MMAG: MMAG HOLDINGS BERHAD (0034)

MMAG

0034 S

0.045

⤒

MMAG

0034

S idss

MMAG HOLDINGS BERHAD KLSE Summary

Ace Market : Transportation & Logistics Services

0.045

0.000 (0.0%)

View more market depths

High	0.000
Low	0.000
Open	0.000
Volume	-
Volume (B/S)	4,647,200 / 12,758,700
Price Bid/Ask	0.045 / 0.050

52w	0.040 - 0.800
ROE	11.26
P/E	3.21
EPS	1.40
DPS
DY	0.00%

NTA	0.1243
P/B	0.36
RPS	40.49
PSR	0.11
Market Cap	104.5M
Shares (mil)	2,321.20

YoY

RQoQ RYoY

CAGR

3Y 46.8% TTM 60.5%

5Y 26.3% TTM 32.3%

RSI(14)	Oversold 27.4
Stochastic(14)	Oversold 14.3
Stochastic RSI(14)	Overbought 80.1
Average Volume (3M)	981,300
Relative Volume	0.4

30-days Price Larger Chart Technical Charting

EPS	DPS	NTA	Revenue	P/L	Quarter	Q Date	Financial Year	Announced	ROE	QoQ%	YoY%
30 Sep, 2025
-0.5900	0.000	0.1243	196.1m	-13.6m	4	2025-09-30	30 Sep, 2025	2025-11-27	-4.7%	195.2%	164.8%
0.6200	0.000	0.1302	226.4m	14.3m	3	2025-06-30	30 Sep, 2025	2025-08-27	4.8%	120.1%	289%
0.2800	0.000	0.1241	275.3m	6.5m	2	2025-03-31	30 Sep, 2025	2025-05-30	2.3%	74.3%	105.9%
1.1000	0.000	0.1229	242.1m	25.4m	1	2024-12-31	30 Sep, 2025	2025-02-27	9.0%	20.6%	23600%
30 Sep, 2024
1.0300	0.000	0.1249	175.9m	21.0m	-	2024-09-30	30 Sep, 2024	2024-11-11	8.2%	377.5%	812.1%
-0.4300	0.000	0.1106	156.3m	-7.6m	-	2024-06-30	30 Sep, 2024	2024-08-29	-3.9%	93.2%	5602.3%
31 Mar, 2024
-2.7400	0.000	0.0475	138.2m	-111.2m	4	2024-03-31	31 Mar, 2024	2024-05-31	-57.7%	102876.9%	110.7%
0.0000	0.000	0.0704	121.3m	-108.0k	3	2023-12-31	31 Mar, 2024	2024-02-29	0.0%	104.7%	99%
0.1000	0.000	0.0704	121.2m	2.3m	2	2023-09-30	31 Mar, 2024	2023-11-28	1.4%	1834.6%	194.5%
-0.0100	0.000	0.0704	111.5m	-133.0k	1	2023-06-30	31 Mar, 2024	2023-08-29	-0.1%	99.7%	98.2%
31 Mar, 2023
-2.0100	0.000	0.0715	102.4m	-48.7m	4	2023-03-31	31 Mar, 2023	2023-05-30	-28.1%	335.1%	1289.6%
-0.5000	0.000	0.1613	127.9m	-11.2m	3	2022-12-31	31 Mar, 2023	2023-02-23	-3.1%	357.9%	0.4%
-0.1400	0.000	0.2222	90.8m	-2.4m	2	2022-09-30	31 Mar, 2023	2022-11-30	-0.6%	67.1%	72.2%
-0.5500	0.000	0.2236	101.0m	-7.4m	1	2022-06-30	31 Mar, 2023	2022-08-30	-2.5%	227.2%	10.4%
31 Mar, 2022
0.4400	0.000	0.2883	67.9m	5.8m	4	2022-03-31	31 Mar, 2022	2022-05-31	1.5%	152%	139.2%
-0.9600	0.000	0.1798	83.1m	-11.2m	3	2021-12-31	31 Mar, 2022	2022-02-24	-5.3%	27.8%	23.6%
-0.7700	0.000	0.1890	134.1m	-8.8m	2	2021-09-30	31 Mar, 2022	2021-11-25	-4.1%	30.6%	268.4%
-0.5900	0.000	0.2063	99.6m	-6.7m	1	2021-06-30	31 Mar, 2022	2021-08-30	-2.9%	54.8%	55.1%
31 Mar, 2021
-1.3300	0.000	0.1934	49.4m	-14.9m	4	2021-03-31	31 Mar, 2021	2021-05-31	-6.9%	63.9%	52.2%
-0.8500	0.000	0.1518	66.2m	-9.1m	3	2020-12-31	31 Mar, 2021	2021-02-25	-5.6%	274.1%	31.2%
0.6200	0.000	0.1429	62.6m	5.2m	2	2020-09-30	31 Mar, 2021	2020-11-26	4.3%	220.3%	199.4%
-0.5500	0.000	0.1384	44.6m	-4.3m	1	2020-06-30	31 Mar, 2021	2020-08-21	-4.0%	55.7%	26.8%
31 Mar, 2020
-1.3600	0.000	0.1403	44.3m	-9.8m	4	2020-03-31	31 Mar, 2020	2020-06-18	-9.7%	41.3%	6.4%
