Stock [JAKS]: JAKS RESOURCES BERHAD
Announcement Date 23-Mar-2017
Listing Date 24-Mar-2017
New type/class? No
Type Private Placement
Details PRIVATE PLACEMENT OF UP TO 43,836,100 NEW ORDINARY SHARES OF JRB REPRESENTING APPROXIMATELY 10% OF TOTAL NUMBER OF ISSUES SHARES OF JRB
No. of shares issued 43,836,100
Issue Price Malaysian Ringgit (MYR) 1.360
Par Value Malaysian Ringgit (MYR) 0.000
Total NOSH 482,197,172

The question:
How many LTIP free grants?

Stock [M&A]: M & A EQUITY HOLDINGS BERHAD
Announcement Date 18-Jan-2024
Reference No CS2-16012024-00066
Substantial Shareholder's Particular:
Name INSAS BERHAD
Details of Changes:
Currency -
Date of Change Type Number of Shares
15-Jan-2024 Disposed 85,770,000
Registered Name Insas Plaza Sdn Bhd
Nature of Interest Deemed Interest
15-Jan-2024 Disposed 14,230,000
Registered Name M & A Nominee (Asing) Sdn. Bhd. Montego Assets Limited
Nature of Interest Deemed Interest
Nature of Interest Deemed Interest
Shares Ordinary Shares
Reason Disposal of Equity Interest via Direct Business Transaction.

Total no of securities after change
Direct (units) 1,009,090,909
Direct (%) 50.49
Indirect (units) 106,627,756
Indirect (%) 5.34
Total (units) 1,115,718,665
Total (%) 55.83
Date of Notice 18-Jan-2024

The 100 million M&A shares disposal is to increase bumiputra holding in M&A. A relationship building to further expand M&A into diversified financial services group.

In October 2023, M&A Equity has signed a Sale & Purchase Agreement to acquire 75% equity interest in Value Partners Asset Management Malaysia Sdn Bhd, a licensed fund management company in Malaysia for a total cash consideration of RM2.75 million. The proposed acquisition will provide opportunity for M&A Equity to add on to its stockbroking, corporate finance & related businesses of M&A Securities to become a full fledge financial services provider. The proposed acquisition is pending approval of the relevant regulatory authority

Quarter end 31/03/2024:
In P&L statement other incomes will included
Gain on disposal of associate company share (10 million Inari shares):RM
Gain on disposal of subsidiary company shares (100 million M&A shares): RM

In P&L statement you record the share of profit of associate companies and that too will be taken out from operating cash flow.

Only dividend received from associate companies will be recorded in Cash flows from investing activities as dividend received

In Balance Sheet you only record equity accounting of associate companies and not the mark to market shares price of associate companies.

As at 30/9/2023
Insas
Non-current assets
Associate companies: RM 576,101,000
Note: The mark to market shares price of Inari alone is worth many time of equity accounting of associate companies RM 576,101,000

Please know the different Jaks RI is collecting free money from shareholders.

Insas RI of RPS is borrowing money from shareholders with interest payment and redeem at maturity date, and the free warrants to reward shareholders.

Jaks built the LSS4 at the very high cost (solar panel at that time was high) and bid at very low power selling price. Interesting to see whether 3 months end 31 Dec 2023 Jaks made any profit from LSS4.

By the way jaks cannot bid for any new project because jaks do not has any money unless another round of PP and RI.

The most what ALP can do is collecting MOU.

Maybank Investment Bank (Maybank IB) research has reaffirmed a "buy" call on AAX with a lower target price of RM3.40 (previously RM3.56).

The research house said the group's 3QFY2023 results were disappointing due to higher-than-expected jet fuel prices, which have since eased substantially.

However, Maybank IB expects fares to peak in the upcoming 4Q2023 and contribution from its associate Thai AirAsia X (TAAX) to improve starting next year.

AAX recorded a net profit of RM5.56 million for the third quarter ended September 30, 2023 (3QFY2023), marking the group's exit from PN17 classification.

China is so big with many history and beautiful places to visit.
Why should they go oversea to seesighting?
It is more beneficial and interesting to do seesighting in their own country

qqq3,
RPS (with 3.8 % interest) is not free money plans because Insas need to pay yearly interest of 3.8% and at the maturity date redeem the RPS.

After that Insas can then have another RI of RPS (with X.X% interest) and free warrants Insas-WD to reward the shareholders again.

RPS (with 3.8 % interest) is a form of borrowing money from shareholders and free warrants are to reward the shareholders who have confident with Insas and subscribe the RI entitlement with XX excess application.

