Posted by stockraider > 2019-07-23 11:01 | Report Abuse

"Even if the Bank interest rates BLR is raised to 20% pa from current 5% pa...insas can even perform better than it is now loh...!!

This is how solid insas is loh...!!
And this is a golden opportunity to accumulate this wonderful counter b4 it should above Rm 1.00 by Feb 2020 loh....!!"

REMEMBER
The above is the solid point of insas over talam & QL loh...!!

OF COURSE TALAM MUCH BETTER THAN QL LOH...!!

Posted by dragonslayer > Jul 9, 2019 11:28 AM | Report Abuse

Aiyo..Tibet Monk...Talam better than Insas..return 100% faster leh...you must believe Calvin kor kor....aiyoyo...kikiki

Posted by stockraider > 2019-07-23 11:02 |

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Posted by stockraider > 2019-07-23 11:02 |

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Posted by stockraider > 2019-07-23 11:04 | Report Abuse

Posted by stockraider > Jul 9, 2019 6:44 PM | Report Abuse X

Means insas undervalue....got big margin of safety mah...!!

Should buy mah...!

If u go mcdonald u want to buy chicken burger at Rm 3.00 or Rm 6.00 leh ?

Of course u want to buy cheaper bcos more value & bigger margin of safety loh...!!

Posted by deMusangking > Jul 9, 2019 6:40 PM | Report Abuse

then y price lower than jaks!!!???

hahaha


Posted by deMusangking > Jul 9, 2019 6:45 PM | Report Abuse

Means insas no value....got small margin of safety mah...!!

haha


Posted by stockraider > Jul 9, 2019 6:47 PM | Report Abuse X

Bodoh fellow !!
Got Rm 550m net cash...no value meh ??

Posted by deMusangking > Jul 9, 2019 6:45 PM | Report Abuse

Means insas no value....got small margin of safety mah...!!

haha


Posted by stockraider > Jul 9, 2019 6:54 PM | Report Abuse X

"Like icon says see the front there is rainbow in the horizon loh...!!

Look at back...u see darkness & black cloud mah....!!"

We have already passed the darkside and brightness is all in front of us loh..!!

Look at the bright side of life loh....!!

Posted by (US/CHN trade war doesn't matter) Philip > Jul 9, 2019 6:48 PM | Report Abuse

Sifu raider? Why is it undervalue for last 5 years?


Posted by stockraider > Jul 9, 2019 6:43 PM | Report Abuse

Means insas undervalue....got big margin of safety mah...!

Posted by stockraider > 2019-07-23 11:05 | Report Abuse

Insas

At 81 sen per share V NTA RM 2.54
Number of Share: 693.33m
Market Capital (RM): 561.60m V NET CASH RM 550M

What do you get for this price?
IN ADDITION U GET INARI WITH A MKT CAP OF RM 600M EXCEEDING INSAS MKT CAP OF RM 562M...REMEMBER INARI HIDDEN RESERVE NOT BOOK INTO INSAS BOOK YET.

(A) From 2014 to 2018 (5 years)
Total Net Income 600.458 m (120.09 m per year)
Total Net Operating Cash Flow 186.175 (37.233 m per year)
Total Capex 63.028 m (12.6 m per year)
Total FCF 123.147 m (24.6 m per year).

(B) Balance Sheet 31.3.2019
Total Assets 2,357 m
Total Equity 1,724 m REMEMBER MKT CAP ONLY RM 562M. HUGE MARGIN OF SAFETY OR UNDERVALUATION OF RM 1162M LOH....!!

(C) ROA & ROE
ROA = 120.09 / 2,357 = 5.09%
ROE = 120.09 / 1,724 = 6.96%
REMEMBER PE 8X AND DIVIDEND YIELD 2.5% PA MUCH SUPERIOR THAN NESTLE PE 50X AND DIVIDEND YIELD 1.9% PA


(D) Valuation
P/E = 561.6 / 120.09 = 4.7x. NESTLE PE 50X
P/BV = 561.6 / 1,724 = 0.3255 REMEMBER NESTLE TO BOOK 37X VERY OVERVALUE

FCF yield = 24.6 / 561.60 = 4.38% REMEMBER NESTLE FREECASH YIELD 2.3% LOH...!!

CONCLUSION INSAS VALUATION IS MUCH SUPERIOR THAN OVERVALUE NESTLE LOH..!!

IF U INVEST IN INSAS , REMEMBER U GET NTA PER SHARE OF RM 2.54 PER SHARE WITH NET CASH OF RM 0.79 PER SHARE PLUS INARI INVESTMENT WORTH RM 0.86 PER SHARE LOH..!!

HUGE POTENTIAL UPSIDE RERATING APPRECIATION FOR INSAS LOH...!!

Posted by stockraider > 2019-07-23 11:05 |

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Posted by stockraider > 2019-07-23 11:06 |

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Posted by stockraider > 2019-07-23 11:07 |

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Posted by stockraider > 2019-07-23 11:08 | Report Abuse

INSAS A VERY GOOD MARGIN OF SAFETY INVESTMENT; THERE IS A GOOD OPPORTUNITY TO MAKE A BIG KILLING WITH VIRTUALLY VERY LOW RISK, BCOS THERE IS HUGE MARGIN OF SAFETY AND INSAS HAS TECHNICALLY BREAKOUT TO SHOW VERY BULLISH SIGN LOH....!!

BUY BUY BUY B4 TOO LATE LOH....!!

IT WILL RUNUP VERY SOON MAH...!!

For its nine months ended March this year, Insas registered a net profit of RM63.91 million on RM133.96 million in revenue.

While its share price is languishing at 72 sen, the company’s net asset per share as at end-March was RM2.59.

A few months ago, Kok Khee is said to have told a group of friends, “Insas is the most undervalued company on Bursa Malaysia”.

As at end-March this year, Insas was in a net cash position and had deposits with licensed banks and financial institutions amounting to RM553.68 million and cash and bank balances of RM114.63 million. On the other side of the balance sheet, Insas had short-term debt commitments of RM309.83 million and long-term borrowings of RM20.48 million.

Considering Insas’ share base is 663.01 million shares, this means that Insas has net cash of 54 sen per share.

It is also interesting to note that Insas is diversified, having stakes in stockbroking company M&A Securities Sdn Bhd, property development held under Insas Properties Sdn Bhd, car rentals under Insas Pacific Rent-A-Car Sdn Bhd, 43% in the fashion retailer Melium group and Dome Café in its stable of companies. Also under Insas is moneylending and project financing outfit Insas Credit & Leasing Sdn Bhd, just to name a few of its businesses.

