Way back in 2021 Insas was climbing up approaching satu ringgit. Leno here was rallying Insas satu ringgit, Insas satu ringgit, Insas cantek. It was a lot of fun as we all were cheering daily and then Insas broke through satu ringgit, broke through satu ringgit sekupang, then satu ringgit dua kupang. I sold off but I felt sad most didn't in particular Leno. Had Leno sold that time and later bought back when Insas dropped to 80 sen ......... had she sold that time ........ had she sold that time ........ wish we can turn back the clock.

I have been selling down my Insas shares and a small portion of the proceeds I have allocated to KPS.

Tong will definitely make money on Insas. His cost only 80 sen and he received 2.5 sen dividend. We all should also be happy for Tong.

Mr Sslee made substantial gains on Insas and I am very happy for him. All of us are here to make money on Insas. Some people made a bit, some made more, doesn't matter so long as everyone made money. But some people are upset about it. Us making money doesn't mean these people lost money. If Leno makes more money than all of us combined we all should be happy for her. We are all together here making money in Insas except that wallstreetrookie who cut loss on Friday.

Got interesting full page article by Tong in the latest The Edge Weekly on page 60. Everyone should read it and understand Tong's state of mind at the moment.

Better buy first thing in the morning.

Looks like tomorrow Affin will go limit up.

This year only 4 weeks I have sold only 4 counters, completely sold off my Kuchai, sold down some of my SBagan, sold down some of my Affin, sold down some of my Insas and today I checked my cash balance in my bank account, only RM450,000.

This article first appeared in The Edge Malaysia Weekly on January 8, 2024 - January 14, 2024

THE Sarawak State Financial Secretary is understood to be close to concluding a memorandum of understanding (MoU) which will lead to a deal to acquire an additional stake in Affin Bank Bhd from Lembaga Tabung Angkatan Tentera (LTAT).

At present, Sarawak has a 4.95% stake in the bank. The state bought the 112.56 million shares in mid-April last year at RM1.97 per share or RM221.74 million in total.


The Edge learns that Sarawak state is keen to acquire an additional 15% in Affin from the armed forces fund that has a direct 29.7% in the banking group while its wholly-owned unit Boustead Holdings Bhd has a 20.65% stake.

The talks for the MoU were more or less concluded late last year, according to sources. However, an agreement has yet to be signed.

I really love Insas. My original investment in Insas went up five fold last week which means I made a gain of four fold, that's four times what I originally invested. Insas paling cantek.

But Ah Thong very smart because he took salaries and bonuses for 50 years.

Leno says she trapped 15 years in Insas never sold. I think Ah Thong trapped 50 years in Insas also never sold.

I miss the forum here. Brings back fond memories.

@speakup, yes, proposals can be revised. That would definitely be better for Kuchai minorities.

Dear Mr Calvin, is Insas good buy or otherwise?

Leno from time to time speaks of having bought PM Corp for 8 sen or something like that. I never bought PM Corp at 8 sen but .
...... but, but I last sold my PM Corp at
around RM2.50. So, how long did PM Corp take to get from RM2.50 to 8 sen?

Hahahahahaha

Had Tong bought some Insas shares or warrants in the past week Insas would have guaranteed to climb up further tomorrow. Now it's isn't clear. It could go up or down or sideways.

@Income, contrarians are not traders, they are medium term investors. They buy when no one wants, they watch quietly when people start buying, they sell when people get excited.

If people here wants to believe in the bullshit that Sarawak is taking over Affin then go ahead. Sarawak's first 4.9% stake was done at RM1.97. My own average cost in Affin is RM1.89. :-)

Remember the official news is that Sarawak is buying additional 15% in Affin from LTAT. There's nowhere in any news report that Sarawak is taking over Affin. Only bullshit from some people.

KLK take over offer of RM1.55 for Bplant was the best price. Eventually LTAT had to match that price and call off the deal with KLK. This further burden LTAT financially.

Yes, Sarawak wants their own bank. On the other hand LTAT needs money to pay dividends to its members and since they couldn't sell down Boustead or Bplant, it's only Affin left that they could sell down.

Already made 4 fold gain on Insas, hahahahahaha.

The hype in the past week has been Tong making a take over of Insas or at least
substantially accumulating. So, it's very disappointing that he didn't increase his rather small shareholding.

Leno, if follow you I would not have been able to increase my original investment in Insas 5 folds.

I have one last batch of Insas to sell if price goes over RM1.40 . If it doesn't I probably be stuck with it for a year.

@Income, most little boys here will not sell unless told so by their mummies.

@speakup, part of my Insas proceeds have gone into KPS @ 82 - 82.5 sen.

@speakup, correct, I have been selling down, last price I sold was at RM1.34.

@Busino, if Affin does a 1 for 1 bonus issue, price will be adjusted to RM1.20 and if later price drops below RM1 some funds are prohibited from buying shares below RM1.

@metaverse, how to do a takeover if there's no way to acquire 50% plus one share?

Tong only owns 124,700 shares in Insas plus recently acquired 134,800 warrants. How to take over Insas with so little. Even myself held more.

LTAT and Boustead currently owns close to 50% , so there's no way of an hostile takeover. The only takeover is one that's decided by the Federal government such as Maybank or CIMB or RHB or even MBSB taking over Affin. Then it will be done at a price of at least 1 time book value.

Mikecyc, CNY coming. Be merry, be jolly, be happy.

With the 22,500 shares, had you sold all recently at RM1.30 you would be getting RM29,250. Your initial investment of RM6,000 about 10 years ago has grown to almost 5 times. This is happening to me. Insas paling cantek.

If you buy 10,000 shares at 60 sen, sells all at RM1.10 your original RM6,000 becomes RM11,000 and with that amount you can later buy back say, 15,000 shares at around 70 sen. Then sell the 15,000 shares at RM1.20 to get RM18,000. Later when price drops back to say, 80 sen, you can buy 22,500 shares.

In the last 10 years I completely exited from Insas twice around the peak and with the gains made was able to buy back more Insas shares when it dropped back.

I started holding Insas about 10 years ago, never made it to the top 30 shareholders list, never dream of making anyway. :-)

EPF is 4th largest shareholder at 6.5%, Sarawak 5th at 4.9%. The top three are LTAT, Bank of East Asia and Boustead.

The top 30 shareholders of Affin own 87.7%. There's not much free float in the open market.

Oh yes, it was the Asset Management company that was sold.

To the others : Don't sell your Insas unless your mummy tells you to ........ haha.

Official news is additional 15% stake to be sold. Some people just spreading bullshit about a takeover.

Federal government aiding LTAT in the MGO of Boustead and Bplant. LTAT doesn't need to give up Affin but need money to pay good dividend to its members.

Quote from the above article : "over the last 10 years, Insas has traded above RM1 for only a few months in 2014 and a brief
period in 2017."

@speakup, thanks.

To do a take over on Insas whether hostile, friendly, sneaky, openly or whatever, the person must acquire 33% first. But first whoever is taking over Insas must announce himself as a substantial shareholder once he has crossed 5% shareholding. So far, has anyone one crossed 5%?

@Income, if Insas goes to RM4.00, Insas-CA will go to how much?

Remain focussed on the sole reason why Insas share price spiked since two weeks ago. It is due to name dropping of a famous former banker. How much shares does this famous former banker holds in Insas? Has he accumulated 5%? Will he be announcing himself as a substantial shareholder?