Posted by Income > 2022-12-04 07:57 | Report Abuse

I seconded Philip on this Insas debate. I have being looking around at Insas activities for almost a few decades. I know what Philip said above is the truth. The truth really hurts.

Posted by Philip ( buy what you understand) > 2022-12-04 08:05 | Report Abuse

Now, what would make me buy insas?
1. If insas current directorsand managers remove themselves day to day operations and find a new capable management. As insas is full of potential but not well managed, I recall the act of texchem boss hiring and changing of sushi King manager which was a brilliant move increasing sushi king returns over the years and growing new store count which wasn't done during previous management.
2. If similar to myeg brilliant listing of agmo, or Vincent tan split of bjfood and bauto, management sells their inari stock and rewards all shareholders with special dividend to reduce the gap of nav, unlock value for all shareholders instead of holding partners hostage.
3. They become more transparent in the direction that they are going instead of trying to be everything to everyone. Instead of going for property development and biotech and car rental and clothing line( let's face it not everyone is Warren buffet), they could have concentrated on making their m&a trading and listing arm the best in the business as it is what they know best. By simplifying their business model and concentrating on app trading, blockchain listing, starting up a new angel investing or crowdfunding platform that ties into their business which is where their talents lie, it would bring much better synergy and returns than sending money to a biotechnology firm based in Brunei that is just bleeding money with no returns, or a loss making car rental company in Singapore in the age of grab, or that ewallet vigsys scam that burnt millions of shareholder equity.

Just like I buy what I understand, I believe insas would do much much better investing in businesses that they understand.

I think insas is a company that is worth investing in, but the management is one that I would walk far far away from if I see them on the street.

Posted by Sslee > 2022-12-04 08:20 | Report Abuse

Just to rebut Philip with facts and figures.
Insas already sold your so called biotechnology and Singapore car rental business last year and this year already closed down Numoni Technology Pte. Ltd.

So please check your facts how much Insas profited from the sales of Sengenics biotech?

Posted by Philip ( buy what you understand) > 2022-12-04 08:22 | Report Abuse

The simple question I keep asking myself is this: which son told the dad to to buy and put sensecube as a subsidiary of the company? What is this nonsense with m&a disposal and syf? Are all this shenanigans shareholder friendly or another way to slowly suck money out of the company?
Insas is like a golden bottle where the directors are quietly trying to suck money out as fast as possible without shareholders noticing. FYI, the owners have once remarked that insas is the most undervalued company in bursa.

Did you think that they would not find a way to unlock it any way they knew how?

Posted by Philip ( buy what you understand) > 2022-12-04 08:25 | Report Abuse

Yes, do tell me how much insas paid to start up the car rental company, then how much the ex manager paid to insas to take it private. Rebut me please. How much money did shareholders and insas gain from sales of the Singapore car agency?

>>>>>>
Sslee

Just to rebut Philip with facts and figures.
Insas already sold your so called biotechnology and Singapore car rental business last year and this year already closed down Numoni Technology Pte. Ltd.

So please check your facts how much Insas profited from the sales of Sengenics biotech?

Posted by Philip ( buy what you understand) > 2022-12-04 08:25 | Report Abuse

Don't forget to add in the yearly expenses and losses throughout its entire lifetime, which was paid by insas

Posted by Sslee > 2022-12-04 08:26 | Report Abuse

From 2021 annual report.
Gain on disposal of unquoted investments RM 77,599,000

Posted by Philip ( buy what you understand) > 2022-12-04 08:31 | Report Abuse

Come on, you can do better than that.
>>>>>

Sslee

From 2021 annual report.
Gain on disposal of unquoted investments RM 77,599,000

3 minutes ago

Posted by Philip ( buy what you understand) > 2022-12-04 08:35 | Report Abuse

https://www.theedgemarkets.com/article/insas-list-ma-securities-rto-syf-resources-valuing-stockbroker-12-times-book-value

Posted by Philip ( buy what you understand) > 2022-12-04 08:35 | Report Abuse

https://www.thestar.com.my/Business/Business-News/2015/06/27/Insas-creates-a-listable-financial-technology-outfit

Posted by Philip ( buy what you understand) > 2022-12-04 08:36 | Report Abuse

So many nonsense stories, you still believe?