Its shareholdings in listed companies include 19.1% in semiconductor manufacturer Inari Amertron Bhd. Inari at its close of RM1.59 last Friday had a market capitalisation of RM5.05 billion. Thus, Insas’ stake in Inari is worth RM964.55 million, which is more than double Insas’ market capitalisation of RM477.4 million as at last Friday’s close.

Other companies Insas has stakes in include 10.18% in software outfit Omesti Bhd, which closed at 40.5 sen last Friday for a market capitalisation of RM193.7 million, 7.98% in furniture company SYF Resources Bhd — which ended trading last Friday at 20 sen, translating into a market value of RM119.1 million — and 25.48% in computer software and hardware consulting company Diversified Gateway Solutions Bhd, which finished Friday at eight sen, valuing it at RM59.7 million.

Omesti, meanwhile, has a 5.65% stake, or 42.14 million shares, in Diversified Gateway Solutions, 61.53% in software company Microlink Solutions Bhd and 13.29% in construction player Ho Hup Construction Co Bhd.

Posted by stockraider > 2019-07-23 11:08 | Report Abuse

Posted by gohku > Jul 3, 2019 12:18 PM | Report Abuse

I am surprise, not many people recognise this wonderful gem except for a few like sslee, stockraider, Fabien and leno.

Insas Nta already Rm 2.54, it is making monies now and has net cash of rm 550m or rm 0.79 per share and trading at low Pe and has positive cashflow.

Its holdings on inari share alone is valued above insas market capitalisation, thus that warrant a strong buy on this counter.

As sslee and stockraider mention that the expiry of insas warrant in feb 2020, will give further support to insas share price, i have collected some insas at rm 0.785 and i hope can make good profit on this stock.

Good luck for all the insas investors and supporters.

Posted by stockraider > 2019-07-23 11:10 | Report Abuse

Very good reply from sslee loh...!!

Look here loh....!!

Insas earnings cagr 8.8% pa over 10 years basing on NTA of Rm 1.44 which is 10 yrs ago, if u use current share price Rm 0.815 we will be talking of return over cagr over 14% pa loh...!!

This is how fantastic return of insas....thats why raider says Insas hathaway is exactly same business model like Berkshire hathaway loh..!!

Posted by Sslee > Jul 5, 2019 8:55 AM | Report Abuse

Dear Philip,
How do you value your investment holding (quoted securities) asset?
So INSAS Investment holding asset (quoted securities and bonds), bank deposit, money lending and Inari (which generating dividend/interest/income/share of profit less loss) are considered as rerating of existing assets?
Do you know Insas book value of RM1.10 ten years ago, has increased by a total of RM1.44 to RM2.54 in 2018, or a high CAGR of 8.8% over the last 10 years?
Is revenue growth more important than profit growth? When the fact is INSAS derived profit growth from share of profit of associate companies.
Do you know associate company only given a book value of RM 357,628,000 in INSAS balance sheet? So how are you going to value 600+ million of Inari share?
Do not just argue for argument’s sake, please take out a pen and calculator and work out the Net Current Assets Value, Graham net-net value and etc
“The success in investing is not from buying things good, but buying things well” Howard Marks

Note: Your QL is now market cap 11 billion company with net profit to shareholder for the past 5 year as below (‘000):
216,743 206,236 195,921 192,079 191,400
Is this profit growth satisfactory and who is building castle in the air?

Posted by stockraider > 2019-07-23 11:11 |

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Posted by leno > 2019-07-23 11:13 |

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Posted by stockraider > 2019-07-23 11:13 | Report Abuse

If u r so concern of profit make must go to u, then please ask yourself how much profit QL and how much of it, is distributed to shareholders every year leh ??

Please note the proceeds of dgsb thailand disposal will stay with the company but about 8% of it will be distributed to the DGSB shareholder mah....!!

The balance funds remain with the company is just fine for me, bcos insas hathaway is a savvy investor loh...!! 9% cagr pa growth is better than fixed deposits 4% pa loh...!!


I AM LAUGHING AT YOU.

but more, i am sad for you. you think dgsb is doing good. but do you think the money is going to you? no way my office boy. it is going to another weird investment food and manufacturing, which is a totally different industry.
If Google decide one day to sell all their IT business and buy over kenny rogers and lafarge to " expand their business", do you smile and laugh and clap?

Posted by stockraider > 2019-07-23 11:14 | Report Abuse

I can see that they have NTA Rm 2.54 per share & growing from NTA Rm 1.54 10 yrs ago thus your comment is not true loh...bcos they are positively growing their wealth mah...!!

If u ask where the money goes, it is use for acquisition of new business and substantial increase in cash holding loh...!!

Thats why insas is growing steadily like berkshire thru careful steady invesment & prudence fund management like what had been done by berkshire mah...!!

Generally the reply from sslee tell u all, but u like an ostrich refuse to listen this loud & clear fact mah...!!


Dear Philip,
How do you value your investment holding (quoted securities) asset?
So INSAS Investment holding asset (quoted securities and bonds), bank deposit, money lending and Inari (which generating dividend/interest/income/share of profit less loss) are considered as rerating of existing assets?
Do you know Insas book value of RM1.10 ten years ago, has increased by a total of RM1.44 to RM2.54 in 2018, or a high CAGR of 8.8% over the last 10 years?
Is revenue growth more important than profit growth? When the fact is INSAS derived profit growth from share of profit of associate companies.
Do you know associate company only given a book value of RM 357,628,000 in INSAS balance sheet? So how are you going to value 600+ million of Inari share?
Do not just argue for argument’s sake, please take out a pen and calculator and work out the Net Current Assets Value, Graham net-net value and etc
“The success in investing is not from buying things good, but buying things well” Howard Marks

Note: Your QL is now market cap 11 billion company with net profit to shareholder for the past 5 year as below (‘000):
216,743 206,236 195,921 192,079 191,400
Is this profit growth satisfactory and who is building castle in the air?

Posted by stockraider > 2019-07-23 11:14 | Report Abuse

U don have to call anybody sifu loh...we are talking of investment principle mah...!!

Insas v QL is actually a fight of insas margin of safety investment v QL so call overvalue quality business mah....!!

Posted by (US/CHN trade war doesn't matter) Philip > Jul 5, 2019 12:27 PM | Report Abuse

Haha stockraider wants to win at all costs. I can respect that. Any more good calls sifu raider? End of the month insas 90 cents?

Posted by stockraider > 2019-07-23 11:15 | Report Abuse

What a stupid comment loh ??

If berkshire had sticked with bookvalue calculation for 60 yrs and just drop its bookvalue calculation recently, do u not think book value is a very good measurement leh ??

If not what the hell ?? Warren bookvalue as a basis of measurement for more than 60 long years leh ??

So do not belittle time & tested book value measurement loh...!!

