Posted by 10154899906070843 > 2019-01-13 12:53 | Report Abuse

My belief had always been if you want to sell a share, use it to buy a better one. INSAS sells inari shares for no other purpose than to book a profit. Where does the earnings go to?

1. Buy more cars for rental?
2. Buy more brands for retail?
3. Buy more fintech?
4. Sengemics? Really, if you were a biotech firm, would you open in Singapore or in a forgotten, talentless country like Brunei? Spending USD 11m in Brunei is pointless. Might as well open a DNA sequencing firm in miri. It's cheaper, uses myr and has the same resources as Brunei. Which is nothing.
5. Numoni? Really? Have you ever used numoni payment app before ? I have. I continually wonder who invests in companies like these.

If you want credit where credit is due, let me introduce you to a company named NQ mobile ( note is link-motion). It is a company with 600 million USD in cash. Look at the share price. Look at the parallels between its company focus, products and cashflow.

Real cashflow, not selling of shares to generate income.

Posted by qqq3 > 2019-01-13 13:01 | Report Abuse

super_investor > Jan 13, 2019 08:49 AM | Report Abuse

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

that is what I call true understanding....all the data provided by ss is irrelevant.

Posted by 3iii > 2019-01-13 13:06 |

Post removed.Why?

Posted by 10154899906070843 > 2019-01-13 13:14 | Report Abuse

Well said. When a stock is cheap, look for the reason a stock is cheap.

If a stock is cheap for a temporary reason, then it becomes value investing.

If a stock is cheap for a permanent reason, then it becomes a value trap.

When you look at the situation if INSAS, you come to the question:

When can I reasonably expect the temporary undervaluation of INSAS to be resolved to it's proper price?

If your answer is I don't know when it will resolve, how it who will resolve it, or why would they?

Then you are better off not owning INSAS.

Posted by qqq3 > 2019-01-13 13:25 | Report Abuse

alll the old hands know sslee s a rookie in investment world....but rookie will lead other rookies to Insas.....that is very normal....

I believe rookies may even thank SSlee...for the time being.

that is the nature of stock market.......

Posted by qqq3 > 2019-01-13 13:26 | Report Abuse

that is the nature of stock market.......looks so simple on the surface.....

Posted by qqq3 > 2019-01-13 13:30 | Report Abuse

just like Xinguan...another rookie trap.

too bad, KYY , an old hand also falls into rookie trap.....old hand also make mistakes one...to err is human.

Posted by 10154899906070843 > 2019-01-13 13:38 | Report Abuse

Everyone makes mistakes, but it is those who fall in love with their stock that refuses to hear outside advice.

Even I am not in love with my QL, every quarter I look at the financial report and make my decision. If it remains the same I buy. If it doesn't, I review.

Believe me, the moment the story changes, you need to be aware enough and nimble enough to sell.

INSAS is a stock which has never changed its story, 5 years ago, same today, pretty much same story 5 years from now.

Management will not buy back stock, is barely giving a dividend, financing it by selling inari shares.

What do you have to look forward to?

Posted by i3lurker > 2019-01-13 13:38 | Report Abuse

you just plp KYY and I expect will continue to plp him until either you or he dies.

he is still a rookie today, and most probably will still be a rookie tomorrow. Difference is he had studied a few counters which made money; past success repeated ad nauseam. He is saying that his past success is a Guarantee of future success. Obviously, he is calling SC a liar.

He has the money to boost up his rookie selections only

Posted by qqq3 > 2019-01-13 13:50 | Report Abuse

by i3lurker > Jan 13, 2019 01:38 PM | Report Abuse

He has the money to boost up his rookie selections only
===============

Kyy says he got good instincts....instincts, guts and money power makes a lot of difference.......

Posted by qqq3 > 2019-01-13 13:51 | Report Abuse

Yahoo can distribute Alibaba shares.
Can one imagine Insas distribute Inari shares?

There are lots of differences between the real world of the Bursa....and book knowledge from reading Wall Street soft covers......

Posted by i3lurker > 2019-01-13 13:53 | Report Abuse

I would say "money power" ONLY

where were his instincts for Xinqguan?

Posted by i3lurker > 2019-01-13 14:03 | Report Abuse

publicity. If he buys like petgas, harta, topglove; no one will even glance at him.

as it is all of you made a fool of yourself here; he is laughing.

/////What do you have to look forward to?////

Posted by stockraider > 2019-01-13 14:48 | Report Abuse

LETS BE HONEST LOH....!!

