All big holdings except inari on deep trouble due to thong’s terrible management and investment plan. The board of insas should be fired !! Omesti drop to near junk status with hohup and microlink 52 week if not years low. Also what is worth no cash so will come to thong and he will use insas cash so he does not have to admit he is useless !!
Posted by UncleFollower > 1 day ago | Report Abuse
Both my mother share and warrants turned marginally green today...thanks to averaging down at 0.235. Now what. Hold cos good value? Run cos everyone uber negative? Buy cos chart turning up?
Yesterday my jayatiasa dividend RM 22.5K already in the bank. Leno invest in Insas-WC no dividend income and against Insas increase the dividend payment.
Repost: Dumbass Mike-tikus below how M&A report its Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income for the Quarter Ended 31 December 2023. So go and figure out how Insas consolidate the M&A account ? And what are Other Operating Expense RM (12,173,000) and Other Operating Income RM 5,728,000 ?
Quarter Ended 31/12/2023 RM'000 Revenue 13,173 Cost of Sales 3 Other Operating Expense (12,173) Other Operating Income 5,728 Profit from Operations 6,731
By thevway this year so far my dividend reveived already 90+K. Month end another dividend from KPS and next month from OSK and MHC. Mike-tikus don't get envy ya!
Mike-tikus what is your book lose in jaks? No more boasting 1 sen up is 6 digits gain🥲😱
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 .............
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)
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Posted by Tatooine > 2024-04-02 15:08 | Report Abuse
All big holdings except inari on deep trouble due to thong’s terrible management and investment plan. The board of insas should be fired !! Omesti drop to near junk status with hohup and microlink 52 week if not years low. Also what is worth no cash so will come to thong and he will use insas cash so he does not have to admit he is useless !!