Posted by mani_cum > 2018-01-22 11:02 | Report Abuse

Mr. Sin Di Cat want up, why sell cheap??

Posted by zoozooka > 2018-01-22 11:22 | Report Abuse

TP 10

Posted by TheContrarian > 2018-01-22 11:23 | Report Abuse

Sin Di Cat wouldn't push up until collected enough cheaply.

Posted by Fabien Extraordinaire > 2018-01-22 15:26 | Report Abuse

still cant break above 1....need to add some oil

Posted by Tai KT > 2018-01-22 17:09 | Report Abuse

no problem for price not going up , but give more dividen is prefer. otherwise, wasting of time.

Posted by EngineeringProfit > 2018-01-22 18:26 | Report Abuse

Long term investors......come

Posted by Tai KT > 2018-01-23 15:29 | Report Abuse

zzzzzz

Posted by Tai KT > 2018-01-24 11:17 | Report Abuse

RM 1 is so difficult for this counter

Posted by dunspace > 2018-01-24 12:15 | Report Abuse

on contrary, RM 2 is not.

Posted by TheContrarian > 2018-01-25 19:28 | Report Abuse

Insas owns shares in IGB. IGB merged with Goldis in share exchange deal. Goldis went up by 10% after merger. How much gain to Insas?

Posted by dunspace > 2018-01-25 19:48 | Report Abuse

Can't figure how much % of shares does Insas own~

Posted by Tai KT > 2018-01-25 20:31 | Report Abuse

Insas does not own igb or goldis, can not find in top 30 share holder there.

Posted by Sslee > 2018-01-25 21:23 | Report Abuse

Dear Tai KT,
From 2017 Financial report INSAS holding of Quoted securities assets: In Malaysia RM 121,031,000 and outside Malaysia RM equivalent of 209,513,000.(Refer page 120) The 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. (Refer page 11)
Outside Malaysia quoted securities by countries RM equivalent:
USA: 50,123,000. Singapore: 100,934,000. Euro: 31,000. British: 4,964,000. Australian: 2,289,000. Hong Kong: 45,352,000. Other: 5,820,000. Total RM: 209,513,000. (Refer page 162)

Know new addition for Q2, DGSB 270,000,000 units (19.91%) for RM 12.83 million and unknown whatever Dato’ Sri Thong had invested in or cash out?

For wants of detail information I had ask Dato’ Sri Thong the below question during the 55th INSAS AGM;
As minority shareholder I am concern with this huge quoted investment securities and little detail. 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?

Thank you

Posted by Tai KT > 2018-01-25 21:50 | Report Abuse

bro Lee, thanks to point out and a lot if good points. I have same feeling.

Posted by TheContrarian > 2018-01-25 22:03 | Report Abuse

Insas also owns shares in OCBC Bank which owns around 88% of Great Eastern.

Posted by Tai KT > 2018-01-25 22:42 | Report Abuse

insas own great eastern share in Singapore or Malaysia?

Posted by dunspace > 2018-01-25 22:43 | Report Abuse

What happened to Insas-WB?

Posted by Tai KT > 2018-01-25 22:46 | Report Abuse

wb no problem lah, wait til 2020

Posted by dunspace > 2018-01-25 23:31 | Report Abuse

Sorry, forget I ask, the volume is insignificant

Posted by LuckyG > 2018-01-26 08:46 | Report Abuse

huge cash . interest rate hike . should be better return . still not going up ? lending company

Posted by dunspace > 2018-01-26 10:27 | Report Abuse

patient.

Posted by StockKeeper > 2018-01-26 11:47 | Report Abuse

Down down down

Posted by dunspace > 2018-01-26 17:52 | Report Abuse

funny how it is always nearing the closing that the price gets push down. I wonder why~

Posted by LuckyG > 2018-01-26 18:06 | Report Abuse

press down to collect ... not time to rally yet

Posted by dunspace > 2018-01-26 19:07 | Report Abuse

No "stories" to tell yet

Posted by Fabien Extraordinaire > 2018-01-26 20:12 | Report Abuse

we all can talk how much Insas own this...own that....unrealised gain in this...but end of day Insas remains severely underperformed...the gap between the share price and intrinsic value remains a wide gap...a gap that in a foreseeable future would remain as that

Posted by TheContrarian > 2018-01-26 21:34 | Report Abuse

Minority shareholders should form a grouping and launch a takeover.

