Forum active here but mostly useless comments

Unfortunately insas boss Thong who controls board does not care.
Inari going up as US economy doing ok and rate cuts coming. Insas could sell all shares and return money to shareholders ! Will never happen as board are useless and follow only what thong says . Also thong owns a lot more than declared of insas so that’s why no shark.. even shark will get trapped

Insas will keep dropping. Everyone who bought when it went to 1.31 cutting losses and dumping shares. Can buy back soon at 0.85… each week though Thong will hate the edge as will publicly see how bad share price is …

Why everyone obsessed with Jaks discussion on insas board. Why don’t you talk there on jaks board !

Why not complain @sslee , you seem to always support insas board and thong but also lose confidence and sell shares.

Share buyback also a Thong/Board con to try and make shareholders get excited when they know they will not do it. If they buyback and keep in treasury then will not effect shareholder % , only if they cancel shares does it effect. 30 million shares in treasury already.

Insas will have to write off all debts from hohup, Omesti and microlink. Share still dropping and no cash. All Thong and board screw up. They have no idea how to invest!! Just give shareholders back cash then waste your own money!!!!

@sslee , only is ok if company does lot go bankrupt. Hohup, omesti and microlink all not in good place. If you had confidence in management you would be a large shareholder still, it seems you already lost confidence hence you sold and I am sure made a good profit but still shows you don’t think insas share worth holding

Like hohup , omesti and other thong investments there are all out of cash. Microlink has no money to pay its debts and this will just get worse

Insas Board do not let Thong tell you you do this !!!! We will never see the money back. Microlink is not in a good financial place…. Microlink Solutions Bhd plans to raise up to RM89.37 million via a rights issue of redeemable preference shares (RPS) with detachable warrants to repay its bank borrowings and finance working capital. The issue will offer up to 89.37 million redeemable preference shares (RPS) at RM1 each, with 268.1 million free detachable warrants, on a basis of one RPS and three warrants for every 12 existing shares. The tenure of the RPS is five years and it has a dividend rate of 6% per annum based on the issue price. Microlink plans RM89 mil rights issue to finance debt repayment, working capital

Unfortunately Thong reputation ruined! Rumour he is the issue on the board and cause major shareholders to not agree. Hohup, Omesti and microlink all failing and he Apparantly is the centre. He even force his son on the board upsetting both Omesti and Microlink board. But he did not care and say his (insas) cash controls so they have no choice… all like how he runs Insas !

Can you both share email and get off this board. You are ruining it for others!!!

Omesti down 32% as well now. Thong and Board have no clue what they are doing. Just wasting shareholder money

Omesti a basket case, it’s investment in microlink also useless and hohup. Thong and current board all responsible. Thong even sits on the boards ! He recently ran away from hohup. All about to be worthless! Incompetent board insas has and independent directors even more so as they are suppose to not be simple yes men who take cash thrown and them and look the other way…

Microlink limit down! Another crap Thong investment!! He will waste all the money in the bank and not give it to shareholders!!

Insas uncle counter that does not know what it is …

Thong will never buy, he is too tight and measly. Who bother when you have a board who don’t care about shareholders and do anything you say and just take the cash !!

Thing resign so he cannot be held accountable by shareholder. He show his true colours and wants to hide and not face shareholder. He resign from Hohup to avoid being director when it go bust, instead of representing insas disasterous invest he also run. Omesti next he will run as well. He appoint his useless son to microlink and not to insas also so he cannot be asked why thong senior so terrible at investment and returning funds to shareholders. You ask anyone who insas ceo is they still think thong, current ceo just there as puppet and is useless for shareholders.

@sslee yes thanks for that mention, made a very good profit on that. Exited just now :-)

@sslee issue is the thong and current board think they know everything when they have failed at most. The only reason share price went up was market though thong and useless board being kicked out but phantom raider… just give shareholders special dividend then do what ever they want as they will just waste all the cash otherwise. Luckily sold down as insas for one week only reached its decades old ipo price. It will keep sliding back to 80-90 .

Board and Thing want low share price, will never use buy back, let share plummet so crap dividend looks better and excuse for them whilst they take shareholder cash out back door… hohup results out terrible , going bust. Omesti also terrible. Thong was lucky with inari , he will waste all the cash in the bank as has no idea how to invest. Buy more shop lot get 3% return he thinks great investment.

@sslee very different from being told what to do. Also shows independent directors are not independent. It undermines there answers.

@sslee , the ceo admission of what he has done means he admits that the rest of the directors gave a false statement at the AGM. I have passed his comment on. Thanks

Thanks @sslee, I do like the way you deliver fact based assessments.
As you outline everything is stuck and that I assume is why the market does not give insas a good share valuation compared to assets. How will adding more assets at a share discount valuation of 60% help ?
Cash at bank has a discounted valuation, so does inari and m&a let alone other valuable assets. All at a minimum 60% discount to share price.
If they go invest rm1 billion will market just value as 400 million as market sees shareholding and control as an issue like they always have ?

In the annual report he only has 462k shares.. that is very sad for a CEO and how much money he has.. why he does not mind giving such bad dividend and does not care about share price…. Just gamble cash on investments

Out of interest, how do I see how many shares Dato Wong has and his sales ? One place I looked he seems to have very little shares …

I am sorry @sslee but if you are being asked by CEO about investments and Indonesia I really have no confidence in the board. If Thong wants to throw his money away with the board help and waste it then either do a buy out or give bumper dividend and go do it with your own cash. As I said other than inari most business they invest in and Thing sits in the board all wasted cash and are in trouble. Hohup so bad Thong resigned trying to distance himself from mess he is board director and insas representative. Same for Omesti, another dead company burned all the cash , thing also always been board member there. So there is no track record for making investments that actually work. Anyone can invest … just give shareholders money back and he can go waste his own money.