Posted by (US/CHN trade war doesn't matter) Philip > Jul 5, 2019 12:59 PM | Report Abuse

Dear sslee, I advise you to put the pen and calculator first behind and don't take it out until you understand a little bit better how your business works, then you take it out because you can spin any sort of value to the stock as for your opinion of how the business is going to do in future.

Do you know why Berkshire dropped book value calculations this year annual meeting? It is because NTA and book value alone is a very poor indicator of the strength of a business.

Warren was referring exactly to this particular type of business INSAS, and why business performance comes first and valuations then second.

1. Very simple, how easy is it to sell 600 million inari share off market it on market without crashing it's value? Are you naive enough to think you will get full value for it compared to current share price, or there will be a big buyer for inari share. Face facts, big buyers will want a discount, just as buyers for INSAS are valuing it at a discount. Only amateurs think that balance sheet on paper and real life valuations are the same.

2. Book value of INSAS is 1.7 billion. Are you willing to pay up for INSAS shares? Why not? And why do you think other people will pay 1.7 billion for INSAS shares when they are getting 13 million a year in dividends? Preference shares? Why?

3. Is it growing? Yes. Will it continue to grow? Yes. Has it grown for past 5 years? Yes. Do you know exactly what the business if QL will perform 5 years from now? No one knows. But what certainty do I have? Every year the business is growing more than it did last year. So how do YOU know it will not improve it's double digits growth prediction by QL CEO for the next 5 years?

How long have you and raider u held INSAS? You attempt to say you bought a wonderful business, when there performance has not even been there, revenue dropping, earnings dropping.

And you think it will be a good earning company in future?

Posted by stockraider > 2019-07-23 11:16 | Report Abuse

Insas is one of the best result for this qtr compare with most of the poor result reported by klse companies this qtr mah...!!

Yes insas is a tower of strength with its huge cash holding loh...!!

This insas is one of the most defensive stock in klse today loh...!!

Buy insas u sleep well loh....!!

Posted by stockraider > 2019-07-23 11:16 | Report Abuse

Why Raider says Philip not smart loh...!!

Insas pays less tax u should be cheering instead of worrying loh..!!

Insas pays less tax bcos Rm 23m of its profits already pays tax or profit exempt from tax mah....!!

1. Associate profit Rm 13m already pays tax thus Insas no need to pay mah.....!!

2. Gain on disposal of Rm 11m due to share disposal no need to pay tax bcos capital gain loh....!!

Mr Thong is a savvy investment banker, just like warren buffet loh...!!
But one thing insas better than berkshire is that insas pays dividend but bershire do not mah.....!!

Posted by (US/CHN trade war doesn't matter) Philip > May 26, 2019 10:24 PM | Report Abuse

Stockraider, please think carefully. This latest quarter their taxes paid is 2 million. Meaning their real earnings is around rm10 million. They declared in latest QR profit of 28 million, meaning the balance 18 million is just fair value gain, paper profits, not real cash flow into the company.

So is the company really growing? Is the business units growing? Or will management continue to sell parts of successful businesses like inari to pay for their experiments in biotech, fintech and etc.

I believe that is the reason why INSAS is always undervalued. It is very hard to judge future cash flow, future growth, how much INSAS will be with 5-10 years from now.

Management refusal to hire a good manager like SSLEE, Calvintaneng and stockraider to manage INSAS investments is also a worrying issue.

I am sure you guys can do better in growing INSAS business.

Posted by stockraider > 2019-07-23 11:17 | Report Abuse

Posted by SaraInvestment > Jun 6, 2019 9:36 AM | Report Abuse

Sslee Dear all,
INSAS Business model is as follow:
Revenue generating wholly own or subsidiary companies namely:
1. M&A Securities Sdn Bhd: Effective equity 100%
2. Insas credit & Leasing Sdn Bhd: Effective equity 100%
3. Insas Pacific Rent-A-Car Sdn Bhd: Effective equity 79.5%
4. Roset Limousine Services PTE.ltd: Effective equity 79.5%
5. Tribecar Pte.LTD: Effective equity 63.2%
6. Investment holding and trading in quoted security, currency, derivative, property, service, wine, IT, telecommunication products and etc
Car rental is in very competitive industries with little growth opportunity
M&A Securities Sdn Bhd stock broking and corporate finance advisory in promoting SME companies to list on the ACE and LEAP Market. Less and less broking fees earned nowadays due to many people invest like Philip rather like quack traders with “Sailing” and margin anyhow should remain profitable
Credit and leasing is only for VIP clients with collateral. Very profitable interest charge not more than 12% p.a.for secured loans and not more than 18% p.a.for unsecured loans.
Property investment the return on rental income is poor at current overbuild situation.
Investment holding will continue with its investment strategies to look out for value and growth stocks that generate recurring income and capital gain.

Hence what the management is trying to do is to invest in associate companies (Listed and unlisted) and using INSAS cash to growth these associate companies:
Example:
Inari: Very successful
Ho Hup: Improving
DGSB: Hopeful
Melium Holding (Diffusin fashions, Lifestyle, Dome café): Very challenging (With the aim of listing in Bursa)
Fintech and Biotech: Start up with cash burning, hopeful for a breakthrough.
Total failure: SYF and Omesti (Management control but classified as financial assets at fair value through profit or loss)

Posted by stockraider > 2019-07-23 11:18 | Report Abuse

Covert or no convert is a strategic issue & not an issue of confidence mah....!!

Thong hold 32.9% ,if he convert it will trigger GO at Rm 1.00, once his holding cross 33% loh...!!

If Thong rope in his brother shareholding, it will trigger GO only when it cross 50% loh....!!

That will require him to take up at least another Rm 500m to do the General Offer loh...!!

U think the benefit v cost lah....!!
Thong already in control of Insas with his 32.9 % do he need to buyout the whole insas leh ??

On the otherhand buying out the whole insas maybe a very good idea too, since Insas is undervalue....he can sapu the whole company for enormous huge profit at cheap cheap price loh.....!! But then unlikely to be successful unless he is willing to offer Rm 1.50 at least loh...!!

Thong need to raise personal funding at least Rm 600m in order to launch a General OFFER to take it private, if it is unsuccessful will cost him around Rm 1.5 million loh....!!

The other strategy is to do a selective capital repayment using INSAS own resources...in this case, he need not use his own monies loh..!!
But selective capital repayment he need to launch the attack b4 the warrant expiry in order to be efficient loh...!!

Thong need the 75% independent shareholder support bcos his portion of 32.9% cannot vote loh...!!
That will mean the minority will be asking Rm 1.5 to Rm 2.50...now can the company willing to leverage leh ??

If Thong do nothing he will leave the warrant & PA expire he will get back Rm 60m cash for his PA and perhaps call for another round of corporate exercise likely to be another PA with warrant, that will drive up the share price of insas to above Rm 1.00 again loh....!!