-0.9700	0.000	0.1545	59.8m	-6.9m	3	2019-12-31	31 Mar, 2020	2020-02-27	-6.3%	31.9%	6.8%
-0.7500	0.000	0.1639	44.0m	-5.2m	2	2019-09-30	31 Mar, 2020	2019-11-28	-4.6%	11.4%	85%
-0.8700	0.000	0.1723	34.4m	-5.9m	1	2019-06-30	31 Mar, 2020	2019-08-29	-5.0%	35.5%	62%
31 Mar, 2019
-1.3800	0.000	0.1795	38.6m	-9.2m	4	2019-03-31	31 Mar, 2019	2019-05-30	-7.7%	41.7%	7.6%
-1.0300	0.000	0.1945	17.2m	-6.5m	3	2018-12-31	31 Mar, 2019	2019-02-28	-5.3%	128.7%	47.2%
-0.5400	0.000	0.2091	11.1m	-2.8m	2	2018-09-30	31 Mar, 2019	2018-11-28	-2.6%	22.5%	41%
-0.7900	0.000	0.2312	8.2m	-3.7m	1	2018-06-30	31 Mar, 2019	2018-08-28	-3.4%	63.3%	120.6%
31 Mar, 2018
-2.1900	0.000	0.2406	24.0m	-10.0m	4	2018-03-31	31 Mar, 2018	2018-05-30	-9.1%	126.2%	20.6%
-1.2300	0.000	0.1341	30.4m	-4.4m	3	2017-12-31	31 Mar, 2018	2018-02-26	-9.2%	118.9%	44.1%
-0.7500	0.000	0.0674	39.1m	-2.0m	2	2017-09-30	31 Mar, 2018	2017-11-29	-11.1%	21.4%	35.1%
-0.1700	0.000	0.0666	47.7m	-1.7m	1	2017-06-30	31 Mar, 2018	2017-08-29	-2.6%	86.7%	39.2%
31 Mar, 2017
-1.3000	0.000	0.0482	47.4m	-12.4m	4	2017-03-31	31 Mar, 2017	2017-05-29	-27.0%	307%	68.5%
-0.3200	0.000	0.0615	66.3m	-3.1m	3	2016-12-31	31 Mar, 2017	2017-02-23	-5.2%	1.4%	28.7%
-0.3200	0.000	0.0651	71.3m	-3.1m	2	2016-09-30	31 Mar, 2017	2016-11-25	-4.9%	13.6%	27%
-0.2900	0.000	0.0684	63.0m	-2.7m	1	2016-06-30	31 Mar, 2017	2016-08-26	-4.2%	63.1%	2.9%
31 Mar, 2016
-0.7700	0.000	0.0713	58.9m	-7.4m	4	2016-03-31	31 Mar, 2016	2016-05-27	-10.8%	72.2%	34.8%
-0.4500	0.000	0.0790	68.2m	-4.3m	3	2015-12-31	31 Mar, 2016	2016-02-26	-5.7%	0.9%	1774.2%
-0.4500	0.000	0.0835	56.9m	-4.2m	2	2015-09-30	31 Mar, 2016	2015-11-26	-5.4%	51.2%	62.1%
-0.2900	0.000	0.0880	49.0m	-2.8m	1	2015-06-30	31 Mar, 2016	2015-08-27	-3.3%	75.2%	15%
31 Mar, 2015
-1.1900	0.000	0.0909	118.4m	-11.3m	4	2015-03-31	31 Mar, 2015	2015-05-28	-13.1%	4525.8%	1165.9%
0.0300	0.000	0.1024	99.3m	256.0k	3	2014-12-31	31 Mar, 2015	2015-02-13	0.3%	102.3%	96.5%
-1.2500	0.000	0.1023	95.7m	-11.2m	2	2014-09-30	31 Mar, 2015	2014-11-27	-12.2%	558.5%	172.4%
-0.2900	0.000	0.1122	93.6m	2.4m	1	2014-06-30	31 Mar, 2015	2014-09-02	-2.6%	142.6%	7.1%
31 Mar, 2014
0.1200	0.000	0.1150	133.0m	1.0m	4	2014-03-31	31 Mar, 2014	2014-05-30	1.0%	86.4%	1963%
0.9100	0.000	0.1052	164.2m	7.4m	3	2013-12-31	31 Mar, 2014	2014-02-27	8.7%	279.8%	98.4%
-0.5400	0.000	0.0935	168.9m	-4.1m	2	2013-09-30	31 Mar, 2014	2013-11-28	-5.8%	56.3%	317.1%
-0.3800	0.000	0.0989	150.6m	-2.6m	1	2013-06-30	31 Mar, 2014	2013-08-29	-3.8%	3601.4%	181.7%
31 Mar, 2013
-0.0100	0.000	0.0990	136.3m	-71.0k	4	2013-03-31	31 Mar, 2013	2013-05-30	-0.1%	101.9%	94.5%
0.6400	0.000	0.0991	143.6m	3.7m	3	2012-12-31	31 Mar, 2013	2013-02-25	6.5%	478%	778.1%
31 Dec, 2012
-0.1800	0.000	0.0927	143.7m	-985.0k	2	2012-09-30	31 Dec, 2012	2012-11-22	-1.9%	130.6%	2.4%
31 Mar, 2013
0.5900	0.000	0.0940	129.8m	3.2m	1	2012-06-30	31 Mar, 2013	2012-08-16	6.3%	349%	1006.2%
31 Mar, 2012
-0.2800	0.000	0.8810	37.5m	-1.3m	4	2012-03-31	31 Mar, 2012	2012-10-31	-0.3%	135.3%	293.9%
