Omesti forced to sell microlink shares as it has no cash left. thong ruined another company

Ninja van Badly loss making . Sing $326 million loss 2023. Good they sold

Perhaps thong create his own account here to pretend he is warren buffet. I can tell you thong and the board of insas are rotten to the core, warren buffet is very respected, he admits his mistakes, is open and transparent and makes sure shareholders are rewarded with a share value. Insas board and thong activity do nothing to help the share price and most likely try to make it low. That is why the whole market think they are so bad…

They sold shares as they knew how bad insas was performing. The whole board should not be re elected

@sslee most likely yes Omesti. The board are not transparent and they are trying to hide/protect thong from looking incompetent which he is as long term Omesti board member. It is even worse as insas again provide financing so he knew all decisions and was central to those failures.

Insas holding a loss making company now, as I said bad management. They keep it open only so they can all have high paying jobs and bleed shareholder cash out of the company.

Insas sold long ago I believe … no longer ninja van shareholders

The independent directors of insas are going to be very exposed to legal action as they are not doing there fiduciary duty

Inari now up 21 cents

That is because the market and investors think Thong and the Directors of insas are both incompetent and manipulating the insas share price for their own gain rather than making value for other shareholders!

Inari doing well, Insas shareholders get no value how Insas is run, the opposite at the moment with Dato Wong and Thong selling shares to just cover loses through bad management and bad investments

Buying more shares , making this a personal fight as annoyed. Will do some blogs as well, as you can imagine will be very critical of current board and thong. I see Monteiro is being forced to sell shares, I bet he is getting margin calls from insas as securities pledged are now worth a fraction of value when pledged. This again exposes insas shareholders to losses, Thongs dirty group of friends and abuse of insas funds is shocking.

It’s a tragedy how badly insas is being run and managed. A massive value could easily be released for shareholder. The amount of cash in the bank is wasteful and the directors are not doing there duty by not distributing it and only following the orders of the major shareholder. In a properly regulated exchange they would not get away with it. An rm1 special dividend could be given tomorrow and would not have any cash flow issues. Insas is also performing badly under Dato Wong, they knew it was performing badly which is why they covered it up by selling shares to inflate profit and try and cover loses through bad management. All thong related companies performing badly.

Just read the detailed financial report, another investment disaster , terrible performance and losses bailed out by a dividend …. I suggest you read it, it really highlights how bad the company is performing. It would be more profitable if I was closed everything and got rid of all staff and over paid management . Sell the long list of low return assets and close under performing companies. The board should be ashamed of there performance

Even M&A listing was a con, syf shareholders were well rewarded with a special dividend, Insas shareholders as usual nothing. Dato Chee a good friend of Thongs was a substantial shareholder and made a lot of money … again I am sure thong also got rewarded. Then Chee appear at inari but then quickly stepped down, then at Ho hip, since 2021 on microlink board… Thong and friends get rich insas shareholders don’t !!!

Thong and friends draining cash from insas, no need to buy company when you can use shareholder cash however you want.

Insas board of not controlled by thong should also payout dividend ! Costs so high as top management paid a lot of money to keep quiet and do as they are told …

Inari results ok, giving another dividend… insas nothing. It does not matter how much cash in bank , this is about how the company is run which is badly

And this includes profit from share sale with no costs attributes which makes it even more suspicious

Terrible results! Where all these costs come from is the question !!

Omesti dumping microlink to raise desperately needed cash to survive. Thong long time board member just like he was Hoh up. Another complete disaster by him…Insas board look so bad for blindly doing what ever thong says. Can’t wait for this years agm answers

I am not sure how or even possible or might just be people selling off but when ever insas starts momentum someone tries to stop it …

Under thongs leadership hohup bust! Has insas leant money to hohup ? https://theedgemalaysia.com/node/712110 , next will be microlink and insas as they both have cash issues.

@sslee I thought and please correct me thing and pac already had this opportunity the last time and decided not to take private? I don’t think he will as he only owns 32 % officially but control the whole company and board. They just do as they are told. Why bother buying the whole company ?

If any believes thong only hold the shares he and related parties declare they are delusional… there is no enforcement or concern these businessmen have that anyone will do anything. It is why bursa has such a bad reputation… very sad to say but insas will only have value once thong no longer around… he is in such self delusion and has been for decades nothing will change.

