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21,667 comment(s). Last comment by Mikecyc at Dec 4, 2020 9:36 AM
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stockraider
19843 posts

Posted by stockraider > Jul 24, 2020 8:57 PM | Report Abuse

Dear Sslee,

Please stop being destructive & thinking of complain...complain & complain mah....!!

Insas being forward looking & has anticipated what we are thinking & will be asking mah..!!

As i say have faith with Thong to increase your wealth...he is a veteran in investment banking mah...!!

Posted by Sslee > Jul 24, 2020 8:48 PM | Report Abuse

Dear all,
Did anyone make complaint to Bursa resulting in INSAS to release the below additional information in respect of the Proposals
https://www.bursamalaysia.com/market_information/announcements/company...

The Group’s cash & bank balances and deposits of RM392.6 million as at 31 March 2020 is primarily used by its subsidiaries for working capital requirement purposes. The Group’s principal business segments are stock broking, provision of corporate finance & advisory services and structured finance (“Financial Services”); investment holding & trading; and technology investments & IT related services (“Technology”), the nature of these Group businesses require adequate and sufficient cash resources and back-up to support the business activities and to undertake any potential good and viable investment and structured finance opportunities that may arise from time to time.

As the Group’s cash is primarily used by its subsidiaries for their respective businesses and operational requirements, the Company requires to undertake the Proposed Rights Issue with Warrants to repay the bridging loans which were taken to redeem the RPS-A, and the Proposed Rights Issue is structured with a minimum subscription of RM65 million, and if the Proposed Rights Issue is fully subscribed by the shareholders, the Company will raise the maximum subscription of RM132.6 million.


Sslee
4292 posts

Posted by Sslee > Jul 25, 2020 6:34 AM | Report Abuse

Good morning stockraider,
Do you read the detail addition information and know what it about?

The addition information is actually answering the below 3 questions:
Q1: The amount raised from the issuance of RPS-A pursuant to the Rights Issue in 2015 and the breakdown of utilisation of proceeds from the issuance of RPS-A
Q2: The amount of the Group’s cash and bank balances and deposits with banks and financial institutions, based on the latest AR for FYE 30 June 2019 and latest quarterly report for the FPE 31 March 2020; and
Q3: The detailed rationale and justification for the Group to undertake the bridging loans via revolving credit facilities to redeem the RPS-A that matured in February 2020, instead of utilising the significant cash and bank balances and deposits with banks and financial institutions as stated in item (2) to redeem the RPS-A.

So what are you talking about: “Insas being forward looking & has anticipated what we are thinking & will be asking mah..!! As i say have faith with Thong to increase your wealth...he is a veteran in investment banking mah...!”

You may as well telling me “Thong had loaded up container load of Gloves stocks in INSAS and next quarter the fair value gain on financial assets is 500 million.


stockraider
19843 posts

Posted by stockraider > Jul 25, 2020 10:35 AM | Report Abuse

SSlee,

I cannot see what U R talking about or u have gone off track loh..!!

Obviously Insas is telling us, what & how they are going to use the money raised from the PA rights issue mah...!!

It obvious Thong it is a strategic thinker ALTHOUGH NOT TO RAIDER LIKING {i would prefer he launched a GO at rm 1.00 bcos of million of insas warrant close to expiry at that time} but i will agree the current proposal create alot wealth for the INSAS loyal investors with big margin of safety bcos of its big undervaluation mah..!!

This PA rights with warrant is an obvious very good thing loh...!!


leno
3930 posts

Posted by leno > Jul 25, 2020 4:35 PM | Report Abuse

BODO SOMBONG .... an ARROGANT IDIOT ... Ptui !


Philip ( buy what you understand)
4026 posts

Posted by Philip ( buy what you understand) > Jul 26, 2020 8:56 AM | Report Abuse

Fool me once, shame on me. Fool me twice shame on you.


Sslee
4292 posts

Posted by Sslee > Jul 26, 2020 9:23 AM | Report Abuse

Haha Philip,
Fool me three times, shame on both of us.


Sslee
4292 posts

Posted by Sslee > Jul 27, 2020 6:48 AM | Report Abuse

Good morning roger123,
Will send my complaint to SC and Bursa.


