Posted by Sslee > 2019-01-12 21:29 | Report Abuse

Dear all.
If you are so against securities trading why are you in i3investor? Just for passing time and talk cock or PLP with your aim of profit again and again. Believe me no one will fall into your trap again. Talk about share trading I think Dato’ Sri Thong is way ahead of icapital.biz Mr. TTB.

Refer page 107
11 ASSOCIATE COMPANIES:
Quoted shares in Malaysia, at cost: RM 164,559,000
Unquoted shares in Malaysia, at cost: RM 7,560,000
Unquoted shares outside Malaysia, at cost: RM 27,158,000
Group’s share of post acquisition:
- profits less losses: RM94,764,000
- reserves: RM 67,748,000
Total: RM 361,789,000
Less:-
Accumulated impairment loss
- unquoted shares: RM (4,161,000)
NET: RM 357,628,000
Market value of quoted shares in Malaysia: RM 1,376,569,000 (FYR 31/6/18). RM 885,148,000 (FYR 31/6/17)
Compare with: (43.67% Boilermech)

Thank you

Posted by qqq3 > 2019-01-12 21:29 | Report Abuse

your Thong is that Wallen Bufalo? dream on, raider......

Posted by stockraider > 2019-01-12 21:33 | Report Abuse

WHY RAIDER SAY U NEED TO CONSIDER INSAS & NOT MISSED OUT LEH ??

U CHECKLAH....IN 2013 NTA IS RM 1.71 THE SHARE PRICE WAS RM RM 0.45 LOH.....TODAY NTA RM 2.54 THE SHARE PRICE RM 0.705 LOH...VERY FAIR & NICE INVESTMENT PRICE LOH...!!

U sold for rm 1.00 in 2015 when NTA rm 1.96 and now nta is rm 2.54 u can easily target minimum rm 1.30 n above loh...!!

making 100% no issue loh...!!

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 qqq3 > 2019-01-12 21:42 | Report Abuse

that NTA increases not from trading....its from Inari.....

Posted by qqq3 > 2019-01-12 21:44 | Report Abuse

equity accounting of Inari....

Posted by stockraider > 2019-01-12 21:47 | Report Abuse

Again u tell that to warren buffet berkshire hathway loh...!!

Berkshire also samething like insas nta increase due to share investment mah....!!

Thats why raider says insas is msian berkshire hathway, which again proven true loh!.

Posted by qqq3 > Jan 12, 2019 09:42 PM | Report Abuse

that NTA increases not from trading....its from Inari.....

Posted by stockraider > 2019-01-12 21:57 | Report Abuse

IN OTHER WORDS INSAS LAGI VELI TERROR LOH...!!

Posted by TheContrarian > Jan 12, 2019 09:55 PM | Report Abuse

Inari EPS was only around 8 sen in year ended 30-6-18. It is IMPOSSIBLE to add anything significant to Insas NTA! Furthermore in equity accounting, dividends received from Inari would reduce Insas NTA.

Posted by qqq3 > 2019-01-12 22:00 | Report Abuse

so what is the intrisic value of Insas , raid?

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

Correction : in equity accounting, dividend received from Inari would reduce Insas cost of investment in Inari.

Posted by Sslee > 2019-01-12 22:02 | Report Abuse

Dear all,
No wonder somrone is fake accountant.
I already show page 107 on associate companies at book value of RM 357,628,000 which go into NTA. Imagine if include fair value gain on associate companies what will be the NTA.

Thank you

Posted by stockraider > 2019-01-12 22:02 | Report Abuse

INTRINSIC VALUE RM 2.54...HOW MANY TIME RAIDER NEED TO TELL U LEH ??

Posted by qqq3 > Jan 12, 2019 10:00 PM | Report Abuse

so what is the intrisic value of Insas , raid?

Posted by qqq3 > 2019-01-12 22:02 | Report Abuse

if they can promise u 2 sen a year....I say their intrisic value 50 sen for a yield of 4 %.....

Posted by qqq3 > 2019-01-12 22:03 | Report Abuse

if they can promise u 2 sen a year....I say their intrisic value 50 sen for a yield of 4 %.....

any thing above that.....u got to get a corporate raider and kill the company....its worth more dead than alive......

