Posted by qqq3 > 2019-01-14 10:46 | Report Abuse

raid, go and remain a failed investor, failed speculator too, and don't disturb people.

u will not get it.

Posted by stockraider > 2019-01-14 10:48 | Report Abuse

Who is disturbing who leh ??

This is an insas thread mah...!!

U come here, for what leh ?? Get lost loh...!!

Posted by qqq3 > Jan 14, 2019 10:46 AM | Report Abuse

raid, go and remain a failed investor, failed speculator too, and don't disturb people.

u will not get it.

Posted by Sslee > 2019-01-14 11:03 | Report Abuse

Dear Mr. Phillip,
Former First Lady of USA Michelle Obama dignified self respect, dignity and magnanimous by her famous quote:
“When someone is cruel or act like a bully, you don’t stoop to their level,” she said. “No, our motto is, “When they go low, we go high”
I am disappointed with you as it is absurd, laughable and childish comparing INSAS to FINTEC even though this is pure sarcasm.
The fact on net profit for INSAS and FINTEC refer to below:
https://klse.i3investor.com/servlets/stk/fin/3379.jsp
https://klse.i3investor.com/servlets/stk/fin/0150.jsp

If you what to give the fact then tell me how you value INSAS:
1. M&A Securities.
2. INSAS Credit and Leasing,
3. INSAS property investment, the Group invested in shop offices which generates rental yield. The Group has two (2) blocks of 11 story (54,277 sq ft) signature offices in Mid Valley which was bought 17/18 years ago which is generating rental yield and high capital gain.
4. INSAS (19.1% INARI) or 600+ million of INARI.
5. INSAS (12.2% Ho HUP)
6. INSAS Net Cash (Current Assets- total liabilities) RM 860,912,000.
7. And others

I know you will wish that INARI shall fail because of slow sales of Apples phones. So post your comment in INARI forum and schooled EPF and all the big FUND Managers, they are very stupid in buying INARI when they can buy INSAS at cheaper price and still hold the same number of INARI shares plus all the INSAS cash generating business and NET cash.
I wish QL do well and everyone do well in year 2019.

Thank you.

Posted by qqq3 > 2019-01-14 11:11 | Report Abuse

from Inari annual report dated Sept 2018....INSAS PLAZA SDN BHD 15,746,625 24.81%

as at that date, Insas holds 25% of Inari....

above (SSLEE)

4. INSAS (19.1% INARI) or 600+ million of INARI.

if it falls to 19.1%, no more associate status , no more equity accounting...PL of Insas takes a plunge.....sure die already....

Posted by stockraider > 2019-01-14 11:27 |

Post removed.Why?

Posted by jekwong > 2019-01-14 11:28 |

Post removed.Why?

Posted by 10154899906070843 > 2019-01-14 12:02 | Report Abuse

stockraider, just taking net assets as a measure of company performance is laughable. and stop lying to public:

INSAS just posted losses in this quarter
26-Nov-2015 30-Sep-2015 47,306 -25,726 -28,279 -29,021
28-Aug-2013 30-Jun-2013 88,471 -9,653 -5,328 -7,560
30-Aug-2012 30-Jun-2012 61,443 -17,724 -15,887 -14,030
29-Nov-2011 30-Sep-2011 73,505 -18,388 -19,318 -19,212

INSAS 10 YEAR UNINTERRUPTED GROWTH AND PROFIT? QL has never posted a losing quarter in 20 years.

PLEASE STOP RECOMMENDING SHARES BASED ON LIES.

Taken from page 4 of fintec annual report:
The financial year ended 31 March 2018 has in many ways been a meaningful year to our Group. It
is meaningful as it marks our 10-year anniversary since our listing on the MESDAQ Market of Bursa
Securities (now known to us all as ACE Market of Bursa Securities) on 12 December 2008. No doubt,
the decade has brought about many challenges to the Group, but the important thing is that we
have persevered. So much so that we have grown from a Group with net assets of RM27.1 million
in 2008 to RM185.4 million as at the end of our financial year 2018. I leave itt up to you to calculate fintec net assest growth percentage.