Sslee
4292 posts

Posted by Sslee > Jul 27, 2020 8:51 AM | Report Abuse

Dear all,
I just exercise my right in making the below complaint to SC and Bursa. I do not expect everyone to have the same opinion as me but I seek your understanding and forgiveness. Let’s agree to disagree and keep the comment civil.
https://klse.i3investor.com/blogs/Sslee_blog/2020-07-27-story-h1510751414-INSAS_Official_Compliant_to_SC_and_Bursa_to_investigate_and_reject_INSA.jsp


leno
3930 posts

Posted by leno > Jul 27, 2020 10:02 AM | Report Abuse

kakakakak ... your case is not strong .... it sound like a greedy amateur goin for fast money. Wish u all the bad luck in your greedy mission. Chia yiu !!


stockraider
19843 posts

Posted by stockraider > Jul 27, 2020 12:26 PM | Report Abuse

RAIDER COMMENT; HOW COULD UNDERMINE PUBLIC INTEREST LEH ??
AS B4 INSAS ANNOUNCE THE CORPORATE PROPOSAL INSAS WAS RM 0.65 AFTER THE ANNOUNCEMENT IT WAS RM 0.75.
SURELY IT IS BENEFICIAL FOR THE SHARE TO RISE MORE THAN 20% MAH..!

ON THE RPS RATE OF 3.8%...IF U CHECK AROUND THE BANK DEPOSIT RATE OF ONLY 2% PA SURELY THE YIELD OF MORE THAN 100% SHOULD BENEFITS ITS SHAREHOLDER MAH..!! IN ADDITION THERE ARE WARRANTS AS SWEETENER THIS IS WELL TAUGHT OFF FOR THE BENEFIT OF ALL SHAREHOLDER LOH..!!

YES THE COMPANY RAISE MORE CASH TO FURTHER STRENGTHENING INSAS BALANCE SHEET WITH ALREADY NET CASH BY SELLING SOME INARI SHARES AND THRU THIS CORPORATE EXERCISE BCOS THE MANAGEMENT VIEW THERE ARE OPPORTUNITY IN THE MOMENT OF ECONOMIC CRISIS LOH...!!

U NEED TO TAKE NOTE INSAS PAYS DIVIDEND AT 2 SENS UNLIKE ICAP AND BERKSHIRE HATHAWAY SITTING ON HUGE CASH MAH...!!

INSAS UNDERSTAND THE BALANCE NEEDS OF ALL SHAREHOLDER LOH...!

ON MAINSTREAM PAPER COMMENT ? HOW CAN U RELY ON THIS PAPER FOR ADVICE?, THESE PAPER CHASE MOMENTUM STOCKS LIKE GLOVES & TECHNOLOGY STOCK AND UNFAIRLY NEGLECTED VALUE MARGIN OF SAFETY STOCK LIKE INSAS LOH..!!

Breach 1: The application by the listed issuer undermines public interest.
The 6-months moratorium on bank loan repayments due to MCO will expire at the end of September. The very purpose for this moratorium is to ease the financial strains on individuals and companies during this unprecedented time. It is fairly reasonable to assume that most of the INSAS minority shareholders too are financially stressed. A cash rich public listed company like INSAS should in public interest pay more dividends to relief financial stress of its shareholders but instead INSAS is in breach of public interest in asking more money from shareholders.

Mainstream newspapers clearly indicate that INSAS cash call is against public interest by its headline: Asset-rich INSAS make cash call: FOR a company to make cash call when it is asset rich is indeed perplexing.
https://www.google.com/search?client=firefox-b-d&q=INSAS+cash+call...
Please allow me to illustrate how Asset-Rich and Cash-Rich INSAS are:
INSAS last 5 years financial data:


stockraider
19843 posts

Posted by stockraider > Jul 27, 2020 12:30 PM | Report Abuse

ON THIS ISSUE THE CASH CALL ALREADY EXPLAIN THAT IT NEED TO STRENGTHEN ITS BALANCE SHEET & PAYOFF SOME OF ITS LOAN IT HAS TAKEN TO REDEEMED SOME OF ITS PREVIOUS RPS.

THE MANAGEMENT DID NOT CALL FOR AN ORDINARY SHARE RIGHTS ISSUE INSTEAD IT GOES FOR RPS RIGHTS ISSUE THAT PROMISE 3.8% PA THAT IS ALMOST 100% HIGHER THAN BANK DEPOSITS RATE AS IT UNDERSTAND THE NEEDS OF SHAREHOLDER HAD PRESSED INVESTING ON BANK DEPOSITS THAT EARN MEAGRE BELOW 2% PA.

