Highlights
KLSE: INSAS (3379)       INSAS BHD MAIN : Finance
Last Price Today's Change   Day's Range   Trading Volume
0.49   +0.01 (2.08%)  0.48 - 0.505  1,138,600
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Ann. Date Date Type Units Price Total NOSH View
26-Feb-2020 27-Feb-2020 Exercise of Warrants 3,994 1.000 693,348,053 Additional Listing Detail
18-Feb-2020 19-Feb-2020 Exercise of Warrants 3,378 1.000 693,344,059 Additional Listing Detail
11-Feb-2020 12-Feb-2020 Exercise of Warrants 7,048 1.000 693,340,681 Additional Listing Detail
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  37 people like this.
 
tah16600 The more u buy the lower the syndicates throw .die !!!!!!!
19/03/2020 2:49 PM
tah16600 Any listed comp. making mask?
19/03/2020 2:56 PM
alooloo One person buy = one person escaped.
Insas is not diversified from the risk of CoronaVirus. I don't see they have any business that could stay intact. Even Inari, affected by Malaysia shut down and Philippines shut down.
19/03/2020 2:57 PM
tah16600 Boosa shares drop like no tomolo
19/03/2020 3:14 PM
leno kekekekek ... i am not here to ask u to buy ... i fully understand, not everyone got money to buy ... i buy insas just to help people to escape ... i believe in doing good deed ... good ppl will get good karma mar ....
19/03/2020 3:52 PM
682pujut2b By now , we can see the grand stories in the past year in this forum.
- On Thong could be at great risk of losing control of Insas,
- Thong would almost for sure wait until last minute to exercise their warrant-B at RM1.0, golden opportunities
- strongly influencing small investors to hold on to Insas and wait a few more months to get at least a 20% return (when share prices were fluctuating from 0.78 to 0.92 a few time from about mid 2019 to about Jan 2020),etc,etc

In hindsight, I think most likely these are fairy tales stories put in by some or a few who had been benefiting from the up and down of Insas prices. between 0.78 and 0.92.

Appreciate if Mr SsLee, indisputably one of the most knowledgeable person on Insas in this forum, could expound on why the Thong family is not taking any action now when Insas has dropped about 0.40 ? Why the corporate raiders did not appear ?

TQ
20/03/2020 11:25 AM
leno i have said many time .... thong not goin to do anything. I say this 5 year 4 year 3 year 1 years few months ago .... aint i am right ? Of course i am. U dont understand millionaires mindset.I dont blame u ... u are not millionaire. I dont think u are even a quarter or a tenth of millions ... so u just dont understand. Thong will not do anything. Of course u will say if u are ah thong u will acquire insas .... but u are not ah thong. You dont have same age, same families, same experience, same wealth. U are presuming a poor fellow suddenly become insas director ... of course lah u will think to acquire insas. Ah thong is not poor fellow. He is not someone suddenly poof magically become insas director. His family member is not same with your family members .... u get what i mean. If u felt insulted ... that is your poor mentality condition that make u feel insulted. If u able to imagine u are ah thong with the same age, experience and condition ... u will know what he will do. I give u one clue. He will not take insas private. If u take this out from your mind ... maybe then u can make some progress in your thinking ... sekian.
20/03/2020 11:52 AM
682pujut2b Leno,Thank you. What you said above is in line with what I said before. I had said in this forum since middle last year that Thong family is in full control. They are at no risk to corporate raiders, there will be no corporate raiders because they know they will never succeed, and Thongs would let warrant B expired because they would never put in more of their money into Insas just to dilute the value of their shares.
Unfortunately because of the spun of the good fairy tales by certain individual, I believe on purpose, many small fishes were trapped when they could have sold their shares when it rises to about 0.90.
20/03/2020 12:09 PM
Sslee Dear all,
INSAS net worth from 30/6/2010 to 30/6/2019: RM 823,482,000 (NTA: RM 1.1877) to RM 1,737,078,000 (NTA; RM 2.5053) or about average addition of 100 million per year.

As of 31/12/2019 half year financial result:
Revenue RM 85,235,000 and Net profit RM 49,328,000 of these:
INSAS share of profit from associated companies: RM 22,412,000
Fair value gain of financial assets: RM 3,087,000
Dividend received: RM 13,783,000

Non-current assets: RM 862,934,000
Current assets: RM 1,477,695,000
Total liabilities: RM 573,999.000

What I can do now on how to unlock the value of INSAS:
1. Getting CEO to apply for SC approval to waive/exempt Dato’ Sri Thong Kok Khee who triggers a mandatory offer obligation as a result of a share buy-back scheme from the mandatory offer obligation during nest AGM. Insas can then use it cash holding to do share buyback to 10% max per year
2. Distribute 30,327,291 treasury shares to existing shareholder
3. Better Dividend
4. Formulate a formal dividend policy.

I had not sold any of my INSAS share and in fact I collect more during this period.

