Mike TA say jaks floor 19 is the ground floor so trapped himself at floor 19 and can't walk out. If jaks default on bank borrowing payment then it will be a PN17 company and became really penny stock and Mike-tikus can then easily jump from floor 1 to .............
Haha LSS5 2000 MW RFP is as scheduled started on April 2024 … but the Submission Dateline is by 25 July 2024 … Not December 2024 .
The solar power plants under the LSS5 are scheduled to start operating in 2026.
Jaks had won LSS4 50MW and is the 1st One which achieved COD on August 2023 .
Jaks had won the CGPP ( Corporate Green Power Program ) 29.99 MW Solar Project on August 2023 …together 👉👉👉with its consortium partners, Ann Joo Green Energy Sdn. Bhd. and Fabulous Sunview Sdn. Bhd.
Investing is boring and lonely without the presence of SSLEE, income, stockraider, orang tua, last but not least--->> LENO the world most intelligent cat.
Mr Lee Soon Sheng, a shareholder mentioned that he intends to mobilize not less than 50 shareholders to send in requisition to move and vote on resolution requiring special notice under Section 322 of the Companies Act 2016 at the 57th AGM of INSAS : To approve share distribution on the basis of one (1) Inari Amertron Berhad (“INARI”) (Company No. 1000809-U) share for every two (2) existing ordinary INSAS shares of RM1.00 held in the Company.
His reasons for doing so are: (a) To boost the INSAS share market price above RM1.00 so that warrant holders have the opportunity to convert their warrant with payment of RM1.00 into INSAS share and at the same time receive the INARI share distribution rather than total losses if warrants expired on 25/2/2020 out of money. By so doing INSAS will receive RM265,202,536 and can utilize half of the sum to redeem the RPS.
(b) Reward the existing shareholders by distributing the INARI share to them and make it less tempting for big shark to make a hostile take-over. Will the Board support the resolution? If NO what are the reasons for rejecting the resolution?
Board answer:
Based on the current depressed market conditions, the Board will not support such resolution as the Board believes that the distribution of INARI shares by way of dividend in specie or otherwise to all INSAS shareholders is not in the best interest of the Company. Reasons (amongst others): (a) for prudent management, INSAS needs to retain adequate reserves to weather any potential unforeseen deterioration in the market conditions, and to position the Group for future growth and any good investment opportunities which may arise during this downturn;
(b) pursuant to the Companies Act 2016, a company may only make a distribution to the shareholders out of profits of the company available. As of 30 June 2018, the available profit of the Company is RM22.0 million only; and the priority of the Board is to retain sufficient available profit to redeem the RM132.6 million RPS which are due to mature in February 2020;
(c) INSAS has more than 26,000 registered shareholders and the share distribution will create a large free float of INARI shares in the market, and the increased liquidity will likely depress further the market price of INARI; and
(d) INARI contributes a significant annual equity profit and cash dividends to INSAS.
“TheContrarian > 1 hour ago Imagine 26,000 shareholders trying to get out of Insas trap, no wonder Insas cannot break out.”
To be exact, the 26,000 shareholders could have escape “the trap” a few times since the year 2016. I have had “escape the trap” during the 2nd RI RPS and still holding 20% with average cost below 60sen. In retrospect, I did not reinvest the Dividend earned; and got trapped elsewhere…
"TheContrarian > 4 minutes ago | Only 260 shareholders escaped."
And ready to be "re-trapped" if price falls below 1 Ringgit?? Next escape opportunity could be after 3rd RI RPS?? Caution, past trend not necessary future movements pattern... Happy Trading and TradeAtYourOwnRisk
If one were to sell 100,000 Insas shares at 1.30 in January and buy back at 1.07 today, there's a cool RM20,000+ extra cash and you still own 100,000 shares.
“TheContrarian > 5 minutes ago I always wonder why people didn't sell off Insas at RM1.30+ in January.”
There is no if for shares investing; example why I invest 50% in MFCB around a Ringgit and 50% in Insas around 50sen few year ago? Reason: Insas half the value of MFCB. As price doesn't matter, it is the unknown “if” I have invested more in MFCB or Insas; the fortune could be reversed in a few years time? Now, my MFCB (still holding with 1 to 1 BI) is getting more than twice the return compared with Insas as per my recent calc…(Sorry, telling the gain only. My ICPS investment another story; making 100% one day paper gain, losing back the next day without opportunity to sell)
Believed is one thing, getting to par value of NTA RM3.57 will make one happy. Some more at zero cost after taking selling profit into consideration. Trapped or not is no more important; as one famous Forumer boasted, lock in safe and throw away the key. Haha
Surprisingly Insas was red the whole day, there was not a single trade done at 1.08. Insas NTA RM3.57 but no one willing to buy at RM1.08? What is the reason? Why is Insas shunned?
Insas volume traded dropped to merely 298,600 shares, the lowest since 5th January. What does this tell us? Selling drying up? Or a trap set to lure people to think so?
"Insas NTA RM3.57 but no one willing to buy at RM1.08? What is the reason? Why is Insas shunned?"
Very good questions. The answers/conditions could be how Insas went up from around 90sen to RM1.30 recently, an increase of roughly 45%. My "blow water (吹水)" thinking: '- rumors of takeover news or the lack of corporate activities can have an effect on share prices? '- financial changes from the norm? If every quarter has the same performance, no IB will notice to write a good report. '- what is the quality of assets in the NTA? Return of investment (ROI) will be a good indicator, how is Insas cash getting a good ROI? The question mark (?) is due to uncertainty as there is no right or wrong, as it is just an uncertified opinion…
Q buy more than Q sell. Mean those want to sell already sold. And buyers also do not want to chase high (thin trading volume) hence the price will stay range-bound till next quarter result out.
just wondering Income sifu (disclaimer: just a general discussion) has anyone questioning before the fall of YNH and Rapid etc...?
i mean most of the people care about only the share price movement instead of the company itself if Jaks share price movement remain consistently at the high side will anyone question?
"Sslee > Insas is definately not a con stock. Insas is just a value trap waiting for something or somone to unlock the value."
How do we define a "con stock" and a "trapped stock"? In a nutshell, buying high and staying low for a long period could be considered a "con stock" or a "trapped stock"... Insas RI of RPS every 5 years, is it a "con" act? I have made a gain close to 60sen/right selling the rights, to me, definitely not a "con stock" act. It is up to individual action. What if for those who chase up to RM1.30 during recent meteoric rise and drop back to around a Ringgit? They will feel conned and trapped..Just my opinion.
let's take the following examples: Stock A: Value stock, annual ROI for an investor/trader: 5% Stock B: average stock, annual ROI for an investor/trader: 10% Stock C: suspected con stock, annual ROI for an investor/trader: 20%
Those who chase up to RM 1.30 no worries one fine day Insas will reach my TP of RM 1.50 and beyond.
This will depend on whether there are any hostile take over or BOD managed to employ Insas RM billion cash hoard into new business that generate more revenue, more profit and give better dividend.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Income
10,345 posts
Posted by Income > 3 weeks ago | Report Abuse
Just Another Kon Stock??? jks…