From my very personally experience, I seldom make big money from a Holding company even though the subsidiary or associated company has been the great performer .
net net working capital/share is 1.44. And that is based on BV of all its investments. If they realised their holdings of Inari is already worth more than RM1/share (net gain!), not to mention their other investments in Ho Hup, Omesti, SYF Resources, investment properties, unlisted securities etc etc
Sometimes, wb very weird. Mother up, wb down...sometime another way....very weird this stock. So last two yr I decided throw all and stand aside. I start monitoring since 0.94. Dare not move at all. Later trap Macam bjcorp at 0.40 level, cry also no use...
In quarter ended 30/9/16 Insas sold 16.5 million Inari shares for around RM3.30 each receiving total proceeds of around RM54 million, making huge gains because the original cost of investment was very low. As at today Insas holds 402,411,300 shares in Inari representing 20.7%o of the rital shares of Inari. How much is Inari shares today?
For the past year Inari share price kept moving up due to aggressive accumulation by EPF and KWAP but Insas didn't follow. Insas was jinxed in the year of the monkey.
I first bought at 94c then sold at 118c. Bought at 121c and stuck since. The WB gave me 40c back and lower average holding cost around 101c. I dont really care anymore since there's little bit of divvy from mothershare and RI every now and then. I probably breakeven soon. Since I hold it for so long, I dont really look forward to sell them anymore. Probably will think when it reach RM2.
One thing though, Insas has pare down its Inari holdings slowly but money nowhere to be seen. This may be something to look out for.
The last time Insas sold some Inari shares was in September last year. No sale since. Those people who had bought Insas at high price should have averaged down last year when it was trading below 70 sen. It was too cheap to ignore then.
I remember someone says Insas will buy back at around 0.8x, can explain why 0.8x and not 0.6x or 0.7x? Now is the support level if start buy back? max of only 10% per year? I thought any value below Rm1 is advantagious for share cancellation? Please share for huat together.
I have been saying the directors don't do anything to enhance the market price. Give only miserable 1 sen dividend. Imagine if they had declared 5 sen interim dividend which they could since last quarter earnings was 8 sen per share.
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VenFx
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Posted by VenFx > 2017-02-02 20:35 | Report Abuse
From my very personally experience, I seldom make big money from a Holding company even though the subsidiary or associated company has been the great performer .