Posted by TheContrarian > 2024-05-11 15:46 | Report Abuse

Mikecyc, insaf lah.

Posted by Johnchew5 > 2024-05-11 15:46 |

Post removed.Why?

Posted by Johnchew5 > 2024-05-11 15:47 |

Post removed.Why?

Posted by Johnchew5 > 2024-05-11 15:48 |

Post removed.Why?

Posted by TheContrarian > 2024-05-11 15:53 | Report Abuse

Mikecyc, why do you keep doing it at Sslee?

Posted by investor77 > 2024-05-11 16:06 | Report Abuse

SsLee just disregard those who oppose you like Calvin Tan. Though I made losses in HYRC, I dont blame anyone. As you mentioned Insas has lots of good assets , very very undervalued, but share price difficult to move !! Coming quarter results will be good right, with disposal of some shares ?

Posted by WellnessAntiCancer > 2024-05-11 16:15 | Report Abuse

If you can find another Mr Thong able to increase NTA from 942 million to 2,474 million over 15 years ie 2011 to 2024 which is a 26.3% increase a year , let me know.

For now, Thong did terrific job adding value to company.

Golden rule is if someone criticises please come up with BETTER companies to invest. We all open to it.

Posted by TheContrarian > 2024-05-11 16:38 | Report Abuse

Kluang owns SBagan and SBagan owns Great Eastern, yesterday the share price flew high. I reveal to everyone now that Insas owns OCBC Bank and OCBC Bank owns Great Eastern, Insas gonaa fly on Monday, hahaha.

Posted by xiaoeh > 2024-05-11 16:49 | Report Abuse

OCBC is paying premium to get GE
does it matter to Insas....?

Posted by TheContrarian > 2024-05-11 17:17 | Report Abuse

Ah Thong is a great man, he has been suppressing the price of Insas shares since 2011 to enable ikan bilis to buy cheaply, now you only pay 30 sen for a ringgit. One day the great Ah Thong will buy your Insas shares at a ringgit for a ringgit.

Posted by TheContrarian > 2024-05-11 17:18 | Report Abuse

However, Leno will continue to wait for 60 ringgit.

Posted by xiaoeh > 2024-05-11 17:25 | Report Abuse

Insas is waiting for potential OCBC likes corporate to make it fully realized its value....
my 2 cents....

Posted by Lpc1225 > 2024-05-11 17:42 | Report Abuse

風姿花傳，
股韻君織。

Posted by TheContrarian > 2024-05-11 18:06 | Report Abuse

Must speak positively of Insas, so many people still trapped trying to get out. Hopefully Monday it goes limit up, hahaha.

Posted by Sslee > 2024-05-11 18:33 | Report Abuse

Dato' Sri Thong is a great poker player. He keeep his cards close to his chest but sooner or later he need to increase his and his PAC holding and trigger 33% MGO.

Most likely that will happen when he and his PAC convert their Insas-WC.

Insas will be profitable for many years to come but what investors looking for is growth catalyst that will give sustain earning growth and that can only be acheived if Insas deploy its cash hoard to generate more incomes.

Posted by TheContrarian > 2024-05-11 19:16 | Report Abuse

For Thong to exercise 230 million warrants to cross 50% shareholding which will cost him RM207 million. He and PAC currently holds more than RM50 million preference shares in Insas, so he would need funding for RM157 million.

Posted by TheContrarian > 2024-05-11 19:26 | Report Abuse

After crossing 50%, Thong and PAC will collectively hold around 448 million shares in the enlarged share capital of Insas of 893 million. Insas can then pay out a dividend of 35 sen and Thong and PAC will receive around RM157 million, just nice to pay off the funding.

Posted by TheContrarian > 2024-05-11 19:28 | Report Abuse

This looks like the endgame to me, if I were Thong I would do this.

Posted by Sslee > 2024-05-11 19:30 | Report Abuse

Thong by law still need to prove to Bursa he had the financial support to make a MGO for Insas shares that he and his PAC not owned.

Posted by TheContrarian > 2024-05-11 19:34 | Report Abuse

@Sslee, yes, he needs either local or foreign banks for financial support, funding and backing and to show it to Bursa in order to undertake MGO but at low price of 90 sen there will be no acceptance of the general offer.

Posted by TheContrarian > 2024-05-11 19:36 | Report Abuse

Thong doesn't need to worry of privatizing Insas, he merely takes it across the 50% line cheaply.

