Dear Thecontrarian, I have a soft spot for elderly people as I always say, “Our entire elder desired our respect as we do not know what they have gone through so that we can have a better life.”
As for your question: Dato’ Sri Thong has resigned to avoid brickbats from minority shareholders? My answer is definitely NO there are no brickbats from me or minority shareholders as I only have respect for the entire BOD and management team for continuously making profit for INSAS. What we have during last year AGM is some misunderstanding as I fought very hard for a better dividend. For this year I had already email my questions to the board and in my cover letter I wrote; “I had learnt from my previous INSAS 55th AGM where due to my eagerness and persistence in asking for better dividend with many questions and the board are caught unprepared thus causing the AGM to go into overtime with many things remain unresolved or in ambiguity causing misunderstanding and ill feeling among some attendees. For this year I would like to submit the question to the board before the AGM and I hope that the AGM can go smoothly with my questions answered in written form and projected to the screen. (As what INSAS answer to MSWG questions) I attached below a negative report from Sin Chew Press on the 55th INSAS AGM. https://klse.i3investor.com/blogs/sin_chew_financial_review/139361.jsp Hopefully this year will see a happy ending with me taking a group photo with the board.”
I only met Dato’ Sri Thong once during the 55th AGM. What I can say about him is he is a bit reclusive or an introvert but definitely a good man. May be he just want to take life easy at this stage or maybe he was offended by my questions as I can sense some uneasiness in him when he answered my persistent questioning on better dividend.
Yup, tomorrow at 9.00 - 9.27 price will go up, after that until 11.40 will go down, then go up until 3.17 then stay the same until 4.45, then will sharebuyback up again until closing
====== Posted by Outliar > Nov 26, 2018 10:20 PM | Report Abuse
Yup, tomorrow at 9.00 - 9.27 price will go up, after that until 11.40 will go down, then go up until 3.17 then stay the same until 4.45, then will sharebuyback up again until closing
you, the new fortune teller? price will go up 10.50pm onot?
Posted by Outliar > Nov 26, 2018 10:20 PM | Report Abuse
Yup, tomorrow at 9.00 - 9.27 price will go up, after that until 11.40 will go down, then go up until 3.17 then stay the same until 4.45, then will sharebuyback up again until closing
Yes 2sen. Double up the price . Lucky buy a little bit of Insas b4 this super good qr and still got dividend Insas is the most undervalued company in bursa
Dear all, Attended the INSAS 56th AGM. Now in KLIA2 waiting for my flight to Medan. Dato' Sri Thong did not attend the AGM as he already relinquished INSAS CEO duty to Dato's Wong. Dato' Wong answered questions from the shareholders in a calm and friendly manner. My emailed questions were answered in full and was projected into the white board for all the attendees with a copy in presentation format given to me. Most likely I will publish the answers given and some notes of further discussion in my i3 blog this Friday evening or on Saturday.
Dear TheContrarian, I can only say that Dato’ Sri Thong is a very good poker player, holding his cards/options very close to his chest. The questions I email in, some are direct questions to Dato’ Sri Thong as CEO.
Question: Dato’ Sri Thong can you give factual reasons why INSAS did not carried out what is clearly stated in the 55th AGM official minutes “seriously consider paying additional/special dividend and to formulate a formal dividend policy in FY 2018.”
Question: Dato’ Sri Thong has worked very long and hard to accumulate so much wealth into INSAS. With market closing price of RM 0.695 on 9th Nov 2018 versus Value (Mostly liquid assets: Quoted share, bank deposit, money lending &etc) of RM 4+ and growing. A day will come where big shark will tempted to make a hostile take-over the control of INSAS and distribute the wealth to all the shareholders. Dato’ Sri Thong and PACs only hold less than 33% INSAS share, if such hostile take-over do occur does Dato’ Sri Thong and PACs have the resources and supports of friendly minority shareholders to fend off such hostile take-over attempt?
Question: When will Dato’ Sri Thong and PACs intends to move over the 33% threshold and make a mandatory takeover offer (“MGO”) or seek a waiver of such MGO from the Securities Commission and the shareholders of INSAS under the Malaysian Code on Take-over and Mergers so that the company cans buyback INSAS share again.
Question: 265,202,536 WARRANTS 2015/2020 and 132,601,268 REDEEMABLE PREFERENCE SHARES expired and due on 25 February 2020. Knowing the intrinsic value of INSAS and if INSAS market share price still remain below RM 1.00 on 25th Feb 2020 will Dato’ Sri Thong and PACs convert the Warrants to INSAS share?
These direct questions were answered by the board from the board point of view as the board explained that since Dato’ Sri Thong already relinquish his CEO position thus he has similar right as shareholder and has no obligation to let other shareholders to know what he intends to do next except he step down as CEO for personal reason.
Thank you Note: As usual there is attendee scolding the board on misery dividend of 1cent for FY2018 and using the word stingy multiple times. As for me I thank the board for the interim 2 cents dividend for FY2019 and ask the board to convey my warm regards and well wishes to Dato’ Sri Thong.
Posted by kevin5059 > Nov 27, 2018 10:30 AM | Report Abuse pull the share price to 50sen, then 2cents dividend will become 4% annually. Everyone happy?? haha.
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Posted by calvintaneng > 2018-11-19 21:52 | Report Abuse
Good
Mulpha gave Mudajaya shares as dividend
INSAS can give Inari or Omesti shares as dividend