Posted by 3iii > 2019-01-12 12:32 | Report Abuse

Today Insas is 70.5 sen
Raider has been in Insas for > 8 years. (?)

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

Inari share price drop...affect Insas NTA or not?

Posted by qqq3 > 2019-01-12 12:39 | Report Abuse

answer is no

Posted by probability > 2019-01-12 12:44 | Report Abuse

ok, its still valued at their purchase price

Posted by Sslee > 2019-01-12 12:48 | Report Abuse

Dear all,
If you want to know what is the intrinsic value of INSAS base on DCF of Sum (assets + future earning). You can refer to:
https://klse.i3investor.com/blogs/Sslee_blog/189654.jsp

The only uncertainty is the investment holding and trading of quoted share. Will it make big gain or losses? But again with current war chest of RM 675 million in deposits, bank balance and cash and at current market where many value/growth stocks are at beaten down market price. The question is can INSAS with its resource of research analysts available can you perform better than INSAS in term of picking up winner stocks?

Thank you

Posted by 3iii > 2019-01-12 12:50 | Report Abuse

Have been singing the same song for so many years!!! Leno and Raider!

Posted by Sslee > 2019-01-12 13:52 | Report Abuse

Dear 3iii,
I bought my first INSAS share on 31/1/2017 at RM 0.775 and in between I take profit when price reach above RM1 .00. Currently INSAS is about 33% of my portfolio. The other for dividend stocks are: CSCSTEL, TAE, TAGB and etc. I do allocate a certain % for trading and last year I make trading profit from steel counter (holding some book losses now) and this year already registered book gain on: Ancom, Eatech, Ekovest, Hibiscs, Jitiasa, Ksl, Malton and VS.

I do miss leno, where are you now leno?
Posted by leno > Jul 25, 2018 10:22 AM | Report Abuse
RM 1 ? Fak u ! RM 3 RINGGIT ! RM 3 RINGGIT ! INSAS CANTEEEEEEEEEEEEEEEEKKK !!!
Hope leno is well,

As for me I attended AGM, demand accountability, transparency and appeal to the board for reasonable dividend as INSAS can afford it easily. I seek meeting with board and was grant a personal meeting with Dato’ Wong.

Thank you

Posted by i3lurker > 2019-01-12 14:06 | Report Abuse

dun try to change the market

let the market decide loh

Posted by qqq44 > Jan 12, 2019 12:51 PM | Report Abuse
Monday drop below 70 sen.

Posted by mani_cum > 2019-01-12 14:09 | Report Abuse

What logic is that? Those dun belief just stay away, can see see Look look. Small holder is an idiot if cut lost or sell at current low price.

Selling pressure minimized. And chart tell , it's up up away coming foward. Cheers

Posted by ivan9511 > 2019-01-12 14:30 | Report Abuse

insas comfirm limit uppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppp

Posted by 10154899906070843 > 2019-01-12 16:23 | Report Abuse

Interesting points.

Fair value of INSAS is rm3?

So in a nutshell, assuming they have the warchest, current management will not pay fair value for INSAS. And big activist investors will also not pay fair value for INSAS. So it comes down to how much below fair value investors are willing to sell for INSAS right now?

However,

If share price goes up too high, many investors will cash in the warrants to convert to shares, introducing dilution and bringing the share price down again.

They have 687 million in cash but they haven't gotten around to either spending it on a good m&a target or giving it out to the longtime suffering shareholders. So since their other investments are not producing tangible results, they pump in more money into inari shares because they can't do share buybacks.
<<< Does money in other people's bank help to feed stockraider at night?

Retail shareholders come here from inari, so any surprises with inari will directly impact INSAS performance, even if management of inari is a separate party. <<< INSAS shareholders to pay for inari mistakes? But they can't enjoy inari benefits?

The share price of INSAS has been rangebound at rm1, so retail investors are reflexively thought to sell some shares when it goes above rm1, due to warrant consideration and management guidance from their revenue and profit generation. <<< Raise your hand anyone who start thinking of selling INSAS shares the moment it goes beyond rm1.5. And you call yourselves shareholders. Shame on you. NTA is 3.