Thong need to weigh his option...but for the MINORITY SHAREHOLDER LIKE sslee and raider whatever action Thong take will benefit us bcos we have huge margin of safety mah.....!!

Posted by 4444 > Jun 6, 2019 11:11 AM | Report Abuse

No convert meaning Thong non-confident in Insas future?

Posted by stockraider > 2019-07-23 11:19 | Report Abuse

Who don't know to make more monies u pay more tax concept where it benefit the whole nation leh ??

But if u make more money on your capital gain on your longterm investment, in msia is exempt from income tax mah...!!

Do u think Philip is willing to pay more tax on its profit on its share disposal leh ??

Thus Philip and wife are wrong to belittle on Insas not paying more tax mah.....!! Especially on profit on disposal of inari share loh..!!

Posted by Sslee > Jun 7, 2019 8:35 AM | Report Abuse

Dear Stockraider,
Philip is right when he pointed out “the more tax INSAS pays the better” because more tax pay mean INSAS now have more taxable profit or it mean wholly own or subsidiary companies are making more taxable profit.
1. M&A Securities Sdn Bhd: Effective equity 100%
2. Insas credit & Leasing Sdn Bhd: Effective equity 100%
3. Insas Pacific Rent-A-Car Sdn Bhd: Effective equity 79.5%
4. Roset Limousine Services PTE.ltd: Effective equity 79.5%
5. Tribecar Pte.LTD: Effective equity 63.2%

Refer page 132: 2018 annual financial report TAX EXPENSE (CONT’D)
Profit before tax: 100,873,000
Income tax at the Malaysian statutory tax rate of 24%: 24,210,000
Non-allowable expenses: 9,854,000
Income not subject to tax: (22,759,000)
Deferred Real Property Gains Tax on fair value adjustment of investment properties: 40,000
Effect of different tax rates in other countries: (379,000)
Overseas tax paid on dividend income: 487,000
Utilisation of previously unrecognized deferred tax assets: (998,000)
Deferred taxation not recognised in the financial statements: 98,000
Tax expenses for current financial year 10,553,000

Thank you

Dear 3iii,
Your advise noted with thanks. Currently I am holding dividend stock, undervalued stocks, growth stocks and trading stocks.
TQ

Posted by stockraider > 2019-07-23 11:20 |

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Posted by stockraider > 2019-07-23 11:21 | Report Abuse

UNDERSTAND THE BUSINESS MODEL OF INSAS MAH....!!

IF YOUR BUSINESS IS MAINLY INVESTMENT, ARE U WORRIED THE REVENUE HAS FALLEN BUT THE GROUP PROFIT HAS GONE UP ALOT LEH ??

PROFIT HAS FOR THE LATEST QTR MARCH GONE UP TO RM 28.5M V RM 8.7M IN DEC 2018 QTR WOH....!!

Posted by 3iii > May 24, 2019 8:09 PM | Report Abuse

>>>>

Posted by stockraider > May 24, 2019 8:05 PM | Report Abuse

Posted by stockraider > May 24, 2019 8:01 PM | Report Abuse X

Insas result is consider very good this quarter mah....!!



Posted by stockraider > May 24, 2019 8:01 PM | Report Abuse X

This means insas is a wonderful company loh....!!


>>>>


Insas

Core businesses are gruesome and as an aggregate, not profitable.

Inari's revenue has fallen 30%.

Posted by leno > 2019-07-23 11:22 | Report Abuse

Correct lor ... leno has retired for 9 years ... no pay tax for 9 years ... but earn multiple millions from share market lor ... HAHAHAHAHAHAHAH ... that's why leno can understand why insas appear to pay less tax ... LESS tax is GOOOOOOD LAr ... HAHAHAHAHAH ... INSAS CANTEKKKKKKKKKKK !!

Posted by stockraider > 2019-07-23 11:22 | Report Abuse

Posted by stockraider > May 24, 2019 9:39 PM | Report Abuse X

U mean berkshire hathaway is also a tool for warren buffet to play stock meh ??

THIS IS WRONG LOH...!!
The point is if u r competent and have great skill with good business model...it is usually very successful ....like the case of berkshire and insas loh...!!

Posted by qqq3 > May 24, 2019 9:31 PM | Report Abuse

the company is a tool for CEO to play stock market...... that is all.....no business model.

Posted by stockraider > 2019-07-23 11:24 | Report Abuse

REMEMBER THIS OLD ARCHAIC INTELLIGENT ADVICE WHEN U INVEST IN INSAS LOH....!!

And he shall be like a tree planted by the rivers of water, that bringeth forth his fruit in his season;

WHEN YOU PLANT A TREE - IT DOES NOT BEAR FRUIT INSTANTLY

IT TAKES TIME

IT BRINGS FORTH FRUIT HIS FRUIT IN HIS SEASON

HA!! THAT IS THE SECRET!!

IT TAKES TIME FOR DURIAN TO BEAR FRUIT



SO IS IN INVESTMENTS

WE MUST INVEST WHEN WE SEE SEEDS PLANTED. AND WATER THE PLANTS and measure its value and potential and compare to the share price

THEN WE BUY THE SHARES when there is huge margin of safety loh...!!

AND WAIT

AND WAIT

AND WAIT TILL FRUIT COMES.

Usually big fruits will come 3 to 5 yrs loh....!!

Posted by stockraider > 2019-07-23 11:25 |

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Posted by stockraider > 2019-07-23 11:27 | Report Abuse

CORRECTLOH JUST LOOK AT GENERAL RAIDER CALL ON INSAS VERY TRUE MAH...!!
U NEED TO BE SMART AND HAVE SPECIAL HARDWORKING TRAINING IN ORDER TO BE SUCCESSFUL LOH....!!

Lessons from – “The Five Rules for Successful Stock Investing” by Pat Dorsey. Pat Dorsey is the Director of Stock Analysis at Morningstar.

· Picking individual stocks requires hard work,discipline and an investment of time (and money). INSAS IS NOT CHINCHAI MAH..IT IS MONTHS AND MONTHS OF INTENSIVE RESEARCH DONE VERY CAREFULLY TO GUARANTEE GREAT SUCCESSFUL BUY LOH...!!

· You need patience, an understanding of accounting and competitive strategy and a healthy dose of skepticism . THIS TRUE LOH...RAIDER CAN ASK U TO BUY RM O.67 AND THEN ASK YOU TO SELL RM 0.83 WITHIN 1 MTH AND MAKE 20%, BUT RAIDER DON DO THAT BCOS RAIDER KNOW SUCCESSFUL MAJOR KILLING IN STOCK MARKET, NEED TIME TO DEVELOP, THATS WHY RAIDER ASK U TO KEEP LONG TERM AT LEAST 3 YRS .

