September 29, 2015 05:16 ET (09:16 GMT) GMT [Dow Jones] Malaysian construction company Ho Hup Construction (5169.KU) has won a 21.6 million contract from Sinopec Engineering Group (Malaysia) to perform the work of soil improvement under the Refinery and Petrochemical Integrated Development Project (RAPID). "We are neutral with the contract as it has already been imputed in our FY2015 order-book replenishment of 300 million ringgit ($68 million)," BIMB Securities says, while keeping its target price of 1.69 ringgit and buy call on the stock. "Though the value of the contract is much lower than expected, this is the group's maiden project in RAPID project which we believe will put Ho Hup in a competitive position for other future infrastructure and construction projects tendered," it notes. The stock is trading unchanged at 0.890 ringgit while the benchmark index is down 0.30%. (saurabh.chaturvedi@wsj.com; @journosaurabh)
Insas is a value buy as it stakes in Inari alone is worth more than its own market cap.. It's also have stakes in ho hup, syf , etc and buildings and other businesses Current price of 70 cents is nearly 1/3 of its current net assets of 1.90
Insas holds 197.5 million shares in inari which is worth x 3.41 = $672 million Currently insas market value is only $495 mil is lesser than its stake in Inari alone So u can do the math what's value it shld be for its other businesses , property , stock broking , rental, retail , investments in ho hup, syf, etc , It also have cash balance - not alot but its around $190 million - It recently raised money via preference shares ..so it also have some debt All in all, insas can do better by unlocking some value : I)do more share buy back 2)Distribute the buy back shares 3)increase dividend 4)continue to sell some insas shares to the funds from Norway etc 5)give away free warrants (insas and Inari warrants )
kk123, this calculation investor know alr since long time ago.... Why not u calculate Bjcorp asset, Bjcorp can easily more than RM2. Why Bjcorp price still below RM0.5?
Undervalue trap by big boy, they treat share like their piggy bank.
there must be a reason why they keep holding rather unlock the value. The BOD are just same like small fish like us, no one likes to lose money. The Inari is still growing...so why hurry to unlock?
This week focus magazine got an article on insas .. It says insas is trading way below its real value etc It can trade higher once it find ways to reward the shareholder via share buy back or dividend
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cheeseburger
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Posted by cheeseburger > 2015-09-28 23:10 | Report Abuse
insas is charging...