THE CORPORATE PROPOSAL IS A WIN WIN FOR MOST SHAREHOLDERS AND THE COMPANY MAH..!!

ON THE ISSUE SOME OF THE SHAREHOLDER MAY NOT ABLE TO TAKE UP THE RIGHTS MAH: YES INSAS MANAGEMENT UNDERSTAND THIS SITUATION BUT THE COMPANY ALSO KNOW SOME OF THOSE SHAREHOLDERS MAY HAVE OVER LEVERAGE IN THE HOT STOCK MARKET, RESULTING THEY CANNOT AFFORD TO SUBSCRIBE ITS RIGHTS ISSUE LOH..!!

THUS INSAS OF THE VIEW IS THAT IT IS PRUDENT THEY SELL SOME EQUITY & RAISE SOME MONEY TO SUBSCRIBE FOR INSAS RIGHTS LOH..!!

INSAS MUST ALSO TAKE CARE OF ITS BALANCE SHEET AND BE READY TO FACE THE ECONOMIC CHALLENGES & OPPORTUNITY THATS IS ONE OF THE REASON WHY INSAS SOLD SOME INARI DESPITE WE ARE CONFIDENT OF ITS LONG TERM PROSPECT LOH!


Breach 2: The listed issuer has breach corporate governance practices:

Making a cash call when INSAS is asset and cash rich


Deposits with licensed banks and financial institutions (effective interest rate from 0.01% to 4.15% and 2.55% to 2.80%) is more cost effective/efficient and to the best interest of company and all the shareholders to be used to redeem the bridging loan (interest rates ranging between 3.87% and 4.59%) compare with proposed issue up to 132,604,152 RPS (3.8% dividend) at an issue price of RM 1.00 per rights RPS together with 331,510,380 free warrants on the basis of 2 rights RPS and 5 warrants for every 10 existing INSAS shares held.
The often cite notion;“The rights issue is offered to all shareholders equitably & all shareholders have the rights & entitlement to subscribe for their respective RPS + warrants allocated to them based on no. of shares held in the company. As such, all shareholders are treated equally & enjoy full benefits & entitlements under the rights issue is basically false as unfair RI (many sweetener of free warrants at depressed conversion price) do not address conflict of interest between rich shareholders subscribe for excess allocation or buying the entitlement rights in open market and those poor shareholders unable to subscribe for their entitlement and was forced to sell their entitlement rights cheaply.


stockraider
19843 posts

Posted by stockraider > Jul 27, 2020 12:32 PM | Report Abuse

THIS SSLEE IS NAIVE LOH...!!

IF INSAS IS DEEPLY UNDERVALUE IT IS NOT THE MAIN DUTY OF THE MANAGEMENT PLAY IT UP LOH...!!

INSAS MANAGEMENT DO FEEL DEEP CONCERN OF THE DEEP UNDERVALUATION AND HAS BEEN TRYING VERY HARD TO ADDRESS THIS ISSUE LIKE PAYING HIGHER DIVIDEND, IMPROVING ITS PROFIT AND INCREASING ITS NTA BUT MARKET STILL DID NOT ACCORD INSAS A GOOD VALUATION LOH...!

YES WE CAN USE THE NUCLEAR BOMB STRATEGY OF DISTRIBUTING INARI SHARES TO INSAS SHAREHOLDER BUT WE FEEL THAT THIS IS NOT THE RIGHT TIME, INSAS STILL CAN CONTRIBUTE ALOT TO INSAS BOTTOM LINE.
THAT MAY BE A TIME IN THE FUTURE THAT INSAS MAY TAKE THE DISTRIBUTION OPTION OF INARI BUT NOW IS NOT THE RIGHT TIME.

THE CORPORATE PROPOSAL WHICH WE HAD ANNOUNCED ARE SOME MEASURE WE HELP TO ADDRESS THE GAP VALUATION RIGHT NOW MAH...!!

Breach 3: The listed issuer has not addressed all situations of conflict of interests satisfactorily
Refer: INSAS website AGM summary of key matters discussed
http://www.insas.net/generalmeetings.html

For the past 3 years, I had urged the Board to formulate a formal dividend policy and to pay reasonable/decent/respectable dividend but was turned down with reason:
2017 AGM: The Board has taken note of the shareholders’ comments and will seriously consider paying additional/special dividend and to formulate a formal dividend policy in FY 2018.