-0.1400	0.000	0.0867	13.0m	-549.0k	3	2011-12-31	31 Mar, 2012	2012-02-28	-1.6%	45.6%	13%
-0.3000	0.000	0.0882	10.7m	-1.0m	2	2011-09-30	31 Mar, 2012	2011-11-08	-3.4%	184.2%	175.7%
-0.2400	0.000	0.0801	2.8m	-355.0k	1	2011-06-30	31 Mar, 2012	2011-08-09	-3.0%	8.2%	53.7%
31 Mar, 2011
-0.2500	0.000	0.0825	2.6m	-328.0k	4	2011-03-31	31 Mar, 2011	2011-05-30	-3.0%	32.5%	45.8%
-0.3700	0.000	0.0821	1.4m	-486.0k	3	2010-12-31	31 Mar, 2011	2011-02-24	-4.5%	32.8%	68.5%
-0.2800	0.000	0.0868	922.0k	-366.0k	2	2010-09-30	31 Mar, 2011	2010-12-08	-3.2%	58.4%	40.2%
-0.1700	0.000	0.8850	1.3m	-231.0k	1	2010-06-30	31 Mar, 2011	2010-08-27	-0.2%	58.3%	59%
31 Mar, 2010
-0.4200	0.000	0.0907	1.5m	-554.0k	4	2010-03-31	31 Mar, 2010	2010-05-26	-4.6%	64%	66.5%
-1.1600	0.000	0.0949	994.0k	-1.5m	3	2009-12-31	31 Mar, 2010	2010-02-24	-12.2%	151.8%	448.4%
-0.4600	0.000	0.1065	1.4m	-612.0k	2	2009-09-30	31 Mar, 2010	2009-11-25	-4.3%	8.7%	50%
-0.4300	0.000	0.1111	1.4m	-563.0k	1	2009-06-30	31 Mar, 2010	2009-08-27	-3.9%	66%	2.7%
31 Mar, 2009
-1.2500	0.000	0.1154	1.6m	-1.7m	4	2009-03-31	31 Mar, 2009	2009-05-29	-10.8%	488.6%	33.7%
-0.2100	0.000	0.1237	3.4m	-281.0k	3	2008-12-31	31 Mar, 2009	2009-02-27	-1.7%	31.1%	80.1%
-0.3100	0.000	0.1258	3.5m	-408.0k	2	2008-09-30	31 Mar, 2009	2008-11-26	-2.5%	25.5%	51.5%
-0.4100	0.000	0.1289	3.1m	-548.0k	1	2008-06-30	31 Mar, 2009	2008-08-29	-3.2%	78%	15.8%
31 Mar, 2008
-1.8900	0.000	0.1346	2.9m	-2.5m	4	2008-03-31	31 Mar, 2008	2008-05-29	-14.0%	76.6%	212.3%
-1.0700	0.000	0.1549	2.2m	-1.4m	3	2007-12-31	31 Mar, 2008	2008-02-27	-6.9%	68%	176%
-0.6400	0.000	0.1640	2.1m	-841.0k	2	2007-09-30	31 Mar, 2008	2007-11-23	-3.9%	29.2%	708.7%
-0.4900	0.000	0.1704	2.4m	-651.0k	1	2007-06-30	31 Mar, 2008	2007-08-30	-2.9%	18.5%	71.3%
31 Mar, 2007
-0.6000	0.000	0.1760	2.3m	-799.0k	4	2007-03-31	31 Mar, 2007	2007-05-30	-3.4%	56.1%	61.5%
-0.3900	0.000	0.1820	1.8m	-512.0k	3	2006-12-31	31 Mar, 2007	2007-02-15	-2.1%	392.3%	14.3%
-0.0800	0.000	0.1859	2.9m	-104.0k	2	2006-09-30	31 Mar, 2007	2006-11-29	-0.4%	72.6%	139%
-0.2900	0.000	0.1867	2.5m	-380.0k	1	2006-06-30	31 Mar, 2007	2006-08-28	-1.6%	81.7%	299%
31 Mar, 2006
-1.5700	0.000	0.1898	2.2m	-2.1m	4	2006-03-31	31 Mar, 2006	2006-05-30	-8.3%	363.2%	665.4%
-0.3400	0.000	0.2055	2.2m	-448.0k	3	2005-12-31	31 Mar, 2006	2006-02-28	-1.7%	267.8%	152.6%
0.2000	0.000	0.1380	3.6m	267.0k	2	2005-09-30	31 Mar, 2006	2005-11-29	1.4%	39.8%	48.3%
0.1400	0.000	0.1476	3.1m	191.0k	1	2005-06-30	31 Mar, 2006	2005-08-30	0.9%	48%	63.6%
31 Mar, 2005
0.2800	0.000	0.1553	3.7m	367.0k	4	2005-03-31	31 Mar, 2005	2005-05-30	1.8%	56.9%	71.9%
0.6400	0.000	0.1573	4.3m	851.0k	3	2004-12-31	31 Mar, 2005	2005-02-25	4.1%	64.9%	24.2%
0.3900	0.000	0.1554	4.2m	516.0k	2	2004-09-30	31 Mar, 2005	2004-12-15	2.5%	1.7%	0%
0.4000	0.000	0.1585	3.6m	525.0k	1	2004-06-30	31 Mar, 2005	2004-08-27	2.5%	59.8%	0%
31 Mar, 2004
1.1500	0.000	0.1596	3.5m	1.3m	4	2004-03-31	31 Mar, 2004	2004-06-24	7.2%	16.3%	0%
1.1400	0.000	0.0392	2.7m	1.1m	3	2003-12-31	31 Mar, 2004	2004-02-25	29.1%	0%	0%

