“M55555 > Why not explain why price from 0.10 went down all the way to 0.005 ( if can go lower it will) . Why there is some many ESOS ,and every ESOS price will be cheaper then the previous ESOS and market price…”
Please read some articles I wrote after Focus Dynamic “waterfall”, from Billion Market Capital (more than RM2 to few sen), Fintec buying more to defend selling pressure as Focus Dynamic ‘cash rich’ from Focus-PA conversion.
My inaccurate tabulation shows “Fintec acquired Focus D until almost to the point of triggering a General Offer.
Fintec did purchase 282,700,000 Shares collected within 10 days, collection stopped around 6 Sept. 2021?? Major collection, most probably patiently at 4 to 5.5 sen only!!”, could be the reason the drop from 10 sen..
On PP and ESOS, I am speechless as wrote “@Forumer1: 8) Keep issuing PP, SIS even the price at 1 - 1.5 cents. If the BOD really take care of the company, at current low price with high cash in hand, why still want to issue more shares to get cash? is it to the good of the company or got other agenda?
BLee: I am speechless. Please see my article at link:
https://klse.i3investor.com/blogs/BLee_Fintec/2021-10-28-story-h1592921506-Fintec_I_am_speechless.jsp
I am with most Forumers campaign against 'unfair' form of fundraising..”

PP and ESOS are restricted offer, who actually loses if price at 0.005 pre-consolidation?

Article title: Fintec: Few good questions for clarification.
BLee Publish date: Sun, 26 Dec 2021, 02:40 PM
Link: https://klse.i3investor.com/web/blog/detail/BLee_Fintec/2021-12-26-story-h1596407088-Fintec_Few_good_questions_for_clarification
There are a few more articles written, please go through them and comments, criticism and opinion welcome. Happy Trading and TradeAtYourOwnRisk

"...The gap from 15 sen to the highest 24 sen is filled up by speculative $...how much will be picked up eventually? TradeAtYourOwnRisk"
2 days ago

Let me explain the above statement: If there are more contra players than actual investors picking up if the price did not go higher, price can drop back to 15 sen and below. Nothing about con or no con.. The reverse can also be true i.e. more $ flow in at higher price overcoming the contra player. The risk is 'if' which no one knows.

On the topic of Consolidation, the reduction of NSOH is inversely proportional to share prices and NTA per share, amplified with 'gap' prices.. i.e. 0.005 to 0.01 become 0.15 to 0.30 and NTA per share of 4 sen to 4x30 equals 120 sen roughly..so what is 22.5 sen compared with 30 sen and 120 sen? again TradeAtYourOwnRisk for Buying, Holding or Selling. Own Choice, con or no con..

“raizalmyinvests > Just stay away from conman company.”

Yes, my clarification on ‘ICPS could be con for others to invest in this type of financial instrument’, therefore I always include a disclaimer: “TradeAtYourOwnRisk”. Everybody has the right to invest or stay away, it is a personal choice. When ‘Profit during Uptrend is not con’. When ‘Lost during Downtrend is con’ is a very normal mentality. Are recent frantic buying of Fintec after Consolidation sign of many been con or otherwise? Your guess is as good as mine!! Agreed, if feel ‘con', just stay away as all counters have investment risk, especially counters at high price above their fundamentals… again ‘TradeAtYourOwnRisk’

“Sales > People bought at 0.10 before consolidation, even go up to RM2 also making loose.”

To play/invest in Share Market, you need to start small, and do cost averaging if required. That's the reason I am interested in Preference Share (ICPS PX) i.e. at lower cost, autoConvert upon maturity and with prepaid value. I started Fintec-PA, Focus-PA and Ages-PA around 1 sen buying only around RM1k only. Now, after queuing at half sen or buying 1 sen when there are sellers at half sen during market opening, managed to get millions at half-sen (written an article showing my trades). Only Focus-PA at paper lost now, Fintec-PA averaging slightly above 10 sen and Ages-PA managed to sell 40% at 1 sen and another 40% at 1.5 sen, the remaining 20% holding at cost free..
My ICPS investment started when I noticed a large amount of Focus-PA converted during the big ‘waterfall’. I did a lot of research and wrote a few articles of this ‘waterfall’ just for sharing, and hoping more people understand types of Preference Share. My Preference is (I)rredeemable (C )onvertible type (P)reference (S)hare as (I) is autoConvert, unlike Warrant which expired and (C ) can be converted with cash or PS with built-in value.
I have no fear of Focus-PA Consolidation as seen from Fintec-PA post Consolidation. After Consolidation, as seen, less and less sellers at lower value and chances of selling between 15 sen to 30 sen are more, comparing than buying at half sen to selling at 1 sen with 100% profit (long Q of seller)..Happy Trading and TradeAtYourOwnRisk

