Posted by wetmarket > 2016-03-04 10:02 | Report Abuse

wangge - agree, agree..more than agree !!!

Posted by valueguru > 2016-03-04 10:59 | Report Abuse

(i) RM20 million matching grant shall be in exchange of CPS to be issued by Inari to MIDA or its nominee and the CPS is convertible into ordinary shares of Inari at any time within a period of 3 years at a conversion price to be determined. The CPS shall bear dividend at 2.0% per annum from the date of issuance until the date of conversion of the CPS; and

(ii) RM80 million matching grant shall be disbursed by MIDA to IISB within a period of 3 years and IISB shall pay dividend/interest at the rate of 2% per annum for a period of 10 years.

Net effect spread over 10 years; some more need to pay 2% dividend. I'm amaze at how people interpret things at their own advantage.

Posted by valueguru > 2016-03-04 11:08 | Report Abuse

Just to reiterate, the grant is not free money. Need to pay dividend to CPS, RM2mil for first 3 years follow by RM1.6mil for remaining 7 years. Some more can be converted to ordinary shares at a don't know what price; which means further dilution. Sounds like a grant but a low interest debt. Why not issue the CPS to shareholders?

Posted by jimmyee8 > 2016-03-04 11:10 | Report Abuse

who cares... as long as there is news, ppl will go in

Posted by Lukesharewalker > 2016-03-04 11:12 | Report Abuse

Conversion won't be cheap. 2% loan where to find.
Share to be driven up to determine conversion price

Posted by valueguru > 2016-03-04 11:14 | Report Abuse

Yup. Will go in when it hits RM2.8. Otherwise good luck to all.

Posted by Lukesharewalker > 2016-03-04 11:25 | Report Abuse

The biggest semiconductor in Malaysia now. Doubt it will drop to below 3 in the near term. Unless there a huge recession

Posted by Lukesharewalker > 2016-03-04 11:26 | Report Abuse

Maybe conversion price is RM4

Posted by Lukesharewalker > 2016-03-04 11:32 | Report Abuse

Warrant b gives a good entry in terms of future value

Posted by valueguru > 2016-03-04 11:33 | Report Abuse

High price could see Dato Thong selling again.

Posted by Lukesharewalker > 2016-03-04 13:22 | Report Abuse

Hahaha...you have miss the traim

Posted by valueguru > 2016-03-04 14:39 | Report Abuse

Nope, I sold all my warrants B at RM2.18; ex-bonus ;)

Posted by wetmarket > 2016-03-04 15:10 | Report Abuse

grants means non-repayable funds, also means free. People give me 80m and i need to pay back 2% annually for 10 years. Not a good deal?

Posted by valueguru > 2016-03-04 15:25 | Report Abuse

i almost drop off from my chair laughing .......

Posted by wetmarket > 2016-03-04 16:28 | Report Abuse

valueguru, please kindly correct my understanding. thanks

Posted by Alex Chan > 2016-03-05 09:45 | Report Abuse

Might reverse...ringgit appreciating

Posted by Jimstock > 2016-03-05 11:00 | Report Abuse

Value guru already explained .. no free lunch

Posted by Alex Chan > 2016-03-05 17:56 | Report Abuse

Ringgit exchange now 4.06

Posted by BUCKBUNNY > 2016-03-07 15:48 | Report Abuse

invest long term still good..currency exchange just a bonus..

Posted by kevin5059 > 2016-03-08 09:49 | Report Abuse

Time to buy again. Another 'huge' announcement going to be made. Stay tune!!!!!

Posted by Abuden > 2016-03-08 10:55 | Report Abuse

Ringgit exchange now 4.10...

Posted by leelc99 > 2016-03-08 21:27 | Report Abuse

KUALA LUMPUR (March 8): Inari Amertron Bhd acquired a 9.7% stake in Taipei-listed PCL Technologies Inc for NT$335 million (RM44.5 million), cash, or NT$71 per PCL share.

In addition, Inari has entered into a memorandum of understanding (MoU) with PCL with the intention to set up a joint-venture entity (JVE) in China.

Posted by Mohd Fahmi Bin Jaes > 2016-03-08 21:44 | Report Abuse

down

Posted by valueguru > 2016-03-08 22:32 | Report Abuse

Quite a strange arrangement. Inari buying from a "certain" PCL major shareholder. Maybe can find out from Taiwan SE who this is. Then form a JV whereby ATK, Inari's subsidiary, if after satisfactory due diligence conducted by PCL, will be injected into the JV. Huh? You pay for a stake in another company but due dilligence is on your subsidiary. If PCL is happy, then proceed, if not, do adjustment on the ATK stakes in the JV. Huh? Reads more like Inari getting PCL to help fix ATK. Am I reading correctly?

Posted by kevin5059 > 2016-03-09 09:27 | Report Abuse

This is my understanding.

1) Inari bought 9.7% stake (RM44.5m) in Taipei-listed PCL Technologies.

2) Both Inari and PCL Technologies will work together or JV to setup a new company in China (which planned to list in 5 years).

3) Both Inari and PCL will own 50% entity for this newly setup company in China.

4) The newly setup company initial capital is set at USD20million.

5) Inari will inject once of their subsidiary (ATK) into this newly setup company as the initial working capital.


