A DEEPER LOOK AT INSAS BERHAD. IS IT REALLY WORTH RM3.00 ACCORDING TO LENO?, Calvin Tan Research

July 27, 2018 By Calvin Tan Smart Investment

Hi guys,

Is INSAS BHD really worth Rm3.00 according to Leno

See

 

Stock: [INSAS]: INSAS BHD

 Jun 6, 2018 03:07 PM Report Abuse 

 

Stock: [INSAS]: INSAS BHD

 Jul 25, 2018 10:22 AM Report Abuse 

LET US FIND OUT THE TRUTH

 

1) INSAS IS TOP HOLDER OF INARI SHARES

Plesae go to Bursa Saham Website. AR OF INSAS BHD & scroll down to Top 30 Substantial Holders

 

THIRTY LARGEST SHAREHOLDERS (Without aggregating the shares from different securities accounts belonging to the same depositor) NO. NAME NO. OF SHARES %

1 INSAS TECHNOLOGY BERHAD 216,846,250 10.73

2 KUMPULAN WANG PERSARAAN (DIPERBADANKAN) 138,983,700 6.88

3 MALAYSIA NOMINEES (TEMPATAN) SENDIRIAN BERHAD PLEDGED SECURITIES ACCOUNT FOR INSAS TECHNOLOGY BERHAD (01-00847-000) 56,000,000 2.77

4 CITIGROUP NOMINEES (TEMPATAN) SDN BHD EMPLOYEES PROVIDENT FUND BOARD 48,006,850 2.38

5 DB (MALAYSIA) NOMINEE (ASING) SDN BHD BNYM SA/NV FOR ROCHDALE EMERGING MARKETS PORTFOLIO 40,314,879 2.00

6 HSBC NOMINEES (ASING) SDN BHD HSBC BK PLC FOR SAUDI ARABIAN MONETARY AUTHORITY 38,673,342 1.91

7 HO PHON GUAN 32,133,752 1.59

8 CARTABAN NOMINEES (TEMPATAN) SDN BHD PAMB FOR PRULINK EQUITY FUND 30,585,800 1.51

9 UOBM NOMINEES (TEMPATAN) SDN BHD PLEDGED SECURITIES ACCOUNT FOR INSAS TECHNOLOGY BHD 30,000,000 1.49

10 PERMODALAN NASIONAL BERHAD 27,735,700 1.37

11 ALLIANCEGROUP NOMINEES (TEMPATAN) SDN BHD PLEDGED SECURITIES ACCOUNT FOR INSAS PLAZA SDN BHD (6000068) 25,000,000 1.24

12 AMANAHRAYA TRUSTEES BERHAD PUBLIC ISLAMIC SELECT TREASURES FUND 24,897,400 1.23

13 CITIGROUP NOMINEES (TEMPATAN) SDN BHD EMPLOYEES PROVIDENT FUND BOARD (NOMURA) 24,300,000 1.20

14 M & A NOMINEE (ASING) SDN BHD FOR WANG RICHARD TA-CHUNG 24,082,256 1.19

15 MAYBANK NOMINEES (TEMPATAN) SDN BHD MAYBANK TRUSTEES BERHAD FOR PUBLIC REGULAR SAVINGS FUND (N14011940100) 22,576,200 1.12

16 HSBC NOMINEES (ASING) SDN BHD BBH AND CO BOSTON FOR VANGUARD EMERGING MARKETS STOCK INDEX FUND 21,895,900 1.08

17 CITIGROUP NOMINEES (ASING) SDN BHD EXEMPT AN FOR CITIBANK NEW YORK (NORGES BANK 14) 20,058,752 0.99

18 UOBM NOMINEES (TEMPATAN) SDN BHD PLEDGED SECURITIES ACCOUNT FOR INSAS TECHNOLOGY BERHAD 20,000,000 0.99

19 TOKIO MARINE LIFE INSURANCE MALAYSIA BHD AS BENEFICIAL OWNER (PF) 18,744,200 0.93

20 CARTABAN NOMINEES (ASING) SDN BHD EXEMPT AN FOR STATE STREET BANK & TRUST COMPANY (WEST CLT OD67) 18,507,502 0.92

21 AMSEC NOMINEES (TEMPATAN) SDN BHD PLEDGED SECURITIES ACCOUNT – AMBANK (M) BERHAD FOR INSAS PLAZA SDN BHD 18,334,000 0.91

22 AMANAHRAYA TRUSTEES BERHAD PUBLIC ISLAMIC OPPORTUNITIES FUND 18,240,750 0.90

23 HSBC NOMINEES (ASING) SDN BHD JPMCB NA FOR VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND 16,557,950 0.82

24 CITIGROUP NOMINEES (ASING) SDN BHD CBNY FOR EMERGING MARKET CORE EQUITY PORTFOLIO DFA INVESTMENT DIMENSIONS GROUP INC 15,904,688 0.79