Welcome @dawchok. Years ago, Western Digital sold their PJ factory/land and moved their operation elsewhere. Speculated reason: HDD quite obsolete, replaced by SSD? I think WD is still having HDD operation in Penang, expanding the plant to do other storage drive ventures. At one time, WD planned to invest in SSD Toshiba Japan, but the plan did not come true, don't know what their next move into SSD is. All this info read from the newspaper report, therefore not proven...

“Sslee > All loans by Insas credit and leasing are with collateral.”

Yes, secure and unsecured?.
Out of 5 loans highlighted, 2 didn't have sufficient security as shown in the report.
ICL - QR pursuant to Para 8.23(2)(e)LR-31Mar24
Paragraph 8.23(2)(e) Appendix 8D(4) - Top 5 loans (with aggregation of loans given to same person or connected persons)
Loan 1 - Total amount outstanding (including interest) in RM'000 - 132,101
Value of security provided in RM'000 - 83,500
Loan 2 - Total amount outstanding (including interest) in RM'000 - 62,959
Value of security provided in RM'000 - 38,703
How many loans are secure, unsecured and under secure? Insas could end up with cars, machineries, etc as assets and cash equivalents…your guess as good as mine. I am not saying Insas is not worth the calculated NTA, especially with Inari as a cash cow, it is just a balanced view. Happy Trading and TradeAtYourOwnRisk

“Income > If Insas prices reach The all-time low price for INSAS BHD stock is 0.805”
0.805 is 52 wk low, not all-time low. My initial Insas investment was below 60 sen years ago, for Dividend income only. Another Insas purchase for trading purposes also around 60 sen is now averaging below 70 sen, holding 20% cost free… @TheContrarian is right, I get more profit from the second account although only 10 sen higher average price due to trading averaging. I only start active trading again during work from home period; and now find time to ‘blow water’…Haha

Due to the recent hype on Data Center, below are some of my findings. No right or wrong and no recommendations on any endeavors.
Below are answers from Meta AI on the question ‘data center prefer storage medium’:
“Data centers typically prefer storage mediums that offer a combination of high capacity, low latency, and high reliability. Based on current industry trends and advancements, here are some popular storage mediums used in data centers:
1. *Solid-State Drives (SSDs)*: SSDs are preferred for their high performance, low latency, and high reliability. They are ideal for applications that require fast data access and high throughput.
2. *Hard Disk Drives (HDDs)*: HDDs are still widely used in data centers for their high capacity and cost-effectiveness. They are suitable for applications that require large storage capacities and are not latency-sensitive.
3. *Flash Storage*: Flash storage, such as flash arrays and flash storage systems, is gaining popularity in data centers due to its high performance, low latency, and high density.
4. *Object Storage*: Object storage solutions, like Amazon S3 and Ceph, are designed for large-scale storage of unstructured data and are often used in data centers for their scalability and cost-effectiveness.
5. *NVMe Storage*: NVMe (Non-Volatile Memory Express) storage is a high-performance storage interface that is gaining traction in data centers due to its high bandwidth and low latency.
The choice of storage medium depends on the specific needs of the data center, including performance requirements, capacity needs, and cost considerations.”
Some others comparison from Internet surfing:
SSD vs HDD, which is better for MTBF?
Mean Time Between Failures (MTBF) For example, an HDD may have a mean time between failures of 300,000 hours, while an SSD might have 1.5 million hours. Manufacturers provide these specifications for their products. 5 Apr 2024
Access Speed Comparison
Solid-state drives are much faster than hard disk drives, and the speed difference between the two types is significant. When moving big files, HDDs can copy 30 to 150 MB per second (MB/s), while standard SATA SSDs perform the same action at speeds of 500 MB/s.30 Jun 2023
A very good article to share on NVMe vs SSD vs HDD, Link:
https://unihost.com/help/nvme-vs-ssd-vs-hdd-overview-and-comparison/

