Posted by Gerrardo > 2021-08-16 11:38 | Report Abuse

Hope the report will not be delay.

Posted by leno > Aug 16, 2021 9:38 AM | Report Abuse

Insas 4th Quarter report will be out in 10 days time.
Meaning FY 2021 result will be known as well.
FY eps 42 sen.
PE 2.2

La La LA LA LAAAAAAAA ...

CANTEEEEEEEEEEEEEEEEEEEEEEEEEEEKK !!

Posted by stockraider > 2021-08-16 15:34 | Report Abuse

No surrender mah...!
No pundan.....pundan loh!
Stay on course mah!

Posted by PSAi3alert > 2021-08-16 16:10 | Report Abuse

Given the disposal of the car rental division, I recalculated the volatility using 1 year of data, from previously 3 years of data.

The theoretical pricing of Insas WC warrant is appended below.

Sample inputs and outputs using the traditional BSM (non-dliutive) model for Insas WC:

Volatility: 35%
Stock Price: 0.935
Strike Price: 0.90
Interest Rate: 2.62%
Warrants/share: 1
Days to Expiration: 1140

Snapshot @0.935 __Calls
Price ___________ 0.274
Delta ___________ 0.696
Gamma _________ 0.602
Theta ___________ 0
Vega ___________ 0.006
Rho ____________ 0.012
Elasticity ________ 2.38

Stock Price ___ Theoretical Warrant $ __Time Value
0.23 _________ 0.002 ______________ 0.002
0.34 _________ 0.011 ______________ 0.011
0.45 _________ 0.032 ______________ 0.032
0.57 _________ 0.068 ______________ 0.068
0.68 _________ 0.116 ______________ 0.116
0.79 _________ 0.177 ______________ 0.177
0.90 _________ 0.247 ______________ 0.247
0.93 _________ 0.274 ______________ 0.244
1.01 _________ 0.326 ______________ 0.214
1.12 _________ 0.410 ______________ 0.188
1.23 _________ 0.501 ______________ 0.167
1.35 _________ 0.595 ______________ 0.150
1.46 _________ 0.692 ______________ 0.136
1.57 _________ 0.793 ______________ 0.125


Sslee ** Up to 7 February 2020 - as disclosed in Note 44(a)(ii) to the financial statements.
Disposal of the Group's Singapore car rental division.
Hopefully with the disposal will save on director and staff cost
16/08/2021 7:18 AM

Posted by Bgt 9963 > 2021-08-16 16:16 |

Post removed.Why?

Posted by Sslee > 2021-08-16 19:26 | Report Abuse

Mean:
Insas is super undervalued!!!

Posted by PSAi3alert > 2021-08-16 21:47 | Report Abuse

No, I was not talking about the value of Insas.

I was referring to the theoretical price of Insas WC.

It is with heavy heart for me to say that the theoretical price of WC is currently only 0.27 when calculated using the traditional BSM (non-dliutive) model.

And if a dilutive model is used together with dividends, the theoretical price of WC will be around 0.22.

At 0.39, Insas WC is way over-priced.

p.s. I heard the pleas from millions of WC holders, asking me not to change the volatility percentage. I did everything I could until the final moment to save the pricing, at least until we have finished dealing with Covid-19 and the vaccination programme.

I could have taken the easy way out by sacrificing my principles to stay with the wrong volatility percentage. I chose otherwise.




Sslee Mean:
Insas is super undervalued!!!
16/08/2021 7:26 PM

Posted by Sslee > 2021-08-16 22:14 | Report Abuse

Ok thanks,
It mean I am right to sold WC and bought Insas.

Posted by PSAi3alert > 2021-08-16 23:00 | Report Abuse

Yes, you are right to sell WC.

As for the value of Insas, go through all the SBUs and look at the return on capital employed.

The only valuation method that the market appears to be using is the sum of parts method, and it's only one third of Inari. (Keep an eye on EPF's disposal.)

I had wanted to give you some talking points when you next meet them.