Everything seems cheap now so please do not expect any corporate raider (but who know if INARI price recovered) the only raider in i3 is "stockraider" somehow he manage to escape with his 1 million Insas-WB

Thank you
20/03/2020 12:28 PM
leno number 1 is useless... even get exempt, ah thong will not buy more. buying Extra few million shares is meaningless to him. SO ... count this out.
Number 2 ... yes ... insas will distribute this share back.
Number 3 ... yes, dividend is getting better ... but dont hope high dividend. It is just a better dividend .. maybe 4 sen or 5 sen per annum. This is reality. Any extra will be bonus but dont hope too much.
number 4 ... no .. there will be no formal dividend policy... for how long ? For .. ever.
There will be possible new warrants and rps on the way this year. They have been doin this multiple times since long time and repeating same strategy. Give new FREE warrant ... with subscription of new RPS.
I talk too much already. I not asking anyone to buy or sell or hold. But i just telling people why i still holding and collecting more insas ... wish every one all the best in whatever they trade.
Sekian.
20/03/2020 12:51 PM
682pujut2b Adree with Leno.
No.1 .... I thought is no longer a director of Insas, he is just a major share holder . Why should Insas of CEO of Insas do anything in that respect?
No. 2.....Yes, It amounts to 30/660 = 1/33 = 3% value of share, peanut but better than nothing.
No. 3 Better div of 5 sen may support share price at best at about RM1.0.

Best thing is if Insas can do that again, issue free warrants this year. Although, overall this is still taking money from the public who buy into the warrant but at least existing small share holders can have some benefit.

The primary problem of Insas is very poor business with both ROE and ROA of less than 5% over decades. Compound by low DY, it does not attract major investors.
20/03/2020 1:53 PM
Alex™ hehe. insaf d
20/03/2020 1:56 PM
Sslee Haha
This is for company share buyback. Max 10% per year and after the fith year Dato' Sri Thong shareholding will increase from 32.96% to over 50% without him doing anything.
No RPS because Insas is full of cash what the use for RPS?
20/03/2020 2:04 PM
682pujut2b Insas need the cash for its financial sector of their business and as buffer / support for many other sectors of their businesses that are mostly having extremely poor profit return if not making losses. They should just issue free warrant (without RPS) as "rewards" to existing share holders.
I for one would not want to put more money into a Company which is having such poor ROE and ROA.
20/03/2020 2:12 PM
leno question remain the same ... if insas really has poor business, rpe roa ... then why fak u still doin in here ? U should be very busy in your high business, high roe roa counter .. No ? Wat is your intention here ? Not good right ? I am not goin to tell anyone about insas business ... for wat ? HAHAHAHAHAH ...but just for sslee ... there is a simple reason for the RPS ... ah thong got so much money. He dont wan to put in low FD. I dont make this up. Free warrant and rps will be comin up this year ... many times already ... i follow insas since year 2000 ...
20/03/2020 3:22 PM
Philip ( Dr. Fauci my Hero) sslee... GKENT management is buying back average of 300K shares every day with their money. With a net outstanding share amount of 563 million shares, and bought back 25 million shares already, what do you think is going on? and why is Insas not doing the same thing with their 1.5 billion in assets and cash?
21/03/2020 12:18 PM
21/03/2020 12:19 PM
Philip ( Dr. Fauci my Hero) Follow so what leno? you get rich from Insas? I doubt it. If you own a hotel and you keep giving rooms inside the hotel to other people, you dont get richer la. All that is happening to your shares is it keeps getting diluted, and you keep losing opportunity costs.

Now, Insas is giving out warrants and preference shares that make their directors rich at the cost of shareholders. You still wondering why you can't make money from INSAS while insas management doesn't even buy back 1 single share or increase dividend? Too bad, you have been taken for a ride.

Compare that to properly run and managed companies like QL which treat their shareholders like business partners instead of annoying pests. The difference is huge. No unncessary warrants
(which dilute shares), increasing dividends, properly managed share capital, high cash levels, good investments in Family Mart (instead of roset pacific car and dome coffee).

Now is the time you can finally invest in quality companies that reward shareholders,( when public bank is RM12, when genting and hapseng and so many wonderful companies are selling half the price of last year despite all time highs in revenue and earnings) and you STILL want to invest in average companies?

I follow (KEEP BUYING) QL since 2009, compared to you follow insas since 2000, which has been more profitable?

Just ask yourself what was 2019 lows for INSAS and the 2020 price today. Then compare that to 2019 lows for QL and Topglove and Yinson and compare that to 2020.

When the tide comes out, you finally see who is swimming naked.

>>>>>>>

leno question remain the same ... if insas really has poor business, rpe roa ... then why fak u still doin in here ? U should be very busy in your high business, high roe roa counter .. No ? Wat is your intention here ? Not good right ? I am not goin to tell anyone about insas business ... for wat ? HAHAHAHAHAH ...but just for sslee ... there is a simple reason for the RPS ... ah thong got so much money. He dont wan to put in low FD. I dont make this up. Free warrant and rps will be comin up this year ... many times already ... i follow insas since year 2000 ...
20/03/2020 3:22 PM
21/03/2020 12:28 PM
leno kakakakak ... u think u make more money than me ... i think i make more than u ... who is right ? HAHAHAHAHH ... u can prove u make more than me or not ?
I said i make millions from insas ... that is why i still in insas ... make sense ?
U say insas lose money .. then why fak u are still here ? HAHAHAHAHAH ... answer lar .... yet u still canot answer this simple question.
I did not say other counter cannot make money worr ... did i say that ? Did u see i go other counter tok kok ? No right ? Because u can make money in other counters as well.
U say i lose money .. are u sure YOU dont lose money in your counter aaaa ?
Actually if u think logically ... the REAL REASON u come to insas counter to tok kok is because u LOSE A LOT OF MONEY in your own counter. HAHAHAHAH .. SPOT ON right ? Make sense right ?
That's why i keep expressing DEEPEST CONDOLONCES to those who come to tok kok about other people counter. Like i said ... bad people will suffer bad karma .... amitabha .... sinchoi sinchoi ....
21/03/2020 12:45 PM
Philip ( Dr. Fauci my Hero) Sorry to tell you, my yinson is still up, my ql is still up, my topglove is still highest price ever. My stoneco is still up from when I started my purchases.

