Thong after exercising his warrants to cross 50% shareholding would increase total shares in issue beyond 900 million. Assuming an enlarged share capital of 1 billion shares, a special dividend of 35 sen would require payout of RM350 million and some cash is also required to redeem some preference shares. This is one reason why Insas is hoarding cash.

Recently the major shareholder of Eurospan made an Unconditional Mandatory General Offer at RM1.70. The offer closed last Friday. Today the Company announced a special dividend of 20 sen. I expect Thong to mirror this by first exercising sufficient warrants at 90 sen to cross 50% shareholding and launch an Unconditional Mandatory General Offer. As soon as the offer closed Insas would declare a special dividend of 35 sen to relieve Thong's personal financial burden.

Inari closed up 8 sen ...... Insas closed up how many sen? Huh, Insas closed down?

Dear John, how much cash balance in MPHBCap? SCR is paid out from the Company's cash balance, not a single sen from Surin. If the amount exceeds the Company's cash balance and the proceeds from the sale of investments it wouldn't get past the Board of Directors.

Posted by TheContrarian > 2024-03-01 19:04 | Report Abuse

Defense Minister is asking for a higher price from Sarawak of RM2.60 per share or else there's no approval. Those LTAT people who negotiated a price of RM2.40 have since resigned.

Price possibly RM2.60 ?????

We have entered into the second half of the year and Insas is still 26 sen off its peak in January. Ah Thong is so kind to keep price down for almost 6 months in order for more retailers to buy at super duper discount price. Buy next week at 1.09 or buy the warrants below 30 sen AND exercise them.

Someone brilliantly exercise 5,000 warrants. Must be Leno.

Sold balance of Affin at 2.59.

SBL = Securities Borrowing & Lending
For short selling, the short seller needs to borrow the securities (shares) from a lender.

Took some profit at 0.515.

Ah Thong is such a kind hearted boss; he continues to keep Insas share price down so that more people gets to buy cheaply. Long life to such a kind boss.

Good that Insas hasn't moved, everyone can buy cheaply and one day will hit 60 ringgit.

Go, go, go Mycron.

Wonderful closing.

Bought at 1.07 today.

Auditors tendered resignation.

Took further profits at 2.48.

BEA merely selling some of the shares received from the DRP which was issued at issuing price of RM2.176.

Bought first time at RM1 today.

If there's no longer any 10% minorities left to oppose the SCR then Surin wins.

@Sslee, good luck to you.

Insas closed in the red again. Which brainless people sold Insas today?

Time extension will bleed the minority shareholders.

@UncleFollower, we are merely trying to warn people who holds Insas that this stock is a value trap.

Dear John, GO and SCR are different. In a SCR, even if you vote "No" your shares could still be forcibly acquired.

Insas closed down 2 sen, whole day mostly in the red, not even one second green. Which brainless people sold 6.1 million shares today?

Microlink

No point talking science fiction in the forum, you can't make money in the stock market talking and thinking like this. After having sold ALL my Insas I channelled the sales proceeds into Mycron, KPS and Eksons and sold part of these stocks this month for further gains. Be a contrarian and make money not a science fiction time traveller.

Disclosure : I have already sold off ALL my Insas and made a four fold gain but I may buy back Insas. 😁😁😁

Leno still stuck in Insas 15 years 5 months already. 🤣🤣🤣

Many stocks prices have risen over the past week but pity Insas which actually fell 5 sen from a week ago.

Buy 4 warrants also will get 3 bonus warrants and warrant exercise price will be revised downwards.

Bought Engtex-WB at 41.5 sen.

The big boss died already.

Insas will continue to be a very "gruesome" company until Thong crosses 50% shareholding.

The Chinese owns the Kazakhstan oil concession directly 40% while Reach Energy owns the balance 60%. The oil is plentiful there but the problem is extracting the oil. Huge impairment has already been made to write down the cost of plant and equipment. Now we need to wait for the turnaround or disposal of the whole concession.

Aah, another water fish joins the forum.

Took some profits on Affin at 2.49.

Sarawak ministers a lot of hot air, hahaha.

Have you guys heard that Insas will be making a MGO on DFX shares at 50 sen?

Has an EGM been convened to approve the "innovative dividend" ?

Thong needs to acquire sufficient Insas-WC in order to be able to cross 50% and render the MGO unconditional. And Thong can stealthily accumulate Insas-WC without having to report any purchases since he isn't a director of Insas.

Posted by Sslee > 2 hours ago | Report Abuse

Insas BOD decided to take profit on Inari as most insas shareholders want Insas to take profit. So no complaint from me when Insas sold some Inari shares to report a good quarter result.

The problems is I cannot understand why Insas BOD hold such a large cash hoard of over RM 1 billion?


Insas is hoarding cash for the big, special dividend of 35 sen after Thong exercises his warrants and crossing 50% shareholding.

Insas sells bits of Inari every quarter to book some gains, this has been expected. They probably sold some Inari shares yesterday as well.

Last quarter lower selling price of Inari shares.

Insas selling of bits of Inari is immaterial to the minorities. Insas share price will continue to be manipulated and suppressed.

When they consolidate the results at Insas Bhd level the group cost should be around RM0.736.

Insas' gain on disposal of 8.5 million Inari shares probably RM25 million.

Abang Jo has been told by Bank Negara to shut up and since then Abang Jo hasn't mentioned Affin.

As expected Insas sold Inari shares this week, 8.5 million in total.