All in all, the retail investor, current management and fund managers all do not want to pay rm3 for INSAS, as they do not believe in the future of INSAS 5-10 years from now to find another inari. Even though they believe the nta value of INSAS is worth rm3.

So the main question is, how much discounts are you willing to sell for me to take INSAS off your hands?

If everyone is willing to let go of INSAS at rm1.5 to rm2,

Then using the nta value of rm3 is useful only as a guide.

If even the current management biggest shareholder is not willing to pay rm2 to buy your shares from you, and if you know 5 years from now you will never get more than nta for INSAS (there will always be a discount to value for management)

Wouldn't this be the very definition of a value trap?

Just some thoughts as ttb icap.biz also runs the same operation, just using nta as a valuation point, without looking at ROE and business performance.

Posted by qqq3 > 2019-01-12 16:31 | Report Abuse

same problem faced by City of London in Icap...

but City f London got exit route....Icap may be terminated soon...

Insas is in perpetuity....no way for minorities to enjoy the discount.

Posted by qqq3 > 2019-01-12 16:32 | Report Abuse

sslee

understand the revenue account and cashflows then talk...even management has no choice.

Posted by qqq3 > 2019-01-12 16:33 | Report Abuse

market priced it correctly or wrong?

to me market has priced it just right

Posted by TheContrarian > 2019-01-12 16:46 | Report Abuse

Datuk Seri Thong wouldn't live forever.

Posted by qqq3 > 2019-01-12 16:59 | Report Abuse

I think Insas is a good test on true understanding of stock market....

put on the strategic management cap....put your self in the shoes of the directors.......

Posted by 10154899906070843 > 2019-01-12 17:01 | Report Abuse

In essence this is a perang tiga penjuru between acheh, melaka and Portugal. Portugal wants to take melaka straits, but they know without melaka support they can't do it. Melaka currently controls the straits, but they don't dare expand because parameswara just died and the new King is an idiot who can't grow the Port. And acheh, they just want to be rich so they dip into the straits of melaka, not knowing they have to stay on the other side of the sea, and can't go to rich people corner.

Posted by qqq3 > 2019-01-12 17:06 | Report Abuse

the bulk of the revenue account is the buying and selling of shares......nothing much left for them to do....

Posted by qqq3 > 2019-01-12 17:08 | Report Abuse

people think they have a lot of cash, they don't....the cash is work broking house working capital

Posted by qqq3 > 2019-01-12 17:09 | Report Abuse

they have to find $ 130 million soon to redeem the preference shares.

Posted by 10154899906070843 > 2019-01-12 17:11 | Report Abuse

Yes, datuk seri thong won't live forever. But when new management is telling you they are not buying INSAS shares, and they tell you they will not be buying INSAS shares in the future...

What are you doing buying INSAS shares?

Posted by lizi > 2019-01-12 17:15 | Report Abuse

I like below illustration of value trap....

------------------------------------------------------------

So the main question is, how much discounts are you willing to sell for me to take INSAS off your hands?

If everyone is willing to let go of INSAS at rm1.5 to rm2,

Then using the nta value of rm3 is useful only as a guide.

If even the current management biggest shareholder is not willing to pay rm2 to buy your shares from you, and if you know 5 years from now you will never get more than nta for INSAS (there will always be a discount to value for management)

Wouldn't this be the very definition of a value trap?

Posted by qqq3 > 2019-01-12 17:16 | Report Abuse

U want Insas to do share buy back?

Directors will ask u u think they stupid?

Posted by KLCI Going Heaven > 2019-01-12 17:18 | Report Abuse

fark off lah qqq3 you ni soh@i cib@i betul

Posted by jellyfish > 2019-01-12 17:19 | Report Abuse

Haters make Insas popular. , this quiet forum suddenly come alive..

Posted by qqq3 > 2019-01-12 17:22 | Report Abuse

y KLCI Going Heaven > Jan 12, 2019 05:18 PM | Report Abuse

fark off lah qqq3 you ni soh@i cib@i betul
==========

me ?

i know this is usual beginner trap.....u think this is wall street? got arbitragers and wolf of wall street to help u push up share price?

help u to kill off and break up Insas?

Posted by qqq3 > 2019-01-12 17:23 | Report Abuse

do asset stripping ah?

