Posted by GGecko > 2017-11-23 14:03 | Report Abuse

INSAS son canteeekkkk.. sorry borrow your mantra ok..

Posted by dunspace > 2017-11-23 14:35 | Report Abuse

Wow Inari is at 6B market cap already, that's fast....

Posted by TheContrarian > 2017-11-23 14:42 | Report Abuse

goodguess, I was just lucky. I still had exposure to WB at cost of 30-32 sen when I sold off my personal holdings in Insas. Also one of my companies still owns shares in Insas at cost of 66 sen. My initial purchase of WB was at 22 Sen which I sold off at 30 sen, then bought back at 30-32 sen. Subsequently added at 36 - 37 sen. Recently added at 29 sen.

Posted by TheContrarian > 2017-11-23 14:45 | Report Abuse

Wow Inari hits 3.00

Posted by leno > 2017-11-23 14:46 | Report Abuse

hehehehe ... when a company is veri beautiful ... sooner those small pocket clever ppl will come in first, follow by veri BIG pocket clever ppl, then the big pocket not so clever, and finally those small pocket not clever ppl ... Dun worri ... ALL will make a lot of money ... INSAS CANTEEEEEEEEEEEEKKK !!!

Posted by Muthusamy > 2017-11-23 14:46 | Report Abuse

contrarian, mind to ask when u plan to sell off ur wb?

Posted by leno > 2017-11-23 14:50 | Report Abuse

u must understand how big Funds operating .... they need 1-2 days to screen thru all the list company announcement ... they need to screen thru the ROA , ROI, ROE ... P/BV , eps, PE ... then short listed those that pass thru their criteria ... then need to get approval from boss .... the boss will buy first, then his family, follow by friends and then onli Boss give green light to buy .... HAHAHAHAHAHAH ... now onli 2nd day ... meaning FUND boss and famili still busy collecting .... tick tock tick tock tick tock ......

Posted by alooloo > 2017-11-23 14:53 | Report Abuse

@goodguess

INSAS is a low volume "old" counter. Out of 663M shares, i guess only less than 5% active in market. So, it is easy to manipulate.

I don't trade, so i only buy and keep and hope for dividend and book value gain. It doesn't make sense for me to pay broker few thousands just to gain few cents profits with risk. 1 year steady 10% is my target. Anything better is just bonus.

Leno said she bought a lot, like millions. And i suspect she is trader type. Buy up and sell down frequently. Keep making small money of cents. So, must leave before she leave. That is simple logic. As long as insas is volatile, she probably will remain here. Once stable, she will hoop to another train.

Also, election is coming, i don't like to take risk at Malaysia.

US on the other hand have so much to gain. Since i sell INSAS, last month i made 50k USD from US market. I don't take leverage at all. Just play safe.

I still keep the share in USD and pray everyday for the tax bill passed. That will surely screw most market and boost US market. Imagine all company which earn money have extra gain in profit due to tax reduction. And company with lot of cash outside move money to US.

Also, US accounting rules have some change. Some recognition of revenue and profit will be different starting 2018 Jan. I go this info from Berkshire Hathaway financial statement. I read every words. It is inside.

All in all, there are better place for investment. Insas have multiple risks but limited profit. What if it can go to 1.27, does it worth the risk holding it through the coming elections?

Posted by leno > 2017-11-23 14:55 |

Post removed.Why?

Posted by alooloo > 2017-11-23 14:57 | Report Abuse

LOL leno... I already at rocket.

if i sit on your plane, i will have less money now. 1.02 vs 0.93.
Not to mention the opportunity cost of wasting the time at the best profit season.

Posted by leno > 2017-11-23 14:58 |

Post removed.Why?

Posted by leno > 2017-11-23 15:01 | Report Abuse

just enjoy the show .... RM 3 RINGGIT !! RM 3 RINGGIT !!

Posted by TheContrarian > 2017-11-23 15:01 | Report Abuse

Muthusamy I can't give a definite answer because I rely on my instinct, when to sell. II have over 20 years experience and has never lost in any counter for the past 17 years. I buy when I feel price is very low.