Posted by i3lurker > 2019-01-12 22:06 |

Post removed.Why?

Posted by stockraider > 2019-01-12 22:06 | Report Abuse

u NOT VERY PANLAI LOH...!!

AFTER PAYING DIV RM 0.02 ....THE INTRINSIC VALUE COME TO RM 2.52 LOH..!!

IF U TALK LIKE THAT VALUE AS U SAYS THEN QL SHOULD WORTH RM 2.00 ONLY LOH...NOT RM 6.80 MAH...!!


Posted by qqq3 > Jan 12, 2019 10:02 PM | Report Abuse

if they can promise u 2 sen a year....I say their intrisic value 50 sen for a yield of 4 %....

Posted by qqq3 > 2019-01-12 22:07 | Report Abuse

lurk...QL is a growing company....people trust the company......

Posted by qqq3 > 2019-01-12 22:10 | Report Abuse

QL is worth a lot more than its NTA because investors trust the company and trust the people behind it...Its worth a lot more alive than dead....

Insas on the other hand is worth more dead than alive.......

Posted by stockraider > 2019-01-12 22:10 | Report Abuse

BUT QL DIV PAY LIKE PONDAN LOH....!!

Posted by qqq3 > Jan 12, 2019 10:07 PM | Report Abuse

lurk...QL is a growing company....people trust the company......

Posted by i3lurker > 2019-01-12 22:13 |

Post removed.Why?

Posted by qqq3 > 2019-01-12 22:16 | Report Abuse

lurk...the auditor of QL says QL is at terminal stage meh?

Posted by 3101575000 > 2019-01-12 22:18 | Report Abuse

Wah! INSAS forum very hot !

Posted by i3lurker > 2019-01-12 22:18 |

Post removed.Why?

Posted by 3101575000 > 2019-01-12 22:19 | Report Abuse

Monday : up or down ???

Posted by stockraider > 2019-01-12 22:20 | Report Abuse

AUDITOR DID NOT SAY BUT RAIDER SAYS LOH...!!

INSAS WITH RM 2.54 NTA SHARE PRICE RM 0.705 ....SHARE PRICE DEFINITELY BETTER THAN QL AT RM 6.80 HALF DEAD TERMINAL VALUE, WITH ONLY CAN AFFORD TO PAY SYMBOLIC MISERABLE DIV OF LESS THAN 1% LOH...!!

Posted by qqq3 > Jan 12, 2019 10:16 PM | Report Abuse

lurk...the auditor of QL says QL is at terminal stage meh?

Posted by i3lurker > 2019-01-12 22:28 |

Post removed.Why?

Posted by stockraider > 2019-01-12 22:30 | Report Abuse

VERY IMPORTANT ADVICE FROM SIFU CALVIN LOH...!!

George Soros bet against the Thai bath and won during the Asian Financial Crisis.

George Soros also bet against the pound and won. In fact he was the one who broke the Bank of England, so to speak.

However, George Soros was not so lucky betting against Donald Trump. In fact this round with QE 1, QE 2, QE3 & so forth George Soros' luck seem to run out.

Why oh why?

BECAUSE THEY HAVE CHANGED THE RULES OF THE GAME BY ENDLESS QE & MONEY PRINTING.

This same happened to Jesse Livermore. When Dow collapsed on October 29th, 1929 - Jesse Livermore made a killing by shorting the Dow. He made the most money on that day of carnage while millions suffered.

But then it was downhill all the way for Jesse Livermore.

Why oh why?

BECAUSE THEY HAVE CHANGED THE RULE OF THE GAME THEN. AND JESSE LIVERMORE COULD NOT OPERATE AS USUAL. SO HE ENDED UP A PAUPER AND FINALLY COMMITTED SUICIDE.

So listen Friends,

Nothing is set in stone for life.

That's why the Divine Word from God still stand today

And Listen Carefully to these wise words again:

Ecclesiastes 11:2 ” Divide your investments into seven , or even to eight, for you do not know what misfortune may occur on the earth (NASB)”.


