Posted by Philip ( buy what you understand) > 2020-05-30 20:25 | Report Abuse

Your sapnrg from 0.315 drop to 0.09. your potential is good meh? Don't forget our bet end of the year Bak kut teh lunch. If you keep talking, I will invite all the orphans from seri mengasih to come join me on a bus driver.

INSAS 0.69(0.62)
Ql. 6.9( 10.12)

>>>>>>>>>

stockraider This sohai Philip still talk bad of insas investment in sengenic, does Philip knows insas already more than 1000% in terms of potential ahead gain on sengenic now leh ??

Posted by Kctai3007 > 2020-06-01 08:49 | Report Abuse

SSLee

Just checking - have you contacted Dato Wong re the mgo waiver arising from share buyback ?

Posted by Kctai3007 > 2020-06-01 08:49 | Report Abuse

Year end coming soon

Posted by TrendLai > 2020-06-01 09:51 | Report Abuse

why covid 19 related not moving??
Appointed by the Malaysian government.

Posted by Sslee > 2020-06-01 10:38 | Report Abuse

Dear Kctai3007,
Yes and Dato told me will reply me this week as he is been quite busy with quarterly end 31/3/2020 financial report.

Posted by Kctai3007 > 2020-06-01 10:49 | Report Abuse

Tqvm

Posted by paktua73 > 2020-06-01 14:50 | Report Abuse

paktua begging to all chief naysayer here..
please come to HLT forum..
bring all demon view..
condemned analysis beat us there..
until now no good naysayer dare to come..
Huhuhu..how come price can pull back down..
many train n lorry waiting..
at lower canot cari makan..



tut tut
I'm begging you..

Posted by kyosan > 2020-06-01 18:31 | Report Abuse

paktua....just take Karyon, next day will be goreng~

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2020-06-03 12:22 | Report Abuse

Why is this undervalued stock getting cheaper?!

Posted by stockraider > 2020-06-03 12:41 | Report Abuse

Lu pakai otak lah...! Bodoh...!!

That day sell down in march to as low as 40 sen mah...!!

Now already up more than 50% loh...!!

Tell me which of your stock up 50% within 3 mths leh ??

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > Jun 3, 2020 12:22 PM | Report Abuse

Why is this undervalued stock getting cheaper?!

Posted by Philip ( buy what you understand) > 2020-06-03 13:45 | Report Abuse

How come stockraider you promise the stock will jump to rm1 after Chinese New year, why the share price crash? Sohai?

Posted by paktua73 > 2020-06-06 01:21 | Report Abuse

dear sifu FA sslee..
paktua love to invite you..
to paktua regiment..
as Feedback Committee Members(FCB)..
if pleasure is you can..
just sent the request
to paktua chief regiments @spidyxero..

write -#FCB@Sslee


tut tut
be pleasure if you can

Posted by paktua73 > 2020-06-06 01:37 | Report Abuse

also paktua invite stokraider to be
invite you..
to paktua regiment..
as Feedback Committee Members(FCB)..
if pleasure is you can..
just sent the request
to paktua chief regiments @spidyxero..

write -#FCB@stockraider


tut tut
be pleasure if you can

Posted by happysummer > 2020-06-06 08:42 | Report Abuse

#FCB@Sslee

Posted by Sslee > 2020-06-07 09:23 | Report Abuse

Dear Paktua73,
Sorry just noticed your invitation for me to join paktua chief regiments @spidyxero.
May I ask what is #FCB@Sslee?

By the way thank for the invitation and be frank I’m no good at investment, make some during last year O&G bull run and totally miss out the recent Glove bull run. I like to write political current affair rather than any hot and sexy stocks. Below is my recent write up at Tun M blog:
https://klse.i3investor.com/blogs/Sslee_blog/2020-06-06-story-h1508664959-We_can_t_breathe_Covid_19_pandemic_racism_and_political_economic_crisis.jsp

My best wishes to you in leading your regiments to more success.

Thank you

Posted by stockraider > 2020-06-07 12:30 | Report Abuse

After chinese new year could also mean by end of the year mah..!!

