But its current ROE is damn low, below 5%. I doubt myself now whether shall I switch to other counter which has double digit ROE.

it is similiar to what epf did to Takaful 2 years ago

Look like the fake of this counter is driven or pressed by EPF only.

https://finance.yahoo.com/news/analysts-updating-petronas-chemicals-group-223903549.html

Any suggestion ?

It seems like the share is consistently going down for weeks. Presume it might fall to the expected prices. Shall we wait and buy at that level?

I sold all at level of 0.23 weeks ago

Zaaz_ri Relooking the financial statements of Evermix in details, I have found this unfavorable remarks:-

1. The sales were dropped from 199m to 161m in 2021, ie. 20%
2. Gross profit is only 12%
3. NPAT was only 2m, i.e. 1.8% (worse than FD rate)
4. The whole 60m retained earnings doesnt match with the actual net worth of the company as it has only actual cash of 20m and at the same time it has 55m debtors and 47m creditors plus the bank borrowings of 12m, virtually off set the entire asset value of the company. The real net worth seems to be the cash & bank value of 20m , plus the fixed assets of 38m (of which the valuation is a question mark).

Thus to pay 85m to buy over the company for the net worth of only 20m cash plus some Fa of 38m which in turn will only generate 2m per year, need us to say more what kind of proposal is it?

and 2m/85m is 2.35% return, and 85/2 will take 42 years to recover its capital, does it benefit the shh?
(Remark on comment of 600k net worth, its my oversight and I retract it with apology)

https://www.mondaq.com/shareholders/467958/minority-protection-in-malaysia#

stock good fatt
Are you aware that instead of paying dividend for the profit they made, they use almost the whole reserve of RM85m to buy over a company with net worth of only RM600k, is it really good for the shareholders by doing this? I doubted deeply and will explore the effectiveness to report this to the MACC
It is seemed like a daylight robbery and they take the minority shh for a ride.
This is a very bad corporate governance they are practising.

We invested in their company based on their profit making capability but ended up being vitimised for their recent proposal.
As minority shh, we should NOT condone to this and must attend the forthcoming EGM on 29/7/22 to object.

My lessons learnt, dont ever buy penny stocks, they cant be trusted. Buy blue chips without any worry or panic.

we should not support this counter anymore, dont average down to buy and dont sell, let's see what will happen.

Kingbeast,
Without prejudice, in my opinion this might be due to poor corporate governance being practiced and investors lost confident in this counter. A very good example is that when huge profit is being made, the Management will try to take away the profit out of the company for the benefit of certain intended parties, and those investors who invested in them based on the outlook of the performance of the company will be victimized and suffer losses in the end, end up having no dividend received, pricing keep going down etc.

Epseps, ya, you won’t be felling negative as you might not see that the company is using 83m to acquire an equity company with net assets of only 600k

treetopview I will lodge complaints to the authorities on this and dont simply let them exploit us so easily. Should my complaint fail, then I will never get involved in the Malaysian share market anymore.

Initially I invested in this counter due to the facts that the company was making profit consistently in the past quarter, and has high potential in making more profit. However, out of sudden the Board and the major shh went and practise bad corporate governance by using most of the reserves and cash funds to acquire a related company owned by the major shh, with 65M cash, and the balance by shares. It means that most of the reserves will go into the pockets of the major SHH. Who will get the money? Not us in term of dividend but the major shh, and even then somebody is very happy with this and considered this is a good company , what is the logic? Insane.

It’s very obvious that the RPT is detrimental to the minority shh like us, thus we must go all out to defeat this unfair resolution. If this sort of practice is so rampant, and if authority also never enforce the rules , then who else will have confident to invest in the equity market ?

https://www.theedgemarkets.com/article/relatedparty-transactions-and-private-placements-under-scrutiny

I think we should not worry, the volume is very very thin. Stay sideline and let it play.

If the counter keeps dropping, then it is suspected that it is due to manipulation by intended parties. Thus we shall stay calm.

I will not do anything, not selling and not averaging down while we can not determine where is the bottom line yet.

Please share your strategy, if any.

No need to argue, all those wise investors have already made their decision and quit this stock.

If Ages is so good, there is no need for it to keep issuing ICULS to suck investors' money.

As compared to blue chips like PBB and TNB etc, they only distribute money to investors from dividends all these years.

So far I have never seen Ages paying dividend in the past few years.

If the company is healthy and with strong earning and growing potential, I dont see why the need to keep asking the public for money, as their earnings will be sufficient to fund any project WITHIN their means. If they are aiming beyond their means and capability, god bless them and the innocent investors who follow and support them.

Thus, see you again at the downstream 0.07, which might be soon.

This was expected to happen months ago when I raised my concerns.