· Buying stock means part ownership in a business .YES INSAS U ARE OWNING A SAVVY FINANCIAL CO LIKE BERKSHIRE HATHAWAY, THEY INVEST AND GROW BY INVESTING IN MANY GREAT COMPANIES LIKE INARI..!!

· Courage of conviction. U JUST LOOK AT RAIDER BOLD CONVICTION AND SAILANG CONVICTION WITH TP POTENTIAL 2.30, AND HOLD LONGTERM WITHOUT WAVERING EVEN MKT SELLDOWN...U WILL UNDERSTAND WHAT IS COURAGE & CONVICTION ALL ABOUT LOH.

· Companies with most conflict of opinion are often best investments ( think contrarian). CORFRECTLOH ALOT OF PEOPLE ARGUE AND BELITTLE RAIDER INSAS PICK, BUT RAIDER JUST STANDBY WITH THE GREAT CONVICTION OF INSAS SUREWIN, WITHOUT ANY FEAR....BCOS RAIDER KNOW....THIS IS ONE OF THE BEST PICK U CAN EVER FIND MAH..!!

EXACTLY SIMILIAR TO RAIDER MARGIN OF SAFETY APPROACH
Core principles of investing
o Doing your homework
o Finding companies with strong competitive advantages
o Having a margin of safety
o Holding for the long term
o Knowing when to sell

Posted by leno > 2019-07-23 11:27 | Report Abuse

there is no timing for value investing lor ... INSAS may shoot up to RM 2 and even RM 3 ... ANYTIME !! No such thing as waiting for 5 years .... leno bought something ... the next day shoot up high high many many time lor .... HAHAHAHAHAHAH .... INSAS CANTEEEEEEEEEEEEEEEEEKKK !!

Posted by stockraider > 2019-07-23 11:28 | Report Abuse

REMEMBER STAY ON COURSE LESSON, JUST A FEW MONTHS HOLDING INSAS U CANNOT BE ITCHY FIDE....AND HAVE SELF DOUBTS LIKE....VALUE TRAPS...LOUSY CO...CON COMPANY ETC....THESE ARE VERY BAD INVESTMENT CHARACTERISTICS LOH..!!

AFTER ALL INSAS IS ALREADY MAKING MONIES, BASED ON RAIDER INITIAL ENTRY RM 0.67 PRICE MAH....U ALREADY MAKE GOOD MONIES MAH...!!

BUT U WANT TO MAKE ALOT MORE MONIES OR NOT ??

IF U WANT TO MAKE VERY BIG MONIES...JUST STAY ON COURSE FOR LONGTERM...BE BRAVE DO NOT CAVE LOH......!

Posted by stockraider > 2019-07-23 11:28 | Report Abuse

NOT TRUE LOH....INSAS HAS Very much INNER BEAUTY VERY FEW SUITORS KNOW LOH...!!

1. IT HAS INARI THAT WORTH MUCH MORE THAN THE WHOLE INSAS MKT CAP.

2. IT HAS SUBSTANTIALLY UNDERVALUE PROPERTY ASSETS UNREPORTED LOH..!!

3. IT HAS SUBSTANTIAL UNDER VALUE INVESTMENT AND SECUIRITIES ASSETS not reported LOH......!!

4. MOST IMPORTANTLY IT HAS SUBSTANTIAL NET CASH AND PAYS INCREASINGLY DIVIDEND LOH...!!

If there is a beauty contest for the best investment stock...Insas definitely wins number 2..the most outstanding after sapnrg loh...!!

Posted by qqq3 > Mar 16, 2019 02:28 PM | Report Abuse

Insas is like a cock teaser. Beautiful on the outside, rotten inside.

Reminds me of sslee and his ultimatum.

Posted by stockraider > 2019-07-23 11:29 |

Post removed.Why?

Posted by stockraider > 2019-07-23 11:30 |

Post removed.Why?

Posted by stockraider > 2019-07-23 11:31 | Report Abuse

Correctloh....Warren Buffet already mentioned all investment eventually measure by bondlike return mah....!!

Insas at Rm 0.82 but its bondlike value Rm 2.54 mah....thus the value already there mah...!!

Why waste time speculate on Growth rate for QL, Nestle, Pchem, Dlady and Pbank leh ??
Ans : This is bcos the above share have low bondlike value, so no choice but to speculate on growth to justify overvalue share price loh...!!

Posted by leno > Feb 22, 2019 05:20 PM | Report Abuse

if u wan to be successful like leno or raider ... then u must follow us lor.
HAHAHAHAHAHAHAH ... common sense lor.
Leno not force force one. Tarak paksa paksa one.

What is INSAS value now ?
If someone want to takeoever INSAS ... will u willing to sell your share to them at 83 sen ? 90 sen ? RM 1 ? RM 2 ?
What is the net cash ?
What is the net asset?
What is the earning ?
No need to estimate growth at all.

Common sense.
It doesn't work this way ? Really ? How come it work for leno and raider leh ?
HAHAHAHAHAHAH ....

Be sincere to yourself lor. The choice is your to make.
Leno retired at 39 years old from medical doctor practise worr....
Now, top 10 half marathon runner veteran category.

Posted by stockraider > 2019-07-23 11:32 | Report Abuse

U all need to understand the margin of safety trumpeted by 3iii is not authentic mah.....!!

The real margin of safety is per intelligent investor advocated by the father of investment Ben Graham...where value is measured by tangible value and not speculated growth value loh....!!

Example insas NTA Rm 2.54 is tangible real value whereas Nestle Rm 149.50 is speculated growth value mah...!!

Remember insas is real tangible value and Nestle is speculation mirage value loh..!!


Posted by 3iii > Feb 22, 2019 05:42 PM | Report Abuse

It is hilarious to see raider trumpeting his margin of safety.

He has not comprehend the teachings of Graham and Buffett fully.

Let Munger explains intrinsic value again and hopefully he manages to get a clearer message.

Posted by stockraider > 2019-07-23 11:32 |

Post removed.Why?

Posted by stockraider > 2019-07-23 11:33 | Report Abuse

1st of all u need to understand what is patsy loh.....!!

1. If u buy margin of safety stock like insas at Rm 0.67 and when it when up to Rm 0.89 u did not sell....now drop back to Rm 0.82 is not patsy mah....!!

Why leh ?? This is bcos Insas got potential mah....the TP can be Rm 1.30....Rm 2.00....Rm 2.54 or even it is Rm 3.00 is not overvalue mah.....!!

In fact it is opportunity for other margin of safety investors to get on board this wonderful stock when there is a short term profit taking loh....!!

Posted by 3iii > Feb 22, 2019 07:54 PM | Report Abuse

Are you a patsy?