https://www.smartm.com/product/list/data-center-ssd?utm_source=google_sem_my&utm_medium=cpc&gad_source=1&gclid=CjwKCAjwl4yyBhAgEiwADSEjeK_yc3zUapv22dCRWu2i92smitk2DMp-zc57yUwUygtVAfGhOyPIWBoCB0QQAvD_BwE

There is another Storage Drive/technology in the pipeline, Link:
https://www.sciencealert.com/new-data-storage-in-3d-using-light-could-hold-a-million-movies-on-a-single-disc

Before we know it, the current Data Center will become obsolete, if no upgrade in storage technology!! Which companies have the edge??

“Tatooine > Under thongs leadership hohup bust! Has insas leant money to hohup ?”

Very good question, the borrowed $ will be parked under liability, lending $ still consider assets, will it park under cash and cash equivalents of 859,238k?

Most likely the $ lend out park under Insas Credit & Leasing Sdn Bhd.
Link:
https://www.klsescreener.com/v2/announcements/view/6843609

Paragraph 8.23(2)(e) Appendix 8D(2) - Total borrowings as at 31 March 2024
(a) Loans given by any corporation within Insas Berhad Group to the money lending subsidiary company - 207,136k.

Another possible source of lending out $ is the stock broking arm, maybe could be double count from figure above depending where the borrowing from..

Insas owns many other companies, will it be by borrowing?? Double count again?

Below describe activities that need lots of $, where the $ from?

Insas Stock & Share Broker arm: The principal business of M & A principal is dealing in securities and acting as Stock & Share Broker for securities traded on Bursa Malaysia and other approved Foreign Exchanges. We also provide other service and products which includes Share Margin Financing facilities, Nominee and Trust Account Services, Day Trading, Internet Online Trading and Underwriting for securities under Initial Public Offerings / Rights issue.

The key word is Nominee Account. Is OCBC held under Nominee Account? How much is being utilized for Share Margin Financing? Therefore the above question by @Tatooine is very good and can only be decoded and answered by a good accountant (not me)..due diligence needed before thinking buying more than 50% of Insas??

“Musang King > BLee, thanks for your writing above.”

Thanks for the appreciation, I will write more if I find more facts and dispel any fallacies.. Also thanks for your Fintec-PA conversion as it will add more funds to Share Capital, lessen the liability, thus improving NTA amid slightly. Since QR cut off reporting at the end March 2024, your contribution can only be seen in June 2024 QR. Let's see if it is correctly reported or otherwise..
Your prediction on Fintec-PA can come true sooner than later as it is in the money considering 11 Fintec-PA can be converted to 8 Fintec mother shares i.e. 15x1.375 equals 20.625 vs present mother price of 22.5.

“Sales > Never going to touch this type of stock.”

Yes, please don't invest in Fintec if looking for a good Dividend as has been loss making for years. Fintec has been issuing ESOS, Private Placement, all forms of RI etc with ‘condition’ during the pandemic period which has since been withdrawn (the ‘condition’). Share Prices have been going downhill until to the lowest of 0.005. Is it ‘missing the boat’, if ‘not touch’ during the lowest; or will it reach the lowest again after Consolidation? Your guess is as good as mine!! Happy Trading and TradeAtYourOwnRisk

Updated to include post consolidation purchase of Fintec-PA (Detail 3). Just trying my 'luck' with ICPS investment. Due to low price of 0.05, managed to purchase in the millions for Fintec‐PA (pre-consolidation) and Focus-PA.

