Insas Ann. Date Date Type Units Price View 24-Apr-2024 25-Apr-2024 Exercise of Warrants 49,000 0.900 Additional Listing Detail 08-Apr-2024 09-Apr-2024 Exercise of Warrants 1,590 0.900 Additional Listing Detail 05-Mar-2024 06-Mar-2024 Exercise of Warrants 37,000 0.900 Additional Listing Detail
I have heard insas already doing financing for microlink. Apparently some people blame thong for the mess at Omesti and microlink so he is forced to bailout microlink. Apparantly he is very arrogant the insas is his and the board will do as they are told …
Another interesting Corporate Politics, someone is testing the water to see the exercising Warrants 49,000 even though it is OUT OF MONEY at current price RM1.03.
If Thong is careful, he will have enough Warrants to convert his INSAS WA to secure >50.01% ordinary shares from current 32.9%.
SSLee is expert to calculate THong’s true holdings via his friendly allies or proxies.
Thong will not do anything. He has already become rich my draining cash from insas and doing his own developments and business . For big development in bukit damansara he did with another partner. He has not interest in doing anything with insas when the board are muppets/puppets and he controls everything.
https://theedgemalaysia.com/node/709336 Not sure this is the first to change opinion on inari and others will follow or just someone low balling … definitely think insas should sell inari as enough profit . It could drop a lot …
Thong is so desperate not to look like the failed investor he is that he will never sell the inari stake. Even if it costs insas shareholders 1 billion ringgit he does not care. His ego is more important
Those invested in Insas should know better many of those holding: Omesti, Hohup and etc were legacy holding from M&A margin finance and Insas credit and leasing pledged shares securities that somehow end up in Insas.
So are you also a failed investor for investing in Insas?
Eight years ago when I first bought into Insas, it was hovering around 65 sen and Inari at that time around one ringgit. After 8 years Insas is today at 1.02 while Inari at 3.06.
In the past 8 years Inari gave bonus shares twice , a 1 for 1 bonus issue in 2017 and a 1 for 2 bonus issue in 2018. So 1 Inari shares 8 years ago, then trading at around one ringgit has become 3 shares at 3.06 today.
8 years ago Thong and PAC already held close to 33% in Insas and there has been no changes since. 8 years ago how much Inari did Thong personally held? How much does he still hold?
Insas % holding in Inari has been diluted due to ESOS and PP. Insas also sold some Inari to take profit and thus enable Insas to accumulate cash and bank deposit to the tune of over RM 1 billion.
Thong and Insas directors normally will exercise their ESOS and sold Inari share in open market to take profit. During the last inari AGM inari shareholders vote against allocation of ESOS to Thong.
What do you expect when you are running M&A securities and Insas credit and leasing?
Know what is direct business transaction? Against investing your excess cash into financial fair value assets or investing into short term money market?
If clients pledged shares securities for margin finance with M&A Securities or financing loan with Insas credit and leasing and if clients default who will end up holding the pledged shares?
@sslee so you now agree this was thing’s decision. And yes because he agreed to do this is why the whole situation has come about. This is your “somehow” . Previously you said lending money to the likes of microlink was good an no issue, what happens when like Hoh up, Omesti .. microlink also same . I was will end of with shares in another dead company that thing has sat on the board for over 10 years ..
If only you have run a business then you will know bad or good business deal is part and pacel of running a business, what more when you are running a stock broking, IPO, PP, M&A advisory, underwitter, placement agent and ah long lending business.
You make a very ignorant comment that I don’t own or have owned business to suit your argument. So now you agree the. That hohup, microlink and Omesti Dgsb all bad decisions . Not sure what is left in your point that you say thong is so good at investment . You keep changing your point 🤷
Yes and you seem to do well at it which is great. But I feel my point is still very valid. If thong had a boss he would have been fired for so many mistakes .
What do you think of Thong a good investor or bad investor for waiting patiently and timing his move when to use his holding in warrants to increase his and his PAC insas holding from 32.96% to more than 50% at lowest cost to him and his PAC?
The rm92 million thong is telling the insas board they have to approve for microlink is clouded on the fact thong has done a deal to get his son on the board and that other directors are putting thong at the centre of why microlink has gone from 90 cents to 30 cents. That is not a clean well thought out reason.
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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....
TheContrarian
9,505 posts
Posted by TheContrarian > 2024-04-23 20:16 | Report Abuse
There's no tussle, buyer and seller is the same person.