Posted by Sslee > 2020-06-26 17:05 | Report Abuse

@Kctai3007,
Not selling Insas. But will buy some Gkent.

Posted by Kctai3007 > 2020-06-26 17:12 | Report Abuse

SSLee

FYI the controlling shareholder of Ruberex bought a 20.6% stake to increase his interest from 29.5% to 50.1% and triggered an UNCONDITIONAL mgo

I suspect DS Thong may do a similar transaction by buying a say 18% stake in Insas

If the purchase is at say 80 sen, the mgo will be at 80 sen also and we will never be able to realise the value in the company

Posted by Sslee > 2020-06-26 17:44 | Report Abuse

@Kctai3007,
You can look into top 30 shareholders and ANALYSIS BY SIZE OF HOLDINGS as on 30th June 2019 to see whether there are any other holding 18% and want to sell to DS Thong at 80 cents?

Size of holdings: No. of shareholders: %: No. of ordinary shares: %
Less than 100: 2,255: 8.76: 80,556: 0.01
100 - 1,000: 1,761: 6.85: 740,132: 0.11
1,001 - 10,000: 17,083: 66.40: 60,053,934: 9.06
10,001 - 100,000: 4,115: 16.00: 111,530,776: 16.82
100,001 - 33,150,317: 510: 1.98: 399,506,131: 60.26
33,150,318 and above: 2: 0.01: 91,094,813: 13.74
25,726: 100.00: 663,006,342: 100.00

Posted by Kctai3007 > 2020-06-26 17:50 | Report Abuse

SSLee

It is possible that 5 of his nominees could have been collecting say 3-4% each, and they may already have collected 18% in total

Your shareholders list is NOT current

Posted by stockraider > 2020-06-26 17:55 | Report Abuse

Why settle for pittiance of 80 sen when u go for the big one of above Rm 2.00 leh ??

Posted by Kctai3007 > Jun 26, 2020 5:12 PM | Report Abuse

SSLee

FYI the controlling shareholder of Ruberex bought a 20.6% stake to increase his interest from 29.5% to 50.1% and triggered an UNCONDITIONAL mgo

I suspect DS Thong may do a similar transaction by buying a say 18% stake in Insas

If the purchase is at say 80 sen, the mgo will be at 80 sen also and we will never be able to realise the value in the company

Posted by Kctai3007 > Jun 26, 2020 5:50 PM | Report Abuse

SSLee

It is possible that 5 of his nominees could have been collecting say 3-4% each, and they may already have collected 18% in total

Your shareholders list is NOT current

Posted by Kctai3007 > 2020-06-26 17:59 | Report Abuse

Stockraider

I also want to go for the big one but just want to caution that we may not be able to get it

Posted by Kctai3007 > 2020-06-26 18:01 | Report Abuse

SSLee

Please remember that DS Thong has DAILY access to the shareholders list

Posted by Sslee > 2020-06-26 18:23 | Report Abuse

@kctai3007,
Listen to leno advice:
Posted by leno > Apr 17, 2020 11:15 PM | Report Abuse
i tell u ... u go agm dun waste time tok kok ... just ask BOD what they plan to invest, acquire and buy. Just shut up and listen. Do not argue ... LEARN from them, how they value company, what is their strategy, what is the opportunity, where and when. Share price is not their business. Their business is investing. If u ask these ... i tell u, they will be so HAPPY to share their valuable view. Ada faham ?

Next AGM ask BOD the growth potential of Sengenics and any plan to list Sengenics in Singapore or US?

https://www.sengenics.com/press-releases/
June 23, 2020
Sengenics, the Functional Proteomics Company, today announced the launch of ImmuSAFE™ COVID+, a multi-antigen, multi-domain, fully quantitative serology test. ImmuSAFE™ enables the determination of the target epitopes, titres and Ig class/sub-class (IgG, IgA, IgM; IgG1-4) of antibodies produced across all stages

June 18, 2020
Sengenics, the Functional Proteomics Company, announced today that it has entered into a research collaboration agreement with GlaxoSmithKline (GSK). The collaboration will combine Sengenics’ functional proteomics capabilities with GSK’s scientific expertise in immunology, especially in drug discovery

Posted by Kctai3007 > 2020-06-26 18:28 | Report Abuse

It’s very frustrating when you can see but cannot reach

Posted by Kctai3007 > 2020-06-27 14:26 | Report Abuse

SSLee

In the Ruberex transaction, the vendors were Sheng Sheng Enterprise (24.6m), DS Chiau (22.6m) and a Mr Peh (10m)

