KLSE: INSAS (3379)       INSAS BHD MAIN : Finance
Last Price Today's Change   Day's Range   Trading Volume
0.905   +0.015 (1.69%)  0.885 - 0.91  1,249,700
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Market Cap: 627 Million
NOSH: 693 Million
Avg Volume (4 weeks):1,466,721
4 Weeks Range:0.805 - 0.91
4 Weeks Price Volatility (%):
52 Weeks Range:0.695 - 0.92
52 Weeks Price Volatility (%):
Average Price Target: 1.05
Price Target Upside/Downside: +0.145
Stamp duty exempted for year 2020

Financial Highlight

Latest Quarter | Ann. Date 30-Sep-2019 [#1]  |  26-Nov-2019
Next QR | Est. Ann. Date: 31-Dec-2019  |  21-Feb-2020
T4Q P/E | EY: 8.59  |  11.65%
T4Q DY | Payout %: 2.11%  |  18.14%
T4Q NAPS | P/NAPS: 2.5341  |  0.36
T4Q NP Margin | ROE: 34.84%  |  4.16%


Date Subject
20-Jan-2020 Stock on Radar - Insas (3379)
07-Jan-2020 Stocks on Radar - Insas (3379)
18-Dec-2019 INSAS 是否春天要来了?
13-Dec-2019 Trading Stocks - Insas
12-Dec-2019 Stocks on Radar - Insas (3379)
02-Nov-2019 Questions for INSAS 57th AGM
25-Oct-2019 Trading Stocks - Insas
24-Oct-2019 Insas - A hidden gem and cheaper entry to Inari
23-Oct-2019 Stock on Radar - Insas (3379)
15-Oct-2019 Trading Stocks - Insas
26-Sep-2019 Trading Stocks - Insas
26-Sep-2019 INSAS WILL LIMIT up ANYTIME Soon !
10-Sep-2019 Trading Stocks - Insas
30-Aug-2019 Trading Stocks - Insas
30-Aug-2019 M+ Online Technical Focus - 30 Aug 2019
30-Aug-2019 Daily Market Update - 30 Aug 2019 (CARIMIN, INSAS)
29-Aug-2019 Stocks on Radar - Insas (3379)
22-Jul-2019 Insas: How Value can be Unlocked? kcchongnz
20-Jul-2019 Insas Berhad: Low-Risk Arbitrage kcchongnz
17-Jul-2019 Insas a value trap? Kcchongnz

Business Background

Insas Bhd is engaged in several business divisions, which include stockbroking, provisioning of corporate finance and advisory services and structured finance, investment holding and trading, retail trading and car rental. It also involves in property investment and development. The company has operations spread worldwide, while its Investment Holding and Trading segment earns majority revenue for the company.
Analyze this stock with MQ Trader system

  37 people like this.
TailWagsDog Insas and Inari on the verge of a big ascent.
14/01/2020 5:13 PM
CS INSAS has only 8.88 mil (out of 265 mil) warrants in the first 3 rows of sell queue.. and stay at price on 0.88... looks nice..
15/01/2020 4:02 PM
CS Seems to have strong support on 880 now... ready to fly?
15/01/2020 4:59 PM
TheContrarian Will only fly in the year of metal rat.
15/01/2020 10:06 PM
CS Then it shall be coming soon bro... Gold Rat Year!
16/01/2020 8:35 AM
sohaitrader ZZZZzzzzz took some profit on insas ..and switch to Ock ... hahaha
16/01/2020 4:21 PM
CS uptrend today.. absorbing power of HUAT around 880 before breaking-through resistance 885-925! gogogo!
16/01/2020 5:13 PM
888next Insas announces Expiry of WB yesterday:

1) Last Date of Trading: 7 Feb 2020

2) Date of Suspension: 10 Feb

3) Last Date transfer into CDS A/c: 18 Feb

4) Date of expiry: 25 Feb
17/01/2020 6:43 AM
888next Same time Insas announced yesterday Redemption & Final Dividend of RPS:

1) Book closure date for determining entitlement: 18 Feb 2020

2) Payment date: 25 Feb

Note that RPS holders intending to use their RPS to convert their warrants WB into Insas shares last date is 18 Feb 2020
17/01/2020 6:50 AM
888next Finally D Day is coming. Only 15 trading days left for the warrants WB trading.
17/01/2020 6:53 AM
TheContrarian For next 15 trading days Insas naik satu sen each day. MGO coming.
17/01/2020 10:59 AM
sctan Major shareholder can ask for waiver, and is normally approved by SC, not necessary will trigger MGO
17/01/2020 11:16 AM
stockraider No where can get waiver loh....!!

Take it or leave it mah....!!

So insas boss need decide whether they are prepare to increase its stake at Rm 1.00 & trigger GO or leave insas as it is and wait for another distant opportunity in the future loh....!

