Posted by linges > 2017-06-16 17:33 | Report Abuse

Skliew..Hope sama2 make round of good money..:))
I'm talking hold dumb dumb but in reality its difficult to control profit taking instinct..he he

Posted by Skliew > 2017-06-16 18:12 | Report Abuse

Paperplane,

After building Inari from a smallish company to the biggest semiconductor company listed in Bursa with a market capitalisation of more than RM4 Billion, Insas of today is very different from yesteryear!

Insas has already cashed out more than 10% share holdings in Inari in the past 2-3 years and still holding about 20% of slightly more than 400 million shares in Inari....that's why insas is cash rich today...

Investment portfolio in securities now is about rm350 millions; cash in hand is about rm525 million...

Total current asset alone less ALL liabilities net off is RM1.186 per share which is higher than the current share price....

This has not taken in the non current assets of RM744 millions which includes RM298 millions investment in associated companies such as the abovementioned 20% in INARI and some others listed companies, hohup, SYF, OMESTI, and other non listed associate companies...

Each 1000 shares of INSAS indirectly holds 607 shares in INARI... take Inari @RM2 is already worth more than RM1,200 for every 1000 share of insas...

In the old old days.... INSAS was a small property and securities company......Its shares was very very difficult to trade and investors always lost money in it or get caught....That image or investor phobia still lingers on...haha!

The past 5 years' financial results of Insas has been good and is actually fantastic!

Paperplane, I belong to the old camp and also quite fearful of this counter in the past.... but I found that it's fundamentals are already so good....so, as I started to invest in it from the 2Q 16, I made quite some money each time I entered and hold....

Haha! The old impressions of this company is still with me and I also did not have full confidence at times, so I didn't sit tight with it but bought and sold...this actually made my returns less ...haha!

What make you think that thoss of us who are bullish on the stock, are in a denial mode?

I am very keen to listen to you as you are a respectable forumer in i3...please commend and don't forget about the financials as I quoted above...

Thank you....

Posted by TheContrarian > 2017-06-16 18:49 | Report Abuse

Skliew, save your breath. Some people doesn't need convincing. Anyway since you have laid out the details, new investors will understand more of Insas.

Posted by Toto2009 > 2017-06-16 18:51 | Report Abuse

Very informative Skliew, we need more positive forumer like you and definitely our Insas leader Leno!!!!

Posted by Toto2009 > 2017-06-16 18:53 | Report Abuse

Playing in warrant can really have good gearing but the risk also went higher... dilemma now if to buy in some Insas WB, I'm having mother shares now at 0.95

Posted by paperplane2016 > 2017-06-16 19:21 | Report Abuse

Warrant in 40% premiums. You think logic ah. Either warrant is wrong or mother is wrong. How? Trap?

Posted by paperplane2016 > 2017-06-16 19:22 | Report Abuse

I know insas more than you.

Posted by paperplane2016 > 2017-06-16 19:24 | Report Abuse

If the cash is so huge. Why thong is holding it? Cash is lowest return assets. Why ah , why ah.
Special div give me can ah. Why hold cash? Just to spend on some other useless things again? Support his own sons luxury spending toy business?

Posted by Toto2009 > 2017-06-16 19:56 | Report Abuse

Paper plane, for sure ur comment are going to be -ve towards Insas. Of course I have study about the premium of WB and now only considering. Since you know Insas so much, then do you mind to share how much shares you holding and at what price? And how will Insas price next Monday?

Posted by mjlee > 2017-06-16 20:07 | Report Abuse

can buy more?

Posted by Toto2009 > 2017-06-16 20:11 | Report Abuse

Mjlee, today is correction in placed, FA and TA still intact and strong, my TP is 1.2-1.25, trade at your own risk ; )

Posted by jenson1026 > 2017-06-16 20:24 | Report Abuse

i bought it some insas warrants at 0.505. I expected it will be going toward 0.60 and above when its mother share prices reached my target price of 1.20 and above.

Posted by Skliew > 2017-06-16 20:39 | Report Abuse

Paperplane,

Definitely you know something which we don't know. As a respectable forumer in i3, you surely can share your precious knowledge and experience with us. That's why I humbly request you to enlighten us of your thoughts and please elaborate where necessary...Thanks.

Posted by Toto2009 > 2017-06-16 20:48 | Report Abuse

Thanks for Jenson1026 good sharing and thought, make sense and logical

Posted by Skliew > 2017-06-16 20:59 | Report Abuse

As at 310317, cash and bank deposits RM 528 millions. Total borrowings RM287millions. Net cash less borrowings is RM241 millions... plus RM352 million investment in financial assets...

told during last AGM, sparing the cash for Tesla business....

