Posted by unclekyyisbest > 2021-08-23 17:31 | Report Abuse

I might say they seems not sure what is happening or someone submit wrong info.

Posted by unclekyyisbest > 2021-08-23 17:33 | Report Abuse

Still the best news go for - the edge markets,
the best politic go to - malaysiakini.

Posted by aarowsiewkh > 2021-08-23 17:48 | Report Abuse

Aiya, dont take the news too seriously, something we also have filter out ourselves

Posted by scrown > 2021-08-24 06:47 | Report Abuse

ICPS fund raised was to finance Penang property project and the latest ICLS is to finance Perak 470 acres of property development with the state government and is going to settle bank borrowing gradually that belongs to previous management. So the Chinese article had provided misleading information about the latest financing purpose.

Posted by Target1 > 2021-08-24 07:20 | Report Abuse

will drop below 0.07 ?

Posted by Target1 > 2021-08-24 07:22 | Report Abuse

waiting 0.05 only safe to buy.......

Posted by scrown > 2021-08-24 08:56 | Report Abuse

Once the company receives approval from Bursa for ICLS, u unlikely can buy below $0.10 for mother shares

Posted by 240gpark > 2021-08-24 11:44 | Report Abuse

https://klse.i3investor.com/blogs/myanmarcapital/2021-08-24-story-h1569892252-Queries_Raised_Why_did_AGESON_BERHAD_changed_their_ICULS_terms.jsp

Posted by scrown > 2021-08-24 12:10 | Report Abuse

https://klse.i3investor.com/blogs/myanmarcapital/2021-08-24-story-h1569892252-Queries_Raised_Why_did_AGESON_BERHAD_changed_their_ICULS_terms.jsp

Fair view n once settle ICLS, then we should expect company will spend time on sand businesses

Posted by 240gpark > 2021-08-24 12:54 | Report Abuse

So strong support. You expected to drop 0.05 ... Funny

Posted by BLee > 2021-08-24 14:00 | Report Abuse

Quarterly rpt on consolidated results for the financial period ended 30 Jun 2021:- (Unaudited)
Profit for the financial period: RM8,050,000
Total Non Current Assets: RM257,637,000
Total Current Assets: RM157,182,000
Total Current Liabilities: RM38,497,000
NET CURRENT ASSETS: RM118,685,000
TOTAL EQUITY: RM328,117,000
Total Non Current Liabilities: RM48,205,000
NET ASSETS PER SHARE (RM): 0.26

Another 'Good' quarter despite MCO/FMCO? Happy Trading

Posted by fable > 2021-08-24 15:50 | Report Abuse

Depends on how you think, for me this is a good result

Posted by StayUp > 2021-08-24 17:14 | Report Abuse

https://www.chinapress.com.my/?p=2642471

Posted by oskchoon > 2021-08-24 17:25 | Report Abuse

Less profit but acceptable, problem is company is proposed right issue with ICULS which normally will bring down the share prices...

Posted by aarowsiewkh > 2021-08-24 17:34 | Report Abuse

https://www.theedgemarkets.com/article/ageson-4qfy21-profit-drops-53-lower-margin-higher-operating-expenses

Posted by swimwithsharkss > 2021-08-25 09:47 | Report Abuse

@oskchoon Interesting. Everyone is discrediting the ICPS fund raising but I think there must be a reason for all kinds of fund raising vehicle. Would you prefer a slow dilution or paying 7% to 8% effective interest rate to the bank that diminishes your profit margin?

Posted by swimwithsharkss > 2021-08-25 09:50 | Report Abuse

Market is moving, looks like they appreciate the QR.

On a side note, check out this article : https://focusmalaysia.my/digitalisation-to-enhance-cost-efficiency-of-agesons-construction-projects/

Posted by unclekyyisbest > 2021-08-25 11:54 | Report Abuse

MAIN Market-listed Ageson Bhd will leverage the Internet-of-Things (IoT) concept and usage of new construction technologies notably building information modelling (BIM) for better management of timeframe and costing for all its future property development projects.