Posted by TheContrarian > 2024-05-11 19:39 | Report Abuse

Thong thereafter will continue to suppress the market price of Insas and several years thereafter he could propose to privatize Insas via a Selective Capital Repayment at a low price since market price has always been low.

Posted by TheContrarian > 2024-05-11 19:41 | Report Abuse

Then this would be the ultimate end game for Insas, no chance to ever reach 60 ringgit or even 2 ringgit.

Posted by TheContrarian > 2024-05-11 19:43 | Report Abuse

Anyway, most people wouldn't be able to understand what I am saying. Insas now 30 sen for a ringgit, cheap sale, cheap sale.

Posted by TheContrarian > 2024-05-11 19:45 | Report Abuse

So, don't sailang everything into Insas. Don't be like Leno.

Posted by TheContrarian > 2024-05-12 00:32 | Report Abuse

On 22 January this year Insas closed at its highest at 1.29, MPHBCap closed at 1.05. On 10 May Insas closed at 1.04, MPHBCap closed at 1.25. See the contrast. One went downhill the other went up.

Posted by BLee > 2024-05-12 09:55 | Report Abuse

“TheContrarian > After crossing 50%, Thong and PAC will collectively hold around 448 million shares in the enlarged share capital of Insas of 893 million. Insas can then pay out a dividend of 35 sen and Thong and PAC will receive around RM157 million, just nice to pay off the funding.”

Wishful thinking. 算盘不是这样打
的 (abacus not count this way).
Funding needs collateral, most likely using the Insas shares as collateral. When Dividend goes ex, Insas shares price will drop by 35 sen. There will be forced-sell if funds are not available to cover the difference, before actual Dividend payment. This will also affect shares under margin account, if any..
Just for argument sake, no offense intended.

Posted by Sslee > 2024-05-12 11:52 | Report Abuse

Insas credit and leasing welcome anyone to borrow million or billion as long as you are qualified and even for a hostile takeover of Insas.
Nothing personal it is just business.

Posted by TheContrarian > 2024-05-12 13:20 | Report Abuse

The 35 sen dividend of RM157 million will be earmarked to pay off the funding of RM157 million fully settling the funding, what force selling?

Posted by TheContrarian > 2024-05-12 13:26 | Report Abuse

@Mr Sslee, I think under Law subsidiary of Insas can't finance purchase of shares in Insas, the holding company.

Posted by TheContrarian > 2024-05-12 13:32 | Report Abuse

Anyway, Insas now very cheap, only 30 sen for a ringgit. Buy now and your 30 sen will turn into a ringgit, hahaha.

Posted by Sslee > 2024-05-12 13:43 | Report Abuse

Tech hardware companies in Malaysia with exposure to Data Center
Inari
Vitrox
Frontken
Sam
Nationgate
UWC
EG

If Inari doing well then Insas will also do well

Posted by Sslee > 2024-05-12 13:46 | Report Abuse

By the way many qualified borrowers of Insas Credit and leasing actually pledged Insas associate companies shares for multi-million loans.

Posted by BLee > 2024-05-12 14:08 | Report Abuse

"TheContrarian > The 35 sen dividend of RM157 million will be earmarked to pay off the funding of RM157 million fully settling the funding, what force selling?"

Dividend payment from ex-date usually 3 weeks to months to be deposited into accounts. Settling of margin usually by 4pm the next market day, or will be forced-sell before the trading day ends. Any collateral by shares also will be monetised within a few days...the payment by Dividend can be taken as not feasible due to timing, IMHO.

Posted by TheContrarian > 2024-05-12 14:16 | Report Abuse

You don't understand lah.

Posted by TheContrarian > 2024-05-12 14:18 | Report Abuse

@MrSslee, Insas Credit and Leasing can finance Insas associate companies but not Insas which is its holding company.

Posted by TheContrarian > 2024-05-12 14:24 | Report Abuse

Thong's last chance to cross 50% shareholding at only 90 sen per shares is to exercise his warrants and additional warrants he can collect and he has until February 2026 to do so. There's not going to be another RPS with generous warrants again as there's no justification for Insas to raise funds again.

Posted by TheContrarian > 2024-05-12 14:26 | Report Abuse

This is why you can buy Insas at 30 sen for a ringgit because your 30 sen will never become a ringgit.

Posted by TheContrarian > 2024-05-12 14:29 | Report Abuse

The massive warrants in the market is a hindrance for Insas share price to go up and the massive warrants benefit only Thong.

