The lapse on 11July means the proposal for [ (1) Afton share exchange + (2) the establishment of ESOS ] is no longer valid to be approved by Bursa, see original proposal announcement:
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3342861

The company right now need to sort out PN17 status first and foremost, else unlikely Bursa will approve any sort of share exercise.

It does not mean the company cannot continue to perform fund raising or other share issuance/consolidation in the future. 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.

https://sabahkini2.org/en/news/6133/syarikat-balak-sabah-priceworth-dikuasai-freddy-lim-dan-abdul-aziz-cadang-tukar-nama-kepada-maxland-berhad/view

This counter is owned by 2 powerful figures, should be very easy to goreng if they wanted to. Unfortunately, this seems to be a cornered stock.

AGES has consolidated 15 to 1 in 2022, and the price has fallen more than 95% since then. Many retailer's paper loss is also more than 95%. Probably not many have sold because no point selling at such extreme losses.

Once the issue with PN17, audit reports and AFTON concludes, high possibility of another share reducing exercise such as PP, RI or even another share consolidation. The NOSH is a bit low at 312 million. Be prepared to live in high condo for a very long time to come.

Director Dato Sri Chin Kok Foong claims trial to using fake invoices
https://www.thestar.com.my/news/nation/2023/02/10/director-claims-trial-to-using-fake-invoices

Director Dato Sri Chin Kok Foong resigns
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3406382

Dato Sri Chin Kok Foong got thrown out by the AGES/ANNUM/ARBB gang, and his shares goes to Liew.

Thanks BLee, but another quick search at google gives me the same number for Sin Han & Co.

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.

Note 3 from latest financial reports:
Meanwhile, turnover for the Group’s supply of health foods to China more than doubled to RM3.0 million in 3QFY23 (2QFY23: RM1.4 million) as deliveries to customers picked up.

In the China agreement, BIO announced the contract to be worth $$$ per year:
The value of supplying health food and nutritional meals supplied is approximately RMB700,000,000 per year (equivalent to RM426,700,000).

In a query from Bursa, BIO replied:
Query: The basis and justification in arriving the value of the health food and nutritional meals to be supplied of approximately RMB700,000,000 per year (equivalent to RM426,700,000).
Reply: The supply contract value of RMB700,000,000 was offered by GYHX based on their requirements to meet the market consumption (public and private sector) based on its high population and health conscious awareness of the health food and nutritional meals.

The turnover of one quarter in 3QFY23 is 3 million, and yet the estimated supply value is 106 million a quarter?

Note 3 from latest financial reports:
For our retail pharmacy business, revenue grew by 76.8% to RM5.4 million, from RM3.1 million in 2QFY23, on the back of contributions from newly opened pharmacy outlets.

Newly opened pharmacy outlets? Let's dig some info:

1. Constant Pharmacy has been around for about 20 years now. It is a government-linked brand which enjoys support from Bioalpha Holdings Berhad. To date, it has grown to more than 13 outlets mostly around the Klang Valley.
Google search returned 15 outlets, and this is for over 20 years? AA pharmacy, Alpro pharmacy, Multicare pharmacy and Health Lane pharmacy which are not well known has at least 50 or more shops in Malaysia.

2. Constant Pharmacy in Shopee has extremely low volume of overall items sold:
-- Top item is apple cider vinegar sold for 2900+
-- Second top item is Panadol for 300+
Shopee may not constitute a big part of the sales, but still a very sad number if you look at the overall number of items sold.

3. LinkedIn company size for Constant pharmacy shows:
-- 51-200 employees
-- 39 associated members (members who’ve listed Constant Pharmacy as their current workplace on their profile.)
AA pharmacy, Alpro pharmacy, Multicare pharmacy and Health Lane pharmacy has at least 4 times in terms of associated members, and also at least 200 to >1000 employees.

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.

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.

For those not subscribing, don't forget to sell your rights share (trading starts tomorrow until next Friday).

After ex-date, the mother price will be adjusted lower. If you didn't subscribe, it means the worth of your BIO shares will be reduced. You can however buy the mother share from open market after ex-date for the same amount you need to pay for rights issue.

