Tatooine

Tatooine | Joined since 2023-10-28

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Stock

3 days ago | Report Abuse

Board and Thing want low share price, will never use buy back, let share plummet so crap dividend looks better and excuse for them whilst they take shareholder cash out back door… hohup results out terrible , going bust. Omesti also terrible. Thong was lucky with inari , he will waste all the cash in the bank as has no idea how to invest. Buy more shop lot get 3% return he thinks great investment.

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1 week ago | Report Abuse

@sslee very different from being told what to do. Also shows independent directors are not independent. It undermines there answers.

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1 week ago | Report Abuse

@sslee , the ceo admission of what he has done means he admits that the rest of the directors gave a false statement at the AGM. I have passed his comment on. Thanks

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1 month ago | Report Abuse

Thanks @sslee, I do like the way you deliver fact based assessments.
As you outline everything is stuck and that I assume is why the market does not give insas a good share valuation compared to assets. How will adding more assets at a share discount valuation of 60% help ?
Cash at bank has a discounted valuation, so does inari and m&a let alone other valuable assets. All at a minimum 60% discount to share price.
If they go invest rm1 billion will market just value as 400 million as market sees shareholding and control as an issue like they always have ?

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1 month ago | Report Abuse

In the annual report he only has 462k shares.. that is very sad for a CEO and how much money he has.. why he does not mind giving such bad dividend and does not care about share price…. Just gamble cash on investments

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1 month ago | Report Abuse

Out of interest, how do I see how many shares Dato Wong has and his sales ? One place I looked he seems to have very little shares …

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1 month ago | Report Abuse

I am sorry @sslee but if you are being asked by CEO about investments and Indonesia I really have no confidence in the board. If Thong wants to throw his money away with the board help and waste it then either do a buy out or give bumper dividend and go do it with your own cash. As I said other than inari most business they invest in and Thing sits in the board all wasted cash and are in trouble. Hohup so bad Thong resigned trying to distance himself from mess he is board director and insas representative. Same for Omesti, another dead company burned all the cash , thing also always been board member there. So there is no track record for making investments that actually work. Anyone can invest … just give shareholders money back and he can go waste his own money.

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1 month ago | Report Abuse

Insas shares for 20 years never even got above price after IPO , now the board thinks it knows how to create shareholder value having failed for so long. An incompetent board sadly thinks it is competent. Of course they say they are doing there fiduciary duty, Thing told them to say that … ironic

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1 month ago | Report Abuse

Board directors are also dumping there shares as quickly as they can so they do not seem confident in what Thong is planning either. Of course they will never tell him that as they will lose there river of cash …

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1 month ago | Report Abuse

@sslee the Insas board other than investing in Inari have done very bad with other investments and failed as directors to increase the shareholders value. The only value shareholders want is a special divided and share buy back. Both Thong has told the board not to do and hence Insas share price is so bad. Omesti and hohup investment for example complete failures. Car hire also failure. Thong is privately doing his own property development like his project in Bukit Damansara to make his own money. Last thing I would want is this board being told by Thong where to invest lots of cash. Now is not the time to be making big investments in the market. Sadly something is going on which is why they are selling shares and as you say to make a gain on disposal as most other investments have been bad. Board can then pay themselves in the back , take more money and still shareholders lose out.

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1 month ago | Report Abuse

Some inari share sales .. Is that Thong selling 2 million inari shares ? So he makes money from a share price going up in another company but refuses to do same for Insas !

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1 month ago | Report Abuse

Thong via mainly his investment years ago in inari and his work with them has made Insas valuable. I do not disagree with that.
But for minority shareholders return via share price or dividend is the measure of value in a listed company. There he has failed and the board supports that.

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1 month ago | Report Abuse

The Directors say long-term value as some attempt to cover their incompetence and that they are just doing what they are told and not the best for the company.
I just checked; in 2000, the insas share price was higher than it is today 24 years later!!
If that does not tell you the current directors are not fit for their jobs, nothing else does!!!

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1 month ago | Report Abuse

It also states no major shareholder has asked for an application for waiver but the board is going to do it anyway. Talk about looking after one shareholder and not caring about the rest …

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1 month ago | Report Abuse

Insas Directors are in the hot seat.
Shareholders repeatedly declare how bad they are doing in returning value to shareholders through share price and dividends and NO share buyback still. It is like they want the share price to be this terrible.
we know they are not running the company for minority shareholders and only for Thong...
There replies to questions when so many shareholders complain about such a low dividend are textbook avoidance. They might have a cash call.... there is over 1 billion in cash and M&A now a separate listed company and raise funds which is why from a 100% owned company it dropped so much... complete coverup, Thong probably wrote there answers.
They even admit "The Board highly values inputs, views and opinion from all shareholders including
the controlling shareholder, " .. if they did we would have a much bigger dividend, but they have gotten rich and want to keep there directors fees and other money so do as they are told.
They say "We are cautiously optimistic that FY2024 will remain profitable" mainly from Inari as well so give a special dividend!!
https://www.insas.net/pdf/Appendix%20B_Key%20Matters%20Discussed_61st%20AGM.pdf

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1 month ago | Report Abuse

Insas over 1 billion cash and major shareholding in profitable strong company and little debt. Cannot even compare to capital A , which looks like it will get delisted.