HOW COULD INSAS HATHWAY BEING TERRIBLE WHEN HE GROW THE SHAREHOLDER EQUITY VALUE BY COMPOUND RATE OF 12% PA FOR THE PAST 10 YRS FROM RM 1.10 PER SHARE TO RM 2.54 PER SHARE LEH ??
IN ADDITION IF U CHECK FAMOUS BERKSHIRE HATHWAY IT ALSO BEEN GROWING AT THIS TYPE OF RATE....NOTHING SPECIAL MAH...!!

THE OTHER ISSUE OF INSAS IS THAT ITS LOW DIVIDEND PAYOUT DESPITE HUGE RETAINED EARNINGS, IN WHICH GENERAL RAIDER ALSO AGREE LOH..!!
HOWEVER THIS ISSUE HAS BEEN IN A WAY ADDRESS WHEN INSAS PAYS RM 0.02 DIV EQUIVALENT TO SLIGHTLY BELOW 3% PA YIELD BASED ON SHARE PRICE OF RM 0.675 LOH...!! THIS YIELD IS COMPARABLE & SLIGHTLY BETTER THAN NESTLE DIVIDEND YIELD LOH...!!
PUT IT THIS WAY INSAS HATHWAY HAS A 3% DIVIDEND YIELD PA WHEREAS BERKSHIRE HATHWAY DON PAY ANYTHING, IN A WAY INSAS SCORE BETTER THAN BERKSHIRE IN THIS AREA MAH....!!


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 3iii > Jan 13, 2019 07:38 AM | Report Abuse

INSAS


NET PROFIT (,000)

90,369 [2018]
180,511
77,973
92,483
160,684
64,468
10,699
102,365
60,893
57,097 [2009]

Total earnings from 2009 to 2018 = 897,542,000


Dividends (,000)

6,630 [2018]
6,630
6,631
6,635
6,655
8,831 [2013]
-
-
-
- [2009]

Total dividends distributed from 2009 to 2018 = 42,011,000

Total Retained Earnings from 2009 to 2018 = 855,531,000


From years 2009 to 2018:

Incremental growth in earnings 33.272 m
Retained earnings 855.531 m
Returns on retained earnings 3.89%.


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.

Posted by stockraider > 2019-01-13 14:53 |

Post removed.Why?

Posted by stockraider > 2019-01-13 14:59 | Report Abuse

SSLEE,

U R RIGHT LOH....INSAS IS GROWING STRONGLY MAH....ONLY THOSE PEOPLE DO NOT UNDERSTAND BERKSHIRE HATHWAY BUSINESS MODEL ARE SAYING INSAS HATHWAY BUSINESS MODEL ARE LOUSY LOH...!!
BUT INSAS BUSINESS MODEL ARE SAME SAME MAH, IN FACT INSAS GENERATE COMPOUND EARNINGS OF 12% PA SAME SAME AS BERKSHIRE WOH..!!...HOW COULD BE BERKSHIRE VERY GOOD & INSAS VERY BAD LEH ??

Posted by Sslee > Jan 13, 2019 09:39 AM | 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 stockraider > 2019-01-13 15:06 | Report Abuse

RAIDER AGREE SHARE IS CHEAP FOR A REASON LOH...!!

BUT U MUST THEN ASK THE NEXT VERY INTELLIGENT QUESTION, IS IT CHEAP FOR THE RIGHT REASON OR CHEAP FOR THE WRONG REASON MAH.??..!!

IF IT IS CHEAP FOR THE WRONG REASON U MUST BUY LOH....BCOS PEOPLE DON UNDERSTAND THE BIG MARGIN OF SAFETY THERE LOH....SO WE MUST BUY BIG BIG IN FACT VERY BIG LOH...!!

IN A WAY INSAS HATHWAY CURRENT SHARE PRICE AT RM 0.705 IS A VERY BIG OPPORTUNITY MAH...!!

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 10154899906070843 > Jan 13, 2019 01:14 PM | Report Abuse

Well said. When a stock is cheap, look for the reason a stock is cheap.

If a stock is cheap for a temporary reason, then it becomes value investing.

If a stock is cheap for a permanent reason, then it becomes a value trap.

When you look at the situation if INSAS, you come to the question:

When can I reasonably expect the temporary undervaluation of INSAS to be resolved to it's proper price?