Insas shares for 20 years never even got above price after IPO , now the board thinks it knows how to create shareholder value having failed for so long. An incompetent board sadly thinks it is competent. Of course they say they are doing there fiduciary duty, Thing told them to say that … ironic

Board directors are also dumping there shares as quickly as they can so they do not seem confident in what Thong is planning either. Of course they will never tell him that as they will lose there river of cash …

@sslee the Insas board other than investing in Inari have done very bad with other investments and failed as directors to increase the shareholders value. The only value shareholders want is a special divided and share buy back. Both Thong has told the board not to do and hence Insas share price is so bad. Omesti and hohup investment for example complete failures. Car hire also failure. Thong is privately doing his own property development like his project in Bukit Damansara to make his own money. Last thing I would want is this board being told by Thong where to invest lots of cash. Now is not the time to be making big investments in the market. Sadly something is going on which is why they are selling shares and as you say to make a gain on disposal as most other investments have been bad. Board can then pay themselves in the back , take more money and still shareholders lose out.

Some inari share sales .. Is that Thong selling 2 million inari shares ? So he makes money from a share price going up in another company but refuses to do same for Insas !

Thong via mainly his investment years ago in inari and his work with them has made Insas valuable. I do not disagree with that.
But for minority shareholders return via share price or dividend is the measure of value in a listed company. There he has failed and the board supports that.

The Directors say long-term value as some attempt to cover their incompetence and that they are just doing what they are told and not the best for the company.
I just checked; in 2000, the insas share price was higher than it is today 24 years later!!
If that does not tell you the current directors are not fit for their jobs, nothing else does!!!

It also states no major shareholder has asked for an application for waiver but the board is going to do it anyway. Talk about looking after one shareholder and not caring about the rest …

Insas Directors are in the hot seat.
Shareholders repeatedly declare how bad they are doing in returning value to shareholders through share price and dividends and NO share buyback still. It is like they want the share price to be this terrible.
we know they are not running the company for minority shareholders and only for Thong...
There replies to questions when so many shareholders complain about such a low dividend are textbook avoidance. They might have a cash call.... there is over 1 billion in cash and M&A now a separate listed company and raise funds which is why from a 100% owned company it dropped so much... complete coverup, Thong probably wrote there answers.
They even admit "The Board highly values inputs, views and opinion from all shareholders including
the controlling shareholder, " .. if they did we would have a much bigger dividend, but they have gotten rich and want to keep there directors fees and other money so do as they are told.
They say "We are cautiously optimistic that FY2024 will remain profitable" mainly from Inari as well so give a special dividend!!
https://www.insas.net/pdf/Appendix%20B_Key%20Matters%20Discussed_61st%20AGM.pdf

Insas over 1 billion cash and major shareholding in profitable strong company and little debt. Cannot even compare to capital A , which looks like it will get delisted.

It's great to see Inari share up and strong. Lots of value and also a lot of cash from the rights issue to still expand. Insa's share price is next to Rocket, the biggest shareholder in Inari; the share price is 90 cents, but NTAB is approaching RM4 now. Cheapest stock in bursa, also has RM1.1 billion in cash....

With Inari up Insas is now most undervalued share on bursa. NTBA approaching RM4, share price 90 cents!

If you review the financials of the company, you will see a 2.5 sen dividend is a very poor performance. the interest on cash in bank has a higher return!
Thing treats this as his own pet company and does not like shareholders.
I had a meeting with other Insas shareholders and no one says anything good about Thong or how he manages Insas. If he had not been good/lucky with inari he would be just another businessman making little money.
It is a deep shame as he could have a very opposite reputation if he gave shareholders their own money back in a special dividend,

EPF are useless ... anytime there is momentum, they just dump millions of shares and kill the share price rising. If they had any common sense, they would let the share price rise and then later sell. It would make a lot more money for EPF members.

Thong is so rich now he does not care. He most likely will, just like other linked companies, put his inexperienced kids on as directors to add more money to their gravy train...
If he actually wanted to or was brave enough to do the right thing, he would take it private or reward long-suffering minority shareholders, but he is not that kind of good businessman.

Insas dividend so bad the director Tan Seng Chuan has to sell his Inari shares !!
Over a Billion in cash in the bank and he is forced to sell Inari shares as Thong will not allow him to give out a proper dividend to Insas shareholders.

I have heard the repeated rumours but the buying strength of inari looks like something is happening. Hopefully so as a sale would force insas board to return funds to shareholders and it would be 3x current share price

But there are interesting links between people and 3rd party companies. I am actually enjoying this. From hohup land to revers takeover. My aim is to have enough to make current board accountable .

Unfortunately cannot say that yet…For this and other matters that we have been informed of need to be 100% confirmed before saying anything .

@sslee, my team had to go back a very long time but getting some interesting info on Anglo ... They have tried to really hide information....

Dividend announced (pathetic amount) but is still don’t see a payment date which is very strange.

How do you think Thong son at 33 with no real experience appointed a Board Director of Microlink?

First Inari then microlink. Thong not doing well.
Technology solutions provider Microlink Solutions Bhd recorded a 98.3% decline in its net profit for the second financial quarter ended Sept 30, 2023 (2QFY2024) to RM126,000 from RM7.22 million a year ago, due to lower margin from order fulfilments and progress billings.

I think it is safe to say Thong is doing what he wants and does not care about other shareholders and board are either blindly incompetent or party to it , either way they as directors are not doing their duty as directors