I am making a good profit.

Why am I still here? I am trying to explain in a forum what is a good company versus a bad company. You still dont know?

Your confidence in Insas is overwhelming. Good luck to you. Just dont let overconfidence ruin you.


>>>>>

Posted by leno > Mar 21, 2020 12:45 PM | Report Abuse

kakakakak ... u think u make more money than me ... i think i make more than u ... who is right ? HAHAHAHAHH ... u can prove u make more than me or not ?
I said i make millions from insas ... that is why i still in insas ... make sense ?
U say insas lose money .. then why fak u are still here ? HAHAHAHAHAH ... answer lar .... yet u still canot answer this simple question.
I did not say other counter cannot make money worr ... did i say that ? Did u see i go other counter tok kok ? No right ? Because u can make money in other counters as well.
U say i lose money .. are u sure YOU dont lose money in your counter aaaa ?
Actually if u think logically ... the REAL REASON u come to insas counter to tok kok is because u LOSE A LOT OF MONEY in your own counter. HAHAHAHAH .. SPOT ON right ? Make sense right ?
That's why i keep expressing DEEPEST CONDOLONCES to those who come to tok kok about other people counter. Like i said ... bad people will suffer bad karma .... amitabha .... sinchoi sinchoi ....
21/03/2020 12:49 PM
leno oh .. right ... we believe u ... HAHAHAHAHAHAH ... that's is why u work so hard .... HAHAHAHAHAHAHH ... u work so hard because u lose money lar ... u think we all stupid like u meh ? U want to teach forum ... go open one new topic like every other forumers mar ... why come here ? HAHAHAHAHAHHAHAHAH ... make more than me ? HAHAHAHAHAHAHAHAHAH ... best joke of the year. Deepest CONDOLONCES to u and your famili who suffer because u lose their money as well. Amitabha ... sinchoi sinchoi....
21/03/2020 1:02 PM
alooloo LoL... Leno still same. 1.2, 1.0, 0.9, 0.8, 0.4, still same. That is good consistency there.
23/03/2020 5:17 PM
DavidKhoo118 Lucky bgt at 0.475 kakaka..
25/03/2020 4:34 PM
pinetree88 share price trading below net cash. Now s bargain price
26/03/2020 4:09 PM
Philip ( Dr. Fauci my Hero) It's ALWAYS a bargain price. For the last 5 years INSAS has remained a bargain.

Why?

When your core business is helping people buy and sell stocks, it is easy to game the system by setting the accounting up so that it ALWAYS looks nice on paper.

Those who are novices to buying stocks always use basic valuations like PE growth investing, NTA for value investing and cash/debt ratio for margin of safety.

But those who have been investing for a long time know exactly what to look for and where they hide the figures and real world values.

Now that the market is down, real world questions apply.

1. If INSAS is so undervalued with 1.7 billion in assets and market value of 300 million, why doesn't it buy back shares, increase dividends and grow it's core revenues and earnings?
2. If INSAS sis so undervalued, why are institutional investors and professional funds staying away?
3. If INSAS core business if so strong, why does it subsidiaries keep bleeding money off the books?
4. If INSAS is so undervalued, why has its revenues and earnings keep dropping the last few years?

Thank you.
26/03/2020 4:20 PM
pinetree88 Sometimes just have to wait for it. Unless the cash in bank statement are fabricated.
26/03/2020 5:15 PM
Philip ( Dr. Fauci my Hero) Fabricated or misrepresented, it is not being used in a way that benefits shareholders, the owners of the company.

In other words, a few are benefiting over the many.

If you want to invest in companies that do not treat you as a partner, you should be ready for the consequences.
26/03/2020 7:42 PM
Sslee Dear INSAS shareholders,
I stand to benefit more if I just keep my silent and let Philip spreading unfound or malicious lies disguise as his well concerned advice in INSAS forum to create fear so that some of you might just sell cheap for me to collect. But I refuse to be part of such unethical conducts. I had attended 3 INSAS AGM and make friends with Dato’ Wong and Dato’ Dr Tan but Major shareholder Dato’ Sri Thong remain elusive and mystery to me.

A. If you are concerned that the BS, P&L statement, Cash flow statement and Bank deposit is game the system by setting the accounting up as Philip accused then on Bank deposit you can refer to below answer by auditors:

http://www.insas.net/pdf/img-20191230.pdf
Question: The Auditors were requested to confirm how they verified the existence of the Group’s deposits with licensed banks and financial institutions of RM554million during their course of audit.
Answers: Ms Foo Lee Meng from Grant Thornton Malaysia replied that the bank balances and deposits have been verified by way of inspection of bank statements and direct written confirmation from the banks and financial institutions, and the auditors are satisfied that Insas Group has the said amount of cash with the banks and financial institutions

B. INSAS cannot do share buyback because Dato’ Sri Thong and PAC hold 32.96% and any buyback causing 33% threshold will required Dato’ Sri Thong to do conditional MGO of which he is not prepare to do in current time.

