Posted by Tatooine > 2024-05-21 21:43 | Report Abuse

Omesti dumping microlink to raise desperately needed cash to survive. Thong long time board member just like he was Hoh up. Another complete disaster by him…Insas board look so bad for blindly doing what ever thong says. Can’t wait for this years agm answers

Posted by Income > 2024-05-22 15:50 | Report Abuse

Happy Wesak Day

Posted by xiaoeh > 2024-05-22 15:53 | Report Abuse

check how big we human are...
https://www.youtube.com/watch?v=U9WOMerccoM

Posted by WellnessAntiCancer > 2024-05-22 18:03 | Report Abuse

Good holiday to spend time with love ones.

I admire Icapitalbiz under CEO Tan Teng Boo management. Analysed the fund on 18 Biggest stocks valuation with Kellington Bhd being top holding at RM72.37million with average purchase price at Rm2.55/share vs current price 3.03 or 18% gain.

Interestingly, only 3 stocks are performing well namely SAM Bhd, Kellington and United Plantations recorded gains of 11%, 18% and 30% respectively . In other words 15 other stocks analysed are at loss or just breakeven.

Shareholders in ICAPBIZ are paying management 1.5% + admin expenses + marketing + roadshows expenses to have this performance.

Now, if I benchmark against Insas Bhd , I get quite different results.

Posted by WellnessAntiCancer > 2024-05-22 18:12 | Report Abuse

Insas has portfolio holdings.

The elephant in the room is Inari Amertron which at BOOK VALUE is about RM550million. Yet Inari is now at market value RM1,770 million which is 322% higher than its current BOOK VALUE. Yet, there is ZERO Management fee. How about that? Thong interests is aligned with minority shareholders where he stands to gain from share price appreciation.

This far exceeds the ICAP Biz performance with management Fee at 1.5% on Asset Under management (AUM).

Don’t underestimate the power of compounding is severely inhibited by costly fees. In USA, the Index link fund charges 0.3% AUM, 80% cheaper than ICAP.

Well, justified for investors as they see ICAP Management as talented and can beat the market.

If that is so, what about Insas, which has unrealised gain in Inari >RM1,160 MILLION (RM1710-RM550m) ? Repeat - NO INVESTMENT FEE.

Posted by WellnessAntiCancer > 2024-05-22 18:15 | Report Abuse

As at Feb 2024, the NTA is at RM3.83 vs Share price at RM3.30 which is 13% discount to NTA.

But we mark to market the way ICAP Biz is “likely” to value their
FEB 2024 :
NTA 3.83
CURRENT SHARE RM3.30
Trading at 14% discount

Insas
NTA 3.57
CURRENT SHARE RM1.08
Trading at 70% discount !!

Now you prefer buying asset at 70% discount or 14% discount?

That is not all.

Posted by WellnessAntiCancer > 2024-05-22 18:29 | Report Abuse

the comparison is unfair.

ICAP gets to boast that its NTA is at RM3.83 which is MARKED TO MARKET

Meaning its Top 30 shareholdings get to be VALUED at MARKET SHARE PRICES as at 28 FEB 2024!!

Insas Bhd is not a Closed end fund but FUNDAMENTALLY it is a collection of business much like ICAP. If Insas get to do the same MARK TO MARKET at 31 DEC 2023, it valuation will be north of RM5.38.

Restate:
ICAP
NTA 3.83 MARKED TO MARKET price at Feb 2024.
Share price RM3.30 (22 May, 2024)
Trading at 14% discount

Insas
NTA 5.38 MARKED TO MARKET
CURRENT PRICE RM1.08
Trading at 80% discount!!

Assumptions:

I value Insas collection of businesses at current market prices like Inari at 3.22, M&A 0.38 and others. I have to admit there could omission of other stocks I didn’t review under Insas.

Disclaimer: Please do your own research before investing as my opinion are well, opinion.

Disclosure: Owns both Insas and Insas WC and may continue to accumulate on share retreat.

Posted by WellnessAntiCancer > 2024-05-22 18:34 | Report Abuse

Insas is Berkshire Of Malaysia.

I wait to collect more and I did past 4 weeks.

Buy wonderful businesses at reasonable price.

Don’t Buy reasonable businesses at wonderful price. - Warren (2008).

This is by far the most undervalued stocks seen.

If you compare parent companies valuation, you don’t see such steep discount. Check it out

Sunway Holdings Bhd
OSK Holdings (arguably still cheap)
FIMA Corp Bhd.
YTL owns YTL Power.

The parent price have positive correlation with the subsidiaries share movements.

Have good holiday and time with family and friends.

That is my new information for us all here. I want to Prosper Thy Neighbours. All of us profits and laugh all the way to the Bank.

Posted by WellnessAntiCancer > 2024-05-22 18:36 | Report Abuse

Yet when Inari shot up from RM1.00 to RM3.22 price a fantastic 222% rise, Insas went up a mere 20% from 90sen to RM1.08.

Mr Market can be irrational, but not for long.