Posted by stockraider > 2019-01-14 12:29 | Report Abuse

Thats why i say this Mr Long lack of financial understanding of measurement....u go and check berkshire hathway, they also use the same measurement i have employed loh...!!

How could Warrent buffet be wrong leh ??

Btw why waste time on quarterly accounts....the most important is the yearly audited account as long as it grow & grow for 10 yrs for shareholder what is there to dispute leh ??

Pls don say lies...i think QL is a big liar loh.

IF QL is so good, how come cannot pay a decent div leh ??

It is a big shame can only afford div yield of less than 1% pa, if so good how come cannot pay leh...!!



Posted by 10154899906070843 > Jan 14, 2019 12:02 PM | Report Abuse

stockraider, just taking net assets as a measure of company performance is laughable. and stop lying to public:

INSAS just posted losses in this quarter
26-Nov-2015 30-Sep-2015 47,306 -25,726 -28,279 -29,021
28-Aug-2013 30-Jun-2013 88,471 -9,653 -5,328 -7,560
30-Aug-2012 30-Jun-2012 61,443 -17,724 -15,887 -14,030
29-Nov-2011 30-Sep-2011 73,505 -18,388 -19,318 -19,212

INSAS 10 YEAR UNINTERRUPTED GROWTH AND PROFIT? QL has never posted a losing quarter in 20 years.

PLEASE STOP RECOMMENDING SHARES BASED ON LIES.

Taken from page 4 of fintec annual report:
The financial year ended 31 March 2018 has in many ways been a meaningful year to our Group. It
is meaningful as it marks our 10-year anniversary since our listing on the MESDAQ Market of Bursa
Securities (now known to us all as ACE Market of Bursa Securities) on 12 December 2008. No doubt,
the decade has brought about many challenges to the Group, but the important thing is that we
have persevered. So much so that we have grown from a Group with net assets of RM27.1 million
in 2008 to RM185.4 million as at the end of our financial year 2018. I leave itt up to you to calculate fintec net assest growth percentage.

Posted by qqq3 > 2019-01-14 12:41 | Report Abuse

ss


got and buy Insas la...sailang every thing u got....please....raider...u too.

Posted by stockraider > 2019-01-14 12:45 | Report Abuse

Why u busybody leh ??

No need angkat & PLP olang kaya Mr Long mah....!!

If i want buy or sailang, i don have to let u know mah...!!

Posted by qqq3 > Jan 14, 2019 12:41 PM | Report Abuse

ss


got and buy Insas la...sailang every thing u got....please....raider...u too.

Posted by qqq3 > 2019-01-14 12:47 | Report Abuse

raid...u like it so much...u really should sailang every thing...go buy Insas faster.

Posted by qqq3 > 2019-01-14 12:48 | Report Abuse

raid...win argument no point...cannot make money....only got shares can make money.

Posted by stockraider > 2019-01-14 12:49 | Report Abuse

U go and ask from INSAS 5m share placement at rm 0.645 from insas owner & the co....raider give u rm 0.01 commission loh...!!

Posted by qqq3 > Jan 14, 2019 12:47 PM | Report Abuse

raid...u like it so much...u really should sailang every thing...go buy Insas faster.

Posted by 10154899906070843 > 2019-01-14 12:53 | Report Abuse

Sslee is far far smarter, at least he also looks at the business point of view and the net profit. For me to value your items let me put it into perspective: Now that i have a closer look at insas:

1. What is INSAS m&a securities market share of investors? how fast is it growing, how fast are its competitors (TA, JUPITER, MAYBANK, HL,) in fact, skip that, just take insas m&a securities and compare it to rakuten securities. for scuttlebutters, which service do you use? do you use insas? if you dont, why not? will you use insas margin loans and services ins the future?

2. insas credit and leasing. they do a lot of mezzanine financing and development project financing. if even hong leong and public bank BALK at lending to developers and leave banks liks mbsb to do mezzanine and project financing. just compare the performance of developer lenders like mbsb to know the long term performance of insas credit & leasing. the key thing to learn for banking is that it is very low margin, and it only work if you have huge capital to play with. thats why majority of banks have a saving account program, because that is free money to borrow out. Does insas have free money to play with that they do not need to pay off (preferred shares, interest expenses etc) 1 billion ringgit in cash is barely enough to grow (refer rcecap)

3. past performance does not equal future results. yes midvalley was a steal, but in your 10 years of monitoring insas have they ever bought more high value growth building with that 900 million cash? in fact, try selling those buildings in this depressed market, will you get fair value for them? just like trying to sell you 0.69 insas shares for rm 3. Any takers?

