If Gov't wants a replacement, I think it is only possible if the government invites qualified companies to bid for the design and testing of a new e-government service platform with clear specs and terms at least two years ahead of the end of the current service contract. This has not been done.

Has any of MYEG potential competitors developed an alternative e-government service platform to replace myEG. This would require ten's of millions and at least 1 year or more time to develop, followed by extensive testing by users, etc, to make sure that it is a viable and better replacement system. Any competitor who wants to invest in it must also be prepared to write-off the huge development costs if they cannot win the contract. Which company is able and willing to do that ?

If the answer to the above is very unlikely, then MYEG still would be getting the contract extension. What the Gov't could do is to negotiate for better terms, like improvement aspects, and perhaps lower charges.
Another important point is government sort of "owe" MYEG a big favour. MYEG did not ask the government for compensation of the development costs for the GST system , for which MYEG had to write off RM160 million of GST development costs in Q3 2018 . Just think about this.

REVENUE already hired more IT professionals for business expansion ahead of the special Bumi shares issue in Q2 2020.

akupolitikkk" warrant not entitle bonus issue. SELL"

If there is Bonus, Warrant will always be entitled for Bonus. Further more, the warrant conversion price will also be revised downwards accordingly.

Example: Mother: 1 to 1 Bonus. Warrant will automatically have 1 to 1 Bonus. The Warrant exercise price to mother will be adjusted down to half the original exercise price due to increase in number of mother shares due to Bonus issue.

If owner of a company owes a lot of money (they use share as collateral), it might be necessary for them to support share price. There is no evidence thisis the case for MYEG.

Don't think boss need to support share price. Reason is we saw share price dive from RM2.5 to RM0.7 in mid 2018 and recently in March, share price went down to RM0.8. Boss is not in trouble even when share price is at RM0.7. We actually see in the last two years very active share buy back at around RM1.1- RM1.2 range.

The other major plus side is once the Company is listed on the Main Board, Fund managers would more likely invest in the Co. Currently, I don't think EPF and other major funds can invest in REVENUE even it is a good growth company as there are guidelines that restrict them from investing in non main Board companies. So it is very likely that REVENUE could become a target for investment by some big fund managers. The impact on the share price, in my view, is therefore very positive.

ch0805 " Can anyone explain to me what will happen after Revenue give special issues ordinary shares to bumiputera ?"
REVENUE is planning to be listed in the Main Board. In the case of a transfer of listing, the Company is required to comply with the 12.5% Bumiputera equity requirement at the point of transfer. Let's say Bumiputra currently holds only 2.5% shares in REVENUE, REVENUE would have to place out additional new shares to Bumiputras such that they jointly own at least 12.5% share. The additional new bumi shares, BNEW can be calculated from
( BNOW+BNEW ) / (389+BNEW) = 12.5%
BNEW = 1.143x(48.63 – BNOW)
For Example, if BNOW is 20m (about 5.1%), BNEW to be issued would be 32.7m. The enlarge shares would be 389m + 32.7m = 421.7m (CASE 1)
If BNOW is only 10m (about 2.6%), BNEW would be 44.2m. The enlarged shares would be 389m+44.3m = 433.2m (CASE 2).
It can be concluded that the increase in additional shares (share dilution) is quite small in either case.
On the positive side, additional new bumi shares would bring in additional share capital in the form of cash injection into the Company. Assuming that the new Bumi shares are issued at a typical 10% discount to current market price, RM1.18x(100%-10%)=RM1.06, Case 1 would add RM21m cash whilst Case 2 would add RM46.9m cash to REVENUE. Base on Q2 2020 report as at 31 Dec 2020, REVENUE had net cash of about 30m. The net cash as total working capital would increase very substantially to RM51 m in Case 1 and RM76.9m in Case 2. This should strengthened REVENUE for faster expansion and bigger business undertaking looking forward. The net cash per share in Case 1 would be 51m/422m = 0.12 cent/share and in Case 2, RM77m/433m = RM0.18 per share.

MYEG CEO acquired almost 4 million MYEG shares non 27May2020. I think he must have confidence in securing extension of Gov't contract beyond June 2020.