2018 AGM: The Board has considered the level of dividends to be paid to shareholders for the FY2018 but in view of the current depressed market conditions due to numerous external and internal events, the Board has exercised a conservative and prudent management to retain adequate cash reserves in order to weather any potential unforeseen deterioration in the market conditions, and to position the Group for future growth and any good investment opportunities which may arise during this downturn. The Board will evaluate and if appropriate, formulate a dividend policy when the markets recover.

2019 AGM: The Board has adopted a prudent and conservative dividend payout for this FY in view of the current difficult and uncertain market conditions, both domestic and global. The Board is also mindful of the obligations to redeem RM132 million of Redeemable Preference Shares, which are due for redemption by end February 2020. The Board will continue to give careful attention to evaluate with a view to formulate a dividend policy which will provide sustainable returns to shareholders for their continuous support, after taking into consideration various factors such as earnings, debts, growth and potential investment opportunities


rogers123
3657 posts

Posted by rogers123 > Jul 27, 2020 12:36 PM | Report Abuse

Sslee: just sell ur shares if u not satisfy. I am willing to buy from u


rogers123
3657 posts

Posted by rogers123 > Jul 27, 2020 12:37 PM | Report Abuse

A very stubborn guy. Just sell ur shares.


rogers123
3657 posts

Posted by rogers123 > Jul 27, 2020 12:38 PM | Report Abuse

stockraider <-- advise ur stubborn frenz sslee


blood7 loves kavalan solist
254 posts

Posted by blood7 loves kavalan solist > Jul 27, 2020 12:38 PM | Report Abuse

@Sslee hi, while i understand it's your right as a shareholder to make a complaint, i think you should just concentrate on the JAKS case... that one more important, really bad sss management trying to rip off shareholders; for Insas, looks like most shareholders are happy with the RCPS rights issue proposal so this should be secondary to JAKS case.... and also if you write too many letters to SC and Bursa they might not take you seriously next time, just my opinion...


leno
3930 posts

Posted by leno > Jul 27, 2020 12:51 PM | Report Abuse

The greedy old donkey has been twisting facts to serve his bad intention.
Bad people will get bad karma.
Greedy donkey will mati kena langgar.


rogers123
3657 posts

Posted by rogers123 > Jul 27, 2020 12:59 PM | Report Abuse

leno: tats is too much. Cant curse people like tat. Sslee lack.of experience


leno
3930 posts

Posted by leno > Jul 27, 2020 1:02 PM | Report Abuse

Insas is not raising money .... they are giving shareholder rights to buy RM 2 rps that worth RM 2 or more. At fair value compare to 2%FD .. the rps real value is RM 1.90 per rps. And even we compare to 3%FD (if there is any 3%FD) then the rps is worth no less than RM 1.50 per rps. Paying RM 1 for RM 1.50 worth of rps is a no brainer. Onli brainless (tarak otak and siAL) will claim majority of minority reject. When the real fact is he is the ONLY ONE who reject. He can claim newspaper say this and that, but did that writer of newpaper hold any insas share. Clearly this old donkey has very bad intention. Let's hope his bad attitude and bad luck will not trickle down into his descendants.


Sslee
4292 posts

Posted by Sslee > Jul 27, 2020 1:32 PM | Report Abuse

Haha Stockraider,
Thank you for offering your different view/opinion. Please do not queue sell your NETX for half cent gain and please load up more and subscribe fully for your NETX RI.

There ain’t no such thing as a free lunch. You either choose short-term gain for long-term pain or short-term pain for long-term gain.