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1 month ago | Report Abuse

It's great to see Inari share up and strong. Lots of value and also a lot of cash from the rights issue to still expand. Insa's share price is next to Rocket, the biggest shareholder in Inari; the share price is 90 cents, but NTAB is approaching RM4 now. Cheapest stock in bursa, also has RM1.1 billion in cash....

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1 month ago | Report Abuse

With Inari up Insas is now most undervalued share on bursa. NTBA approaching RM4, share price 90 cents!

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2 months ago | Report Abuse

If you review the financials of the company, you will see a 2.5 sen dividend is a very poor performance. the interest on cash in bank has a higher return!
Thing treats this as his own pet company and does not like shareholders.
I had a meeting with other Insas shareholders and no one says anything good about Thong or how he manages Insas. If he had not been good/lucky with inari he would be just another businessman making little money.
It is a deep shame as he could have a very opposite reputation if he gave shareholders their own money back in a special dividend,

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2 months ago | Report Abuse

EPF are useless ... anytime there is momentum, they just dump millions of shares and kill the share price rising. If they had any common sense, they would let the share price rise and then later sell. It would make a lot more money for EPF members.

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2 months ago | Report Abuse

Thong is so rich now he does not care. He most likely will, just like other linked companies, put his inexperienced kids on as directors to add more money to their gravy train...
If he actually wanted to or was brave enough to do the right thing, he would take it private or reward long-suffering minority shareholders, but he is not that kind of good businessman.

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2 months ago | Report Abuse

Insas dividend so bad the director Tan Seng Chuan has to sell his Inari shares !!
Over a Billion in cash in the bank and he is forced to sell Inari shares as Thong will not allow him to give out a proper dividend to Insas shareholders.

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2 months ago | Report Abuse

I have heard the repeated rumours but the buying strength of inari looks like something is happening. Hopefully so as a sale would force insas board to return funds to shareholders and it would be 3x current share price

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2023-12-05 10:02 | Report Abuse

But there are interesting links between people and 3rd party companies. I am actually enjoying this. From hohup land to revers takeover. My aim is to have enough to make current board accountable .

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2023-12-05 07:53 | Report Abuse

Unfortunately cannot say that yet…For this and other matters that we have been informed of need to be 100% confirmed before saying anything .

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2023-12-04 15:58 | Report Abuse

@sslee, my team had to go back a very long time but getting some interesting info on Anglo ... They have tried to really hide information....

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2023-12-01 10:38 | Report Abuse

Dividend announced (pathetic amount) but is still don’t see a payment date which is very strange.

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2023-11-29 16:42 | Report Abuse

How do you think Thong son at 33 with no real experience appointed a Board Director of Microlink?

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2023-11-28 17:05 | Report Abuse

First Inari then microlink. Thong not doing well.
Technology solutions provider Microlink Solutions Bhd recorded a 98.3% decline in its net profit for the second financial quarter ended Sept 30, 2023 (2QFY2024) to RM126,000 from RM7.22 million a year ago, due to lower margin from order fulfilments and progress billings.

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2023-11-27 16:32 | Report Abuse

I think it is safe to say Thong is doing what he wants and does not care about other shareholders and board are either blindly incompetent or party to it , either way they as directors are not doing their duty as directors

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2023-11-27 10:34 | Report Abuse

thanks @sslee, I have forwarded that to the researcher and lawyer; it is not the only one and more info coming in. it will take a bit of time then we will file it and make a complaint.

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2023-11-26 12:42 | Report Abuse

I believe people will not as Thing has official shareholders that he has to declare but also unofficial that he also control so too much risk for anyone to take him on. Hence even though new investor could make a lot of money by buying in they will never get enough control to get payback. I am trying a different route, spent time with lawyer on Friday and are finalising options. Also have enagaged someone to review other business transaction I have become aware of that need to be checked if properly declared like apartment block built…

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2023-11-23 19:05 | Report Abuse

Inari results not great, they still have RM600 million from last year rights issue not spent as well. whilst I think they will do ok, not going to rocket and competition is growing. Even more important for Insas to return value to shareholders. New director in Inari who is Thong appointment already stepped down after a few months... Behind insas wall of silence and Thong controlling everything things are not great.