“M55555 > RM0.30 equivalent to 1 sen before consolidation , 3 sen before consolidation = RM0.90. Die”

Yes, for those who bought at 3 sen, and not able to get any at 0.5 sen??
If it just reaches RM0.30, which is not far away now, it will be a 100% gain. Managed to get some Fintec-PA at RM0.1 post consolidation, now already in paper gain. So my ‘toilet paper’ is worth RM0.15 with buyers queuing up..hopefully. TradeAtYourOwnRisk.

Fantastic, it takes MYR968,652 to push up after absorbing ALL selling pressure...the pros of Consolidation. The gap from 15 sen to highest 24 sen filled up by speculative $...how much will be pick up eventually? TradeAtYourOwnRisk

Fantastic, ALL selling pressure absorbed, next hurdle RM0.30 (equivalent to 1 sen before Consolidation).

“BE_GREEEEEDY > …FANTASTIC ..
Those old fashioned thought conso is bad is out dated”

Downtrend, what horse also die…Uptrend, All Fintec horses and related counters gallop gallop and away!! Hopefully. Haha.

“Musang King > …Now the Market is acknowledged that Fintec is really undervalued by 5.2 times which is Good to buy as the Net Worth per share is RM 1.17 now after Consolidation. Cheer”

Come year 2027, the Net Worth will be more with the auto conversion of Fintec-PA i.e. every subscripted ICPS at 8 sen x 30, will be merged with the mother paid up Capital. As seen in Fintec 2Q2024 report page 3 of 16, (Link: https://www.klsescreener.com/v2/announcements/view/6600177 ), ICPS is parked as Equity and Liabilities. Come year 2027, most likely this MYR 17,833k will disappear (added to share capital).
Please also observe, this Consolidation done after the expiration of Fintec-WC, the ‘shouting’ of Billion NOSH will not happen in the near future as Fintec as at now, no outstanding Warrant.
Happy Trading and TradeAtYourOwnRisk

“Musang King > Fintec today up 0.005 to 18.5 sen. Total units done 2,327,200 steady.”

Like to add, buying of 18.5 sen at 79% and left only 1 seller of 18,600 shares. It is supported by 12 buyers of 718,500 shares at 18 sen. Nice closing and uptrend seen. Hope today the Glove factor will flow into Fintec and lift it higher tomorrow…Happy Trading and TradeAtYourOwnRisk.

“Income > Gloves flying? Oh Dear… disease is back???”

Hope no more pandemic, once in a lifetime is enuf..
Please read Top Glove forum; ‘US raised the tariffs on Chinese rubber medical and surgical gloves to 25% from 7.5%’, hoping this will benefit Malaysia Glove manufacturers.

On another note, 1 Inari can get 3 Insas. If Insas can reach MYR1.8, that will be an almost 80% increase. Can Inari increase by 80% to MYR 5.4?

This is a follow up article I have read in i3. Link:https://www.hydrocarbonprocessing.com/news/2024/05/diesel-profit-margins-decline-amid-lower-demand-more-capacity/
What is the impact?
‘- will Refineries reduce tankage for Diesel? How about spending $ to retrofit to accommodate for other more profitable ventures?
‘- will the biodiesel plant need to be retrofitted, to accommodate other more profitable ventures?
‘- will Waste-Cooking Oil (WCO) still be feasible for biodiesel conversion? Link: https://www.businesstimes.com.sg/international/flood-chinese-used-cooking-oil-spurs-call-boost-us-tariffs

“Ausfird > Hi. Anyone use FSMOne? I have an account there but want to compare with others.”

Don't know much about FSMOne, but can give my opinion on my 3 IB account.
RHB IB - Good remisier with good advice, commensurate with the higher commission.
Kenanga IB - Direct account where I park my more valuable shares, negotiable commission.
Rakuten - Nominee Account, where I park my low value stocks. Lowest commission, as low as one Ringgit for each Hundred Ringgit upto Seven hundred Ringgit. Very good for parking my spare change whenever available…

TheEdge report gives a better picture, Link:
https://theedgemalaysia.com/node/711571