Posted by dunspace > 2018-01-26 22:41 | Report Abuse

I don’t believe the gap will remain as that in the foreseeable future.

Impossible for takeover, Thong has control once he converts his warrant.

Posted by Jarklp > 2018-01-27 00:03 | Report Abuse

Are Inari's insiders (including Thong) selling their shares? Please sell all Inari shares and distribute the cash to us... LOL

http://www.malaysiastock.biz/Company-Announcement.aspx?id=1030784

Posted by Fabien Extraordinaire > 2018-01-27 15:00 | Report Abuse

dunspace...u can check the past 10 years record. the disparity has always been there

Posted by Fabien Extraordinaire > 2018-01-27 15:02 | Report Abuse

i have been holding since 2015. at that point i was thinking maybe Inari can be a game changer for insas

well, inari has indeed become one of the best performing stock but sadly not Insas

Posted by StockKeeper > 2018-01-27 16:11 | Report Abuse

After qr results come out. If No dividend I also quit. I also hold since 2015

Posted by dunspace > 2018-01-27 22:40 | Report Abuse

@Fabien, Outstanding buying opportunities exists primarily because perception understates reality. I did a check on the gap between insas share price and its equity per share, the biggest gap in my check was 2012, the gap was 274%. One year later, the returns on investment was 130%.

Following years, the gap was 73%,86%,149%. At 2016, it was 197% and one year later the ROI this time was 35%.

Looking at it now, the gap is 151% and very importantly in the year 2017, how many BILLIONS has Inari grown in market cap? What will be the ROI this time as the gap widens beyond? Only time will tell.

Look at the TOP30 Shareholders, Emerging funds increase their investment from 2013 to 2017 rather than exiting. Now the perception of Insas is really bad but this has provided the opportunity for you and me to invest at this price where any sign of optimism has been driven out.

Posted by dunspace > 2018-01-27 22:43 | Report Abuse

I would say this, if you hold Insas to the same regard as a RED CHIP company, please go ahead and dump this stock, never look at it again.

If you don't, I don't see any reasons why not to invest. It is as simple as that to invest in Insas.

Posted by Fabien Extraordinaire > 2018-01-27 23:17 | Report Abuse

let's try to have some constructive discussions on investing, shall we.

i am invested because Insas qualifies as Ben Graham's net-net investments. back then it was above 50% discount to its liquidation value. now i believe its widen even further if one to take into account the potential unrealised MTM gain in the their investments.

i never expected Insas to be a RED CHIP company. and Insas will never be one.

By the way, do try to avoid telling ppl do dump their stock.

Posted by Fabien Extraordinaire > 2018-01-27 23:30 | Report Abuse

the reasons i would stay invested in Insas simply because the company has been growing its BV per share every year consistently. that;s the more appropriate way of looking at Insas.

each quarter, i would monitor the gap between its share price and its net-net assets per share.

Posted by Fabien Extraordinaire > 2018-01-27 23:30 | Report Abuse

the very least the management can do is to create a form of value situation for its investors which i belive increasing dividend payout is the easiest to do considering the healthy CF generation.

Posted by TheContrarian > 2018-01-28 00:31 | Report Abuse

I only discovered Insas-Inari connection in June 2016 and bought at prices ranging from 65 to 68 sen. I don't feel frustrated like most people who bought earlier.

Posted by dunspace > 2018-01-28 11:02 | Report Abuse

I like to clarify that I did not tell you to dump the stock literally. I obviously stated that if you hold Insas to the same regard as a red chip then only I would advice you to dump the stock. If you feel that advice is wrong and you should invest in a red chip, we can have a constructive discussion regarding that.

Posted by dunspace > 2018-01-28 11:19 | Report Abuse

It is not only the BOOK VALUE of Insas that you should look into. There are a lot more than that:

1) Cash generation. ( If book value high but leaking cash then it won't be attractive) Is the cash generation historically proven to be HEALTHY?
2) Hidden assets value (What's the gap now?, is it at a historical high?
3) Current overall market outlook ( Does the interest rate hike benefit money lending business? Is retail business going to grow this year? A hint to you regarding the upcoming quarter would be how did SGX and the US equity market did last year end ?)


