Posted by TheContrarian > 2019-01-04 15:46 | Report Abuse

Haha linges, Insas price will overtake Inari soon. Hahaha.

Posted by dunspace > 2019-01-04 15:53 | Report Abuse

Dear SSLEE,

Thank you for reply,I think you are most probably right about the purpose for transferring between subsidiaries.

May this increased dividend be the first but not the last, all the best to all investors this year.

Posted by linges > 2019-01-04 18:11 | Report Abuse

Yes TheContrarian..that should be the way Insas should move...time to think to re-enter in Insas...but no bullet now...

Posted by stockraider > 2019-01-05 00:29 | Report Abuse

Dear SSlee,

Raider is disappointed u r not promoting INSAS loh...!!
When raider heard from people that u r promoting insas, raider is very excited and decided to join the insas bandwagon to promote as well loh...!!

FYI raider is not ashamed promoting insas bcos raider know & understand its hugely undervalue....people who buy will be able to make monies loh...!!

Promoting insas is positive social service for the followers in i3 loh...!!

SSlee ur call for Insas to come down to Rm 0.50 for u to buy cheap is just wishful pipe dream thinking loh...!!

Although never say never....there is a remote possibility in this weak market u dream may come true loh...!!
But raider see buying at rm 0.655 is more than sufficient margin of safety to make monies loh...!!

Posted by Sslee > Jan 5, 2019 12:02 AM | Report Abuse

Dear all,
I am not promoting INSAS in fact I am waiting to collect INSAS at RM 0.5 from i3lurker.
The blog is supposed to be a comment in QL forum in sharing with 10154899906070843 comments dated: Jan 2, 2019 11:09 PM as what I see in INSAS. But somehow the comment page keep rejected my comment and hence I was forced to posted it as blog.

Thank you
P/S: You can go to QL forum to read his comment dated: Jan 2, 2019 11:09 PM

Posted by stockraider > 2019-01-05 00:39 | Report Abuse

Raider ask loh....why u want to buy wonderful co at high uncertain price n hold for 20 yrs when u can buy insas for rm 0.65 which already has rm 2.54 equity value, which is an equivalent to compound growth rate of 20% pa for next 7 yrs loh...!!

Why u r not willing to hold insas for 3 to 7 yrs leh ??

Posted by johnbrooks > 2019-01-05 01:58 | Report Abuse

Sslee, i actually think it will be good for u to promote the company. Understand u want to collect more at lower price but u also must have limit to ur capital. Most investors actually don't know where to park their money now with the trade war, slowing global economy, interest rate hike, fund tapering by central bank etc. At least once u done collecting u should try promote the company to others. Win win situation. U get capital appreciation, other investors get to invest in something a bit more solid. Now everyone i think buy what is hot at the moment.. I think this week must be carimin and kub. Next week mayb hibiscus & presbhd. They dont actually understand y but just follow crowd. Those stock already covered by analysts are already trading at high price. Good business but super expensive. Some other promoter, when asked question dont want to explain. Just critic saying those in doubt dont understand the business lah, stupid lah etc.. But they also don want to explain. Mayb they also dont understand.

U dont join the stock pick 2019 contest? Can't find ur name. Just want to know what stock u think are interesting..

Posted by newbie4444 > 2019-01-05 03:15 | Report Abuse

Got rebound must sell. Already many years the same.

Posted by Sslee > 2019-01-05 13:40 | Report Abuse

Dear johnbrooks and stockraider,
Your comment noted with thanks. I can only reply to those naysayers of INSAS with facts and figures I gathered from financial report and AGM minutes. I have my empathy and sympathy with all the long suffered INSAS minority shareholders where INSAS is doing well and why the Board did not reward the shareholder with fair market price or a reasonable dividend. Hence I attended the AGM, trying to know the board and what is inside their thinking. I have a good long hour of private talk with newly appointed CEO Dato’ Wong and I am impressed with what he told me moving forward on INSAS future. Although still a prudent and conservation approach but with clear aim for improvement on current business, mid-to long term on better utilization of cash reserve/asset, working with renowned university and researchers for patent right and development of application/manufacturing and commercialize of this patented products.

I have my sympathy too with major shareholder Dato’ Sri Thong that his holding together with PAC is very close to 33% the threshold for MGO thus any buying or even share buy-back will trigger this threshold.