Posted by jellyfish > 2019-01-12 17:32 | Report Abuse

Haters, please dont stop posting, .. like to see whether can push price to 60sen or 50sen..

Posted by qqq3 > 2019-01-12 17:33 | Report Abuse

not hate...just mocking idiots.

Posted by 10154899906070843 > 2019-01-12 17:41 | Report Abuse

I don't think so jellyfish, since the nta is worth rm3, definitely tan Sri halim will purchase rm3 for it one day.

Never mind business performance, ROE or organic growth.

It is worth nta3, never mind that you will be paying 1.8 billion for a company that does nothing, grows nothing and builds nothing long term.

Posted by jellyfish > 2019-01-12 17:46 | Report Abuse

they dont need to produce anything, just goreng shares only , believe me , goreng shares in bursa makes more money than selling chickens

Posted by lizi > 2019-01-12 17:47 | Report Abuse

gameplan for insas is buy when below it is penny, wait for their luck when it being push up to RM1....nothing wrong....ang pow for cny?

Posted by jellyfish > 2019-01-12 17:48 | Report Abuse

wall street make more money than main street

Posted by lizi > 2019-01-12 17:52 | Report Abuse

cannot go to rm1, 90 sen pun jadilah....

Posted by qqq3 > 2019-01-12 17:55 | Report Abuse

u want Insas to do share backs?

they will say cash is King.....

Posted by qqq3 > 2019-01-12 17:59 | Report Abuse

people think they have a lot of cash, they don't....the cash is for broking house working capital

Posted by Sslee > 2019-01-12 18:27 | Report Abuse

Dear all,
A value trap is a million times better than a pit fall/mouse trap set up by PLP king/manipulator/rich holders (Just need one bad Q result to cause the house of card to collapse) because if you fall into one and chase high it will kill you.

For INSAS just look into the NTA growth and projected it into next 10 years what will be the NTA (Liquid NTA) and not some Farm building, Boat, Plant, Machinery, Vehicle, Fitting, Work in progress and etc: RM 1,162,075,000 which make up majority of their NTA

INSAS-PA and INSAS-WB major holder is still Dato’ Sri Thong and will due and expired on FEB 2020. If he converts the Warrants it will trigger MGO if he does not. I am fine then I can hold long term. I will be watching this date closely and plan my next move and meanwhile I am satisfied with the dividend. I add more when INSAS was trading at it low.

Thank you

Posted by Sslee > 2019-01-12 18:38 | Report Abuse

Dear all,
Refer financial report YR 2018 page 117:
Dealer’s representatives’ deposits and clients’ trust monies received of RM81,667,000 (2017: RM106,394,000) are excluded from deposits with licensed banks and financial institutions of the Group in accordance with Financial Reporting Standards Implementation Committee Consensus 18: Monies Held in Trust by Participating Organisations of Bursa Malaysia Securities Berhad.

The effective interest rate for deposits with licensed banks and financial institutions of the Group and of the Company range from 0.005% to 4.04% (2017: 0.01% to 4.50%) and 2.55% to 2.80% (2017: 2.55%) per annum respectively.

Thank you

Posted by Sslee > 2019-01-12 19:29 | Report Abuse

Dear all.
By the way total receivable: RM 376,481.000 majority is INSAS Credit & Leasing Sdn Bhd: RM 235,701,000 secured money lending given to client.
The interest rate charged by ICL is in accordance with the Money lending Act, which is not more than 12% p.a. for secured loans and not more than 18% p.a. for unsecured loans. The total interest income earned by ICL from the money lending business for FY2018 is RM23.0 million. The rest is securities trade settlement by M&A Securities.
Compare to “they are providing interest free loans to fishermen to buy or lease boats and equipment with the only requirement being that all catches to be sold QL first.” If Malaysia registered fishing boats are caught fishing in Indonesia water they can kiss their boats goodbye.

Thank you

Posted by qqq3 > 2019-01-12 19:55 | Report Abuse

ss

its obvious long number is old hand and ss is beginner...that is obvious from every post. It makes sense that one beginner will lead into another to value traps...stock market has been like for decades......

I say enough of the value traps, of the mismanaged, lousy companies and penny stocks....mostly people will be trapped there for decades....ten years no change.