I had bought and sold all my Insas-WC twice with very handsome gain. So no complaint from me and hope to do it again if opportunity arrive again.

My AGM question.
Return of Equity (%): FY2023 a poor 5.2% is not the fault of Insas Management Team but mainly due to BOD keep too much retained earnings (Equity keep growing) and hence will BOD kindly rectify the imbalance by distributing portion of the retained earnings to shareholders in the form of
special dividend?

https://klse.i3investor.com/blogs/Sslee_blog/2019-02-15-story-h1457041931-A_satire_glimpse_into_I3investment_Bloggers_Day_2024.jsp

A satire glimpse into I3investment Bloggers Day 2024
Author: Sslee | Publish date: Fri, 15 Feb 2019, 7:58 PM

Above what I wrote 5 years ago:
I can only hope by end of 2024 to acheive investment portfolio of RM 5 million half of ambitious RM 10 million.

Sslee
Train as a Chemical Engineer. An investment novice when he first tries his luck in stocks investment in year 2016. Lose his hard earned money in Xingquan. Start learning investment from all the Sifu in I3investor especially Kcchong.

A cute and weird fella. An activist shareholder: encouraging and putting pressure on management at AGM to increase shareholder value through change in dividend policy, corporate policy, governance, transparency and accountability. A very kind and forgiven person believe in human kindness and share effort and destiny for common good. His favorite quote:

“To err is human, to forgive divine” - Alexander Pope
“Everybody deserves a second chance, because life is too complicated to get it right the first time” - SkyLug.
“Everyone should be respected as an individual, but no one idolized.” – Albert Einstein
His Topic: How I turned from a novice investor into a late bloomer by learning and adapting all the I3investor Sifu’s successful methodology and now have a personal investment portfolio of RM 10 million. (Include: HLeBroking portfolio printout as prove of ownership)

At the end of last year my account and shares with Hlebroking total RM 3,607,457.80

All dividend directly paid into my Maybank account for family expenses managed by my wife.

Last year I need to move my fund to Petronm then to MBMR to acheive dividend of RM 200K+.

I can only wish if Insas give a better dividend then I do not need to move the fund around.

After already sold 60% now I have new problem what stocks to buy next, my aim for 2024 is at least collecting dividend of RM200k+.

I expect a 2 sen dividend from jayatiasa when quarter end 31 Dec 2023 financial result is out in end Feb 2024.

If only Insas pay better dividend then most likely Market will value Insas as Bank FD.
A 10 sen dividend with FD rate of 3% will be value as RM 0.1/0.03 = RM 3.33

Income The problem is, I haven't seen anyone out there properly explain what's really going on – and what you need to do to prepare for it.
31/01/2024 11:00 AM

Allow me to explain the problem with Insas:
Market do not care Insas have
FD: RM 938,066,000
Cash and bank balances:RM 154,302,000
Associate company 527,008,575 Inari shares and subsidiary company 1,115,718,665 M&A shares.
Financial assets at fair value through profit or loss RM 228,481,000
Trade receivables: RM 517,332,000 of which RM 282,235,000 is loans receivables by Insas Credit & Leasing Sdn Bhd
Or
NAPS: RM 3.56
Market only value Insas as forward PE 5 to 10X.

Insas need to employ its cash hoard into new business/investment to generate more earning or else Insas will be forever a value trap.

Eagerly waiting what will be jaks impairment loss for quarter end 31 Dec 2023?

KUALA LUMPUR(Jan 31): Reneuco Bhd's share price took a downward turn on Wednesday morning, dropping to a historic low of 10 sen as the renewable energy specialist faced the risk of suspension due to the failure to submit its annual report on time.

The group reported a net loss of RM125.05 million in the July-to-September 2023 quarter, with revenues amounting to RM4.57 million. The loss was primarily attributed to an impairment of RM132.53 million.

By the way Insas in this month sold 10 million Inari shares and 100 million M&A shares. Will increase the cash hoard by about another RM 60+ million.

Posted by observatory > Jan 30, 2024 11:20 PM | Report Abuse
Some businesses do sell at a premium over its book value. Think of Heineken, Carlsberg, Nestle. The businesses have competitive advantages in the form of brands, product portfolios, distribution network and so on.

But for a fund like ICAP, what competitive advantages does it have? It’s just a collection of other company shares and bank FDs

Agreed with observatory,
Allow me to explain on my observation:
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)

Hence people only look into the forward cash flow or PE multiple in valuation
Example:
CapA's aviation:
Kenanga Research values Capital A’s airline assets at RM2.5 billion based on 10 times the group’s forward price-earnings ratio (PER) for the financial year ending Dec 31, 2024 (FY2024).