Nice ! Ages is moving toward greatness

Posted by BLee > 2021-08-25 11:54 | Report Abuse

@swimwithsharkss: @oskchoon Interesting. Everyone is discrediting the ICPS fund raising but I think there must be a reason for all kinds of fund raising vehicle. Would you prefer a slow dilution or paying 7% to 8% effective interest rate to the bank that diminishes your profit margin?
25/08/2021 9:47 AM

BLee: I am NOT discrediting ICPS as I am paying a lower value investing in a growth stock. The only problem is ICULS proposed issuance is too close a gap and at a lower value w.r.t. ICPS; hopefully ICPS conversion price will be adjusted to equal value as ICULS conversion price...

Happy trading

Posted by scrown > 2021-08-25 12:18 | Report Abuse

Correct me if I am wrong. ICPS conversion is surrender one ICPS. +0.12 to get mother shares. However, ICLS conversion is surrender one ICLS (cost $0.025) +$0.10 to get mother share and not minus out your original cost of $0.025 or four lots of ICLS to one mother share. Is it true?

Posted by StevenKhoo111 > 2021-08-25 14:56 | Report Abuse

https://klse.i3investor.com/blogs/valuefinder2021/2021-08-25-story-h1570543815-AGESON_BERHAD_7145_COMPANY_UPDATES.jsp


AGESON BERHAD (7145) – COMPANY UPDATES

For those who follow AGESON BERHAD (7145) closely, more than likely you are satisfied of the latest quarterly results by the company. But to be fair, I would say the company’s performance is in line with other construction player in the market. Allow me to first talk about AGES’s financial performance.

AGES had a significant growth in this quarter due to higher billing recognized from trading of construction materials. However, the normal construction activities were still hindered by the Movement Control Order and rendered the group to stop operations for a month. Do note that generally, trading only enjoys a 3% to 5% profit margin, hence the higher amount of revenue but lower net profit.

Notably, the company had a reversal of operating expenses in the preceding year corresponding quarter of RM7.34 million, as well as other operating income of RM1.08 million. Excluding the one-off items from the comparable figure, we would arrive at a RM9.99 million in net profit.

Hence, instead of a year-on-year decline in net profit of 52.22%, we would only see a 20.89% decline.

If we were to benchmark some of the companies that announced their results, such as IJM, TJSETIA, WCEHB, GDB and so forth, their results were also impacted by the Movement Control Order. Some of them had a high year-on-year growth, for example like IJM, it was mostly caused by the low base effect they had in the preceding year.

So not so say AGES had super great results, but it was inline with the whole industry’s performance.

It is also understandable that investors are concerned about the company’s operating cash flow. What we must take in account is the construction and property development segment rely on progressive billing. The more progressive a construction site had, the higher their claims and thus higher revenue and profit.

In this quarter alone, majority of the revenue was contributed by trading of construction materials and since construction activities were halted, their cashflow were impacted as well.

Besides, there are 132,716,667 ICPS converted into common shares and raised up to RM50.15 million in cash for the company. Therefore, the cash to debt level of the company is still on a manageable scale.

Last but not least, one should also give credit to AGES for delivering quarter-on-quarter growth. On a comparative note, the company achieved 32.63% due to prudent costs management as well as management shifting into trading of construction materials.

All in all, this might not be the best financial performance of AGES, but it was still satisfactory for investors. I was hoping for the company to give dividend, but perhaps prudent cash management will be a better choice.

Currently, AGES is only trading at 3.86 times PER. Which is much cheaper especially compared apple to apple with loss-making construction firms. I will not comment or buy or sell decisions but ultimately, AGES is relatively cheap to peer and deserves a much better valuation.

Posted by Bgt 9963 > 2021-08-25 16:02 |

Post removed.Why?

Posted by Adrian Wee > 2021-08-25 16:52 | Report Abuse

AGES seems to be doing well, congrats to the management

Posted by cumcumshot > 2021-08-25 20:32 | Report Abuse

AGESON... Of all the sand "contracts", merely ONE is a confirmed contract. The rest are just MOUs lah, Letter of Intent lah... Chinese say LPPL. Nothing will come out eventually. If a counter is good, price CANNOT come to 9c lah. Use your common sense.