4. inari shares? try offloading 20% of inari shares, do you think you can get fair value for them when big investors are not buying it from you for rm2.5? in the end it is liquid but not cash. If insas management decides to hold on to inari even when you spot bad weather ahead, it will drop from 2.5 to 1.41. And there is nothing you can do about it as a minority shareholder. As an investor in INSAS, you should not be worried about the value of inari, but more of the question of what insas is going to do with using the value of inari in growing insas share price and dividend increase. A simple recourse, sell inari shares, buy back insas shares and increas divided for insas shareholders. This is not being done, are the management reasons for this inligned with insas shareholder value. I say no.

5. anyone who buys shares in a property developer like hohup with margins that they do is doing something wrong. I could throw a rock and hit a developer with better net margins. even CalvinTan sifu could give you a list of 10 property developer stocks with better profit margins. And why not? With 350 million in borrowings to do their property management (sales of their goldedn wave in sabah, KK at rm1300 psqft is not doing well) what profit margin can you find when they are paying heavy interest payments. and answer me this, how much is omesti paying hohup to rent their office space?

6. that cash is not cash in the regular sense of financial reports. You should use it the same way as valuing a bank, it is a liability, a finished product that insas sells via its m&a securities, credit & leasing. oxygen to fund its margin loans, executables, and more importantly underwrite an ipo. For example, in 2014, m&a securities did an ipo for carimin petroleum where they have to underwrite and make sure there are enough buyers for carimin stock. to do this, they sold preferred shares and warrants (raised 174 million), a sum of which they used to execute this stock ipo. Now, how often do you get insas to do your ipo's for you? only for small companies and low risk. And there is always a risk involved in underwriting. If things go south, do you think it becomes just cash again?

for more learning here is a good read

https://www08.wellsfargomedia.com/assets/pdf/about/investor-relations/annual-reports/2017-annual-report.pdf

note how much more detailed nyse requires their annual reports to be? notice how simple insas statements are.

Posted by qqq3 > 2019-01-14 12:56 | Report Abuse

raid...Insas multi year low...NTA highest ever.....go buy la....

on the other hand QL has been trading at a premium like forever....

share market...u can try to understand why...or u can insist u are right.

Posted by stockraider > 2019-01-14 13:06 | Report Abuse

Who say i m not buying leh ??

Slowly lah collect cheap cheap mah....!!

Posted by qqq3 > Jan 14, 2019 12:56 PM | Report Abuse

raid...Insas multi year low...NTA highest ever.....go buy la....

on the other hand QL has been trading at a premium like forever....

share market...u can try to understand why...or u can insist u are right.

Posted by qqq3 > 2019-01-14 13:09 | Report Abuse

They slash commission rates from 1% to 0.1%.....only rookies like SSlee sailang and focus his attention in Insas and TA.......

Posted by qqq3 > 2019-01-14 13:11 | Report Abuse

there are these kind of investors in this world...calvin and his fans raider and that SSLee.....

I guess they call themselves Big Ben fans.....but Big Ben lived in a different era.

Posted by qqq3 > 2019-01-14 13:12 | Report Abuse

I guess they call themselves Big Ben fans.....but Big Ben lived in a different era., different era, countries and different set of laws......

Posted by qqq3 > 2019-01-14 13:12 | Report Abuse

that is what happens to people who reads some Wall Street books and think they are experts....

Posted by qqq3 > 2019-01-14 13:16 | Report Abuse

Ong Leong Huat of OSK prefers to swap his brokerage firm into RHB shares....who is this SSLee compare to maestro Ong Leong Huat?

Posted by stockraider > 2019-01-14 13:22 | Report Abuse

Thats why i m saying u r not that smart loh...Mr long loh...!!

If u buy insas even if no growth say u get 4% yield pa....but u pay rm 0.70 for rm 2.54 worth of assets mah...!!