Maybank IB Research’s Yin ascribed a much higher valuation of RM5.47 billion, or 91 sen per share based on a forward PER (FY2024) of eight times.
And totally ignore the RM 10 billion+ net liabilities in the book.

Similarly people value Insas as forward PE 5 to 10 X and totally ignore Insas:
FD: RM 938,066,000
Cash and bank balances:RM 154,302,000
Associate company 527,008,575 Inari shares and subsidiary company 1,115,718,665 M&A shares.
Financial assets at fair value through profit or loss RM 228,481,000
Trade receivables: RM 517,332,000 of which RM 282,235,000 is loans receivables by Insas Credit & Leasing Sdn Bhd
Or
NAPS: RM 3.56

Hence in order to win big in share market you need to look for company with sudden growth catalyst that will increase the forward earning multifolds, a multibagger stock in the making (case in point Ytlpower)

Or
Growth stock that show yearly revenue and earning increase.

PS: Insas need to employ its cash hoard into new business/investment to generate more earning or else Insas will be forever a value trap.

Jaks and capA is not a value trap but a booby trap set up by ALP and Stony to trap newbie and old bird.

Leno already value trap in Insas for 15 years and leno holding increase from a few hundrend thoudsand to a few million and will be a few hundrend million in another 15 years time.

I do not need a fund manager to tell me the best opportunity is to buy during market crash. That one everyone already know. But please tell me when will market crash?

Are you going to forever waiting for market crash to employ your cash?

Did anyone make a study what type of stock TTB bought for icap?

Six types of stocks of Peter Lynch
Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ at Jan 9, 2024 3:30 PM | Report Abuse
Growers:
Slow growers
Stalwarts
Fast growers

Cyclicals
Asset plays
Turnarounds


Please share one name of your stock and which category it belongs to. A stock can belong to one or more categories

TheContrarian,
Any other stocks worth buying. My cash is still in my trading account and still searching what to buy next.

I trade armada and even jaks for my free bintang beer and lobster. Only someone sooooo dumb to dumb dumb hold jaks and capA.

So if you want to win big in stock market go and find those stocks that have sudden profit growth catalyst. (Case in point ytlpower)

Yes
The only way to unlock insas value is to use the RM 1 billion cash to invest in new business and generate more income and net profit.

Posted by 无风不起浪，洞察不寻常 > Jan 30, 2024 10:14 AM | Report Abuse
如果把梦做得深，Insas 有本事物色得国际顶级 AI 公司 ，合伙成立一家能够大事发展的科技生意，才有足够足使股价推上几倍以上。

The problems is because the white man and the book say:

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)

Hence people only look into the forward cash flow or PE and value CapA aviation:
Kenanga Research values Capital A’s airline assets at RM2.5 billion based on 10 times the group’s forward price-earnings ratio (PER) for the financial year ending Dec 31, 2024 (FY2024).

Maybank IB Research’s Yin ascribed a much higher valuation of RM5.47 billion, or 91 sen per share based on a forward PER (FY2024) of eight times.

And totaly ignore the RM 10 billion liabilities in the book.

Similarly people value Insas as forward PE 5 to 10 X and totally ignore the RM 1 billion+ cash in the book.

Yes be humble and humility.
No wrong if you want to timing your enter to the market. I remember watching in horror my book loss during 2020 when bursa index drop to it low point and I can only wish I have spare cash to grab so many cheap stocks in offer.

DS Thong, his brother and their familly members officiay hold 32.96%.
Thus Insas cannot do SBB without trigger the 33% MGO threshold

Dato' Wong and Dato' Dr Tan are dierector of Insas and also common director on some of insas unlisted Sdn Bhd companies with DS Thong.

Both are in a grey area whether they are considered as PAC of DS Thong hence they restrict themselves from buying more Insas.

Insas do not need the cash call RI with free warrants. DS Thong used the warrants as addition check pieces in safeguarding his interest in Insas.

As minority shareholders we can't do much except take some profit when Insas share spike up.

If you intent to do somethings for minority shareholders then you need to accumulate 5% as substantial shareholder and make you intention clear to DS Thong.