For example let's say you need fork out RM1000 for rights issue. You can instead choose to buy RM1000 worth of mother shares from open market after ex-date.

The total worth (both mother and warrant from rights issue) if you subscribe VERSUS the total worth (mother only) if you buy from open market should be quite similar.

The subscription has advantages where you will get warrants to play with and also helping to inject money into company. But then I can also choose to buy warrant from open market after ex-date if want to play with warrants.

Ultimately, up to you if want to support the company in its exercise. Personally, if company does not support its price, you should not waste money also.

smartly
assuming......e.g
1. you have 8,000 shares @ 0.10 = RM800
2. your cost for warrants 3000 x 0.03 = RM90
3. ex-priced for BIO = 0.1 & BIO-W issue = 0.03
4. you need mother to be @ 0.14 and above in order to have some small value of the RI-W to subscribe else not worth

Even if mother can be pushed above 0.14, still need time to convert the warrant... another point to consider...

The new warrants has a fair value of 0.0575 for an issue price of 0.035. Many may think that it is a nice 39% discount, so maybe worth to subscribe the rights at 0.035.

But if take into consideration BIO is nearly 'dead' with no interest from new investors/retailers, it is not hard to notice the small fake push resulting in the 5D-VWAP of 0.1088 per share. This 5 day average price is what determines the warrant's fair value of 0.0575.

If you have subscribed rights before, you may know this is not the only choice to average down OR interested for a quick capital appreciation. The mother will be adjusted accordingly after ex-date for sure, so that is one way to average down at that time or for new comers to buy mother. Just do some maths and you realized the amount paid from buying in open market is very similar to subscribing the rights.

Personally, this kind of stock is not worth putting your hard earn money to support any exercise, rather play the wait-and-see game during and after ex-date. Without China players to support, it would be a rather refreshing sight to see the price goes up and up supported by the local players.

A 16 million valued company (capital market) that can generate revenue of ~500 million in 2022 -- no wonder auditor also cannot provide sufficient audit evidence.

Ageson Bhd’s external auditor, Jamal, Amin & Partners is unable to provide a basis for an audit opinion on the company’s audited financial statements for the 18-month financial period ended Dec 31, 2022 (FY2022) as the group has failed to provide sufficient appropriate audit evidence.
In a local bourse filing on Tuesday, the builder-cum-property developer said it expects to resolve the issue relating to the disclaimer of opinion within the next financial year.

After submitted 2022 annual report to resume trading, there is still the issue of insufficient audit opinion. Top 1 bottom valued stock with negative news after news, take care in trading such stocks. There are many other way better stocks to punt out there.

Looking at the past 3 years price volume, the highest daily trade was mid Aug 2020 with around 46 million shares traded. That translates to a meager ~6 million MYR worth of trades. With this I can speculate that the shark is just some kicimiao one, the boss need spend more money on market makers, not business makers lol!

MarcusBioTech: why cannot be suspicious of the company address? Menara Exchange 106 is considered to be a luxury location for offices to be setup.

When I found out that serbadk client's addresses and websites are dubious, that prompted me to be cautious and finally sold off way before the shit hits the fan.

Be a nice guy, go there (can take lrt) and screenshot the building tenant directory list for us ok? I don't hold any shares but I'm sure many others would appreciate what you've done and feel more at ease.

MarcusBioTech gives confusing and nonsensical reply, this is what a typical straw hat man sounds like. Not the one piece straw hat lol. Better don't feed the troll anymore, save some energy for shopee payday better!

An article on ARBB which raises many red flags:
https://klse.i3investor.com/web/blog/detail/The1994Investor/2021-05-14-story-h1565061436-ARB_Berhad_Not_As_Good_As_It_Seems_Be_Cautious

I'm not sure if any SME looking for an ERP solution would consider ARB, as its website has almost zero information. While its "About Us" section highly proclaims "We focus on software development in cloud customised ERP and IoT Solutions to reduce dependence on external vendors in order to capture higher share of markets".

Similar modus operandi on Serbadk IT page with its dubious client addresses and client websites and fake client (this is confirmed as I'm working in a project for the named client at that time).

Please provide the name of ARBB ERP software, nothing could be found online.