Posted by Sslee > 2022-12-04 08:59 | Report Abuse

Repost my advise to i3lurker which I applied now as no point argue with someone just wants to be right all the time when you have pointed to him the figure under other incomes for 2021:

Posted by Philip ( buy what you understand) > Dec 4, 2022 8:31 AM | Report Abuse
Come on, you can do better than that.
>>>>>
Sslee
From 2021 annual report.
Gain on disposal of unquoted investments RM 77,599,000
3 minutes ago


Dec 2, 2022 5:15 PM | Report Abuse
My friend I3lurker,
Remember what the lion said in the story of a lion, a tiger and a donkey:

The lion replied, “That has nothing to do with the question of whether grass is blue or green. The punishment is because it is degrading for a brave and intelligent creature like you to waste time arguing with an ass and on top of that you came and bother me with that question just to validate something you already knew was true. You see the biggest waste of time is arguing with a fool and fanatic who doesn’t care about truth or reality but only the victory of his or her believes or illusions. Never waste time on discussion that makes no sense, that there are people who for all the evidences presented to them do not have the ability to understand. Not that they won’t understand they just wanna to argue. Others who are blinded by ego or hatred and resentment, the only things that they want is to be right even if they aren’t. The saying goes, when the ignorant screams intelligence moves on.”

So don't stoop to their level because you can’t win an argument with XXX

Posted by Philip ( buy what you understand) > 2022-12-04 11:01 | Report Abuse

Let's be honest here for a while.
Roset was started in 2004 as a limousine rental company and later sold to ex management/relative Thong for a measly amount. They then spent 4.5 million to bring in tesla ev car into local market with no idea how to do marketing, servicing and repair.

Stoop to their level? Tell me how much roset loses each year in operations and who pays for it? Who pays for thong salary every year as director and manager of roset? Where did the money go before they decided to sell to thong for cash and "considerations". Was it a profitable 18 year investment?

That is the real reason for the low pe and institutional e belief in insas performance and capability.

UNIT TO DISPOSE ROSET LIMOUSINE SERVICES & ROSET AUTO CARE SERVICES FOR A TOTAL CASH CONSIDERATION OF S$ 3.8 MILLION.

Posted by TheContrarian > 2022-12-14 12:25 | Report Abuse

Calling out to Mr Sslee : please instruct Insas to announce dividend payment date.

Posted by Sslee > 2022-12-14 14:51 | Report Abuse

Annoucement of dividend ex-date and payment date will be released tomorrow.

Posted by stockraider > 2022-12-15 08:17 | Report Abuse

Haiyah....cars & car rental are never....insas expertise mah!

Investment, finance and technology are the core competence of insas loh!

Lu tau boh ?

Posted by Philip ( buy what you understand) > 1 week ago | Report Abuse

Let's be honest here for a while.
Roset was started in 2004 as a limousine rental company and later sold to ex management/relative Thong for a measly amount. They then spent 4.5 million to bring in tesla ev car into local market with no idea how to do marketing, servicing and repair.

Stoop to their level? Tell me how much roset loses each year in operations and who pays for it? Who pays for thong salary every year as director and manager of roset? Where did the money go before they decided to sell to thong for cash and "considerations". Was it a profitable 18 year investment?

That is the real reason for the low pe and institutional e belief in insas performance and capability.

UNIT TO DISPOSE ROSET LIMOUSINE SERVICES & ROSET AUTO CARE SERVICES FOR A TOTAL CASH CONSIDERATION OF S$ 3.8 MILLION.

Posted by stockraider > 2022-12-15 08:18 | Report Abuse

Put it this way loh!

Going fwd at current price QL Rm 5.65 v insas Rm 0.805.....insas will win lah!
Even petchem at rm 8.50 v insas rm 0.805......petchem will lose loh!

The key point to note & undervalue counter like insas stand a better chance to win say within 1 year loh!

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-15 16:23 | Report Abuse

Insas

Fiscal year is July-June. All values MYR Millions.
2022
2021
2020
2019
2018
5-year trend


Cash & Short Term Investments
1,163
1,124
827
885
915

ST Debt & Current Portion LT Debt
248
224
338
441
275

Long-Term Debt
162
161
29
74
205





Fiscal year is July-June. All values MYR Thousands.
Interest Expense
16,188.0
15,217.0
21,452.0
23,220.0
22,790.0

Non-Operating Interest Income
11,514.0
10,690.0
14,712.0
19,973.0
16,297.0

Posted by Sslee > 2022-12-15 17:29 | Report Abuse

INSAS] Interim Dividend on 15-Dec-2022
Stock [INSAS]: INSAS BHD
Announcement Date 15-Dec-2022
Reference No ENT-08122022-00003
Corporate Action ID MY221208DVCA0003
Financial Year 30-Jun-2023
Subject Interim Dividend
Type Dividend - Normal or Special
Description Interim single tier dividend of 2.5 sen per ordinary share
Amount RM 0.0250
Ex Date 30-Dec-2022
Entitlement Date 03-Jan-2023
Payment Date 17-Jan-2023

