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How much Insas Profited from disposal of Inari Shares?

Sslee
Publish date: Tue, 01 Jun 2021, 06:28 PM
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Dear all,

 

Since My BFF Mike keeps asking me how much Insas profited from selling of Inari shares non-stop. Hence I wrote the below blog dedicated to Mike:

Purchase of Inari Shares          
Date Buyer Units Price Amount      
5-Apr-21 Montego          100,000 3.477              347,700      
2-Apr-21 Montego             50,000 3.450              172,500      
1-Apr-21 Montego             50,000 3.286              164,300      
29-Mar-21 Montego             50,000 3.260              163,000      
23-Mar-21 Montego          100,000 3.280              328,000      
22-Mar-21 Montego          100,000 3.281              328,100      
19-Mar-21 Montego          200,000 3.256              651,200      
Disposal of Inari Shares            
Date Seller Units Price Amount unit cost Cost Profit
27-Jan-21 Media Lang       5,000,000 3.436        17,181,750 1.5261       7,630,500  
26-Jan-21 Media Lang       5,000,000 3.203        16,017,000 1.5261       7,630,500  
3-Aug-20 Media Lang       5,000,000 2.296        11,480,000 1.5261       7,630,500  
30-Jul-20 Media Lang       5,000,000 2.131        10,655,000 1.5261       7,630,500  
29-Jul-20 Media Lang       5,000,000 2.006        10,030,000 1.5261       7,630,500  
28-Jul-20 Insas Plaza       1,000,000 1.970           1,970,000 0.2268          226,800  
23-Jul-20 Media Lang       2,000,000 1.880           3,760,000 1.5261       3,052,200  
23-Jul-20 Insas Plaza       1,000,000 1.880           1,880,000 0.2268          226,800  
22-Jul-20 Media Lang       3,000,000 1.876           5,628,000 1.5261       4,578,300  
22-Jul-20 Insas Plaza          500,000 1.864              932,000 0.2268          113,400  
21-Jul-20 Media Lang       5,000,000 1.881           9,405,000 1.5261       7,630,500  
21-Jul-20 Insas Plaza       1,000,000 1.887           1,887,000 0.2268          226,800  
20-Jul-20 Insas Plaza       1,000,000 1.798           1,798,000 0.2268          226,800  
17-Jul-20 Insas Plaza          500,000 1.753              876,500 0.2268          113,400  
15-Jul-20 Insas Tech     10,000,000 1.767        17,670,000 0.2268       2,268,000  
9-Jul-20 Insas Plaza       1,000,000 1.899           1,899,000 0.2268          226,800  
6-Jul-20 Insas Plaza       1,000,000 1.858           1,858,000 0.2268          226,800  
3-Jul-20 Media Lang       5,000,000 1.810           9,050,000 1.5261       7,630,500  
3-Jul-20 Insas Plaza       2,000,000 1.798           3,596,000 0.2268          453,600  
2-Jul-20 Insas Plaza          500,000 1.774              887,000 0.2268          113,400  
2-Jul-20 Media Lang          150,000 1.760              264,000 1.5261          228,915  
1-Jul-20 Media Lang       4,850,000 1.753           8,502,050 1.5261       7,401,585  
1-Jul-20 Insas Plaza          500,000 1.758              879,000 0.2268          113,400  
 Total        65,000,000        138,105,300       57,949,500     80,155,800
Quarter 1 Insas Plaza     10,000,000          18,462,500         2,268,000     16,194,500
Quarter 1 Insas Tech     10,000,000          17,670,000         2,268,000     15,402,000
Quarter 1 Media Lang     35,000,000          68,774,050       53,413,500     15,360,550
Quarter 3 Media Lang 10,000,000          33,198,750       15,261,000     17,937,750
As of today Insas holding of Inari:
Total no of securities after change
545,503,575
Date of notice
08 Apr 2021
Date notice received
08 Apr 2021
 
Remarks :
Indirect interest:-
(1) Insas Technology Berhad - 424,769,375 (No change)
(2) Media Lang Limited - 16,016,500 (No change)
(3) Insas Plaza Sdn Bhd - 103,867,700 (No change)
(4) Montego Assets Limited - 850,000

Note quarter 1:
Proceeds from disposal of share in an associate company: RM 86,445,000
Gain on disposal of disposal of share in an associate company: RM 30,761,000
This refer to disposal of Inari shares by Media Lang and Insas Tech and recorded under Technology and IT-related manufacturing, trading and services which disposal sum do not need to report as revenue.   
 
The Investment Holding and trading revenue: RM 26,538,000 and segment profit of RM 17,998,000 included:
Disposal of Inari shares by Insas Plaza RM 18,462,500 and gain on disposal of RM 16,194,500
 
Note quarter 2:
Technology and IT-related manufacturing, trading and services: Cumulative operation profit: RM 99,034,000
Or Q2 profit RM (99,034,000 – 30,200,000) = RM 68,834,000.
This is mainly from one off gain from disposal of associate company Sengenics which generated net proceeds from disposal of financial assets of RM 54,057,000. (Again the disposal sum do not need to report as revenue)
 
Note quarter3:
Investment holding and trading:
Revenue RM (49,895,000 – 30,338,000) = RM 19,557,000
Segmental profit RM (38,311,000 – 4,001,000) = RM 34,310,000 (mostly from gain on fair value change of financial assets at fair value thro profit or loss)
 
Technology and IT-related manufacturing, trading and services:
Revenue RM (106,022,000- 3,973,000) = RM 102,049,000
Segmental profit RM (113,095,000 - 99,034,000) = RM 14,061,000
*Certain figure in the preceding quarters has been reclassified:
Disposal of Inari shares Q3 by Media Lang RM 33,198,750 and gain on disposal of RM 17,937,750
The Disposal of Inari shares Q1 by Media Lang RM 68,774,000 has been reclassified into revenue items
Q1+Q3 disposal by Media Lang = RM 101,972,000
 
The rest other segmental report is easy to read and understand.
Hope this will satisfied Mike
 
INSAS Balance Sheet.
You decide whether INSAS is undervalued?
 

 

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Discussions
Be the first to like this. Showing 4 of 4 comments

Philip ( buy what you understand)

So how much has insas grown the shares sales results? After selling something for money, the only reason would be to grow that sales into a more successful business right? What has insas done so far with that money? Or have they distributed back to shareholders?

2021-06-02 05:48

Bgt 9963

Post removed.Why?

2021-06-02 08:16

Sslee

I can only say Insas management are managing the company prudently and conservatively.
They have plan to growth DGSB into food tech and glove manufacturing.

Will see how Insas will invest their cash hoard.

As minority shareholder, I will exercisee my rights to demand for better dividend.

2021-06-02 12:53

Sslee

By the way cumulative 9 months.
M&A + ICL already report profit before tax of RM 30.7 million.
And share of profit from associate companies RM 36.88 million.

Inari is on the next phase of expansion and I beilive the share of profit from Inari will growth further in year to come so is the dividend from Inari.

2021-06-02 13:00

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