Even the address on arbberhad.com is dubious, my previous employer is in Menara Exchange 106 where its directory board list down all the tenants there. Again, it's not hard for someone to just go there to verify if ARBB really has an office there.

MarcusBioTech: ARBB offers the SAP solutions at affordable price about 70% less in pricing compared to SAP Holdings in South Asian countries with proven profitability since 2019.

You mentioned ARBB has proven profitability since 2019 by offering about 70% less in pricing. Please provide a link/source to this claim and existing clients using ARBB SAP Business One. It's not very hard to validate your claims as myself has been in SAP for more than 15 years.

Because MOUs/collaborations/agreements/JVs/etc are so easily published with hundreds and thousands of millions in revenue, it is no surprise that the process to re-list would be simple as well, unless there are prior legal implications such as directors went to jail for fraud.

Regardless who the insiders are, I doubt these 'stuck' money can be thrown to the sea so easily like those institution powerhouses such as EPF, Tabung Haji etc. Coupled with the sudden termination/delayed of MOUs at the same time, again it is no surprise the de-list could happen first, then re-list again. What more is worst than being de-listed so that the most stubborn stain in toilet bowls can be washed away?

MarcusBioTech: ARBB offers the SAP solutions at affordable price about 70% less in pricing compared to SAP Holdings in South Asian countries with proven profitability since 2019.

If you think the chances are not many from the SAP industry is checking out I3Investor forum, you are dead wrong. Many SAP counterparts is involve in the share market since years ago, and you are a fool to put the above statement in a public forum.

To all who read this, the statement above about ARBB offering SAP solutions is definitely a big RED flag. Please avoid this counter, and best of luck to those who are holding.

MarcusBioTech: ARBB offers the SAP solutions at affordable price about 70% less in pricing compared to SAP Holdings in South Asian countries with proven profitability since 2019.

ARB selling SAP solutions or licenses? Best joke in the SAP world, at least in this part of the world...

Better be careful with your words/comments as SAP world is very small, advise you to remove 'SAP' from your articles. You don't want to mess with real SAP vendors believe me...

ykyew11: When not a single auditor out of the 16 wants to be the auditor, you know something is wrong with the company. I also think "resource constraints" is not the real reason.
Yeah when same thing happens 16 times in a row, it is not coincidence anymore. Very high 100% chance something very wrong inside. Auditors also aware from Serbadk case that handling such accounts is never a good thing, rumors spread fast in today's digital world...

AGES is one of the top counter (if not number1) that drops highest among penny stocks. Very few can match its historical drop, just look at past 5-10 years price.

Given such circumstances, don't buy/punt or wait till it drop to 0.005, using only spare kopi money to buy... this counter market maker either playing last hand or already given up...

At today's volume versus the number of bids down, it is obvious some kicimiao shark pressing down the price.
Like whistlebower99 mentioned, some corporate exercise may soon be announced to really flush kao kao any remaining bilis.

Below are the biggest items causing huge losses to current quarter results:
Reversal of bargain purchase 126,687,000
Impairment losses on other receivables and goodwill 84,709,000

Many signs (above results and latest fraud news) are lining up for negative events soon, coincidence or planned? Or rather, karma? :D

I guess the stability being referred to is the application side (user interface, front end, friendliness etc) rather than the structural side (database, infra etc).

Since Jan 2023, many cybertroopers hired by AGES has not post a single comment.
Checking their profiles also revealed that the comments posted in AGES last year was their last.
When it is 1, 2 or 3 cybertrooper we can simply brush it as a coincidence, but it seems there are more than 3 troopers here... coincidence or hired man?

Check if your investment advisor has a license:
https://www.imoney.my/articles/advice-licensed-advisor-securities-commission
Take care of being lured by many gurus without proper license and heavy promoting in social forums.

Ever wonder why there are still lots of buy/sell queue during the eventful crash in stock markets? Once you understand that, it's easier to manage your emotions!

Fact - nobody is earning when price dips and reaches new low and lower (ignore short trader, n/a here)
Speculation - universal law that almost never go wrong which is buy and collect low, sell higher later

Have to remember there are big individual holders here hence you are not alone. They may incur even higher capital loss than you due to big amount invested. Esoteric students understand that stock market is all staged, but it is also one where you can win big but the long wait may be too much for most of us here.