If your answer is I don't know when it will resolve, how it who will resolve it, or why would they?

Then you are better off not owning INSAS.

Posted by dunspace > 2019-01-13 15:13 | Report Abuse

Why keep saying SSLEE is a rookie? You do not need to put down someone to make your point. This is an obvious difference in investing philosophy between SSLEE and the 2 of you. I get that both of you are looking at "what are the potential catalyst or what are the profits generator" type of style of investing, if so, no one is recommending you to buy Insas on those accounts.

Foresight in an investing company is tremendously hard. Before Inari became so successful, who was heavily invested in it? It was Insas, I am betting that during that time when Inari was a nobody, a bunch of investors like you was also taking a shit on Insas for having nothing to look forward to, no catalyst, a dead business model. But, how wrong could you be?


Back to the present moment, what could be Insas potential next "Inari"? Well,if we all knew that, we would just had invested in "Inari" in the very first place. Sadly, not everyone knew Inari could become what it is today but the Insas management did. If you are very confident in your investing skills and believe that your yearly returns are easily better than Insas, then obviously Insas is not a smart investment for you. Throughout the years, Insas has made a lot of bad investments calls, you can bring all of it up but in aggregate, the balance sheet tells a different story.


Sadly, I could not foresee the growth in Inari but luckily Insas did.


Side note: SSLEE, thank you for your effort in pushing for a dividend policy, I believe with a proper dividend policy, Insas will be a very steady counter and attract more investors with a lower risk appetite.

Posted by stockraider > 2019-01-13 15:17 | Report Abuse

DEAR Sslee,

General Raider as a friend n your allies would like to correct your lack of confidence and your humble thoughts in respect of Insas loh..!!

Why must u reluctant to recommend the INSAS hathway gem to your sibling leh ??
In fact u should feel proud...very proud n not ashame to recommend insas hidden gem to anybody.

General Raider is very proud of insas n has started recommended to friends, relatives, i3 readers and the whole Pudu market bcos raider know insas will make good monies loh...!!

Remember this fundamental loh...!!

RAIDER AGREE SHARE IS CHEAP FOR A REASON LOH...!!

BUT U MUST THEN ASK THE NEXT VERY INTELLIGENT QUESTION, IS IT CHEAP FOR THE RIGHT REASON OR CHEAP FOR THE WRONG REASON MAH.??..!!

IF IT IS CHEAP FOR THE WRONG REASON U MUST BUY LOH....BCOS PEOPLE DON UNDERSTAND THE BIG MARGIN OF SAFETY THERE LOH....SO WE MUST BUY BIG BIG IN FACT VERY BIG LOH...!!

IN A WAY INSAS HATHWAY CURRENT SHARE PRICE AT RM 0.705 IS A VERY BIG OPPORTUNITY MAH...!!

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 Sslee > Jan 13, 2019 08:14 AM | 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 stockraider > 2019-01-13 15:26 | Report Abuse

Another smart comment of i3 investor loh...!!

This mean the retail investor of i3 got hope loh....!!

Inari is a very important investment of INSAS loh....!!

In fact inari importance to insas hathway is like the coca cola importance to berkshire hathway loh...!!

There again u spot similiarity of INSAS & Berkshire leh ??

The ability of insas to buy into inari reflect the investment ability, as an equivalent ability to berkshire to buy into blockbuster company loh...!!

Posted by dunspace > Jan 13, 2019 03:13 PM | Report Abuse

Why keep saying SSLEE is a rookie? You do not need to put down someone to make your point. This is an obvious difference in investing philosophy between SSLEE and the 2 of you. I get that both of you are looking at "what are the potential catalyst or what are the profits generator" type of style of investing, if so, no one is recommending you to buy Insas on those accounts.

Foresight in an investing company is tremendously hard. Before Inari became so successful, who was heavily invested in it? It was Insas, I am betting that during that time when Inari was a nobody, a bunch of investors like you was also taking a shit on Insas for having nothing to look forward to, no catalyst, a dead business model. But, how wrong could you be?


Back to the present moment, what could be Insas potential next "Inari"? Well,if we all knew that, we would just had invested in "Inari" in the very first place. Sadly, not everyone knew Inari could become what it is today but the Insas management did. If you are very confident in your investing skills and believe that your yearly returns are easily better than Insas, then obviously Insas is not a smart investment for you. Throughout the years, Insas has made a lot of bad investments calls, you can bring all of it up but in aggregate, the balance sheet tells a different story.