However, the numbers do not suggest that the key decision maker will listen. That, in itself, may be a part of a series of issues that is causing the valuation gap.

Best wishes and may you achieve your targeted returns.


Sslee Ok thanks,
It mean I am right to sold WC and bought Insas.
16/08/2021 10:14 PM

Posted by Sslee > 2021-08-17 07:47 | Report Abuse

I Invest, So That I Live Like a Man…Not a Donkey, Dog or Monkey
November 18, 2013 | 17 Comments

In my collection of short stories that I have found on the Internet or in books and magazines, here is one that I believe carries a deep meaning, and a harsh truth, for our lives.

Here it goes.

God created the donkey and said to him:
“You will be a donkey. You will work un-tiringly
From sunrise to sunset carrying burdens on your back
You will eat grass, you will have no intelligence
And you will live 50 years.”
The donkey answered:
“I will be a donkey, but to live 50 years is much. Give me only 20 years.”
God granted his wish.

God created the dog and said to him:
“You will guard the house of man. You will be his best friend
You will eat the scraps that he gives you and you will live 30 years.”
The dog answered:
“Sir, to live 30 years is too much. Give me only 15 years.”
God granted his wish.

God created the monkey and said to him:
“You will be a monkey. You will swing from branch to branch doing tricks
You will be amusing and you will live 20 years.”
The monkey answered:
“To live 20 years is too much. Give me only 10 years.”
God granted his wish.

Finally God created man…and said to him:
“You will be man, the only rational creature on the face of the earth
You will use your intelligence to become master over all the animals
You will dominate the world and you will live 20 years.”
Man responded: “Sir, I will be a man but to live only 20 years is very little.
Give me the 30 years that the donkey refused,
The 15 years that the dog did not want
And the 10 years the monkey refused.”
God granted man’s wish.

And since then, man lives 20 years as a man,
Spends 30 years like a donkey,
Working and carrying all the burdens on his back.

Then when his children are grown,
He lives 15 years like a dog taking care of the house
And eating whatever is given to him.

So that when he is old,
He can retire and live 10 years like a monkey,
Going from house to house and from one son or daughter to another
Doing tricks to amuse his grandchildren.

That’s Life.

Indeed, that’s life!
I have seen people all around me living an exact life as described above.

From living like a man, to a donkey, then a dog, and then a monkey…all in one lifetime.

Posted by Bgt 9963 > 2021-08-17 08:56 |

Post removed.Why?

Posted by Sslee > 2021-08-17 09:37 | Report Abuse

Thanks leno for reading while asleep.
No worries you plan of migrate to Australia is still a work in progress.

Posted by Sslee > 2021-08-17 10:31 | Report Abuse

Leno are you still holding below? Or buy more WC?
- 17.5 Millions warrants.
- 0.5 Million mother share.
- RM 80 k cash

Posted by stockraider > 2021-08-17 10:50 |

Post removed.Why?

Posted by Sslee > 2021-08-17 15:26 | Report Abuse

Name INSAS BERHAD
Details of Changes:
Currency -
Date of Change Type Number of Shares
12-Aug-2021 Disposed 1,060,000
Registered Name M & A Nominee (Asing) Sdn Bhd for Media Lang Limited
Nature of Interest Indirect Interest
11-Aug-2021 Disposed 1,250,000
Registered Name M & A Nominee (Asing) Sdn Bhd for Media Lang Limited
Nature of Interest Indirect Interest
Nature of Interest Indirect Interest
Shares Ordinary shares
Reason Disposal in the open market
Total no of securities after change
Direct (units) 0
Direct (%) 0.00
Indirect (units) 543,193,575
Indirect (%) 14.76
Total (units) 543,193,575
Total (%) 14.76
Date of Notice 16-Aug-2021

Wonder why Insas sold 2.31 million Inari shares when Insas already hold so much cash?

Posted by stockraider > 2021-08-17 15:36 | Report Abuse

Make some money mah!