Yeah, if you have mother and still holding, don't sell if that is extra money you don't need. Or if the realized loss is huge percentage that selling it does not makes sense anymore. Hopefully the only way you can ever win at the end (without co. go delist) is to hold indefinitely.

Do not be the 70/80% of those weak hands who always say technical cutloss, if don't sell everything's gone, etc. I had too many lessons learnt that holding indefinitely is the only way to win. Oh yeah of course averaging down if at all possible. No right or wrong but holding it indefinitely is one way to win at the end.

Yes exactly Tobby you can be politician like this one here!
https://www.freemalaysiatoday.com/category/bahasa/tempatan/2022/07/15/guna-masalah-selesai-isu-rakyat-untuk-menang-pru15-bukan-1mdb-kata-saifuddin/

Yeah, only the mass public believes the obvious info fed by the mainstream media.
Esoteric students know that the most powerful will always be hidden, unlike 1MDB scandal where every Tom Dick Harry also know Jibgor is the evil mastermind.

"Additionally, it was admitted that across the Serba Dinamik group, even if there was immediate sale of all assets available for disposal and for which there are said to be purchasers (sale of assets was intended to be over a period of months and, in any event the veracity of such sales is suspect and such claims denied), this would only yield a total of RM157 million.

“This sum is insufficient to make payment of the liabilities under the acceleration notice,” said the petitioners.

This counter has no other direction to go but DOWN. Hence the more sensical course of action is to go for consolidation or something similar.

huahtai98
Looks like a big body is buying up a stake in Jaks...retailers cannot buy like that.

Dunno is good or not, need to study their historical volume and movements. During previous selldown, I remember getting used to seeing daily huge buy and sell volume yet price keeps dropping nonstop.
My guess is the players here have huge funds to throw left and right.

Didn't really follow the Pacific Star PJ development, but it looks like a major failed venture into property. Tak pandai pun nak jalan, mau lari pulak!

Business is good pre-covid thanks to tourists buying the products.
Business cannot sustain post-covid, hence moving to China. But China got many competitors, what is good about BIO then? What you have here, China can do even better and cheaper la!

https://www.morningstar.com/stocks/xkls/5279/ownership
Why this data doesn't show Karim, State Financial Secretary Sarawak or SafariAsia Limited in the top 20 list?
Each of the above shareholder have at least 100 million shares in latest annual report. They all sold everything?

Hi BLee: To have an average cost of 0.28 today, it means your cost prior to consolidation is around 0.03. This is assuming RM100,000 has been invested before consolidation and later subscribed the RI fully.

My cost is 0.145 before consolidation, and averaged down @0.200 (post consolidation) to arrive at cost around 0.5 today. I did not subscribe to RI but bought from open market at a volume higher than the rights subscription.

At current price, it is only 0.019 (0.285/15) prior to consolidation.
Still a very huge drop for those who bought months prior to the consolidation.

Comparing 2021 vs 2022 annual report, Ooi Keng Thye and his Frontkn partner add more, MDEC too, Icapital and WH Capital as well. Only William sold and keep selling even recently, but then he sold at profit to Joe.
We must follow the big shots to add more, then later follow William to sell only at profit.

Those still holding from months ago have no point to sell because % drop is too huge to get back any meaningful capital.
Without catalysts for this counter, it's a drag race and attrition fight.. but to the cindy kate is normal, it is their job and doing it for decades...
Many shares out there have same fate, guess many bilis got richer from previous 2020 bull run and still holding tons of stocks, hence the beatdown from the kates family...

Support at 0.2 RI price already broken, better don't touch for now.
I believe this or previous consolidation / RI is to buy shares from thin air when bilis collection failed, and also to reduce their average cost per share.
Wait for some time and if 0.2 still not supported, likely there may be more game plan (more downside to flush bilis or collect tickets).

https://malaysiadateline.com/gaji-ceo-sapura-energy-rm200000-sehari-walaupun-syarikat-rugi-berbilion-ringgit/