=((27.5*1000)/15)*15%*(1-25%)/X25
If the sand project can be executed smoothly and assuming a reasonable PBT margin of 15%, the net profit per annum would be about 200m for 15 years.
This would amount to EPS of about RM0.04. At the current share price of RM0.16, the prospective PE is about 4 (RM0.16/RM0.04 = 4 ) which seems to be very attractive.

Latest Q2 2020 report ending 31.12.2020, AGES total current assets 240m, total debts & liabilities RM88m (short term RM82m, LT RM6m). Assume that all ST and LT debts and liabilities are paid of, the remaining net current asset is about RM152m.
If AGES can raise another RM550m from the PA holders through conversion to mother shares, the net current asset nearly all in cash would be about RM702m. The enlarged ordinary shares would be about 5251m (640m existing shares + from (3861+750) PA conversion). The average net cash per ordinary share based on the enlarged ordinary shares would be RM0.1337 (RM702m divided by enlarged shares of 5251m) .
Above calculation excludes the non current assets of RM72m reported in Q2 2020 report.

In the scenario when all the PA are converted, AGES would successfully raise an additional RM550m of share capital from the PA conversion at 12 cents + 1 PA (issued at 1 cent). This would be essential for AGES to undertake very large projects.

In the scenario when all the PA are converted, AGES would successfully raise an additional RM550m of share capital from the PA conversion at 12 cents + 1 PA (issued at 1 cent). This would be essential for AGES to undertake very large projects.

In conversion to mother share, 1 PA is treated as 1 cent ( the issuing price) . So conversion is 1 PA + 19 cents.

1 2020 results just announced. Good results. This is the eighth continuous quarterly results with improving quarterly revenues and net profits over the last 2-years since it goes into technology IT businesses in ERP and IOT's.

https://www.malaysiastock.biz/Corporate-Infomation.aspx?securityCode=7....
21/05/2020 2:48 PM

Q1 2020 results just announced. Good results. This is the eighth continuous quarterly results with improving revenues and net profits.

https://www.malaysiastock.biz/Corporate-Infomation.aspx?securityCode=7181.

The ICPS can be converted into new Ageson Shares at the conversion price of RM0.13 ("Conversion Price") in the following manner: i. by surrendering 13 ICPS to be converted into 1 new Ageson Share; or ii. a combination of such number of ICPS and cash with an aggregate value equal to the Conversion Price, subject to a minimum of 1 ICPS surrendered, and paying the difference between the aggregate value of the ICPS surrendered and the Conversion Price in cash for 1 new Ageson Share. Premised on the terms of the ICPS, the ICPS can be converted into new Ageson Shares at any time within 10 years commencing on and including the date of issue of the ICPS up to and including the maturity date (as indicated above), as determined by the conversion ratio and Conversion Price. Any remaining ICPS that are not converted by the maturity date shall be automatically converted into new Ageson Shares at the conversion ratio of 13 ICPS for 1 new Ageson Share. If the conversion results in a fractional entitlement to Ageson Shares, such fractional entitlement shall be disregarded and no refund or credit, whether in the form of the ICPS, cash or otherwise, shall be given in respect of the disregarded fractional entitlement. If the maturity date of the ICPS falls on a non-market day, then it will fall on the preceding market day. This announcement is dated 18 March 2020.
19/05/2020 3:07 PM

Remarks :
The ICPS can be converted into new Ageson Shares at the conversion price of RM0.13 ("Conversion Price") in the following manner: i. by surrendering 13 ICPS to be converted into 1 new Ageson Share; or ii. a combination of such number of ICPS and cash with an aggregate value equal to the Conversion Price, subject to a minimum of 1 ICPS surrendered, and paying the difference between the aggregate value of the ICPS surrendered and the Conversion Price in cash for 1 new Ageson Share. Premised on the terms of the ICPS, the ICPS can be converted into new Ageson Shares at any time within 10 years commencing on and including the date of issue of the ICPS up to and including the maturity date (as indicated above), as determined by the conversion ratio and Conversion Price. Any remaining ICPS that are not converted by the maturity date shall be automatically converted into new Ageson Shares at the conversion ratio of 13 ICPS for 1 new Ageson Share. If the conversion results in a fractional entitlement to Ageson Shares, such fractional entitlement shall be disregarded and no refund or credit, whether in the form of the ICPS, cash or otherwise, shall be given in respect of the disregarded fractional entitlement. If the maturity date of the ICPS falls on a non-market day, then it will fall on the preceding market day. This announcement is dated 18 March 2020.

