Posted by Sslee > 2020-07-13 14:03 | Report Abuse

Dear all,

My reason on opposition the original proposal: 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 RP

1. Wrong in principle to raise funds with the purpose of repaying the Group’s bridging loans when INSAS can easily used deposits with licensed banks and financial institutions to repay the bridging loans.
2. Huge amount of warrants 331,510,380 at tentative conversion of 70 cents will weight down the INSAS market price again post Rights issue.
3. The poor minority shareholders will start to sell their holding since they have no saving to subscribe to their RI entitlement.

Hence I suggest alternative proposal:
1. Refer INSAS annual report 31/6/2019 (Page 138): The effective interest rates for deposits with licensed banks and financial institutions of the Group and of the Company range from 0.01% to 4.15% (2018: 0.005% to 4.04%) and 2.55% to 2.80% (2018: 2.55% to 2.80%) per annum respectively.
To use the deposit (interest rate anyhow is low and interest income is taxable) to repay the bridging loans.
2. Bonus issues of up to 132,604,152 free warrants on the basis of 1 warrant for every 5 existing ordinary INSAS shares.
3. To prove to market that INSAS is cash rich and with limited amount of 132,604,154 warrants in the market, I am very confident that with the Board leadership and a well run management team INSAS value can be unlock very soon.

Thank you

Posted by stockraider > 2020-07-13 14:21 | Report Abuse

Why Raider says sslee proposal is a waste of time loh ??

1. The Rps yield of 3.8% pa highly affordable bearing in mind insas rate of return of insas investment easily exceed 8% pa mah..!!
2. Yes there are some funds in fixed deposits giving a yield of 2% pa but this is temporary in nature...it is insas raw material to put to use when attractive opportunity comes along.
3. The RPS funding is matching, that means it is use to retire the revolving credit that fetched a higher cost of funds, thus beneficial to pay it off using rps loh..!
4. The rps is not only to raise fund, but it is an enhancement of insas share price to narrow the gap against its intrinsic valuation thru free warrant loh...!!

It is pity for sslee, to take the route of rouge shareholder, after building such a strong goodwill with insas management that even raider is impressed, but that will definitely deteriorate bcos sslee senseless action mah..!!

Anyhow like leno says, the corporate proposal will definitely go through as there are more than enough votes to support the positive RPS scheme mah.!

Posted by Sslee > Jul 13, 2020 2:03 PM | Report Abuse

Dear all,

My reason on opposition the original proposal: 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 RP

1. Wrong in principle to raise funds with the purpose of repaying the Group’s bridging loans when INSAS can easily used deposits with licensed banks and financial institutions to repay the bridging loans.
2. Huge amount of warrants 331,510,380 at tentative conversion of 70 cents will weight down the INSAS market price again post Rights issue.
3. The poor minority shareholders will start to sell their holding since they have no saving to subscribe to their RI entitlement.

Hence I suggest alternative proposal:
1. Refer INSAS annual report 31/6/2019 (Page 138): The effective interest rates for deposits with licensed banks and financial institutions of the Group and of the Company range from 0.01% to 4.15% (2018: 0.005% to 4.04%) and 2.55% to 2.80% (2018: 2.55% to 2.80%) per annum respectively.
To use the deposit (interest rate anyhow is low and interest income is taxable) to repay the bridging loans.
2. Bonus issues of up to 132,604,152 free warrants on the basis of 1 warrant for every 5 existing ordinary INSAS shares.
3. To prove to market that INSAS is cash rich and with limited amount of 132,604,154 warrants in the market, I am very confident that with the Board leadership and a well run management team INSAS value can be unlock very soon.

Thank you

Posted by Sslee > 2020-07-13 16:22 | Report Abuse

By the way my opposition to the proposed Rights Issue letter is with CC to Dato’ Sri Thong.
I am holding 1,320,000 units of INSAS now and I will not buy or sell my shares in the open market until a final decision is made by the Board/shareholders on the proposed Rights issue.

Posted by Alibaba008 > 2020-07-13 16:31 | Report Abuse

SSLee..you no need to oppose. You only minority. Either you follow them or you quit. Thats all. anyway issue Pref shares with free warrant also not bad lah. Those got it b4 will praise it. At least can earn back your money from warrants mah. pref shares can get dividend mah. win win lah. Sure they will goreng the warrant to high high and exit one.