Apart from Sheng Sheng Enterprise which had 12m shares then, the other two were not included as top 30 shareholders as at 30 April, only 2 months ago

It just goes to show how changeable a company’s shareholders can be

Posted by SaraInvestment > 2020-06-27 21:06 | Report Abuse

:)

Posted by Sslee > 2020-06-28 10:45 | Report Abuse

@Kctai3007,
If you suspect something fishy about the deal then you can make an official complaint to SC and Bursa to investigate why the vendors Sheng Sheng Enterprise (24.6m), DS Chiau (22.6m) and a Mr Peh (10m) selling much below market price when the market trading volume have no problems in absorbing the amount the vendors intend to sell?

Date: Open: Range: Close: Change: Volume
26/06/2020: 2.85: 2.77 - 2.86: 2.78: -0.05 (1.77%): 3,384,700
25/06/2020: 2.85: 2.83 - 2.88: 2.83: -0.02 (0.70%): 4,032,600
24/06/2020: 2.85: 2.84 - 2.93: 2.85: +0.02 (0.71%): 4,737,200
23/06/2020: 2.83: 2.81 - 2.94: 2.83: -0.09 (3.08%): 11,038,800
22/06/2020: 2.86: 2.84 - 3.01: 2.92: +0.04 (1.39%): 57,248,500
19/06/2020: 2.66: 2.65 - 2.91: 2.88: +0.15 (5.49%): 9,013,400
18/06/2020: 2.85: 2.63 - 2.88: 2.73: -0.13 (4.55%): 5,680,300
17/06/2020: 3.02: 2.81 - 3.03: 2.86: -0.13 (4.35%): 4,384,300
16/06/2020: 2.96: 2.90 - 3.07: 2.99: +0.24 (8.73%): 6,864,600
15/06/2020: 3.20: 2.75 - 3.28: 2.75: -0.39 (12.42%): 9,691,200
12/06/2020: 2.75: 2.73 - 3.24: 3.14: +0.11 (3.63%): 9,757,300
11/06/2020: 3.38: 3.02 - 3.47: 3.03: -0.31 (9.28%): 12,351,700
10/06/2020: 3.32: 3.25 - 3.55: 3.34: -0.11 (3.19%): 9,759,300
09/06/2020: 3.88: 3.34 - 3.92: 3.45: -0.18 (4.96%): 12,887,000
05/06/2020: 3.86: 3.50 - 4.05: 3.63: -0.08 (2.16%): 23,967,500
04/06/2020: 2.80: 2.75 - 3.72: 3.71: +0.78 (26.62%): 31,014,100
03/06/2020: 3.58: 2.66 - 3.58: 2.93: -0.87 (22.89%): 36,244,900
02/06/2020: 4.54: 3.66 - 4.54: 3.80: -0.74 (16.30%): 34,641,500
01/06/2020: 3.65: 3.65 - 4.54: 4.54: +0.98 (27.53%): 24,568,400

Posted by Kctai3007 > 2020-06-28 19:03 | Report Abuse

Actually, the article in the Star yesterday is not correct because until about 3 months ago, the Ruberex price never exceeded RM1

There is nothing wrong in selling at RM1.80

The point I am trying to make is that it is quite easy for DS Thong to accumulate 18% of Insas through his nominees and then “cross” the block to trigger the unconditional MGO

Posted by W1-1K > 2020-07-03 14:57 | Report Abuse

Uptrend is moving. Buy now.......

Posted by Kctai3007 > 2020-07-04 10:07 | Report Abuse

Insas sold another 13.5m inari shares yesterday

Posted by xjteh > 2020-07-05 13:21 | Report Abuse

once Insas stands firm above 0.67, a breakout is confirmed, new wave up is coming with TP: 0.90.

Posted by stockraider > 2020-07-05 13:22 | Report Abuse

DO NOT DESPAIR LOH...2ND WAVE COMING MAH....!!

IN FACT SOHAI PHILIP QL EVEN LOSE TO INSAS ROUND 1 ON A 2 TIER BETS LAST YEAR, WHICH PHILIP REFUSE TO ADMIT DEFEAT MAH...!!

I WILL BRING OUT THE EVIDENCE , IF ONLY, I LOSE ROUND 2, BUT INSAS STILL HAS STAND A GOOD CHANCE OF BEATING QL, EVEN IN ROUND 2 WHICH HAVE ANOTHER 6 MONTHS TO GO MAH....SO I JUST WAIT & SEE LOH..!!