https://www.klsescreener.com/v2/announcements/view/3131938

AGESON BERHAD
Instrument Category Securities of PLC
Instrument Type Preference Shares
Description
i. Issuance of new irredeemable convertible preference shares in Ageson Berhad (formerly known as Prinsiptek Corporation Berhad) ("Ageson") ("ICPS") to the entitled shareholders of Ageson pursuant to the renounceable rights issue of 3,860,754,392 new ICPS on the basis of 13 ICPS for every 1 existing ordinary share in Ageson held as at 5.00 p.m. on Wednesday, 19 February 2020 at an issue price of RM0.01 per ICPS; and ii. Issuance of 750,000,000 ICPS to Daya Intelek Usahasama Sdn Bhd for the acquisition by Prinsiptek Properties Sdn Bhd, a wholly-owned subsidiary company of Ageson, of a parcel of development land measuring 7,395 square metres identified as Lot No. PT 129 held under Title No. H.S.(D) 18991, Section 1, Town of Batu Ferringi, District of Timor Laut, Pulau Pinang for a purchase consideration of RM57.00 million to be satisfied via combination of RM49.50 million in cash and RM7.50 million in issuance and allotment of 750,000,000 ICPS at an issue price of RM0.01 per ICPS
Listing Date 19 Mar 2020
Issue Date 11 Mar 2020
Issue/ Ask Price Malaysian Ringgit (MYR) 0.0100
Issue Size Indicator Unit
Issue Size in Unit 4,610,754,392
Maturity Mandatory
Maturity Date 10 Mar 2030
Revised Maturity Date
Name of Guarantor Not Applicable
Name of Trustee Not Applicable
Coupon/Profit/Interest/Payment Rate Not Applicable
Coupon/Profit/Interest/Payment Frequency Not Applicable
Redemption Not Applicable
Exercise/Conversion Period 10.00 Year(s)
Revised Exercise/Conversion Period Not Applicable
Exercise/Strike/Conversion Price Malaysian Ringgit (MYR) 0.1300
Revised Exercise/Strike/Conversion Price Not Applicable
Exercise/Conversion Ratio 13:1
Revised Exercise/Conversion Ratio Not Applicable
Mode of satisfaction of Exercise/ Conversion price Tendering of securities
Settlement Type/ Convertible into Physical (Shares)

Conversion is 1 PA + 12 Cents.
Each PA is treated as 1 cent by AGES in the conversion to mother share.
One can convert 13 PA for 1 mother share but of course no one would do that.

Conversion from PA to ARBB is tender 1 PA + 19 cents.

Hii, jimmyho68
Theoretically ARBB-PA is worth RM0.15 when the mother share ARBB is trading at RM0.34.
PA price = RM0.34 - conversion price = RM0.34- RM0.19 = RM0.15.

Why isn't the price of ARBB-PA moving up to narrow the gap ya?
When it is in trading in the money means that mother share value is already higher then the exercise price (RM0.19).
Market typically will discount the mother value by some percentage when it is trading in money. Don't ask me why, but this is just the way it is. I can understand that there is a lag time of may be 1 to 2 weeks in converting to the mother share and therefore by the time you convert to the mother share, the market price of the mother share might have dropped by the time conversion is done.
However, in the case of ARBB, if the business is going to become better and better, the mother share price will trend upwards in the medium to long term. So there is little risk keep go up, so there is less risk of owing the PA as it will become more and more valuable with time.

Hope above explains.

ARBB-PA is trading at a discount to ARBB mother share price.
Theoretically ARBB-PA is worth RM0.15 when the mother share ARBB is trading at RM0.34.

PA price = RM0.34 - conversion price = RM0.34- RM0.19 = RM0.15.

Conversion from ARBB-PA to ARBB is 1 PA+19 cents.

Per announcement dated 13 April, ARBB is now listed under the Technology Sector.

https://www.klsescreener.com/v2/announcements/view/3143421


"Kindly be advised that ARBB’s securities will be reclassified under the new sector and sub-sector with effect from 9.00 a.m., Monday, 13 April 2020.

