Posted by notebook > 2014-07-25 22:49 | Report Abuse

if the rps is convertible , the share will rocket launch
the problem is not convertible

Posted by gweilo > 2014-07-25 22:56 | Report Abuse

Warrants are free but price will be quote at least 25 sen when listed because the strike price is RM1 and the share price is 1.25RM. So the 2 warrants you get if you sell them at 25 sen are worth 50 sen (at least) in your pocket on day one. But you also get 1 RPS with a 4% dividend that will return you RM1 at maturity or earlier that you paid only 50 sen for (RM1 less the 50 sen you got back for free for selling the 2 warrants).

But if the warrants sell at a premium of say 50 sen instead of 25 sen than if you sell them at that price your rps are then FREE. You will be getting 4% on a FREE investment ! How good is that manz !!!

I hope this is clear enough cause it is a bit complicated but easy to grasp with a basic understanding of warrants and how they work,

Posted by Bs1688 > 2014-07-25 22:59 | Report Abuse

Gweilo , tq for yr explanation , this is indeed great news for Insas holders.

Posted by lazycat > 2014-07-25 23:02 | Report Abuse

how much will the mother share price adjust after right issue ex-date?

Posted by ccs999 > 2014-07-25 23:03 | Report Abuse

thank you bro gweilo! I think they don't said the RPS last for how long right? any comments? tq

Posted by gweilo > 2014-07-25 23:04 | Report Abuse

notebook: even if rps is not convertible you will get back a guaranteed rm1 at maturity and if you sell the warrants to pay for half of the purchase the rps will cost you only 50 sen and yield a dividend of EIGHT percent on your outlay ! Where are you going to get that kind of dividend yield!

Everybody bitching here about Insas dividen and now you have a chance to get EIGHT percent !!

BITCH NO MORE !!!

Posted by gweilo > 2014-07-25 23:08 | Report Abuse

lazycat: we do not know but i expect it to rise in advance and perhaps drop a bit after.
ccs999: yes. this is not stated that i saw. but i don;t care as i will take 8% (assuming i sell the warrants to pay for half the RPS) as long as i can get it !

Posted by kfui > 2014-07-25 23:11 | Report Abuse

@ccs
RPS has 5 years tenure. Insas has the right to redeem anytime within 5 years by giving at least 7 days notice.

Posted by kfui > 2014-07-25 23:14 | Report Abuse

my perception is mother price wont be adjusted upon ex-right date since it is not an equity instruments (RPS is not convertible, but just like a debt).

Just my guess. Can anyone confirm? for those who had counters with free bonus warrants, like xinquan.

Posted by ccs999 > 2014-07-25 23:15 | Report Abuse

okok thank you gweilo and kfui
so when they redeem we at least will get back rm1k? am i right?

Posted by gweilo > 2014-07-25 23:16 | Report Abuse

I also think the RPS will sell at a premium to RM1 with a market price guaranteed dividend of 4% which is higher than bank non-guaranteed interest at he moment so you may just be able to sell the rps early and make an even bigger immediate profit if you don't want collect the 8% dividend over time.

I simply can see nothing but GOOD coming from this for insas shareholders.

Posted by gweilo > 2014-07-25 23:18 | Report Abuse

ccs999: yes at least rm1 but more if you sell at the market beforehand should the price be higher.

Posted by kfui > 2014-07-25 23:19 | Report Abuse

yes, insas has to redeem RPS at issue price RM1.00

Posted by erica > 2014-07-25 23:22 | Report Abuse

So means that RPS share also can trade at open market??

Posted by kfui > 2014-07-25 23:24 | Report Abuse

Without the conversion feature attached to RPS, I believe the market price of RPS may be adjusted to the region RM0.90 so as to have effective yield of 4% to 5%, to reflect market interest rate of a corp bond.

Posted by gweilo > 2014-07-25 23:24 | Report Abuse

kful: Yes and that means an 8% dividend on the 50 sen price of the RPS if you pay for half of the RM1 cost with a 50 sen free profit from the warrants sold at 25 sen which is the minimum price they will ever sell at unless the insas main share price drops well below rm 1.25.