Posted by Sslee > Jul 5, 2020 12:49 PM | Report Abuse

Haha,
Insas closed at 0.905 on 24/1/2020 on the eve of CNY. So General Raider missed the TP by 10%.

At 0.905 I would had earned book gain of 90K

Posted by xjteh > 2020-07-06 11:32 | Report Abuse

Insas has breakout successfully. However, there is a gap 0.675-0.680 remain due to the price gap up this morning. I will just top up around 0.68 to ride on the uptrend to 0.90. cheers!!

Posted by Sansing > 2020-07-07 16:36 | Report Abuse

Shooting star appeared ,sell sign

Posted by abang_misai > 2020-07-09 19:11 | Report Abuse

Lucky bought some before closing. Free warrants

Posted by TheContrarian > 2020-07-09 20:07 | Report Abuse

Rights issue.

Posted by AnchoviesswimwithSha > 2020-07-09 22:32 | Report Abuse

https://www.theedgemarkets.com/article/insas-raise-rm133m-renounceable-rights-issue-repay-loans

Posted by Sslee > 2020-07-09 23:46 | Report Abuse

Haha,
RPS with free warrant again like what leno predicted but this time I will oppose the proposal.

Posted by whitebunny > 2020-07-10 00:17 | Report Abuse

Good or bad news?

Posted by PenguinDad > 2020-07-10 07:58 | Report Abuse

Can be good is use wisely but bad is asking for more money from shareholder. Ha...

Posted by Investor 999 > 2020-07-10 08:51 | Report Abuse

It is good to have right issue every 5 years for the 30 years !

Posted by leno > 2020-07-10 09:20 | Report Abuse

i really pity u all .... i give u one "last tip" ... TP is RM 1.25

Posted by Sslee > 2020-07-10 09:21 | Report Abuse

Good question from Investor 999.
To me the answer is not good.
So what will you do if you are the minority shareholdets?

Posted by leno > 2020-07-10 10:12 |

Post removed.Why?

Posted by Sslee > 2020-07-10 10:41 | Report Abuse

Dear all,
How much Q3 losses mark to market financial assets at 31th March 2020 compare to 31/12/2019 will be write back base on closing 30/6/2020
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 : 30/6/2020: RM 1.79

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 : 30/6/2020: RM 0.52

SYF – 50,015,200
Market price 31/12/2019: RM 0.165: 31/03/2020: RM 0.155 : 30/6/2020: RM 0.13

OCBC Market price 31/12/2019 SG 10.98: 31/03/2020: SG 8.64: 30/6/2020: RM 9.00

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: 30/06/2020: RM 2.96

Posted by Sslee > 2020-07-10 10:49 | Report Abuse

Haha just to spoil leno's day.
Part of my email to the Board (the other part I keep it as P&C for now)

I do not wish to see history repeat itself again where major rich shareholders benefited at the expense of minority shareholders or new shareholders. It is time now to reward the existing shareholders with a better dividend and unlocking the INSAS value.

I hope the Board will put a stop to the proposed RPS when INSAS is cash rich and hence wrong in principle to raise funds with the purpose of repaying the Group’s bridging loans. If the Board insists on the above RPS then I have no choice but to mobilize shareholders to vote against the proposal and gather 50 shareholders in putting in our own Resolutions for voting on the coming AGM.

1. Distribution of 1 ordinary Inari share for every 10 existing ordinary Insas shares of RM1.00 each held in the company. Note: With 66.3 million Inari share for distribution Insas will still hold 529.55 million Inari shares (16.27%)


Hope the Board will discharge their fiduciary duty fairly to all INSAS shareholders by withdrawing the proposed RPS with free warrants and instead propose something that will unlock INSAS value and benefit all the INSAS shareholders.

Looking forward for a favorable response from the Board.

Thank you.
Have a productive day.

Yours Sincerely,
Lee Soon Sheng.

PS: The Board needs to break the vicious circle of RPS with free warrant every 5 years which only serve like a hanging noose on INSAS neck where INSAS market price will be depressed due to new investors not investing in INSAS for fear of outstanding warrant dilution effects. (For the past 5 years INSAS hardly break RM 1.00 due to this fear of dilution effect of outstanding 265,202,536 WB (2015-2020) conversion at RM 1.00) Board need to think out of box to unlock the INSAS value for the benefit of all the INSAS shareholders.