Look we have covid19, trade war, political impasses....thus need time mah.....!! At the end the deep margin of safety and the fundamental will win mah....!!

Just have patience u will never regret, just join sslee he has done alot of learned deep research on insas mah...!!

Buy loh...if u already have stocks buy more mah...!!

Posted by Philip ( buy what you understand) > Jun 3, 2020 1:45 PM | Report Abuse

How come stockraider you promise the stock will jump to rm1 after Chinese New year, why the share price crash? Sohai?

Posted by stockraider > Jun 3, 2020 12:41 PM | Report Abuse X

Lu pakai otak lah...! Bodoh...!!

That day sell down in march to as low as 40 sen mah...!!

Now already up more than 50% loh...!!

Tell me which of your stock up 50% within 3 mths leh ??

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > Jun 3, 2020 12:22 PM | Report Abuse

Why is this undervalued stock getting cheaper?!

Posted by stockraider > 2020-06-07 12:35 | Report Abuse

Remember Insas has rebounded from 40 sen in march to 64 sen now, quite credible rebound despite poor March 2020 quarter loh...!!

Why rebound despite very poor quarter profit leh ??

SOMETHING IS BREWING MAH...!!

Posted by HuatAh8809 > 2020-06-08 19:55 | Report Abuse

This one better or inari better?

Posted by wwg2 > 2020-06-10 09:57 | Report Abuse

why qr so bad arH?

Posted by wwg2 > 2020-06-10 10:11 | Report Abuse

Is it because of the loss of financial assets?

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2020-06-10 20:07 | Report Abuse

>>>>

stockraider Remember Insas has rebounded from 40 sen in march to 64 sen now, quite credible rebound despite poor March 2020 quarter loh...!!

Why rebound despite very poor quarter profit leh ??

SOMETHING IS BREWING MAH...!!
07/06/2020 12:35 PM

>>>>>>

In fool's paradise. One must have honesty. Above all, be truthful with your own inner self.



Insas car rental business is in deeper trouble. Its other businesses too.

Posted by Sslee > 2020-06-10 20:36 | Report Abuse

Dear 3iii,
Please tell us what are insas other business?

Posted by Sslee > 2020-06-10 21:13 | Report Abuse

Dear all,
Inari shares held by Insas: Inari is one of the associate companies of Insas
(1) Insas Technology Berhad - 434,769,375
(2) Media Lang Limited - 66,016,500
(3) Insas Plaza Sdn Bhd - 114,367,700
(4) Montego Assets Limited - 200,000
Total: 615,353,575.00

Number of INSAs shares issued: 663,006,342 (excluding 30,327,291 treasury shares). One Insas share indirectly hold 615,353,575/663,006,342 = 0.928 Inari
Can 3iii answer the below question.

Why buying one Inari at RM1.71 when you can use the same money to buy 2.55 insas at 67 cents then you still indirectly hold 2.37 Inari and everything else in Insas?

You can look into segmental report Q2 and Q3 to have better understanding of segmental performance.
Financial services and credit &leasing: Investment holding and trading: Technology and IT-related manufacturing, trading and services: Retail trading and car rental: Property investment and development end Q2 and end Q3 (RM’000)
Profit/(loss) before tax: 19,287: 8,244: 21,644: 2,252: 3,386: Total 54,813
Profit/(Loss) before tax: 23,083: (56,506): 28,896: 3,173: 6,482: Total 5,128

Note: the Q3 losses are mark to market financial assets at 31th March 2020 compare to 31/12/2019
IGBREIT annual report 31-12-2019: Montego Assets Limited (PCB) 10,000,000
Market price 31/12/2019: RM 1.89: 31/03/2020: RM 1.59

Omesti annual report: 31-3-2019: Insas Berhad – – 48,659,500
Market price 31/12/2019 RM 0.51: 31/03/2020: RM 0.45

OCBC Market price 31/12/2019 SG 10.98: 31/03/2020: SG 8.64

AUD deposit Refer Financial report 2019 RM equivalent 167,694,000
Loss on exchange differences- unrealized: RM (9,454,000)
AUD to MYR: 31/12/2019 RM 2.877: 31/03/2020: RM 2.672

How much mark to market financial assets will be written back in Q4 will depend on 30/6/2020 closing price.

