If not for the sharks Insas would be hovering around 80 to 90 sen. I wouldn't be able to make a four fold gain. Sharks have a purpose. Swim with the sharks but don't get eaten.

Thong merely watches from the sidelines, he has his own plan, the ultimate end game.

Always buy before the sharks pump, and sell before they dump.

Sharks objective is not to take over. It's pump and dump. Sometimes they pump to drizzling heights, sometimes they just pump up 30%.

On 10th April during a Raya function Abang Jo said Bank Negara approval within 2 weeks. The 2 weeks is coming to an end soon. Something that was apparently done and dusted back in December is taking a longer time than expected.

I only started investing in Insas eight years ago and it has been such a wonderful investment. Thrice I completely sold off Insas because one of my investment rule is never to fall in love with any of my investment. I can easily let go of what I love at the right time for the right price. This brings us to the question of right timing. The best time to sell has always been when everyone else gets so excited.

Insas has all the superb financial numbers (well, except dividend yield) and yet, yet it drifts down continuously for weeks, with no end in sight. I already gave a likely reason. But people here mostly don't understand what I am saying. They think they are buying a dollar for a quarter.

I don't expect people here to understand what I am saying. Benjamin Graham, Warren Buffett, George Soros and the like-minded wouldn't understand anyway. That's how some people can make a four fold gain on Insas while others, well others are still waiting for Insas to move from RM1 to RM5 for their four fold gain.

The articles gave the impression that Insas rally is the start of a fruitful journey that would take the share to drizzling heights, and that a person would be a fool to miss this golden opportunity.

Insas rally was a result of sharks switching out of Dr Yu's companies into Insas. This excited Tong and also Chong who wrote lengthy articles to justify the spike comparing wonderful deep, deep undervalued Insas to Dr Yu's speculative overvalued companies.

Posted by Sslee > 1 hour ago | Report Abuse

On Feb 2026 if Insas is below 90 sen then Thong and PAC can collect all WC not already owned by them at 0.5 sen and then convert all the WC to insas.

Assuming that this takes place, there will be instant dilution of the NTA of Insas. And the losers will be the minority shareholders.

Insas-WC will expire in 22 months. How will Insas shares be played out until then? What is Thong's game plan?

KUALA LUMPUR (July 9): Insas Bhd is planning to raise up to RM132.6 million from a renounceable rights issue of redeemable preference shares (rights RPS) with free detachable warrants to repay its bridging loans.

In a filing with Bursa Malaysia, the group said the rights issue involves up to 132.6 million new redeemable preference shares at an issue price of RM1 per rights RPS, together with 331.51 million new free detachable warrants on a basis of two rights RPS and five warrants for every 10 shares.

The tenure of the rights RPS is five years and it has a dividend rate of 3.8% per annum based on the issue price of the rights RPS.

When Insas issued the RPS it was done with so much warrants (5 : 2 ratio) attached. Obviously Thong benefited the most from this.

speakup, don't make us all laugh at you. Hahahahahahaha 🤣

I think this is Thong's last chance to increase his shareholding via the exercising the warrants route. It's going to be difficult to justice another round of RPS with free warrants again because Insas is hoarding so much cash and M&A Equity Holdings has already been listed.

Posted by Sslee > 19 minutes ago | Report Abuse

On Feb 2026 if Insas is below 90 sen then Thong and PAC can collect all WC not already owned by them at 0.5 sen and then convert all the WC to insas. What will be Thong and PAC holding % of Insas then?


Approximately 55.2% of the enlarged share capital.

Thong and PAC have 218 million shares and 112 million warrants. Do your own calculation. It's simple Maths.

Benjamin Graham, Warren Buffett, George Soros and whoever out there wouldn't understand what I am saying. Only Thong knows this.

I doubt that most people understand what I am saying here. This is one reason why Insas price always drift down back. There's absolutely no reason for Thong to push up share price of Insas. He can get them so cheap at 90 sen at any time he chooses.

Insas setting such a low warrant exercise price of 90 sen greatly benefited Thong.

