Volume touches 97 million. What's happening?

At 10.30am Insas 0.985/0.99 only 5,000 shares traded. WC 0.185/0.19 1.76 million shares traded.

Slater Walkers raided Haw Par (Singapore Company) and gained a 51% control of the company in 1971 followed by 5 years of high profile corporate manoeuvre involving assets stripping and acquisition. Coincide with the 1972-73 bull run, its share price reached a height of Malayan dollars 15.60. The share price dropped below its par value after the arrest and put to jail some of the top guns in the Slater Walkers Group and also coincide with 1974-75 market collapse. Where is our Slater Walkers for Insas?

Teoseng so far dropped 12% to1.98, what is happening? From its peak of 2.50 the cumulative drop is 20%.

Plus 527 million of Inari @Rm3.19, that is Rm2.53 per Insas share.

Wah Insas is holding 1 billion share of M&A!!!! At 38 sen that is Rm380 million or 57 sens per Insas share.

15/11/2021 Insas peaked at Rm1.22 and then started to drop for the next 4 months until Rm0.775 on 8/3/2022. It then moved sideway for 13 months until 12/4/2023 it closed the day at Rm0.78. Whether the peak at Rm1.35 on 23/1/2024 marked the end of the current run up or the current correction is only a temporary pause before its next surge to another new height?

What is the news?

Hi Mr. Sslee, what is the?

Bursa is not an efficient market. One can find many other stocks like Insas such as Mulpha, Keck Seng, Allianz Malaysia, Kluang Rubber ....... just to name a few. Sigh!!!!!!

You can also exchange 1.375xPA for 1xFintec. Why 1.375? Simple, just divide the new conversion price by the base value of PA = 11/8=1.375.

In case some don't understand the 11-8=3. This 11 is referred to the new conversion price 11 sens and not the closing price of 11 for Fintec. 11-8= new conversion price 11 sen-PA base value 8 sen = need to pay only the difference and that is 3 sens.
Still do not understand, sorry I cannot help any more.

Today closing, Fintec 11 sens, PA 6.5 sens, WB 5 sens
Directly buy Fintec = 11 sens
Buy WB (that has no base value) and convert =5+10=15 sens
Buy PA (an irredeemable convertible stock that has a base value of 8 sens) and convert =6.5+3=9.5 sens.
Why +3 only ? Because PA has a value of 8 sens, so 11-8=3,
In 2017 you have to pay 8 sens to subscribe for 1 PA, as sweetener WB was given free.

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=205032&name=EA_DS_ATTACHMENTS Circular for PA released during lunch time. New conversion price at 11 sens. Confirmed.

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=205031&name=EA_DS_ATTACHMENTS Circular for WB released during lunch time

Fintec at this moment is 11.5 sens, Fintec-PA should be 11.5 sens - 3 sens =8.5 sens. Our market is not efficient.

WB also adjusted from 15 sens to 10 sens : https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=205032&name=EA_DS_ATTACHMENTS

1 WB + 10 sens for 1 Fintec now

Now can convert 1.375 PA (11/8=1.375) to 1 Fintec or 1 Fintec-PA (8 sens) + 3 sens to get 1 Fintec

Fintec has officially announced the revised Fintec-PA conversion price is 11 sens. https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=205032&name=EA_DS_ATTACHMENTS

RJ87, to answer your 'Mana Itu 4 Datang,' Please my comment carefully. I shall cut and paste what I have written in my previous comment on 7/12/2020 at 9.34am : "To convert PA to Fintec, since PA has a base value of 8 sens and if conversion is 12 sens, one needs to take out another 4 sens, so if the price of PA now is 5.5 sens, the cost of converting PA to Fintec is (5.5+4)=9.5 sens instead of 16.5 sens for WB."
The above is just to illustrate a point why PA is better than WB, I assumed a revised new conversion price of say 12 sens. Since PA has a base value of 8 sens (please note:WB has no base value), the difference between conversion price (assumed) of 12 sens and the base value of PA of 8 sens = (12-8) = 4 sens, so instead of buying a Fintec at 10.5 sens, you can buy a PA at 5.5 sens then add in another 4 sens to convert to one Fintec share. The cost is only 5.5+4=9.5 sens. If you buy a WB to convert, your WB price say 4 sens + 12 sens conversion =16 sens. The main difference is PA is an ICPS which is Irredeemable Convertible Preference Share that has a base value of 8 sens. That is why before the Ex-Right Issue date when conversion price was 16 sens, you can use 2xPA (2x8 sens) for conversion into 1xFintec.