Posted by BLee > 2021-08-25 21:36 | Report Abuse

@scrown: Correct me if I am wrong. ICPS conversion is surrender one ICPS. +0.12 to get mother shares. However, ICLS conversion is surrender one ICLS (cost $0.025) +$0.10 to get mother share and not minus out your original cost of $0.025 or four lots of ICLS to one mother share. Is it true?

25/08/2021 12:18 PM

BLee: Before ICULS revision, both ICPS and ICULS subscription price at 1 sen each. The difference only on the conversion ratio of 13:1 and 10:1 respectively. With the proposed revision, ICULS subscription price changed to 2.5 sen (higher upfront value) and ratio of 4:1. Therefore, one of the method is to surrender 1 ICULS plus 7.5 sen (equivalent 3 x 2.5 sen) to make up the surrender value of 10 sen.

Reference: PDF link at https://www.klsescreener.com/v2/announcements/view/3407373 Page 4 of 68

(ii) A combination of such number of ICULS and cash with an aggregate value equal to the ICULS Conversion Price, subject to a minimum of 1 ICULS, and paying the difference between the aggregate value of the ICULS surrendered and the ICULS Conversion Price in cash for 1 new Share.

Assuming the ICULS are fully converted into new Ageson Shares at the ICULS Conversion Price by surrendering 4 ICULS to be converted into 1 new Ageson Share.

The conversion price of ICULS of RM0.10 each, which shall be
constituted in the Trust Deed and subject to change from time to time pursuant to the provisions of the Trust Deed.

The issue price of ICULS of RM0.025 each.

Happy trading

Posted by swimwithsharkss > 2021-08-26 09:16 | Report Abuse

@BLee Good morning, yes your calculation is absolutely correct.

Posted by swimwithsharkss > 2021-08-26 09:19 | Report Abuse

When company not delivering good results - people complain.

When company delivering good results - change the topic and talk about other stuff.

Sincerely hope these operators who try to wash retailers out of the market can sleep well at night :)

Who those believe may refer to the construction outlook in the near future:

Malaysia’s construction industry is set to recover in 2021 and expand by 14.6% after construction activity was brought to a standstill across many parts of the country due to the impact of COVID-19 containment measures. However, the recovery is more a reflection of the depths to which activity fell in 2020 amid the COVID-19 lockdown, rather than a sign of resurgence, says GlobalData, a leading data and analytics company.

According to GlobalData’s report, ‘Construction in Malaysia – Key trends and opportunities to 2025 (Q2 2021)’ Malaysia’s construction activity had slowed considerably in 2019, owing to delays in several mega construction projects and an increase in unsold housing stock. This weakness was further exacerbated with the pandemic in 2020. As a result, construction value-add declined by 19.4% in real terms. The recovery in 2021 will be driven by investments in transportation and energy projects as well as affordable housing.

Posted by BLee > 2021-08-26 11:54 | Report Abuse

swimwithsharkss @BLee Good morning, yes your calculation is absolutely correct.
26/08/2021 9:16 AM

Good Morning @swimwithsharkss, a bit bz this morning, now only free to look at share market...
Good write up on construction forecast. Ageson will be bz for the next 15 years in Perak town ship development. Contract signed and 100k payed for the development commitment. If cannot export sand now, this development still required lot of sand; so might not be a problem..

Happy trading.

Posted by fable > 2021-08-26 16:09 | Report Abuse

@swimwithsharkss Thanks for the insight, hope you can share more about your opinion on AGES

Posted by icst1975 > 2021-09-01 12:13 | Report Abuse

30.06.21 Financial Report
Cash & Bank Balances 9.059m
Trade Payables & liabilities -27.090m
Tax payables -1.284m

Company is likely facing serious operating cash flow problems!!