Posted by kfui > 2014-07-25 23:25 | Report Abuse

Erica
yes,
per announcement

Listing : The RPS will be listed on the Main Market of Bursa Securities.

Posted by kfui > 2014-07-25 23:27 | Report Abuse

thanks gweilo
now I can see the point.

Posted by Walao Walao Eh > 2014-07-25 23:28 | Report Abuse

is mean the rps can sell like insas at market?

Posted by kfui > 2014-07-25 23:30 | Report Abuse

@walao
yes
Listing : The RPS will be listed on the Main Market of Bursa Securities.

Posted by estan3874 > 2014-07-25 23:50 | Report Abuse

Is that possible that, they pump in the money to M&A then the director can use it as margin to subscribe Inari Right? For the 60M? And another 30M subscription through Insas?

Posted by notebook > 2014-07-26 00:07 | Report Abuse

i think thong want to buy more stake in hohup and inari

Posted by imoogi99 > 2014-07-26 01:28 | Report Abuse

Another thing to note is the RPS may be surrendered by the Warrant holders at 100% of the issue price of the RPS for the exercise of the Warrants in lieu of the exercise price of RM1.00 per Warrant. So the flexibility is there and if Insas share price still stays above 1.25, then RPS will be RM1.00. If there's a discount in RPS price, people will buy RPS and warrant to convert to mother.

Posted by posby > 2014-07-26 07:54 | Report Abuse

Check it out.. Dato thong... Increase his shareholding stake before the right issue.....so his control of this company getting wider...

Posted by leno > 2014-07-26 08:10 | Report Abuse

HAHAHAHAHAHAHAHAHAHAHAHAHAHAH .... HAHAHAHAHAHAHAHAHAHAHAHAHAH ..... HAHAHAHAHAHAHAHAHAHAH HAHAHAHAHAH HAHAHAHAHAHHA WAHAHAHAHAHAHAHHA MUAHAHAHAHAHAHHA GAGAGAA LALALALALALALALALLALALA MAMAMAMAM MIAAAAAA !!!!

Posted by newbie91 > 2014-07-26 08:13 | Report Abuse

all insas holder so happy....

Posted by vinc3362 > 2014-07-26 08:25 | Report Abuse

Not all Insas holder happy. Unhappy ones are keeping quiet.

I am one of the unhappy holders.

Posted by newbie91 > 2014-07-26 08:27 | Report Abuse

why??

Posted by leno > 2014-07-26 08:30 | Report Abuse

because he bought too little .... hahahahahahah ... right right ? HAHAHAHAHAHAH HAHAHAHAHAHAHAH

Posted by vinc3362 > 2014-07-26 08:32 | Report Abuse

Good one Leno......hahahahahah...

Unfortunately that is not the reason.

Posted by leno > 2014-07-26 08:47 | Report Abuse

he sell 99% of his insas too soon ... now left with ciput share .... i am right again right ?

Posted by tjhldog > 2014-07-26 08:55 | Report Abuse

Errrrr

Posted by kwl8888 > 2014-07-26 08:58 | Report Abuse

RPS can't convert to ordinary shares, so I might opt to buy warrant from open market when listing later.
Currently I don't hold any Insas.

Posted by vinc3362 > 2014-07-26 09:02 | Report Abuse

If I have dispose of so early, I would be smiling from ear to ear lah,
because the funds would have been used to accumulate Mulpha.

Anyway, all such PRS or bonus issues are just financial engineering. Does it add value to us minority shareholders?

Will give my personal views next Thursday, if you are still interested.

Posted by rosetan > 2014-07-26 09:08 | Report Abuse

RPS and free warrants are definitely good for Insas holders.

Posted by Yk John > 2014-07-26 09:09 | Report Abuse

So can up tmrrw???

Posted by Yk John > 2014-07-26 09:11 | Report Abuse

Target price next week???

Can hit 1.50?

Posted by steady > 2014-07-26 09:18 | Report Abuse

limit up?

Posted by kwl8888 > 2014-07-26 09:19 | Report Abuse

I don't think will limit up, Insas not sell Starbuck coffee :)

Posted by Yk John > 2014-07-26 09:47 | Report Abuse

Is this really good news???