The perceptual apparatus of man has shortcuts in it. The brain cannot have unlimited circuitry.

So someone who knows how to take advantage of those shortcuts and cause the brain to miscalculate in certain ways can cause you to see things that aren’t there.

"So when circumstances combine in certain ways – or more commonly, your fellow man starts acting like the magician and manipulates you on purpose by causing you cognitive dysfunction—you’re a patsy.”


stockraider
11800 posts
Posted by stockraider > Feb 22, 2019 8:10 PM | Report Abuse X

U need to understand this loh....!!

Insas u invest with margin of safety mah...!!

Sapnrg u speculate with margin of safety loh.!

Raider into both mah....bcos both can make alot of monies mah...!!

Which 1 better ??

Answer If u r speculator sapnrg better whereas when u r an investor insas better mah.....!!

It depend on your preference & comfort when u buy share...bcos both can make monies mah....!!


Posted by KLCI Going Heaven > Feb 22, 2019 08:04 PM | Report Abuse

forget about insas lah, we in Bursa like those cheap counters
1. Sapura
2. Armada

What else, add on yourself

Posted by stockraider > 2019-07-23 11:36 | Report Abuse

Thats why raider says Philip no business sense loh...!!

U ask urself Insas NTA already Rm 2.54....the 19% inari exceed insas mkt capitalization and inari is still carry at cost without mark to mkt revaluation mah...!!

If privatise surely inari will be revalue...thus another Rm 0.50 add to NTA giving Rm 3.04 per share mah...!!

U must understand Insas is value at a fair value Rm 3.04 is the basis of valuation....this is correct mah...if u liquidate the whole insas mah..!! Insas PE 40x is not an issue bcos earnings is not a basis of measurement unlike QL PE 50x mah...!!

This can explain if u have a vacant Bungalow of Rm 3.0M and Rented Bungalow of Rm 3.0M with rental of Rm 5k per mth next to each other loh.!

Use logic bcos the bungalow not rented worth zero compare to the bungalow worth Rm 3.0m based on PE 50x based on rental Rm 5k a mth ??

Surely u r not so stupid to accept that as a basis of arguement mah..!!

Posted by (S = Qr) Philip > Feb 23, 2019 05:52 AM | Report Abuse

That is the silliest thing I have ever heard.

At to rm3, earnings of 7 cents (4 last quarters), you will be paying for INSAS
1.7 billion ringgit.
PE of 42++
Earnings of 46 million., From a revenue of 240 million. ( In 2010 it had a revenue of 423 million, 60 million in net profit)

For a company of shrinking profits. Unsteady revenues, bad business investments.
I'm all for speculation, but paying for something with warrants overhang, preferred shares and so many hidden hooks.... I don't get it.

This is what happens when you take "margin of safety" in vacuum.

Instead, read this:

http://www.berkshirehathaway.com/SpecialLetters/WEB%20past%20present%2..

Think grow rich.

Moving on.

Posted by stockraider > 2019-07-23 11:36 | Report Abuse

Thats why raider says Philip no business sense loh...!!

U ask urself Insas NTA already Rm 2.54....the 19% inari exceed insas mkt capitalization and inari is still carry at cost without mark to mkt revaluation mah...!!

If privatise surely inari will be revalue...thus another Rm 0.50 add to NTA giving Rm 3.04 per share mah...!!

U must understand Insas is value at a fair value Rm 3.04 is the basis of valuation....this is correct mah...if u liquidate the whole insas mah..!! Insas PE 40x is not an issue bcos earnings is not a basis of measurement unlike QL PE 50x mah...!!

This can explain if u have a vacant Bungalow of Rm 3.0M and Rented Bungalow of Rm 3.0M with rental of Rm 5k per mth next to each other loh.!

Use logic bcos the bungalow not rented worth zero compare to the bungalow worth Rm 3.0m based on PE 50x based on rental Rm 5k a mth ??

Surely u r not so stupid to accept that as a basis of arguement mah..!!

Posted by (S = Qr) Philip > Feb 23, 2019 05:52 AM | Report Abuse

That is the silliest thing I have ever heard.

At to rm3, earnings of 7 cents (4 last quarters), you will be paying for INSAS
1.7 billion ringgit.
PE of 42++
Earnings of 46 million., From a revenue of 240 million. ( In 2010 it had a revenue of 423 million, 60 million in net profit)

For a company of shrinking profits. Unsteady revenues, bad business investments.
I'm all for speculation, but paying for something with warrants overhang, preferred shares and so many hidden hooks.... I don't get it.

This is what happens when you take "margin of safety" in vacuum.

Instead, read this:

http://www.berkshirehathaway.com/SpecialLetters/WEB%20past%20present%2..

Think grow rich.

Moving on.

Posted by stockraider > 2019-07-23 11:37 | Report Abuse

Thats why raider says Philip no business sense loh...!!

U ask urself Insas NTA already Rm 2.54....the 19% inari exceed insas mkt capitalization and inari is still carry at cost without mark to mkt revaluation mah...!!

If privatise surely inari will be revalue...thus another Rm 0.50 add to NTA giving Rm 3.04 per share mah...!!

U must understand Insas is value at a fair value Rm 3.04 is the basis of valuation....this is correct mah...if u liquidate the whole insas mah..!! Insas PE 40x is not an issue bcos earnings is not a basis of measurement unlike QL PE 50x mah...!!

This can explain if u have a vacant Bungalow of Rm 3.0M and Rented Bungalow of Rm 3.0M with rental of Rm 5k per mth next to each other loh.!

Use logic bcos the bungalow not rented worth zero compare to the bungalow worth Rm 3.0m based on PE 50x based on rental Rm 5k a mth ??

Surely u r not so stupid to accept that as a basis of arguement mah..!!

Posted by (S = Qr) Philip > Feb 23, 2019 05:52 AM | Report Abuse

That is the silliest thing I have ever heard.

At to rm3, earnings of 7 cents (4 last quarters), you will be paying for INSAS
1.7 billion ringgit.
PE of 42++
Earnings of 46 million., From a revenue of 240 million. ( In 2010 it had a revenue of 423 million, 60 million in net profit)

For a company of shrinking profits. Unsteady revenues, bad business investments.
I'm all for speculation, but paying for something with warrants overhang, preferred shares and so many hidden hooks.... I don't get it.

This is what happens when you take "margin of safety" in vacuum.

Instead, read this:

http://www.berkshirehathaway.com/SpecialLetters/WEB%20past%20present%2..

Think grow rich.

Moving on.

Posted by stockraider > 2019-07-23 11:37 | Report Abuse

U need not be so dumb, to understand the business model of insas hathaway and it is same as berkshire hathaway mah...!!

If inari makes good capital gain, it is ok to take some money out of the table mah...it is all about investment mah...!!