Posted by TheContrarian > 2024-05-12 14:37 | Report Abuse

Why is Thong not a director of Insas? A director would need to disclose any purchase or sale of shares or warrants. A substantial shareholder only needs to disclose any purchase or sale of shares but not warrants.

Posted by TheContrarian > 2024-05-12 14:39 | Report Abuse

Thong has planned very well to cross 50% shareholding by February 2026.

Posted by BLee > 2024-05-12 15:49 | Report Abuse

“TheContrarian > You don't understand lah.”

Yes, might not understand; but knows that $ doesn't grow on trees, even from so-called $ tree. $ for Dividend can only be taken from Insas reserved fund of 61,474k and profit, if actually that is available (page 4 of IB Q224.pdf). 235,328k of Insas $ deposit is actually pledge securities (page 7 of IB Q224.pdf). If any $ available, better pay off loan of 234,331k (page 10 of IB Q224.pdf) and RPS redemption in the year 2026.
I don't think Insas can afford to pay out hefty dividends and not affect the business of lending out $...therefore just wishful thinking using Dividend as a source of funding and not taking consideration in reduction of $ within Insas finances..affordability.

Posted by TheContrarian > 2024-05-12 16:07 | Report Abuse

OMG, Insas can't afford to pay dividend. 😂

Posted by TheContrarian > 2024-05-12 16:21 | Report Abuse

Some people thinks like how Leno thinks holder of each warrant automatically become holder of one share. To exercise warrants you need to pay 90 sen into Insas. Insas will receive RM207 million from the exercise of 230 million warrants by Thong. Insas still no money to pay dividend?

Posted by xiaoeh > 2024-05-12 16:29 | Report Abuse

can we do warrants conversion to mother share any time before expiry date TheContarian?

Posted by BLee > 2024-05-12 16:36 | Report Abuse

“TheContrarian > OMG, Insas can't afford to pay dividend.”

Yes, not many companies can pay a Dividend Yield of suggested 35% i.e. 35 sen over a Ringgit. What is the impact of 35 sen reduction of Insas share price? Will it take another 10 years to reach a Ringgit again? What happens to those Margin accounts which are pledged at a Ringgit? Only capital repayment can afford 35%. I don't see Insas will do Capital Repayment, IMHO. Insas can most afford another 1 sen extra as what has been paid now, after an increment of an extra 0.5 sen recently, many thanks to Sslee..

Posted by TheContrarian > 2024-05-12 16:48 | Report Abuse

@xiaoeh, yes anytime until expiry in February 2026.

Posted by BLee > 2024-05-12 17:02 | Report Abuse

“TheContrarian > …To exercise warrants you need to pay 90 sen into Insas…”

Some people think just paying 90 sen will get 1 Insas Mother share, forgetting the cost of 1 Insas Warrant? To get the free Warrant, you need to subscribe to the RPS paying a Ringgit. Why do many Warrants just expire without being converted? In the case of Insas‐WC, theoretically Insas-WC in $ when Mother share reach RM0.9 and free cost at RM1.80 i.e. RM0.9 plus conversion cost of another RM0.90. Therefore Leno is partially correct if Insas reach RM1.80..I will not be laughing at Leno if it do reach RM1.80..hehe

Posted by xiaoeh > 2024-05-12 17:10 | Report Abuse

Posted by TheContrarian > 14 minutes ago | Report Abuse
@xiaoeh, yes anytime until expiry in February 2026.

noted and thanks TheContrarian
no wonder last time
there was one syndicate ((forgot which penny stock) issued warrant price far far lower than mother share
and they bought substantial amount of warrants and converted it to mother share to make profit
case closed and no punishment....

Posted by BLee > 2024-05-12 17:32 | Report Abuse

“TheContrarian > ….Insas will receive RM207 million from the exercise of 230 million warrants by Thong. Insas still no money to pay dividend?...”

Some people don't understand if paying 90 sen converting Insas-WC pre Dividend of RM1 will get post Dividend of 35 sen; will end up Insas trading price of RM1 minus 35 sen; i.e. only 65 sen..$ only from left pocket to right pocket. I am in doubt can the Insas-WC $ can be used for Dividend payment, got to read the TnC for RPS RI. Dividend payment also got TnC, as what I know from reserve account or extraordinary sale proceed..
Another info from my company Accountant; accumulated Profit is not necessary the company doing well and accumulated losses not necessary the company doing badly for the current year. Company can pay us bonuses irrespective with previous year accumulated losses. Just food for thought for this particular statement.