RJ87, The calculation on pg 59 of that circular issued on 9 October by Fintec :https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=203724&name=EA_DS_ATTACHMENTS wasn't my work. This circular was prepared by qualified bankers specialized in this field that were engaged by Fintec. This circular with all the precise wording and calculation based on guidelines and standard formulae approved by relevant authorities such as Security Commission and Bursa Malaysia. This circular is a legal binding document approved by SC and Bursa before it was allowed to be issued to the shareholder. The calculation presented on pg 59 is not my calculation. I have no say in which parameter to be used and whether the figure should be divided by 1 or 2 or 3.

Fintec-PA is actually Fintec-ICPS, Fintec Irredeemable, convertible Preference Share that has a base value of 8 sens. In 2017 Fintec shareholders pay 8 sens to subscribe for 1 Fintec-ICPS (Fintec-PA original conversion 16 sens) with free WB(original conversion 15 sens)

WB is out of money as long as Fintec price is less than the conversion price.

I can't understand why investor buy Fintec-WB when Fintec-PA is available. For WB even if the new conversion price for both WB and PA is 12 sens, one need to take out 12 sens plus one WB to get one Fintec share.
For example at this moment Fintec is 10.5 sens, WB is 4.5 sens, PA is 5.5 sens. To convert WB to Fintec the cost is (4.5+12)=16.5 sens. To convert PA to Fintec, since PA has a base value of 8 sens and is conversion is 12 sens, one needs to take out another 4 sens, so if the price of PA now is 5.5 sens, the cost of converting PA to Fintec is (5.5+4)=9.5 sens instead of 16.5 sens for WB.
Please note that WB will be expired on 12/4/2022 and is out of many now when Fintec is at 10.5 sens whereas PA will expire only on 4/12/2027 and has a base value of 8 sens.

It is advisable to sell Fintec at 11 sens or even at 10.5 sens and use the money to buy Fintec-PA at 5.5 sens. Hold tight and wait for announcement on new adjusted conversion price for Fintec-PA(ICPS).

For an indicative new conversion price for Fintec-PA can refer to Fintec's circular to shareholders issued on 9 October. https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=203724&name=EA_DS_ATTACHMENTS.
Go to page 58 and 59, most likely it will be adjusted from the current 16 sens to 11 sens.
At 16 sens, conversion is 2xPA(2x8 sens) or 1xPA(8 sens)+8sens for 1xFintec.
But at 11 sens it will be 1.375xPA(1.375x8 sens=11 sens) or 1xPA(8 sens)+3 sens for 1XFintec.
AT Friday's closing price of 11 sens for Fintec, if new conversion price for PA to be announced soon is 11 sens, Fintec-PA (Base value at 8 sens) should be selling at (11 sens-3 sens) that is 8 sens and not the Friday closing price of 5 sens.
Rightfully Fintec should announce the new conversion price for its PA (ICPS) and warrant B on 24 November when Fintec went Ex-Right.
I have been collecting Fintec-PA at 5.5 sens since 24 November

In addition to what I have posted at 10:15, at the tentative new conversion price of 11 sens (wait for official announcement) one can either exchange 1xPA(8 sens) + 3 sens for 1xFintec or can exchange 11/8=1.375 PA for 1 Fintec share (instead of the current 2 PA for 1 Fintec). Rightfully the company should announce the new conversion price for both Fintec-PA and Fintec-WB on 24 November, the Ex-date for Fintec to the Right entitlement.

At Focus current price of 67 sens, the fair value loss is around Rm100 million. At 30 September the adjusted price after the 1:3 share split was 74 sens. Anything above 74 sens will have a fair value gain for the current quarter ending 31 December 2020.

Fintec -PA at 5.5 sens at this momenta should be a better bet than Fintec at 11.5 sens at this moment before the Company officially announce the adjusted new conversion price for PA due to the Right Issue. In its circular to share holder on 9 October, page 58 & 59 the conversion price of PA is likely to be adjusted from the current 16 sens to 11 sens. Wait for official announce soon. The implication is, since PA face value is 8 sens (issued price), if conversion is 11 sens, then one PA (8 sen) + 3 sen can be exchanged for one new Fintec share. At the current Fintec price of 11.5 sens, PA price rightfully should be 11.5-3.0=8.5 sens.

Similarly the current conversion rate of 15 sens for Fintec-WB will be reduced accordingly to a new conversion rate using some formula.