C. https://klse.i3investor.com/insider/director/0166/22-Jan-2020/145511_2643474137.jsp
INSAS convert 15,746,625 of Warrants 2015/2020 to ordinary Shares. Now INSAS hold 600+ million of Inari shares.

D. For the next AGM I am going to propose
a. MGO waiver for INSAS to buy back it share
b. Distribution of 30,327,291 treasury shares to it 663,006,342 shareholders
c. Did INSAS employ it cash hoard to acquired new business or quality financial assets at fair value through profit or loss? If not please give more dividend so that we can use the dividend to buy more INSAS?

Thank you
P/S: This is not a sell or buys recommendation but just some fact to share with you so that you can make you own informed decision.
26/03/2020 9:22 PM
Sslee Dear Philip,
Can you please refrain from smearing the good name of INSAS BOD and management team with your wild and malicious accusation of game the system without any clear evident or fact?

I had met and talk to Dato’ Dr Tan on INSAS Tech venture (challenge, success and failure rate) and Dato’ Wong on business rationale.

My advice to you, please empathize with those going through difficult time during this Covid-19 crisis and seeing their Investment value fall by more than 50%. Please do not spread fake news to create fear that does not benefit anyone. If you have crystal ball please tell us what shares to buy now that will give us 100% gain in 1 year time, spare us your lecture on quality investment for long term of 10 years for no one know are we still alive in 10 year time.

Thank you
26/03/2020 9:22 PM
Philip ( Dr. Fauci my Hero) Hi sslee, I am not smearing name or asking anyone to sell INSAS to buy my shares.

But I do think one should think clearly and ask these relevant questions:

1. If INSAS is so undervalued with 1.7 billion in assets and market value of 300 million, why doesn't it buy back shares, increase dividends and grow it's core revenues and earnings?
2. If INSAS sis so undervalued, why are institutional investors and professional funds staying away?
3. If INSAS core business if so strong, why does it subsidiaries keep bleeding money off the books?
4. If INSAS is so undervalued, why has its revenues and earnings keep dropping the last few years?
27/03/2020 5:07 AM
Philip ( Dr. Fauci my Hero) Example company Y:

26-Mar-2020 26-Mar-2020 Buyback 70,000 5.200 5.200 View Detail
23-Mar-2020 23-Mar-2020 Buyback 40,000 4.580 4.580 View Detail
20-Mar-2020 20-Mar-2020 Buyback 115,000 4.600 4.670 View Detail
19-Mar-2020 19-Mar-2020 Buyback 437,000 4.240 4.880 View Detail
18-Mar-2020 18-Mar-2020 Buyback 320,200 4.980 5.290 View Detail
17-Mar-2020 17-Mar-2020 Buyback 91,900 4.880 5.120 View Detail
16-Mar-2020 16-Mar-2020 Buyback 245,000 5.110 5.630 View Detail
13-Mar-2020 13-Mar-2020 Buyback 1,100,000 5.600 6.000 View Detail
12-Mar-2020 12-Mar-2020 Buyback 138,000 6.090 6.300 View Detail
10-Mar-2020 10-Mar-2020 Buyback 33,000 5.900 6.100 View Detail
09-Mar-2020 16-Mar-2020 Buyback 2,232,000 5.110 6.500 View Detail
09-Mar-2020 09-Mar-2020 Buyback 716,000 5.910 6.500 View Detail
03-Feb-2020 03-Feb-2020 Buyback 55,900 6.180 6.190 View Detail
31-Jan-2020 31-Jan-2020 Buyback 20,000 6.190 6.190 View Detail
30-Jan-2020 30-Jan-2020 Buyback 60,000 6.190 6.200 View Detail
29-Jan-2020 29-Jan-2020 Buyback 11,800 6.190 6.200 View Detail
28-Jan-2020 03-Feb-2020 Buyback 209,800 6.180 6.200 View Detail
28-Jan-2020 28-Jan-2020 Buyback 62,100 6.180 6.200 View Detail
22-Jan-2020 22-Jan-2020 Buyback 70,000 6.230 6.230 View Detail
20-Jan-2020 20-Jan-2020 Buyback 470,000 6.180 6.250 View Detail
17-Jan-2020 17-Jan-2020 Buyback 170,000 6.220 6.270 View Detail
16-Jan-2020 22-Jan-2020 Buyback 907,000 6.180 6.280 View Detail
16-Jan-2020 16-Jan-2020 Buyback 197,000 6.200 6.280 View Detail
15-Jan-2020 15-Jan-2020 Buyback 144,000 6.220 6.230 View Detail
14-Jan-2020 14-Jan-2020 Buyback 68,000 6.220 6.290
27/03/2020 5:08 AM
Philip ( Dr. Fauci my Hero) EMPLOYEES PROVIDENT FUND BOARD 23-Mar-2020 Acquired 620,000 0.000 View Detail
EMPLOYEES PROVIDENT FUND BOARD 23-Mar-2020 Acquired 205,500 0.000 View Detail
EMPLOYEES PROVIDENT FUND BOARD 20-Mar-2020 Acquired 1,667,600 0.000
EMPLOYEES PROVIDENT FUND BOARD 20-Mar-2020 Acquired 490,900 0.000 View Detail
EMPLOYEES PROVIDENT FUND BOARD 19-Mar-2020 Acquired 2,452,000 0.000
EMPLOYEES PROVIDENT FUND BOARD 19-Mar-2020 Acquired 528,300 0.000 View Detail
EMPLOYEES PROVIDENT FUND BOARD 19-Mar-2020 Acquired 280,000 0.000 View Detail
EMPLOYEES PROVIDENT FUND BOARD 18-Mar-2020 Acquired 416,700 0.000 View Detail
EMPLOYEES PROVIDENT FUND BOARD 18-Mar-2020 Acquired 171,900 0.000 View Detail
EMPLOYEES PROVIDENT FUND BOARD 17-Mar-2020 Acquired 4,249,300 0.000
EMPLOYEES PROVIDENT FUND BOARD 17-Mar-2020 Acquired 375,000 0.000 View Detail
EMPLOYEES PROVIDENT FUND BOARD 16-Mar-2020 Acquired 2,015,700 0.000 V
EMPLOYEES PROVIDENT FUND BOARD 16-Mar-2020 Acquired 208,300 0.000 View Detail
EMPLOYEES PROVIDENT FUND BOARD 16-Mar-2020 Acquired 175,000 0.000 View Detail
EMPLOYEES PROVIDENT FUND BOARD 13-Mar-2020 Acquired 985,800 0.000 View Detail
EMPLOYEES PROVIDENT FUND BOARD 13-Mar-2020 Acquired 300,000 0.000 View Detail
EMPLOYEES PROVIDENT FUND BOARD 12-Mar-2020 Acquired 178,600 0.000 View Detail
EMPLOYEES PROVIDENT FUND BOARD 12-Mar-2020 Disposed 193,000 0.000 View Detail
EMPLOYEES PROVIDENT FUND BOARD 11-Mar-2020 Acquired 287,900 0.000
27/03/2020 5:10 AM
Philip ( Dr. Fauci my Hero) Example company Q
27/03/2020 5:11 AM
Philip ( Dr. Fauci my Hero) Example company G