Posted by WellnessAntiCancer > 2024-05-22 18:43 | Report Abuse

Contrast with OSK where the share price rose from RM1.00 to RM1.68, a 68% rise this year. Its major investment is 10% of RHB which rose from 5.29 to 5.49, a mere 4% increase.

Arguably OSK still have value.

But stated the case, Parent OSK went up MUCH MORE than Investment holding RHB

Why should Insas be different? Deep value play.

I hope all the well informed investors research and confirm what we said in this forum and please PROFIT FROM IT, for crying out loud.

Disclaimer: this is not a buy / sell signal for all must do own research . Caveat Emptor as I saw another contributor said.

Posted by Income > 2024-05-22 18:59 | Report Abuse

I think HEALTH is the Most Valuable Asset. The second most valuable assets are Money.
Take care of your health first before you take care of your money.
Why? Because you see …Icon888 already disappeared after 2020 C struck. Icon888 was a very wealthy and knowledgeable person… who wrote many articles in i3.

Posted by Income > 2024-05-22 19:04 | Report Abuse

And also you can’t bring your money to the next world 🌍…
Donate a bit to charity organisations

Posted by Income > 2024-05-22 19:15 | Report Abuse

Please don’t donate to political campaigns. It’s useless to do that…

Posted by WellnessAntiCancer > 2024-05-22 19:19 | Report Abuse

Messrs Income

Wise advise. Health is my core interests now. I had cancer last 2017. Without Chemo/Radiotherapies or surgery, I had full cancer regression. How I did it ?- I saw group PhD scientists with >40years found and patented EGCG technology that powers up the White Blood cells to Seek and Destroy Cancer cells - without harming normal cells. Think of it as Guided Missiles destroy enemies.

Best part, I wasn’t the only one cancer survivor. There are whole lot of us, some of us are at very serious Stage 4 cancer (Final) from here, Singapore, Taiwan, UK, USA and Canada to name a few.

If some do chemo or targeted missile therapies or immunotherapies (new) , must be forewarned about United States government official website.

Search Google: Chemo failure rate
Select : NIH website which is United States Government official website National Institute of Health (NIH)

You will be shocked as it states 1,000 cancer patients under the threaments, 950 or 95% failure rate meaning the cancer returns with vengeance.

That is why I opted the EGCG technology.

You are right Messrs Income - Take of health as it is wealth.

Posted by Income > 2024-05-22 19:19 | Report Abuse

I know a lot of you here are very wealthy or rich. I am just a B40 learning lnvesting from all taukeh here. Please give good investment advice to me so that I can help the poor B40 people, after I get rich…

Posted by WellnessAntiCancer > 2024-05-22 19:22 | Report Abuse

Now the question is: Is Insas suffering from Corporate Cancer? Eg Weak Corporate Governance.

If so, please share your thoughts backed with facts.

Just like Cancer patients must do MRI or/and PET scan to see the cancer regression, if they are not so fortunate, it will spread using Chemo alone.

Posted by WellnessAntiCancer > 2024-05-22 19:27 | Report Abuse

Messrs Income, we try and guess what. we all were very poor. My dad is simple newspaper vendor on Honda cub 70CC. but he taught me well. saying " Inside book got gold. “

you will improve too if you invest in your investment knowledge. Start with Peter Lynch, One Up on Market.

That book still helps me which is why I arrive at Insas.

It is not your fault if parents are poor. But your fault if we aged and still poor. (Bill Gates)

You can do it Messrs Income!

Posted by WellnessAntiCancer > 2024-05-22 19:29 | Report Abuse

INsas has very respectable management. Thong is a strategist. Just like in battle, A General must be clear with his troops but unpredictable to enemies.

This is master Strategist.

I must admit at moment Thong is a ‘poor’ billionaire. his hardwork is not reflected in share price.

But hey, why worry?

Posted by WellnessAntiCancer > 2024-05-22 19:29 | Report Abuse

Short term, stock market is voting machine
Long term, stock market is weighing machine. (Warren Buffett)

Posted by Income > 2024-05-22 19:30 | Report Abuse

WellnessAntiCancer Sifu, thank you for your very valuable advice.
I will definitely read Peter Lynch, One Up on Market.

Posted by EngineeringProfit > 2024-05-22 19:40 | Report Abuse

Also read this book: Stock Market- The Main Source of Stress, Cancer & Heart Attack
(By Engfit)

Posted by TheContrarian > 2024-05-22 20:34 | Report Abuse

Damn, I sold Insas at 1.11 recently.

Posted by hsong > 2024-05-22 21:17 | Report Abuse

Insas is like i capital years back under valued. Now price has gone up so much. In a bull market Insas should be worth much more than now with its listed shares skyrocketing

Posted by xiaoeh > 2024-05-22 21:20 | Report Abuse

i'm still at my dock no. 0.865.........
waiting.........

Posted by EngineeringProfit > 2024-05-22 22:37 | Report Abuse

Inflation kah?