Current Sector: Industrial Products & Services
New Sector: Technology

The Stock Number and Stock Short Name of ARBB remain unchanged.
Announcement Info
Company Name ARB BERHAD
Stock Name ARBB
Date Announced 08 Apr 2020
Category Listing Circular
Reference Number ILC-08042020-00002"

There are many listed cos with controlling shareholders owning shares exceeding 33% in Bursa Malaysia. and their directors continue to buy in co shares when they see undervalue in shares.
Wonder why there are so much non stop assertions pertaining to 33% limit, MCO, etc on Insas ??

ex. Globetronics

Date
Type
Subject
10-Apr-2020 Insider MADAM GOOI MEI HOON (a substantial shareholder) acquired 4,000 shares on 10-Apr-2020.
10-Apr-2020 Insider MADAM GOOI MEI HOON (a substantial shareholder) acquired 4,000 shares on 09-Apr-2020.
10-Apr-2020 Insider MR NG KWENG CHONG (a substantial shareholder) acquired 4,000 shares on 10-Apr-2020.
10-Apr-2020 Insider MR NG KWENG CHONG (a substantial shareholder) acquired 4,000 shares on 09-Apr-2020.
10-Apr-2020 Insider GENERAL PRODUCE AGENCY SDN. BERHAD (a substantial shareholder) acquired 4,000 shares on 10-Apr-2020.
10-Apr-2020 Insider GENERAL PRODUCE AGENCY SDN. BERHAD (a substantial shareholder) acquired 4,000 shares on 09-Apr-2020.
10-Apr-2020 Insider NG KWENG CHONG HOLDINGS SENDIRIAN BERHAD (a substantial shareholder) acquired 4,000 shares on 10-Apr-2020.
10-Apr-2020 Insider NG KWENG CHONG HOLDINGS SENDIRIAN BERHAD (a substantial shareholder) acquired 4,000 shares on 09-Apr-2020.
10-Apr-2020 Insider MR NG KWENG CHONG (a company director) acquired 4,000 shares at 1.750 on 10-Apr-2020.
10-Apr-2020 Insider MR NG KWENG CHONG (a company director) acquired 4,000 shares at 1.730 on 09-Apr-2020.
09-Apr-2020 Insider MADAM GOOI MEI HOON (a substantial shareholder) acquired 4,000 shares on 08-Apr-2020.
09-Apr-2020 Insider MADAM GOOI MEI HOON (a substantial shareholder) acquired 4,000 shares on 07-Apr-2020.
09-Apr-2020 Insider MADAM GOOI MEI HOON (a substantial shareholder) acquired 4,000 shares on 06-Apr-2020.
09-Apr-2020 Insider NG KWENG CHONG HOLDINGS SENDIRIAN BERHAD (a substantial shareholder) acquired 4,000 shares on 08-Apr-2020.
09-Apr-2020 Insider NG KWENG CHONG HOLDINGS SENDIRIAN BERHAD (a substantial shareholder) acquired 4,000 shares on 07-Apr-2020.
09-Apr-2020 Insider NG KWENG CHONG HOLDINGS SENDIRIAN BERHAD (a substantial shareholder) acquired 4,000 shares on 06-Apr-2020.
09-Apr-2020 Insider GENERAL PRODUCE AGENCY SDN. BERHAD (a substantial shareholder) acquired 4,000 shares on 08-Apr-2020.
09-Apr-2020 Insider GENERAL PRODUCE AGENCY SDN. BERHAD (a substantial shareholder) acquired 4,000 shares on 07-Apr-2020.
09-Apr-2020 Insider GENERAL PRODUCE AGENCY SDN. BERHAD (a substantial shareholder) acquired 4,000 shares on 06-Apr-2020.
09-Apr-2020 Insider MR NG KWENG CHONG (a substantial shareholder) acquired 4,000 shares on 08-Apr-2020.
09-Apr-2020 Insider MR NG KWENG CHONG (a substantial shareholder) acquired 4,000 shares on 07-Apr-2020.
09-Apr-2020 Insider MR NG KWENG CHONG (a substantial shareholder) acquired 4,000 shares on 06-Apr-2020.
09-Apr-2020 Insider MR NG KWENG CHONG (a company director) acquired 4,000 shares at 1.750 on 08-Apr-2020.
09-Apr-2020 Insider MR NG KWENG CHONG (a company director) acquired 4,000 shares at 1.750 on 07-Apr-2020.
09-Apr-2020 Insider MR NG KWENG CHONG (a company director) acquired 4,000 shares at 1.670 on 06-Apr-2020.