My comment is not bias against anyone, why shall I be biased?
It is just that I have learnt from the market and the events I mentioned were factual and it really happened.

Of course I never pinpoint it is happening in Ages but the POSIBILITY is there, no one can guarantee it will not happen or no one will know when it happens.

Thus, as a careful investor, assess your RISKS first, and the money is yours and its your own choice.

As far as anyone has their own CALCULATED risks and they are willing to take the risk, they bear their own consequence, be it profit or loss as a result.

For me, I will rather bet with blue chips of which the risks are much lower and plenty rooms for gains.

Please do not relate me as ex or present management as it is beside the points.

Posted by https://klse.i3investor.com/servlets/cube/whistlebower99.jsp
Especially for newbies trading in loss making penny stocks

Trade cautiously and avoid being trapped for years, in loss making penny stocks that
1. has total issued shares exceeding 1 BILLION shares; some has MULTI-BILLIONS shares and can’t have a decent EPS
2. good only in massive fund raising by issuing shares and selling to market via ESOS, Private Placement (PP) and Rights Issue resulting in dilution of minority shareholding
3. specialized in creating MOUs that turns out to nothing in the end
4. specialized in churning out articles, reports and announcements of business ventures, JV, etc
5. incur losses quarter after quarter, year after year, sustained by cash from fund raising
6. speculate and trading in other loss making penny stocks at high price
7. has undergone share consolidation and rights issue with free warrants to raise more fund from minority shareholders

Common modus operandi of loss making penny stocks is to have frequent fund raising exercise by issuing shares and selling to market via ESOS and PP, enlarging the total issue shares to BILLIONS and diluting minority shareholding.

When the issued shares become Multi- BILLION, and it is no more viable to raise cash by issuing shares through ESOS and PP, the directors will undertake Share Consolidation followed by offering rights issue with free warrants to extract more money from shareholders causing massive losses to minority shareholders.

The company fund raised from such activities are normally used to sustain yearly losses, business projects, assets acquisition, investment in other listed companies, etc

Beware of frequent announcements of MOUs and projects utilizing company fund, which is to create excitement and attract attention of unsuspecting retailers especially newbies to trade in the stock.

Some of these companies also use company funds to invest and speculate on other loss making penny stocks. And most of the time, ended up with huge losses.

=================
List of loss making penny stocks:

ANZO, AT, BORNOIL, COMPUGT, DAYA, DGB, DIGISTAR, DOLPHIN, EAH, EDUSPEC, FINTEC,

FOCUS, GOCEAN, HUBLINE, ICON, IMPIANA, JOE, KANGER, KGROUP, LAMBO, M3TECH, MACPIE, MMAG,

MINDA, MLAB, MNC, MTOUCHE, MTRONIC, NETX, NEXGRAM, OVERSEA, PASUKGB, PDZ, PERDANA,

PERMAJU, PHB, PNEPCB, PUC, PWORTH, SANICHI, SAUDEE, SCOMI, SINARAN, TALAMT, TANCO,

TAWIN, TIGER, TRIVE, VC, VINVEST (VIVOCOM), VIZIONE, VSOLAR, WIDAD, XDL, XOX


================
Stocks that have undertaken Share Consolidation exercise and/or rights issue with free warrants:
- VC, SANICHI, MTOUCHE, PASUKGB, LAMBO, PDZ
- TRIVE, DGB, MLAB, VINVEST (VIVOCOM), NETX, EDUSPEC, PUC
- SCOMI, ICON, IMPIANA, MTRONIC, VIZIONE, TIGER, KGROUP
- MMAG, HUBLINE,

@Tigger Surely it is not meant for me, and wish all those who bet in good sentiment will not face the similar " Consolidation" tricks played by other counter of which I have lodged a formal complaint to the SC and SC has opened file to investigate the related counter.

Soon the ICPS, ICULS and then Consolidation exercises will be subject to stricter rules and regulations to protect the investors at large.

As for AGES, I really can not see from which sectors they can generate revenue to excel. Property development ,die standing during MCO, IT? Who will have extra budget to spend after 1.5 years closed operations? Sand selling ? Shipment costs is sky high making it not viable to venture into etc

If no solid sustainable potential growth in the future, @Tigger, thank you for pointing out my concerns and my choice..

at lease should push up to 0.15 level to match with the recent conversions and make me look like a fool mah. Many others should be happy as they will be released from deadlock by then and i will be a bit sour for the sake of others, it is still worth it, LOL

LOL 200 shares traded at 0.105. More please

@rapparesh
andy,you might want to sue SC for allowing ICPS, so unfair to get free shares right? how can SC allow this to happen!!

Not to this extent but I just emailed my complaint to SC, asking them to investigate, but not on AGES YET, but on the other counter that I suffered losses.

Hopefully it will create awareness to all investors ,and SC to tighten the loopholes ASAP.

