AGESON Bhd must now make a concerted effort to make its clinching of the “Super Golden Bull” award count by channelling more vigour into revving up investors’ faith and shareholders’ value in the company.
Currently trading close to its 52-week low of 5.5 sen, the property developer must leverage its win at the Golden Bull Award 2021 as an inspiration to correct investor perception of the company as a “shady counter”.
The Golden Bull Award is one of Malaysia’s first and most representative annual business awards, honouring the best of businesses in the country by recognising their hard-earned success and outstanding achievements.
Organised by Business Media International (BMI), the annual Golden Bull Award serve as an effective platform to benchmark successful businesses, inspiring more businesses – both SMEs and corporates – to strive for greater excellence.
It comprises of three different categories, namely Emerging SMEs, Outstanding SMEs, and the coveted “Super Golden Bull Award”, each categorised according to annual turnover.
“It’s an honored to be recognised at this prestigious event despite the COVID-19 pandemic,” commented Ageson’s executive director Datuk Seri Chin Kok Foong. “Ageson has demonstrated its strong earnings by emphasising on operational agility and flexibility of our business divisions and operating companies which have responded proactively to the new operating conditions caused by the pandemic.”
This award is based on nomination selection on the best company by placing emphasis on the elimination by process.
During the preliminary stage and second valuation of these companies, emphasis will be based on the minimum criteria, company’s establishment period, track record, corporate information from Companies Commission Malaysia (SSM) and credit ratings of the companies.
Companies that are qualified would undergo site audit and financial audit which will be followed by the judging stage.
For its financial year ended June 30, 2021, Ageson’s net profit slid 18% to RM31.74 mil (FY6/2020: RM38.65 mil) although its revenue jumped 76% to RM166.25 mil (FY6/2020: RM94.24 mil).
Both quantitative and qualitative benchmarks are used to determine the winners and their rankings within the list with 80% concentrated on the quantitative aspect of the company while the remaining 20% will be on the qualitative criteria.
Under quantitative criteria, the judges would look at the business growth and financial performance of the company while qualitative criteria include business strategy & future plans, corporate social responsibility (CSR) and products and services.
Having being declared an award winner, the onus is now on Ageson’s shoulders to allow its investors derive true shareholders’ value as in the words of its executive director Datuk Seri Liew Kok Leong:
“The award recognition is a vote of confidence to the Group which has taken relentless proactive measures to recover from the prolonged COVID-19 pandemic and the lockdown measures to contain the virus. We have successfully adapted and evolved our business model and strategies to survive and thrive amid the COVID-19 pandemic, and we believe that Ageson could emulate this success and will continue to demonstrate strong growth going forward.”
At 2.48pm, Ageson was unchanged at 6 sen with 1.35 million shares traded thus valuing the company at RM78 mil. – Nov 12, 2021