After the completion of the proposed Right Issue, the current conversion price of 16 sens will need to be adjusted accordingly.
The current conversion price is 16 sens. PA face value is 8 sens. Conversion now is 2xPA for 1x Fintec or 1xPA + 8 sens for 1xFintec.
After the proposed Right Issue, for illustration let's assumed that the conversion price is revised from 16 sens to say 12 sens, the revised conversion will be 3xPA (3x8sen) for 2xFintec (2x12sen) or 1xPA(8sen) + 4 sens cash for 1xFintec(12sen)

Once Fintec is above 16 sens it is better to hold the PA instead of converted 2xPA into one Fintec because PA can be treated as Warrant with conversion at 8 sens. If Fintec can up 4 sens to 20 sens, each PA rightfully should also up 4 sens to 12 sens. With 2 PA the gain is 8 sens double that of one Fintec.

If only he can play Fintec the way he play Focus that earn only 0.11 sen a share and net assets of 2 sens a share.

But if Focus were to continue with is current up trend until 30 September, fair value gain will sure to break Rm 1 billion. Don't know what game the owner play.

But once Focus share price collapses, all will go into the thin air.

Wait until 30 September and see whether Dow Jones can hold, KLCI can hold and Focus can hold around Rm2.40. If all can hold, Fintec is going to have fair value gain of about Rm 800 million, that will make the fair value gain of Rm128 million just announced for Quarter ending 30 June chicken feet.

Cannot compare Fintec with Berkshire Hathaway.
Berkshire H. has core business in Insurance and its investment holdings are big money earners like Coca-Cola, Bank of America, Apple, American Express, General Motor ..........etc
Fintec core business is biotechnology related fields that either losing money or sleeping. Its core investment holdings are penny stocks like AT(S), Mlabs, DGB, Vsolar, Netx, all losing money except Focus Dynamic that earned only 0.11 sens in the latest quarter with net assets at 2 sens but don't know why its share price can shoot to Rm2.40????

2xFintec PA = 1xFintec or 1xFintec PA + 8 sens = 1x Fintec. Maturity 4/12/2027
1xFintec WB + 15 sens = 1xFintec. Maturity 12/4/2022
Fintec WB selling now at 10 sens and Fintec PA selling now at 9 sens ???????

Today I sold all my Fintec at 18 sens and changed them into Fintec PA at 8.5 sens.

Don't understand why people willing to buy Fintec-WB at 9.5 sens when its conversion is 15 sens maturity date is 12/4/2022. Whereas Fintec-PA maturity date is 4/12/2027 and conversion is 8 sens and is selling at only 9 sens. When Fintec is 18 sens, rightfully Fintec-Pa should be selling at 10 sens.

To make money, timing is crucial. In 1996/97 bull run, there was not a single stock that was less than Rm 2.00. Even non-convertible redeemable loan stock with Rm 1.00 face value were chased to Rm 1.20. KLSE won't be able to perform (there are always a few exceptional stocks) until 1MDB and UMNO in-fighting can be resolved and Ringgit starts to strengthen. In a bull market everybody can talk like god even a taxi driver can advise you what stock to buy because all the stocks will move up (like Shanghai market now. The SSEC index has moved from 3234 at 31/12/2014 to today's 4813 (+48.8%)). If things really turn bad, Kbunai may go below 5 sens but if KLSE can have a bull run, I won't be surprised to see Kbunai ups one double to 12 sens. Buying stocks is all about stocks selection and good timing.

good to know that you know the world POLITE

To buy or not to buy depends solely on what is in the boss's mind for Kbunai.

Some good stocks fly sky high. Some good stocks just stuck on the ground. Some lousy stocks are dying but some lousy stocks are shooting through the roof. Small fishes may argue with red faces. The big fishes are watching from the top laughing. One of them is Chen Lip Keong (CLK) who is holding 74.27% of KBunai. In 2013, KBunai issued 2.9 billions shares valued at Rm0.1111 to CLK to settle Rm322.2 millions of debts. KBunai also issued another 320 millions shares also valued at Rm0.1111 to FACB, another company of CLK, to settle Rm35.6 millions of debts. For this 3.22 billions share alone, his paper lost is Rm132.4 millions. Will he do something to recover his losses ? Or whether he has already written-off KBunai as sunk cost and is prepared to wind up the company, or to take it to private ? According to Forbes, CLK is the No. 24th richest man in Malaysia with net worth at 750 millions. To fold up KBunai, no face right.