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-15 20:42 | Report Abuse

All values MYR Thousands.
2022
2021
2020
2019
2018
5-year trend

Cash Dividends Paid - Total
(16,575.0)
(13,260.0)
(13,260.0)
(13,260.0)
(6,630.0)

Posted by Sslee > 2022-12-16 11:51 | Report Abuse

RATIONALE FOR THE PROPOSED M&A DISPOSAL
The Proposed M&A Disposal is essentially a backdoor listing of M&A via SYF, which will enable
Insas to unlock value by monetising and securitising its investment in M&A, by creating a
separate listing platform for M&A Group on the Main Market of Bursa Securities.
In addition, the listing status of M&A Group on the Main Market of Bursa Securities will enable
it to:
(a) raise its future equity and debt funding requirement through the capital market independently from Insas Group;
(b) expand its customer base,
(c) retain and attract new employees from the financial services industry; and
(d) allow investors to separately appraise the business strategies, risks and returns of M&A
Group independently from Insas Group.

Posted by xskyriver > 2022-12-16 12:36 | Report Abuse

wow, is this insider news?

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2022-12-16 16:31 | Report Abuse

>>>>

Insas

Fiscal year is July-June. All values MYR Millions.
2022
2021
2020
2019
2018
5-year trend


Cash & Short Term Investments
1,163
1,124
827
885
915

ST Debt & Current Portion LT Debt
248
224
338
441
275

Long-Term Debt
162
161
29
74
205





Fiscal year is July-June. All values MYR Thousands.
Interest Expense
16,188.0
15,217.0
21,452.0
23,220.0
22,790.0

Non-Operating Interest Income
11,514.0
10,690.0
14,712.0
19,973.0
16,297.0

>>>>

Insas reported having cash of RM 1,163 million (1.163 billion) in 2022.
It also reported non-operating interest income of RM 11.514 million for the same period.

11.514/1,163 = 0.99%.

In 2022, it reported total debts of RM 248 m (ST Debt) + RM 162 m (LT Debt) =RM 410m
In the same period, it incurred interest expense of RM16.188 m.

16.188 m / 410 m = 3.948%


Can SS Lee be kind to elaborate on the above?

A company maybe priced very low relative to its book value for various reasons. Perhaps, the market has priced this stock wrongly, thus it is extremely undervalued.
OTOH, the market may have priced it correctly due to various risks not obvious or highlighted.
Be careful, when the price of a company is low, all the valuation parameters, eg. P/E, P/NAV and DY look very enticing. Still need to understand a lot more why it is priced like it is today. It had been priced likeso for a long time too.

Posted by Sslee > 2022-12-16 17:38 | Report Abuse

Cash and bank balance (current account) for working capital will not earned you much interest income.
FD with foreign current also very low interest rate:
Q1 end 30 Sept 2022 interest income is now higher than financial cost.
Period ended: Period ended
30/09/2022: 30/09/2021
RM'000: RM'000
Finance costs: 4,518: 3,842
Interest income: 5,130: 2,901

So expected interest income for the year RM 5,130,000 X4 = RM 20,520,000
With FD of RM 602,424,000 the effective interest rate: 20.52/602.424 = 3.4%

2022: 2021
RM’000
Deposits with licensed banks and financial institutions: 602,424: 489,106
Cash and bank balances: 311,912: 413,692

US: Singapore : Sterling: Australian: Hong Kong: Other
Dollar: Dollar: Euro: Pound: Dollar: Dollar: currencies Total
RM’000: RM’000: RM’000: RM’000: RM’000: RM’000: RM’000: RM’000
FD: 52,532: 31,647: –: 23,425: 867: –: – : 108,471
Cash and current account: 25,358: 49,512: 2,835: 2,503: 114,418: 11,127: 793: 206,546

Posted by Sslee > 2022-12-16 17:42 | Report Abuse

By the way as at Q1 end 30 Sept 2022, Insas management had moved more money from Cash and bank balance to Deposits with licensed banks and financial institutions.
RM'000
Deposits with licensed banks and financial institutions: 757,724
Cash and bank balances: 180,113

Posted by Sslee > 2022-12-16 17:52 | Report Abuse

3iii and anyone please if you got good investment please drop a note to me.
Insas FD is now RM 757,724,000.

