I gave bad news for you

From what I can see, the chongker has been suppressing the price and will continue to do so until the MGO In February

The warrants are as good as dead - as you know you couldn’t even sell them for half a sen (the lowest possible price) for the past few days

If you believe the theory, you should buy as much parent shares as you can and wait for the RM1 MGO in February

Why pay RM1 to convert when you can buy parent for 82 sen?

Just kiss your warrant cost goodbye and more importantly learn from the expensive mistake

You give too much credit to the chongker

If I were the chongker, why would I admit newcomers to the party - as the saying goes less men more share

If you do the sums, you will see that the chongker stands to make over RM500m from the value unlocking if the MGO is successful

What is a few sen to him (to buy us out) when he stands to make at least RM1.50?

We can always rely on basic human greed

I think the chongker has bought the 170m wb to burn, to ensure that he will be the only substantial conversion come February at which point his shareholding will increase from just under 33% to about 40%

This will then trigger the MGO at RM1, the conversion price and he will make sure that another 10% accept the MGO to make it unconditional

He will then slowly buy up the shares until he has sufficient say 70-80% before he unlocks value

We minority shareholders can only hope for the RM1 crumb - you can forget about getting any more unless you are prepared to wait one or two years for the unlocking

Sorry I meant risk free investing

It’s risk free gambling - buying at 82 sen to get RM1 MGO is 22% for 2 months or 11% per month!

Insas wb is dead man walking

I really pity the warrantholders who can’t even sell their holdings at a miserable half sen

18% for 2 months is better than ah long rate

Question is - how do we prevent this?

If we accept his MGO, DS Thong will get Insas for a song since the NTA is at least RM2.50 per share

Iif only DS Thong converts his warrants in February, his stake will increase to about 40% and he will trigger a MGO at RM1, the warrant conversion price

If he then manages to get 10% acceptances, the MGO will become unconditional and DS Thong will become controlling shareholder