Posted by Wuhan19 > 2020-07-13 17:18 | Report Abuse

This is a very positive developments. I hope the company can repeat this every 5 years.
My only worry is the company may cut back on the dividend to 1sen again.
Any requirements from either SC or shareholders to carry through the proposals?

Posted by Sslee > 2020-07-13 17:26 | Report Abuse

Agreed with Alibaba008, “Sure they will goreng the warrant to high high and exit one”, as what happen to WB 2015-2020

Wednesday, 04 Mar 2015
PETALING JAYA: The redeemable preference shares (RPS) of Insas Bhd were among the top losers while its warrants dominated the gainers list after both made their debut on Bursa Malaysia.
At yesterday’s close, Insas-PA was down 17.5 sen to 82.5 sen while Insas-WB finished 26 sen higher to 26.5 sen.

But at the end the WB expired out of money and the mother shares hardly break above RM1.00 and year after year INSAS was given the honor/dishonor as most undervalued company on Bursa. This is very unfair to the Board and management team that work very hard in making money for the company year in and year out.

It cannot be business as usual, an out of the box or better deal must be found to unlock INSAS value

https://www.theedgemarkets.com/article/thong-brothers-hold-big-chunk-insas-warrants-will-they-convert-them-raise-their-stake
Quote, “A few months ago, Kok Khee is said to have told a group of friends, “Insas is the most undervalued company on Bursa Malaysia”.

Posted by TheContrarian > 2020-07-13 18:10 | Report Abuse

Dear Sslee, the RPS is a five years A grade investment that yields 3.8% p.a and the 2.5 warrants you are getting for every RPS you subscribe to are FREE for you to sell in the open market. Use your FD savings, EPF account etc. to take up your entitlement. No need to sell your Insas shares.

Posted by Sslee > 2020-07-13 19:32 | Report Abuse

Haha stockraider,
Please allow me to do some calculation for you.

Refer INSAS annual report 31/6/2019 (Page 138): The effective interest rates for deposits with licensed banks and financial institutions of the Group and of the Company range from 0.01% to 4.15% (2018: 0.005% to 4.04%) and 2.55% to 2.80% (2018: 2.55% to 2.80%) per annum respectively.

Take interest placed with financial institutions as 2.7%
For RM 132,604,152 interest earned per year is RM 3,508,312 deduct company tax rate of 24% RM 2,721,037.
For RPS of RM 132,604,152 of dividend 3.8%/year, Dividend payout RM 5,038,958
So lose to company (5,038,958- 2,721,037) = RM 2,317,921
Which can be used to give addition 2,317,921/663,006,342 = 0.35 cents per share to Insas shareholders.


Dear TheContrarian,
I have no problem subscribe for the RPS as I still have money in my trading account waiting for yearend discount day sales.

I am opposing because INSAS had being hoarding so much cash and I am actually looking forward to ask the Board how they are going to employ the cash into business/investment to generate more income for the company. (More investment in Hohup, Omesti, DGSB, Sengenics and etc)

So tell me what the use putting so much money in banks and financial institutions that earned so little interest? And pay so little dividend? Until people like qqq3 and Philip keep saying INSAS will be forever most undervalued company in Bursa because the Board game the account and the money is actually not there.

Insas need to change this perception and prove to the whole world we are cash rich.

Posted by Philip ( buy what you understand) > 2020-07-13 21:53 | Report Abuse

I'm sorry sslee, you thought investing is so easy, and simply buying stocks in undervalued cash rich companies is enough to make money. But like Leno says...

You are a minority of the minority. You cannot influence the board or buy a seat at the table. All you can do is follow the actions of the majority shareholder.

Now you know why ql is now worth 9.90, and INSAS is barely moving

Quality of management. No matter what they say now you know the truth. Why should a company that is cash rich and has so much assets need to raise cash in such a desultory way?

The simple answer is Financialisation.

Posted by AnchoviesswimwithSha > 2020-07-13 21:56 | Report Abuse

Sold all my Insas share and move to supermax this morning and gain 10% in a day. Yes this counter might give handsome reward if positive news is out, but i dont want to have headache with it anymore

Posted by Hazzyy > 2020-07-13 22:38 | Report Abuse

Insas is like the mosquito that sucks your blood and pass you dengue virus .
And it comes back when the weather and environment is right .

