But there are interesting links between people and 3rd party companies. I am actually enjoying this. From hohup land to revers takeover. My aim is to have enough to make current board accountable .
I have heard the repeated rumours but the buying strength of inari looks like something is happening. Hopefully so as a sale would force insas board to return funds to shareholders and it would be 3x current share price
got to be very patient and wait for those who hold very big amount of wc to plan their action.Meanwhile just collect your 2.5c dividend, Bob hu hae ma hor.
Insas dividend so bad the director Tan Seng Chuan has to sell his Inari shares !! Over a Billion in cash in the bank and he is forced to sell Inari shares as Thong will not allow him to give out a proper dividend to Insas shareholders.
INSAS dividend is crap EWINT gets 6 sen payable Jan 2024 and management guidance confirmed another 24 sen dividend in 2024. Looks achievable. end up EWINT share is always free
ORDINARY RESOLUTIONS 2 TO 9 PROPOSED ALLOCATION OF ESOS OPTIONS UNDER THE PROPOSED ESOS “THAT subject to the passing of Ordinary Resolution 1 and the approvals of all relevant authorities and/or parties being obtained, approval be and is hereby given to the Board to authorise the ESOS Committee, at any time and from time to time throughout the duration of the ESOS, to offer and grant to the following persons, ESOS Options to subscribe for new Shares under the Proposed ESOS: (i) Y.A.M. Tengku Puteri Seri Kemala Tengku Hajjah Aishah Binti Almarhum Sultan Haji Ahmad Shah, DK(II), SIMP (Chairperson, Independent Non-Executive Director) Ordinary Resolution 2 (ii) Dato’ Dr. Tan Seng Chuan (Executive Vice Chairman) Ordinary Resolution 3 (iii) Lau Kean Cheong (Executive Director cum Group Chief Executive Officer) Ordinary Resolution 4 (iv) Dato’ Wong Gian Kui (Executive Director) Ordinary Resolution 5 (v) Ho Phon Guan (Executive Director) Ordinary Resolution 6 (vi) Mai Mang Lee (Executive Director) Ordinary Resolution 7 (vii) Dato’ Sri Thong Kok Khee (Non-Independent Non-Executive Director) Ordinary Resolution 8 (viii) Datuk Phang Ah Tong (Independent Non-Executive Director) Ordinary Resolution 9
Resolutions 2 and 8 was voted against. So now Dato’ Sri Thong Kok Khee one less income from Inari ESSO.
Thong is so rich now he does not care. He most likely will, just like other linked companies, put his inexperienced kids on as directors to add more money to their gravy train... If he actually wanted to or was brave enough to do the right thing, he would take it private or reward long-suffering minority shareholders, but he is not that kind of good businessman.
If you review the financials of the company, you will see a 2.5 sen dividend is a very poor performance. the interest on cash in bank has a higher return! Thing treats this as his own pet company and does not like shareholders. I had a meeting with other Insas shareholders and no one says anything good about Thong or how he manages Insas. If he had not been good/lucky with inari he would be just another businessman making little money. It is a deep shame as he could have a very opposite reputation if he gave shareholders their own money back in a special dividend,
Stock [INARI]: INARI AMERTRON BERHAD Announcement Date 27-Dec-2023 Reference No CS2-18072022-00070 Substantial Shareholder's Particular: Name INSAS BERHAD Details of Changes: Currency - Date of Change Type Number of Shares 22-Dec-2023 Disposed 5,000,000 Registered Name Insas Technology Berhad Nature of Interest Indirect Interest 22-Dec-2023 Acquired 5,000,000 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 and disposal via Direct Business Transaction Total no of securities after change Direct (units) 0 Direct (%) 0.00 Indirect (units) 537,008,575 Indirect (%) 14.33 Total (units) 537,008,575 Total (%) 14.33 Date of Notice 27-Dec-2023
Guess next quarter result how much will insas report on gain on dispisal of shares in an associate company on above transaction ?
About 15million (2+EPS), about the same as the amount needed to pay for the dividend (17m). Bank so much money not enough pay the upcoming dividend? Bank so much money sell Inari share do what? Or new year liao, need to pay bonus/angpau for the directors.
No real money gain only accounting gain as 5,000,000 inari shares is transfered from Insas Technology Berhad to M & A Nominee (Asing) Sdn Bhd for Media Lang Limited
Remarks : Indirect interest:-
(1) Insas Technology Berhad - 409,769,375 (2) Insas Plaza Sdn Bhd - 103,872,700 (No change) (3) Media Lang Limited - 22,216,500 (4) Montego Assets Limited - 850,000 (No change) (5) Montego (S) Pte Ltd - 300,000 (No change)
osted by UlarSawa > 32 minutes ago | Report Abuse Haiyoh you still TP 75sen lagi kah. Even MikeJohnChew want Insas pecah 80 sen pun more than 6 mths pun cannot pecah. Haiyoh. Correct?
below RM1 so long already got chance got chance if it fly just let go bro
Insas over 1 billion cash and major shareholding in profitable strong company and little debt. Cannot even compare to capital A , which looks like it will get delisted.
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Posted by Tatooine > 2023-12-05 10:02 | Report Abuse
But there are interesting links between people and 3rd party companies. I am actually enjoying this. From hohup land to revers takeover. My aim is to have enough to make current board accountable .