FURTHER COMMENTS ON 15TH NOVEMBER 2018

THE ADAGE; 'NEVER PUT ALL YOUR EGGS INTO A SINGLE BASKET' IS MORE URGENT NOW THAN BEFORE

NOTE:

1) DIVERSIFY INTO CASH, BOND, REAL ESTATE, GOLD & OIL PALM STOCKS NOW WHEN PRICES ARE AT ITS ALL TIME LOWS

2) DO NOT SPECULATE OR GO INTO MARGIN PLAY NOW. PARE DOWN DEBTS

3) KEEP TO HIGH DEFENSIVE, RECESSION PROOF STOCKS

4) LOOK FOR CASH RICH, DEBT FREE COMPANIES LIKE EKSONS WITH GOOD DIVIDENDS

5) KEEP A CASH BUFFER FOR UP TO 12 MONTHS EXPENSES NOW.

6) DO NOT SELL YOUR STOCKS IN PESSIMISM. STAY INVESTED EVEN IN BAD TIMES AS MARKET WILL ALWAYS RECOVER IF YOU HAVE HOLDING POWER

7) GOOD LUCK TO ALL DEAR FRIENDS/FOES/ FENCE SITTERS IN i3 FORUM

CALVIN LOVES YOU ALL

GOOD NIGHT

Calvin Tan from Jurong West, Singapore

Posted by i3lurker > 2019-01-12 22:30 |

Post removed.Why?

Posted by stockraider > 2019-01-12 22:33 |

Post removed.Why?

Posted by qqq3 > 2019-01-12 22:49 | Report Abuse

lurk

what is intrisic value of QL?

market says it is worth $ 10 billion....everyday got buyers and sellers...let them fight it out...time will tell.

what is intrisic value of Insas? well, its worth more dead than alive based on what we know......and since people cannot kill it off, I will say its intrisic value is 50 sen ........what is Insas anyway...? People trust that Thong or not?

I think markets and people like that one...at first they trust you.......but if after 20 years still disappoint them , they will not trust u already.......that leaves 50 sen as the intrisic value based on dividend model.....

Posted by stockraider > 2019-01-12 22:50 | Report Abuse

in conclusion insas is one of the best classic margin of safety u can find in real life loh....!!

1.It has Huge margin of safety with NTA rm 2.54 v share price rm 0.705.
2. It pays good div of rm 0.02 given div yield close to 3% pa slightly better yield than nestle loh...!!
3. It has nett cash of Rm 300 million giving it, cash per share of rm 0.70, in fact if u buy insas now at rm 0.705, u almost getting the whole insas for free loh..!!
4. Insas has unbroken 10 yrs track record of making profit between rm 0.06 to rm 0.30 per share.
5. it hass 10 yr compound rate of return of 12% pa growing its nta from rm 1.10 per share to rm 2.54 per share loh...!!
6. The business model of insas is like warren buffet berkshire hathway very impressive but unlike berkshire, it is minus the expensive share premium u need to pay in the case of berkshire loh..!!
7. Insas is really msian berkshire hathway loh....in simple term u may call it insas hathway loh....!!

Posted by qqq3 > 2019-01-12 22:56 | Report Abuse

since Insas is worth more dead than alive and u cannot kill it off, what is the intrisic value of Insas as an ongoing entity? 50 sen.....

Posted by i3lurker > 2019-01-12 22:58 |

Post removed.Why?

Posted by stockraider > 2019-01-12 23:00 | Report Abuse

if insas is dead should worth at least rm 2.54 to rm 3.00 loh...!!

if insas is alive it should worth above rm 1.30 loh....!!

Raider already explain mah....!!

Posted by qqq3 > Jan 12, 2019 10:56 PM | Report Abuse

since Insas is worth more dead than alive and u cannot kill it off, what is the intrisic value of Insas as an ongoing entity? 50 sen.....

Posted by Flintstones > 2019-01-12 23:03 | Report Abuse

Many has fallen into the trap of Insas. I remember KYY held Insas at one point and even he could not realized the true value in the underlying asset. Insas is sort of like the awakening. Once you wake up from the dream, you figure things out and become a stock market master.

Posted by qqq3 > 2019-01-12 23:04 | Report Abuse

Insas is not walen bufalo.....

Insas is like Yahoo. Nothing much left in Yahoo except its Alibaba shares. The BOD can decide to distribute the Alibaba shares....

can go ask Insas to distribute the Inari shares? take their lifeline away....