Posted by SaraInvestment > 2020-07-13 23:48 | Report Abuse

There are so many great promoters here, investors should enjoy this forum well

Posted by blood7 > 2020-07-14 01:02 | Report Abuse

wow... i bought the shares for their sengenics stake as a covid play, didn't even aware of the proposed rps.... after reading just realized so many stories behind, lol.....

Posted by Sslee > 2020-07-14 08:50 | Report Abuse

Good morning Philip,
I sold my TAGB bought at 20.5 cents for profit, no like someone wrote big article on pump and dump TAGB but sold to breakeven or cut loss.

My investment on TAE after received dividend, start to sell TAE for profit to build up my cash hoard for yearend discount sales day.

28-Feb-2020: 09-Apr-2020: DIVIDEND: Interim Dividend: RM 0.0100
29-Apr-2019: 27-Jun-2019: DIVIDEND: Final Dividend: RM 0.041
27-Apr-2018: 27-Jun-2018: DIVIDEND: Final Dividend: RM 0.041

My thesis of investment in INSAS is simple base on indirectly holding: 595,893/663,006 of Inari shares and everything else in INSAS.
Note: Insas after converted15 million of Inari warrants to Inari and hold: 615,353,575 start to sell some Inari to lock in the profit.

As for QL keep borrowing money and build capacity oversea but do not understand the currency risk:
Q4 end 31th March 2020
Foreign currency translation differences for foreign operations: RM (64,447,000)
Cash flow hedge: RM (24,954,000)
Total comprehensive income attributable to Shareholders of the Company: RM (36,543,000)
So who actually game the financial report and reported profitable Q4?

So please Philip sell your overvalud QL and buy CP Thailand. Trust me after selling QL, QL will not like your Topgrov rocket up to RM24

Posted by stockraider > 2020-07-14 09:14 | Report Abuse

Very stupid selling TAE & TAGB prematurely making tiny profit, GO is on the way your return will be higher & safer mah...!!

If u need monies to get ready, go & apply a margin facility loh...!!

Posted by Sslee > Jul 14, 2020 8:50 AM | Report Abuse

Good morning Philip,
I sold my TAGB bought at 20.5 cents for profit, no like someone wrote big article on pump and dump TAGB but sold to breakeven or cut loss.

My investment on TAE after received dividend, start to sell TAE for profit to build up my cash hoard for yearend discount sales day.

28-Feb-2020: 09-Apr-2020: DIVIDEND: Interim Dividend: RM 0.0100
29-Apr-2019: 27-Jun-2019: DIVIDEND: Final Dividend: RM 0.041
27-Apr-2018: 27-Jun-2018: DIVIDEND: Final Dividend: RM 0.041

My thesis of investment in INSAS is simple base on indirectly holding: 595,893/663,006 of Inari shares and everything else in INSAS.
Note: Insas after converted15 million of Inari warrants to Inari and hold: 615,353,575 start to sell some Inari to lock in the profit.

As for QL keep borrowing money and build capacity oversea but do not understand the currency risk:
Q4 end 31th March 2020
Foreign currency translation differences for foreign operations: RM (64,447,000)
Cash flow hedge: RM (24,954,000)
Total comprehensive income attributable to Shareholders of the Company: RM (36,543,000)
So who actually game the financial report and reported profitable Q4?

So please Philip sell your overvalud QL and buy CP Thailand. Trust me after selling QL, QL will not like your Topgrov rocket up to RM24

Posted by Philip ( buy what you understand) > 2020-07-14 09:30 | Report Abuse

You sold tagb for how much profit? Still want to show off? I sold it and bought some kpower and some scib. So far good results I received my 20% returns much faster than waiting 1 year for tagb to do share buyout.

But you want me to sell QL to buy INSAS? Sorry, not in a thousand years.

>>>>>>>>>

Sslee Good morning Philip,
I sold my TAGB bought at 20.5 cents for profit, no like someone wrote big article on pump and dump TAGB but sold to breakeven or cut loss.

Posted by stockraider > 2020-07-14 09:34 | Report Abuse

Open up your mind mah...!!

Selling Ql for insas is definitely a good idea lah...!!