I do not blame the naysayers of INSAS because it is a fact that INSAS had been an undervalue cash rich stock where it market share price underperformance the general market for many-many years. Thus it was labeled as value trap for a reason and even OTB also give up on INSAS. Will the new CEO unlock the value of INSAS for the shareholder? Time will tell but at least a 2 cents interim dividend will be banked into shareholder’s bank account this month.

My take on INSAS is “The first generation work very hard to create wealth from scratch. The second generation work even harder to accumulate wealth. The third generation work smart and hire a hard working and capable CEO to run the business for them and they enjoy the wealth.” This is generation change in progress, I world like a Jack Ma style of leadership rather than the old style of owner himself working hard as what Mr. Philiip Fisher implied he value hand-on QL owner at site 5.00 am and working himself to the ground and this QL growth company should worth a PE of 50+ and INSAS deserved a PE 5. In conclusion: “different strokes for different folks” to each his own.

Thank you
P/S: “I am not promoting INSAS in fact I am waiting to collect INSAS at RM 0.5 from i3lurker.” is my joking with i3 lurker for his comment posted on INSAS forum dated; 12/12/2018 15:54 together we can short this down to 50 sen to help sslee buy cheap.
all must help sslee
SELL

Posted by Sslee > 2019-01-05 14:13 | Report Abuse

Dear johnbrooks
I do not join the stock pick 2019 contest as I am a newbie in investment and I am humbly learning from all the i3 Sifu. I will spend this week end in studying the financial report of some of Sifu’s interesting stock pick.

By the way i3 allocated 25 minutes slot for me as speaker for the upcoming Investment Bloggers day 2019 conference on 2nd March 2019, Boulevard Hotel Mid Valley, KL.

I will prepare my topic during CNY break “Love triangle FA–TA-BS” and crack some jokes on “i3 User ID feng shui”.

I am excited and can’t wait to personally meet all the i3 Sifu. Hope to meet stockraider Sifu during the conference.

Thank you

Posted by geary > 2019-01-05 22:32 | Report Abuse

Ha...Whatever cash n assets that can't generate an above average return on equity...Mr. Market will never take it seriously... mystical company... already selling below its floor value... probably its cash flow is erratic...follow by its price...!!!???

Posted by stockraider > 2019-01-06 00:15 | Report Abuse

Raider beside a value investor is also a contraian investor loh...!!

The popular investment theme today is the growth of revenue and profits mah...!!
QL fall into this category

The contraian investment theme high Nta .....high cash...low PE with big margin of safety and big obvious undervaluation of share price....BUT today very unpopular investment theme cited as value trap loh..!! INSAS under this category loh....!!

Raider says if it is unpopular u buy & follow loh....bcos being contraian it is one of the safest approach loh...!!

Posted by dson88 > 2019-01-06 00:58 | Report Abuse

SS Lee

"I have my sympathy too with major shareholder Dato’ Sri Thong that his holding together with PAC is very close to 33% the threshold for MGO thus any buying or even share buy-back will trigger this threshold"

Please do not have sympathy for them as they do not and will not sympathise you. You can press on them to invoke Rule 4.15 of the Takeover code in relation to the share buy back scheme but I doubt there will be any positive outcome from this. DST and his PAC are very well versed with corporate actions. If they are sincere, they would have done it. They will just give the usual blah blah blah.....

There are companies that did it before. Link as below.

http://disclosure.bursamalaysia.com/FileAccess/viewHtml?e=251924

Keep up the good work though!!!

Posted by foreign_fund > 2019-01-07 09:21 | Report Abuse

67.5 sen sold. Many trap here why must push?

Posted by Eukansoft > 2019-01-07 12:56 | Report Abuse

I don't think we should sympathize with the BOD especially the Thongs. They have run the company for over 30 years with the first 20 years losing money. They woke up only when the company was going to be wound up. They won a jackpot when they invested in Inari. However, businesses they run such as Millian?, car renting are still doing miserably. We would be lucky if these businesses do not drain up the cash reserve in due course of time. I suspect this is the reason for the low dividend rate.

Posted by stockraider > 2019-01-07 13:02 | Report Abuse

no need to sympathise lah....dia orang kaya mah....!!
Thong resign from the board for strategic reason loh...!!
But he still calling the shot behind the scene loh...!!
Overall It is better for insas going fwd mah...!!