As for AGES, yet to decide my next move.

Compared to all the comments, i personally will side @Ngcheekeong's comments as they might be close to the truth, and thanks to Ng for highlighting such wonderful ICPS mechanism which can get the shares for free, my salute and also feel scary.

@Ngcheekeong336, May i know what happened to ARBB ICPS now? Are ikan billis making money or losing like hell?

interesting, can anyone summarize the effect based on the latest info above?

To the extreme extent, if you or the major SHH can guarantee it is a sure win, by a secured written agreement and collateral, I will bet all my money in it, LOL.

then can you share with us how beneficial is ICULS, by quoting successful examples of ICULS from other Malaysian counters which benefited the investors in the past?

Maybe low volume is a good sign ? At least no more massive qty dumping?

As i said earlier, it is not necessary that ICULS always beneficial:-

ICULS has some risks associated with it.

Read this:-
https://www.investopedia.com/terms/i/iculs.asp

@scrown why are you so hard selling about the ICULS?
We have done our research based on available facts , figures, announcements and recent market conditions and yet we can not find any positive findings to support this counter, do you have any to share?

Let me recap as my sour example to alert myself and others.

Please do a study on how the big shark maintained and manipulated their share price at 0.07 starting May 2020, and then stagnant for few months and slowly pushed the share lower and lower. Then ikan bilis like me went and average down few time thinking that when it recover, I can quit without loss around 0.06.


They kept pushing the share prices down till 0.03 and then used the " Consolidation" trick 10:1, at 0.03 level and so many other corporate exercises as below: etc.

MULTIPLE PROPOSALS
SANICHI TECHNOLOGY BERHAD ("SANICHI'' OR THE ''COMPANY'')

(I) PROPOSED DIVERSIFICATION;
(II) PROPOSED SHARE CONSOLIDATION;
(III) PROPOSED RIGHTS ISSUE WITH WARRANTS;
(IV) PROPOSED TERMINATION OF EXISTING ESOS; AND
(V) PROPOSED NEW ESOS

Let me do a simple calculation for loss:-

1. When share price dropped from 0.07 to 0.03, I lost 57% of my portfolio,
2. When the share was consolidated from 10 to 1, the share price was adjusted to 0.30 with 10 times lesser quantity and then they started to dump the share price all the way down to 0.10, again, I loss another round of 75%.

3. I then subscribed the right issue at 0.08 hoping to gain back something, but then after my shares were allotted, the share price was cornered at 0.75 level. This round without hesitation I sold all the shares and rights with a small loss of 10%, AGAIN.

Should I not quit at level 0.075. I might have loss for another round of 46%.

The reason why I managed to dump and cabut at 0.075 was that an investor guru told me this:

"If a person has tricked you once, do you think he/she will not trick you again?"

I also wondering why SC could simply approved all the above scheme as this is the loophole for big shark to slaughter the innocent who subscribed for the right for 0.08 and within less than a month, the subscribed price gone half?

Let us learn our mistakes and dont buy penny stocks ANYMORE.

As the SC never have strict rules to control these thus we minority ikan bilis are extremely vulnerable to the rampant schemes.

Please be careful with our hard earned money and happy investing.

Rumors say the sand contract has expired and or not crystallized. And property market is going to be badly affected due to MCO and most people have been jobless or close down business for months thus no extra cash to invest or buy property.

If we subscribe to this counter for ICULS which based heavily on sand export and property development projects only, do you think is a wise move for us to bet with ?

If it is so abnormal, why should we take risk for such uncertainty?

The only logical reason I can think of for such an illogical thing to happen might be they have to fulfill certain SC requirements and force to comply their obligations in preparing for next round application of proposal like ICULS to the SC and trying to raise fund from us for their whatever projects or business developments.

As I always said, do not do anything yet as now is under the MCO, only few business sectors can excel and not necessarily is AGES. No point listen to empty promises or speculations.

I would rather bet my money with blue chip counters instead of trusting this counter which had dropped all the way from 0.14 to 0.095, (a huge 32% dropped). 32% and still haven't seen the bottom....yet..........

Saham Z. I might follow your good move but i will buy blue chip as I need not worry or monitor the stock and leave it there for AGES also no
problem.

I would like to use Sanichi as my sour example to alert myself and others.

Please do a study on how they maintain manipulated their share price at 0.07 starting May 2020, and then stagnant for few months and slowly pushed the share lower and lower. Then ikan bilis like me went and average down few time thinking that when it recover, I can quit without loss around 0.06.


They kept pushing the share prices down till 0.03 and then used the " Consolidation" trick 10:1, at 0.03 level and so many other corporate exercises as belows: etc.