26-Mar-2020 26-Mar-2020 Buyback 20,000 0.535 0.545 View Detail
25-Mar-2020 25-Mar-2020 Buyback 25,000 0.500 0.520 View Detail
24-Mar-2020 24-Mar-2020 Buyback 20,000 0.495 0.510 View Detail
23-Mar-2020 23-Mar-2020 Buyback 155,000 0.475 0.490 View Detail
20-Mar-2020 20-Mar-2020 Buyback 230,000 0.490 0.530 View Detail
19-Mar-2020 19-Mar-2020 Buyback 440,000 0.435 0.490 View Detail
18-Mar-2020 18-Mar-2020 Buyback 655,000 0.475 0.510 View Detail
17-Mar-2020 17-Mar-2020 Buyback 260,000 0.485 0.535 View Detail
16-Mar-2020 16-Mar-2020 Buyback 32,000 0.540 0.570 View Detail
13-Mar-2020 13-Mar-2020 Buyback 480,000 0.590 0.680 View Detail
12-Mar-2020 12-Mar-2020 Buyback 60,000 0.715 0.730 View Detail
11-Mar-2020 11-Mar-2020 Buyback 70,000 0.760 0.780 View Detail
10-Mar-2020 10-Mar-2020 Buyback 160,000 0.720 0.755 View Detail
09-Mar-2020 16-Mar-2020 Buyback 927,000 0.540 0.780 View Detail
09-Mar-2020 09-Mar-2020 Buyback 125,000 0.745 0.755 View Detail
05-Mar-2020 05-Mar-2020 Buyback 10,000 0.840 0.840 View Detail
03-Mar-2020 03-Mar-2020 Buyback 40,000 0.855 0.860 View Detail
28-Feb-2020 28-Feb-2020 Buyback 30,000 0.815 0.840 View Detail
27-Feb-2020 27-Feb-2020 Buyback 70,000 0.855 0.860 View Detail
26-Feb-2020 26-Feb-2020 Buyback 10,000 0.865 0.875 View Detail
25-Feb-2020 05-Mar-2020 Buyback 180,000 0.815 0.875 View Detail
25-Feb-2020 25-Feb-2020 Buyback 20,000 0.875 0.875 View Detail
20-Feb-2020 20-Feb-2020 Buyback 20,000 0.905 0.905 View Detail
19-Feb-2020 19-Feb-2020 Buyback 10,000 0.900 0.900 View Detail
18-Feb-2020 18-Feb-2020 Buyback 20,000 0.905 0.905
27/03/2020 5:11 AM
Philip ( Dr. Fauci my Hero) INSAS history of buybacks is only up to 2015. Why?