I choose neither as I believe INSAS is so severely undervalued that just a right policy, the middle path will do both short-term gains for also long term gain.


rogers123
3657 posts

Posted by rogers123 > Jul 27, 2020 1:41 PM | Report Abuse

Sslee: Next time plz don invest in insas after u have sold


rogers123
3657 posts

Posted by rogers123 > Jul 27, 2020 1:42 PM | Report Abuse

Sslee: How is xinqusn now. Im holdin some of it


Sslee
4292 posts

Posted by Sslee > Jul 27, 2020 2:16 PM | Report Abuse

Dear rogers123,
You need to check with KYY on how is Xingquan now?
https://klse.i3investor.com/blogs/koonyewyinblog/2020-05-23-story-h1507806755-Trump_lost_his_way_groping_in_the_dark_Koon_Yew_Yin.jsp

Xingquan delisted from Bursa
This reminds me of Xingquan International Sports Holdings delisted from Bursa Malaysia for noncompliance with SC listing rules. The company failed to submit audited annual report. CIMB was the underwriter at Rm 1.60 for its IPO and the company raised more than Rm 100 million. CIMB invited me to visit its factories in Xiamen, China. I have more than 100 million shares and I have engaged a legal firm called Chan & Associates to recover my loss. Unfortunately, this is another one of my bad investments.


leno
3930 posts

Posted by leno > Jul 27, 2020 2:18 PM | Report Abuse

bad ppl will always suffer bad investment one ... greedy old fool.


Sslee
4292 posts

Posted by Sslee > Jul 27, 2020 2:46 PM | Report Abuse

Haha,
Great minds discuss ideas; average minds discuss events; small minds discuss personal insult.
There is nothing more powerful than an idea whose time has come. The time will come to unlock Insas value.


leno
3930 posts

Posted by leno > Jul 27, 2020 3:16 PM | Report Abuse

great mind discuss useful idea ... greedy old fool discuss sheet.


TheContrarian
5939 posts

Posted by TheContrarian > Jul 27, 2020 5:49 PM | Report Abuse

Horny minds discuss erotic ideas .....


Sslee
4292 posts

Posted by Sslee > Jul 27, 2020 7:03 PM | Report Abuse

Haha
Only dirty old men like to make erotic ideas and jokes.


rogers123
3657 posts

Posted by rogers123 > Jul 27, 2020 11:48 PM | Report Abuse

Sslee Haha
Only dirty old men like to make erotic ideas and jokes. <--- U? sslee? I thought is ur old buddy, kyy


Sslee
4292 posts

Posted by Sslee > Jul 28, 2020 7:12 AM | Report Abuse

Haha good morning rogers123,
Not KYY but Tun M
https://www.youtube.com/watch?v=Z0yZSkSbPRo


rogers123
3657 posts

Posted by rogers123 > Jul 28, 2020 11:17 AM | Report Abuse

sslee: plz sell ur insas


Sslee
4292 posts

Posted by Sslee > Jul 28, 2020 12:11 PM | Report Abuse

Dear rogers123 sir,
For your information Inari TP RM 2.50 so very soon Insas will break thro’ RM 1.00 and the sky is the limit.

https://klse.i3investor.com/blogs/kenangaresearch/2020-07-27-story-h1510755262-Inari_Amertron_5G_Supercycle_in_the_Making.jsp
Inari Amertron - 5G Supercycle in the Making
We initiate coverage on Inari Amertron (Inari) with an OUTPERFORM recommendation and a target price of RM2.50


stockraider
19843 posts

Posted by stockraider > Jul 28, 2020 12:25 PM | Report Abuse

SSlee with your recent bad mouthing of insas...i think it is very difficult for u to get access to the management loh...!!

U have destroyed the fondness of insas management on u, which u have taken alot of time & painstakingly to build loh...!!

The only way u can repair your bad reputation is to apologise wholeheartedly to the CEO Wong loh....!!


Posted by Sslee > Jul 28, 2020 12:11 PM | Report Abuse

Dear rogers123 sir,
For your information Inari TP RM 2.50 so very soon Insas will break thro’ RM 1.00 and the sky is the limit.

https://klse.i3investor.com/blogs/kenangaresearch/2020-07-27-story-h15...
Inari Amertron - 5G Supercycle in the Making
We initiate coverage on Inari Amertron (Inari) with an OUTPERFORM recommendation and a target price of RM2.50


leno
3930 posts

Posted by leno > Jul 28, 2020 12:42 PM | Report Abuse

Insas to Inari to Hohup to Ametron to Dgsb to Omesti to Huawei ... now they have a team to prosper and tackle anything and everything lor .... this is an EMPIRE in the making. They carving a big niche on Technology Sector. The Technology EMPIRE. Something that are outside Sunway, YTL, Berjaya, Genting and Gamuda scope lor. U dun belief ? Who are u ?


stockraider
19843 posts

Posted by stockraider > Jul 28, 2020 12:50 PM | Report Abuse

Just buy lah...insas hathaway mah....!!