Posted by Sslee > Aug 17, 2021 3:26 PM | Report Abuse

Name INSAS BERHAD
Details of Changes:
Currency -
Date of Change Type Number of Shares
12-Aug-2021 Disposed 1,060,000
Registered Name M & A Nominee (Asing) Sdn Bhd for Media Lang Limited
Nature of Interest Indirect Interest
11-Aug-2021 Disposed 1,250,000
Registered Name M & A Nominee (Asing) Sdn Bhd for Media Lang Limited
Nature of Interest Indirect Interest
Nature of Interest Indirect Interest
Shares Ordinary shares
Reason Disposal in the open market
Total no of securities after change
Direct (units) 0
Direct (%) 0.00
Indirect (units) 543,193,575
Indirect (%) 14.76
Total (units) 543,193,575
Total (%) 14.76
Date of Notice 16-Aug-2021

Wonder why Insas sold 2.31 million Inari shares when Insas already hold so much cash?

Posted by stockraider > 2021-08-17 15:53 | Report Abuse

This donkey always get angry for nothing loh!

He also wr0te alot of letter to the BOD to complain mah


Posted by leno > Aug 17, 2021 3:49 PM | Report Abuse

few days ago,
got another donkey angri insas hold cash 800 M, loan only 20 M
when i ask u want insas cash 20 M, loan 800 M then u happi aa ?

The donkey came back with some stupeed computing number.
Leno ask, who build that programme ?

That programmer must be very RICH making money from share market right ?
Why need to sell his software ?

This is not making cangkul for farmer to tanam sayur.
Key into the computer, computer can tell u share good or not.
Fak u lar.

insas buy inari 10 sen sell RM 3.60 ... why fak u wan to wonder ?
why u no wonder why fak insas no sell ALL inari share at RM 3.60 instead ?

Posted by stockraider > 2021-08-17 16:16 | Report Abuse

Huat chaii loh!

Posted by lawpc128 > 2021-08-18 11:21 | Report Abuse

Pnb, EPF, kyy, OTB - u all should takeover this company from dtk tong, sell off all the inari shares for 543mx3.60 =1954.8 m . even buy insas at 2 rgt ( nosh is 693m shares so at 2 rgt per share only cost 1386m ) on top is 800m cash. Then reward all the minority shareholders like us who has invested in insas but no rewards from current owners.

Posted by PSAi3alert > 2021-08-18 12:04 | Report Abuse

EPF can just sell Inari directly


12 Aug 2021 130,000 Disposed
12 Aug 2021 169,400 Disposed
12 Aug 2021 1,140,300 Disposed
12 Aug 2021 61,300 Disposed
11 Aug 2021 1,750,000 Disposed
11 Aug 2021 600,000 Disposed
11 Aug 2021 507,700 Disposed
11 Aug 2021 200,200 Disposed
11 Aug 2021 37,400 Disposed
09 Aug 2021 1,300,000 Disposed
09 Aug 2021 1,222,900 Acquired
05 Aug 2021 2,139,600 Disposed
05 Aug 2021 860,000 Disposed
04 Aug 2021 1,753,600 Disposed
04 Aug 2021 500,000 Disposed
04 Aug 2021 230,400 Disposed
03 Aug 2021 3,000,000 Disposed
03 Aug 2021 500,000 Disposed
03 Aug 2021 307,700 Acquired
02 Aug 2021 3,300,000 Disposed
02 Aug 2021 232,900 Disposed
30 Jul 2021 3,000,000 Disposed
30 Jul 2021 300,000 Disposed
30 Jul 2021 240,500 Disposed
29 Jul 2021 2,855,500 Disposed
29 Jul 2021 18,889,000 PP
29 Jul 2021 300,000 Disposed
29 Jul 2021 4,028,500 PP
29 Jul 2021 1,169,700 PP
29 Jul 2021 13,837,100 PP
29 Jul 2021 1,235,300 PP
29 Jul 2021 242,800 Disposed
29 Jul 2021 1,000,000 PP
29 Jul 2021 1,644,100 PP
27 Jul 2021 1,019,400 Disposed
27 Jul 2021 400,000 Disposed
26 Jul 2021 1,739,800 Disposed
23 Jul 2021 1,500,000 Disposed
22 Jul 2021 3,000,000 Disposed
21 Jul 2021 3,000,000 Disposed
21 Jul 2021 1,132,800 Disposed
19 Jul 2021 1,373,300 Disposed
19 Jul 2021 573,400 Disposed
15 Jul 2021 156,300 Disposed
14 Jul 2021 3,000,000 Disposed
12 Jul 2021 50,000 Acquired
09 Jul 2021 686,000 Acquired
07 Jul 2021 990,700 Disposed
07 Jul 2021 583,000 Disposed
06 Jul 2021 181,500 Disposed
06 Jul 2021 417,000 Disposed
05 Jul 2021 2,000,000 Disposed