Can up to 1.50 next week???

Posted by sunshine88 > 2014-07-26 10:13 | Report Abuse

1.50 banyak susahlah

Posted by sunshine88 > 2014-07-26 10:15 | Report Abuse

I
total agree with vinc3362

Posted by kuchingnan > 2014-07-26 10:41 | Report Abuse

HELO ALL SIFU HERE, WHAT DO IT MEANS???

Posted by posby > 2014-07-26 12:36 | Report Abuse

Break 1.36 only discuss... haha... no resistant after that...

Posted by leno > 2014-07-26 13:23 | Report Abuse

HAHAHAHAHAHAHAHAH ..... pay RM 1 and get 1 RPS 4% p.a. + 2 FREE WARRANT with x-price RM 1 .... HAHAHAHAHAHAHAHAHAHAH somemore insas intrinsic value worth more than RM 2 .... WOW !! HAHAHAHAHAHAHAHAH .... king insas leno the most panlai investor has been laughing NON-STOP since the announcement .... HAHAHHAHAHAHAHAHAHAHAH HAHAHAHAHAAAHAHAH ... TIMA KACIH PETER LYNCH ! TIMA KACIH BENJAMIN GRAHAM ! TIMA KACIH to ALL THE VALUE SUPER-INVESTOR !! TIMA KACIH ! TIMA KACIH !!! HAHAHAHAHAHAHAH !!!!!

Posted by gweilo > 2014-07-26 13:50 | Report Abuse

I expect Insas to strengthen on this news but not too much because thge approvals are not in place and it will not happen for months. Once it is approved and a done deal I then expect a bigger bigger move up. I would be a buyer here for sure.

Posted by anthonylow > 2014-07-26 16:15 | Report Abuse

优先股是银行股估值爆发的必杀技。“如果优先股出来，银行就不用从二级市场再抽血，同时又给保险等长期资金提供很好的投资机会，提升股市对长线资金吸引，还有把全社会的风险降低，金融危机风险减小。来个学术，降低全市场风险溢价，降低贴现率，提升估值！”分析师激动的说。众所周知，市场对银行股给予了很低的估值，一方面，人们都认为银行很赚钱；另一方面，人们都不愿意买银行股。为什么会出现这种现象呢？是因为人们尽管知道银行赚钱，但是总是对目前银行的资产健康状况感到担忧，比方说工行，今年上半年是赚了一千多亿的利润，但是它的资产接近20万亿。对资产的担忧使人们无视了银行的利润，毕竟，只要1%的资产出问题，利润就没了。而优先股的发力，能够大大减少人们对银行资产的焦虑情绪。优先股有四大优势，而这四大优势又正好是为银行量身订制的：（1）财务负担轻。由于优先股票股利不是发行公司必须偿付的一项法定债务，如果公司财务状况恶化时，这种股利可以不付，从而减轻了企业的财务负担。（2）财务上灵活机动。由于优先股票没有规定最终到期日，它实质上是一种永续性借款。优先股票的收回由企业决定，企业可在有利条件下收回优先股票，具有较大的灵活性。（3）财务风险小。由于从债权人的角度看，优先股属于公司股本，从而巩固了公司的财务状况，提高了公司的举债能力，因此，财务风险小。（4）不减少普通股票收益和控制权。与普通股票相比，优先股票每股收益是固定的，只要企业净资产收益率高于优先股票成本率，普通股票每股收益就会上升；另外，优先股票无表决权，因此，不影响普通股股东对企业的控制权。有了优先股，普通股的负担减轻了，银行不用老打股东的主意进行配股，资本金也能得到进一步的充实，因此，银行股就开始修复估值了。毕竟，银行面临的最主要的问题不是不赚钱，而是内心的一种焦虑。

Posted by johnte > 2014-07-26 19:52 | Report Abuse

insas very attractive now, next trading day limit up. ^^

Posted by lazycat > 2014-07-26 20:03 | Report Abuse

non-convertible rps not very attractive, but the 2 free warrant that attach with it, is.

Posted by Yk John > 2014-07-26 20:51 | Report Abuse

Limit up?????