Posted by Philip ( buy what you understand) > Jul 14, 2020 9:30 AM | Report Abuse

You sold tagb for how much profit? Still want to show off? I sold it and bought some kpower and some scib. So far good results I received my 20% returns much faster than waiting 1 year for tagb to do share buyout.

But you want me to sell QL to buy INSAS? Sorry, not in a thousand years.

>>>>>>>>>

Sslee Good morning Philip,
I sold my TAGB bought at 20.5 cents for profit, no like someone wrote big article on pump and dump TAGB but sold to breakeven or cut loss.

Posted by Sslee > 2020-07-14 09:46 | Report Abuse

Haha Philip,
In life it is not how much you earned or profited but talk the talk and walk the walk.

Posted by Thinkcarefully > 2020-07-14 09:57 | Report Abuse

So little sellers, so many buyers
Looks like the most minority shareholders are in favour of the proposals.
I am prepared to buy up another 1 mil. shares below 0.75

Posted by Philip ( buy what you understand) > 2020-07-14 10:47 | Report Abuse

Then maybe you can write a formal complaint to Warren buffet why he sell airline stocks so fast after he bought them or sell o&g stocks right after he buy a large chunk?

In investment is about making the right decision and the right call.

Not walk a talk into losing money. You have too much ego and no wish to learn anything new.

In the back account is yours not others. Decision is always yours to make.

>>>>>>>>

Sslee Haha Philip,
In life it is not how much you earned or profited but talk the talk and walk the walk.
14/07/2020 9:46 AM

Posted by stockraider > 2020-07-14 11:27 | Report Abuse

I know Philip has missed opportunity of making another 200% on topgloves for selling out too soon, he is sore about that loh...!!

It is time let go and Philip & should relax, just be happy the other risk taker, that bought from him also make good money loh, no need to feel bad about it mah..!!

posted by Philip ( buy what you understand) > Jul 14, 2020 10:47 AM | Report Abuse

Then maybe you can write a formal complaint to Warren buffet why he sell airline stocks so fast after he bought them or sell o&g stocks right after he buy a large chunk?

In investment, it is about making the right decision and the right call.

Not walk a talk into losing money. You have too much ego and no wish to learn anything new.

In the back account is yours not others. Decision is always yours to make.

>>>>>>>>

Sslee Haha Philip,
In life it is not how much you earned or profited but talk the talk and walk the walk.
14/07/2020 9:46 AM

Posted by Sslee > 2020-07-14 13:05 | Report Abuse

Haha Philip,
“Then maybe you can write a formal complaint to Warren buffet why he sell airline stocks so fast after he bought them or sell o&g stocks right after he buy a large chunk? In investment is about making the right decision and the right call.”

Nice try to elevate or compare your-self with Warren Buffet. I’m sure you will do better next time.

Warren Buffet never wrote big article to promote pump and dump and by the way Warren Buffet quick action to sell is because the fundamental reasons he bought the airline stocks and O&G stocks had changed drastically due to Covid-19. While you happily sold your Topglov (when Covid-19 had changed the fundamental of Gloves stocks) and challenged every IB’s and blogger’s Gloves valuation to calculate the next Q, next year and the year after next earning to justify their TP.

So may I ask what had changed since you bought TAGB and promoted it as your pump and dump article and then sold at loss?

Is it because qqq3 know how to fondle your ego/balls and aroused your betting instinct and get you bet on Karim directly and Scib and Kpower as proxy?

Posted by Philip ( buy what you understand) > 2020-07-14 15:26 | Report Abuse

I didn't elevate myself at all, but you seem to think that people cannot change their mind when circumstances change. Tagb has been pumped and dumped with explanation and notes. So can you explain if INSAS is still a good stock to invest in despite management doing so many shady actions? If company is so cash rich as you claim, can you give some solid and good reasons as to why they would do cash call and offer deals like preference shares and free warrants?

Why? Stop trying to talk bad about other investors good results ( I have doubled my returns from topglove, and made 30% percent after that on yinson, Pchem, and others).

Please just stick the the thread and it's salient points.

WHAT IS INSAS DOING? WHY IS THE SHARE PRICE TANKING AND CASH CALL BEING RAISED?

You spend so much time talking bad about my other investments like QL GKENT Serbadk kpower, scib etc etc, despite them showing good earnings results and stare price increase after I began my investment. You have been talking bad about QL since 2018, despite seeing the share price climb up and up and earnings and revenue going up and up.