Thus rm 2.54 x 4% pa ur return is rm 0.10 per share loh...!! Rm 0.10 per share profit on insas agst ur investment cost of rm 0.70 already got yield or return on investment of 14% pa...so u chinchai already got 14% return every year loh...!!

So there are 3 potential gain on insas if u buy cheap mah;
1. The discount of rm 2.54 for rm 0.70 u already save rm 1.84 per share
2. U getting fixed about 0.10 cashflow...that give u yield 14% pa.
3. There is some potential for earnings growth loh..!!

Compare QL
For Ql u get less than 1% pa div yield & PE 50x....that will require about 50 yrs to 1000 yrs to get back ur capital...yes u can rely on growth but how much & how long it require to catch up with insas leh ??

For all u may know....it will never catch up loh...!!

Conclusion
Insas value is already there mah...!!

For QL u hope ur value can grow & grow to catch up with insas loh...!!
But insas already there & far ahead of u mah....!!

Posted by qqq3 > 2019-01-14 13:25 | Report Abuse

raid ...do what ever u want but stop posting.....only rookies will be convinced by u.....

Posted by stockraider > 2019-01-14 13:27 | Report Abuse

This is basic maths n business sense u may never understand loh...!!

Posted by qqq3 > Jan 14, 2019 01:25 PM | Report Abuse

raid ...do what ever u want but stop posting.....only rookies will be convinced by u.....

Posted by qqq3 > 2019-01-14 13:30 | Report Abuse

interestingly Insas choose to sell down Inari from 25% to 19%

Posted by qqq3 > 2019-01-14 13:33 | Report Abuse

Insas did not drop yesterday.....Insas has been dropping like forever ....so why?

Posted by stockraider > 2019-01-14 13:36 | Report Abuse

In a way correct too mah....!!
If insas let go all of inari can create Rm 700m profit....but insas not sure can inari can grow & grow go & go to Rm 10 billion....so insas sell a portion of inari to take profit & get back some capital 1st loh..!!

People like qqq no business sense how to understand leh ??

Posted by qqq3 > Jan 14, 2019 01:30 PM | Report Abuse

interestingly Insas choose to sell down Inari from 25% to 19%

Posted by stockraider > 2019-01-14 13:51 | Report Abuse

Posted by 10154899906070843 > Jan 14, 2019 12:53 PM | Report Abuse

Sslee is far far smarter, at least he also looks at the business point of view and the net profit. For me to value your items let me put it into perspective: Now that i have a closer look at insas:

1. What is INSAS m&a securities market share of investors? how fast is it growing, how fast are its competitors (TA, JUPITER, MAYBANK, HL,) in fact, skip that, just take insas m&a securities and compare it to rakuten securities. for scuttlebutters, which service do you use? do you use insas? if you dont, why not? will you use insas margin loans and services ins the future?
IN BUSINESS U HAVE PLAYERS...IS OK MAH...AS LONG AS U MAKE GOOD PROFITS SO WHAT IS THE PROBLEM LOH...!! DON TELL ME QL BUSINESS NO COMPETITOR LOH?

2. insas credit and leasing. they do a lot of mezzanine financing and development project financing. if even hong leong and public bank BALK at lending to developers and leave banks liks mbsb to do mezzanine and project financing. just compare the performance of developer lenders like mbsb to know the long term performance of insas credit & leasing. the key thing to learn for banking is that it is very low margin, and it only work if you have huge capital to play with. thats why majority of banks have a saving account program, because that is free money to borrow out. Does insas have free money to play with that they do not need to pay off (preferred shares, interest expenses etc) 1 billion ringgit in cash is barely enough to grow (refer rcecap).
AGAIN HOW MANY LOAN SHARK HAS THE KNACK OF INSAS LEH ?? PEOPLE LIKE HONG LEONG BANK & PBANK NO BALLS TO LEND BIG IN THIS AREA LOH..!! PEOPLE LIKE RCE AND MBSB MALAY CORP & MANAGEMENT HOW GOOD ARE THEY TO LEND & COLLECT BACK LEH ??