Posted by Eukansoft > Jan 7, 2019 12:56 PM | Report Abuse

I don't think we should sympathize with the BOD especially the Thongs. They have run the company for over 30 years with the first 20 years losing money. They woke up only when the company was going to be wound up. They won a jackpot when they invested in Inari. However, businesses they run such as Millian?, car renting are still doing miserably. We would be lucky if these businesses do not drain up the cash reserve in due course of time. I suspect this is the reason for the low dividend rate.

Posted by Sslee > 2019-01-07 23:42 | Report Abuse

Dear all,
My sympathy for Dato’ Sri Thong and PAC is in referring to Datuk Tony Tiah who have deep pockets to prove to SC that he and PAC are able to offer MGO for TAE when he crossed over the 33% threshold whereas Dato’ Sri Thong and PAC may not have deep enough pockets to do so.

Just imagine is today Inari market price is RM 3 instead of RM1.33 and a Shark just buy 30% and call an EGM to hostile takeover control of the board and promise sweetener that he is ready to give better dividend or distribute Inari share to shareholders. Under this situation minority shareholders will be king maker and not difficult to think who will they vote. Can Dato’ Sri Thong bear to see that he lost the control of his family company in such situation?

Thank you

Posted by Jarklp > 2019-01-08 01:05 | Report Abuse

Agree with Eukandsoft. If DS Thong cannot grow the company and reward the remaining shareholders. He should just leave it to others who can. He also benefits from any takeover. Honestly who cares if he loses control. He also doesn't really care if his shareholders are making money. We are not investing to make him happy.

Posted by ZEPAN > 2019-01-08 01:47 | Report Abuse

calvintaneng Insas is grossly oversold

AT this price this is a real bargain in klse
03/01/2019 21:59


Insas has been down more than 27% and if you were to take a good look at it credentials , you will believe what Calvin has said.....

NTA $2.54
PE 5.22
EPS 13.65 cents
Dividend Yield 2.94%

What more can we ask for?

NOW, IT'S PRICE IS AT IT'S LOWEST AND PERHAPS PICK IT UP AND LOCK IT UP FOR SOME TIME AND YOU COULD SEE IT MULTIPLY?


ALL THE BEST TO ALL., GOOD LUCK.

Posted by fly2sky > 2019-01-08 01:47 |

Post removed.Why?

Posted by calvintaneng > 2019-01-08 14:00 | Report Abuse

INSAS

If Got Money Can This Private at Rm1.50

Break it Up & Sell For Rm3.00 Easily

WAHAHA!!!

https://klse.i3investor.com/servlets/forum/600189233.jsp

Posted by enigmatic > 2019-01-08 14:57 | Report Abuse

Buy for its cash and NTA, not on some 'privatisation news'.

Posted by Ron90 > 2019-01-08 19:41 |

Post removed.Why?

Posted by anticonman > 2019-01-08 20:40 | Report Abuse

Agree. Conman ctr.

Posted by Sslee > 2019-01-09 17:41 | Report Abuse

Dear all,
Insas berhad and Insas technology were buying Inari by million.
Thank you

Posted by TheContrarian > 2019-01-09 20:41 | Report Abuse

Insas Bhd bought Inari shares through Insas Technology one million on 3/1 and another one million on 4/1. Any subsequent purchase not yet announced.

Posted by dunspace > 2019-01-10 21:05 | Report Abuse

If you do not invest based on fundamentals, how do you invest? Stories? Narratives?

Posted by 10154899906070843 > 2019-01-11 22:23 | Report Abuse

Sslee, interested in learning something new here. Not being critical or offensive.

I humbly want to know:

Many management are comfortable with going over the 33% , and many ways to go about it without triggering the stock buyin.
e.g.
NESTLE SA owns 70% of Nestle Malaysia
Ql owners own 52% of ql resources
Hap Seng consolidated Berhad owns 53% of hap seng plantations

What do you mean when they cannot go above the 33% mgo threshold?

Do you mean
A. When they trigger this threshold they need to show SC that they have enough money to buy all the shares as a substantial shareholder, otherwise they must sell until below this level again?
Or
B. they unable to create a proxy holding company so that they can hold indirect shares in INSAS that they can use to increase their direct shareholdings privilege

Very interested to know.

- I still believe that the best option is for INSAS to buy back its own stock to push up the price of INSAS to fair value region, instead of buying more stock in inari and dgsb and vigcash which is high pe valuation. If INSAS is overvalued I can understand the reason for not doing this, but INSAS seems so grossly undervalued I really want to understand management decision in not doing so.