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : INTENTION TO DEAL DURING CLOSED PERIOD
INSAS BERHAD

Subject Intention to Deal During Closed Period

No Salutation Name Designation Description Of "Others" Designation
1 DATO' Wong Gian Kui Others Chief Executive Officer / Executive Director
Nature of Interest Direct Interest
Description of Securities Ordinary Shares
No of Securities Held 462,160
% of Securities Held 0.070
2 DATO' Wong Gian Kui Others Chief Executive Officer / Executive Director
Nature of Interest Indirect Interest
Description of Securities Ordinary Shares
No of Securities Held 136,000
% of Securities Held 0.020
3 DATO' DR Tan Seng Chuan Executive Director
Nature of Interest Direct Interest
Description of Securities Ordinary Shares
No of Securities Held 350,000
% of Securities Held 0.050
4 DATO' Wong Gian Kui Others Chief Executive Officer / Executive Director
Nature of Interest Direct Interest
Description of Securities Redeemable Preference Shares
No of Securities Held 712,900
% of Securities Held 0.540
5 DATO' Wong Gian Kui Others Chief Executive Officer / Executive Director
Nature of Interest Indirect Interest
Description of Securities Redeemable Preference Shares
No of Securities Held 119,800
% of Securities Held 0.090
6 DATO' DR Tan Seng Chuan Executive Director
Nature of Interest Direct Interest
Description of Securities Redeemable Preference Shares
No of Securities Held 132,600
% of Securities Held 0.100
7 DATO' Wong Gian Kui Others Chief Executive Officer / Executive Director
Nature of Interest Direct Interest
Description of Securities Warrants 2021/2026
No of Securities Held 1,782,250
% of Securities Held 0.540
8 DATO' Wong Gian Kui Others Chief Executive Officer / Executive Director
Nature of Interest Indirect Interest
Description of Securities Warrants 2021/2026
No of Securities Held 299,500
% of Securities Held 0.090
9 DATO' DR Tan Seng Chuan Executive Director
Nature of Interest Direct Interest
Description of Securities Warrants 2021/2026
No of Securities Held 0
% of Securities Held 0.000


Announcement Info
Company Name INSAS BERHAD
Stock Name INSAS
Date Announced 26 Jan 2024
Category Dealings in Listed Securities (Chapter 14 of Listing Requirements)
Reference Number DLR-20102023-00037

Posted by The_JQuestion > Jan 29, 2024 7:22 PM | Report Abuse
at this point... sell aax and buy CAP A more worth !!!

The_JQuestion has a point. If CapA success in diposing capA aviation to AAX, most likely AAX will pay capA in AAX shares.
CapA will then distribute AAX shares to capA shareholders.

DS Thong will be very happy counting more cash and bank deposits. And when he is happy most likely he will give more dividend.

M&A is still a subsidiary of Insas and Inari is still an associate company of Insas hence no marked to market the balance shares still in hand.

With over RM 1 billion cash and bank deposits, Insas' BOD had been looking for various investment opportunities to employ it's cash to generate incomes with the aim of improving returns to equity & enhance shareholder value.

Insas CEO Dato' Wong even ask me whether any investment opportunities in Indonesia?

Anyone who owned SME business are welcome to contact Dato' Wong for business expansion, capital injection and JV.

Notably, Insas’ 14.4% stake in another company, Inari, alone is worth RM1.7bil, based on the price of RM3.15 per Inari share on Jan 14.

The star reporter miss out on Insas cash and bank deposits of over RM 1 billion in the Balance Sheet and Insas had been contantly grow it net worth from RM 1,198,048,000 in 30/6/2014 to RM 2,340,464,000 in 30/6/2023.

Philip used to say it will take months for me to sell my Insas. Thanks to theedge Tong the volume is a few millions per day, can sell easily.