Posted by slm7212 > 2017-11-23 15:02 | Report Abuse

Who is Leno actually...looks like she got some NEWS inside....

Posted by GGecko > 2017-11-23 15:04 | Report Abuse

duit.. kutip duit.. haha

Posted by leno > 2017-11-23 15:04 |

Post removed.Why?

Posted by StockKeeper > 2017-11-23 15:05 | Report Abuse

Bonus issue? Special divided?

Posted by Muhammad Saifuddin > 2017-11-23 15:05 | Report Abuse

Any news from AGM

Posted by TheContrarian > 2017-11-23 15:05 | Report Abuse

Duit, thanks for sending in the Calvary.

Posted by slm7212 > 2017-11-23 15:05 | Report Abuse

but still not very confident that the price will be sustainable at the current market situation....

Posted by TheContrarian > 2017-11-23 15:06 | Report Abuse

Leno is no. 31 largest shareholder in Insas.

Posted by Muthusamy > 2017-11-23 15:07 | Report Abuse

then u must be a millionaire ady with so much experiences. How can i learn from you

Posted by TheContrarian > 2017-11-23 15:12 | Report Abuse

I am not a millionaire, I buy cheap cheap counters. In my first six years in the market I almost lost my merge savings but I learn something, I learnt to buy very cheap and hold out for as high as possible.

Posted by dunspace > 2017-11-23 15:14 | Report Abuse

Funny. Yesterday brought in at 0.915, today at 0.95. Nothing fundamentally changed, don't you just love Bursa?

Posted by Muthusamy > 2017-11-23 15:16 | Report Abuse

yes, after qr out, no show. instead today got show. maybe inari's effect ? or patience?

Posted by pretty_life > 2017-11-23 15:17 | Report Abuse

Limit up limit up for Wb

Posted by TheContrarian > 2017-11-23 15:18 | Report Abuse

Inari already moved in the morning. I think something positive came out of the AGM. We must thank Mr Sslee.

Posted by alooloo > 2017-11-23 15:22 | Report Abuse

"easy manipulated" , just 1M-2M ringgit u can move the needle of this stock a lot.
Trader pick no volume season (recent only 600k daily volume) to manipulate.

But this setup is more like to exit. Not setup for longer term play.

Posted by alooloo > 2017-11-23 15:22 | Report Abuse

Let's see. I like to observe and learn what traders did. Got to learn from each instance.

Posted by kingcobra > 2017-11-23 15:22 | Report Abuse

at least got some air 2 breathe now....n FOREVER??????????

Posted by Muthusamy > 2017-11-23 15:26 | Report Abuse

no need to manipulate, just let it up by its own.

Posted by slm7212 > 2017-11-23 15:34 | Report Abuse

still sometime to reach RM 1.00....It is not sustainable.....without buy support....

Posted by spagetti > 2017-11-23 15:47 | Report Abuse

any update from AGM? got question about latest insas's move in DGSB and omesti?

Posted by linges > 2017-11-23 16:10 | Report Abuse

reverse started again....ishhh!!!....go go to satu ringgit today

Posted by slm7212 > 2017-11-23 16:16 | Report Abuse

look like is the same group of buyer for inari and insas...

Posted by Sslee > 2017-11-23 16:24 | Report Abuse

Dear all,
13 copies of 5 page questions I prepared were given out and to be distributed to BOD, Key senior Management and Company Secretary prior to the start of the AGM. I was the first person given the opportunity to ask the questions.
Unfortunately most of the Key Senior management was absent including Ms. Thong Mei Chuan and Mr. Thong Weng Seng. Most of the question was answered by Dato’ Sri Thong, Dato’ Dr Tan and Dato’ Wong.
Auditor citing their professional code of conducts can only answer questions related to auditing scope of work and cannot comment on INSAS true intrinsic value nor why Market severely undervalue INSAS?
Basically Dato’ Sri Thong agreed INSAS is undervalue and it true intrinsic value should be around RM 3.00. He is unable to buy more INSAS share as this will trigger a MGO and he has no intention to take INSAS private. The only way he can buy more is to write in to Bursa for approval of waive and also seek shareholder votes for such waive of MGO obligation.
As of addition Dividend, Dato’ Sri Thong will consider but cannot make a firm commitment as INSAS need cash reserve for growth commitment and for investment opportunity.
The rest of the answers will wait for the AGM minutes as the Company secretary promised it will be published in INSAS website when it become available.
Thank you.

