For once I agreed with 3iii capA aviation business model is a gruesome business

The best breakout is when certain micro or macro conditions change that result in sustain sudden earning increase.

So must be patience to wait for wawasan 2026-2027

If yuu depend on TA trend breakout to time your buy in for sure you will also meet with some false breakout.

Hence you can blame Tong theedgemalaysia for the false breakout.

For once Sifu' Holland buy call help those trapped in insas to exit at a good price.

China people are the patriotic lot when push comes to shove their nationlist instints will complied them to buy make in China. So never underestimate the will and resolve of China people and CCP.

Yes the sharks are q buy at lower and lower price. Once the sharks collected enough they will start to pump again.

Insas attracted many retail investors hence many retail investors and small sharks buy low and start selling to new retail investors when price hit 1.20 and above

Once insas price start to retreat many retail investors just cut lose and put their money in other hot stocks.

Insas need a deep pocket big shark to make a raid and take over Insas to unlock its value or else Insas will remain a value trap.
Controlling shareholders (Thong and his PAC) like to lock value inside insas untill they make their move to increase their holding from 32.96% to above 50% at lowest cost to them.

One of them is Leno still waiting for RM 6 or 60 kambing. If Leno is not careful come Feb 2026 his WC can be a worthless toilet paper.

It is more luck than anything else that the land is now many time more valuable due to high demand spill over from Singapore

The question why not doing this 5 year USD Bond issue at 9.625% interest in Malaysia?
Many institution funds and me will q up to buy this bond.

Haha as long as his holland call did not kill you then you still make a huge gain from his chun chun call.

Someone need to ask Yinson CFO why paying more than double the US 5 Year Treasury Rate of 4.68%?

Is Yinson cannot get a normal USD loan from bank with lower interest rate than 9.625% to refinance the matured borrowing?

SINGAPORE, April 19, 2024 /PRNewswire/ -- Yinson Production Offshore Pte. Ltd. ("Yinson Production") is pleased to announce the successful placement of a USD 500 million senior secured bond issue with a 5-year tenor and a fixed coupon of 9.625% per annum in the Nordic bond market.

5 Year Treasury Rate is at 4.68%, compared to 4.62% the previous market day and 3.71% last year. This is higher than the long term average of 3.75%.

The 5 Year Treasury Rate is the yield received for investing in a US government issued treasury security that has a maturity of 5 years

KYY wawasan 2020 for jaks JHDP become wawasan 2030.
By 2030 when jaks JHDP repaid all the loan then jaks will receive huge dividend from JHDP.

The only problem can Jaks survive till 2030?

If only I have a billion I will make a hostile takeover of Insas and make another billion.

Know what is insas NAPS growth rate?

The problem with insas is due to controlling shareholder Thong and PAC would like to keep insas price low so that they can time their move to increase their holding from 32.96% to above 50% at the lowest cost to them.

As minority shareholders I can't do anything except buy low and sell high.

Is 3iii implied Tong of theedgemalaysia who started this round of Insas spike up is the only one who has this tremendous insight that this stock is cheap and all the other people who are very active, smart and intelligent (3iii included) in the market are ignoring this company because of their ignorance or ego or prejudice or they are not smart enough?

By now you should know why Thong refuse to give fair and reasonable dividend and distribute retained profit as special dividend.

No worries, I will make jayatiasa and insas my top 2 in my portfolio.

On Feb 2026 if Insas is below 90 sen then Thong and PAC can collect all WC not already owned by them at 0.5 sen and then convert all the WC to insas. What will be Thong and PAC holding % of Insas then?

Posted by TheContrarian > Apr 20, 2024 8:26 PM | Report Abuse
Thong and PAC have 218 million shares and 112 million warrants. Do your own calculation. It's simple Maths

RI of RPS with free warrant is a way to reward shareholder and as a same time for Thong and PAC to hold the warrant as a defensive move against any attempt of hostile takeover.