Posted by sctan > Jan 17, 2020 11:16 AM | Report Abuse

Major shareholder can ask for waiver, and is normally approved by SC, not necessary will trigger MGO
17/01/2020 11:20 AM
CS interesting trading activities happen in last 1 hours of trading.. While one big fish try to keep the price above 890, another one was trying to push down the price to 885 and below (resistance) .. looks like 2 big fishes fighting each other..

At the end, price close at 895~ uptrend today again... look forward another breakthrough on 925 for more uptrend...
17/01/2020 5:02 PM
CS Thanks for the fruitful info..

breakout on 925 could lead to TP around 965, 1020 and 1140.. anyone have similar thoughts?
19/01/2020 6:49 PM
CS Seems like AmInvest is with me.. lol.. breaking 925 on the way..
20/01/2020 9:22 AM
Fabien "The Efficient Capital Allocater" Interesting thesis by 888next

Conclusion: MGO is inevitable?
20/01/2020 10:57 AM
CS up or down in last 10 min of trade??
20/01/2020 4:48 PM
CS close with a slight green today.. observed strong support on 895... hopefully could make a push through 925..
20/01/2020 5:17 PM
Aristocats Post removed. Why?
21/01/2020 8:06 AM
CS strong support is setting up on 900 =)
21/01/2020 2:48 PM
CS steadily stepping up everyday..
21/01/2020 7:35 PM
CS Hi 888next... do you able to estimate how much they would offer for each share during MGO? ($.$ )?
21/01/2020 10:44 PM
TheContrarian MGO coming.
21/01/2020 11:46 PM
CS well explained... seems likely to happen that way...
22/01/2020 12:11 AM
DK66 888next, Hi, thanks for in-depth analysis of the warrant scenario. My question is;

Is it possible for Thong and the other 165m warrants holders to exercise partially their warrants in such a way to completely avoid MGO ?

Thank you.
22/01/2020 10:44 AM
DK66 888next, Thanks for the explanation.

If the 165 warrants are exercised by PAC, and DS exercises a portion of its warrants so as to remain below 33% (thus avoided MGO), isn't this MGO avoidance detrimental to the minority due to the huge dilution and yet no MGO ?

Thank you
22/01/2020 1:26 PM
DK66 888next, any possibility of the 165m warrants exercised by some friendly parties and DS exercised partially to main its control without extending MGO ?
22/01/2020 1:46 PM
DK66 888next, I believe in such scenario, DS will at least exercise sufficient warrant to maintain its control under 33%.
22/01/2020 1:51 PM
DK66 888next, If the 165m warrants are exercised, DS's stake is reduced to 26.3%. Can't DS exercise some warrants to increase its control to 32.96% ?
22/01/2020 2:00 PM
pampers I got some warrants , and I am ready to let it burn
22/01/2020 2:19 PM
DK66 As long as the price remains below 1.00, there is no reason for small warrantholders to exercise their warrants. However, for those who wish to buy big on Insas, the warrant is a lifetime opportunity.

The worst that can happen to the minority is that the 165m warrants are exercised by friendly parties, and DS exercises some warrants to remain below 33% and avoids MGO.

That is just my opinion.

Thank you.
22/01/2020 2:28 PM
CS Hmm.. INSAS seems like setup for a spike. no much selling force observed..

INSAS is small bet for big return lo, but seems like not really a good bet now according to what 888next clarified... it is only good when you managed to buy at 5 and sold at least half at 10 before this... However, mother seems to be a very safe bet for 10%+ return in 1-2months as MGO is quite avoidable on RM1.
The only doubt I have is that, where are another 150mil+ warrants goes? Who is holding it and never put it on the queue? Anyway, if DS Thong or any friendly parties bought it, then RM1 is for sure. If someone else buy it, INSAS could even raise more...
22/01/2020 3:20 PM
DK66 888next, DS Thong surely knows his "friendly" parties.
22/01/2020 4:54 PM
DK66 888next, Thanks for the discussion.
22/01/2020 5:10 PM
DK66 DS planned this 5 years ago. Unless he succeeded in increasing his stake substantially with or without the MGO, he will not "uinlock" Insas. The only worry to minority is too much dilution from warrant exercise.
22/01/2020 5:32 PM
deMusangking then buy more lah!!!!

22/01/2020 8:56 PM
888next Wishing everyone Gong Xi Fatt Cai and happy holidays
23/01/2020 6:52 AM
Sslee Dear all,
May the Year of the Metal Rat bring you Good Luck, Good Health, Good Fortune, Plentiful of Laughter, Happiness, Success and at Peace with Oneself and Others. Happy Chinese New Year 2020

Thank you
23/01/2020 8:53 AM
stockraider If Thong want to GO insas, is it not obvious, he will buy many many insas mother from the mkt at below Rm 1.00 thru nominees leh ??