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2023-11-23 00:31 | Report Abuse

@sslee they look good. Let’s see if they answer them

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2023-11-23 00:29 | Report Abuse

Also I have made a complaint to https://www.mswg.org.my/ and suggest everyone does , also I will tomorrow write to various media to highlight the irregularities going on at insas against minority shareholders

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2023-11-22 23:56 | Report Abuse

@sslee you are too kind. The dividend linked the net asset value is what I benchmark a boards performance on. Which means it is less than 1%. The board are purposely manipulating the share price to keep it low. As shareholders we have one option and that is to vote against all resolutions at the agm , thing and his friends have the majority shareholding. Yes not only has he got related party shareholders he has friends too. I only have a few million shares but will be voting against all agm motions and I hope everyone does as well

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2023-11-22 20:00 | Report Abuse

2.5 cent dividend is terrible. This board does not represent the minority shareholders and the independent directors are just doing as they are told and taking there fees. A rm1 dividend could have been given . Thong does not need the cash as he gets it other ways and minority shareholders are ignored

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2023-11-17 12:12 | Report Abuse

It would rise quickly if the EPF were not so silly as to dump shares now. You can see the buying momentum..
They were supposed to be investing in good stocks, this is a stock they should be supporting. My only hope is when Inari is sold they lose out.

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2023-11-09 18:58 | Report Abuse

Yes I now the companies very well. Omesti not done well. Simply appointing family not a good sign

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2023-11-09 17:42 | Report Abuse

Thong appointed his 33 year son Director of microlink. Not a good sign

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2023-11-09 09:45 | Report Abuse

If the company bought back its own shares would that also push Thong over a threshold ? Is that why he has told the board not to do it and they are complying ?

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2023-11-08 10:21 | Report Abuse

As you can see, for years, no one has wanted to take on Thong. You can look at it as you share that anyone with deep pocket could in theory asset strip Insas and make a lot of money. Unfortunately, it will not happen. Hence the situation that Thong is doing what he is doing and does not care.

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2023-11-08 10:09 | Report Abuse

sslee you are very supportive I see and know the management and it is good you emailed them even though they will do nothing. They are not a VC, Thong placed a good acquisition on Inari shares before they became big and that has put Insas it where it is. The car company is a bust, hohup is a bust, omesti & DGSB all not done well. So they buy like old school way shop lots and apartments. Yes Thong is trapped. He cannot increase his stake as he can't afford to buy the company. He controls the board 100% and is still on Inari board to control that. So Insas is now trapped, refuses to buy back shares, give shareholders cash back via dividend... Thong and friends don't need the money so for them no issue, just let it be how it is. They all meet at a bar in Damansara and do their side deals. Side deals like building apartment blocks...

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2023-11-08 08:15 | Report Abuse

He would have just sent it to Thong who probably deleted it. Thong & co can’t afford to buy back the company so just make money on the sidelines and through other ways and don’t care about share price and minority shareholders. Or the fact they look bad… sadly I don’t see anything changing either and northern does the market when your share price is a discount even to cash in the company..

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2023-11-07 14:33 | Report Abuse

That is not what the article says.. you include the m&a international as part of 25% , they say it is separate

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2023-11-07 13:39 | Report Abuse

This is an old article form edge but shareholding is much higher. Not sure what it is today .
Kok Khee has a 25.05% stake in Insas and his brother Kok Yun controls 11.19%. Another 18.77% is held by M&A Investments International Ltd, which, according to Insas’ 2018 annual report, is linked to Kok Khee. This would mean that the brothers have about 55% equity interest in Insas at present.

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2023-11-07 08:54 | Report Abuse

Insas has so much cash they if they wanted to could have been buying back shares for a long time but for some reason like a low share price and lots of cash… all about thong taking company back. He step down from Insas to make it look like he has distance , but stays on inari board … says it all

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2023-11-07 08:50 | Report Abuse

He worked for Thong for how long? Declaring he is independent but still doing what he is told… you don’t bite the hand that feeds you.

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2023-11-01 16:24 | Report Abuse

Share price 85 cents , NAV 3.53 ( 24% value) . One of the worst I have seen. Also, with over RM1 billion in cash. The market thinks Thong's management has no value. He and other management are on a gravy train. No need to give proper dividends. The last dividend 2.5 cents, which is a measly 0.7% return on value. Interest at bank gave more return than Insas Board give to shareholders... The independent directors are asleep or just doing as they are told and taking payment.

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2023-10-30 09:04 | Report Abuse

I will be getting enough people to force a rm1 one off dividend paid from cash bank balance. Time to return funds to shareholders