Posted by hsong > 1 hour ago | Report Abuse

Insas is like i capital years back under valued. Now price has gone up so much. In a bull market Insas should be worth much more than now with its listed shares skyrocketing

Posted by TheContrarian > 2024-05-22 22:48 | Report Abuse

If you buy Insas tomorrow at 1.08 and later sell at 5.40 you will make a gain of 4.32, a four fold gain.

Posted by TheContrarian > 2024-05-22 22:49 | Report Abuse

Believe me, it's possible to make a four fold gain on Insas.

Posted by xiaoeh > 2024-05-22 23:33 | Report Abuse

Posted by TheContrarian > 41 minutes ago | Report Abuse
Believe me, it's possible to make a four fold gain on Insas.

i believe in u TheContrarian....

Posted by Income > 2024-05-23 08:16 | Report Abuse

Believe me, it will fall below 80.5 sen and Thong will scoop up from the market.

Posted by Income > 2024-05-23 08:20 | Report Abuse

Those bought at 80.5 sen and above don’t cry 😭 later.
Advertising post on this forum since last week 13 May 2024.
Don’t get angry because I already told you the future… 😸

Posted by xiaoeh > 2024-05-23 09:20 | Report Abuse

Posted by Income > 1 hour ago | Report Abuse
Believe me, it will fall below 80.5 sen and Thong will scoop up from the market.

i believe in u either Income sifu....

Posted by TheContrarian > 2024-05-23 10:35 | Report Abuse

KLSE sentiment so good, very hard for Insas to drop to 80.5 sen.

Posted by ttt > 2024-05-23 17:23 | Report Abuse

Has any research house perform a Sum of Parts valuation on Insas before ?

Posted by probability > 2024-05-23 19:20 | Report Abuse

OMG results so bad....will it drop heavily tomorrow?

Posted by TheContrarian > 2024-05-23 19:30 | Report Abuse

Insas sum of parts 1+1+1+1 = 1

Posted by Tatooine > 2024-05-23 19:34 | Report Abuse

Terrible results! Where all these costs come from is the question !!

Posted by Tatooine > 2024-05-23 19:35 | Report Abuse

And this includes profit from share sale with no costs attributes which makes it even more suspicious

Posted by TheContrarian > 2024-05-23 19:50 | Report Abuse

Don't panic, Insas still has RM1,160,000,000 cash.

Posted by Tatooine > 2024-05-23 19:59 | Report Abuse

Inari results ok, giving another dividend… insas nothing. It does not matter how much cash in bank , this is about how the company is run which is badly

Posted by TheContrarian > 2024-05-23 20:10 | Report Abuse

Inari has policy to pay out dividend every quarter.

Posted by SinGor > 2024-05-23 20:21 | Report Abuse

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3449453
______________

Why rename Risk management after Results Out??? Should rename Tong as Ding, Ding Tong, Tong

Posted by xiaoeh > 2024-05-23 20:39 | Report Abuse

very soon can on board already...?

Posted by Tatooine > 2024-05-23 20:57 | Report Abuse

Insas board of not controlled by thong should also payout dividend ! Costs so high as top management paid a lot of money to keep quiet and do as they are told …

Posted by TheContrarian > 2024-05-23 21:34 | Report Abuse

Tomorrow remember to buy Insas. Insas is selling at 80% discount. Can make 4 fold gain.

Posted by Why_ > 2024-05-23 22:12 | Report Abuse

If Insas so good Thong not buying more?

Posted by Tatooine > 2024-05-23 22:13 | Report Abuse

Thong and friends draining cash from insas, no need to buy company when you can use shareholder cash however you want.

Posted by Tatooine > 2024-05-23 23:21 | Report Abuse

Even M&A listing was a con, syf shareholders were well rewarded with a special dividend, Insas shareholders as usual nothing. Dato Chee a good friend of Thongs was a substantial shareholder and made a lot of money … again I am sure thong also got rewarded. Then Chee appear at inari but then quickly stepped down, then at Ho hip, since 2021 on microlink board… Thong and friends get rich insas shareholders don’t !!!

Posted by Tatooine > 2024-05-24 02:15 | Report Abuse

Just read the detailed financial report, another investment disaster , terrible performance and losses bailed out by a dividend …. I suggest you read it, it really highlights how bad the company is performing. It would be more profitable if I was closed everything and got rid of all staff and over paid management . Sell the long list of low return assets and close under performing companies. The board should be ashamed of there performance

Posted by Sslee > 2024-05-24 07:56 | Report Abuse

If Thong buy from open market and trigger 33% MGO then the whole world will know 1+1+1+1 = 4

TheContrarian Insas sum of parts 1+1+1+1 = 1
23/05/2024 7:30 PM

Posted by Sslee > 2024-05-24 08:25 | Report Abuse

Insas holding in Omesti
Omesti: 53,859,500
Omesti rps: 11,234,800
Omesti warrant: 26,214,532

And many pledged shares from VVIP
M & A Nominee (Tempatan) Sdn Bhd
Insas Credit & Leasing Sdn Bhd for H2O Holdings Sdn Bhd: 66,273,700

If you look into these shares price at beginning of year and quarter end 31/3/2024 then you should know why bad quarter for Insas.