Next he need to decide whether he need to exercise his about 100m warrant at rm 1.00....if yes he can do it quietly b4 and very close to expiry of the warrant or on the day b4 the expiry date, so that others cannot follow him exercise their warrants loh....!!

Next it will be GO at Rm 1.00 loh....the objective is to get as much of insas as thong can afford loh...!!

based on the above scenario....it is likely thong will strengthen his control on insas loh....!!

Posted by 888next > Jan 23, 2020 4:32 PM | Report Abuse

If DS Thong chooses to increase his stake via warrant conversion:

1) Using the same amount of investment in the Cheapest Option of RM115 mil, let us assume
DS has 115 mil warrants (using 100 mil warrants plus an additional 15 mil warrants purchased)

2) Net capital of Insas is now 663 mil + 115 mil = 778 mil

3) DS Thong stake becomes = (218 + 115)/778 = 42.8% only

Notice by using warrants conversion and expanding the capital base, it dilutes everybody including DS s portion. The more warrants you convert, the less effective it is on %age shareholding instead of using the same amount to purchase Insas without converting.

This conversion triggers the 33% MGO mark.

In terms of Safety: to convert is a straight forward process of warrants you have. But if you were to cross a block of 115 mil Insas shares, it is not not so straight forward. Questions on the PAC risk arises and possible connected parties acting in concert.

Conclusion: I think between the Cheapest Option (which may not be safe) VS the Warrant Conversion Option (which is safer but more expensive) I think I would take the SAFER OPTION ie convert my warrants to increase my stake.

Thank you
23/01/2020 5:25 PM
stockraider Go go go INARI....!!

Lets uplift insas share price loh....!!
24/01/2020 10:55 AM
stockraider Insas mari mari mari....!!

Monies mari mari sini.....!!

Insas go go....$$$$$$$$$$$ coming loh....!!
24/01/2020 11:44 AM
888next 1) 0n 22 Jan 2020, Inari announced 15.7 mil Inari shares were issued to Insas Plaza Sdn Bhd from warrants conversion at 53.33 sen. Insas now holds 615 mil INARI shares.

Paper gain on these 15.7 mil Inari shares by Insas: =(RM1.90 less 0.5333) x 15.7 mil = RM21.5 mil

2) Paper gain on 600 mil Inari shares today: Inari shares rose 14 sen on news of the Apple/Broadcom news on RF business = 600 x 0.14 = RM84 mil

So total paper gain made = RM105.5 mil
24/01/2020 12:52 PM
888next Read todays news on the Apple/Broadcom announcement on RF major business which is super positive for Inari:


Good news for both INARI and INSAS today
24/01/2020 12:53 PM
888next Each Insas share is backed by 0.93 share of Inari worth RM1.76.

Compare to Insas share price closing at RM0.905

Insas is ridiculously undervalued
24/01/2020 12:56 PM
888next If you have 100 mil warrants, and just the Inari shares is worth RM1.76 per Insas share, I find it difficult to understand why investors are not buying mother and also converting warrants at RM1 a share.

Both are a steal.
24/01/2020 1:06 PM
888next Today sellers of Warrant WB: NO Buyers

0.5 sen 12.67 mil
0.01 sen 3.03 mil
0.015 sen 631k
0.02 sen 1.28 mil
0.025 sen 255k

Total: abt 17 + mil warrants on sale today
24/01/2020 1:11 PM
888next The remaining 149 mil warrants are MIA (missiong in action) status
24/01/2020 1:12 PM
stockraider Precisely loh...if Thong did not convert his warrant & do a GO at rm 1.00, it really sayang for him and he has missed big opportunity to increase his Insas exposure for a relative big profit mah...!!

Posted by 888next > Jan 24, 2020 12:52 PM | Report Abuse

1) 0n 22 Jan 2020, Inari announced 15.7 mil Inari shares were issued to Insas Plaza Sdn Bhd from warrants conversion at 53.33 sen. Insas now holds 615 mil INARI shares.

Paper gain on these 15.7 mil Inari shares by Insas: =(RM1.90 less 0.5333) x 15.7 mil = RM21.5 mil

2) Paper gain on 600 mil Inari shares today: Inari shares rose 14 sen on news of the Apple/Broadcom news on RF business = 600 x 0.14 = RM84 mil

So total paper gain made = RM105.5 mil

34 posts
Posted by 888next > Jan 24, 2020 12:53 PM | Report Abuse

Read todays news on the Apple/Broadcom announcement on RF major business which is super positive for Inari:

24/01/2020 3:53 PM
SpicyMcDeluxe Lololo
25/01/2020 3:07 AM


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