Very very Big margin of safety!

Very steady Technology portfolio loh...!!


Posted by leno > Jul 28, 2020 12:42 PM | Report Abuse

Insas to Inari to Hohup to Ametron to Dgsb to Omesti to Huawei ... now they have a team to prosper and tackle anything and everything lor .... this is an EMPIRE in the making. They carving a big niche on Technology Sector. The Technology EMPIRE. Something that are outside Sunway, YTL, Berjaya, Genting and Gamuda scope lor. U dun belief ? Who are u ?


Sslee
4292 posts

Posted by Sslee > Jul 28, 2020 12:59 PM | Report Abuse

Haha stockraider,
I thought we already agreed I play the bad guy clearing a clear path to INSAS’s treasure vault so that our hero General Raider can have an easy path to raid the vault and distribute Inari shares to every INSAS shareholders.

Not forgetting the great potential of Bio-Tech Sengenics.


stockraider
19843 posts

Posted by stockraider > Jul 28, 2020 1:03 PM | Report Abuse

U should play the good guy mah...!!

Raider being a stockraider is usually the bad guy mah...!!

U must repair your good image that u have taken time & sweat to build loh..!!

I m disappointed at your mindless uncalled for action of complaining to SC on wonderful insas loh.....!!

Posted by Sslee > Jul 28, 2020 12:59 PM | Report Abuse

Haha stockraider,
I thought we already agreed I play the bad guy clearing a clear path to INSAS’s treasure vault so that our hero General Raider can have an easy path to raid the vault and distribute Inari shares to every INSAS shareholders.

Not forgetting the great potential of Bio-Tech Sengenics.


Sslee
4292 posts

Posted by Sslee > Jul 28, 2020 1:52 PM | Report Abuse

Dear Stockraider,

Already send my sincere apology letter to the Board.
Basically ensuring the Board I have my full confident and respect for the Board. I’m not against the Board but I need to look after my interest. I do not wish to take confrontation stand or take the route of making complaint to SC and Bursa But I feel compelled to send my official complaint this morning to save INSAS from further embarrassment of explaining the unexplainable and defend the indefensible that asset and cash rich INSAS need the cash call RI badly to pay off the bridging loans as stated in below addition information on RI proposal dated 24 July 2020;
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3071482

Please accept my sincere apology. However, on the coming AGM I will raise these two fundamental questions.

Refer 2017-2019 AGM key matter discussed:
2017 AGM: The Board has taken note of the shareholders’ comments and will seriously consider paying additional/special dividend and to formulate a formal dividend policy in FY 2018.

2018 AGM: The Board has considered the level of dividends to be paid to shareholders for the FY2018 but in view of the current depressed market conditions due to numerous external and internal events, the Board has exercised a conservative and prudent management to retain adequate cash reserves in order to weather any potential unforeseen deterioration in the market conditions, and to position the Group for future growth and any good investment opportunities which may arise during this downturn. The Board will evaluate and if appropriate, formulate a dividend policy when the markets recover.

2019 AGM: The Board has adopted a prudent and conservative dividend payout for this FY in view of the current difficult and uncertain market conditions, both domestic and global. The Board is also mindful of the obligations to redeem RM132 million of Redeemable Preference Shares, which are due for redemption by end February 2020. The Board will continue to give careful attention to evaluate with a view to formulate a dividend policy which will provide sustainable returns to shareholders for their continuous support, after taking into consideration various factors such as earnings, debts, growth and potential investment opportunities

Question 1: May the Board tell us when will INSAS formulate a formal dividend policy and paying a reasonable/decent/respectable dividend?

2017 AGM: DWGK further informed the shareholders that the CEO as a major shareholder of the Company cannot acquire more Insas shares from the market, and the Company cannot continue with its proposed share buyback as such share acquisition and/or buybacks may result in the CEO and persons acting in concert (“PACs”) holding more than 33.0% of Insas shares which will then trigger a mandatory takeover offer (“MGO”) on the remaining Insas shares not owned by the CEO and PACs, unless a waiver of such MGO is granted by the Securities Commission and the shareholders of Insas under the Malaysian Code on Take-overs and Mergers.
Majority of the shareholders present at the meeting replied to DWGK that if the CEO apply for waiver of MGO, the shareholders will support and approve such waiver.

