Posted by imoogi99 > 2015-03-03 09:35 | Report Abuse

Oops.....insas-pa no more 80 sen lor. Guess all realize the benefit and sapu habis.

Posted by king555 > 2015-03-03 09:37 | Report Abuse

this is suitable for those who wan to play safe and slowly return. The only risk is Insas will be going to bankrupt this five years?

Posted by murali > 2015-03-03 09:37 | Report Abuse

Basing on my cost of RM12,300(RM10,000+RM2,300), I sold my 10,000 PA at RM0.82 & 20,000 WB at Rm0.27= RMRM13,600. Profit is ard RM1,300 or abt 11% in 3 weeks'time....Not bad

Posted by truthseeker1 > 2015-03-03 09:37 | Report Abuse

Insas EPS 1.02sen. Is it cheap at 85sen? Why are there people chasing WB at 50% premium?
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1890289

Posted by GweiKi > 2015-03-03 09:41 | Report Abuse

All the WB money can put into PA and then wait for 5 years, you sure pocket money lah.... ha ha ha huii!!! huii!!! huii!!!

Posted by murali > 2015-03-03 09:42 | Report Abuse

EPS 1.02 cent is for last Q,SO far FH is ard 4.59 cents, if annualised will be ard 9 cents...PE is ard 9+

Posted by Kris Wong > 2015-03-03 09:58 | Report Abuse

Mr. KC Chong, based on your calculation and details, does this mean that the Insas-pa I just now bought at RM0.80 will give me a return of 6.42% pa if hold it to maturity based on my simplified calculation ie. 0.935/0.80 multiply by 5.5% = 6.42%. Please advise me accordingly if my calculation is not correct. TQ

Posted by r°Moi > 2015-03-03 10:00 | Report Abuse

Those who came in for a quicky during past 2 weeks would have made money

Those who bought OR would have made money

Those who bought on cum basis at around 0.90 would maybe breakeven

Anyone else who have not got a lot of excess would hold on for a day or two... till total hopelessness set in and will sell with a vengeance

Last hope not going anywhere anytime soon.... Thong has created tons of stale bulls

Posted by r°Moi > 2015-03-03 10:03 | Report Abuse

Mother at 0.8+ Premium for the W at around 50%... you are buying the W now because.......

Posted by imoogi99 > 2015-03-03 10:17 | Report Abuse

....because r°Moi not buying.....lol! 84sen for PA....still waiting?????

Posted by GweiKi > 2015-03-03 10:17 | Report Abuse

Sell all WB, use the money buy INSAS & INSAS-PA, you will sure huat huat huat like me lah... ha ha ha huii!! huii!! huii!!

Posted by imoogi99 > 2015-03-03 10:21 | Report Abuse

Cunning syndicate to push mother down to collect PA....see mother up now....likewise PA.

GweiKi also cunning...sell all WB to him...shouldnt be selling mother to buy son or PA which has more potential??????

Posted by Johnnys > 2015-03-03 10:24 | Report Abuse

PA cost RM 1, free 2 warrant,
PA current price RM 0.83 (-0.17), warrant price RM 0.265 x 2 RM 0.53
0.83 + 0.53 = 1.36

wow earn 36% already hahaha

Posted by Andre Kua > 2015-03-03 10:41 | Report Abuse

I only get extra 1 lot excess for a total of 5 lots. I thought they would give me 6lots and beautify it to 10 lots with 20lots WB. Wasting my MO money...

Posted by king555 > 2015-03-03 11:03 | Report Abuse

if buy at 0.80..now already 5% earn

Posted by king555 > 2015-03-03 11:04 | Report Abuse

quick profit and safe

Posted by king555 > 2015-03-03 11:49 | Report Abuse

Johnnys, u dont need to calculate ur PR cost meh

Posted by gweilo > 2015-03-03 12:37 | Report Abuse

actually is 4 sen a year x 5 or 20 sen + 20 sen capital gain for a return of 40 sen on an 80 sen investment over 5 years or 10% a year !

Posted by Johnnys > 2015-03-03 12:41 | Report Abuse

king555 I no buy PR from market, so is free.