Posted by Philip ( buy what you understand) > 2020-07-10 11:08 | Report Abuse

What is shit and what is cake. Sadly, now sslee realize the truth of his investment in INSAS. Who really benefits from this investment?

Posted by leno > 2020-07-10 11:30 |

Post removed.Why?

Posted by Sslee > 2020-07-10 11:48 | Report Abuse

Haha leno,
Why want to settle for TP of RM 1.25 when the true value should be much much higher?

Posted by leno > 2020-07-10 12:02 | Report Abuse

c2peed donkey ... that is TP for today ...

Posted by Sslee > 2020-07-10 14:24 | Report Abuse

Dear leno,
Thank you for clarification that INSAS TP of RM 1.25 is for today.

Try to key in Q sell Insas shares at RM 1.25 to give my support to leno. But sell price was not accepted with message:
Price entered is above limit. Maximum allow is RM 1.040.
Will try again tomorrow.

INSAS Canteeeeeeeeeeeek!

Posted by Sslee > 2020-07-10 14:27 | Report Abuse

Correction.
Will try again next week

Posted by Thinkcarefully > 2020-07-11 07:35 | Report Abuse

In the long term the RPS and free warrants proposal is positive for minority shareholders.With interest on the downtrend and FD 2% I think I would accept the proposals. The free warrants is another icing on the cake.
Anyone remember previous warrants traded at what price.?

Posted by Sslee > 2020-07-11 09:23 | Report Abuse

Haha,
Warrants expired out of money and General Raider has his lucky escape with buying at half cent and selling at half cent.

Posted by Sslee > 2020-07-11 09:52 | Report Abuse

Dear all,
I am not against the minority shareholders interest. I just have a second thought on those do not have saving to take up the RPS subscription with free warrants and force to sell the shares cheaply now.

Please do not sell your INSAS shares now to enrich the already rich people.
Insas is severely undervalue because previously the value was locked or freeze by the uncertainty of outstanding warrant at conversion price of RM 1.00 and whether DST will convert his warrants and trigger an MGO or will he applied for a waiver of MGO.

I am against another huge amount of warrants 331,510,380 that will weight down the INSAS market price again post RI.

So please do not sell your INSAS cheaply now and benefited the rich buyers. If you have to sell your INSAS shares then please wait until it is close to leno’s TP of RM 1.25 for leno to collect from you.

I thanks all from the bottom of my heart.

Posted by Thinkcarefully > 2020-07-11 11:02 | Report Abuse

During the last identical exercise,I dont think anyone converted their warrants because they were out of money. RPS werent convertible, so there was no dilution of shares as far as I know. I just hope that with the new RPS, the BOD would not reduce the dividend back to 1 sen.That would really piss me and all other minority shareholders off.

Posted by BLee > 2020-07-11 14:33 | Report Abuse

Dear Sslee,
Since your message addressed to all (me inclusive), I am obliged to give my opinion. Please see my opinion wrt to your write up. No offence intended.

Posted by Sslee > Jul 11, 2020 9:52 AM | Report Abuse 

Dear all,
Sslee: I am not against the minority shareholders interest. I just have a second thought on those do not have saving to take up the RPS subscription with free warrants and force to sell the shares cheaply now.

BLee: RPS unlike RI, will not dilute shareholding. Free warrants just the icing, many won't convert as usually conversion price much higher than current share price. Selling shares cheaply will have nothing to do with RPS..

Sslee: Please do not sell your INSAS shares now to enrich the already rich people.
Insas is severely undervalue because previously the value was locked or freeze by the uncertainty of outstanding warrant at conversion price of RM 1.00 and whether DST will convert his warrants and trigger an MGO or will he applied for a waiver of MGO.

BLee: Noted. No comment.

Sslee: I am against another huge amount of warrants 331,510,380 that will weight down the INSAS market price again post RI.

BLee: RPS, not RI. Respect your opinion.

Sslee: So please do not sell your INSAS cheaply now and benefited the rich buyers. If you have to sell your INSAS shares then please wait until it is close to leno’s TP of RM 1.25 for leno to collect from you.

I thanks all from the bottom of my heart.

BLee: In conclusion, if whoever think can get higher than 3.8%pa+free warrants, should not subscribe. It is just a business deal.
In return, many thanks to Sslee for his untiring effort to promote Insas. Happy trading to all.