2018 AGM: The Board will continue to look into the “Whitewash” situation in relation to the application to the SC for an exemption from a mandatory offer obligation arising from the exercise of any conversion rights or options into new voting shares and/or as a result of a share buy-back scheme by the Company. Any such application for exemption will require the approval from independent / non-interested shareholders of the Company at a general meeting to waive their rights to receive the mandatory offer

2019 AGM: The Board has not received any notice from any Major Shareholders and Persons Acting in Concert (“PAC”), and in the event such notice is received, the Board will announce the waiver application to Bursa immediately. The Board will continue to look into the “Whitewash” situation in relation to the application to the SC for an exemption from a mandatory offer obligation arising as a result of a share buy-back scheme by the Company and/or the exercise of any conversion rights into new voting shares of the Company. Any such application for exemption will require the approval from independent / non-interested shareholders of the Company at a general meeting

Question 2: When will the Board look into the “Whitewash” situation in relation to the application to the SC for an exemption from a mandatory offer obligation arising from the exercise of a share buy-back scheme by the Company? And table the resolution for the approval from independent / non-interested shareholders of the Company at a general meeting to waive their rights to receive the mandatory offer?


stockraider
19843 posts

Posted by stockraider > Jul 28, 2020 2:19 PM | Report Abuse

Dear SSlee,

Your Apology letter to insas board of directors are conditional, insincere and without remorse on your childish stubborn grave act of complaining to Security Commission loh...!!

If i m a member of Insas Board of Directors, i will also reject your apology letter outright loh...!!

Do not give such a stupid apology letter, when u have no actual intention of apologizing, it will make matter worse loh...!!


Sslee
4292 posts

Posted by Sslee > Jul 28, 2020 2:32 PM | Report Abuse

Haha stockraider,
May I learn from you how to write an apology letter?


stockraider
19843 posts

Posted by stockraider > Jul 28, 2020 2:36 PM | Report Abuse

It must written from deep sincere heart mah...!!

Just pray to Lord Buddha or Jesus Christ ,that u felt sorry b4 , u start writing the apology letter mah....!!

Posted by Sslee > Jul 28, 2020 2:32 PM | Report Abuse

Haha stockraider,
May I learn from you how to write an apology letter?


rogers123
3657 posts

Posted by rogers123 > Jul 28, 2020 3:07 PM | Report Abuse

Sslee: apology letter for who? for me? I only accept love letter


leno
3930 posts

Posted by leno > Jul 28, 2020 3:31 PM | Report Abuse

In Malaysia, there is no single Conglomerate that has capacity to exploit technology sector except for Insas. Insas has a COMPLETE package to do the job.
1. Construction arm of Hohup,
2. computer chips and quality control of Inari ametron,
3. software expertise of Dgsb
4. communication of Omesti
5. funding and investment of Insas M&A
6. Connection with Huawei and Foreign Tech Company
Combination of construction, hardware, software, communication, and finance and management.
The 5 FREE warrants are GOLD MINE
They worth more than previous 2 warrants.
Last time Insas was just in the beginning of adventure.
Now insas is on the way rolling ....
SSLee are stupid greedy old fool.
Bad ppl will suffer bad karma.


leno
3930 posts

Posted by leno > Jul 28, 2020 3:37 PM | Report Abuse

YTL tried before but failed. YTL came out with construction, YTLE, and YTL power. They failed. They didn't have the hardware sector of inari ametron and Huawei. They don't have their own securitties investment license like insas M&A.
Berjaya and Genting were not in the scope at all. Gamuda only construction. What else is there ?
Singapore investment will be comin in soon.


leno
3930 posts

Posted by leno > Jul 28, 2020 3:42 PM | Report Abuse

Singapore has the technology but the country is too small to make any money. They will come and whack insas share instead ... and become one of insas partner. Insas has big connection with singapore.


Sslee
4292 posts

Posted by Sslee > Jul 28, 2020 3:46 PM | Report Abuse

Dear stockraider,
Thank you for telling me an apology must come from deep sincere heart.

I am actually alarm by the additional RI information:
Reply by INSAS on these 3 questions
The amount raised from the issuance of RPS-A pursuant to the Rights Issue in 2015 and the breakdown of utilisation of proceeds from the issuance of RPS-A?