Kctai3007


He didn’t convert, and he has not asked for mgo waiver

However, he “controls” the Insas board and the directors will not buy back shares if it will trigger mgo

So we are settling for the next best thing, to approve mgo waiver (after DS Thong has applied to the SC for waiver from mgo as a result of share buyback) so that Insas can resume share buyback

This should have a positive effect on the Insas share price, and all of us will benefit

This is compromise win win solution
13/04/2020 10:58 AM



Hope by now you understand there were/are tales being spun by people talking about MCO, share buy back,etc, because perhaps they just want to continue to believe and want others to believe as well.

Following information was repeated disseminated in this forum. Like it or not, deny it or not, It had both the unintended or intended influence on forum readers to BUY more Insas shares or to HOLD on to Insas shares.
1. Thong 32% threshold limit, once exceeded triggers MGO, bla, bla, bla.
2. A great opportunity for Thong to convert their Insas-WB in Feb 2020 at a relatively cheap price, Ex price RM1.0, to increase their 32% holding which would then trigger MGO of Insas shares not yet own by Thong, bla, bla, bla.
Why did I said I believe that the above were “Cock & Bull” stories. Please see the following article published in Edge Malaysia 02 July 2019
“Thong brothers hold a big chunk of Insas warrants, will they convert them to raise their stake?”
Jose Barrock , The Edge Malaysia July 02, 2019 16:12 pm +08
https://www.theedgemarkets.com/article/thong-brothers-hold-big-chunk-insas-warrants-will-they-convert-them-raise-their-stake
THE controlling shareholders of Insas Bhd, Datuk Seri Thong Kok Khee and his brother Datuk Thong Kok Yun, are said to be mulling seeking a waiver from making a general offer for the company if they decide to convert the company’s warrants in February next year.
The “if” comes about as the warrants issued in end-February 2015 are out of the money, trading at 3.5 sen, while the strike price to convert the warrant to a share when it expires on Feb 25 next year is RM1.
Insas’ mother share, however, closed last Friday at 72 sen, a 28% discount from the warrant’s strike price, which makes it more meaningful to buy direct into the mother share as opposed to buying the warrant and converting it.
“I do not think any of the warrant holders will convert,” one warrant holder says.
Insas’ October 2014 circular to shareholders says that should Kok Khee and any of his related parties, “exercise their warrants such that their shareholdings in Insas increase to more than 33%, whether on an individual basis, Datuk Thong Kok Khee and/or any of his related parties is obliged … to undertake a mandatory offer for all the remaining Insas shares not already held by them after the exercise of the warrants”.
Kok Khee has a 25.05% stake in Insas and his brother Kok Yun controls 11.19%. Another 18.77% is held by M&A Investments International Ltd, which, according to Insas’ 2018 annual report, is linked to Kok Khee. This would mean that the brothers have about 55% equity interest in Insas at present. Meanwhile, Kok Khee has 31.45%, or 83.41 million, of the warrants while Kok Yun has 31.74 million, or 11.97%.
If Kok Khee and Kok Yun pay RM115.15 million to convert their warrants and, assuming that none of the warrant holders convert, they would control 61.66% of Insas.
To put things in perspective, over the last 10 years, Insas has traded above RM1 for only a few months in 2014 and a brief period in 2017.

Directors and substantial share holders (5% or above) can buy Company shares but they are required to announced it.

I was quite sure before I bought Insas that 32.96% and MGO were not true reason behind and I knew it was more likely to be a make belief "Cock-and-Bull" story.

Even though I did some analysis and was fully aware that o Insas had shown poor business management performance indicators over the years , e. ROE and ROA (< 4%), very low DY, .. that Thong did not have a good reputation in the investment circle, Insas-WA (EX price > RM1.0), still fallen trap to nfor being disseminated in forum. Sigh !!

It is obvious from the above appended announcements that the only Insas Director who see some value in Insas below RM0.60 is Tan Seng Chuan. He put his money in and bought some shares between RM 0.602 and RM 0.378 per share. This is a possible indication of how much dividend Insas would likely be giving in future.All other directors do not seem to have faith in Insas share even at below RM0.50/shar !!!