You have so many theories and explanations and shareholders complaints. In the end you keep choosing bad investments and keep talking bad about my investments.

WHY? Why can't you just stop commenting on stocks and businesses that you know nothing about and such to businesses in your circle of competence?

As for stockraider? Did you invest in glove stocks? No? What did you invest in? NETX? Sucks to be you. Sapura? Insas warrants? Wow? What were you doing when everyone was in glove stocks?

I already doubled my earnings. What about you? How are you doing in your NETX?

Posted by Thinkcarefully > 2020-07-14 16:56 | Report Abuse

So many dumping their shares
Managed to collect 400,000
Hope it will drop further tomorow

Posted by Sslee > 2020-07-14 17:08 | Report Abuse

Haha Philip,
I’m not a busybody to talk bad about other investors’ good results. I only give my opinions on stock base of facts and figures contain in the annual report or IB report.

But unfortunately you are the one insisting only those can showed their past success record are qualified to give their opinions on stocks while you went wild in talking bad and plucking from the air/tongue in cheek comments on other people stock without even reading the Annual report or understanding their business.

Quote, “Only banks may use customer deposits to do loans. Stockbroking company is not allowed to. Therefore, since you cannot use what does not belong to you, you have to raise cash in more creative ways. And if the public is not interested giving out a loan to INSAS or buy the shares, more creative methods need to be raised” unquote.

Now tell me why Gkent is not performing to what you present as facts in Gkent forum and you start to sell your Gkent leaving those believing in yours Gkent thesis high and dry?

{Philip (what you can learn from RJ MITTE ) That is not altogether unreasonable. I believe if you buy the shares today and also at my buying price of 46 cents, the dividends will be safe once the expected 20 million of earnings per quarter from lrt3 progress claim and the 5 million per quarter from mrt2 progress claim comes online.

Here are facts:
1. lrt3 and mrt2 and the 2 hospitals are still running, meaning contracts and their orderbook are firm. Prime minister has already guaranteed payment as these 2 mega projects are feeding thousands of contractors and workers. Hospital handover and final claim + 2 year retention (5% of 500 million project is around 25 million of balance profit) incoming.

2. Lrt3 progress billing was delayed, not cancelled. It will achieve 45% completion by 2020, a huge progress.

3. Gkent main water business is still running on all cylinders with demand more than supply.

4. Gkent is buying back shares aggressively, gkent current outstanding shares dropped from 563 million to 538 million outstanding. I expect gkent to end share buyback around the 500 million nosh mark.

5. Gkent has huge cash load with a history of paying dividends. It paid sustainable dividends, paying out 40 million of 80 million. I believe until 2024 this will be sustainable}

For me at least I study the Gkent annual report and prepared the below questions to ask the Board for the coming AGM.
https://klse.i3investor.com/blogs/Sslee_blog/2020-07-02-story-h1509713378-Questions_for_the_Gkent_69th_AGM_on_29th_July_2020.jsp

Posted by Philip ( buy what you understand) > 2020-07-14 18:22 | Report Abuse

Still cannot keep to salient points and discuss about INSAS on INSAS thread?

So, let's discuss insas in insas thread and discuss gkent in gkent thread.

Please explain clearly why cash rich company selling warrants and doing cash call?

Very simple. You own INSAS for 3 years you should be able to explain very clearly what is happening. Why undervalue company with hundreds of millions of cash is taking advantage of minority shareholders instead of helping them?

Posted by stockraider > 2020-07-14 18:35 | Report Abuse

U NEED TO UNDERSTAND GENERAL RAIDER MAKE ALOT OF MONIES ON HEALTH CARE STOCK...JUST THAT RAIDER DID NOT BOAST ABOUT IT MAH..!!

INSAS IS MY VALUE INVESTMENT STOCK MAH...!!

HEALTH CARE ARE MY BREAD & BUTTER STOCKS LOH...!!

MUST KEEP DIFFERENT DIVERSIFY PORTFOLIO LOH...!!

MY GAIN ON HEALTH STOCKS OVER 5 MTHS EXCEED PHILIPS GAIN ON LONG TERM TOPGLOVES STOCK OVER 6 YEARS HOLDING MAH...!!