Posted by imoogi99 > 2015-03-03 12:46 | Report Abuse

gweilo, some dont see the point there and therefore does not show any interest.

Posted by gweilo > 2015-03-03 13:03 | Report Abuse

so weird. remember all those who bitch about low insas dividend of 1 sen. Well now they can get 8 sen a year and guaranteed rm1 back at end of 5 years so what do they do ? more bitching ! no pleasing some people, where else can you get 10% guaranteed return on anything for 5 years?

Posted by hsteoh56 > 2015-03-03 13:11 | Report Abuse

can i convert the PA to rm1.00 from now on if i write in with some admin. fees???????

Posted by gweilo > 2015-03-03 13:27 | Report Abuse

no. you can not convert to cash. if you could it would be RM1 already ! you have 3 choices:

1. use the PA to convert a warrant to a mother share.
2. sell the PA in the open market.
3. hold the PA for 5 years and get 5 % a year dividend + 25% gain at the end of the 5 years (assumes you bought it in open market at 80 sen.

The PA at 80 sen is a SCREAMING BUY ! I can't see it staying here for long cause its just too DUMB !

Posted by Munger > 2015-03-03 13:35 | Report Abuse

Buying PA at current price is no brainer

Posted by walau2u > 2015-03-03 13:58 | Report Abuse

Buying PA at RM0.8 is super buy..why no brainer? wat ur rationale Munger?

Posted by Tey Tian Foo > 2015-03-03 14:59 | Report Abuse

PA is very safe with guarantee div 4s per year. Cheap !!

Posted by imoogi99 > 2015-03-03 15:05 | Report Abuse

Wait till the upper limit of the WA being raised and fireworks will starts.

Posted by ashley88 > 2015-03-03 15:19 | Report Abuse

If warrant price at RM0.26 and need to pay RM1.00 to convert it to mother share,so total cost is RM1.26 .Why not buy mother share from market, it's only RM0.86!

Posted by kcchongnz > 2015-03-03 15:42 | Report Abuse

Posted by ashley88 > Mar 3, 2015 03:19 PM | Report Abuse

If warrant price at RM0.26 and need to pay RM1.00 to convert it to mother share,so total cost is RM1.26 .Why not buy mother share from market, it's only RM0.86!


Warrants have two parts of value; intrinsic value and time value.

Intrinsic value of Insas warrant is zero, kosong as the exercise price is higher than the mother share price, IV = Max (0, S-x)

What Insas warrant has is its time value which can be a lot depending on how volatile is the underlying share price in the future. If the mother share is volatile and can fluctuate up to say Rm1.50, Insas intrinsic value will be 50 sen, Max (0, 1.50-1.00). And Insas has 5 year to do that for warrant to have that IV.

What if gila gila Insas share price can go up to its net asset backing of RM1.82?

Is that really gila at that price at RM1.82 as Insas assets are mostly cash or cash equivalent and investment which if marked to market, will be a lot more higher than RM1.82?

And warrant has 5 long years to wait for that to happen.

Posted by imoogi99 > 2015-03-03 15:47 | Report Abuse

...if Insas jadi gila gila and goes to RM1.82, we investor of Insas will gila-gila go to the bank and bank in the money.

Posted by ashley88 > 2015-03-03 15:51 | Report Abuse

kcchongnz, thank you for the explanation.

Posted by Tey Tian Foo > 2015-03-03 16:02 | Report Abuse

The other part on warrant is the gearing. One Insas cost you can buy over 3W. If Insas price does surge, which is highly possible. The gearing on W would give you better % return.

Posted by Ken Lim > 2015-03-03 16:32 | Report Abuse

Hope Ah thong director won't bring investors to Holland .. Money on hand with wb n Pa ..successful with list all related shares of insas .but until today insas stock price is not perform .Pray for it like Mh 370 ..

Posted by Jien Han > 2015-03-03 16:38 | Report Abuse

revenue up but operating costs up. why the extra costs? expansion?