“Honesty is a very expensive gift. Don’t expect it from cheap people.” Warren Buffett

Reference to
"Can you please refrain from smearing the good name of INSAS BOD and management team with your wild and malicious accusation of game the system without any clear evident or fact?
I had met and talk to Dato’ Dr Tan on INSAS Tech venture (challenge, success and failure rate) and Dato’ Wong on business rationale."

I am one of perhaps many lazzy investors who did not do sufficient personal home work and due diligence. By now, it has become a painful hind sight. Being innocent and naive is no excuse. Putting trust on opinions, insight promoted and publicised in this forum by people who may have knowledge of Insas( or may be vested interests) can become expensive lessons. We heard a lot in the year prior to the expiry of Insas -W on how grossly under value Insas shares had been in light of the then forthcoming maturation of INsas-W in Feb 2020, .., etc...

Would appreciate if Mr. SS Lee could enlighten on why Insas Directors and CEO were not seeing the huge under valuation of Insas shares and how on earth were they not buying Insas shares when it dropped to below RM0.90- RM0.80 ?

TQ.

DATO' DR TAN SENG CHUAN 19-Mar-2020 Acquired 100,000 0.378 View Detail
DATO' DR TAN SENG CHUAN 18-Mar-2020 Acquired 50,000 0.435 View Detail
DATO' DR TAN SENG CHUAN 17-Mar-2020 Acquired 50,000 0.490 View Detail
DATO' DR TAN SENG CHUAN 16-Mar-2020 Acquired 50,000 0.545 View Detail
DATO' DR TAN SENG CHUAN 13-Mar-2020 Acquired 100,000 0.602 View Detail

DATO' SRI THONG KOK KHEE 14-Nov-2017 Disposed 280,000 0.325 View Detail
DATO' SRI THONG KOK KHEE 13-Nov-2017 Disposed 400,000 0.342 View Detail
DATO' SRI THONG KOK KHEE 07-Nov-2017 Disposed 170,000 0.374 View Detail
DATO' SRI THONG KOK KHEE 06-Nov-2017 Disposed 750,000 0.368 View Detail
DATO' SRI THONG KOK KHEE 03-Nov-2017 Disposed 155,000 0.370 View Detail
DATO' SRI THONG KOK KHEE 02-Nov-2017 Disposed 150,000 0.370 View Detail
DATO' SRI THONG KOK KHEE 01-Nov-2017 Disposed 165,000 0.370 View Detail
DATO' SRI THONG KOK KHEE 31-Oct-2017 Disposed 200,000 0.385 View Detail
DATO' SRI THONG KOK KHEE 30-Oct-2017 Disposed 200,000 0.381 View Detail
DATO' SRI THONG KOK KHEE 27-Oct-2017 Disposed 434,600 0.380 View Detail
DATO' SRI THONG KOK KHEE 16-Jun-2017 Disposed 278,300 0.951 View Detail

Insas need the cash for its financial sector of their business and as buffer / support for many other sectors of their businesses that are mostly having extremely poor profit return if not making losses. They should just issue free warrant (without RPS) as "rewards" to existing share holders.
I for one would not want to put more money into a Company which is having such poor ROE and ROA.

Adree with Leno.
No.1 .... I thought is no longer a director of Insas, he is just a major share holder . Why should Insas of CEO of Insas do anything in that respect?
No. 2.....Yes, It amounts to 30/660 = 1/33 = 3% value of share, peanut but better than nothing.
No. 3 Better div of 5 sen may support share price at best at about RM1.0.

Best thing is if Insas can do that again, issue free warrants this year. Although, overall this is still taking money from the public who buy into the warrant but at least existing small share holders can have some benefit.

The primary problem of Insas is very poor business with both ROE and ROA of less than 5% over decades. Compound by low DY, it does not attract major investors.

Leno,Thank you. What you said above is in line with what I said before. I had said in this forum since middle last year that Thong family is in full control. They are at no risk to corporate raiders, there will be no corporate raiders because they know they will never succeed, and Thongs would let warrant B expired because they would never put in more of their money into Insas just to dilute the value of their shares.
Unfortunately because of the spun of the good fairy tales by certain individual, I believe on purpose, many small fishes were trapped when they could have sold their shares when it rises to about 0.90.