lawpc128 Pnb, EPF, kyy, OTB - u all should takeover this company from dtk tong, sell off all the inari shares for 543mx3.60 =1954.8 m . even buy insas at 2 rgt ( nosh is 693m shares so at 2 rgt per share only cost 1386m ) on top is 800m cash. Then reward all the minority shareholders like us who has invested in insas but no rewards from current owners.
18/08/2021 11:21 AM

Posted by stockraider > 2021-08-18 12:11 | Report Abuse

Mari...!! Mari...!! Mari...!!


Posted by leno > Aug 18, 2021 11:55 AM | Report Abuse

insas is non halal counter - they sell pork, so pnb, epf cannot buy.
kyy otb are ikan bilis -they got no money to buy.

only waiting for calvin tan to join leno, raider, sslee to make BIGGEST money.

INSAS CANTEEEEEEEEEEEEEEEEKK !!

Posted by PSAi3alert > 2021-08-18 12:18 | Report Abuse

Watch out for Jaks stunt - ESOS that will be issued and paid for by the company.



Wonder why Insas sold 2.31 million Inari shares when Insas already hold so much cash?
17/08/2021 3:26 PM

Posted by PSAi3alert > 2021-08-18 13:14 | Report Abuse

leno,

Whether Insas has the cash or otherwise, that all the SBUs are under-performing; that the investment holding segment is making losses due to repeated proprietary trade errors; and excessive executive compensations that are not linked to performance - do not bother me at all and will not cause me to feel angry. Furthermore, anger destroys no one but yourself.

Just because I have not posted about Inari does not mean that there are no issues with the company. It just mean that I have not posted them yet.

Since you have so much hopes that are predicated on Inari, I will not shatter them.

"Our lives depend on hope. If you have hope, you’ll be able to overcome problems you face. But if you’re without hope, your difficulties will increase. Hope is linked to compassion and loving kindness." - Dalai Lama



leno u see leno invite Psai to insas
to counter check if leno miss anything.
This fellow can and will track all insas factories and offices
using satellite and google meet.

So far, psai cannot come out with any even tiny nano-fraud about insas.
Everything is REAL.

Psai confirmed Insas really hold so much CASH until he feel so angry.
Angry for what, don't ask leno.

ACT FAST !

INSAS REALLLY CANTEEEEEEEEEEEEKK !!!
18/08/2021 12:30 PM

Posted by stockraider > 2021-08-18 15:21 | Report Abuse

Ini kali mah!

Posted by deMusangking > Aug 18, 2021 3:18 PM | Report Abuse

next 10 years , 20 years... leno will be shouting INSAS CANTEEEEEEEEEEEEKKK !!!
kesian!!!

hahahahahahah!!!!!!!!!!!!!!!!!!!!!

Posted by stockraider > 2021-08-18 16:10 | Report Abuse

huat chaiii

Posted by Bgt 9963 > 2021-08-19 08:55 |

Post removed.Why?

Posted by stockraider > 2021-08-19 17:17 | Report Abuse

Just buylah!