Posted by oregami > 2015-03-03 18:43 | Report Abuse

I sold all warrants. At 50 % premium there's no reason not to take profit. The probability of 'gila2' comes is very low according to Insas historical share price. When ppl notice warrant premium too high they might sell down warrant & switch to mom.

Posted by goldman_trader > 2015-03-03 20:37 | Report Abuse

Heard Insas is getting attention of some big institution buyers
Party coming soon

Posted by imoogi99 > 2015-03-03 20:48 | Report Abuse

Heard that too in 1990s when Insas was at 3.50.

Posted by StockKeeper > 2015-03-03 21:17 | Report Abuse

big institution buyer is who? any source?

Posted by born2bking > 2015-03-03 21:36 | Report Abuse

basically those u subscribe eat shit la!

Posted by oregami > 2015-03-04 08:36 | Report Abuse

Not really. I feel lucky bcoz i subscribed. The sale of warrant has reimbursed my paper loss in mother share.

Posted by Friendship > 2015-03-04 09:38 | Report Abuse

8% per annum guaranteed for the next 5 years! What a great investment opportunity!!!

Posted by Johnnys > 2015-03-04 12:19 | Report Abuse

just wait and see

Posted by gweilo > 2015-03-04 13:11 | Report Abuse

It's 10% not 8% per annum if you buy the PA at 80 sen!

Posted by NOBY > 2015-03-04 13:30 | Report Abuse

The coupon payment is 2 sen per 6 months, 4 sen per year. How you get 10% p.a. ??

Posted by gweilo > 2015-03-04 13:36 | Report Abuse

You buy at 80 sen get 20 sen dividend over 5 years + 20 sen cap gain or 40 sen income over 5 years. 40 sen gain is 50% of 80 sen price paid or 10% per years. Look at it another way cost is 80 sen and after 5 years total collected is RM1.2 or 40 sen. 10% of 80 (cost) is 8 sen x 5 years is 40 sen. i.e. 10% a year. But this is ONLY if you buy PA in open market at 80 sen of course.

Posted by gweilo > 2015-03-04 13:39 | Report Abuse

ok maybe make it more simple for simpletons. you buy at 80 you get 4 sen a year dividend + 4 sen a year cap gain (20/5yr). That's 8 sen a year. 8 sen a year is 10% of 80 hence 10%. Of course you dun collect the 4 sen a year until you redeem after 5 years. IT's still 10% a year no matter how you slice it.

Posted by NOBY > 2015-03-04 13:49 | Report Abuse

ok... i guess you are correct if you calculate that way. but that 10% a year is not annualized returns, its more of the average return per year. I think below is more accurate way. Either way its still a good low risk investment.

Blog: Valuation of Insas Preference Share and Warrant kcchongnz
Mar 3, 2015 01:37 PM | Report Abuse

Posted by Kris Wong > Mar 3, 2015 10:28 AM | Report Abuse

Mr. KC Chong based on your calculation and details, does this mean that the bond-like Insas-Pa I bought at RM0.80 this morning will give me a return of 6.42% pa if I hold it to maturity based on my simplified calculation ie. 0.935/0.80 multiply by 5.5% =6.42%. Please advise me if my calculation is not correct. TQ

Use a financial calculator, or a spreadsheet and put these values:

PV = 0.8
FV = 1.00
PMT = 0.02 for 2 sen dividend every 6 months
N = 10 There are 10 semi-annual payments

You will find that the yield-to-maturity equals to 4.53% per period, or 9.06% for a full year. That is the return you are concern of.

With RPS at 82 sen now, the yield to maturity will be 8.5%. It is still a decent return considering that it has little risk but twice return from FD.

Posted by gweilo > 2015-03-04 14:27 | Report Abuse

You're right. At a purchase price of 80 sen if held to maturity It's 5% annualized for the first 4 years and then 30% annualized for the 5th year.

Posted by Friendship > 2015-03-04 14:30 | Report Abuse

Insas-PA is a bargain as long as the price is below 0.93!

Posted by gweilo > 2015-03-04 14:41 | Report Abuse

yeah hard to grasp. people here bitch n bitch about low insas dividend so insas now give them opportunity to get best dividend anywhere and what do they do ? they bitch ! ?????????????