INTANGIBLE ASSETS had increased by 58.115m to 99.079m (30.06.2021) from 40.964m (30.06.2020). This means the Company had suffered further losses of its tangible assets amounting to 58.115m in the last financial year !!

Posted by davors > 2021-09-01 12:21 | Report Abuse

careful... it may revisit 0.060...

Posted by andytfyap > 2021-09-01 12:50 | Report Abuse

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

Posted by swimwithsharkss > 2021-09-01 13:15 | Report Abuse

@icst1975 If you are new to accounting, please do not misled the normal investors.

First off, liabilities is the summary of "liability" such as trade receivables, other receivables, leases, outstanding debt and so forth. What do you mean by "Trade Payables & Liabilities"? Such nonsense.

Secondly, good construction companies like Kerjaya Prospek, TCS Group, GDB all faced negative cash flow issue. Even Lagenda Properties had negative cash flow. This is how the construction industry work. Please check your statement before misleading investors.

Posted by swimwithsharkss > 2021-09-01 13:19 | Report Abuse

@andytfyap Interesting. You claim that you are not biased and do not have personal agenda. I must declare that I'm holding AGES share to be fair to whoever are seeing this comment. May I ask you this question, why out of 57 of your account comments over 50 are in AGES?

Posted by kangedd > 2021-09-01 13:22 | Report Abuse

lol, Interesting topic, Anyhow, construction is on recovery ma XD and you complain now ?

Now construction is started to open back,

Most probably, the next wave to goreng is Construction sector ?

Posted by janitor2021 > 2021-09-01 13:22 | Report Abuse

Maybe operator hire one lo...

Posted by swimwithsharkss > 2021-09-01 13:25 | Report Abuse

@kengedd Goreng or not goreng, I do not know. But if misleading comments are in place, I can't stand to see these people sit with personal agendas trying to compress to price further. As I mentioned previously, the maximum dilutive effect of the remaining ICPS will result in "halfing" the EPS, that means double of PER.

In short, the current ~3x PER will be doubled to ~6x PER. But based on the construction companies in the market, a fair value of ~8x to ~10x forward PER should be in place. I still stood my ground on AGES being undervalued.

Posted by kangedd > 2021-09-01 13:25 | Report Abuse

hahaha so free to make comment, Not long term investor but long term monitor, Not bad, good move. XD

Posted by Newuser888 > 2021-09-01 13:26 | Report Abuse

0.09 strong support lol how to go 0.06 ??

Posted by kangedd > 2021-09-01 13:40 | Report Abuse

As a long term value investor, I got no worries with Ages. Their Fa is getting solid.

Posted by davors > 2021-09-01 13:57 | Report Abuse

0.090 is not that strong and it did went to 0.060 before on year 2020 march...
so it is not impossible to revisit...

good luck~

Posted by fable > 2021-09-01 14:22 | Report Abuse

no sign of going down to 0.06 yet, I can speculate AGES might go up to 0.15 too

Posted by 240gpark > 2021-09-01 14:40 | Report Abuse

https://www.theedgemarkets.com/article/prinsiptek-founder-foo-chu-jong-disposes-entire-stake-group-which-has-been-renamed-ageson

Posted by fable > 2021-09-01 14:40 | Report Abuse

Maybe he expecting another covid breakout again?

Posted by 240gpark > 2021-09-01 14:43 | Report Abuse

HHahah... I don't mind see negative comment but make sure you guys strong enough to counter it.....

Posted by davors > 2021-09-01 15:33 | Report Abuse

haha of course you can speculate that, if it happens i will say congratulations... :)

Posted by Newuser888 > 2021-09-01 15:46 | Report Abuse

walao.. 2020 march market crash which stock not down oh wtf

Posted by kriss990 > 2021-09-01 15:49 | Report Abuse

property is lagging... soon will be shine again

Posted by 240gpark > 2021-09-02 09:12 | Report Abuse

Morning

Posted by rapparesh > 2021-09-02 16:14 | Report Abuse

Will the remaining months be contruction sector turn to shine? I think time will tell