Insas would also be in deep cash trouble if not that inari came to insas for funding. Now gives out cash

Omesti selling microlink shares as it has no cash and desperate. Thong also long time board member , he created mess there too. Microlink no cash , raising cash from insas… all terrible cash draining investments.

Another Thong disaster investment and his management!! HoHup had to sell development as have no cash to build it … even after sale they are over rm500 million in debt and look like they are finished. When things got bad what did Thong do ? Resigned from board and try and distance himself. A terrible businessman… imagine if thong finds another terrible investment and uses all of the insas cash and then need to keep giving more cash to stop that going bust! Insas would be ruined and it is possible he will do it!! Return cash to shareholders

Insas is nothing like Berkshire, Berkshire has a long list of successful investments . Thongs investments except inari have been complete failures. He got lucky with inari. Insas board are useless, any comparison to a well run company that respects its shareholders is very wrong. Berkshire shareholders have a great board. The complete opposite on insas.

The edge is trapped like many. He cannot sell as massive loss. His only hope is something happens to push insas backup and sell… every week Thong and insas board have to see publicly how useless they are at creating share price value for shareholders

Need an @sslee blog telling those buying inari shares it is half price to by insas shares compared to buying inari shares … big volume today on inari.

Thong has not learnt that… which is why so many issues with his investments and the one that has done so well he refuses to take profit and move on.

Why bother ? He gets all the cash out now he wants , has a board that are lemming and do what they are told. This is why share price so bad and no one interested . 20 years been like this. Only way to profit from insas in buy on dip sell on high. Other than that it is useless and thong wants it that way

Either way thong will not do anything

I have seen many share undervalued by acquirer and still go through on bursa

@sslee insas was 40 cents a share. Why not do it then ? I don’t think he ever will as he does not need to take nay money out of insas as a dividend as he takes cash out other ways and has already got plenty of money.

The rm92 million thong is telling the insas board they have to approve for microlink is clouded on the fact thong has done a deal to get his son on the board and that other directors are putting thong at the centre of why microlink has gone from 90 cents to 30 cents. That is not a clean well thought out reason.

You think thong is a great investor, I don’t

I am not a woke person and believe people can have different opinions and that is fine

Yes and you seem to do well at it which is great. But I feel my point is still very valid. If thong had a boss he would have been fired for so many mistakes .

You make a very ignorant comment that I don’t own or have owned business to suit your argument. So now you agree the. That hohup, microlink and Omesti Dgsb all bad decisions . Not sure what is left in your point that you say thong is so good at investment . You keep changing your point 🤷

@sslee so you now agree this was thing’s decision. And yes because he agreed to do this is why the whole situation has come about. This is your “somehow” . Previously you said lending money to the likes of microlink was good an no issue, what happens when like Hoh up, Omesti .. microlink also same . I was will end of with shares in another dead company that thing has sat on the board for over 10 years ..

@sslee , https://theedgemalaysia.com/article/insas-raises-stake-formis-resources might help you see why this all happened and again all thong.. not sure why you link thongs bad decision to anyone buying insas . Nothing to do with each other.

Thong is so desperate not to look like the failed investor he is that he will never sell the inari stake. Even if it costs insas shareholders 1 billion ringgit he does not care. His ego is more important

https://theedgemalaysia.com/node/709336 Not sure this is the first to change opinion on inari and others will follow or just someone low balling … definitely think insas should sell inari as enough profit . It could drop a lot …

Thong will not do anything. He has already become rich my draining cash from insas and doing his own developments and business . For big development in bukit damansara he did with another partner. He has not interest in doing anything with insas when the board are muppets/puppets and he controls everything.

I have heard insas already doing financing for microlink. Apparently some people blame thong for the mess at Omesti and microlink so he is forced to bailout microlink. Apparantly he is very arrogant the insas is his and the board will do as they are told …

I also queue at 40 cents.. Thong knows what he is doing and that is screwing over the shareholders. “ Insas is a family business masquerading as a public company” Thong is milking cash out of insas and other subsidiary companies. Be it fees, land etc he is making lots of money and that is why he pays the board well to keep quiet. Only way to make money in insas if you want to is buy and sell …

Malaysia market is a pawn between china and America. Correction coming. Nasdaq drop over 300 points Friday. Inari will get hit , it is only insas investment worthwhile.

I will wait for 80 cents then buy back, wait for increase and then sell.