Posted by linges > 2017-11-23 16:25 | Report Abuse

superb !

Posted by Sslee > 2017-11-23 16:26 | Report Abuse

Good morning Y.A.M. Chairperson Tungku Aishah, CEO Dato’ Sri Thong Kok Khee, Board of Director, Management Team, Auditor, Company Secretary and my fellow shareholders.
First of all let me express my thanks and gratitude to the CEO, BOD and Management team of INSAS for making more profit financial year end June 2017 with EPS of 27.30 cents compare to financial year end June 2016 with EPS of 11.67cents and gave a dividend of RM 1 cents. Thank you very much.
However I am disappointed with a dividend of RM 1 cent as I expect more and I believe the company can definitely afford more. I am also cannot understand the under-perform of INSAS share market price of RM 93 cents (Closing price on 17/11/2017 with PE of 3.41 and NTA of RM 2.34)
Company secretaries, Ms. Chow Yuet Kuen and Ms. Lau Fong Siew for the record my name is Lee Soon Sheng, age 56.
Today I am here attending my first INSAS AGM with the aim of: Getting to know CEO Dato’ Sri Thong, BOD, Management team and to seek clarification from CEO, BOD, Management team and Auditor by asking some questions. I had grouped my questions under 3 subjects.
Subject 1: Financial report and Business outlook
Subject 2: Dividend
Subject 3: Share market price
Under each subject I will ask one question at a time and then pause for the management/BOD answer.
CEO Dato’ Sri Thong please allowed me to ask some of my questions to the BOD, Management team, and Auditor.

Subject 1: Financial report and Business outlook
Refer: INSAS Financial year end June 2017 Report, I would like to commend and thank the BOD for providing a very informative Page 10-19. Management Discussion and Analysis in this year report.

Please refer Page 15.
Investment holding and trading division generated revenue of 217 million and pretax profit of 100 million for year 2017 against year 2016 revenue of 130 million and pretax loss of 48 million. My congratulations and thanks to all those involve in this division for a remarkable turnaround.

Q1. Dato’ Sri Thong can you brief us on the organization or governance structure in place to oversee and manage this investment and trading function?
Q2. Dato’ Sri Thong is there an investment committee to meet periodically to evaluate the performance of the investments and whether the investing strategies meet the investment objective? And whether to take profit or invest more on mature investment or cut loss on underperform investment?
Q3. Dato’ Sri Thong Refer page 120 Item 18: FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS.
INSAS holding of Quoted securities assets at fair value through profit and loss for year 2017: In Malaysia RM 121,031,000 (Page 130 Gross Dividend 3,463,000, Yield of 2.9%) and outside Malaysia RM equivalent of 209,513,000 (Page 130 Gross Dividend 6,977,000. Yield of 3.3%) The book gain is from negative RM 33,485,000 (Page 132) in year 2016 to a gain of positive 42,167,000 (Page 130) for year 2017.
Note: INSAS quoted securities holding is even bigger that the icapital.biz berhad closed end Fund.
Refer PAGE 162, 163. Quoted securities outside Malaysia for Year 2017 VS 2016
US Dollar Singapore Dollar Euro Dollar Sterling Pound Australian Dollar Hong Kong Dollar Other currencies Total RM
50,123,000 100,934,000 31,000 4,964,000 2,289,000 45,352,000 5,820,000 209,513,000

Posted by leno > 2017-11-23 16:30 | Report Abuse

HAHAHAHAHAHA .. i love u sslee !! u got suggest ooi teck bee become investment advisor or not ?

Posted by kevin5059 > 2017-11-23 16:32 | Report Abuse

Thanks Sslee.

Posted by leno > 2017-11-23 16:35 |

Post removed.Why?