Posted by Skliew > 2017-06-16 21:06 | Report Abuse

There are some doubts and concerns to the investment fraternity otherwise it would not have such steep discounts in the valuation of the shares.

On the other hand, no such concerns on INARI since many funds invested in it and it is also controlled by Thong and almost the same board as that of Insas....

Posted by Skliew > 2017-06-16 21:10 | Report Abuse

But are the concerns and the steep discounts justified since INARI is doing fine and funds invested in it. Aren't the boards of insas and Inari the same?

Posted by 3101575000 > 2017-06-16 21:11 | Report Abuse

TKVM for the comment wrote from Skliew & TheContrarian .
This is the lst time I hold a stock with full confidence.
I used to be : in out in out for every stock I invest, thus made not much.
Hopefully this time I can make big profit .Ha ha.

Posted by TheContrarian > 2017-06-16 21:45 | Report Abuse

Skliew and I have been trying to explain how undervalued Insas was and still is with the hope that people who bought cheaply do not sell in a hurry for small gain.

Posted by 3101575000 > 2017-06-16 22:05 | Report Abuse

TQ ha ha : I still hold tight.
Cheers hope we in the same boat can enlighten each other
INSAS WILL MAKE OUR DREAM COME TRUE : BIG BIG PROFIT

Posted by kevin5059 > 2017-06-16 22:06 | Report Abuse

Guys, 40% premium may seem a bit high. Believe me, when Insas was sitting at 0.60x and WB at 0.17, can you calculate what's the premium there? It means you need to add RM1+1xWB to exhange for a mother share that priced at 0.6x at that moment. My dad bought the Mother and I bought the WB. Today, it just proved that I received more than +250% paper gain and my dad only achieve 90%++.

Yes, the premium may seem a bit expensive now, but remember the Insas share is EXTREMELY undervalue. I strongly believe that it will goes beyond RM 1.80+. At RM 1.80, the WB should be ranged around RM 1.40 to RM 1.20. Today, the WB priced at 0.50sen. Still plenty of room to swing. Of course the price will be up and down from time to time. No counter will go up everyday forever. After each correction, it will just go higher and higher. Judge for yourself.

Posted by TheContrarian > 2017-06-16 22:20 | Report Abuse

Yes Kevin, this was exactly the reason I switched to accumulating the warrants instead of the mother shares. Furthermore I also realized that Thong couldn't buy a single Insas share without having to trigger an MGO. Thong holds a big warrants position for defensive purpose against any hostile takeover and he could add on more warrants without having to make any public announcement to Bursa but he definitely couldn't add on more shares officially.

Posted by sohaitrader > 2017-06-16 22:42 | Report Abuse

kevin ur mathematic failed .. my cost is 18 cent but now paper gains highest is 190% ,if ur cost is 17cent then highest will be 206% only .. where got 250% .. pls show me ur cost .. i will show u all my warrant cost . let u all know i am d one truely invest when insas warrant is at 18 cent

Posted by paperplane2016 > 2017-06-16 22:53 | Report Abuse

Why ah, why no fund mgr buy one? Why ah? Fund manager stupid visit

Posted by Apollo Ang > 2017-06-16 22:55 | Report Abuse

dato thong spread news to MNA securities retailers to buy lo, many from there holding this stock

Posted by sohaitrader > 2017-06-16 22:57 | Report Abuse

https://klse.i3investor.com/blogs/sohaitrader/125499.jsp

i had show u all my avg cost is about 0.183 , and i here to challenge Paperplane .. pls show us ur holding on insas wb .. dont talk cock .you are one of d member in rainmaker facebook closed group. if u no dare to show us pls get out here dont kaka cau cau sibeh dulan u betul sohai

Posted by TheContrarian > 2017-06-16 23:03 | Report Abuse

Among Insas' top 30 shareholders are CBNY Emerging Market Core Equity Portfolio Fund, CBNY Dimensional Emerging Markets Value Fund, CBNY Emerging Markets Small Cap Fund. There's also Credit Suisse and Bank of New York Mellon.

Posted by TheContrarian > 2017-06-16 23:12 | Report Abuse

Apollo, so nice of Thong to tip off his stockbrokering clients.

Posted by Apollo Ang > 2017-06-16 23:56 | Report Abuse

nope he tell the remisiers to spread the news,many bought n stuck at over 1.20 2 years ago and so is ho hup,they wanna give me placement at least 200k and above at 1.25 at that time when it was trading at 1.35, I told them thank you for asking but I won't be buying ho hup at 1.25

Posted by Apollo Ang > 2017-06-16 23:57 | Report Abuse

I of my fren took up ho hup placement kena kaw kaw, 500k at 1.25 keep until now.....haha

Posted by Apollo Ang > 2017-06-16 23:59 | Report Abuse

all good one they keep for themselves,like inari

Posted by latlut > 2017-06-17 00:02 | Report Abuse

so. did Thong ask the remisiers to spread the news to buy insas lately?