As for stockraider? Did you invest in glove stocks? No? What did you invest in? NETX? Sucks to be you. Sapura? Insas warrants? Wow? What were you doing when everyone was in glove stocks?

Posted by Sslee > 2020-07-14 18:56 | Report Abuse

Dear Philip,
I do not have answer to your question, “Please explain clearly why cash rich company selling warrants and doing cash call?

I can speculate on the reasons but refrain to do so in open forum for now. Instead I wrote in to the Board asking:
May I ask the Board: Why deposits with licensed banks and financial institutions (effective interest rate from 0.01% to 4.15% and 2.55% to 2.80%) were not used to redeem the RPS-A of RM 132.60 million?

The reply:

Hi Mr Lee

I acknowledge your email & will consult our advisers to what extent the board can respond to queries raised by you as individual shareholder.

The rights issue is offered to all shareholders equitably & all shareholders have the rights & entitlement to subscribe for their respective RPS + warrants allocated to them based on no. of shares held in the company. As such, all shareholders are treated equally & enjoy full benefits & entitlements under the rights issue

Regards
wgk

Posted by stockraider > 2020-07-14 19:17 |

Post removed.Why?

Posted by stockraider > 2020-07-14 19:21 | Report Abuse

Correct reply to sslee naive question post to the BOARd mah!

"The rights issue is offered to all shareholders equitably & all shareholders have the rights & entitlement to subscribe for their respective RPS + warrants allocated to them based on no. of shares held in the company. As such, all shareholders are treated equally & enjoy full benefits & entitlements under the rights issue!"


Posted by Sslee > Jul 14, 2020 6:56 PM | Report Abuse

Dear Philip,
I do not have answer to your question, “Please explain clearly why cash rich company selling warrants and doing cash call?

I can speculate on the reasons but refrain to do so in open forum for now. Instead I wrote in to the Board asking:
May I ask the Board: Why deposits with licensed banks and financial institutions (effective interest rate from 0.01% to 4.15% and 2.55% to 2.80%) were not used to redeem the RPS-A of RM 132.60 million?

The reply:

Hi Mr Lee

I acknowledge your email & will consult our advisers to what extent the board can respond to queries raised by you as individual shareholder.

The rights issue is offered to all shareholders equitably & all shareholders have the rights & entitlement to subscribe for their respective RPS + warrants allocated to them based on no. of shares held in the company. As such, all shareholders are treated equally & enjoy full benefits & entitlements under the rights issue

Regards
wgk

Posted by Sslee > 2020-07-14 20:38 | Report Abuse

Dear all,
Let’s discuss the question why today INSAS trade volume: 2,059,000. Day range: 0.73-0.755. Closing at: 0.735.

Q1. Is it because some INSAS shareholders need to sell some shares in order to subscribe for RPS?
Q2. New investors are not buying INSAS because they cannot understand why cash rich INSAS need to do cash call?
Q3. People like qqq3 and Philip scare away all likely investors with their theory cash in bank are faked?
Q4. Sslee oppose the RPS thus scare away the new investors?
Q5. Hot moneys are all in Gloves stocks so no one interest in INSAS?
Q6. Any others reason?

Now let’s reasoning if the proposal of:
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 RP

is replaced with:
Bonus issues of up to 132,604,152 free warrants on the basis of 1 warrant for every 5 existing ordinary INSAS shares
Q1: Solved
Q2: Solved
Q3: Prove to qqq3 and Philip cash is real
Q4: No more opposing
Q5: Partially solved when people like things for free.
Q6: Kaki goreng will come in to fry INSAS till the ex-date as Bonus Issues can be implementing very fast without shareholder voting.

Isn’t that a win-win proposal?

Posted by Mikecyc > 2020-07-14 20:41 |

Post removed.Why?

Posted by Sslee > 2020-07-14 20:43 | Report Abuse

By the way stockraider, the RPS of RM 132,604,152 dividend 3.8%/year, Dividend payout RM 5,038,958 can be fully channel to pay as extra dividend for INSAS shareholders.

Posted by Sslee > 2020-07-14 20:48 | Report Abuse

Haha Mikecyc,
Stockraider q sell his 1 million WB at 0.5 cents for many days to no avail and lastly had to pray very hard in God of Mercy temple for someone to buy back his 1 million WB.

Luckily Dato Sri Thong heard his prayer and out of pity bought the 1 million WB from stockraider hand for 5000.

