Posted by Insasman > 2019-12-25 20:58 | Report Abuse

I was replying to musangking but he disappeared

Posted by Insasman > 2019-12-25 22:03 | Report Abuse

A 22% return in 2 months is a very good crumb

Posted by Insasman > 2019-12-26 07:27 | Report Abuse

DS Thong is very lucky as far as the stock market and the Takeover Code are concerned

While he will be crucified for making a VGO at a miserably low RM1, nobody can accuse him of daylight robbery when making a MGO at the same price (as it is by virtue of warrant conversion)

He will also claim that he is required to do it (whilst secretly rejoicing in his ability) and will furthermore recommend non-acceptance (whilst secretly ensuring its unconditionality)

Lastly, if the price remains below RM1 in February, he will claim that he is converting his warrants at a loss - what a martyr!

A classic example of the perfect crime

Posted by Insasman > 2019-12-26 08:16 | Report Abuse

Even if return is 11% a month?

Posted by Sslee > 2019-12-26 08:51 | Report Abuse

Dear INSAS shareholders,
No. of outstanding warrants: 265,202,536
Exercise price per warrant: RM1.00
Expiry date of warrants: 25 February 2020
Number of RPS issued: 132,601,268
Unlike other company INSAS is not short of cash to redeem the RPS RM132,601,268 hence INSAS do not need any warrants holders to convert their warrant (No incentive to push the mother share above RM 1.00 for warrants conversion)

As of Dato’ Sri Thong, he can hold his last card very close to himself but the option are very limited to.
1. Let warrants expired and do nothing (No MGO)
2. Convert some warrants to trigger 33% threshold and offer MGO at RM1.00
3. Let warrants expired and buy mother share from market to trigger 33% threshold and offer MGO at 7 days weightage average market price.

My INSAS stock picked for 2020 thesis is not base on MGO RM 1.00 but purely on its visible profitability:
1. Inari: NP to SH RM200million. Insas share of profit RM 38 million.
2. ICL income: RM 31 million
3. M&A: NP RM 11 million
4. Retail trading and car rental: RM 1 million
5. Property investment: RM 4 million
6. Investment holding: ?????.
7. Interest saving on RPS RM 5.3 million

I believe in Dato Dr. Tan (Masters and PhD in Engineering Science in 1981 and 1983 respectively from Harvard University, USA) ability in leading INSAS Technology and spearhead INSAS Tech growth.

And I believe in Dato’ Wong ability to make INSAS more efficient and thus increase INSAS profitability and once INSAS warrants and RPS 2015/2020 expired on 25th Feb 2020 more clarity will emerge and Dato’ Wong will have more rooms to formulate dividend policy and seek approval for MGO waiver to start share buy back again.

Thank you

Posted by Insasman > 2019-12-26 08:59 | Report Abuse

FYI the chongker has to apply for MGO waiver not Insas

Posted by Insasman > 2019-12-26 09:02 | Report Abuse

The only clarity that will emerge in February is the RM1 MGO

Posted by Sslee > 2019-12-26 09:05 | Report Abuse

Dear all,
Below is email reply from Dato’ Wong on my proposed share buy-back waiver for MGO

Hi Mr Lee

Thanks for your past & continuous support & I personally have no objection to your proposed resolution. However, there are stringent processes, procedures and compliance requirements under the Bursa Listing Rules & Take-over Code that our CF advisers are looking into it and it is unlikely that we are able to make the waiver application in time for the approval of Insas shareholders by this coming AGM. We are seriously exploring this waiver proposal and if possible, we hope to initiate this waiver application process in year 2020.

Regards
wgk

Posted by Insasman > 2019-12-26 09:19 | Report Abuse

There is no avenue or necessity for Insas to seek waiver - the onus is on the chongker

Posted by Insasman > 2019-12-26 09:23 | Report Abuse

SSLee

I am afraid Dato Wong is leading you up the garden path - to sad disappointment

Posted by Insasman > 2019-12-26 09:28 | Report Abuse

We must be mindful of the rights and duties of the company as opposed to the major shareholder which may sometimes conflict

Posted by Insasman > 2019-12-26 15:09 | Report Abuse

Some poor sod finally managed to sell 3,000 wb for a gross .......... RM15

Posted by Insasman > 2019-12-26 15:21 | Report Abuse

Someone spent nearly RM1m to buy about 150m wb in early December

I suspect it was the chongker and that he will burn them-as insurance to ensure that nobody else will convert

1,000% guarantee therefore that there will be a RM1 mgo in February

Posted by Noni > 2019-12-26 15:52 | Report Abuse

I thought this will follow Inari :(

Posted by Insasman > 2019-12-26 15:58 | Report Abuse

The chongker has full control of the share price - which will remain depressed until February irrespective of inari performance

Posted by Insasman > 2019-12-26 16:05 | Report Abuse

Never forget that the chongker will be paying us only RM1 for something worth at least RM3

Anyone will beg borrow and steal to have a once in a lifetime opportunity like this

Posted by Insasman > 2019-12-26 17:12 | Report Abuse

The Insas board destroy value and should be summarily sacked

How can the directors defend a situation where the value of one of the parts is more than the value of the whole?