Posted by Apollo Ang > 2017-06-17 00:05 | Report Abuse

dunno,didn't call and pay them a visit,geram wif them cos no reserve a few ipo placements for me since MNA being underwriters on a few counters

Posted by TheContrarian > 2017-06-17 07:59 | Report Abuse

Must have been in year 2014. After that the crash in oil price caused KLSE to tumble and then the 1MDB scandal.

Posted by Skliew > 2017-06-17 09:44 | Report Abuse

Insas also bought more than 10 millions Hohup shares around 1.30 in 2014-2015 though it also had tranches at much lower costs...

When market price was @1.35 and private placement @1.25 for 400K shares was not bad a deal....

Posted by Skliew > 2017-06-17 10:39 | Report Abuse

Contrarian

Now not that many fund managers in the top 30 largest shareholders list as of the last annual report. This actually rendered investment values at exceptionally low prices.. this also happened KESM, its share price has already shot up to RM15 from about RM2 in the last 2 years...

Before 2015/2016, fund managers or IBs were not interested investing or covering KESM even though many a time, its net cash per share was higher than its market price, PE in the low single digit.... many reasons were given....citing consistent low DIVIDEND payment of 3 sen per annum... low liquidity, can't get in and get out easily....there were better alternatives like mpi, unisem, glotronics....KESM share price was hovering around RM2+....for a long long time despite good earnings.....

But now an IB is covering and with KESM's improving profits, many fund managers and retailers have invested in the stock and the share price surged to sky high of RM15 as a result, the IB had recently raised its TP from RM16 to RM21...:)

Haha! at the end of the day, when the company continue to show good profits and share price keep moving higher, many, including IBs, fund managers, retailers,etc etc... Will jump on the bandwagon....

Have a good weekend...:)

Posted by VenFx > 2017-06-17 10:56 | Report Abuse

IB always the Sector come first. ..
The sector of which Kesm are in has a robustly growth rate compared to others.

I like the way Skliew view in Insas.
Holding investment will have it's interest back given tbe revolutionary of a country economic and coming election given their diverse segment which can tap on country's economic plan.

Posted by TheContrarian > 2017-06-17 11:33 | Report Abuse

IBs have been calling for buy on Insas after release of QR with target price of RM1.22.

Posted by Skliew > 2017-06-17 12:10 | Report Abuse

Contrarian,
can you please get the IB report and post it here for the info of all?

Thanks. :)

Posted by TheContrarian > 2017-06-17 12:32 | Report Abuse

Just click the "headlines" button on top and there's KayHianUOB report with target price of 1.22.

Posted by Skliew > 2017-06-17 13:09 | Report Abuse

Contrarian

Thanks. But it is a technical buy call. So far, no IB initiate coverage on the stock....

RHBIB also has a technical buy call on 26th of may. TP are 1.23 and 1.34

http://www.theedgemarkets.com/article/insas-may-trend-higher-says-rhb-retail-research

Posted by TheContrarian > 2017-06-17 13:53 | Report Abuse

Skliew, don't be too concern with IBs' TA or FA reports. What's important is we do our own research and we value Insas according to our own assessment.

Posted by Skliew > 2017-06-17 14:37 | Report Abuse

Contrarian,

Yes! Absolutely correct!
Thank you! :)

Posted by Skliew > 2017-06-17 15:03 | Report Abuse

But if an IB initiates coverage, the value in Insas would be unlocked and would not be so depressed as of now... :)

Posted by VenFx > 2017-06-17 15:18 | Report Abuse

End result is to declare dividen lar .

Posted by Skliew > 2017-06-17 16:06 | Report Abuse

KESM, lousy DIVIDEND also people chased ! Haha!

2016, 3+4.5
2015, 3+3,
From 2003-2014, only 3 sen

When price goes up, dividend is no more an issue! Hahaha! :)

Posted by paperplane2016 > 2017-06-17 16:38 | Report Abuse

Sohai, don't talk like sohai. You don't own this forum. If you don't like it you can get out

Posted by paperplane2016 > 2017-06-17 17:18 | Report Abuse

Xxxx is an ah seng, ah beng. Can't even talk English properly

Posted by Skliew > 2017-06-18 07:21 | Report Abuse

Hi ! GOOD Morning everybody!

Posted by Skliew > 2017-06-18 07:27 | Report Abuse

An interesting article by master sifu kcchongnz on the valuation of Warrants (Insas warrants) with the Black-Scholes method.

http://klse.i3investor.com/m/blog/kcchongnz/71783.jsp

http://www.fintools.com/resources/online-calculators/options-calcs/options-calculator/