Posted by stockraider > 2019-01-12 23:08 | Report Abuse

u ask warren buffet to distribute coca cola can or not ??

Insas hathway is like berkshire hathway same same mah....!!

Insas will be rerated very soon loh....!!

Don miss this wonderful opportunity loh....!!

Insas has the positive points;
1.It has Huge margin of safety with NTA rm 2.54 v share price rm 0.705.
2. It pays good div of rm 0.02 given div yield close to 3% pa slightly better yield than nestle loh...!!
3. It has nett cash of Rm 300 million giving it, cash per share of rm 0.70, in fact if u buy insas now at rm 0.705, u almost getting the whole insas for free loh..!!
4. Insas has unbroken 10 yrs track record of making profit between rm 0.06 to rm 0.30 per share.
5. it hass 10 yr compound rate of return of 12% pa growing its nta from rm 1.10 per share to rm 2.54 per share loh...!!
6. The business model of insas is like warren buffet berkshire hathway very impressive but unlike berkshire, it is minus the expensive share premium u need to pay in the case of berkshire loh..!!
7. Insas is really msian berkshire hathway loh....in simple term u may call it insas hathway loh....!!


Posted by qqq3 > Jan 12, 2019 11:04 PM | Report Abuse

Insas is not walen bufalo.....

Insas is like Yahoo. Nothing much left in Yahoo except its Alibaba shares. The BOD can decide to distribute the Alibaba shares....

can go ask Insas to distribute the Inari shares? take their lifeline away....

Posted by i3lurker > 2019-01-12 23:10 |

Post removed.Why?

Posted by qqq3 > 2019-01-12 23:11 | Report Abuse

y Flintstones > Jan 12, 2019 11:03 PM | Report Abuse

Once you wake up from the dream, you figure things out and become a stock market master.

=======

agree....Insas is a test every beginner have to go through....

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

then let ss buy more la.....

Posted by stockraider > 2019-01-12 23:14 | Report Abuse

Insas is the best opportunity to make monies safely for the followers of Ben Graham intelligent investor loh....!!

If u listen to General Raider u can never be wrong loh...!!

Bcos raider also follower of Ben Graham mah...!!

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

y Flintstones > Jan 12, 2019 11:03 PM | Report Abuse

Once you wake up from the dream, you figure things out and become a stock market master.

=======

agree....Insas is a test every beginner have to go through...

Posted by 3iii > 2019-01-13 07:38 |

Post removed.Why?

Posted by VenFx > 2019-01-13 07:38 | Report Abuse

Shud ask our MOF heade by LGE launching take over insas, rebrand it another world class national investment vehicle like Temasik.

Posted by 10154899906070843 > 2019-01-13 08:11 | Report Abuse

Everyone keep saying that INSAS is worth this much and that much. But I only have 3 questions to be answered:

1. From 2009-2018 they declare net profit of 900 million, brilliant! what is the earnings from? What are they doing with the earnings? How are they expanding and growing the return of equity? How are they rewarding the shareholders? Oh wait I know the last part, 2% dividend or 42 million out of the 900 million earnings.

2. Shareholders are not being rewarded, and they are punishing INSAS stock with low valuation. Even sslee is only willing to buy more INSAS stock at rm0.5. can someone give me financial figures why the general public n even sslee and stockraider wants to punish own company? If INSAS is worth rm3, surely there is someone out there who is willing to pay rm1.5 for it. Why has this never happened in INSAS history?

3. What organic growth can you calculate INSAS doing that does not include inari earnings? Comparing Berkshire to INSAS is insanity because they buy good businesses almost one every year or so. INSAS got lucky one time.

Why are you guys enjoying buying mutual funds? If you like inari just buy it. If you bought inari in 2016, you would have tripled your money before the crash. If you bought a mutual fund like INSAS that helps you invest in car rentals and vigcash and loss making clothes, and lousy dome coffee where you don't have any control over buying or selling of inari shares to profit you deserve every cent you lose.

Here is my finalized long game on INSAS:

5-10 years from now, INSAS is going to spend your 900m earnings in investing in a newfangled business ( let's say self driving car rental business) that will flame out spectacularly.

I say this because I can't find anything in INSAS that I would buy for the long term other than it's holdings in inari.