Sadly, I could not foresee the growth in Inari but luckily Insas did.


Side note: SSLEE, thank you for your effort in pushing for a dividend policy, I believe with a proper dividend policy, Insas will be a very steady counter and attract more investors with a lower risk appetite.

Posted by qqq3 > 2019-01-13 15:29 | Report Abuse

y dunspace > Jan 13, 2019 03:13 PM | Report Abuse

Why keep saying SSLEE is a rookie?

====

rookie,,,I don't mean Insas is rookie....but SS lee is rookie.....

Posted by i3lurker > 2019-01-13 15:31 |

Post removed.Why?

Posted by stockraider > 2019-01-13 15:32 | Report Abuse

Even sslee is a Rookie....he is a "AAA" rookie loh...!!

Sslee analysis is superb loh...!!

Posted by qqq3 > Jan 13, 2019 03:29 PM | Report Abuse

y dunspace > Jan 13, 2019 03:13 PM | Report Abuse

Why keep saying SSLEE is a rookie?

====

rookie,,,I don't mean Insas is rookie....but SS lee is rookie.....

Posted by qqq3 > 2019-01-13 15:43 | Report Abuse

one more rookie sign....

https://klse.i3investor.com/blogs/qqq3/187899.jsp


rookies always think that just because value traps have drop a lot in bear market.....they are safe from bear markets, that is the attraction for them.

its a cardinal sin of rookies.

I do not know coming months is bull or bear. But surely safety considerations must be top most in sslee selection of Insas.....but 70 sen drop to 50 sen is the same as $ 7 drop to $ 5.....one is not more safe than the other......

who buys Insas for safety? rookies

who buys Insas because they have a great business? No body.....

common rookie selection.

Posted by stockraider > 2019-01-13 15:47 | Report Abuse

If sslee is the "AAA" rookies in i3....!!

qqq is the "greatest old fools" in i3 loh....!!


Posted by qqq3 > Jan 13, 2019 03:43 PM | Report Abuse

one more rookie sign....

https://klse.i3investor.com/blogs/qqq3/187899.jsp


rookies always think that just because value traps have drop a lot in bear market.....they are safe from bear markets, that is the attraction for them.

its a cardinal sin of rookies.

I do not know coming months is bull or bear. But surely safety considerations must be top most in sslee selection of Insas.....but 70 sen drop to 50 sen is the same as $ 7 drop to $ 5.....one is not more safe than the other......

who buys Insas for safety? rookies

who buys Insas because they have a great business? No body.....

common rookie selection.

Posted by mani_cum > 2019-01-13 15:50 | Report Abuse

Aiyo, no need to argue so much as to buy or sell. Malaysia stock especially dun follow logic. Its matter there is sharks play or not.

Still fresh in my mind when I invested in Caely at 0.525 with 120000 unit where qr results look promising consecutively. To my disbelief instead of going up it goes down until lowest price of 0.40. I did not cut lost and hold for two years with paper lost of 10++k.

The turning point came when share price hit bottom and slowly recover to 50 cents. What I dun understand is why share price increase when qr results show diminished in profit? Caely rally which is unexpected to me help me to unlock my capital at .065 only. I consider myself very lucky from paper lost to little profit after 2 year of waiting. But never to my wildest dreams the share price hit 1.400 at it's peak if any one follow this counter not too long ago.

The morale of the story is dun try to time the best entry price or what counter to invest. The inportant one is the banker and big whale. Insas ,Caely or etc does not really matter, just when volume surge with price surge indicates of activities.

Let's see the activities in i3 translate to surge in volume coming Monday. For those newbie in insas dun forget to closely monitor wb as the expiry date is 1 year from now. Bankers have to take action NOW and not last minute be4 expiry.

For me insas or insas-wb current price is definitely a buy call and those shareholder no need to sell at dirt cheap. I hope this time those big cheerleaders like sslee, contrarian , Leno and etc will have more patient in profit taking if it really rally.

Tq and happy investing.

Posted by i3lurker > 2019-01-13 15:56 |

Post removed.Why?

Posted by stockraider > 2019-01-13 15:56 | Report Abuse

Buy cheap cheap use FA loh....!!

Buy more & big use TA mah.....!!

So now is the great time to slowly collect Insas when cheap n undervalue b4 explode upward u start chasing loh....!!