16-Jan-2015 16-Jan-2015 Buyback 200,000 0.890 0.895 View Detail
16-Jan-2015 16-Jan-2015 Buyback 200,000 0.890 0.895 View Detail
12-Jan-2015 12-Jan-2015 Buyback 100,000 0.820 0.820 View Detail
09-Jan-2015 09-Jan-2015 Buyback 200,000 0.825 0.830 View Detail
06-Jan-2015 12-Jan-2015 Buyback 600,000 0.775 0.830 View Detail
06-Jan-2015 06-Jan-2015 Buyback 300,000 0.775 0.775 View Detail
23-Dec-2014 23-Dec-2014 Buyback 200,000 0.810 0.820 View Detail
23-Dec-2014 23-Dec-2014 Buyback 200,000 0.810 0.820 View Detail
16-Dec-2014 16-Dec-2014 Buyback 200,000 0.755 0.755 View Detail
16-Dec-2014 16-Dec-2014 Buyback 200,000 0.755 0.755 View Detail
14-Oct-2013 14-Oct-2013 Buyback 200,000 0.590 0.595 View Detail
11-Oct-2013 11-Oct-2013 Buyback 100,000 0.600 0.600 View Detail
10-Oct-2013 10-Oct-2013 Buyback 300,000 0.610 0.610 View Detail
09-Oct-2013 14-Oct-2013 Buyback 997,700 0.590 0.610
27/03/2020 5:13 AM
Philip ( Dr. Fauci my Hero) Today INSAS history is at the lowest point, it is beyond a screaming buy. Yet the management does nothing. Why? What is the rationale? To protect the director that has 33% and not willing to trigger mgo? If not willing then why not give out a part of that 1.7 billion (330 million is a good start) on a special dividend to all shareholders. A special rm 1 dividend to long term shareholders.

Then I will believe INSAS is doing the right thing for investors and the price will surely go up.

But I believe they cannot, and will not.
27/03/2020 5:16 AM
Philip ( Dr. Fauci my Hero) When a growth company like serba dinamik is willing to buy back shares when management considers it undervalued, then you know the company is doing something.

20-Mar-2020 20-Mar-2020 Buyback 2,876,500 1.230 1.300 View Detail
16-Mar-2020 16-Mar-2020 Buyback 5,300,000 1.500 1.560 View Detail
13-Mar-2020 16-Mar-2020 Buyback 6,884,500 1.500 1.600 View Detail
13-Mar-2020 13-Mar-2020 Buyback 1,584,500 1.590 1.600 View Detail
10-Mar-2020 10-Mar-2020 Buyback 1,518,000 1.840 1.850 View Detail
09-Mar-2020 11-Mar-2020 Buyback 9,018,000 1.840 1.990 View Detail
09-Mar-2020 09-Mar-2020 Buyback 7,500,000 1.879 1.990
27/03/2020 5:19 AM
Philip ( Dr. Fauci my Hero) This is what INSAS should be doing when it is selling for 20% of NTA. Buyback shares and increase value.

Sslee, you need to be rational in your investments and ask the important questions. If INSAS is the MOST undervalued company in Bursa, then why is no one touching it, including management?

>>>>>>>>>

https://www.aljazeera.com/ajimpact/investors-pounce-softbank-shares-re...
27/03/2020 5:25 AM
Philip ( Dr. Fauci my Hero) My advice to you: if you are looking for get rich schemes to gain 100% in 1 year, then stocks is not something you should be putting money into. You would be far better served buying over someone else plantation in Sabah, Sarawak or Perak, and improving it. You seem to have a knack for running palm oil plantations. Or are you the type to just tell people what to do, and not get your hands dirty sometimes?

You seem to think buying stocks is an easy activity, just click a button and press buy. Gain 10%, click a button sell. Easy peasy. But nothing in life is ever easy.

It takes me 3 months to research into a stock, 5 year experience in the industry trying to find out the players, suppliers and game hangers. Another 3 years trying to understand the long term growth opportunities of the industry before you put a single cent into buying the stock.

I spent years in the O&G industry before knowing how to differentiate PCHEM versus lctitan, serbadk from the sumatec and carimin. I have my own palm smallholding in tawau and worked on refinery with boilermech before buying QL. I have worked with gkent before I even considered buying their shares last year. I have helped out paysys ingenico with some projects before giving stoneco a second look, I have followed yinson for 2 years before buying into it. My wife works for public bank before I learned how they structured their loan portfolio.

Believe me when I say to properly scuttlebutt, you need 10 years of knowledge before you can click the button. Even then, your stocks can drop in a blink and profit turns into losses.

Buying stocks is risky. When you think buying a company just because it is selling below nta( value investing margin of safety) is safe, that is when you do not look at ALL the factors. There are many other types of margins of safety, which I am sure you are starting to realize, after disasters like xinquan( NTA margin of safety), hengyuan (PE margin of safety), you will start to realize things like management ownership ( share buyback, shareholder margin of safety), consistency ( growth of earnings and revenues/debt margin of safety), performance ( ROE margin of safety).

The goal is not to make you rich. It is to help you make better decisions. When you finally start to like analyzing companies, doing valuation and reading about reports for fun? Then you will be rich automatically.


>>>>>>

Dear Philip,
Can you please refrain from smearing the good name of INSAS BOD and management team with your wild and malicious accusation of game the system without any clear evident or fact?

I had met and talk to Dato’ Dr Tan on INSAS Tech venture (challenge, success and failure rate) and Dato’ Wong on business rationale.