Posted by Sslee > 2017-11-23 16:36 | Report Abuse

As minority shareholder I am concern with this huge quoted investment securities and little detail. (Refer page 11. As of 30 June 2017, the investment in listed equities in excess of RM10 million in market value include: IGB Corporation Berhad, IGB REITS, SYF Resources Berhad, Ho Hup Construction Company Berhad, Omesti Berhad and Oversea-Chinese Banking Corporation Limited.) Thus I would like to request for better transparency, good governance and accountability. For Year 2018 Financial Annual report will BOD under operational review include in a detail tabulation of quote securities assets (In Malaysia and outside Malaysia) and brief explanation of reasons why certain shares were sold and new shares were purchased? Dato’ Sri Thong what is your opinion?
Q4. Refer page 162: Deposits with licensed banks and financial institutions Australian dollar equivalent of RM 174,294,000. Dato’ Sri Thong is this deposit earned a better interest, a bullish currency appreciation against RM? Or intend for future investment in Australia?

Refer page 17. Car Rental
Increase in revenue in the car rental segment slowed down in FY2017 mainly due to the competition from smart phone-enabled ‘Ride-hailing’ services which resulted in lower demand and revenue stream from the Group’s conventional car leasing businesses. In tandem, the operating pretax profit dipped sharply in FY2017. From 3,901,000 year 2016 to 185,000 year2017
Management has downsized the car fleet from 1,347 to 1,205 units for cost savings and to achieve better utilization of its car fleet.
Refer page 97.
Motor vehicles Cost:
At beginning of financial year 174,778,000
Additions 64,892,000
Disposals (38,780,000)
Exchange differences 4,793,000
At end of financial year 205,683,000
Depreciation charge for the year 32,814,000

Q1. Mr. Thong Weng Sheng (Director: Roset Limousine Services Pte Ltd, Insas Pacific Rent-A-Car Sdn Bhd). Car rental is a capital intensive with highly depreciable asset and used up a lot of management resource yet did not give a reasonable return on capital. Do you see a future in car rental business in Malaysia or in Singapore?
Q2. Dato’ Sri Thong, should INSAS further downsize the car fleet and free out the resource of capital and manpower for other better growth potential business?

Refer page 118, item 16. Trade receivable had increased from 305.518 million in 2016 to 419.605 million in 2017. Receivable past due for more than 121 days had increased from 44.373 million in 2016 to 50.244 million in 2017.
Dato’ Thong Kok Yoon (Executive Director M&A Securities Sdn Bhd)
Datuk Tan Choon Peow (Executive Director-Corporate Finance)
Mr. Goh Hock Jin (Executive Director cum Head of Operations M&A Securities Sdn Bhd)

Q1. Is the majority of trade receivable incurred from stock broking margin finance given to clients and Loans given to clients from corporate finance Division?
Q2. Should we be alarmed by over 50 million receivable past due for more than 121 days?

Posted by linges > 2017-11-23 16:39 | Report Abuse

mother 3 ringgit...son 1.50 ringgit :)))

Posted by leno > 2017-11-23 16:40 |

Post removed.Why?

Posted by linges > 2017-11-23 16:40 | Report Abuse

sorry if mother 3 ringgit...son will be 2ringgit @ zero premium

Posted by linges > 2017-11-23 16:41 | Report Abuse

aiyah...before i correct my statement...u already tell me bodo...dont lah Sifu...

Posted by linges > 2017-11-23 16:42 | Report Abuse

kita sama-sama mau buat duit...happy happy always

Posted by Sslee > 2017-11-23 16:43 | Report Abuse

Will paste another 3 pages later as it seem the site reject my pasting.

Posted by linges > 2017-11-23 16:44 | Report Abuse

Sslee...check before u paste...Sifu here very particular...sikit silap...sudah cakap bodo..

Posted by kevin5059 > 2017-11-23 16:45 | Report Abuse

If mother Rm 3.00, son should be around 2.50+++ for roughtly 16%+ premium. However, don trust the RM 3 la. As long as can hit RM 2.50 I will run like no tomorrow and wait for the global crash... lol.