Remember if u totally rely in the future u r speculating loh...my uncle use to buy 4ekor number 5454...he is speculating on the future mah..!
No one can say he may not strike one day loh..!
U see gambling is speculating on the future...in a way Investment in growth stock is speculating about the future loh..!! Even Pchem u pay Rm 8.50...when its NTA is Rm 3.50 u paying a premium hoping the growth can catch up mah.!!

But insas, u no need to speculate on the future the value is all there NTA Rm 2.54 u just pay Rm 0.82 for it r u speculating for the future when the value is all there for u to see leh ??

Posted by (S = Qr) Philip > Feb 23, 2019 06:05 AM | Report Abuse

After you read Warren's letter, you will start to think, do I want to buy INSAS for what it has done with inari IPO in 2011? Or what it is doing today and what it is trying to achieve in 5 years from now.

If investing is about the past, I would be the top20 shareholder in INSAS.
But investing is about investing in the future, and margin of safety does nothing to tell you about the future.

Warren's exact words:

"Too often CEOs seem blind to an elementary reality: The intrinsic value of the shares you give in an acquisition must not be greater than the intrinsic value of the business you receive."

You really need to ask yourself this simple question, INSAS is selling inari shares every quarter. For what purpose? What is it buying with the money? Is it a destruction of value or a creation of value?

If the CEO thinks selling inari shares is worth investing in companies like vigsys, sengenic, numoni and especially the new company acquisition, you have to value the growth of these two companies relatively.

" Insas Bhd has acquired a 19.91% stake in Diversified Gateway Solutions Bhd (DGSB) via direct business transaction from Omesti Bhd for RM12.83 million cash or 4.75 sen per DGSB share. "

If the answer is value destruction, then it doesn't matter how much the nta of INSAS is because the CEO will just gamble it all away.

Posted by stockraider > 2019-07-23 11:37 | Report Abuse

To explain the investment prowess of insas further...let raider take u 1 step further on ur example of DGSB loh....!!

" Insas Bhd has acquired a 19.91% stake in Diversified Gateway Solutions Bhd (DGSB) via direct business transaction from Omesti Bhd for RM12.83 million cash or 4.75 sen per DGSB share. "
If the answer is value destruction, then it doesn't matter how much the nta of INSAS is because the CEO will just gamble it all away."

USE UR BRAIN AND THINK LOH...SUPPOSE UR FRIEND OPEN COFFEE SHOP AND SPEND RM 120K CAPITAL ON IT...U VISITED HIM ON DAY OF OPENING...U FIND THE LOCATION IS GOOD AND THE FOOD N SERVICE ARE ABOVE UR STANDARD LOH.!

UR FRIEND STILL MAKE A SMALL LOSSES AFTER 3 MTHS OF OPENING, THE PROSPECT IS STILL GOOD BUT UR FRIEND IS IN URGENT NEED OF MONIES , HE PROPOSE TO SELL 30% OF HIS BUSINESS TO U....IS IT FAIR TO PAY 30% BASED ON NET BOOK VALUE OR RM 36K LOH ??
FAIR MAH....USUALLY IT IS DONE THIS WAY....BCOS U DON WANT TO EXPLOIT UR FRIEND which r in need MAH....!!

SAME MAH...AFTER INSAS BOUGHT DGSB AT 4.75 SEN today DGSB SHARE PRICE IS 9.00 SEN A GAIN OF ALMOST 100% MAH...!!

U ASK YOURSELF WHETHER THIS DEAL VALUE CREATION OR VALUE DESTRUCTION LEH ??

THE ANS OBVIOUS MAH...THATS WHY RAIDER SAYS INSAS IS EQUIVALENT TO BERKSHIRE HATHAWAY LOH....!!

WITH CONSERVATIVE MARGIN OF SAFETY INVESTMENT APPROACH OF INSAS U R IN A VERY SAFE HANDS MAH...!!

Posted by stockraider > 2019-07-23 11:39 | Report Abuse

Bungalow is assets...share is assets...business sense is making value on these assets works mah...!!

Use ur brain & common sense and think lah !!

U mean the Rm 3m rented for Rm 5k is worth Rm 3m whereas the vacant bungalow worth Rm 3m...is worth Rm 1.5m bcos vacant ?...use ur cow sense & think lah...!!

If u think like that ur real dumb loh....!!

Posted by (S = Qr) Philip > Feb 23, 2019 10:20 AM | Report Abuse

is a business a bungalow?

if the stupid wishes to make a analogy, how about a 3 million rented apartment in Malaysia, and a 10 million abandoned empty apartment here:

https://en.wikipedia.org/wiki/Varosha,_Famagusta

Yes, you could buy that apartment from the seller for 500 thousand (he will be more than willing to sell it to you), and it has a value of 10 million (if the turkish governemnt relents and reopens cyprus), but how long do you have to wait? or if it will even happen

Still don't understand how it works in the context of a business?

Surely you are not so stupid as to overpay for a business with underperforming assets?

Posted by stockraider > 2019-07-23 11:40 | Report Abuse

Bungalow is assets...share is assets...business sense is making value on these assets works mah...!!

Use ur brain & common sense and think lah !!

U mean the Rm 3m rented for Rm 5k is worth Rm 3m whereas the vacant bungalow worth Rm 3m...is worth Rm 1.5m bcos vacant ?...use ur cow sense & think lah...!!

If u think like that ur real dumb loh....!!

Posted by (S = Qr) Philip > Feb 23, 2019 10:20 AM | Report Abuse

is a business a bungalow?

if the stupid wishes to make a analogy, how about a 3 million rented apartment in Malaysia, and a 10 million abandoned empty apartment here:

https://en.wikipedia.org/wiki/Varosha,_Famagusta

Yes, you could buy that apartment from the seller for 500 thousand (he will be more than willing to sell it to you), and it has a value of 10 million (if the turkish governemnt relents and reopens cyprus), but how long do you have to wait? or if it will even happen

Still don't understand how it works in the context of a business?

Surely you are not so stupid as to overpay for a business with underperforming assets?

Posted by stockraider > 2019-07-23 11:40 | Report Abuse

The whole insas episode really points to the fact that Philip and 3iii don know what is all the real viable investment all about mah....!!

Thats why raider says these people only know how to drive their car fwd but they do not know how to stop or reverse loh...!!

If they only know, how to drive the car fwd, if they keep quiet, no one will laugh at them loh....but they open their big mouth n start to criticize people who know how to drive the car fwd, stop and reverse like leno, calvin and raider....thats why raider tembak them for being naive loh......!!

These people investment education are not complete especially when invest based on margin of safety loh.....!!

