Dear Eukansoft, Be patient, this year we had given BOD enough pressure at the AGM to do the right thing. If no improvement, next year will be a no holds barred confrontation. As I said before, “Have patience and be calm as we alone cannot change the many wrongs of this world overnight. So be patient, have faith and do not lose hope, be persistent, have courage and perseverance till the end. The end might turn out to be a disaster but anyhow enjoy the journey and learn something from it.” EGM is not a best option because you need solicitor to draft a requisition of EGM and proof of not less than 10% equity ownership. If you are holding margin account in which your share is Pledge Securities then you must obtain the written approval from Bank Nominees. The better option is to move a special resolution for voting on next year 56th AGM by giving notices not less than 21 days to BOD before the AGM is called. (Company Act 2016 section 292. (1) A special resolution of the members or class of members of a company mean a resolution of which a notices of not less than twenty-one days has been given and passed by a majority of not less than seventy-five per centum of such members. (3) Subject to paragraph (1)(a), a special resolution passed at a meeting on a show of hands is passed as a special resolution if it is passed by not less than seventy-five per centum of the members who are present at the meeting. https://www.ssm.com.my/sites/default/files/companies_act_2016/aktabi_20160915_companiesact2016act777_0.pdf Hence any INSAS shareholder can give sufficient due notices to BOD to move a special resolution at the next AGM of distributing INARI share to INSAS share holders at the ratio of: Number of INARI shares held by INSAS as of dated 24/12/2018 divided by total numbers of INSAS share as of dated 24/12/2018. The ex-date for the above entitlement as from: 24/12/2018. Thank you.
Mr Sslee, special resolution (requiring 75% approval) is for certain matters like changing the name of the Company, altering the Company's Memorandum & Articles etc. Most other matters are regarded as ordinary resolution (requiring simple majority).
DearTheContrarian, I had received many AGM minutes end with company had not received any notices to deal with other business for which due notices was required to be given. Will consult other to clarified this point. Thank you.
Dear TheContrarian. Rechecking on Company Act. Section 322 and 333. Resolution requiring special notice. Notice is 28 days. By members representing at least two and half per centum of the paid up capital or at least 50 members who have a relevwnt right to vote. Thak you
Uptrending, it seems not because during AGM, TKK had support of only 204 million votes, which is around 33%. The minorities who attended collectively held more than 46 million shares.
204 million is already enough for this AGM lo... the rest no need to surface ma... I suspect only.... not quite possible for a hostile take over, that was what i tried to put forward...hehe..
Through swap from insas to inari today, portfolio manage to reverse loss incur in insas and warrant, offset by higher contra profit locked in inari, realize overall net profit :D)
I believe invest is about profit sharing. Insas have bad record of profit sharing, except during the bad time.
During bad time, Insas start to share the profit and that attract investor. This reduce his family risk. But once Insas share price up, Dato Thong start to milk on investor. Issue RSP and warrrants.
Since then, he paid more interest to RSP (which he subscribe around 50%) and also holding the option to dilute the share in 2020. In lay man term, he is taking salary from the company, and also earning safe money from RSP interest. On top of that, in 2020, if shareholder are stupid enough to push price above 1 dollar, he will exercise the warrant and own bigger share of the company, milk the shareholder another round.
These are bad thing for investor.
Some people think he is warrant buffet style, but in fact, i think he is more like Li Kasheng style. Milk his own people money till everyone poor but himself so rich that he can privatize the company again.
Having said that, i think profit sharing will come again, if share price drop enough. Wait for that. And then we go in to earn the profit for few years, till dato thong become selfish again.
Affin Hwang Capital raises target price for Inari to RM4.28 TheEdgeMon, Dec 04, 2017 - 1 hour ago
KUALA LUMPUR (Dec 4): Affin Hwang Capital Research has maintained its ‘Buy” rating on Inari Amertron at RM3.24 with a higher target price of RM4.28 (from RM3) and said Inari continues to be its preferred outsourced semiconductor assembly and test (OSAT) play for its solid expansion and execution of strategies.
In a note today, the research house said strong and growing demand for premium RF filters has helped fuel most of Inari's growth but new drivers (IRIS IR chips and its data server segment) will help propel a 3-year forward CAGR of 35%.
“Maintain Buy with a higher target price of RM4.28,” it said.
New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
hng33
20,220 posts
Posted by hng33 > 2017-11-29 13:56 | Report Abuse
Foreign fund should take over Insas to gain 20% control in Inari which is double value compared to entire Insas.