Posted by RX350 > 2019-07-02 11:11 | Report Abuse

Trapps The announcement is out??? So what. Did the stock move up??hahaha.. stupid trick

Don't buy loh, why you bother so much? lol

Posted by RX350 > 2019-07-02 11:12 | Report Abuse

trap666 huh !? what kind of announcement ? you think the stock will move bcos of the annoucement !? You all got trapp almost 3 years still sleeep in cave arh ???

STUPIT

Posted by SaraInvestment > 2019-07-02 11:36 | Report Abuse

doreami Anyone has read the latest news bout insas ctrling shareholders may seek a waiver?


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.

The “if” comes about as the warrants issued in end-February 2015 are out of the money, trading at 3.5 sen, while the strike price to convert the warrant to a share when it expires on Feb 25 next year is RM1.

Insas’ mother share, however, closed last Friday at 72 sen, a 28% discount from the warrant’s strike price, which makes it more meaningful to buy direct into the mother share as opposed to buying the warrant and converting it.

“I do not think any of the warrant holders will convert,” one warrant holder says.

Insas’ October 2014 circular to shareholders says that should Kok Khee and any of his related parties, “exercise their warrants such that their shareholdings in Insas increase to more than 33%, whether on an individual basis, Datuk Thong Kok Khee and/or any of his related parties is obliged … to undertake a mandatory offer for all the remaining Insas shares not already held by them after the exercise of the warrants”.

Kok Khee has a 25.05% stake in Insas and his brother Kok Yun controls 11.19%. Another 18.77% is held by M&A Investments International Ltd, which, according to Insas’ 2018 annual report, is linked to Kok Khee. This would mean that the brothers have about 55% equity interest in Insas at present. Meanwhile, Kok Khee has 31.45%, or 83.41 million, of the warrants while Kok Yun has 31.74 million, or 11.97%.

If Kok Khee and Kok Yun pay RM115.15 million to convert their warrants and, assuming that none of the warrant holders convert, they would control 61.66% of Insas.

To put things in perspective, over the last 10 years, Insas has traded above RM1 for only a few months in 2014 and a brief period in 2017.

Insas’ warrants came about in July 2014, when it issued 138.7 million preference shares at an issue price of RM1 a preference share, on a basis of one preference share and two warrants for five shares held. In a nutshell, Insas was looking to raise RM138.7 million, largely for M&A Securities.

Checks on Bloomberg reveal that there are 265.2 million warrants still trading and 132.6 million preference shares have yet to be redeemed. But it is not that Insas needs the warrants to be converted to raise funds to redeem the preference shares.

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 SaraInvestment > 2019-07-02 11:38 | Report Abuse

https://www.theedgemarkets.com/article/newsbreak-insas-controlling-shareholders-may-seek-waiver

Posted by doreami > 2019-07-02 11:52 | Report Abuse

Thanks Sara. Actually.. i don't really understand bout the news. lol

Posted by SaraInvestment > 2019-07-02 12:10 | Report Abuse

doreami Thanks Sara. Actually.. i don't really understand bout the news. lol

Welcome, I think this is more to INSAS instead of DGSB

Posted by doreami > 2019-07-02 13:03 | Report Abuse

Thanks Sara

Posted by INAR12 > 2019-07-02 17:04 | Report Abuse

UP

Posted by RX350 > 2019-07-02 19:25 | Report Abuse

:)

Posted by trap666 > 2019-07-03 00:06 | Report Abuse

INARI is ntg to do with DGSB

Posted by SaraInvestment > 2019-07-03 10:14 | Report Abuse

doreami Thanks Sara

Cheers

Posted by INAR12 > 2019-07-03 12:34 | Report Abuse

Looks good

Posted by Trapps > 2019-07-03 13:27 | Report Abuse

Tml drop again...hahaha..dun so happy yet

Posted by B4b4 > 2019-07-03 14:45 | Report Abuse

Wow..... Wow........
Wow........ Wow.......

Posted by B4b4 > 2019-07-03 14:46 | Report Abuse

Buy..... Keep....... Because...... ZERO DEBTS..... CASH RICH....

Posted by RX350 > 2019-07-03 14:47 | Report Abuse

HUAT AHHHHHHHHH!!!!!!!!!