Posted by mani_cum > Jan 13, 2019 03:50 PM | Report Abuse

Aiyo, no need to argue so much as to buy or sell. Malaysia stock especially dun follow logic. Its matter there is sharks play or not.

Still fresh in my mind when I invested in Caely at 0.525 with 120000 unit where qr results look promising consecutively. To my disbelief instead of going up it goes down until lowest price of 0.40. I did not cut lost and hold for two years with paper lost of 10++k.

The turning point came when share price hit bottom and slowly recover to 50 cents. What I dun understand is why share price increase when qr results show diminished in profit? Caely rally which is unexpected to me help me to unlock my capital at .065 only. I consider myself very lucky from paper lost to little profit after 2 year of waiting. But never to my wildest dreams the share price hit 1.400 at it's peak if any one follow this counter not too long ago.

The morale of the story is dun try to time the best entry price or what counter to invest. The inportant one is the banker and big whale. Insas ,Caely or etc does not really matter, just when volume surge with price surge indicates of activities.

Let's see the activities in i3 translate to surge in volume coming Monday. For those newbie in insas dun forget to closely monitor wb as the expiry date is 1 year from now. Bankers have to take action NOW and not last minute be4 expiry.

For me insas or insas-wb current price is definitely a buy call and those shareholder no need to sell at dirt cheap. I hope this time those big cheerleaders like sslee, contrarian , Leno and etc will have more patient in profit taking if it really rally.

Tq and happy investing.

Posted by Sslee > 2019-01-13 16:19 | Report Abuse

Dear all,
Repost TheContrarian
TheContrarian > Jan 12, 2019 01:02 PM | Report Abuse
Dear Mr Sslee, the market price of a stock is determined mainly how tight the stock is held. A stock cornered by a few substantial shareholders will keep the price up ...... until one day these elephants try to exit via the only door.

My only advice is do not chase high on QL. QL have too much debt, their PE 50+ not sustainable dividend yield below 1% is an indication of financial stress. It only need one bad Q for all the bullish IB to turn against QL so be warn.

Dear Phillip,
“Me? I still have my farm.” So please keep your farm and I shall keep land with building for continues rental income and cash. To each his own

http://www.insas.net/pdf/img-20181226-2.pdf
You can refer to MSWG Q&A on car rental business and Dato’ Wong had explained to me INSAS is moving into corporate long lease for car rental.

Just a little bit on my Life and investment philosophy:
Life philosophy: Do not stay still in your circle of competent/comfort zone needs to constantly challenge your limit. Past success do not guarantee future success and past failure do not mean future failure as long as you are prepared to learn from all and re-examines your mistakes/method.

Investment philosophy: Looking for stocks that give reasonable dividend yield and capital appreciation. (A bird in the Hand is worth two in the Bush). Understand that in order to beg a 10 baggers needs patience to wait for next market crash. (If it occurs I am prepare, if it doesn’t happen I am fine with my current investment).Note: I still have 2/3 of capital in FD ready for the Market crash.

Just Imagine INSAS with so much cash, experience people and with a prudent and conservative Board how many multi-bagger will they manage to collect if market cash do occur.
INSAS BERHAD 03-Jan-2019 Acquired 1,000,000
INSAS BERHAD 03-Jan-2019 Acquired 200,000
INSAS TECHNOLOGY BERHAD 03-Jan-2019 Acquired 1,000,000
INSAS BERHAD 04-Jan-2019 Acquired 1,000,000
INSAS TECHNOLOGY BERHAD 04-Jan-2019 Acquired 1,000,000

As of your question: When can I reasonably expect the temporary undervaluation of INSAS to be resolved to it's proper price? My answer is latest after 6 months from the INSAS-WB and INSAS-PA expired and due on Feb 2020. After that day I will make appointment with Mr. Halim Saad that I have a proposal to turn his investment of: RM 0.325 X (INSAS MKT CAP) into double/triple the amount in 6 month time. (So is my answer satisfied you).

My question to you am I right to say if QL miss a Q expected profit the IB will severely punish QL?

Thank you
P/S: By the way INSAS Q1 EPS: 4.02 cents. Dividend: 2 Cents.

Posted by dunspace > 2019-01-13 17:01 | Report Abuse

No point replying you further qqq3, no idea what are you seeking from this. I will reiterate, you don't have to put down others to make your point.