The findings are in parentheses, as usual just a quoting only..highlighted are two flagged ‘impairment’ issues not addressed, i.e.
“Notably, there were two other issues raised by the external auditor that were not addressed in the independent assessment.
The auditor flagged that Ageson did not recognise impairment for its capital contribution in its subsidiaries — namely Ageson Development Sdn Bhd and Ageson Enterprise Sdn Bhd — totalling RM140.47 million. It said accumulated losses would have increased by RM63.97 million as of Dec 31, 2022, had such losses been recognised.
The auditor also highlighted that Ageson did not recognise impairment for its other investments related to Ageson Development, which would have otherwise increased accumulated losses further by RM4.15 million.”
@sting79, Virdos Lima Consultancy (M) Sdn Bhd (“VL Consultancy”) office phone number 0378870889 can be easily found with Google search..
Happy Trading and TradeAtYourOwnRisk

There is so much ‘water under the bridge’, today report, Link:
https://www.klsescreener.com/v2/announcements/view/7004493 , dispelled some negative comments on AGESON. Some details extracted from the reports as below:-

“The issues and matters raised by the Company’s external auditors in the Audited Financial Statements for the financial period ended 31 December 2022 have been addressed accordingly.

‘- 1. Disclaimer on Revenue Generated from Trading of Construction Materials
1a Ageson SMSGMBH Sdn Bhd
The Company recorded revenue from trading of polyester plywood and cost of sales in the statement of profit or loss and other comprehensive income for the period ended 31 December 2022 amounting to RM412,959,680 and RM322,180,800.
Finding: It was noted no irregularities based on the analysis on the respective customer’s audited financial statements.

1b Ageson Power Sdn Bhd
The Company recorded revenue from trading of polyester plywood and cost of sales in the statement of profit or loss and other comprehensive income for the period ended 31 December 2022 amounting to RM26,078,720 and RM20,841,600.
Finding: It was noted no irregularities based on the analysis on the respective customer’s audited financial statements.

‘- 2. Veracity of the fair value balances of Ageson Berhad’s other receivables carried in the statement of financial position, amounting to MYR43,301,840

Ageson Berhad
The balances of the Company’s other receivables carried in the statement of financial position, amounting to RM43,301,840 as at 31 December 2022.
Findings: Based on the independent assessment, it was noted that Ageson Berhad’s other receivables totalled MYR 43,301,840 as of 31 December 2022. Of this amount, Prinsiptek International Limited owes MYR 1,799,065. The entire amount has been fully impaired by the Company for the financial year ending 31 December 2023.
The remaining balance of MYR41.5 million pertains to the stakeholder sums held under Ageson’s panel legal firm.
‘- 3. Dispute on Valuation of Intangible Assets in Ageson Industrial
Ageson Industrial Sdn Bhd
The balances of the Company’s property, plant and equipment carried in the statement of financial position, amounting to RM138,471,667 as at 31 December 2022. The Company recognizes its property, plant and equipment based on cost model. As a results, there is deferred tax liability of RM13,699,200 reported in the financial statement.
Findings: Based on the independent assessment, the valuation report appears to be supported, and the personnel responsible for the valuation possess the requisite credentials and qualifications.
The Company will work closely with the potential auditor to address the above in the audited financial statements of Ageson for the financial period ended 30 June 2024.”
IMHO, will have to wait for a few more months to see the actual corrections on the audited financial statements of Ageson for the financial period ended 30 June 2024…to hold, buy or sell.

“TheContrarian > Insas has new target price, RM1.80.”

Yes, RM1.80 if Insas ‘kill the Golden Goose’ Inari, and can afford to pay 35 sen Dividend..haha

“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.

“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

“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..

“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.

"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.

“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.

As reported by TheEdge,
Link: https://theedgemalaysia.com/node/710942
'RM180 bil available for construction sector jobs this year', it will most likely revitalize the construction industry for the next few years.
This involve materials required for typical construction i.e.
'- Steel bar
'- ingredients for Concrete making
'- Bricks and mortars
'- Fittings for the construction industry, etc
As Construction takes time, some of these materials are required earlier than others, so demand will be based on sequence of construction stages.
Looking forward to the improvement of the construction industries, happy trading and TradeAtYourOwnRisk

“TheContrarian > Insas sinners, repent! And Insas will rise again. Cepat insaf, hahaha.”