3. past performance does not equal future results. yes midvalley was a steal, but in your 10 years of monitoring insas have they ever bought more high value growth building with that 900 million cash? in fact, try selling those buildings in this depressed market, will you get fair value for them? just like trying to sell you 0.69 insas shares for rm 3. Any takers? WHO SAYS INSAS DID NOT MAKE SUPER GOOD THEIR MONIES THEY BOUGHT INSAS A SUPERB BLOCK BUSTER AND HAS APPRECIATED MORE THAN 1000% MAH....!!

4. inari shares? try offloading 20% of inari shares, do you think you can get fair value for them when big investors are not buying it from you for rm2.5? in the end it is liquid but not cash. If insas management decides to hold on to inari even when you spot bad weather ahead, it will drop from 2.5 to 1.41. And there is nothing you can do about it as a minority shareholder. As an investor in INSAS, you should not be worried about the value of inari, but more of the question of what insas is going to do with using the value of inari in growing insas share price and dividend increase. A simple recourse, sell inari shares, buy back insas shares and increas divided for insas shareholders. This is not being done, are the management reasons for this inligned with insas shareholder value. I say no.ASK YOURSELF WITH QL PAYING DIV LESS THAN 1% PA AND PE 50X CAN U GET BIG BUYERS TAKING FROM U AT HIGH PRICE LEH ??
THE SAME PRINCIPLE APPLIES MAH....BUT INSAS PEOPLE ARE SAVVY INVESTORS THEY MANAGE TO OFFLOAD 6% INARI WHEN THE PRICE IS RIGHT MAH..!!

5. anyone who buys shares in a property developer like hohup with margins that they do is doing something wrong. I could throw a rock and hit a developer with better net margins. even CalvinTan sifu could give you a list of 10 property developer stocks with better profit margins. And why not? With 350 million in borrowings to do their property management (sales of their goldedn wave in sabah, KK at rm1300 psqft is not doing well) what profit margin can you find when they are paying heavy interest payments. and answer me this, how much is omesti paying hohup to rent their office space?
NOT WRONG LOH...IT IS STRATEGIC BUY MAH.! TODATE HOHUP IS MAKING MONIES & CONTRIBUTING TO PROFIT MAH...!!

Posted by stockraider > 2019-01-14 13:54 | Report Abuse

6. that cash is not cash in the regular sense of financial reports. You should use it the same way as valuing a bank, it is a liability, a finished product that insas sells via its m&a securities, credit & leasing. oxygen to fund its margin loans, executables, and more importantly underwrite an ipo. For example, in 2014, m&a securities did an ipo for carimin petroleum where they have to underwrite and make sure there are enough buyers for carimin stock. to do this, they sold preferred shares and warrants (raised 174 million), a sum of which they used to execute this stock ipo. Now, how often do you get insas to do your ipo's for you? only for small companies and low risk. And there is always a risk involved in underwriting. If things go south, do you think it becomes just cash again?
INSAS IS NOT BANK MAH....EVEN IT IS BANK...IT HAS A VERY BIG MARGIN OF SAFETY WITH MORE THAN RM 300 MILLION CASH OR RM 0.70 PER SHARE & EQUAL TO ITS SHARE PRICE OF O.70...!!

THE CASH IS KING WITH RM 300M NETT CASH INSAS IS SITTING PRETTY LOH...!!

Posted by Sslee > 2019-01-14 14:40 | Report Abuse

Dear Mr. Phillip,
I am extremely disappointed with you. Do not try to school me with how much more detailed nyse requires their annual reports to be? Just look into the mirror yourself and tell me a simple QL financial report you also cannot understand and committed so many errors as I pointed out in:
https://klse.i3investor.com/blogs/Sslee_blog/188836.jsp

I think it will be a tall order for you to even understand INSAS Report. And try to objectively do a DCF for the future cash flow (Dividend, Rental, and earnings) of each of INSAS business.
And yes INSAS:
Trade receivables: RM 376,481,000
Financial assets at fair value through profit or loss: RM 236,562,000
Deposits with licensed banks and financial institutions: RM 572,703,000
Cash and bank balances: RM 103,763,000
All this current assets is not cash and cash equivalent (like Xingquan fake account)

I had said what I need to say and I am tired of saying anymore.
Wish you all the luck

Thank you
P/S: you are an intelligent person but very unfortunately your egos prevent you from using your brain to see thing as it is. You just want to win your argument at any cost.