A very lucky and narrow escape for stockraider.

Posted by stncws > 2020-07-14 20:50 | Report Abuse

stupid . dig out old thing again n again. really STUPID MOUSE

Posted by Mikecyc > 2020-07-14 21:23 |

Post removed.Why?

Posted by Mikecyc > 2020-07-14 21:31 | Report Abuse

Thanks , Sslee.

Posted by stockraider > 2020-07-14 22:36 | Report Abuse

U should learn from me mah....!!

This is a powerful investment technique mah...!!

Not easy to master it loh...!!

Posted by Sslee > Jul 14, 2020 8:48 PM | Report Abuse

Haha Mikecyc,
Stockraider q sell his 1 million WB at 0.5 cents for many days to no avail and lastly had to pray very hard in God of Mercy temple for someone to buy back his 1 million WB.

Luckily Dato Sri Thong heard his prayer and out of pity bought the 1 million WB from stockraider hand for 5000.

A very lucky and narrow escape for stockraider.

Posted by stockraider > 2020-07-14 22:43 | Report Abuse

Lu pakai otak lah..Shame on u as a University Malaya Graduate loh.!!

Look here..without the RPS of Rm 132m issued...u do not get xtra dividend of 3.8% pa or Rm 5m mah...!!

U may still get the uncertain payment of ordinary share dividend of 1 to 2 sen pa on your ordinary share loh..!!

With RPS u get certainty of dividend of 3.8 sen pa on RPS plus your usual ordinry share dividend mah...!!

Posted by Sslee > Jul 14, 2020 8:43 PM | Report Abuse

By the way stockraider, the RPS of RM 132,604,152 dividend 3.8%/year, Dividend payout RM 5,038,958 can be fully channel to pay as extra dividend for INSAS shareholders.

Posted by stockraider > 2020-07-14 22:59 | Report Abuse

Ans 1.
If u invest in insas for the long term & u know it is deeply undervalue with big margin of safety....why do u worry about the short term negative price fluctuation leh ?

In fact u should take this god given opportunity to accumulate at lower price loh...!!


Q1.Let’s discuss the question why today INSAS trade volume: 2,059,000. Day range: 0.73-0.755. Closing at: 0.735.

Q1. Is it because some INSAS shareholders need to sell some shares in order to subscribe for RPS?
Q2. New investors are not buying INSAS because they cannot understand why cash rich INSAS need to do cash call?
Q3. People like qqq3 and Philip scare away all likely investors with their theory cash in bank are faked?
Q4. Sslee oppose the RPS thus scare away the new investors?
Q5. Hot moneys are all in Gloves stocks so no one interest in INSAS?
Q6. Any others reason?

Now let’s reasoning if the proposal of:
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 RP


Ans 2
which is more Powerful leh ? 2.5 to 1 Free warrant or 1 to 5 bonus warrant leh ??
Of course 2.5 to 1 free warrant mah....!!
In addition Insas is promising u 3.8sen dividend compare with bank fixed deposits rate of less than 2% or 2 sen loh...!!

Q2 is replaced with:
Bonus issues of up to 132,604,152 free warrants on the basis of 1 warrant for every 5 existing ordinary INSAS shares
Q1: Solved
Q2: Solved
Q3: Prove to qqq3 and Philip cash is real
Q4: No more opposing
Q5: Partially solved when people like things for free.
Q6: Kaki goreng will come in to fry INSAS till the ex-date as Bonus Issues can be implementing very fast without shareholder voting.

Note:
U must TRUST THONG LAH!....HE HAS BEEN IN THE INVESTMENT BANKING LINE FOR MORE THAN 30 YEARS....OF COURSE, HE KNOWs HOW TO PLAY HIS CARD WELL MAH..!!

SSlee...should stick to his core expertise of CPO mills instead of trying to act as investment banker loh...!!

Posted by Mikecyc > 2020-07-15 01:49 |

Post removed.Why?

Posted by Mikecyc > 2020-07-15 01:53 |

Post removed.Why?