My advice to you, please empathize with those going through difficult time during this Covid-19 crisis and seeing their Investment value fall by more than 50%. Please do not spread fake news to create fear that does not benefit anyone. If you have crystal ball please tell us what shares to buy now that will give us 100% gain in 1 year time, spare us your lecture on quality investment for long term of 10 years for no one know are we still alive in 10 year time.

Thank you
27/03/2020 5:51 AM
Philip ( Dr. Fauci my Hero) Clear evidence or fact? I don't know if you are reading the same quarterly reports that I am, but it is written there in the notes.

Group’s summary
The Group reported revenue of RM85.2 million and a pre-tax profit of RM54.8 million for the
months period ended 31 December 2019 as compared to revenue of RM96.8 million and a pre-
tax profit of RM39.5 million reported in the corresponding period in the preceding year. The
review of performance by divisions is as follows:-
Financial services and credit & leasing division
The unit reported higher revenue and pre-tax profit of RM36.2 million and RM19.3 million for the
six months period ended 31 December 2019 as compared to the corresponding period in the
preceding year of RM28.1 million and RM10.5 million respectively, mainly due to higher revenue
generated by the structure finance unit, higher brokerage and corporate advisory fee income
generated by the stock broking and corporate finance advisory units and
<<< higher unrealised gain
on fair value changes of financial assets at fair value through profit or loss. >>>>

Investment holding and trading division
The Investment unit reported lower revenue of RM13.9 million for the six months period ended
31 December 2019 as compared to the corresponding period in the preceding year of RM30.8
million mainly due to lower trading activities in the current financial period.
Despite the lower revenue in the current financial period, the Investment unit reported higher
pre-tax profit of RM8.2 million for the six months period ended 31 December 2019 (six mo nths
period ended 31 December 2018: pre-tax loss of -RM21.6 million) mainly due to
<<<< unrealised gain
on fair value changes of financial assets at fair value through profit or loss of RM2.4 million and
lower unrealised loss on foreign exchange of -RM0.3 million in the current financial period as
compared to unrealised fair value loss of -RM21.9 million and unrealised loss on foreign
exchange of -RM5.9 million respectively in the corresponding period in the preceding year. >>>>>

Technology and IT-related manufacturing, trading and services division

The Technology unit reported lower revenue of RM2.4 million for the six months period SHARE ended
31 December 2019 as compared to the corresponding period in the preceding year of RM6.2
million due to lower sales of trading products in the current financial period.
The Technology unit reported lower pre-tax profit of RM21.6 million for the six months period
ended 31 December 2019 (six months period ended 31 December 2018: RM47.4 million) mainly
due to
<<<<lower gain on disposal of shares in an associate company of RM6. 6 million and lower
contribution from Inari Amertron Berhad Group of RM16.0 million (six months period ended 31
December 2018: RM24.4 million and RM21.8 million respectively).>>>>

Now that the value of assets has dropped by half, and disposal of shares to prop up INSAS business model is down to 1.14 at today's prices what do you think will happen to the next few quarters? What cash? There is no cash, everything is unrealized earnings. What happens when you try to realize EARNINGS today? Force sell those shares? What value do you get for INSAS today?

That is what I mean by gaming the system, UNREALIZED "fair value" gains versus cold hard cash flow. But you know what is REALIZED? YES, EXPENSES AND SHARE DILUTION.

Latest quarter results:

8.47 million administrative expenses
5.69 million operating expenses
5.181 million finance costs
22.396 million in cogs ( explain to me why 4.958 million of depreciation is lumped in here?)


>>>>>>>>


Sslee Dear Philip,
Can you please refrain from smearing the good name of INSAS BOD and management team with your wild and malicious accusation of game the system without any clear evident or fact?
27/03/2020 6:37 AM
Philip ( Dr. Fauci my Hero) Now, let me give you an example of how to game the system.

Let's use a real world example.

https://www.theedgemarkets.com/article/insas-buys-199-stake-diversified-gateway-rm128m

Let's say I buy 20% shares in a company called dgsb. In sept 2017 it is valued at 0.07( after consolidation). When I buy that 20%, the value of the company jumps to 30 cents in early 2018. So my valuation of my company it to record an UNREALIZED gain of 5x my initial investment, in this case 12.8 million in investment is valued at 60 million. WOW! But is this real cash or accounting land? Not until you sell it. And INSAS didn't sell. ( Latest report 25% ownership ). So what is their realized earnings if they tried to sell their stake of the currently worth 40 million ringgit company? Definitely they will take a loss, as dgsb has not grown or performed at all. No revenue growth, quarterly losses, no dividends, no share buybacks.

Now, you take the same activity spread out to all of the other companies it holds a stake in. Money from shareholders and dividends and private placements and warrants. You see the same pattern occurring. Overpaying for lousy companies, declare losses ( funny accounting indeed at some of these microcap subsidiaries).

Fake news? Tell me I am wrong. This is just 1 company they hold a substantial share in. How about the other companies they put money into like vigcash, melium, omesti, dgsb, the biotech company. I read every single one of the subsidiaries annual and quarterly reports and tracked back to their accounting calculations. Did YOU?

How much value was being inflated on UNREALIZED value, while real cash from m&a trading and stockbroking and inari dividends and share sales pumped away as "expenses" and investments?