Posted by Kctai3007 > 2020-06-10 22:01 | Report Abuse

SSLee

Until and unless Insas distributes some or all of its holding of inari shares to us long- suffering shareholders, the extreme undervaluation will remain

Posted by stockraider > 2020-06-10 23:03 | Report Abuse

If u listen this sohai 3iii u will go holland loh...!!

Remember Insas is on the route to Rm 1.00, all the positive factors are cranking upwards loh...!!

Don forget inari has rebounded from Rm 0.90 to above Rm 1.70 and the stock market is kicking upwards which augurs well for insas hathaway mah.....!!

Just look at SSlee comment, it makes alot of sense mah...!!

This sohai 3iii gets distracted by insas small car rental business loh!!

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > Jun 10, 2020 8:07 PM | Report Abuse

stockraider Remember Insas has rebounded from 40 sen in march to 64 sen now, quite credible rebound despite poor March 2020 quarter loh...!!

Why rebound despite very poor quarter profit leh ??

SOMETHING IS BREWING MAH...!!
07/06/2020 12:35 PM

In fool's paradise. One must have honesty. Above all, be truthful with your own inner self.

Insas car rental business is in deeper trouble. Its other businesses too.

Posted by Sslee > Jun 10, 2020 9:13 PM | Report Abuse

Dear all,
Inari shares held by Insas: Inari is one of the associate companies of Insas
(1) Insas Technology Berhad - 434,769,375
(2) Media Lang Limited - 66,016,500
(3) Insas Plaza Sdn Bhd - 114,367,700
(4) Montego Assets Limited - 200,000
Total: 615,353,575.00

Number of INSAs shares issued: 663,006,342 (excluding 30,327,291 treasury shares). One Insas share indirectly hold 615,353,575/663,006,342 = 0.928 Inari
Can 3iii answer the below question.

Why buying one Inari at RM1.71 when you can use the same money to buy 2.55 insas at 67 cents then you still indirectly hold 2.37 Inari and everything else in Insas?

You can look into segmental report Q2 and Q3 to have better understanding of segmental performance.
Financial services and credit &leasing: Investment holding and trading: Technology and IT-related manufacturing, trading and services: Retail trading and car rental: Property investment and development end Q2 and end Q3 (RM’000)
Profit/(loss) before tax: 19,287: 8,244: 21,644: 2,252: 3,386: Total 54,813
Profit/(Loss) before tax: 23,083: (56,506): 28,896: 3,173: 6,482: Total 5,128

Note: the Q3 losses are mark to market financial assets at 31th March 2020 compare to 31/12/2019
IGBREIT annual report 31-12-2019: Montego Assets Limited (PCB) 10,000,000
Market price 31/12/2019: RM 1.89: 31/03/2020: RM 1.59

Omesti annual report: 31-3-2019: Insas Berhad – – 48,659,500
Market price 31/12/2019 RM 0.51: 31/03/2020: RM 0.45

OCBC Market price 31/12/2019 SG 10.98: 31/03/2020: SG 8.64

AUD deposit Refer Financial report 2019 RM equivalent 167,694,000
Loss on exchange differences- unrealized: RM (9,454,000)
AUD to MYR: 31/12/2019 RM 2.877: 31/03/2020: RM 2.672

How much mark to market financial assets will be written back in Q4 will depend on 30/6/2020 closing price.

Posted by stockraider > 2020-06-10 23:50 | Report Abuse

How to value overvalue QL leh ??

QL is a conglomerate and consist of 4 types of business mah...!!

1. Chicken & egg business- bench mark against LHI pe 16.4
2. Palmoil business- benchmark against hapseng PE 18.1x
3. Retail business-benchmark against AEON PE 17.8x
4. Fish business- benchmark against charoaen Pokhand Pe 26x

Thus overall average PE of QL should be 19.5x or say 20x mah...!!