25 INSAS PLAZA SDN BHD 12,720,050 0.63

26 UOBM NOMINEES (TEMPATAN) SDN BHD PLEDGED SECURITIES ACCOUNT FOR INSAS PLAZA SDN BHD12,500,000 0.62

27 HSBC NOMINEES (ASING) SDN BHD DZ PRIVATBANK FOR QUONIAM FUNDS SELECTION SICAV-EMERGING MARKETS EQUITIES MINRISK 11,920,410 0.59

28 HSBC NOMINEES (ASING) SDN BHD EXEMPT AN FOR SKANDINAVISKA ENSKILDA BANKEN AB (UCITS V SWEDISH) 11,450,224 0.57

29 AMSEC NOMINEES (TEMPATAN) SDN BHD MTRUSTEE BERHAD FOR CIMB ISLAMIC DALI EQUITY GROWTH FUND (UT-CIMB-DALI) 11,287,500 0.56

30 M & A NOMINEE (ASING) SDN BHD FOR MEDIA LANG LIMITED 11,011,000 0.55

AS WE CAN SEE INSAS IS IN TOP 1, 3, 9, 11, 18, 21,  25 & 26 POSITIONS WITH A TOTAL OF 391,400,300 INARI SHARES

BUT LOOK AGAIN

 

ON MARCH 30 2018 INARI OFFERED 2 FOR 1 BONUS ISSUE OF INARI SHARES

SO

373,066,300 INARI SHARES X1.5 = 587,100,450 INARI SHARES

 

FROM HERE WE CAN SEE THAT INSAS OWNS A TOTAL OF 587,100,450 MILLIONS OF INARI SHARES

 

THE CURRENT SHARE PRICE OF INARI IS RM2.44 A SHARE

 

So 587,100.450 X 2,440 =  BILLIONS

 

WOW IN INARI ALONE INSAS HAS A WHOPPING RM1.432 BILLIONS WORTH OF CASH EQIVALENT!!

 

Stock: [INSAS]: INSAS BHD

 Jun 6, 2018 03:07 PM Report Abuse 

THE TOTAL PAID UP CAPITAL OF INSAS IS 663,006,342 (ABOUT 663.006 MILLION SHARES)

 

HOW MUCH CASH EQIVALENT PER SHARE?

 

SO DIVIDE 1,432 billions  BY 663006342 = RM2.16  A SHARE (WOWEE!!)

 

JUST IN INARI SHARES ALONE INSAS HAS RM2.16!  HUHUHU! EUREKA!!

 

 

2) At 90 Sen with NTA of Rm2.47 at Huge 64% Discount to NTA. More than twice the margin of safety Ben Graham required at 30%

 

  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
31 Mar 2018

INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31 Mar 2018
31 Mar 2017
31 Mar 2018
31 Mar 2017
$$’000
$$’000
$$’000
$$’000
1 Revenue
76,459
113,838
263,138
236,393
2 Profit/(loss) before tax
10,698
68,001
91,606
152,398
3 Profit/(loss) for the period
7,893
66,051
83,369
145,654
4 Profit/(loss) attributable to ordinary equity holders of the parent
7,930
66,204
83,579
146,097
5 Basic earnings/(loss) per share (Subunit)
1.20
9.99
12.61
22.04
6 Proposed/Declared dividend per share (Subunit)
0.00
0.00
1.00
1.00
AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7 Net assets per share attributable to ordinary equity holders of the parent ($$)
2.4700
2.3400
Definition of Subunit:In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:3) A CHECK WITH INSAS NET NET ASSETS REVEAL PRIME PRIME PROPERTIES OF GREAT VALUE

See for example

iINSAS OWNS 10 STOREY BUILDING IN IPOH CITY WORTH OVER RM12 MILLIONS

SHOPHOUSES IN PJ, MID VALLEY AND ALSO IN SINGAPORE

SURPRINGLY INSAS IS ALSO A DEVELOPER AND IT HAS 130 ACRES OF FREEHOLD LANDS IN BKT TINGGI

VALUED AT ONLY RM38 MILLIONS

ARE THESE LANDS UNDERVALUE?

 

So RM38,000,000 divides by 130 acres = Rm292,307 per acre

and per sq ft? Divides by 43,560 = Rm6.7 sen psf for freehold lands in bkt tingggi. THAT’S CHEAP!

IN BKT TINGGI FREEHOLD LANDS ARE NOW SELLING AT LEAST MORE THAN RM10 PSF to RM25 PSF

SO IF ASSETS OF INSAS ARE REVALUED THE NTA SHOULD CROSS RM3.00

NO WONDER LENA SHOUTED

 

Stock: [INSAS]: INSAS BHD

 Jun 6, 2018 03:07 PM Report Abuse 

Comments (2)

  1. Howdy! This is my 1st commnent heree so I just wanted too
    give a quick shout out and say I really enjoy reading through your blog posts.
    Can you suggest any other blogs/websites/forums thatt ddeal with the same topics?
    Appreciate it!

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