Sound more appropriate, Insas sinners insaf (repent), Inari AI ia (it) Insas saver..haha

“TheContrarian > Everyone should insaf.”

Insaf (repent)? I am not one of these ‘Everyone’ as my free holding cost less than 60 sen.
Why is Insas price trading at a great discount? Few days ago, I went to a member day sale. Most of the merchandise on sale at up to 80% discount; yet no taker. Are there any similarities? Is it Insas trading price not worth the calculated book value? Or is it the upside risk not worth taking the risk? I hope someone can contribute the answer to some of my questions above.
Meanwhile, my answer could be:
‘- the possibility of dilution risk if Insas-WC, paying 90 sen will get converted to one new insas share of NTA 3.57 and EPS 14.72. What happens when 331.423mil Insas-WC gets converted?
‘- how much earning is required to pay interest on 132.604mil Insas-PB half yearly?
‘- how much Inari shares to be disposed-off to prop up the EPS?
‘- the ROE of 4.12 is with Inari disposal, what will be the figure if excluding.

I am holding Insas for years because Insas gives better returns compared with FD rates and my other passive income. If the return does not meet my anticipated passive income rates; I will search for some other stocks which can... i.e. the higher Insas price, the expected return should be more. Is that the case? Therefore, Insas price can only go higher if the return gets a higher percentage return, not at the same return rate yearly..Happy Trading and TradeAtYourOwnRisk.

“xiaoeh > Noted and Thanks BLee”

Welcome. As it is lunchtime, and am in the mood to be cheerful; let me tell a real ‘joke’..
My Civil Engineering colleague and a group of boys and girls (me inclusive) went dating uphill at GH. This particular colleague keeps telling how nice the curve of the drain and the slope is. One girl gets quite angry; says of all things, why are you so interested in the drain with all the other nice curves around..hope all of you have a nice laugh (occupation joke, no offence intended) as what we did then. Happy working for those still slog it out.

Let me tell another investment story.
A very smart lady is selling an investment trust fund, promising 8 to 10% proven return over a very long period, a few years back. The max investment of RM200k and guarantee bank loan of the same amount with lower interest than BLR. Only the privilege qualified. I don't qualify, so she then tried very hard to sell another policy tied to EPF withdrawal. I declined saying I can get better return dabbling in Bursa (Insas inclusive)..
In recent years, that trust fund has paid a lower return than my EPF; luckily didn't entertain her. For those qualified, still can make $ provided the return stays above 4%..

“Xiaoeh > just to ask
Do all Warrents issued to be converted to mother share eventually?”

The answer is No. Warrants or Preference Share with attached auto-convert term will eventually convert to mother Share.
Insas-WC can be converted with 1 Warrant plus 90sen and Insas-PB will get back the subscription amount upon maturity. This the link on TnC:
https://www.klsescreener.com/v2/announcements/view/3318726

“CharlesT > RM300K div a year?

If u have capital RM4M with DY 7.5% a year can kaotim oredi

Some Reits can help u so”

Yes, a lot of other passive investments can get 7.5% return; but what happens to the principle outlay? When Dividend goes ex, the Payout will be deducted from the share price. It is just like $ take out from the right pocket into the left pocket!! At a good time, both Dividend and Share price appreciated. What happens when at a bad time?
One passive investment, my few endowment insurance policies taken around thirty years ago, has been consistently paying more than 7% return without reducing Principal value.

“TheContrarian > @MrSslee, entry price is important”

Totally agreed. As shown in my Insas CAGR over a 10 year period, my entry price was less than 60sen, DY almost twice compared to those paying at RM1.2.

CAGR investment for properties is a bit difficult to calculate; as one of my Condo stays vacant for more than a year during the pandemic as colleges stay closed. If not, based on the one third price purchased twenty years ago compared now, could easily get the 7% return..
Properties investment is not a bed of roses as location, location, location is very important. It takes more than 10 years for a new location to bloom.
Above discussion most likely for the young one, as time is always the essence for investment to bore results. Just sharing experience and 吹水 (Blow water) only.