Posted by 10154899906070843 > 2019-01-13 17:27 | Report Abuse

Dear sslee,

For the answer to that question, you only have to look at historical data,
Date. Revenue. Net profit
31-Mar-2018 784,427 46,098
31-Dec-2017 892,018 63,097

Drop of revenue, drop off net profit. Share price goes up. Do you notice the resilience of QL? That is because everyone looks beyond just nta, earnings, profits, revenue and looks at business performance, investment growth and execution of business strategies.

Meanwhile, for INSAS bulls, if Apple has guided towards a slowdown, and you know for a fact sales of inari is going to reduce in the coming months,

How do you think it will affect INSAS?

Posted by aaa888 > 2019-01-13 17:29 |

Post removed.Why?

Posted by qqq3 > 2019-01-13 19:09 | Report Abuse

by dunspace > Jan 13, 2019 05:01 PM | Report Abuse

No point replying you further qqq3,
==========

I don't think its possible to be clear without getting to the roots.....

Posted by Sslee > 2019-01-13 19:21 | Report Abuse

Dear Mr. Phillip,
You can refer to below link to see how many sell recommendation by Research house.
http://www.bursamalaysia.com/market/listed-companies/research-repository/research-reports#/?counter=7084

So thank you for pointing out my mistake even though most of research house make a sell recommendation but QL market price remain very strong. In order to find out why, I look into the TOP 30 shareholders and QL top 30 controlled 74.42 % whereas INSAS top 30 controlled 48.01%.

I had learnt addition useful know-how in investment from you that is to look into the quality of the top 30 shareholder whether they have deep pocket or big fund ready to support growth company with PE 50+ and dividend yield of less than 1%. So I have no more questions for you. INSAS deserve a PE of 5, MKT CAP of RM 489 million with equity of RM 1,656 million and even though this year INSAS had paid an interim dividend of 2 cents. Hopefully INSAS can give another final dividend and formulate a formal dividend policy.

Thank you

Posted by calvintaneng > 2019-01-13 19:23 |

Post removed.Why?

Posted by stockraider > 2019-01-13 23:07 | Report Abuse

ANOTHER GREAT FINDINGS OF SIFU CALVIN LOH...!!

INSAS Has 65% Profit!

Like ICapbiz INSAS also invest in Other Companies Like Inari, Ho Hup, DGSB, Omesti & others

It has an NAV of Rm2.54

Mr. Market has grossly underpriced INSAS at 70.5 sen or 73% Discount

If Walter Schloss and Ben Graham are alive INSAS will surely be part of their long term portfolio


Best Regards

Calvin Tan Research

Singapore

Posted by stockraider > 2019-01-13 23:22 | Report Abuse

This fellow Mr LONG don understand the dynamics of value investment & margin of safety loh...!!

Put it this way warren buffet advocate...the 1st tenet of investment is not lose mah...!!

If u buy insas at Rm 2.54 with its strong fundamental with cash per share Rm 0.70 per share & NTA rm 2.54 per share can lose meh ??

So if u buy insas u r very safe & comfortable mah....just the cash alone is already equal to the share price mah....!!

So people may claim value trap ??
Raider ask what value trap leh ??
U get div yield of 3% pa n with compound growth rate of 12% pa mah...!!

It is buying overvalue counter like QL at rm 6.80 with PE more than 50x and, where this co can only afford symbolic div of less than 1% pa...that is where raider see is a big potential value trap loh...!!

Just like Top glove suddenly crash 50% from pe 45x to 24x....slashing the share price by almost 50% loh...!!

QL share has this danger of falling & crashing suddenly just like top glove loh and sifu calvin is right to warn mah..!!

Posted by stockraider > 2019-01-14 00:12 | Report Abuse

Correct, Even if inari is sold huge value is created and insas share price may even shoot up to rm 2.00 mah...!!

Posted by calvintaneng > Jan 14, 2019 12:08 AM | Report Abuse

Posted by qqq3 > Jan 13, 2019 11:59 PM | Report Abuse

soon.....selling Inari no longer profitable,


What is wrong with you?

Insas is not just Inari

INSAS is an investment holding like a Corporation

It has

1) Real Businesses like Stock Brokering. Now Insas even make monies from people short selling shares. Under writting for IPOs.

2) Lending monies. Like giving out margin loans

3) Car Rental

4) Coffee business

5) Others

INSAS also got INVESTMENTS

6) Inari

7) Ho Hup

8) DGSB

9) OMESTI

10) Others undisclosed

INSAS HAS CASH. Lots of Cash.