The function of the stock market is for people to participate in the growth of companies, well managed companies, responsible companies. That is how stock markets makes a lot of people a lot of money.

Of course quality never come cheap, pay peanuts gets monkeys.


Look at this i3 ...dominated by monkeys and people buying and selling value traps and lousy companies. I think long number is a breathe of fresh air...what the doctor ordered for i3......

Posted by mani_cum > 2019-01-12 20:06 | Report Abuse

All better listen to monkey king advice . Lol

Posted by qqq3 > 2019-01-12 20:24 | Report Abuse

for a proper understanding of Insas . look at the composition of the revenue account. The bulk of annual revenue is the buying and selling of shares....no kidding....the rest of the revenue are just directors' perks ( toys).


and the only reliable source of cash flows? Dividends from Inari....U want them to sell Inari too to realise their NTA? U kidding?

Posted by stockraider > 2019-01-12 20:39 | Report Abuse

Rubbish fake accountant this qqq loh...!!

Insas main business are stockbroking, money lending, corporate advisory mah...!!

Surely this type of this revenue....give good gross margin mah...!!

Posted by qqq3 > Jan 12, 2019 08:24 PM | Report Abuse

for a proper understanding of Insas . look at the composition of the revenue account. The bulk of annual revenue is the buying and selling of shares....no kidding....the rest of the revenue are just directors' perks ( toys).


and the only reliable source of cash flows? Dividends from Inari....U want them to sell Inari too to realise their NTA? U kidding?

Posted by qqq3 > 2019-01-12 20:40 | Report Abuse

raider...go and look at their revenue account composition.....go, do it now.....

Posted by i3lurker > 2019-01-12 20:52 |

Post removed.Why?

Posted by stockraider > 2019-01-12 21:01 | Report Abuse

U what waste time on conman stock like Revenue leh ??

U look at insas true or not mah...!!
It is true insas is real with about rm 200m a year turnover mah...!!
Very comfortable income mah....!!

So u cheer....cheer ....insas...go...go...go...loh...!!

Posted by qqq3 > Jan 12, 2019 08:40 PM | Report Abuse

raider...go and look at their revenue account composition.....go, do it now.....

Posted by stockraider > 2019-01-12 21:13 | Report Abuse

Rubiish loh....this 3iii...raider & leno bought tonnes of insas at around rm 0.40 to rm 0.45 2012 to 2013 and sold it around rm 1.00 mah....in 2014/2015 loh...!!

where got hold so long leh ??

Already make 100% within less than 2 yrs loh...!!

Raider bought back rm 0.67 to rm 0.685 in 2019 loh...!!

This is power of margin of safety investment, always make money safely & steady mah...!!

Posted by 3iii > Jan 12, 2019 12:32 PM | Report Abuse

Today Insas is 70.5 sen
Raider has been in Insas for > 8 years. (?)

Posted by qqq3 > 2019-01-12 21:20 | Report Abuse

raider

Sale of financial assets at fair value through
profit or loss and other financial instruments...that makes up $ 200 m out of $ 350 million revenue for year ended 2018....or 60%.....

such an active trader.....pity they don't push up Insas.....or they did and failed?

Posted by stockraider > 2019-01-12 21:25 | Report Abuse

U TELL THAT TO WARREN BUFFET BERKSHIRE HATHWAY LOH...LIKE THIS LOH...!!

THIS BERKSHIRE HATHWAY HAVE SAMETHING LIKE INSAS ALSO MAH...!!

THATS WHY RAIDER SAY INSAS IS LIKE MSIAN BERKSHIRE HATHWAY LOH...IS TRUE LOH....RAIDER NO JOKE U LOH....!! IT IS CORRECT LOH....IT IS LIKE THIS MAH.....!!

Posted by qqq3 > Jan 12, 2019 09:20 PM | Report Abuse

raider

Sale of financial assets at fair value through
profit or loss and other financial instruments...that makes up $ 200 m out of $ 350 million revenue for year ended 2018....or 60%.....

such an active trader.....pity they don't push up Insas.....or they did and failed?

Posted by KLCI Going Heaven > 2019-01-12 21:28 | Report Abuse

still not habis yet ahhh