Posted by TheContrarian > 2019-01-11 22:54 | Report Abuse

Controlling shareholders who already own more than 50% can buy or sell any amount if shares freely without restrictions. Major shareholders who own between 33% to 50% can buy up to 2% of the company's total shares over a six months rolling period without triggering a MGO. Major shareholders who own below 33% will trigger a MGO when 33% is breached and must show proof to SC they have the financial means to buy out the remaining 67% at the highest done price. Controlling/Major shareholders include persons in concert ie holdings through companies controlled by them, through spouse, children, parents, siblings, in-laws etc.

Posted by stockraider > 2019-01-12 01:11 |

Post removed.Why?

Posted by stockraider > 2019-01-12 01:24 | Report Abuse

if u buy insas today for rm 0.67...with equity value of rm 2.54 per share is equivalent to buying a growth stock share of rm 0.65 with a compounded growth rate of 20% pa for the next 6 yrs loh...!!

Posted by stockraider > Jan 4, 2019 12:55 PM | Report Abuse X

But in the case of insas compare to growth stock, just in case the growth rate falter from 20% pa to negative 5% pa within 1 yr...in the case of insas u still get equity value of rm 2.54 per share loh..!!

This is the wonder of value investment like insas loh...!!
A bird in the hand is better than 2 in the bush loh...!!

Posted by stockraider > Jan 4, 2019 01:02 PM | Report Abuse X

Raider ask loh....why u want to buy wonderful co at high uncertain price n hold for 20 yrs when u can buy insas for rm 0.65 which already has rm 2.54 equity value, which is an equivalent to compound growth rate of 20% pa for next 6 yrs loh...!!

Why u r not willing to hold insas for 3 to 7 yrs leh ??

Posted by qqq3 > 2019-01-12 01:40 | Report Abuse

raid....this thing is worth more dead than alive ...so?

Posted by qqq3 > 2019-01-12 01:42 | Report Abuse

look at the revenue account

Posted by paperplane > 2019-01-12 02:28 | Report Abuse

This stock down because of inari

Posted by ivan9511 > 2019-01-12 02:59 | Report Abuse

Insas confirm is the most undervalued company in bursa.
Because cash rich assets rich
Hold many good future comapny.
So far still cannot find other can more undervalued than Insas.
Limit up is 100000% confirm
No need scare just buy Insas.
Another mui and Ta also good

Posted by dunspace > 2019-01-12 09:11 | Report Abuse

What good future company do Insas hold?

Posted by Sslee > 2019-01-12 09:15 | Report Abuse

Dear Mr. Phillip,
TheContrarian is right on MGO

You can refer to below link for SC rule on take-over -code
https://issuance.sc.com.my/legislation-guidelines/take-overs-code/
At 33% threshold the offer is conditional MGO and will only become unconditional if the acceptance push the major shareholder and PAC holding to (50% +1)

The offer will be for both INSAS and INSAS-WB. So the offer should be the last warrants price + RM 1.00 for mother share.

I would not thing Dato’ Sri Thong doesn’t have financial means to do MGO at this price. But the problems is once the board received the MGO offer from Dato’ Sri Thong the board need to engage third party independent adviser to do a valuation and advice the offer is fair and reasonable. It is forgone conclusion that the advice will be unfair and unreasonable and board need to concur to this advice.

The nightmare for Dato’ Sri Thong is the valuation will state INSAS listed subsidiaries holding cost and current market price and will conclude INSAS cash or cash equivalent worth RM3+ and if some corporate raider will to read the report and mount a hostile take-over then Dato’ Sri Thong will be a sitting duck as he is forbid by law to offer another MGO for the next 12 months from the dated the first offer declare fail.

Thank you

Posted by Sslee > 2019-01-12 09:16 | Report Abuse

Repost:Dear probability,
Posted by probability > Jan 11, 2019 12:05 PM
can anyone answer why Insas is buying Inari instead of its own shares?

The answer is because Dato’ Sri Thong and PAC together hold 32.96% just 0.04% short of the 33% threshold to trigger MGO. If INSAS buy back 1 million of its own share, it will trigger Dato’ Sri Thong to offer a conditional MGO.

Insas is in services industry with wholly owned and majority owned subsidiaries involve in: Money lending, Stock broking and provision of corporate finance and advisory services, high end retail, car rental, F&B, properties holding for rental income, Investment holding and trading. The biggest revenue comes from Investment holding and trading. With a war chest of RM 675 million in deposits, bank balance and cash, INSAS is spoiled for choice as of what stock to pick up.