Is 3iii saying those buying capA must be mad and silly gambler?

Value investing is about buying a stock at a sufficient discount to intrinsic value. Graham’s “Net Working Capital” or the “Net Net Working Capital” formulas can be used as preliminary screens to identify potentially undervalued stocks or deep value stocks.
>>>

Even when using the net working capital or net-net working capital, Benjamin Graham still demanded a margin of safety, buying only when the market price is at least 30% below these values.

Know what IBs analyst value capA ( A PN17 and insolvent company with negative billion in net current assets, negative billion equity and billion in debts)?

Why bother with all those white man formula? Dead or alive.

I once wrote:
Definition: Intrinsic value is the Present value of the investment of all the expected cash flow over the lifetime discounted at the appropriate discount rate.

Intrinsic value = (CF1/ (1+d)^1) + (CF2/(1+d)^2) + ----- +(CFn/(1+d)^n)

Where:
CF = Cash Flow in the Period
d = Discount rate
n = The period number
This Intrinsic value is actually a Discounted Cash Flow (DCF)
Example of intrinsic value of INSAS is then the Sum of DCF expected cash flow from varies business streams.
For INSAS assets rich case, it is my opinion that the liquid assets minus total liabilities should be added to this intrinsic value.

If only you care to find out what are the gross and net profit margin during construction and operation period you will know the answer.

FPSO Anna Nery achieved financial acceptance in May-23 and began generating lease income.
Currently, it still has 3 more FPSOs under construction.
FPSO Atlanta and FPSO Maria Quiteria will be delivered in year 2024 and FPSO Agogo will be delivered by Feb-26

Yinson FPSO business:
Construction period.
During contruction/conversion period huge capital outlet and revenue and profit classified under EPCIC

Operation period.
FPSO delivered to client hit oil and revenue from charter lease rental from client.

I3 do you know what are the gross and net profit margin during construction and operation period?

Is it good enough to know the past figures but omit the business and what will be the future figures?

What will be your figures look like in year 2025 when two FPSO in operation phase and 2026 when all the three FSPO in operation phase?

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ YINSON
From 2019 to 2023
It grew its sales from RM 1b to RM 6.3b.
Its net income grew from 235m to 452m.
Gross profit margins shrunk from 55% to 28.3%.
Net profit margins shrunk from 22.7% to 7.15%.

Comments: It grew its business hugely. However, profit margins have shrunk.
A great company has a gross profit margin of >40% or more.
A great company has a net profit margin of 10% or 20% or more.

Why had its profit margins shrunk?

Thong and PAC cannot buy any Insas share from open market without trigger the 33% MGO threshold.

So he is just a bystander watching insas share price up and down. Anyway whether the share price up or down do not affect him financially.

If Thong is smart he should table a MGO waiver for Insas to do SBB. By doing SBB automatically his and his PAC holding will increase beyond 33% and 4 year later might excess 50%

Any takevover by Thong will be a futile attemp because once the BOD appointed an independent advisor to advice shareholders to accept or reject the offer based on is the offer fair and reasonable.

The conclusion is forgone: offer is not fair and not reasonable and advise to reject the offer.

3iii,
Do you know park under non-current assets: one of the associate company inari is worth how much?

Substantial Shareholder's Particular:
Name INSAS BERHAD
Details of Changes:
Currency -
Date of Change Type Number of Shares
24-Jan-2024 Disposed 1,000,000
Registered Name M & A Nominee (Asing) Sdn Bhd for Media Lang Limited
Nature of Interest Indirect Interest
23-Jan-2024 Disposed 2,000,000
Registered Name M & A Nominee (Asing) Sdn Bhd for Media Lang Limited
Nature of Interest Indirect Interest
22-Jan-2024 Disposed 2,000,000
Registered Name M & A Nominee (Asing) Sdn Bhd for Media Lang Limited
Nature of Interest Indirect Interest
Nature of Interest Indirect Interest
Shares Ordinary shares
Reason Disposal of shares in the open market
Total no of securities after change
Direct (units) 0
Direct (%) 0.00
Indirect (units) 527,008,575
Indirect (%) 14.06
Total (units) 527,008,575
Total (%) 14.06
Date of Notice 26-Jan-2024


Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > Apr 20, 2024 12:21 PM | Report Abuse

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.