Posted by qqq3 > 2019-01-14 15:00 | Report Abuse

sslee the rookie .....lol....

Posted by qqq3 > 2019-01-14 15:12 | Report Abuse

rookies got no issues with Insas........just too bad rookies cannot push the market.....

Posted by 10154899906070843 > 2019-01-14 17:55 | Report Abuse

Dear Sslee,

if that is the way you feel, then you have nothing more to learn. You have mastered all the investing skills that took me 20 years to learn.

Maybe one final thing,

the word objectively and DCF are 2 mutually exclusive things. DCF ( I assume you are talking about discounted cash flow analysis) is the most subjective thing I have ever heard and used. I use it very often to calculate, but only on a relative basis, as you can put any form of vindication to prove a company cash flow growth.

you have to apply subjectively:

1. discount rate ( do tell me what I should put in for this figure, as using NYSE discount rate into bursa stocks has been suicide for me. I have tried all sorts of WACC, risk free rates and beta and have found a figure that works for me. what figures do you use?)
2. growth assumptions (which work best for companies with fixed growth like manufacturing, commodities like QL and INARI, and horrible for investment companies like INSAS. How do you judge? Do you listen to the CEO for his growth assumptions? or just build your own based on past data?)
3. terminal growth rate? ( you need to understand the business to even be a judge of this.)

Using this method, everyone can look at the same stock and come out with the different results.

Understand your business first. Then go use your DCF and FA and TA to decide on INSAS long term prospects.

I just hope you are right in the end.

Its not my money being stuck here for 5-10 years.

* If investing in DCF and NTA was that simple, would any smart man be losing money?

Posted by 10154899906070843 > 2019-01-14 17:58 | Report Abuse

stockraider you lost all of my confidence when you said INSAS has been growing and consistent profitable growth without losses for 10 years straight.

Whatever you say from this point on should and must be ignored.

Posted by qqq3 > 2019-01-14 18:08 | Report Abuse

just put it this way...promoting Insas and TA is a sure sign of rookieness.


brave enough to buy QL...must have a look and see what makes him so brave.....

Posted by qqq3 > 2019-01-14 18:19 | Report Abuse

that is why I say, want to go to AGM also go to AGM of higher quality companies.

Posted by qqq3 > 2019-01-14 18:21 | Report Abuse

go to AGM of Insas who convince who is left to be seen.......lol....

see who is bigger shark.

Posted by dunspace > 2019-01-14 18:35 | Report Abuse

Don't waste time replying.

Posted by stockraider > 2019-01-14 18:36 | Report Abuse

Raider reiterated insas has been consistent growing its profit without interupption for the past 10 yrs mah...!!

The 10 yrs means annual audited profit mah...n not your so call ...qtrly profit loh....!!

Qtrly profit unofficial ....figures N not verify mah...!!

Posted by 10154899906070843 > Jan 14, 2019 05:58 PM | Report Abuse

stockraider you lost all of my confidence when you said INSAS has been growing and consistent profitable growth without losses for 10 years straight.

Whatever you say from this point on should and must be ignored.

Posted by qqq3 > 2019-01-14 18:47 | Report Abuse

there is not a single stock broking share that is not traded at huge discounts....go and buy Kenanga...buy up whole of Kenanga la......

Posted by stockraider > 2019-01-14 18:55 | Report Abuse

Mr Long,

Your understanding of business n stock market investment is very low...it is no wonder we difficulty communicating with u loh...!!