Posted by RX350 > 2019-07-03 14:47 | Report Abuse

Trapps Tml drop again...hahaha..dun so happy yet

STUPIT

Posted by RX350 > 2019-07-03 15:00 | Report Abuse

trap666 INARI is ntg to do with DGSB

DAMN STUPITTTTTTTTTTTTTTTTTTTTTTTTTTT

Posted by moneycome123456 > 2019-07-03 15:15 | Report Abuse

Dgsb good job

Posted by Bus0829 > 2019-07-03 15:19 | Report Abuse

Inari acquire with 0.15

Posted by INAR12 > 2019-07-03 15:30 | Report Abuse

UP UP UP

Posted by QUICKLY BUY > 2019-07-03 15:36 | Report Abuse

cheap PENNY coming....

Posted by shacarlos > 2019-07-03 16:04 | Report Abuse

BUY....!!!!!!! ;-)

Posted by SaraInvestment > 2019-07-03 16:06 | Report Abuse

HOLD TIGHT, MORE TO COME

Posted by B4b4 > 2019-07-03 16:07 | Report Abuse

Lai...... Lai...... Huat Ah....

Posted by doreami > 2019-07-03 16:18 | Report Abuse

more news coming?

Posted by new2017 > 2019-07-03 16:23 | Report Abuse

COME COME COME UP UP UP.....................

Posted by SaraInvestment > 2019-07-03 16:32 | Report Abuse

Only believers will be rewarded in the end.........

Posted by INAR12 > 2019-07-03 16:40 | Report Abuse

nice

Posted by Bus0829 > 2019-07-03 18:01 | Report Abuse

Inari acquire 0.16

Posted by INAR12 > 2019-07-03 18:15 | Report Abuse

really?

Posted by Hohup > 2019-07-03 18:24 | Report Abuse

Inari acquire at 0.20
Inari acquire at 0.30
Inari acquire at 0.40
Orr perhaps the best is Inari acquire at 0.70

So funny

Posted by Bus0829 > 2019-07-03 18:37 | Report Abuse

Insider news
Inari acquire
0.16++

Posted by INAR12 > 2019-07-03 18:43 | Report Abuse

HAHAHA

Posted by MK7R > 2019-07-03 19:17 | Report Abuse

:)

Posted by Trapps > 2019-07-03 20:07 | Report Abuse

One day show?? Hahahaha

Posted by trap666 > 2019-07-03 20:20 | Report Abuse

hehe..chance to get free from TRAPPPP ~~~~~

Posted by trap666 > 2019-07-03 20:21 | Report Abuse

OPSSS Inari acquireeeee...CABUTT

Posted by B4b4 > 2019-07-03 20:56 | Report Abuse

HUAWEI and DGSB partnership....... Solid as a ROCK

Posted by cendolpulut > 2019-07-03 21:11 | Report Abuse

wooww.. sara is coming back.. hahaha

Posted by mancingbursa > 2019-07-03 22:05 | Report Abuse

...
Finally
Thank Sara muak
Muak
Moak

Posted by INAR12 > 2019-07-03 23:01 | Report Abuse

Tomorrow up?

Posted by sengkee > 2019-07-03 23:23 | Report Abuse

Why went up? Because of The Edge article recently? Played those Insas related counters?

Posted by lurhays > 2019-07-03 23:52 | Report Abuse

she's success on first resistence 0.100, i think she rising to 0.125 for another resistence there.. if she past third resistence on 0.160 so up up she goes...

Posted by 10218296660755375 > 2019-07-04 06:55 | Report Abuse

rumors..
buy on rumors, sell on news :)

Posted by trap666 > 2019-07-04 08:32 | Report Abuse

mancing = sara = b4b4 = rx350 STOP acting you guys are the same people
DAMN stupid ~~~~

Posted by RX350 > 2019-07-04 08:48 | Report Abuse

trap666 hehe..chance to get free from TRAPPPP ~~~~~

DAMN STUPITTTTTTTTTTTTTTTTTT >.<

Posted by Gekko92 > 2019-07-04 08:49 | Report Abuse

Any news?or 1day show only?

Posted by RX350 > 2019-07-04 08:53 | Report Abuse

Trapps One day show?? Hahahaha

another stupit fellow from TRAP families still thinking DGSB pasang cables lol

Posted by RX350 > 2019-07-04 08:57 | Report Abuse

TRAP families can continue to bark here while we are looking at out profits growing in this counter