By now , we can see the grand stories in the past year in this forum.
- On Thong could be at great risk of losing control of Insas,
- Thong would almost for sure wait until last minute to exercise their warrant-B at RM1.0, golden opportunities
- strongly influencing small investors to hold on to Insas and wait a few more months to get at least a 20% return (when share prices were fluctuating from 0.78 to 0.92 a few time from about mid 2019 to about Jan 2020),etc,etc

In hindsight, I think most likely these are fairy tales stories put in by some or a few who had been benefiting from the up and down of Insas prices. between 0.78 and 0.92.

Appreciate if Mr SsLee, indisputably one of the most knowledgeable person on Insas in this forum, could expound on why the Thong family is not taking any action now when Insas has dropped about 0.40 ? Why the corporate raiders did not appear ?

TQ

Zen Cheong:
For every 3 shares pre bonus, 2 bonus shares are given. So after bonus shares are given out, you will have 1400*(3+2)/3 = 2333 shares.
Average share price = 1400*2.13/ 2333 = RM1.28 /share.
In future, you may need to sell 33 shares as odd lot shares. Alternatively, you can buy 67 shares from the odd shares market to make up to 100 shares. Both could involve stamp charges.

Newbiesi3:
3000*2.04+7500*1.35=RM18387
RM18387/(3000*5/3 + 7500) = RM16245/12500 = RM1.30

All Shariah funds should have sold all their PENTA shares today. If they didn't, any capital gain they gain from selling PENTA from Monday onwards need to be donated to ISLAMIC charities.
Total traded volumes is 137m shares. PENTA has a total of 475m shares. Assume 50% are SELL,
137m *50% = 68.5m which is 14% of total PENTA shares!!
This is obvious a strong force selling because of Shariah rules.
Fortunately, the non Shariah compliant people are still able to support the extreme forced SELLING. The revised Shariah compliant list was only know last night and there is no reasonable disposal period like a few months.
I think this is one of the strong chase away signals to Foreign fund managers.

Shariah funds are required to donate any capital gains made to Islamic charities (NOT any charities) if they sell a stock which is reclassified as non shariah compliant after today as the next two days are weekend. However, the revised list is only published after office hours yesterday !!

Tq SsLee.

If Halim could ever succeed, it would also be BAD for INSAS and its shareholders in the long run. I am not aware that he had generated true business values by growing business through competitive and superior goods and services to society and hence creating more market values and market capitalisation. It is more like flipping, previlleges, etc, that they mistakenly understand to be called "Dignity"and they want more of those "Dignities". Hard work, competitive, honestly, integrity which are important qualities of DIGNITY are probably not in their belief system.

If Halim or others have any intension of taking over, he/ his associates would be buying Insas shares and WB. Share prices would be on up trend already. The quietness reveal what is behind. They know it is not possible to succeed in a hostile take over because Thongs and their associates have more than 50% in their hands.

The extension of warrant expiry period must also be accompanied by the special bonus with a x-date of the special bonus shortly after the extended expiry date. As at now, Insas 'business as usual' will not be able to able to command a sustainable higher market share price. There is no hostile take over because the Thongs and their associates have over 50% control.

A good reason for applying to SC for suitable extension of the warrant expiry date is to allow INSAS to come up with a good tangible business plan to utilise the additional money raise from the shareholders to earn more money for the company.

The only sure way to have sustainable higher market share price is when the company is making have growing profits, ROE ( say >10%) and start giving growing dividends.

Insas can strong guide the market to exercise the warrants if they target the entitlement x- date of the special bonus say in March 2020. In this way, whoever hold warrant B holders will exercise their warrants. If the exercise period is extended and the timing of the special bonus x-date is before that, the warrant holder may not convert because the share price will drop back below RM1.0 after X date.

Insas must come up with a good business proposal and execute it to sustain the share price above RM1.0 and grow higher when the plan turns into tangble results that market can see.

Although not necessary in this case, the board could also extend the warrant expiry period by application to SC. If the reasons are good, it will be approved. There have been precedents of extending the warrant expiry period.

I think there is sufficient time to make the above offer of special bonus before expiry of the warrant in Feb. The X date of the special bonus must be after the warrant expiry date so that warrant holders will exercise their conversion as the share price is at higher price.

There are numerous listed companies with major shareholders owning much greater than 33% share without having to go for MGO's. All he needs to do is to request for exempltion.