Posted by Sslee > Jan 14, 2019 02:40 PM | Report Abuse

Dear Mr. Phillip,
I am extremely disappointed with you. Do not try to school me with how much more detailed nyse requires their annual reports to be? Just look into the mirror yourself and tell me a simple QL financial report you also cannot understand and committed so many errors as I pointed out in:
https://klse.i3investor.com/blogs/Sslee_blog/188836.jsp

I think it will be a tall order for you to even understand INSAS Report. And try to objectively do a DCF for the future cash flow (Dividend, Rental, and earnings) of each of INSAS business.
And yes INSAS:
Trade receivables: RM 376,481,000
Financial assets at fair value through profit or loss: RM 236,562,000
Deposits with licensed banks and financial institutions: RM 572,703,000
Cash and bank balances: RM 103,763,000
All this current assets is not cash and cash equivalent (like Xingquan fake account)

I had said what I need to say and I am tired of saying anymore.
Wish you all the luck

Thank you
P/S: you are an intelligent person but very unfortunately your egos prevent you from using your brain to see thing as it is. You just want to win your argument at any cost. CORRECTION HE IS NAIVE LOH...!! NOT INTELLIGENT MAH...!!


10154899906070843
144 posts
Posted by 10154899906070843 > Jan 14, 2019 05:55 PM | Report Abuse

Dear Sslee,

if that is the way you feel, then you have nothing more to learn. You have mastered all the investing skills that took me 20 years to learn.

Maybe one final thing,

the word objectively and DCF are 2 mutually exclusive things. DCF ( I assume you are talking about discounted cash flow analysis) is the most subjective thing I have ever heard and used. I use it very often to calculate, but only on a relative basis, as you can put any form of vindication to prove a company cash flow growth.

you have to apply subjectively:

1. discount rate ( do tell me what I should put in for this figure, as using NYSE discount rate into bursa stocks has been suicide for me. I have tried all sorts of WACC, risk free rates and beta and have found a figure that works for me. what figures do you use?) DON USE THIS STUPID RATES LOH..!! ASK YOURSELF WHAT IS UR OPPORTUNITY COST .IF U DON INVEST..UR COST OF FUNDS LOH...!! MAYBE....FIXED DEPOSITS, MAYBE UR COST OF BORROWING LOH...!!

2. growth assumptions (which work best for companies with fixed growth like manufacturing, commodities like QL and INARI, and horrible for investment companies like INSAS. How do you judge? Do you listen to the CEO for his growth assumptions? or just build your own based on past data?) WHY U GOT GROWTH ASSUMPTION MEH ?? U PLUCK IT OFF FROM THE THIN AIR AH ??

3. terminal growth rate? ( you need to understand the business to even be a judge of this.) AGAIN THIS U USUALLY PLUCK FROM THIN AIR LOH..!!

Using this method, everyone can look at the same stock and come out with the different results. THE PROBLEM IS UR GROWTH ASSUMPTION IS BIAS N INACCURATE MAH...!!

Understand your business first. Then go use your DCF and FA and TA to decide on INSAS long term prospects.PEOPLE LIKE INSAS NO NEED GROWTH JUST BUYING AT RM 0.70 N HOLD IT FOR 6 YRS ALREADY CAN ACHIEVE GROWTH RETURN OF 20% PA FOR THE NEXT 5 YRS MAH...!!
IT IS SIMPLE U JUST PAY RM 0.70 FOR FAIR VALUE EQUITY OF RM 2.54 MAH..!

I just hope you are right in the end.
Its not my money being stuck here for 5-10 years.

* If investing in DCF and NTA was that simple, would any smart man be losing money? TRUE LOH, U HAVE BEEN LOSING MONIES FOR MANY YEARS EARLIER TO THE POINT OF NEARLY GOT BANKRUPT, BCOS U R A GAMBLER...U DO NOT INVEST BASED ON MARGIN OF SAFETY MAH...!!

Posted by stockraider > 2019-01-14 18:59 | Report Abuse

Investment based on Margin of safety is layback and simple n usually successful mah...!!
Benjamin Graham has been practising it successfully mah...!!

Insas is a good classic margin of safety stock pick here loh..!!

If u buy insas even if no growth say u get 4% yield pa....but u pay rm 0.70 for rm 2.54 worth of assets mah...!!

Thus rm 2.54 x 4% pa ur return is rm 0.10 per share loh...!! Rm 0.10 per share profit on insas agst ur investment cost of rm 0.70 already got yield or return on investment of 14% pa...so u chinchai already got 14% return every year loh...!!