Financial Year	Revenue ('000)	Net ('000)	EPS	DP%	Net %	Report
30 Sep, 2025	939,820	32,582	1.4100	-
30 Sep, 2024	332,213	13,458	0.6000	-	112.3%	View
31 Mar, 2024	492,230	-109,149	-2.6500	-	56.6%	View
31 Mar, 2023	422,096	-69,704	-3.2000	-	233.4%	View
31 Mar, 2022	384,710	-20,906	-1.8800	-	9.5%	View
31 Mar, 2021	222,795	-23,096	-2.1100	-	17.2%	View
31 Mar, 2020	182,541	-27,879	-3.9500	-	25.8%	View
31 Mar, 2019	75,094	-22,169	-3.7400	-	22.9%	View
31 Mar, 2018	141,218	-18,040	-4.3400	-	15.4%	View
31 Mar, 2017	248,061	-21,321	-2.2300	-	13.9%	View
31 Mar, 2016	232,993	-18,723	-1.9600	-	5.6%	View
31 Mar, 2015	407,026	-19,825	-2.7000	-	1,297.9%	View
31 Mar, 2014	616,701	1,655	0.1100	-	75.9%	View
31 Mar, 2013	409,786	6,869	1.2200	-	797.4%	View
31 Dec, 2012	143,723	-985	-0.1800	-	69.3%	View
31 Mar, 2012	63,930	-3,205	-0.9600	-	127.1%	View
31 Mar, 2011	6,231	-1,411	-1.0700	-	56.9%	View
31 Mar, 2010	5,346	-3,270	-2.4700	-	13.1%	View
31 Mar, 2009	11,549	-2,891	-2.1800	-	46.5%	View
31 Mar, 2008	9,658	-5,400	-4.0900	-	200.8%	View
31 Mar, 2007	9,489	-1,795	-1.3600	-	13.1%	View
31 Mar, 2006	11,175	-2,065	-1.5700	-	191.4%	View
31 Mar, 2005	15,909	2,259	1.7100	-	6.9%	View
31 Mar, 2004	6,177	2,427	2.2900	-		View