“TheContrarian > The article was written at that time to promote Insas-WC.”

It could be partly true, but have to take the statement ‘nor I have any intention of promoting any share, which I never do.’ at face value. Will let the writer defend himself if he follows our discussion.

Many have doubts (myself one of them) on the type of warrants and Preference Share; his article is very educational, no doubt about it..

For example;”Warrants that give the right to buy a security are known as call warrants; those that give the right to sell a security are known as put warrants.”, the first part understood, but not the second part. I only understand the first one goes up then you make $ by selling and the second makes $ when it goes down by selling the warrants?? Both make $ by selling, not one buy and one sell to make $..or are we just talking about ‘right’; confusing??
Preference Share is another ball game, as some are Convertible (C) or not and Redeemable or Irredeemable (I or R); so Insas-PB will not follow the mother share as it is Redeemable and not Convertible..just sharing. Happy Trading and TradeAtYourOwnRisk
Sori for the time delay on topic as still a bit bz to follow the conversation..

“kcchongnz blog >
Insas Warrants WC and Its Valuation kcchongnz

Publish date: Mon, 22 Jan 2024, 03:11 PM
This article is for education purpose. It is not about how I made money (or lose money) buying any share mentioned, nor I have any intention of promoting any share, which I never do….”

I have re-read the above writer's article, very refreshing. I think he is another example of getting old gracefully…I hope he will write more.

“3iii > …Yes, they may not be able to risk losing money damaging their financial health, especially if they do not have another source of income.

Those who are financially better off, may take a different approach. In fact, they are not able to spend all their income. Incomes continue to accumulate and reinvested…”

Very well written, am almost at this cross road now.
I am very much in properties now collecting rental to sustain my daily expenses. Any extra will be used in traveling and reinvested in properties and the share market. At one time, I was almost out of the share market selling some bank stocks, selling one penny stock now at RM8 then and one great stock now at around RM4. The $ reinvested in properties which almost treble in price and the rental received enough to cover the bank loan.

“xiaoeh > wah...
good experience sharing...
appreciated and hope we have more of this kind of sharing coming”

Yes, good sharing. Let me share my experience, but still like to remain anonymous behind “BLee”.

My younger days not rich, but stays at a very rich environment, i.e. TOL land of 200'x50’ plank wood bungalow. My siblings and myself could do outdoor activities everyday cycling and playing hide and seek around the small squatter house. I couldn't give this environment to my children (1 ingenieur, 1 accountant and 1 IT).

Career wise, study Mechanical Engineering but more to Electrical Engineering and Technical Procurement after doing M&E works initially.

“TheContrarian > If 70 years old, don't speculate in the stock market.”


Why not, if got spare time and $?
If I am fully retire, I will take stock investing as my hobby and 吹水
(Blow water) everyday..now only during weekend.

“TheContrarian > Mr Sslee is asking why funds buy Inari via private placement rather than making a hostile takeover of Insas.”

“Sslee > And the best part if able to take over Insas then you still have whatever inside insas including the 1 bilion cash hoard.”

In a nutshell, PP is internal funding inside Inari which can add Inari value whereas buying Insas from the open market could be a ‘futile hostile’ exercise…two different exercises with two different outcomes.
For example, both Inari and Insas are a piece of empty land (Insas own a small portion of Inari); PP is $ spend to build a tall building to add value whereas bidding/spending on the other piece of land could be a ‘futile hostile’ exercise with no value added…

“Sslee > I do not understand why people spend billion just to hold 330,000,000 inari share when they can use the same billion to become controlling shareholder of Insas and hence become controlling shareholder of Inari.”

Since after some time, no opinion forthcoming (only @TheContrarian opinion before finish typing) , my take:
‘- PP subscription at max of 10% discount from 5 days VWAP, chances of gain logically.
‘- PP $ added to paid up capital, unlike buying from the open market.
‘- if buying from the open market, the price will fluctuate; just like throwing $ into a bottomless hole..

There are pros and cons of PP, hope it will answer Sslee's question. Other opinions are welcome. Happy Trading.

“3iii> Value investing is about buying a stock at a sufficient discount to intrinsic value.”