QL fair value should be as follows; Eps rm 0.15 x 20x = Rm 3.00.

At Rm 9.18 v fair value Rm 3.00, there is a negative margin of safety or over valuation of Rm 6.18 loh...!!

So if u continue to hold QL, u are in danger of losing 67% of your capital or Rm 6.18 mah....!!

Better to sell QL at Rm 9.19 b4 too late if u want to hide u may buy insas at Rm 0.67 which has huge margin of safety mah....!!

Don be a sohai...hanging around on overvalue QL loh....!!

Posted by Philip ( buy what you understand) > 2020-06-11 07:15 | Report Abuse

To be honest, QL and INSAS is very similar.

Except that every new business QL jumps into is hugely profitable and scalable.

INSAS has a lot of ideas which is good, but if it doesn't make money then it's not a business but merely a drain to the nice dividends from INARI.

QL businesses are all growing at a prodigious rate due to synergy and capable managers.

INSAS has investments and businesses that are everywhere and trying to do everything, while relying on the successful business INARI to pay for the lights.

In most cases, businesses that try to do everything almost never succeed.

But who knows? If Berkshire can do it, then INSAS surely can right?

Posted by Sslee > 2020-06-11 09:51 | Report Abuse

Good morning Philip,
Forewarned to be forearmed on QL
https://klse.i3investor.com/blogs/teoct_blog/2020-04-25-story-h1506135641-QL_one_year_on_any_changes.jsp

Revenue generated from the asset deployed for the various segments. It does not look good at all. Palm oil is returning less than one ringgit (RM0.65) as well as marine products (0.88) while integrated livestock farming is above one ringgit (1.11)

The operating expenses to revenue are unfortunately increasing yearly. Diving into the cost make-up, the two biggest item is depreciation of PPE and staff costs.

QL does not generate enough cash (from operation) for investing in the necessary PPE. It takes loan and obviously the debt to equity ratio has been creeping up. Also, its ability to generate cash from operation is rather erratic (the blue line).

With all the above added together, the indication is that while gross margin is improving, the ever-lower staff productivity, low return of PPE plus increasing financing cost from higher debts all cut into the net margin that is now approaching 6%. The trend is, net margin will reduce further going forward.

The net profit growth rate is lower than the revenue growth rate in the past three years. Return on equity (ROE) is also on a down trend.

Posted by qqq33333333 > 2020-06-11 09:53 | Report Abuse

sslee very quiet in telegram group.

Posted by qqq33333333 > 2020-06-11 10:02 | Report Abuse

calculate this calculate that not to say no good but is it any more accurate than what this Philip employs?


look at Tesla/ Elon Musk.............one rock star, calculate also no use, will only miss out..............and FOMO...............

Posted by Sslee > 2020-06-11 10:02 | Report Abuse

Good morning qqq3,
What telegram group? The DK66/JAKS group? and why private group when i3 is an open forum and every views and opinions are welcome.

Posted by qqq33333333 > 2020-06-11 10:03 | Report Abuse

philips group, saw u have registered.......

Posted by Sslee > 2020-06-11 10:17 | Report Abuse

Ya, I'm too scare to comment in Philip's telegram group.

Airline stocks performed remarkably well in the stock market on Friday, June 5, a performance echoed on Monday, June 8. On Friday, shares of American Airlines surged 11.18% while Delta and United Airlines advanced 5.5% and 8.45%, respectively. For American in particular, the Friday market action was a continuation of a torrid Thursday, when the stock rose 40% after the company said it planned to fly about 55% of its 2019 domestic capacity in July, it flew just 20% of its schedule in May. (Don’t ask about international demand, unless you are a pallet or package.)