They should just distribute the inari shares to the Insas shareholders, and exile themselves to a Tibetan temple and learn to do a better job in their next life

Posted by Insasman > 2019-12-26 17:13 | Report Abuse

It makes a mockery of the sum-of-the-parts investment methodology

Posted by paperplane > 2019-12-26 18:34 | Report Abuse

Eh. U belum die. U pokai

Posted by dragonslayer > 2019-12-26 18:36 | Report Abuse

Aiyo paperplane...siapa pokai..this year...judi is better than last year...no pokai lagi...next yr what is your pick...I wanna follow you buycall leh...you didnt ho back you house kah...I left msg there....lol..aiyoyo..kikiki

Posted by dragonslayer > 2019-12-26 20:31 | Report Abuse

Aiyo..last chance liao...CNY rally..if no rally...end of the game for the warrant....all become toilet paper...even boss brother own warrant also become toilet paper...lol...aiyoyo...kikiki

Posted by Insasman > 2019-12-26 20:56 | Report Abuse

All become toliet paper except for chongker who will convert and become 40% shareholder

Posted by Cnlim > 2019-12-27 07:06 | Report Abuse

Yes this is a gem to the controlling shareholders retail investors holding trap value stock for years n directors getting good paychecks thinking one day will go higher

Posted by Insasman > 2019-12-27 07:12 | Report Abuse

There will be light soon - in the form of a RM1 mgo in February

Posted by Hazzyy > 2019-12-27 11:16 | Report Abuse

There are white crooks and there are black crooks. They are still crooks.

Posted by Insasman > 2019-12-27 11:47 | Report Abuse

Agreed

Warrant conversion will increase chongker’s stake from just under 33% to about 40% and trigger a conditional MGO

He needs another 10% to make the MGO unconditional and I am sure his proxies have this (and can either cross this to him or accept the MGO)

Once he has 50%, he is free to buy at will to further increase his stake until his greed level is satisfied to unlock the value

Posted by Insasman > 2019-12-27 13:12 | Report Abuse

I would also do the same if I were the chongker

Like you said, it’s only human

Posted by sctan > 2019-12-27 14:20 | Report Abuse

Based on the analysis of these few taiko, most probably chongker needs to offer mgo at rm1. So now still have 20 cents profit. It is close to 25% profit. Everyone should buy more Insas mother, iso asking why chongker don't want to share profit with small ikan bilis.

Posted by Insasman > 2019-12-27 14:48 | Report Abuse

Sctan is right

Chongker in his quest to suppress the price has unintentionally provided a golden opportunity for us to make almost 25% in two months

I would buy more but have no more bullets

Posted by 3101575000 > 2019-12-27 15:24 | Report Abuse

Bought 0.805 today last batch

Posted by Insasman > 2019-12-27 15:31 | Report Abuse

Noted but either way whoever buys now will benefit

Posted by SpicyMcDeluxe > 2019-12-27 16:21 | Report Abuse

WB vroom

Posted by Insasman > 2019-12-27 16:57 | Report Abuse

Any doctor in the house?

I think we need to record time of death of Insas wb

Posted by Insasman > 2019-12-27 17:41 | Report Abuse

Not only that - chongker also spent nearly RM1m to buy (and burn) the bulk of the rest of the wb to ensure that he will be the only significant warrant converter

Posted by Insasman > 2019-12-27 17:59 | Report Abuse

We need to set our expectations at a realistic level

We will only get RM1 in February but that is also ok for those of us who bought in the 70s and 80s

Our only hope is that the price will go above RM1 during the mgo and we can then sell in the open market (as happened in KPOWER)

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

Noted

Another difference is that KPOWER only has 76m shares

Posted by Insasman > 2019-12-27 18:25 | Report Abuse

If chongker is generous he can buy the 10% block during the mgo at higher than RM1 which will immediately make that the mgo price also

Posted by Insasman > 2019-12-27 18:46 | Report Abuse

We can always hope ha ha

Posted by Insasman > 2019-12-27 19:22 | Report Abuse

deMusangking

Conversion is what is known as a loss leader

You lose a bit when you convert but will gain a lot more after you control the company and unlock value

Posted by Insasman > 2019-12-27 19:37 | Report Abuse

However I cannot understand why there are still sellers at this level

Everyone should be patient and just hold on to their shares until February when they can sell for RM1 (and hopefully more)

Please don’t be frightened by the down movement from the high 80s which is probably masterminded by the chongker

This is just noise - ignore them

Posted by Insasman > 2019-12-27 20:35 | Report Abuse

Dragonslayer

I am not promoter but value investor

There is nothing to promote except RM1

Posted by Insasman > 2019-12-27 20:40 | Report Abuse

I have been burnt elsewhere too many times to count but honestly think that there is almost zero risk in buying Insas at this price

It is a fundamentally good share but more importantly there is a catalyst - the mgo in February

Posted by Insasman > 2019-12-27 20:42 | Report Abuse

Who will bother to mislead anyone for 20 sen?

Posted by Insasman > 2019-12-27 20:49 | Report Abuse

Dragonslayer

Unlike you, I use this forum to share information which will hopefully help everybody make some money

That is after all what this forum is for

Posted by sohaitrader > 2019-12-30 14:50 | Report Abuse

aiyoyo still 81 sen haha

Posted by SpicyMcDeluxe > 2019-12-31 02:01 | Report Abuse

Vroom

Posted by 3101575000 > 2019-12-31 11:39 | Report Abuse

Ya loh ! Have to wait ! Wait ! WAIT!

Posted by sohaitrader > 2019-12-31 12:05 | Report Abuse

Tnlogis Same story ?

Posted by SpicyMcDeluxe > 2020-01-01 00:32 | Report Abuse

Happy new year

Posted by Insasman > 2020-01-01 14:10 | Report Abuse

In the new year spirit and in spite of possible adverse dragonslayer comment, I wish to repeat my theory

In 2 months time, the Thong group will convert 100m warrants and trigger a conditional mgo at RM1

It presently owns nearly 33% of Insas and this will increase to just under 42% on warrant conversion

During the mgo, Insas will do full share buyback totalling 49m shares - it has bought 30.3m shares and can buy a total of 79.3m shares being 10% of the enlarged share capital

This will further indirectly increase the Thong group interest, and it only needs acceptances for about 40m shares for mgo success

Please hang on to your shares for an almost 25% return in 2 months