Most importantly for Insas specifically is the market psychology:

4) Those who buy at 2015 will be those complaining, those brought at 2016 will be satisfied. The psychology of the investors are affected by what PRICE did they buy in. It is human nature that if as your investment goes down, you have a tendency to think about exiting because you will be more inclined to think that you are wrong. The literal opposite is true too. However, to avoid this mentality, having a firm valuation can help you to overcome this period and an investment philosophy that you hold firmly.

How does the market think affects the share price heavily, sometimes too heavily that we can benefit from it. What does the market think now is up to you to interpret and judge.

Posted by TheContrarian > 2018-01-28 12:56 | Report Abuse

Those people who had bought in 2015 should have averaged down in 2016.

Posted by Fabien Extraordinaire > 2018-01-28 13:03 | Report Abuse

Why those bought in 2015 should be complaining? and why those bought in 2016 should be satisfied?

my first purchase was in AUgust 2015 at 77 sen.
of course 2016 it went down further and any decent investor would have averaged down.

Posted by Fabien Extraordinaire > 2018-01-28 13:12 | Report Abuse

4) Those who buy at 2015 will be those complaining, those brought at 2016 will be satisfied. The psychology of the investors are affected by what PRICE did they buy in. It is human nature that if as your investment goes down, you have a tendency to think about exiting because you will be more inclined to think that you are wrong. The literal opposite is true too. However, to avoid this mentality, having a firm valuation can help you to overcome this period and an investment philosophy that you hold firmly.


I am sitting on above 40% unrealised gain.my average cost is 68 sen.
My first purchase was 77 sen in August 2015.

I know why i bought into Insas and i have a firm valuation as to how much Insas is worth. And that's the main reason my frustration lies because the big wide gap is there.

I believe management could have done better to create value situation for the shareholders.

Posted by Fabien Extraordinaire > 2018-01-28 13:31 | Report Abuse

Insas is currently at NEGATIVE enterprise valuation.

There is much room for management to act in the best interest of shareholders, one way is to return some cash. Otherwise, any catalytic event would have to imposed by shareholders in the form of activism. Benjamin Graham does that very well.

Posted by EngineeringProfit > 2018-01-28 13:36 | Report Abuse

Yes, Fabien. Totally agree with you. That's why I return to this stock recently.......after selling for some time

Posted by Jarklp > 2018-01-28 14:01 | Report Abuse

Such a big gap is less likely to happen in more efficient markets, especially when the assets are mostly in liquid form.

The most annoying part is that I don't see much reaction or effort from the management to respond to the requests over years. I believe the management becomes complacent due to lack of alternate major shareholders to knock their door to request for better performance. The company is still very much managed like a family business.

Posted by dunspace > 2018-01-28 14:27 | Report Abuse

"I know why i bought into Insas and i have a firm valuation as to how much Insas is worth. And that's the main reason my frustration lies because the big wide gap is there. "

Your frustration is the reason why the company is worth investing in now. Sorry about saying 2015, it is first half of 2015 and around 2014. By the way, I am not pinpointing the post to you as I don't even know when did u buy Insas or as you mention any decent investors would had known to average down, I am stating that the valuation error caused by the market psychology is something we should exploit rather than be frustrated about.



I will just reiterate this:

"I would say this, if you hold Insas to the same regard as a RED CHIP company, please go ahead and dump this stock, never look at it again.

If you don't, I don't see any reasons why not to invest. It is as simple as that to invest in Insas."

This is my opinion based on my valuation.

Posted by leno > 2018-01-28 15:06 | Report Abuse

i make multiple millions from insas alone .... hahahahahah ... i am FULLY SATISFIED ! INSAS CANTEEEEEEEEEEEEEEEEKKKK !!!

Posted by TheContrarian > 2018-01-28 15:39 | Report Abuse

Leno made the most from Insas.

Posted by TheContrarian > 2018-01-28 15:40 | Report Abuse

In the latest issue of Focus Weekly, Insas is listed as fourth most undervalued counter.