Posted by 3101575000 > 2020-07-11 14:54 | Report Abuse

Tqvm for your comment .

Posted by 3101575000 > 2020-07-11 14:55 | Report Abuse

BLee and Sslee

Posted by Sslee > 2020-07-11 15:18 | Report Abuse

Dear BLee,
Thank you for your understanding,
RI short form for Rights Issue and in this case the RI according to the announcement:
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3067468

PROPOSED RENOUNCEABLE RIGHTS ISSUE OF UP TO 132,604,152 REDEEMABLE PREFERENCE SHARES ("RIGHTS RPS") IN INSAS TOGETHER WITH UP TO 331,510,380 FREE DETACHABLE WARRANTS ("WARRANTS") ON THE BASIS OF 2 RIGHTS RPS AND 5 WARRANTS FOR EVERY 10 EXISTING ORDINARY SHARES AT AN ISSUE PRICE OF RM1.00 PER RIGHTS RPS

For many year when I ask for better dividend or dividend policy at the AGM the standard reply:
The Board has adopted a prudent and conservative dividend payout mindful of the obligations to redeem RM132 million of Redeemable Preference Shares, which are due for redemption by end February 2020

So if you refer AGM minutes:
Ms Foo Lee Meng from Grant Thornton Malaysia replied that the bank balances and deposits have been verified by way of inspection of bank statements and direct written confirmation from the banks and financial institutions, and the auditors are satisfied that Insas Group has the said amount of cash with the banks and financial institutions.

Q3 Financial end 31th March 2020 Balance sheet
Deposits with licensed banks and financial institutions: RM 493,049,000
Cash and bank balances: RM 228,153,000

Hence not a problem for INSAS to use deposits to repay the bridging loan of RM 132 million. In fact I suggest to Board to replace Rights Issue with Bonus issue of up to XXXXXXX free warrants to existing INSAS shareholders. So hold tight to your INSAS share and do not sell cheaply.

Thank you

Posted by rogers123 > 2020-07-11 16:05 | Report Abuse

Buy insas!

Posted by Thinkcarefully > 2020-07-11 16:23 | Report Abuse

The right RPS is redeemable but not convertible.So no dilution from RPS.
The exercise price of the warrant will be based on 5 DVWP. In the previous exercise Insas was trading 90sen early 2015 It even reached 1.2 at end 2014.
Agree with @roger123. Buy Insas

Posted by BLee > 2020-07-11 16:40 | Report Abuse

Dear Sslee,
The correct term shall be REDEEMABLE PREFERENCE SHARES ("RIGHTS RPS"), just another rights instrument without voting rights.

We shall wait for more article for better understanding; below link as at today for sharing.
 https://www.thestar.com.my/business/business-news/2020/07/11/asset-rich-insas-makes-cash-call

Tq and happy trading.

Posted by Sslee > 2020-07-11 17:23 | Report Abuse

Dear BLee,
Thank you for thestar business news links.
Yes the cash call is indeed perplexing to say the least when INSAS is cash rich.

I do not understand why Business news keep making the same mistake when quoting the combine shareholding of Datuk Seri Thong Kok Khee (pic) and his brother, Datuk Thong Kok Yoon
“Datuk Seri Thong Kok Khee (pic) and his brother, Datuk Thong Kok Yoon, collectively own 36% in Insas, according to the 2019 annual report.”

Extract from 2019 annual report:
1. Dato’ Sri Thong Kok Khee: * 166,064,962: 25.05%
2. Dato’ Thong Kok Yoon: ** 74,203,648: 11.19%

* Direct and deemed interest by virtue of his family members’ interest and his substantial interest in M & A Investments International Limited, Immobillaire Holdings Sdn Bhd, Baktihan Sdn Bhd, Winfields Development Sdn Bhd and Montprimo Sdn Bhd.
** Direct and deemed interest by virtue of his spouse’s interest and his substantial interest in Titan Express Sdn Bhd, Perak Traders Holdings Sdn Bhd and Baktihan Sdn Bhd.

The explanation note indicated Baktihan Sdn Bhd was counted into both DST and his brother holding:
M & A Nominee (Tempatan) Sdn Bhd - Baktihan Sdn Bhd: 21,746,400: 3.28%

So the actual collective holding is (25.05 + 11.19 – 3.28) = 32.96 below the 33% threshold for MGO

Posted by SaraInvestment > 2020-07-11 23:00 | Report Abuse

Long term investment