Posted by Gerrardo > 2021-08-19 19:50 | Report Abuse

With just only 1mil ++ trading volumes, really show that many are buying insas now.

Better queue to buy now.

It will up again soon

Posted by Lpc1225 > 2021-08-19 20:14 | Report Abuse

Inari down,insas up,inari up,insas LAGI up!

Posted by stockraider > 2021-08-20 09:48 | Report Abuse

Good stock

Posted by Diamond7 > 2021-08-21 13:54 | Report Abuse

Hidden gem!!!
Highly undervalue!!!
Directors
Please give us more than 2 cents dividend...
4 cents la.....
Plus special dividend....

Posted by stockraider > 2021-08-21 14:44 | Report Abuse

U go...back to australia mah!

Insas should Give more dividend mah....it is solid tangible thing loh!


Posted by leno > Aug 21, 2021 2:42 PM | Report Abuse

fak u !
Leno suggest cancel dividend for this year
but give us 5 more free warrants for leno to goreng !!

Posted by stockraider > 2021-08-21 15:11 | Report Abuse

Lu kasi jual...lu punya wc baru cakap mah!

Fak u loh!

Posted by leno > Aug 21, 2021 3:08 PM | Report Abuse

warrant also solid tangible lah bongok !!
U just sell the warrant and u get cash.
U think u sell warrant, u get angin aaa ?
Fak U again !!

Posted by stockraider > 2021-08-21 15:12 | Report Abuse

good luck

Posted by stockraider > 2021-08-21 15:18 | Report Abuse

Dividend first...warrant later mah!

Corp exercise already done recently...need to wait 6 mths to 1 year mah!

Lu tau boh ?


Posted by leno > Aug 21, 2021 3:16 PM | Report Abuse

so ?
what is the moral ?
Dividend, warrant ?
Both, Neither or what ?

The answer is
Always Go Back to Basic.
Diversion is just a waste of time and energy.

This is the True Form of Value Investing.

Posted by Sslee > 2021-08-21 16:15 | Report Abuse

Diamond7 Hidden gem!!!
Highly undervalue!!!
Directors
Please give us more than 2 cents dividend...
4 cents la.....
Plus special dividend....
21/08/2021 1:54 PM

Haha.
Yes also share dividend(distribution of treasury share) or if possible distribution of inari share.

Posted by dchin472 > 2021-08-21 16:34 | Report Abuse

leno you alrd jadi reminser hahahah

Posted by PSAi3alert > 2021-08-21 18:53 | Report Abuse

Dividend is a WANT not a HOPE.

"If you ever want dividend badly, let it go. If it comes back to you, then it's yours forever. Well, at least until the next rights issue or private placement. If it doesn't, then it was never yours to begin with". - Indecent Proposal remixed by PSAi3alert

Posted by stockraider > 2021-08-21 18:58 | Report Abuse

Whether dividend is a want or hope...insas is going to pay high dividend due to current very high record profits mah!


Posted by PSAi3alert > Aug 21, 2021 6:53 PM | Report Abuse

Dividend is a WANT not a HOPE.

"If you ever want dividend badly, let it go. If it comes back to you, then it's yours forever. Well, at least until the next rights issue or private placement. If it doesn't, then it was never yours to begin with". - Indecent Proposal remixed by PSAi3alert

Posted by rchi > 2021-08-21 19:22 | Report Abuse

Lol.

leno > Aug 21, 2021 7:18 PM | Report Abuse

see,
the above is a very good example
of 2 donkeys discussing Useless thing of
is dividend is a want or it is a hope.

Do not get distracted with these things.
It will become a stupeed habit.

Cheers !

Posted by stockraider > 2021-08-21 19:23 | Report Abuse

When u rear cows ...u either go for the milk or the meat mah!

The rest of cow use other than the 2 above are useless mah!

Thus milk & meat are the fundamental of the cow loh!

Coming back to stocks...the fundamentals are either for dividend or capital gain mah!

The rest are useless loh!