The performance of the airline stocks attracted the attention of many, including that of President Trump. In a news conference on Friday, Trump said billionaire investor and Berkshire Hathaway Chairman Warren Buffett dropped the ball when he dumped his airline holdings in April.
"Warren Buffett sold airlines a little while ago," Trump said. "He's been right his whole life, but sometimes even someone like Warren Buffett — I have a lot of respect for him — they make mistakes. They should have kept the airline stocks, because the airline stocks went through the roof today."

https://www.bloomberg.com/news/articles/2020-06-03/-bored-millennials-boost-airline-etf-to-1-billion-in-assets

Posted by qqq33333333 > 2020-06-11 10:45 | Report Abuse

Posted by Sslee > Jun 11, 2020 10:17 AM | Report Abuse

Ya, I'm too scare to comment in Philip's telegram group.
=========

u go to his house, u are a guest, so give him face a bit la...no need to be scared............nice house...........

Posted by stockraider > 2020-06-11 11:13 | Report Abuse

This qqq is a sohai loh...!!

If u go pasar pudu & buy kobis from ahfah....surely u expect ahfah to tell u how much per kg & weight, then she tell u how much to pay mah...!!

The process above is call calculation mah...!!

If ahfah just pick up the kobis & just tell u pay Rm 10 surely u disagree & make hell alot of noise mah...!!

Use your brain to think lah qqq !!

Posted by qqq33333333 > Jun 11, 2020 10:02 AM | Report Abuse

calculate this calculate that not to say no good but is it any more accurate than what this Philip employs?


look at Tesla/ Elon Musk.............one rock star, calculate also no use, will only miss out..............and FOMO...............

Posted by Kctai3007 > 2020-06-11 11:18 | Report Abuse

At the risk of repeating myself ad nauseum, the following share buyback statement in the annual report is very detrimental to minority shareholders:

“The Company does not intend to undertake the Proposed Share Buy-Back such that it will trigger any obligation on the Major Shareholders and/or person acting in concert with them to undertake a mandatory general offer pursuant to the Code”

The solution is very simple as also detailed in the statement elsewhere - DS Thong can apply for a waiver as specially provided under para 4.15

Posted by Kctai3007 > 2020-06-11 11:18 | Report Abuse

I hope enough of us will protest about this at the upcoming AGM

Posted by Kctai3007 > 2020-06-11 11:20 | Report Abuse

If Insas doesn’t want to do buy back because DS Thong doesn’t want to apply for a waiver, we will never be able to unlock the value

Posted by qqq33333333 > 2020-06-11 18:10 | Report Abuse

raid can use different name and visit Philip house...............

Posted by stockraider > 2020-06-13 13:11 | Report Abuse

As an engineer u r not capable on advice on margin of safety mah..!!

Why leh ??
If your current account have Rm 1m earning zero ROE and Zero earnings growth and some one offer to buy over your bank account for Rm 300k cash would u sell leh ??

OF COURSE NOT MAH...!!

BUT SOME SOHAI LIKE PHILIP & 3iii TELL PEOPLE TO SELL LOH...!!

U NEED TO HAVE COMMON SENSE MAH...!!

INSAS IS PRECISELY THE ABOVE CASH in the current account EXAMPLE MAH...!!

posted by Philip ( buy what you understand) > Jun 13, 2020 12:58 PM | Report Abuse

Again with simplified accounting.

Growth companies give up short term earnings for long term growth. You still look at market cap and pe only, why?

Look at the ROE versus peers
Look at the revenue and growth% over time versus peers
Look at the earnings and growth % over time versus peers
Look at the capex used versus long term returns, the history of rights issues and private placements versus growth of the business.

Look to the returns of their palm oil business and compare that with your area of competence, how does it compare?

Yes, I do think you are greedy because you want to "protect" shareholders, but you do not have the ability to really protect them as a Carl icahn corporate raider and straighten out businesses properly, but rather a mouse that cannot be heard with no capability.

You try to tell 3i what to do, but his results thus far seem to be better than yours.

Yes I think you are greedy. Instead of growing together with a company and being a part of their growth, your way of investing is the call Icahn way. Take a company, sell it for parts, and sell the business and walk away.

You had no understanding of Xinquan business but you buy it simply for its cash in bank.

You have no understanding of INSAS business or ever used it's services, and you buy it just because of its 1.7b in assets.

Always the same story. All you look at is assets assets assets. And you want to be like Icahn and tell the owners and managers of the company what to do. All you want is your dividends and your money.