INSAS has also got PROPERTY INVESTMENTS

AND ITS BUSINESSES ARE WORLDWIDE

See what i3 comments

Insas Bhd is engaged in several business divisions, which include stockbroking, provisioning of corporate finance and advisory services and structured finance, investment holding and trading, retail trading and car rental. It also involves in property investment and development. The company has operations spread worldwide, while its Investment Holding and Trading segment earns majority revenue for the company. ( INsas Business background by i3 investors' comment on Insas)

Posted by 10154899906070843 > 2019-01-14 00:14 | Report Abuse

Stockraider storytime and real world application are very different.

Many investors bought INSAS at rm1, rm0.9, 0.8 and proceed to hold for 3-5 years with paper losses using your EXACT same thought patterns. This has been done since 2015 every year sometime brings this up. At the same time you can buy inari, high PE growth stock and do very well for yourself. Or you could have bought QL and do even better for yourself. The point is all your idea of nta and margin of safety is useless if you don't know the business. You can have rm15 nta and it would mean nothing to you as a minority shareholder if you cannot have stock performance or dividend growth. It is worse when the majority shareholder or fund managers also does not share your confidence.

The only reason this escapes you is the single fact that no one including yourself stockraider is willing to pay rm1.5 or more for INSAS.

Why? Why are you not willing to pay 1.5 for a stock you so firmly believe is worth rm3. Please tell me that. Just a simple answer to a simple question. I know it is worth nta rm3. I do know value investing, I know you are trying to buy cigar butts lying on the ground. And yes there is a significant margin of safety, if you paid 1.50 you will get 100% profit if INSAS sells at nta.

You know why? just because INSAS is undervalued, has wonderful nta does not make it a wonderful company. If investing is simply just a ratio of nta, then it would be very simple to make money in the stock market.

But it is not.

Same opposite reason, you did not invest in topglove, QL, public bank and yinson because you think painting is only about 3 primary colors.

As long as PE entire than 30, it is immediately a bad stock.

Too bad, Amazon is a trillion dollars company which you never invested in.

Posted by stockraider > 2019-01-14 00:21 |

Post removed.Why?

Posted by stockraider > 2019-01-14 00:27 |

Post removed.Why?

Posted by 10154899906070843 > 2019-01-14 00:34 | Report Abuse

Exactly my point, what is the value of INSAS other businesses apart from inari...

That is the real reason why no one is willing to pay up for INSAS.

If inari= INSAS,

INSAS would be selling at rm4-5 by now.

Understand???

If still don't understand why INSAS is selling below nta at such a huge discount, then really nothing more to say.

I apologize.

Stockraider is master investor.
INSAS is the Berkshire Hathaway of Malaysia.
Numoni is going to become a 6 billion dollar company.
Dome coffee is going to overthrow Starbucks in 2020.
Pacific car rental is going to buy over grab.
Inari will be a 15 billion dollar Malaysia tech marvel.

Buy, buy, buy.

P.s. tomorrow I sell all my QL shares buy your INSAS.


P.s.s scrap that idea, we still have that 2 year long term bet on INSAS and QL STOCK performance + dividend. No extra points awarded for nta growth.

Posted by stockraider > 2019-01-14 00:35 | Report Abuse

If u read properly raider comment Inari contribute less than 25% to Insas overall profit mah...!!

Posted by 10154899906070843 > 2019-01-14 00:36 | Report Abuse

That was a rethorical question you soochai,

If everyone is not going to be a soochai like you are, then who will pay you rm1.50 for you shares? Nobody, because all the penny stock investors are cheap like you.

Ergo. Value trap

Posted by stockraider > 2019-01-14 00:39 | Report Abuse

Remember this investment maxim mah...!!

Posted by stockraider > Jan 13, 2019 03:06 PM | Report Abuse X

RAIDER AGREE SHARE IS CHEAP FOR A REASON LOH...!!

BUT U MUST THEN ASK THE NEXT VERY INTELLIGENT QUESTION, IS IT CHEAP FOR THE RIGHT REASON OR CHEAP FOR THE WRONG REASON MAH.??..!!

IF IT IS CHEAP FOR THE WRONG REASON U MUST BUY LOH....BCOS PEOPLE DON UNDERSTAND THE BIG MARGIN OF SAFETY THERE LOH....SO WE MUST BUY BIG BIG IN FACT VERY BIG LOH...!!