This is why INSAS will never buy back shares with their "cash" and assets everywhere. They can't.

By selling their "assets" they will have to REALIZE value. And by REALIZING value you will find INSAS had very little CASH generating assets that people would pay high prices for. They will get a poor price indeed for their investments should they decide to move these illiquid businesses.

So you tell me, would you have received better investment value by putting your shareholder money 12.8 million into a lousy company dgsb with no past history of growth, dividends, revenue, earnings or share buybacks or put it into companies like hartalega (3.5 to 6.5 from 2017 to 2020), Nestle (85 to 137), aeoncredit (10 to 15 covid not withstanding), hong Leong bank (13 to 21 by end 2019).

Why would INSAS gamble in such a way?

Thank you.
27/03/2020 7:21 AM
Sslee Dear Philip,
When I see a crook I can almost immediately know he is a crook and I had no hesitation to say so to him in his face publicly and report him to SC and Bursa. But when I see a sincere person doing his best for the benefit of company and shareholders, I try to understand him, accepting his limitation (they are enable to buy as of ambiguity SC regulation on definition of PAC) and giving him credit where credit is due.

As of share buy-back, I remember attending CSCSTEL AGM asking the Board on buy-back/sell-back policy. The Board replied they can only do buyback if the price falls below NTA this is to protect NTA dilution or misused of Buy-back to support price for insider benefit.

Please also spare me your long lecture on how long you study and knowing the companies before you bought the shares. Tell me how long you study SERBA and do you know any SERBA Board members?

Thank you
P/S: I am not going to go through the financial report with you except telling you associate companies do not contribute the top line but the bottom line and please read the AGM minutes on bank deposit and borrowing. By the way how much unrealised loss your shares holding (Pchem and others) incur from quarter to quarter if you do a fair value gain/loss thro’ profit and loss base on mark to market.
27/03/2020 7:28 AM
Philip ( Dr. Fauci my Hero) I have been studying serba and mabel since qqq333 promoted it in 2018. I bought when the price dropped to great lows.

Thank you.
27/03/2020 7:46 AM
Philip ( Dr. Fauci my Hero) INSAS nta is rm2.68 versus today price of 0.47. like you said, immediate profit if management buyback company own share. But why don't they buy back shares?

Thank you.

>>>>>>>

As of share buy-back, I remember attending CSCSTEL AGM asking the Board on buy-back/sell-back policy. The Board replied they can only do buyback if the price falls below NTA this is to protect NTA dilution or misused of Buy-back to support price for insider benefit.
27/03/2020 7:49 AM
Philip ( Dr. Fauci my Hero) I'm sorry sslee, this is sounds like smoke?. Can you clarify exactly what is the ambiguity. If QL ownership can be more than 60%, what is the issue here?

>>>>>>>

they are enable to buy as of ambiguity SC regulation on definition of PAC
27/03/2020 7:52 AM
27/03/2020 7:53 AM
Sslee Dear Philip,
The issue is once Dato’ Sri Thong and PAC holding reach the threshold of 33% Dato’ Sri Thong need to offer conditional MGO.
For your information this is what Dato’ Wong replied to me last year on waiver.

Hi Mr Lee
Thanks for your past & continuous support & I personally have no objection to your proposed resolution. However, there are stringent processes, procedures and compliance requirements under the Bursa Listing Rules & Take-over Code that our CF advisers are looking into it and it is unlikely that we are able to make the waiver application in time for the approval of Insas shareholders by this coming AGM. We are seriously exploring this waiver proposal and if possible, we hope to initiate this waiver application process in year 2020.
Regards
wgk

Thank you
27/03/2020 8:02 AM
Philip ( Dr. Fauci my Hero) Since did not happen this year, or even after the warrants expiry date and stockraiders assumption. This is very obviously SMOKE.

Thank you.

>>>>>>


Sslee Dear Philip,
The issue is once Dato’ Sri Thong and PAC holding reach the threshold of 33% Dato’ Sri Thong need to offer conditional MGO.
For your information this is what Dato’ Wong replied to me last year on waiver.

Hi Mr Lee
Thanks for your past & continuous support & I personally have no objection to your proposed resolution. However, there are stringent processes, procedures and compliance requirements under the Bursa Listing Rules & Take-over Code that our CF advisers are looking into it and it is unlikely that we are able to make the waiver application in time for the approval of Insas shareholders by this coming AGM. We are seriously exploring this waiver proposal and if possible, we hope to initiate this waiver application process in year 2020.
Regards
wgk

Thank you
27/03/2020 8:02 AM
27/03/2020 8:26 AM
Sslee haha,
There are smoke and fire every where so buy at your own risk after your own due diligence
27/03/2020 8:42 AM
leno kekekekek ... NICE.
27/03/2020 10:43 AM
dragonslayer Aiyo...apa khabar....long time didnt come here...walao...left below 50sen oredy kah...last time chase price can hit 90sen wo...why now lelong like nobody want leh...all the associate listed companies...no sell one kah..hold tight tight ine ......missed the boat again ...unrealised profit also gone kah...become unrealised loss kah..nvm lah..later market better..will go back higher again lah...cash rich mah...
..lol...aiyoyo...kikiki
30/03/2020 3:39 PM


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