How is that not greed? What you really want is to kill the fat hen for its eggs. Dividend, dividend, dividends.

That is pure greed.

Investors should be like those who buy Berkshire. They don't want to keep asking for dividends and money. But they like the feeling of being a part owner in a successful growing business that grows larger and larger over time and generates earnings. If those earnings turn into dividends or reinvestments do not matter, as long as the business does the best decisions for all the shareholders.

If I am investing in QL I look to participate in the growth of the business over time, growing revenues and earnings and assets. That is the job of a real investor and owner. Not to keep asking when they will be adding a dividend.

Maybe you are unhappy over the greed of management, taking far paychecks and stock options.

Posted by stockraider > 2020-06-13 13:59 | Report Abuse

Another sohai talk by Philip loh...!!

The bets is for bet on 1 year and 2 year performance in respect of QL v Insas v MNRB mah....!!

Whoever losses buy bah kut teh lunch....mah....!!

But year 1 result already out.1st is insas 2nd is MNRB and last was QL.

Now year 2 QL appear is leading loh...!!

Question

1. Does Philip honor the year 1 result ??

2. How did 100 kids from st barnabas come into the picture of the bet leh ??

Of course if Philip is prepare to honor, he foot the bills taking into account QL was last in the 1st year....then by all means, if he like bring the 100 kids along loh...!!

Posted by Philip ( buy what you understand) > Jun 13, 2020 1:22 PM | Report Abuse

I think I have enough of your nonsense. I will be arranging for 100 kids from St. Barnabas Home to enjoy bak kut teh at the end of the year. The total expenditure will be RM5,000. The results will be revealed in our 2 year bet on QL versus Insas.

So, if at the end of the period, you do not attend the bak kut teh lunch, I fully expect you to donate 5K to the charity home of St. Barnabas in Klang.

QL - 0.69 (today 9.17)
Insas - 0.69 (today 0.63)

How is your margin of safety now after 2 long year? For SSLEE it will be more than 3 years of him holding unto INSAS with his corporate raider concepts.

Posted by Kctai3007 > 2020-06-17 10:36 | Report Abuse

Insas sold 5m inari shares in the past couple of days

Although inari is classified as an associate, it is not a core holding as the shares are periodically sold

Why can’t some of the inari shares be distributed to us?

Posted by Sslee > 2020-06-17 13:31 | Report Abuse

Haha so addition 5+ million profit for Insas.

Posted by Sslee > 2020-06-17 13:35 | Report Abuse

Holding cost of inari to insas is abt 40+cents.

Posted by Kctai3007 > 2020-06-17 15:22 | Report Abuse

To be frank, all this profit does is improve the NTA of Insas and make the already-great undervaluation greater, without any benefit to the shareholders via a higher share price

Time to do something else

Posted by Kctai3007 > 2020-06-25 19:09 | Report Abuse

I am despairing of the counter

The price doesn’t go up when others do but will follow suit when others go down

Posted by stockraider > 2020-06-25 19:14 | Report Abuse

Why despair & despair leh ??

The shareholders fund of insas has been growing & growing mah...!!

This is what insas management should do by growing the company & they have done reasonably well mah....!!

If the share price did not move up so strongly, it is another matter to be addressed mah....!!

Posted by Kctai3007 > Jun 17, 2020 3:22 PM | Report Abuse

To be frank, all this profit does is improve the NTA of Insas and make the already-great undervaluation greater, without any benefit to the shareholders via a higher share price

Time to do something else



Posted by Kctai3007 > Jun 25, 2020 7:09 PM | Report Abuse

I am despairing of the counter

The price doesn’t go up when others do but will follow suit when others go down

Posted by SaraInvestment > 2020-06-25 22:55 | Report Abuse

:)

Posted by Sslee > 2020-06-26 11:50 | Report Abuse

Dear all,
Can look into my comments on Gkent forum to decide whether you want to switch INSAS to Gkent (Philip favorite)

Posted by Kctai3007 > 2020-06-26 17:02 | Report Abuse

SSLee

Are you switching?