Thank you

Posted by qqq3 > 2019-01-12 10:18 | Report Abuse

Revenue...most of the revenue is sales of shares...no kidding.

Posted by qqq3 > 2019-01-12 11:29 | Report Abuse

fundamental value of insas?

other than its Inari?....not worth talking..

cash? its needs to find $ 100 m soon to redeem those preference shares due........most of the cash are stock broking operations working capital.

Posted by qqq3 > 2019-01-12 11:31 | Report Abuse

do not forget the 200 million plus warrants.....shares of companies with huge warrants never do well. If share up, there is dilution, luckily this thing look like going to expire worthless.

Posted by qqq3 > 2019-01-12 11:34 | Report Abuse

other than dividends from Inari...what other reliable source of cash they have?

Posted by qqq3 > 2019-01-12 11:36 | Report Abuse

rubbish hunters think they find diamond....but most of the time, market is correct , rubbish hunters are wrong....just that u do not know u are wrong because u lack the skill set to analysis the thing properly.

Posted by stockraider > 2019-01-12 11:37 | Report Abuse

Dear all,

Insas is a truly a msian berkshire hathway it has shown growth good time & bad time just that msian don know how to evaluate mah...!!

Just look at the amazing growth track record of value creation of insas

Sept 2018- Nta rm 2.54

Dec 2017..Nta rm 2.49

Dec 2016 ...Nta Rm 2.18

Dec 2015..Nta Rm 1.96

Dec 2014..Nta rm 1.82

Dec 2013 nta..rm 1.71

Dec 2012 nta ..rm 1.51

Dec 2011 nta..rm 1.38

Dec 2010 nta...rm 1.22

Dec 2009 nta ..rm 1.14

Now if u look at the above over 10 yrs...insas has been creating value with growth every yr without fail with gain of rm 0.06 to rm 0.30 per yr without failed mah...!!

For the 10 yrs insas equity has grown from rm 1.14 to rm 2.54 per share an amazing rate of return growth exceeding exceeding 12% pa loh...!!

Now u tell me insas is a gruesome co with growth rate of 12% pa growth ?

And u tell me Ql is a superb growth co with it achieving a compound rate of only 8% pa ??

Something is wrong mah...!!

Insas is a great buy loh....even it is rm 0.705 bcos the fair value exceed rm 2.50 loh...!!
With cash holding of exceeding rm 0.70 u r in fact getting insas for almost free mah...!!
And insas has a compound growth rate of 12% pa over 10 yrs woh ...!!

Insas is a truly msian berkshire hathway stock loh...!!

Just buy loh....!!

Posted by StockKeeper > 2019-01-12 11:39 | Report Abuse

no need scare? holding 5 years still lost money. maybe need 50 years can return 1%

Posted by qqq3 > 2019-01-12 11:40 | Report Abuse

NTA $ 2.50...how do u unlock the value?

Posted by stockraider > 2019-01-12 11:41 | Report Abuse

raider how much u buy 5 yrs ago ???

Pls sell now loh....if u that unhappy mah...!!

Most insas shareholder are happy investor mah...!!

Posted by StockKeeper > Jan 12, 2019 11:39 AM | Report Abuse

no need scare? holding 5 years still lost money. maybe need 50 years can return 1%

Posted by qqq3 > 2019-01-12 11:42 | Report Abuse

major shareholder happy to sit on it.....nothing else in the empire generates reliable cash for them......look into their revenue account.

Posted by qqq3 > 2019-01-12 11:43 | Report Abuse

come back 10 years, still the same company, still the same share price.

Posted by i3lurker > 2019-01-12 11:50 | Report Abuse

Sure or not. Monday gap up to RM20.00 per share. What say you

Posted by stockraider > 2019-01-12 11:50 | Report Abuse

It is coming loh.....!!

The good rate of insas is growth with huge cash holding plus strong under valuation with very big margin of safety will attract predator loh...!!

Furthermore thong hold less than 33% mah...!!

When momentum start insas will explode...so don missed loh..!!


Posted by qqq3 > Jan 12, 2019 11:42 AM | Report Abuse

major shareholder happy to sit on it.....nothing else in the empire generates reliable cash for them......look into their revenue account.


qqq3
6978 posts
Posted by qqq3 > Jan 12, 2019 11:43 AM | Report Abuse

come back 10 years, still the same company, still the same share price.