Posted by stockraider > 2019-07-23 11:41 | Report Abuse

U need to understand the vacant bungalow or empty land logic, value is already there even the assets are not generating return mah...!!

As long as u bought huge undervaluation & with big margin of safety u r fully protected mah....!!

U ask urself Insas NTA already Rm 2.54....the 19% inari exceed insas mkt capitalization and inari is still carry at cost without mark to mkt revaluation mah...!!

If privatise surely inari will be revalue...thus another Rm 0.50 add to NTA giving Rm 3.04 per share mah...!!

U must understand Insas is value at a fair value Rm 3.04 is the basis of valuation....this is correct mah...if u liquidate the whole insas mah..!! Insas PE 40x is not an issue bcos earnings is not a basis of measurement unlike QL PE 50x mah...!!

This can explain if u have a vacant Bungalow of Rm 3.0M and Rented Bungalow of Rm 3.0M with rental of Rm 5k per mth next to each other loh.!

Use logic bcos the bungalow not rented worth zero compare to the bungalow worth Rm 3.0m based on PE 50x based on rental Rm 5k a mth ??

Surely u r not so stupid to accept that as a basis of arguement mah..!!

When u have value already there why do u want to speculate 5354 4ekor can come out or not leh ??


Posted by (S = Qr) Philip > Feb 23, 2019 11:32 AM | Report Abuse

no one is laughing.

People are thinking carefully.

If a business is shrinking and not making money, the management has to keep trying new things to make things work. If it keeps on not working, you will have to sell shares to pay your dividends and grow the business.

If you buy multiple nonperforming business, the earnings and returns of which are negative, you business will suffer and get worse over time.

Only idiots and poor people think about share price all the time only.

Business results and management execution are of the utmost importance.

what is drive car fwd. stop and reverse?

office boy talk. good luck with your imaginary 250K, probably more like 2.5K sounds more like it with your investing personality.

Irrational, repetitive, stuck with using the same tools and concepts forever.

with your so called margin of safety: they had rights issue to dilute company shares in 2015 which they didn't even know how to fully utilize until 2017+. then they have esos to dilute company shares further. then they have warrants to dilute company shares even further. all to get RM137 million in cash.

Why? if you say they have so much assets and money, why need to do activities that destroy shareholder value?

Please wait until your share price goes to rm3 then you sell ya(hopefully in 2 years Jan 2021). those who only know how to drive a car fwd forever better than those who don't even know what a car is.

Good luck.

Posted by stockraider > 2019-07-23 11:41 | Report Abuse

Look at the logic loh....where did insas destroy value ??

Philip quote example DGSB....but insas is making almost 100% from the buy mah....!!

Insas networth has been growing every yr non stop for about 10 yrs...that is value creation mah....!!

Insas hold net cash more than Rm 300m...that means their balance sheet is more prudent than QL which has high borrowing loh...!!

People like Philip & 3iii don understand margin of safety investment, surely their comment are false & misleading unlike raider mah...!!

Insas with NTA Rm 2.54 and u can buy for Rm 0.82 & its networth is already there & growing every year non stop...why do u want to speculate in uncertain growth stock paying a huge premium... like my uncle speculate on 4 ekor.... who buy number 5354 hoping that it will come out loh..!!

Posted by stockraider > 2019-07-23 11:42 | Report Abuse

Why raider call Philip & 3iii stupid...stupid loh....!!

Raider is straightforward and frank always call a spade a spade mah & unlike leno more diplomatic mah....!!

If u don understand...explaination below u r damn stupid loh..!!

U need to understand the vacant bungalow or empty land logic, value is already there even the assets are not generating return mah...!!

As long as u bought huge undervaluation & with big margin of safety u r fully protected mah....!!

U ask urself Insas NTA already Rm 2.54....the 19% inari exceed insas mkt capitalization and inari is still carry at cost without mark to mkt revaluation mah...!!

If privatise surely inari will be revalue...thus another Rm 0.50 add to NTA giving Rm 3.04 per share mah...!!

U must understand Insas is value at a fair value Rm 3.04 is the basis of valuation....this is correct mah...if u liquidate the whole insas mah..!! Insas PE 40x is not an issue bcos earnings is not a basis of measurement unlike QL PE 50x mah...!!

This can explain if u have a vacant Bungalow of Rm 3.0M and Rented Bungalow of Rm 3.0M with rental of Rm 5k per mth next to each other loh.!

Use logic bcos the bungalow not rented worth zero compare to the bungalow worth Rm 3.0m based on PE 50x based on rental Rm 5k a mth ??

Surely u r not so stupid to accept that as a basis of arguement mah..!!

When u have value already there why do u want to speculate 5354 4ekor can come out or not leh ??

Insas networth has been growing every yr non stop for about 10 yrs...that is value creation mah....!!

Insas hold net cash more than Rm 300m...that means their balance sheet is more prudent than QL which has high borrowing loh...!!

People like Philip & 3iii don understand margin of safety investment, surely their comment are false & misleading unlike raider mah...!!

Insas with NTA Rm 2.54 and u can buy for Rm 0.82 & its networth is already there & growing every year non stop...why do u want to speculate in uncertain growth stock paying a huge premium... like my uncle speculate on 4 ekor.... who buy number 5354 hoping that it will come out loh..!!

Posted by stockraider > 2019-07-23 11:43 | Report Abuse

Even so the consolidation The points is insas still fall back to coffee shop story mah...insas did not really lose monies on buying into dgsb not like what philip had describe mah.....!!

THERE IS NO VALUE DESTRUCTION LOH...!!

" Insas Bhd has acquired a 19.91% stake in Diversified Gateway Solutions Bhd (DGSB) via direct business transaction from Omesti Bhd for RM12.83 million cash or 4.75 sen per DGSB share. "
If the answer is value destruction, then it doesn't matter how much the nta of INSAS is because the CEO will just gamble it all away."

USE UR BRAIN AND THINK LOH...SUPPOSE UR FRIEND OPEN COFFEE SHOP AND SPEND RM 120K CAPITAL ON IT...U VISITED HIM ON DAY OF OPENING...U FIND THE LOCATION IS GOOD AND THE FOOD N SERVICE ARE ABOVE UR STANDARD LOH.!

UR FRIEND STILL MAKE A SMALL LOSSES AFTER 3 MTHS OF OPENING, THE PROSPECT IS STILL GOOD BUT UR FRIEND IS IN URGENT NEED OF MONIES , HE PROPOSE TO SELL 30% OF HIS BUSINESS TO U....IS IT FAIR TO PAY 30% BASED ON NET BOOK VALUE OR RM 36K LOH ??
FAIR MAH....USUALLY IT IS DONE THIS WAY....BCOS U DON WANT TO EXPLOIT UR FRIEND which r in need MAH....!!

I think buying into DGSB is still good loh....!!