Summary, form their financial report, it seem that PCL Technologies was progressively making good profit (just like Inari few years back). So now Inari own 9.7% of this company, if this company making greater profit in the future, it going to beneficial inari's shareholders.

On the other hand, The ATK (Inari's subsidiary) will be now injected into the newly setup company in China and this newly setup company will be 50% own by Inari. Meaning, last time Inari own 100% ATK, but now owe 50% of this new company. In short, if this newly company making good profit, then Inari shareholders should be happy. If this newly setup company making lose, then it will impact Inari performance. However, from my point of view, this newly setup company going to contribute more profit yet open up more China, taiwan and Japan Market for Inari.

In short, it is a good news for all inarian. Happy investing.

Posted by valueguru > 2016-03-09 09:39 | Report Abuse

It's not a definite deal, only MOU but Inari already purchased 9.7% stake at a not so high premium. If PCL is good growth, major shareholder will ask for a high premium right? With this stake, PCL cannot be considered as an associate nor consolidated; just an investment. And on the MOU, please read, PCL can still walk away and leave Inari with just the 9.7% holding. So question, who has the upperhand in this transaction, Inari or PCL?

Posted by valueguru > 2016-03-09 09:58 | Report Abuse

So my guess on how this transaction came about .... note it's only a guess and yes I can be wrong but no harm having a bit of imagination right? Inari approached PCL on ATK (to help work on it?). PCL okayed but to show sincerity, Inari need to invest in PCL first and also conditional upon the latter is happy with ATK. If not, PCL can still walk away ..... Take this with a pinch of salt :)

Posted by wetmarket > 2016-03-09 10:36 | Report Abuse

Valueguru - could you please help to explain - Is the RM80m matching grant needs to repay back to MIDA besides the dividend/interest? Thanks.

Posted by 沧海桑田 > 2016-03-09 15:20 | Report Abuse

a grant is something give n for free...no nd 2 pay back nor interest

Posted by ImCK > 2016-03-09 15:22 | Report Abuse

connect will be another inari soon

Posted by kevin5059 > 2016-03-09 15:30 | Report Abuse

valueguru, small correction. It was PCL came and approached Inari but not the other way. So who has the upperhand ?? you guess. Haha.

Posted by kevin5059 > 2016-03-09 15:33 | Report Abuse

Wetmarket, inari do not need to pay back the 80m. It is a grant. But need to pay 2% dividend for the next 10 years. That's my understanding. Worst case, even it is a loan, 2% interest is considered very cheap.

Posted by derektan > 2016-03-09 15:39 | Report Abuse

Inari & PCL are both suppliers to Broadcom's (fka AVAGO) fibre-optics business which was subsequently sold to Foxconn. They were most probably matched by Avago. Since they are both complimentary, it should be positive for both. The fact that they are looking at listing in 5 years means it won't be draining Inari's coffers in their expansion drive.

wetmarket - Grant is a 'gift' or financial assistance for your contribution/development to the industry. So by that definition, other than the interest/dividend and the preference shares, Inari doesn't need to repay the principle.

Posted by wetmarket > 2016-03-09 15:44 | Report Abuse

Thanks all for the explanations.

I am just trying to get the clarification & learn because valueguru almost fall from the chair the other day.

Posted by wondersky > 2016-03-09 16:27 | Report Abuse

Foreign fund starts to acquire INARI share again..

Posted by Xiao Mi > 2016-03-09 17:00 | Report Abuse

Inari ex date 11 March, if sell on 11 March still entitle for dividend?

Posted by kevin5059 > 2016-03-09 17:04 | Report Abuse

Xiao Mi, Yes. But the share price will be readjusted accordingly to the dividend.

Posted by Xiao Mi > 2016-03-09 17:31 | Report Abuse

kevin.. do u mean it will be higher or lower right?

Posted by dextronium > 2016-03-09 18:31 | Report Abuse

lower to start off with first. subsequently price depends on market force.

Posted by Budapest > 2016-03-12 04:43 | Report Abuse

Dato'Thong has been disposing since January,what's wrong with him?

Posted by Mohd Fahmi Bin Jaes > 2016-03-12 06:34 | Report Abuse

he also want to take profit

Posted by millionology > 2016-03-14 10:37 | Report Abuse

Dato Thong disposed warrant. he has been doing this since Inari-WA is launched. now he does the same for WB

Posted by Xiao Mi > 2016-03-15 13:45 | Report Abuse

Continue to drop..

Posted by BountyHunter > 2016-03-16 12:11 | Report Abuse

When come back Inari ?

Posted by wetmarket > 2016-03-16 16:16 | Report Abuse

share price and forum is equally boring :p

Posted by legolandinjohor > 2016-03-16 17:16 | Report Abuse

Somebody starting collect at the end of closing time

Posted by dextronium > 2016-03-17 08:34 | Report Abuse

Dear all
I have searched through the bursa website and cant see any link to download the Inari-WA Exercise Form. Can anybody enlighten me on this? Thanks in advance for any input and apologize for my ignorance.

Posted by wetmarket > 2016-03-17 10:16 | Report Abuse

dextronium - best to check with your broker.

Posted by dextronium > 2016-03-17 10:41 | Report Abuse

thanks for input Mr Wetmarket

Posted by Mohd Fahmi Bin Jaes > 2016-03-18 10:42 | Report Abuse

inari suda mari