MrSslee, I want you to take note of this. If Thong exercise all his warrants at 90 sen he will instantly increase his shareholding in the the enlarged capital of Insas to approximately 42.5%. He is obliged to make a MGO at 90 sen but even if no one accepts the offer, Thong still will end up with 42.5%.

Aiyaa, don't know why you two want to debate. I still stick to my method buy cheaply, sell highly, repeat and make many fold gains.

Isn't Graham dead?

Ya, ya, hostile takeover isn't practical, once it's leaked out the price will go limit up. The most practical is Thong himself trigger a MGO by exercising all his warrants at 90 sen. But at 90 sen takeover price who wants to sell their Insas?

Btw speakup, someone is trolling you at Jayatiasa forum.

The smarter ones sold at 1.30 level.

Leno stuck in Insas 15 years gained no monetary benefits, Ah Thong stuck in Insas 15 years got received salary, bonus, Inari ESOS plan, meeting allowance, driver allowance, pet cat allowance etc.

This article first appeared as "Insas’ controlling shareholders may seek a waiver" in The Edge Malaysia Weekly, on June 24, 2019 - June 30, 2019.



THE controlling shareholders of Insas Bhd, Datuk Seri Thong Kok Khee and his brother Datuk Thong Kok Yun, are said to be mulling seeking a waiver from making a general offer for the company if they decide to convert the company’s warrants in February next year.

Such article will be repeated from time to time drawing more water fish into buying Insas.

Thong is a former stockbroker, he knows the rules, don't doubt that he isn't smart. He wants to keep Insas share price down.

Personally I think 2.40 will be the floor price in the near future because that's the minimum price LTAT will sell to Sarawak.

Not so long ago at one stage during a stock market crisis Insas temporarily dropped to below 40 sen. At that time Thong could have proposed a Selective Capital Repayment at RM1 to take it private. He could if he wanted to privatize Insas but he didn't, he doesn't, he wouldn't.

Four fold gain, four fold gain, hahaha.

Despite that, Insas share price has gone downhill since end of March ..... classic case of a value trap.

Inari will survive, Insas will survive.

Posted by Tatooine > 2 minutes ago | Report Abuse

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

Might not go back to 80 sen this year. Overall market sentiment this year is way better than last year.

The bulk of my Insas I sold at 1.28-1.29 level, and when price broke through 1.30 I waited until 1.34 before I unloaded my remaining Insas

Posted by Tatooine > 5 minutes ago | Report Abuse

Thong and board do not care about share price or shareholders

Yes, I have accepted this, and it's easier to play Insas accepting this fact. Others keep thinking Thong will privatize, or someone will make a hostile takeover. That's why they are stuck, refusing to sell.

@Tatooine, basically I have been making money from Insas by playing against the other shareholders, against the sharks, against the crocodiles like a poker game.

I don't care if Insas is a good investment company or not, it has been a great investment for me having made a 4 fold gain so far.

@MrSslee, Insas single digit PE due to timing of Inari shares sale manipulation.

@Tatooine, don't worry, Insas has plenty of cash to throw, still has Inari cash cow to milk.

The stars in the sky tell us that the best time to re-enter Insas is on this particular date ........ it's due ....... soon ........ not yet soon enough ........

Insas at 1.00 you are guaranteed to make a minimum of 10% gain within 6 months, Insas at 0.90 you are guaranteed to make a minimum of 20% gain within 6 months, Insas at 0.80 ...... eh, will Insas reach that level?

Posted by Sslee > 54 minutes ago | Report Abuse

I think insas is the only stock in Bursa where its market cap is below its net cash.
Most likely by next week able to collect some below 1.00 and then next month below 0.9

No, there are others e.g. FACBInd.

Posted by Income > 3 weeks ago | Report Abuse

Rule no. 1: The water is calm, don't think there are no crocodiles.
Rule no. 2: Don’t forget Rule no. 1.

🐊🐊🐊 still around.

Insas-WC now 0.215/0.22, hahaha 🤣

Bought Affin at 2.42.

In the afternoon will Insas drop below RM1?

Insas now 0.995/1.00 😱

Insas 1.00 😱