So there are 3 potential gain on insas if u buy cheap mah;
1. The discount of rm 2.54 for rm 0.70 u already save rm 1.84 per share
2. U getting fixed about 0.10 cashflow...that give u yield 14% pa.
3. There is some potential for earnings growth loh..!!

Compare QL
For Ql u get less than 1% pa div yield & PE 50x....that will require about 50 yrs to 1000 yrs to get back ur capital...yes u can rely on growth but how much & how long it require to catch up with insas leh ??

For all u may know....it will never catch up loh...!!

Conclusion
Insas value is already there mah...!!

For QL u hope ur value can grow & grow to catch up with insas loh...!!
But insas already there & far ahead of u mah....!!

Posted by 10154899906070843 > 2019-01-14 18:59 | Report Abuse

I think this is enough. Any and all information shared will be like pearls thrown before swine. Only thing to be done is to revisit this forum 2 years from now, and relearn the lessons of old.

Everything here said in the end is just speculation and view of mind based on previous results.

I hope all the best here, I don't know any of you in real life but I wish no one here any harm or loss in their investments.

I do not do IDSS of INSAS so I have nothing to gain.

I am not long a single share of INSAS so I have nothing to lose.

I promise to shake sslee hand 2 years from now and a offer of free Bak kut teh to both CharlesT and stockraider should MNRB and INSAS performance better than QL 2 years from now ( share price+ dividend, not nta).

And I promise not to be too harsh in my criticism should stockraider and calvin tan bring their followers to the wrong stock.

Have a good week everybody. You'll not hear me critique INSAS again ( except in January 2020 and January 2021).

Posted by stockraider > 2019-01-14 19:01 | Report Abuse

Yes but they don hold nett cash rm 300 million or rm 0.70 cash per share or equivalent to the insas share price loh...!!

If u buy insas, U practically got insas for free loh...!!

Posted by qqq3 > Jan 14, 2019 06:47 PM | Report Abuse

there is not a single stock broking share that is not traded at huge discounts....go and buy Kenanga...buy up whole of Kenanga la......

Posted by calvintaneng > 2019-01-14 19:58 | Report Abuse

Bye bye long number

Calvin is happy to hold Insas till value emerge.

Last time was Pm Corp which 3iii failed to see

Anyway we will see not just one or two years. We will ultimately see Value emerge

For length of time we cannot tell.

BUT as to its certainty we are very sure

Posted by 3iii > 2019-01-14 21:14 | Report Abuse

>>>>

calvintaneng haha!

don't worry for Pm Corp

after paying 8 cts cash still got lots of cash for further cash payout.

just accumulate on weakness.

after divorce case over both pm corp and mui bhd should fly up
16/05/2016 15:56
>>>>



Calvin told everyone PMCorp will be at least 50 sen.
Read his past promotion.
Sadly, he does not seem to learn his mistakes.
Today PMCorp is 15.5 sen.

Posted by 10154899906070843 > 2019-01-14 22:41 | Report Abuse

3iii, I have quietly read this promotion too. Calvin did promote PMCorp by saying it will be worth 50 sen.

Luckily, he did not say where this will be or when will it be.

So, you know I know la.

Buy INSAS. lol.

Posted by leno > 2019-01-14 23:44 | Report Abuse

hahaha .. hello .. babeee .... u think pmcorp good u go promote at pmcorp ... u think QL good, go promote at QL ... have some ethic ... don't come to other counter and tok kok ... why ? nobody go to your counter to tok arr ? so lonely there arr ? your counter must be boring counter lor ... must be a cipet counter until nobody wan to go to your counter and chit chat wit u aaa ? HAHAHAHAH ... HAHAHAHAHAHAH .... INSAS CANTEEEEEEEEEEEEEEEEEEEKKKK !! U got see me go to your cipet counter and promote insas or not ? No right ... ? INSAS GOIN to FLY .... TICK TOCK TICK TOCK TICK TOCK ... CANTEEEEEEEEEEEEEEEEEEEEEEKKK !!! hahahahahahHAHAHAHA

Posted by probability > 2019-01-14 23:47 | Report Abuse

leno the cat still alive....meow sound coming from deep inside the well....

hopefully someone will help it exit from the well one day...

Posted by leno > 2019-01-14 23:53 |

Post removed.Why?