IN A WAY INSAS HATHWAY CURRENT SHARE PRICE AT RM 0.705 IS A VERY BIG OPPORTUNITY MAH...!!

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 10154899906070843 > Jan 13, 2019 01:14 PM | Report Abuse

Well said. When a stock is cheap, look for the reason a stock is cheap.

If a stock is cheap for a temporary reason, then it becomes value investing.

If a stock is cheap for a permanent reason, then it becomes a value trap.

When you look at the situation if INSAS, you come to the question:

When can I reasonably expect the temporary undervaluation of INSAS to be resolved to it's proper price?

If your answer is I don't know when it will resolve, how it who will resolve it, or why would they?

Then you are better off not owning INSAS.

Posted by stockraider > 2019-01-14 00:43 |

Post removed.Why?

Posted by Fintec > 2019-01-14 05:27 | Report Abuse

Agree. Buy Fintec at 7 sen cheaper. They also own many shares like Insas but why 7 sen unwanted?

Posted by 10154899906070843 > Jan 14, 2019 12:34 AM | Report Abuse

Exactly my point, what is the value of INSAS other businesses apart from inari...

That is the real reason why no one is willing to pay up for INSAS.

If inari= INSAS,

INSAS would be selling at rm4-5 by now.

Understand???

If still don't understand why INSAS is selling below nta at such a huge discount, then really nothing more to say.

I apologize.

Stockraider is master investor.
INSAS is the Berkshire Hathaway of Malaysia.
Numoni is going to become a 6 billion dollar company.
Dome coffee is going to overthrow Starbucks in 2020.
Pacific car rental is going to buy over grab.
Inari will be a 15 billion dollar Malaysia tech marvel.

Buy, buy, buy.

P.s. tomorrow I sell all my QL shares buy your INSAS.

Posted by 10154899906070843 > 2019-01-14 10:06 | Report Abuse

Haha finally, I was wondering when somebody would come over and promote FINTEC as the new INSAS.

Look! It is an incubator with 200 million in assets selling at only 42 million.

It's nta is crazy!, It's got lots of cash, it owns well running pubs and bars in KL and it does everything from biotech, to oil and gas to many many things. Including fintech.

They are doing esos for 0.10 cents, and it's been snapped up by all it's staff!

And some more share price is only 0.07 cents. How wonderful!

The margin of safety for this company must be brilliant.

And if I sell my QL shares I can get 25%-30% of this wonderful company!

Best thing is, it's revenue for record quarter is 2 million, but gain from sales of marketable securities which they don't need to pay income tax have them a net profit of 40 million! Isn't that wonderful? 2000% margin.

Stockraider, what now you want? Got nta, got depressed share price. This stock with at least rm0.30 cents!

Buy buy buy!

P.s. this is pure sarcasm. The reasons not to buy FINTEC is even more apparent than the reasons not to buy INSAS. Those who are not smart enough to value stocks should stop recommending them.

Posted by MCA_ > 2019-01-14 10:23 | Report Abuse

Inari drop why Insas good? Proven PH no good is true.

Posted by stockraider > 2019-01-14 10:46 | Report Abuse

Mr Long,

U R talking rubbish, this a start up no track record loh...!!

Look carefully at insas hathway 10 years of uninterrupted profit with compound growth of 12% pa mah....selling for almost for free mah..!!

U understand value or not ??

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...!!

Posted by 10154899906070843 > Jan 14, 2019 10:06 AM | Report Abuse

Haha finally, I was wondering when somebody would come over and promote FINTEC as the new INSAS.

Look! It is an incubator with 200 million in assets selling at only 42 million.

It's nta is crazy!, It's got lots of cash, it owns well running pubs and bars in KL and it does everything from biotech, to oil and gas to many many things. Including fintech.

They are doing esos for 0.10 cents, and it's been snapped up by all it's staff!

And some more share price is only 0.07 cents. How wonderful!

The margin of safety for this company must be brilliant.

And if I sell my QL shares I can get 25%-30% of this wonderful company!

Best thing is, it's revenue for record quarter is 2 million, but gain from sales of marketable securities which they don't need to pay income tax have them a net profit of 40 million! Isn't that wonderful? 2000% margin.

Stockraider, what now you want? Got nta, got depressed share price. This stock with at least rm0.30 cents!

Buy buy buy!

P.s. this is pure sarcasm. The reasons not to buy FINTEC is even more apparent than the reasons not to buy INSAS. Those who are not smart enough to value stocks should stop recommending them.