It doesn't grow it's business, it buys the wrong businesses at the wrong time, and time will prove if holding on to inari shares for the long term will be a fruitful endeavor.

And for sslee comparison of QL vs INSAS? I prefer buying a income producing farm ANYDAY compared to buying a piece of undeveloped land. Your idea of nta is beyond shallow. Inari shares are worth nothing unless sold for cash and dividends. If this year there is a correction of tech stocks ( and Apple has already guided to a decline in the next few quarters), you could lose 50% of your value in inari.

Without being able to do anything about it.

Me? I still have my farm.

I'd pay a premium for that.

Posted by Sslee > 2019-01-13 08:14 | Report Abuse

Dear 3iii,
Posted by 3iii > Jan 13, 2019 07:38 AM | Report Abuse
Conclusions:
“Insas is a terrible company in allocating its capital when compared with BERKSHIRE HATHAWAY.
Shareholders of Insas should agitate for more distribution of its earnings given the poor return on retained earnings.”

Thank you for your accurate conclusion. I am reluctant to recommend insas even to my siblings despite I seeing great value in Insas because Insas was called value trap for a reason as per your conclude above. As a shareholder I attended the 2017 AGM and despite my appeal and agitation of attendees for reasonable dividend during the AGM, Dato’ Sri Thong remain non-committing. But I follow up with email and my prepared questions for year 2018 AGM implying that it is for Dato’ Sri Thong own good to distribute the wealth to all shareholder because if you don’t one day a shark will make a hostile take-over of insas for the wealth you work so long and hard in accumulating into insas. I believe it work and next year I am going to follow up on Year 2018 AGM minutes:

“ The Board has taken note of the shareholders’ comments and will look into formulating a formal dividend policy depending how market recovers in the next nine(9) months. The Company has via an announcement on 26 November 2018 increased the interim dividend payment from 1 sen to 2 sen in respect of the financial year ending 30 June 2019.””

Thank you

Posted by 3iii > 2019-01-13 08:21 | Report Abuse

What have they done with the retained earnings?

Recalling a company that retained a lot of cash and the shareholders poorly rewarded. Eventually, the major shareholder of the company took it private. That was Yun Kong.

Posted by 3iii > 2019-01-13 08:33 |

Post removed.Why?

Posted by super_investor > 2019-01-13 08:49 | Report Abuse

Insas main business is selling inari shares. The rest is irrelevant.

Posted by 3iii > 2019-01-13 08:55 | Report Abuse

>>>

3. What organic growth can you calculate INSAS doing that does not include inari earnings? Comparing Berkshire to INSAS is insanity because they buy good businesses almost one every year or so. INSAS got lucky one time.

>>>



Everyone knows the differences between Insas and BH.

Did I not mention repeatedly the doubtful integrity of my friend, the raider?

Posted by Sslee > 2019-01-13 09:39 | Report Abuse

Dear 3iii,
Be fair, rational and critical:
Let’s Examine INSAS last year income:
1. Dividend received: RM 49,590,000 (Inari contribute: RM 40,147,000). So how much dividend will be FYR 2019.
2. ICL interest received RM 23 million. Net profit weight down by Fair value losses on securities hold by ICL
3. M&A securities: Net profit RM 10 million
4. Property Investment & development mainly rental income: RM 11 million (Reversal of share of losses on an associated company)
5. Retail and car rental: Losses of RM 3 million
6. Investment holding and trading after adjust for fair value gain and losses: Net profit RM 3 million.
7. Process from disposal of mainly Inari: RM 57,454,000(Cash flow). You can work out what is the net profit with their holding cost on Inari
Note: Technology and IT related services
The technology segment reported direct revenue of RM18.9 million in FY 2018, Pre-tax profit RM77.5 million in FY 2018, primarily contributed by dividend received from Inari and gain on disposal of Inari shares. By the way the development cost and P/L Numoni financial technology (42.6%), Sengenics is a functional proteomics company (17.4%) is charge to this division.

So be fair and give credit where credit is due. I thank the board of INSAS for growing wealth into INSAS.

Thank you.

Posted by super_investor > 2019-01-13 10:45 | Report Abuse

insas need to sell more inari shares to keep up with last year profit. the more it sell shares, the less future profit from inari it can book in.