The amount of the Group’s cash and bank balances and deposits with banks and financial institutions, based on the latest AR for FYE 30 June 2019 and latest quarterly report for the FPE 31 March 2020?

The detailed rationale and justification for the Group to undertake the bridging loans via revolving credit facilities to redeem the RPS-A that matured in February 2020, instead of utilising the significant cash and bank balances and deposits with banks and financial institutions as stated in item (2) to redeem the RPS-A.

With conclusion:
The Group’s cash & bank balances and deposits of RM392.6 million as at 31 March 2020 is primarily used by its subsidiaries for working capital requirement purposes. The Group’s principal business segments are stock broking, provision of corporate finance & advisory services and structured finance (“Financial Services”); investment holding & trading; and technology investments & IT related services (“Technology”), the nature of these Group businesses require adequate and sufficient cash resources and back-up to support the business activities and to undertake any potential good and viable investment and structured finance opportunities that may arise from time to time.

As the Group’s cash is primarily used by its subsidiaries for their respective businesses and operational requirements, the Company requires to undertake the Proposed Rights Issue with Warrants to repay the bridging loans which were taken to redeem the RPS-A, and the Proposed Rights Issue is structured with a minimum subscription of RM65 million, and if the Proposed Rights Issue is fully subscribed by the shareholders, the Company will raise the maximum subscription of RM132.6 million.

This kind of questioning can only come from Bursa query acting on someone complaint.
Hence in order to prevent whoever wrote the replied on behalf of INSAS from pursuing this line of augment. I mail in my official complaint with detail facts and figures to Bursa and SC with cc to the Board.

As of my Q1 and Q2, I wrote it with a hidden agenda that hopefully by the time Annual report 2020 come out the formal dividend policy, reasonable/respectable dividend and MGO waiver for share buy-back are already on the AGM agenda.

I pray to Lord Buddha, I’m sorry please forgiving me.


leno
3930 posts

Posted by leno > Jul 28, 2020 3:47 PM | Report Abuse

Share market is about selling story. U must be a good ethical story teller like leno to make ethical multiple million profit. Dont tok with GREED in your heart. Greedy ppl end up worst.
And Do not go to other ppl counter tok kok.
U can make money and lose money in ANY counter.
When U think your counter better than other ppl ... then u have choose to become a piece of dog shit in the middle of the road lor.


stockraider
19843 posts

Posted by stockraider > Jul 28, 2020 3:48 PM | Report Abuse

If only sochai sslee, realize the the true potential of insas RPS with warrant wonders like leno said....SSlee would not bark & shit every where loh.....!!

Posted by leno > Jul 28, 2020 3:31 PM | Report Abuse

In Malaysia, there is no single Conglomerate that has capacity to exploit technology sector except for Insas. Insas has a COMPLETE package to do the job.
1. Construction arm of Hohup,
2. computer chips and quality control of Inari ametron,
3. software expertise of Dgsb
4. communication of Omesti
5. funding and investment of Insas M&A
6. Connection with Huawei and Foreign Tech Company
Combination of construction, hardware, software, communication, and finance and management.
The 5 FREE warrants are GOLD MINE
They worth more than previous 2 warrants.
Last time Insas was just in the beginning of adventure.
Now insas is on the way rolling ....
SSLee are stupid greedy old fool.
Bad ppl will suffer bad karma.


leno
3930 posts

Posted by leno > Jul 28, 2020 3:55 PM | Report Abuse

Insas is raising money thru rps. How many company ever do this ? Zero.
Other ppl take your money give u free warrant. That is bull shit. That is TIPU your money.
U paying RM 2 for 2 rps that worth more than RM 2. U understand or not ?
RPS and FD is the same. When u put money in FD, is the bank tipu your money ? No. When we put money in insas rps is the same. U not happi, u can sell back the rps. They are listed. Can be sell.... and can be buy more. All the banking now queeing to buy insas 3.8% rps. They take customer 2%FD and put in insas 3.8%rps. Safer than lending to car buyer who pay 4% interest. This is basic finance.


leno
3930 posts

Posted by leno > Jul 28, 2020 3:57 PM | Report Abuse

see ... how many of u know all these before ?
Onli leno who know, understand and got the talent and ability to explain in simple term to all of you.
Now, u all know why, onli leno are allowed to curse, fak, tok kok here.

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