MULTIPLE PROPOSALS
SANICHI TECHNOLOGY BERHAD ("SANICHI'' OR THE ''COMPANY'')

(I) PROPOSED DIVERSIFICATION;
(II) PROPOSED SHARE CONSOLIDATION;
(III) PROPOSED RIGHTS ISSUE WITH WARRANTS;
(IV) PROPOSED TERMINATION OF EXISTING ESOS; AND
(V) PROPOSED NEW ESOS

Let me do a simple calculation for loss:-

1. When share price dropped from 0.07 to 0.03, I lost 57% of my portfolio,
2. When the share was consolidated from 10 to 1, the share price adjusted to 0.30 with 10 times lesser quantity and then they started to dump the share price all the way down to 0.10, again, I loss another round of 75%.

3. I then subscribed the right issue at 0.08 hoping to gain back something, but then after my shares were allotted, the share price was cornered at 0.75 level. This round without hesitation I sold all the shares and rights with a small loss of 10%.

All the above incidents could be traced from the announcements and share price movements since May 2020 till to-date. the share price fell to 0.04.


Should I not quit at level 0.075. I might have loss for another round of 46%.

In Summary:-

1. Big players can easily corner us as they hold most of the shares which can make the share up or down,

2. They can use all sort of complicated corporate proposals to con us,

3. They then use ESOS to buy shares at much lower price than the market and then dump the share in the market,

4. They can even dump the share price much lower than the right issue price etc.


Thus, will AGES do this to us???? I really do not know but I am extremely pessimistic.
I leave it to all of you to analyse and make your own calls.

I am sure by my recent comments, former SHH will loved me crazily and members might mistakenly thought that i am related to them.

Please do not think that way, I have nothing personal against the company, it is just that I have suffered losses also like all of you and I do not wish the members to suffer even more.

In my case, I bgt at 0.13 and 0.125 level and then I start selling at loss since 0.125 to 0.115 and liquidated around 90% of my total holding of AGES shares.

If I do nothing, I could have suffered losses much more than I can imagine.

Hopefully we all learn from our sour experience.

@rapparesh could it be the other way round?
major SHH after converting, they have shares in hand to dump and force the price down all the way , and when ikan bilis panic seeing the price falling and falling, they let go the share at much lower price, then the major SHH will buy back at prices much cheaper than what they sold earlier?

Since they have the numbers and can control and manipulate the price, up or down its up to them only.

Unlike blue chips, their cap base in huge and not easy for single party to manipulate so esaily.

In the end, who will be at very disadvantaged position? Of course is ikan billis.

To be exact:-

Major SHH bgt 168m Irredeemable Convertible Preference Shares ("ICPS") on 22/6/21 lately from open market.

And since 1/4/21 till 29/6/21, a total of additional 130m ICPS were converted to equity shares @ RM0.13. That increased the total issued equity share capital of167m @ 1/4/21 to 184m @ 29/6/21,
an increase of RM17m.

It doesnt make sense as why he was willing to pay 0.13 + ICPS cost of 0.015 totaling 0.145 instead of buying at a discount from the market at 0.095? The price different is 0.145 less 0.095 = 0.05. which is 0.05/.0095=52%.

52% discount also dont want but rather convert the ICPS, why?

and i noticed there is one very strange thing happening:-
The major SHH had been converting 168m PF with 0.13 lately.

It doesnt make sense why he was willing to pay 0.13 instead of buying at a discount from the market at 0.10?

A 30% discount woh?

Something is wrong somewhere, any expert advice from the members?

But your comments must be based on facts pls.

For example of Sanichi, it consolidated its share with 10 to 1, from 0.03 to 0.30. After that had more rooms to push down further to 0.15 with ease, that is 50% further loss, over night.

And at the same time they cornered us to subscribe their share at 0.08, and surprisingly they got 101% subscription rate.

And now you can see what is the share pirce? only 0.04

Thus, from the above example, investors being cut throat TWICE.

The first time from the share consolidation 50%, the 2nd time from the right issue, again 50%.

Will AGES use the same tricks on us, I dont know but am unwilling to take the risks.

https://klse.i3investor.com/servlets/forum/800001150.jsp

https://klse.i3investor.com/servlets/cube/stockraider.jsp

I suspect the AGES will use the same trick as above and Sanichi was my painful experience which caused my losing my pants.

Be extra careful on all these penny stocks!!!!

It is much safer to buy blue chips nowadays as we dont need to have sleepless nights and wake up seeing our penny counters dropping 30% the next day..

@Newuser777, noted with thanks and we dont need to speculate who are they and maybe they are genuine investors also who have their personal views, I welcome that.

It seems like the counter supports at 0.10 or 0.095 level and what we need to do is to wait for them to kick start, and then only we follow later.

If they stay sideline, as far as we dont buy further and support them, we lose nothing.

kwwong, thanks for your good info.