Quarter end 31 March 2024 with disposal of 100 million M&A and 10 million Inari, insas will have more cash.

By the way if you like high growth, high ROE then have a look at Yinson with high borrowing too.
Expect this year Yinson' two FSPO delivered and will hit oil, next year another FSPO delivered and hit oil.

I just wonder why Yinson is paying more than double the US 5 Year Treasury Rate of 4.68%?

Is Yinson cannot get a normal USD loan from bank with lower interest rate than 9.625% to refinance the matured borrowing?

SINGAPORE, April 19, 2024 /PRNewswire/ -- Yinson Production Offshore Pte. Ltd. ("Yinson Production") is pleased to announce the successful placement of a USD 500 million senior secured bond issue with a 5-year tenor and a fixed coupon of 9.625% per annum in the Nordic bond market.
Yinson is paying more than double the US 5 Year Treasury Rate of 4.68%. Why?

5 Year Treasury Rate is at 4.68%, compared to 4.62% the previous market day and 3.71% last year. This is higher than the long term average of 3.75%.

The 5 Year Treasury Rate is the yield received for investing in a US government issued treasury security that has a maturity of 5 years

TheContrarian.
Correction then
insas is the only stock in Bursa with single digit PE and where its market cap is below its net cash.

Insas already taking step of reverse take over (listing of M&A) to grow its stockbroking, IPO, RI, PP advisory, placement and etc services.

In time to come Insas will be a holding company of many subsidiary and associate companies.

Note: Associate companies do not contribute to revenue, it only contribute to share of profit (non cash flow) in P&L statement. But contributed cash inflow as dividend received under investment activities.

So may I ask 3iii do you value icapital by ROE?

Anyway I will make Jayatiasa and Insas top two in my portfolio as 3iii likes to find faults with both without even looking into detail of their financial account.

Know how much insas equity growth in 10 years period?
So if you retain the profit to grow the equity then a point will be reached where your ROE will be low.
It only mean insas did not employ it cash to grow the earning fast enough.

If only insas buy back its share for cancellation then the NAPS will increase automatically.

As I say before if only insas distribute the huge retained profit back to shareholders then the ROE will increase automatically.

Next week will put in q buy 0.99, 0.98, 0.97, 0.96 and 0.95 see whether any of them match.

I think insas is the only stock in Bursa where its market cap is below its net cash.
Most likely by next week able to collect some below 1.00 and then next month below 0.9

If Yinson reward shareholders with RI of 5 year RPS with interest of 9.625% per annum many shareholders would have fully taken up the RI.

Is Yinson cannot get a normal USD loan from bank with lower interest rate than 9.625% to refinance the matured borrowing?

Yinson is paying more than double the US 5 Year Treasury Rate of 4.68%. Why?

5 Year Treasury Rate is at 4.68%, compared to 4.62% the previous market day and 3.71% last year. This is higher than the long term average of 3.75%.

The 5 Year Treasury Rate is the yield received for investing in a US government issued treasury security that has a maturity of 5 years

Anyone can comment why Yinson need to pay so much interest of 9.625% per annum for the USD 500 million senior secured bond issue with a 5-year tenor?

SINGAPORE, April 19, 2024 /PRNewswire/ -- Yinson Production Offshore Pte. Ltd. ("Yinson Production") is pleased to announce the successful placement of a USD 500 million senior secured bond issue with a 5-year tenor and a fixed coupon of 9.625% per annum in the Nordic bond market.