Announced	Financial Year	Subject	EX Date	Payment Date	Amount	Indicator

No dividends

Announced	EX Date	Subject	Ratio	Offer
07 Dec 2023	20 Dec 2023	Rights Issue (warrant)	6.0000 : 1.0000	0.1000	View
16 Oct 2023	27 Oct 2023	Share Consolidation	1.0000 : 10.0000		View
20 Oct 2017	01 Nov 2017	Rights Issue (warrant)	1 : 2	0.2500	View
20 Oct 2017	01 Nov 2017	Rights Issue	2 : 1	0.0500	View
28 Jun 2017	10 Jul 2017	Share Consolidation	4 : 1		View
09 Jun 2011	21 Jun 2011	Rights Issue (warrant)	2 : 1		View

Name	Price	Change	Volume	Gearing	Premium	Premium %	Maturity
MMAG-WC	0.025	0	0	1.8	0.13	288.89	2029-01-15	View

Announced	Date Change	Type	Shares	Name
13 Jan 2026	09 Jan 2026	Disposed	32,600,000	DATO' FAM CHEE WAY
13 Jan 2026	09 Jan 2026	Disposed	32,600,000	VELOCITY CAPITAL PARTNER BERHAD
13 Jan 2026	12 Jan 2026	Disposed	117,400,000	DB ATLANTIC CAPITAL (M) SDN. BHD.
05 Jan 2026	31 Dec 2025	Disposed	462,000,000	DATO' SERI FARHASH WAFA SALVADOR J.P
28 Mar 2025	26 Mar 2025	Acquired	462,000,000	DATUK WIRA FARHASH WAFA SALVADOR J.P
27 Mar 2025	27 Mar 2025	Disposed	175,000,000	MADAM CHAN SWEE YING
27 Mar 2025	27 Mar 2025	Disposed	175,000,000	MADAM CHAN SWEE YING
04 Mar 2025	03 Mar 2025	Disposed	150,000,000	MADAM CHAN SWEE YING
04 Mar 2025	03 Mar 2025	Acquired	150,000,000	VELOCITY CAPITAL PARTNER BERHAD

Recent News

Bursa Malaysia opens 0.63pct higher, hits fresh high since June 2018

KUALA LUMPUR: Bursa Malaysia extended its upward momentum on Tuesday, opening 0.63 per cent higher to reach a new peak not seen since June 2018, supported by continued foreign fund inflows following heavy outflows last year.

27 Jan, 2026 10:26am - 1 day ago NST
Bursa Malaysia continues uptrend at midday, CI stays above 1,700

KUALA LUMPUR: Bursa Malaysia’s benchmark index extended its gains at midday, holding above the 1,700 level, on sustained buying interest in selected heavyweight stocks despite mixed performances in regional markets.

21 Jan, 2026 13:37pm - 1 week ago NST
Bursa Malaysia continues uptrend at midday, CI stays above 1,700

KUALA LUMPUR: Bursa Malaysia's benchmark index extended its gains at midday, holding above the 1,700 level, on sustained buying interest in selected heavyweight stocks despite mixed performances in regional markets.

21 Jan, 2026 13:37pm - 1 week ago TheStar
Farhash has exited MMAG but NexG and Velocity Capital remain exposed

DID Lady Luck smile on Datuk Seri Farhash Wafa Salvador Rizal Mubarak, who until recently was the largest shareholder of MMAG Holdings Bhd (KL:MMAG)? On Dec 31, 2025, Farhash managed to sell his 19.9% stake in MMAG at a hefty premium over the prevailing market price in direct off-...