Recent Prices
Date Open Range Close Change Volume
29/01/2024 1.29 1.20 - 1.29 1.21 -0.06 (4.72%) 6,654,000
26/01/2024 1.27 1.26 - 1.31 1.27 +0.01 (0.79%) 4,879,100
24/01/2024 1.27 1.21 - 1.30 1.26 -0.01 (0.79%) 8,142,900
23/01/2024 1.28 1.26 - 1.35 1.27 -0.02 (1.55%) 11,771,900
22/01/2024 1.19 1.19 - 1.30 1.29 +0.10 (8.40%) 11,401,100
19/01/2024 1.16 1.15 - 1.21 1.19 +0.03 (2.59%) 6,575,700
18/01/2024 1.20 1.12 - 1.22 1.16 -0.04 (3.33%) 9,789,000
17/01/2024 1.22 1.17 - 1.25 1.20 -0.01 (0.83%) 8,163,500
16/01/2024 1.20 1.16 - 1.32 1.21 +0.01 (0.83%) 32,647,400
15/01/2024 0.995 0.995 - 1.26 1.20 +0.205 (20.60%) 41,649,800
12/01/2024 0.955 0.945 - 1.01 0.995 +0.035 (3.65%) 4,084,700
11/01/2024 0.92 0.915 - 0.97 0.96 +0.045 (4.92%) 4,277,600
10/01/2024 0.91 0.91 - 0.925 0.915 +0.005 (0.55%) 526,400
09/01/2024 0.915 0.91 - 0.92 0.91 +0.005 (0.55%) 687,400
08/01/2024 0.91 0.905 - 0.915 0.905 -0.005 (0.55%) 393,500
05/01/2024 0.89 0.89 - 0.91 0.91 +0.015 (1.68%) 812,900
04/01/2024 0.895 0.89 - 0.90 0.895 +0.005 (0.56%) 188,600
03/01/2024 0.90 0.89 - 0.90 0.89 -0.005 (0.56%) 153,100
02/01/2024 0.90 0.89 - 0.905 0.895 0.00 (0.00%) 154,500

Thank you @LammPah, TheContarian and i3lurker,
I already sold all my Insas-WC (the second time I did so with some X gain) as Insas already 60% sold will still sell some slowly

@LammPah how many Xs you make from Insas?

TheContrarian already knew long ago it is a cycle that is why he able to make 5X in 10 years.

It was leno who told DS Thong not to do (dividend and SBB)

The only value shareholders want is a special divided and share buy back.

Leno do not wants dividend and SBB.

One of the question and answer during Insas 61th AGM.

Question: Y.A.M. Tengku Aishah, Dato’ Wong and Dato’ Dr Tan have declared that they are not persons acting in concert with Dato’ Sri Thong Kok Khee.

Since Y.A.M. Tengku Aishah, Dato’ Wong and Dato’ Dr Tan have declared that they are not persons acting in concert with Dato’ Sri Thong Kok Khee. Will Y.A.M. Tengku Aishah, Dato’ Wong and Dato’ Dr Tan please kindly give support to Insas by buying more Insas shares from the open market?

Answer: The Board is of the view that it is not appropriate to comment on this matter as this is the personal investment decision of each director, but we can confirm that the directors will objectively discharge their fiduciary duties and responsibilities at their best knowledge, ability and belief, and will always act with integrity in the best interest of the Company.

JAKARTA -Businesses have requested the government grant direct approval of nearly a century in land rights for investments made in the country’s future capital city, Nusantara, which experts perceived as a sign of the private sector’s reluctance to invest in such a high-risk project.

The 2023 National Capital City (IKN) Law allows 95-year land rights in the form of the right to cultivate (HGU) but to be obtained in stages, with the first only granted for 35 years then extended for another 25 years and another 35 years separately. Each renewal requires firms to pass evaluations by the government.

Akin to the HGU, these renewal stages also apply to right-to-build (HGB) permits, which could span for 80 years.

The law also makes it possible for both HGU and HGB permits to be extendable by the same period, granting land rights up to 190 years and 180 years, respectively.

Sanny Iskandar, vice chairman of the Indonesian Employers Association (Apindo) put forward the idea that granting a direct leasehold for 80 straight years would not only offer greater legal certainty to prospective investors, but also make financing the project “more appealing” and “more bankable”.

“We hope [permits] can be granted straightaway once businesspeople demonstrate their willingness to materialize development investments within a certain period of time,” Sanny told reporters in a press conference in Jakarta on Oct. 12.

At an estimated overall cost of Rp 466 trillion (US$30 billion), the success of the Nusantara megaproject development hinges on 80 percent private sector funding, with the state shouldering just 20 percent of the cost.

Insas should stay above RM 1 as long as Inari stay above RM3. The reason is if Inari at above RM 3 Insas can sell some Inari shares to report big gain on disposal of associate company shares.

By the way insas BOD is looking into various investment opportunities to enhance returns to equity & enhance shareholder value.

In Singapore, the most common leasehold term is 99 years. Thus, upon expiration at 99 years, the property's value becomes zero, and the property ownership returns to the state.

Land Rights and Titles in Indonesia
1. Right to Cultivate (Hak Guna Usaha)

Right to Cultivate allows you to cultivate lands for fishing, livestock, and farming. The State government controls these lands for Right to Cultivate.

All Indonesian legal entities and individuals can obtain Right to Cultivate. The permit’s validity is 35 years for Indonesian legal entities and 25 years for individuals. This permit is extendable for another 25 years.