CapA and Maxis also face many problems in India, why?
And now sendai big contracts in India and middle east. What will be the outcome?

The different way to exit PN17
1. Debts restructure where every creditors agreed to a certain% haircut
2. White knight inject in new capital for equity
3. Assets stripping to settle debts

The next buying will be below 1.00 and after next below 0.9

Bought some Insas and WC yesterday.

Just wonder why people wants to average down a hopeless PN17 capA?

Still The No. 1 Rule For Stock Market Investors: Always Cut Your Losses Short

Judo masters begin not by learning how to throw, but how to fall. They practice this skill until it's as natural as breathing. No matter how many times they're flipped, they can rise to fight again.

Highly successful stock pickers go through similar training: They must learn how to cut their losses short. This means selling a stock when it's down 7% or 8% from your purchase price.

Sounds simple, but many investors have learned the hard way how difficult it is to master the most important rule in investing.

No one wants to sell for a loss. It's an admission that you made a mistake. But if you can set your ego aside, you can take a small loss and still be fit enough, both financially and mentally, to invest the next day. Cutting losses quickly prevents you from suffering a devastating fall that's too steep to recover from.

https://klse.i3investor.com/blogs/kianweiaritcles/2024-04-16-story-h-183774477-China_s_growing_plastics_dominance_is_squeezing_out_Asian_rivals.jsp

FY2023
RM'000
Interest expense 28,508
Dividend received from Joint Venture company 27,386

A RM 250,000,000 10 year term loan mean principal payment per year is RM 25 million.
Jaks other business are lose making except the JV Vietnem power plant contributed RM 27,386,000 to jaks cash inflow for FY 2023.

So where jaks going to get the cash inflow to pay bank principal and interest payment for years to come? More RI and PP coming?

The question to ask after this PP will there be more PP or RI coming in year to come.

Repost:
Facility Bank Purpose of borrowing
Interest rate (% per annum)
Principal amount(RM’000)
Tenure
Total amount outstanding as at LPD(RM’000)
Proposed repayment(RM’000)
Term loan Great Eastern Term loan provided to part finance the development cost of a 4-storeyshopping mall known as Evolve Concept Mall
6.0 250,000 10 years 211,418 13,000

A RM 250,000,000 10 year term loan for evolve mall and current outstanding RM 211,418,000 is this mean jaks did not pay the principal sum as scheduled?

BOD of CapA is now come out to clarify that contrary to the report, there was no media interview conducted on March 4, 2024, with The Edge or any other entity.

So who is telling the true? Stony or theedgemalaysia?


OTHERS CAPITAL A BERHAD ("CAPITAL A" OR "THE COMPANY") CLARIFICATION ON NEWS ARTICLES FEATURED IN THE EDGE MALAYSIA ON 15 APRIL 2024
CAPITAL A BERHAD

Type Announcement
Subject OTHERS
Description CAPITAL A BERHAD ("CAPITAL A" OR "THE COMPANY")
CLARIFICATION ON NEWS ARTICLES FEATURED IN THE EDGE MALAYSIA ON 15 APRIL 2024
We refer to the news article titled “Capital A seeks private placement to raise up to US$400 mil, say sources” in The Edge for the week of 15 April 2024 to 21 April 2024.

The Company wishes to clarify that contrary to the report, there was no media interview conducted on March 4, 2024, with The Edge or any other entity.

We wish to inform the shareholders that Capital A currently does not have any intention to undertake a private placement of new ordinary shares in Capital A of up to USD400 million. However, the management is in the midst of exploring a potential fund-raising exercise by its aviation business. The evaluation is still in its preliminary stage and the Board of Directors has not been presented with firm proposal to deliberate on. Shareholders are advised not to speculate in the trading of shares of the Company.

The Company will update the shareholders if there is any material development of the above matter in accordance with the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.

The management intends to request The Edge to retract the report to ensure accurate representation.

This announcement is dated 15 April 2024.