have to wait for a few more months to see the actual corrections on the audited financial statements of Ageson for the financial period ended 30 June 2024…to hold, buy or sell.
3 hours ago
New auditor:
Virdos Lima official website has an address at Persiaran Tropicana, Tropicana Avenue.
Virdos Lima Linkedin has an address at Jalan Sungai Jernih, 8 Avenue Business Centre. In Linkedin, the company posted one job opening, so this address should be more 'valid'.
Both sites address do not match and also no office number to contact.
Previous auditor:
Messrs Jamal, Amin & Partners has an official website and Linkedin.
Both addresses matched, they have multiple branches in Malaysia with office numbers to contact. They also have history of completed projects and various important info of which anyone can use to verify its validity.
Based on these surface information, we can assume the company is hiring a 'questionable' auditor to verify the audit work of a 'reputable' auditor. I think the 2nd audit work will be favorable to the company, this is also to align with the PN17 regularization plan.
--- Prediction on 2nd audit work is correct so far.
--- Next prediction is that the timing of the final audit correction will match the timing with company coming up with PN17 regularization plan.
--- 25 million market cap is an almost fully cornered stock, please be careful.
1 hour ago
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