Another interesting Corporate Politics, someone is testing the water to see the exercising Warrants 49,000 even though it is OUT OF MONEY at current price RM1.03.
If Thong is careful, he will have enough Warrants to convert his INSAS WA to secure >50.01% ordinary shares from current 32.9%.
SSLee is expert to calculate THong’s true holdings via his friendly allies or proxies.
Thong will not do anything. He has already become rich my draining cash from insas and doing his own developments and business . For big development in bukit damansara he did with another partner. He has not interest in doing anything with insas when the board are muppets/puppets and he controls everything.
https://theedgemalaysia.com/node/709336 Not sure this is the first to change opinion on inari and others will follow or just someone low balling … definitely think insas should sell inari as enough profit . It could drop a lot …
Thong is so desperate not to look like the failed investor he is that he will never sell the inari stake. Even if it costs insas shareholders 1 billion ringgit he does not care. His ego is more important
Those invested in Insas should know better many of those holding: Omesti, Hohup and etc were legacy holding from M&A margin finance and Insas credit and leasing pledged shares securities that somehow end up in Insas.
So are you also a failed investor for investing in Insas?
Eight years ago when I first bought into Insas, it was hovering around 65 sen and Inari at that time around one ringgit. After 8 years Insas is today at 1.02 while Inari at 3.06.
In the past 8 years Inari gave bonus shares twice , a 1 for 1 bonus issue in 2017 and a 1 for 2 bonus issue in 2018. So 1 Inari shares 8 years ago, then trading at around one ringgit has become 3 shares at 3.06 today.
8 years ago Thong and PAC already held close to 33% in Insas and there has been no changes since. 8 years ago how much Inari did Thong personally held? How much does he still hold?
Insas % holding in Inari has been diluted due to ESOS and PP. Insas also sold some Inari to take profit and thus enable Insas to accumulate cash and bank deposit to the tune of over RM 1 billion.
Thong and Insas directors normally will exercise their ESOS and sold Inari share in open market to take profit. During the last inari AGM inari shareholders vote against allocation of ESOS to Thong.
What do you expect when you are running M&A securities and Insas credit and leasing?
Know what is direct business transaction? Against investing your excess cash into financial fair value assets or investing into short term money market?
If clients pledged shares securities for margin finance with M&A Securities or financing loan with Insas credit and leasing and if clients default who will end up holding the pledged shares?
@sslee so you now agree this was thing’s decision. And yes because he agreed to do this is why the whole situation has come about. This is your “somehow” . Previously you said lending money to the likes of microlink was good an no issue, what happens when like Hoh up, Omesti .. microlink also same . I was will end of with shares in another dead company that thing has sat on the board for over 10 years ..
If only you have run a business then you will know bad or good business deal is part and pacel of running a business, what more when you are running a stock broking, IPO, PP, M&A advisory, underwitter, placement agent and ah long lending business.
You make a very ignorant comment that I don’t own or have owned business to suit your argument. So now you agree the. That hohup, microlink and Omesti Dgsb all bad decisions . Not sure what is left in your point that you say thong is so good at investment . You keep changing your point 🤷
Yes and you seem to do well at it which is great. But I feel my point is still very valid. If thong had a boss he would have been fired for so many mistakes .
What do you think of Thong a good investor or bad investor for waiting patiently and timing his move when to use his holding in warrants to increase his and his PAC insas holding from 32.96% to more than 50% at lowest cost to him and his PAC?
The rm92 million thong is telling the insas board they have to approve for microlink is clouded on the fact thong has done a deal to get his son on the board and that other directors are putting thong at the centre of why microlink has gone from 90 cents to 30 cents. That is not a clean well thought out reason.
@sslee insas was 40 cents a share. Why not do it then ? I don’t think he ever will as he does not need to take nay money out of insas as a dividend as he takes cash out other ways and has already got plenty of money.
What's this debate about? That Thong hasn't done anything in the interest of the minority shareholders of Insas? Doesn't matter, at a certain entry price level Insas is a value buy, at other entry price level Insas would be a value trap.
If Thong buy any Insas share at 40 sen from open market and trigger the 33% MGO. The MGO will fail as the advisor will advise shareholders to reject the offer due to offer is unfair and unreasonable because the fair value of Insas is RM 4-6.
And for one year Thong will be forbided to trigger another MGO.
@MrSslee, exactly, Thong can't simply do a MGO, if he fails, he has to sit out a year. His end game could be to exercise all his warrants in February 2026. If Thong buys more warrants from the market he need not announce it as he is no longer director. So, if he slowly accumulates the warrants no one would be aware until they publish the next Annual Report.
If Insas share price continues to drift, the warrant price will follow and as time goes, the warrant premium will narrow. Thong can take his sweet time to grab the warrants.
Why bother ? He gets all the cash out now he wants , has a board that are lemming and do what they are told. This is why share price so bad and no one interested . 20 years been like this. Only way to profit from insas in buy on dip sell on high. Other than that it is useless and thong wants it that way
MAA Group Bhd's minority shareholders have rejected the group's proposed selective capital repayment (SCR) exercise of RM1. 10 per share at its annual general meeting today. This means that MAA will not be taken private at RM1. 10 per share.29 May 2019.
MAA shareholders should had taken the SCR offer then.
KUALA LUMPUR (April 26): Software company Microlink Solutions Bhd said on Friday that it has secured a contract worth RM56.45 million to implement and maintain a new core banking system for Bank Islam Brunei Darussalam Bhd.
Microlink’s unit Microlink System Sdn Bhd signed three agreements for software supply, service and maintenance for the project, the company said in an exchange filing. The project is expected to be implemented in one year, beginning April 24, 2024, Microlink said.
The project, which also comes with five years of maintenance and support, will contribute to revenue, earnings per share and net assets per share for the financial year ending March 31, 2025 (FY2025), Microlink added.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
5354_
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CEO is seller because coming QR not good because of Microln share plunge?