[25/08, 22:56] Lee Soon Sheng: Dato found some good investments for Insas to employ it cash.
Then with increase EPS and dividend very fast Insas will reach RM 1.50.

[25/08, 22:58] Dato' Wong: Current market is uncertain, but we are looking out for good investment opportunities. If u have, pls connect me.

Those deals in the market now are mostly real estates

Posted by 10bagger10 > 2022-12-19 12:15 | Report Abuse

What happen

Posted by TheContrarian > 2022-12-19 12:15 | Report Abuse

Insas cantek.

Posted by 10bagger10 > 2022-12-19 12:32 | Report Abuse

Why suddenly cantik?

Posted by TheContrarian > 2022-12-19 13:51 | Report Abuse

Insas got RM757,724,000 in FD sure cantek.

Posted by Sslee > 2022-12-19 14:59 | Report Abuse

Stock [INARI]: INARI AMERTRON BERHAD
Announcement Date 18-Jul-2022
Reference No CS2-14072022-00039
Substantial Shareholder's Particular:
Name INSAS BERHAD
Details of Changes:
Currency -
Date of Change Type Number of Shares
13-Jul-2022 Acquired 200,000
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 Acquisition in the open market
Total no of securities after change
Direct (units) 537,008,575
Direct (%) 0.00
Indirect (units) 0
Indirect (%) 14.48
Total (units) 537,008,575
Total (%) 14.48
Date of Notice 18-Jul-2022

Insas got 537,008,575 units of Inari sure canteeeeeeeek

Posted by TheContrarian > 2022-12-19 15:12 | Report Abuse

Go, go, go Insas.

Posted by Mikecyc > 2022-12-19 20:50 |

Post removed.Why?

Posted by Mikecyc > 2022-12-19 20:53 | Report Abuse

Haha as posted here earlier, Insaf is keep selling Inari shares to maintain the Profit ….

Posted by Mikecyc > 2022-12-19 20:56 |

Post removed.Why?

Posted by TheContrarian > 2022-12-20 09:45 | Report Abuse

Insas cantek.

Posted by stockraider > 2022-12-20 11:44 | Report Abuse

Mari....mari....mari loh!!!!

Posted by stockraider > 2022-12-20 11:48 | Report Abuse

This 3iii talk like soahaii....surely the obvious answer is the mkt wrongly value insas mah!

Lu tau boh ???

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 3 days ago | Report Abuse

>>>>

Insas

Fiscal year is July-June. All values MYR Millions.
2022
2021
2020
2019
2018
5-year trend


Cash & Short Term Investments
1,163
1,124
827
885
915

ST Debt & Current Portion LT Debt
248
224
338
441
275

Long-Term Debt
162
161
29
74
205





Fiscal year is July-June. All values MYR Thousands.
Interest Expense
16,188.0
15,217.0
21,452.0
23,220.0
22,790.0

Non-Operating Interest Income
11,514.0
10,690.0
14,712.0
19,973.0
16,297.0

>>>>

Insas reported having cash of RM 1,163 million (1.163 billion) in 2022.
It also reported non-operating interest income of RM 11.514 million for the same period.

11.514/1,163 = 0.99%.

In 2022, it reported total debts of RM 248 m (ST Debt) + RM 162 m (LT Debt) =RM 410m
In the same period, it incurred interest expense of RM16.188 m.

16.188 m / 410 m = 3.948%


Can SS Lee be kind to elaborate on the above?

A company maybe priced very low relative to its book value for various reasons. Perhaps, the market has priced this stock wrongly, thus it is extremely undervalued.
OTOH, the market may have priced it correctly due to various risks not obvious or highlighted.
Be careful, when the price of a company is low, all the valuation parameters, eg. P/E, P/NAV and DY look very enticing. Still need to understand a lot more why it is priced like it is today. It had been priced likeso for a long time too.

Posted by Mikecyc > 2022-12-20 15:06 |

Post removed.Why?

Posted by Mikecyc > 2022-12-22 11:24 | Report Abuse

Haha alamak Micron want to retrench 10 % of its employees…

https://www.chinapress.com.my/?p=3249418

Posted by Mikecyc > 2022-12-22 11:30 | Report Abuse

Haha no worries…Micron employees is 48,000 vs Inari employees 5,680 ….

Posted by Philip ( buy what you understand) > 2022-12-22 11:32 | Report Abuse

3iii, if you want to know why insas is very very underprice?
This is the reason why:

[25/08, 22:56] Lee Soon Sheng: Dato found some good investments for Insas to employ it cash.
Then with increase EPS and dividend very fast Insas will reach RM 1.50.