Posted by Mikecyc > 2020-07-15 02:01 | Report Abuse

>Referred to FY20 (Q3) report ended March 2020 :


Cash and bank balances 228,153,000

Loans and borrowings 404,581,000


>Referred to FY19 audited annual report ended June 2019 :

Cash and bank balances 95,148,000

Loans and borrowings 301,933,000

Posted by Mikecyc > 2020-07-15 02:05 | Report Abuse

CASH AND CASH EQUIVALENTS COMPRISE OF:-

Group Company
2019 2018 2019 2018
RM’000 RM’000 RM’000 RM’000
Bank overdrafts (3,082) (3,862) - -

Cash and bank balances 95,148 103,763 5,027 5,691

Deposits with licensed banks and financial
institutions 554,552 572,703 17,769 12,567

646,618 672,604 22,796 18,258
Less:-
Cash and bank balances pledged (Note 21) (19,652) (25,112) - -

Fixed deposits pledged (Note 20) (238,271) (228,902) (1,226) (1,193)

= 388,695 418,590 21,570 17,065

Posted by Mikecyc > 2020-07-15 02:06 | Report Abuse

m) Cash and cash equivalents

Cash and cash equivalents comprise of cash and bank balances, bank overdrafts and deposits with
licensed banks and financial institutions that are free from encumbrances and short-term highly liquid
investments which have an insignificant risk of change in value.

The Group has excluded dealer’s representatives’ security deposits and clients’ monies held in trust by
the stock broking subsidiary company and cash and deposits pledged to licensed banks and financial
institutions from its cash and cash equivalents

Posted by Mikecyc > 2020-07-15 02:09 | Report Abuse

FY19 audited annual report ended June 2019 of cash and cash equivalents is around RM 392 million but what happens after 9 months per FY20 (Q3 ) report ?

Posted by Mikecyc > 2020-07-15 02:18 |

Post removed.Why?

Posted by Mikecyc > 2020-07-15 02:22 | Report Abuse

Q3 : in the sense of agreed with Philip .

Posted by Sslee > 2020-07-15 07:49 | Report Abuse

Haha stockraider,
{Note: U must TRUST THONG LAH!....HE HAS BEEN IN THE INVESTMENT BANKING LINE FOR MORE THAN 30 YEARS....OF COURSE, HE KNOWs HOW TO PLAY HIS CARD WELL MAH..!!}

DST had been given a perfect opportunity to convert warrants 2015-2020 at RM1.00 and brought his and his brother holding to above 33% and trigger MGO or apply for MGO waiver. He did none of above while telling theedgemalaysia: https://www.theedgemarkets.com/article/thong-brothers-hold-big-chunk-insas-warrants-will-they-convert-them-raise-their-stake
Quote, “A few months ago, Kok Khee is said to have told a group of friends, “Insas is the most undervalued company on Bursa Malaysia”.

This time round, I am trying to denial him the pleasure of flooding the market with 331,510,380 warrants (2021-2026) where he can take his own sweet time of another 5 years to depress INSAS market price and wear down INSAS shareholders patience to collect warrants cheaply and then covert the warrants at even cheaper price to take his holding above 50% and making the MGO unconditional.

(Sorry I need to protect my thesis of investment in INSAS base on indirectly holding: 595,893/663,006 of Inari shares and everything else in INSAS and do not wish to see too much potential dilution of another 331,510,380 warrants.
Note: INSAS after converted 15 million of Inari warrants to Inari and hold 615,353,575 had sold 19.46 million Inari to take profit)

To me 132,604,152 warrants is a good and fair amount for all the INSAS existing shareholders and also will not act as a deter factor for new investors to buy into INSAS post Bonus issue as current Directors are working hard with promising development in Inari, DGSB, Hohup, Osmesti, Sengenics and investment opportunities.

By the way stockraider, the RPS of RM 132,604,152 dividend 3.8%/year, Dividend payout RM 5,038,958 can be fully channel to pay as extra dividend for INSAS shareholders this work out to be 5X5000/663= RM38 share for holding 5,000 INSAS share without you paying RM 1,000 for RPS and getting dividend of RM38 with your RPS

Posted by Alibaba008 > 2020-07-15 10:34 | Report Abuse

Philip claimed is unfounded about PChem vs Insas. when bursa at worst period recently.

pchem dropped to rm4 and rebounded to rm6 plus at current price wherelse Insas dropped to 40sen and currently is above 70sen.

in term of recovery. Insas recovered more than Pchem. No doubt about it. Insas is better than Pchem lah. noobs.