Totally agreed; and there are many other factors to consider such as EPS, ROI, business risk, etc.

How I see below data:
52 Weeks Range > 0.805 - 1.35
At RM1, the down side is very limited.

52 Weeks Price Volatility (%) > 35.78%
Quite active, downtrend, but cyclically can reach the highest again during the next RPS if it happens.

T4Q P/E | EY > 6.79 | 14.72%
Comparatively among the best with others listed stocks.

DY | Payout % > 2.39% | 16.24%
Slightly below FD return, good CAGR over 10 years as shown in one of my articles. Cannot compare with MFCB, my other calc comparison.

T4Q NAPS | P/NAPS > 3.41 | 0.29
These are the only data perceived as ‘value trap’ at present price.

T4Q NP Margin | ROE > 53.42% | 4.31%
Good NP Margin, but ROE is not attractive; still better than FD rate.

Hi @TheContrarian, what do you mean “They think they are buying a dollar for a quarter.”? Better saying “a Ringgit for 3 Ringgit and 41sen”!!

“3i> Insas
Current Assets 1989 m
Total Liabilities 531 m
________________________

CA - TL = 1458 m

Market Cap = 663 m (@share price of RM 1)

Net-Net value 1458m - Market Cap 663 m = 795m

Therefore, you can take this company private, settle all the liabilities and still pocket RM 795 m cash.”

Never thought can calc Net-Net value this way? Impressive?
Since Market Cap is a ‘moving target’, how sure can ‘sapu’ all at RM1?
Only the cash portion in CA sure if..(not suggesting anything), how much ‘others’ CA can turn into cash easily? The ‘if’ makes share investing interesting. I will keep my zero cost holding, not worrying it will fall below RM1, happy Trading and TradeAtYourOwnRisk

IB write up on Insas-WC, as it is still in $...hope the mother Insas will be covered in the next write up.
https://klse.i3investor.com/web/blog/detail/PublicInvest/2024-04-09-story-h-184548980-Technical_Buy_INSAS_WC_3379WC

I thought jks for 'just kiddings'; never thought of the missing 'a'. No comment as never know any investment can bear fruits in the future...

“what will value investors decide to buy?”

Ordinary value investors will buy Stock A as it is higher than Bank FD interest.
A diversified value investor (me) will buy Stock B as the stock will give a higher return than most of my other passive income.
A gambler value investor will buy Stock C. I will NOT commit even 5% of my wealth. MFCB calculated over 20% CAGR of 10 years, is an exception as the growth is over a very long period; would not be a suspected “con Stock”..

"Sslee > Insas is definately not a con stock. Insas is just a value trap waiting for something or somone to unlock the value."

How do we define a "con stock" and a "trapped stock"?
In a nutshell, buying high and staying low for a long period could be considered a "con stock" or a "trapped stock"...
Insas RI of RPS every 5 years, is it a "con" act? I have made a gain close to 60sen/right selling the rights, to me, definitely not a "con stock" act. It is up to individual action.
What if for those who chase up to RM1.30 during recent meteoric rise and drop back to around a Ringgit? They will feel conned and trapped..Just my opinion.

Not only the birds, don't forget the bees also:

https://youtu.be/LzB23JO33cE?feature=shared

"Insas NTA RM3.57 but no one willing to buy at RM1.08? What is the reason? Why is Insas shunned?"

Very good questions. The answers/conditions could be how Insas went up from around 90sen to RM1.30 recently, an increase of roughly 45%.
My "blow water (吹水)" thinking:
'- rumors of takeover news or the lack of corporate activities can have an effect on share prices?
'- financial changes from the norm? If every quarter has the same performance, no IB will notice to write a good report.
'- what is the quality of assets in the NTA? Return of investment (ROI) will be a good indicator, how is Insas cash getting a good ROI?
The question mark (?) is due to uncertainty as there is no right or wrong, as it is just an uncertified opinion…

Believed is one thing, getting to par value of NTA RM3.57 will make one happy. Some more at zero cost after taking selling profit into consideration. Trapped or not is no more important; as one famous Forumer boasted, lock in safe and throw away the key. Haha