20 Jan, 2026 15:00pm - 1 week ago TheEdge
Frankly Speaking: Velocity’s MMAG exit puts strategy under spotlight

Velocity sold MMAG stake amid market volatility, incurring significant losses. MMAG faces investor confidence challenges as operations post-net loss.

19 Jan, 2026 10:30am - 1 week ago TheEdge

Recent Announcements

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : Intention to Deal During Closed Period

2026-01-26 - 5:09 pm
Change in Audit Committee - ENCIK AZMAN BIN MAT ALI

2026-01-23 - 5:24 pm
Change in Nomination Committee - ENCIK AZMAN BIN MAT ALI

2026-01-23 - 5:24 pm
Change in Nomination Committee - TUAN HAJI NOORZAINY BIN HAJI MOHD NOOR

2026-01-23 - 5:24 pm
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RECURRENT RELATED PARTY TRANSACTIONS

MMAG HOLDINGS BERHAD ("MMAG" OR THE "COMPANY") - RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE AND/OR TRADING NATURE
2026-01-19 - 6:40 pm

Comments

Albert Len

3 Like · Reply

Al 分析（哈哈哈）
庄家 / 资金运作视角”，把 MMAG 这一整盘局拆给你看（不绕弯、只讲逻辑）。

⸻

一、这不是普通投资，是三段式资金局

第一段：低价集中筹码（2024–2025 初）

核心人物：陈瑞英（Chan Swee Ying）
• 2024 年供股：
• 10 仙认购 4 亿股
• 实际是“救公司 + 拿绝对低成本筹码”
• 她的真实成本：
? 接近 10 仙或更低

这是庄家最经典的底仓来源。

⸻

第二段：高位场外转移（2025 年 3 月）

接盘者：
• Farhash
• NexG
• Velocity Capital

成交价：40 仙（场外）
当日市价：66 仙

⚠️ 表面看是「65% 折让」，但注意：

40 仙是“故事价”，不是市价

这一步的真正目的不是赚钱，而是：
• 把低成本筹码
• 转移到**“有背景 / 有融资能力 / 可质押”**的手上

? Farhash 的关键角色出现了

⸻

二、Farhash 为什么“被选中”？

他不是因为投资眼光，而是因为三点：

① 身份价值
• 前首相政治秘书
• 名字本身 = 信用背书

② 可融资
• 股票可质押给 Velocity Capital
• 股 → 抵押 → 现金 → 再运作

③ 可当“中转站”
• 不一定是最终持有人
• 而是筹码漂白 + 时间缓冲器

? 这类人，市场叫：

“白手套型股东”

⸻

三、为什么一定要来一场“11 月股灾”？

这是必要步骤，不是意外

如果不暴跌：
• Farhash 出不了货
• NexG / Velocity 账面太高
• 新资金不敢进

暴跌的好处只有一个字：

? 洗
• 洗散户
• 洗短线
• 洗关注度
• 洗监管风险

⸻

四、12 月 31 日那笔 18.9 仙交易，才是关键

你要注意三个“异常”：

① 远高于市价（7 仙）

说明：
• 买家不是投机者
• 是“已在局内的人”

⸻

② 买家是 25 岁的 Future Star
• 年龄不重要
• 身份干净、结构简单

? 标准 “新壳股东” 模式

⸻

③ 股份继续质押给 Velocity

⚠️ 这点非常重要：

筹码没有真正离开系统

只是从：
• Farhash
➡️ 换到
• 新“名义持有人”

⸻

五、Farhash 真的是输家吗？

表面：
• 亏 RM97.48m

实际：
• 成功下庄
• 解掉政治 + 市场风险
• 可能完成了阶段性任务

? 他更像是：

完成使命的“过桥人”

⸻

六、真正被套的是谁？

1️⃣ NexG
• 真金白银
• 账面大亏
• 没下庄通道

2️⃣ Velocity Capital
• 资产 76% 是“投资+融资应收”
• 股价下去 = 抵押物蒸发

? 这两家才是被锁在局里的人

⸻

七、MMAG 还有戏吗？（重点）

短期：

❌ 不会立刻拉
❌ 不会给散户信号

中期：

✔️ 如果看到：
• 量开始温和放大
• 不再破 7 仙
• 突然有航空 / 物流新故事

? 那才是第二轮

但前提只有一个：

Velocity 是否能承受继续“陪局”

⸻

最后一段实话（给你懂庄的人）

MMAG 不是好公司
但它是：

结构极脏、筹码复杂、适合“做局”的股票

这种票：
• ❌ 不适合长期投资
• ✔️ 只适合看结构、等异动