[25/08, 22:58] Dato' Wong: Current market is uncertain, but we are looking out for good investment opportunities. If u have, pls connect me.

Those deals in the market now are mostly real estate

They dont know how to invest, and in recent years their investments are negative returns, which contribute to why no institution is buying insas. For me they have failed the management test, which is to make full use of retained earnings to grow company assets. And worse - they are not returning the unutilized cash back to shareholders.

And you wonder why I don't buy their shares.

and as to why their shares are up 5% today? you know i know la.

>>>>>>>
Can SS Lee be kind to elaborate on the above?

A company maybe priced very low relative to its book value for various reasons. Perhaps, the market has priced this stock wrongly, thus it is extremely undervalued.
OTOH, the market may have priced it correctly due to various risks not obvious or highlighted.
Be careful, when the price of a company is low, all the valuation parameters, eg. P/E, P/NAV and DY look very enticing. Still need to understand a lot more why it is priced like it is today. It had been priced likeso for a long time too.

Posted by Sslee > 2022-12-22 13:15 | Report Abuse

FY 2022 Dividend income: RM 62,339,000.
ICL revenue of RM30.9 million and pre-tax profit of RM22.3 million in FY 2022
M&A pre-tax profit of RM22.8 million in FY 2022

As at 30/9/2022
Deposits with licensed banks and financial institutions: RM 757,724,000 which earned interest income: RM 5,130,000 in Q1
Cash and bank balances: RM 180,113,000
Still holding 537,008,575 units of Inari.
Financial assets at fair value through profit or loss : RM 216,578,000

So is Philip do much better in his investment compare to Insas?
Should Philip also do a quarterly financial assets at fair value through profit or loss to see how his portfolio performed quarterly?

Note: His recent Harta must have earned him a lot of money? LOL

Posted by Mikecyc > 2022-12-22 15:21 | Report Abuse

Haha So Rich Company yet is So Poor … why need to issued 2 times RI with WB n WC to get funding from shareholders?? The RI with WC is Less Sweet than RI with WB …

——

As at 30/9/2022
Deposits with licensed banks and financial institutions: RM 757,724,000 which earned interest income: RM 5,130,000 in Q1
Cash and bank balances: RM 180,113,000
Still holding 537,008,575 units of Inari.
Financial assets at fair value through profit or loss : RM 216,578,000

Posted by Sslee > 2022-12-22 15:31 | Report Abuse

Sometime I wonder, I invested RM300k+ (10% excess application) for the RI with free WC and later sold all the PB and WC to top up Insas. Do I need to tell them how much I made from this move?

Posted by Mikecyc > 2022-12-23 07:48 | Report Abuse

Haha you forgotten what had you posted ? You said you did not sell at RM 1.20 … you missed the Gain opportunity… recalled is Loss ard RM 220,000 ( correct ? ) ..

Referred to your 2 Top 4 list that you own deleted after being exposed RM 0.885 is not averaging down but is averaging Up … then u Top Up to Top 30 .. posted a few times yr Averaging Up cost is ard RM 1.00 …

Haha same same to ur Bplant : from 150,000 shares Top Up to 500,000 shares .. did not sell at RM 1.20 …

Today price is RM 0.615 ..u had posted shl top up if price fall below RM 0.70 .. believe this is yr Cost range as you tabled before…


Posted by Sslee > 15 hours ago | Report Abuse

Sometime I wonder, I invested RM300k+ (10% excess application) for the RI with free WC and later sold all the PB and WC to top up Insas. Do I need to tell them how much I made from this move?

Posted by Mikecyc > 2022-12-23 08:28 | Report Abuse

Haha how about yr Petronm that you promoted here at RM 7.00 … crack here crack there crack your Head …

Posted by Sslee > 2022-12-23 09:58 | Report Abuse

ICL revenue of RM30.9 million and pre-tax profit of RM22.3 million in FY 2022.
Just to answer 3iii why borrow money?
Because financial cost is tax deductable hence just keep some borrowing as not nice as loan shark (ICL) with revenue of RM 30.9 million.
23/12/2022 9:57 AM

Posted by speakup > 2022-12-26 20:27 | Report Abuse

Mana insas sifu Leno?

Posted by Sslee > 2022-12-27 08:30 | Report Abuse

Leno regret not selling WC at 50 cents and migrate to Australia.

Public Nominees (Tempatan) Sdn Bhd: 18,101,200: 5.46
- Pledged Securities Account for Lee Hock Leong (E-PDG/SAN)