Stick to fundamental & focus on fundamental mah!

Leno is talking rubbish loh!


Posted by leno > Aug 21, 2021 7:18 PM | Report Abuse

see,
the above is a very good example
of 2 donkeys discussing Useless thing of
is dividend is a want or it is a hope.

Do not get distracted with these things.
It will become a stupeed habit.

Posted by rchi > 2021-08-21 19:27 | Report Abuse

Hahaha.Investing is boring stuff.Leno makes it a bit interesting.

Posted by stockraider > 2021-08-21 19:35 | Report Abuse

Leno talk about donkey & stock mah!

To make leno understand...raider need to talk cow & stock mah!

Lu tau boh ?


Posted by leno > Aug 21, 2021 7:28 PM | Report Abuse

now talking about cow.

I rest my case.

Posted by PSAi3alert > 2021-08-21 19:39 | Report Abuse

Seriously, dividend is a WANT.

The worst thing about wanting something really badly is to have it.

I will next post about dividend smoothing to show issues that will not show up using Beneish M, ratio analysis or Altman Z-Score.

Have dinner first.

Posted by stockfreak > 2021-08-21 19:59 | Report Abuse

Please go to Tomei's thread. People over there need your help.

Posted by rchi > 2021-08-21 20:21 | Report Abuse

Leno.You are contradicting yourself.How can a donkey comprehend Ben graham? Hahahahaha.

Posted by leno > Aug 21, 2021 7:46 PM | Report Abuse

i am not talking about donkey and stock.
i say u are donkey.
Why must make thing so complicated ?

Posted by PSAi3alert > 2021-08-21 22:26 | Report Abuse

As mentioned, dividend is a WANT and if that is perceived to be the key lever for share price; that's what investors will get.

And in the pursuit of dishing out dividends, the cumulative dividends issued will be greater than the amount of money gained from the business operations.

In order to satisfy the WANT of dividends, there will be constant request for cash in the form of share issuance, private placement, rights issues, warrant conversions, etc.

The amount of cash request will and have eventually be greater than the dividends that were issued.

Ultimately, a situation called dividend smoothing will arise.


FYE 30/06/2013 - 08/09/2021
Cumulative Net Profit (NP): RM1,609.298M
Cumulative Depreciation: RM560.837M
Cumulative Purchase of PPE: RM911.002M

Cumulative (NP + Depr. - PPE purchase): RM1,259.133M

Cumulative Dividend Paid: RM1,128.260M

Cumulative Issuance of shares, PP, rights proceeds, etc: RM1,783.715M


FYE 30/06/2017 - 08/09/2021
Cumulative Net Profit (NP): RM1,168.263M
Cumulative Depreciation: RM443.231M
Cumulative Purchase of PPE: RM646.976M

Cumulative (NP + Depr. - PPE purchase): RM964.518M

Cumulative Dividend Paid: RM956.972M

Cumulative Issuance of shares, PP, rights proceeds, etc: RM1,473.128M


Dividend / Prior year (Net Profit + Depr – PPE purchase)
06/2021: 131.95%
06/2020: 136.27%
06/2019: 113.83%
06/2018: 114.29%
06/2017: 142.70%
06/2016: 59.10%
06/2015: 57.99%


p.s. Benjamin Graham lived in simpler times. Today, it's important to learn skills from Culinary Institute of America (CIA) or Culinary Institute of Ampang (CIA).

Live Long & Prosper,

Public Service Announcement @ i3 Alert

Posted by Diamond7 > 2021-08-22 09:43 | Report Abuse

@ Leno

Good! Excellent pick!!!

I will follow you!!!

Posted by Bgt 9963 > 2021-08-22 11:38 |

Post removed.Why?

Posted by rchi > 2021-08-22 13:31 | Report Abuse

All fak techs ady turun.Insas wc masih naik
Leno pandai !

Posted by i3lurker > 2021-08-22 13:37 | Report Abuse

thats easy

raider is a conman who worships Sith Lord
Leno is not a conman