【INSAS 3379 交流专区】英莎

icy97

Type	Announcement
Subject	OTHERS
Description	INSAS BERHAD (“INSAS” OR “THE COMPANY”) PROPOSED ACQUISITION OF SUBSIDIARY - ECI COMMUNICATIONS SDN BHD
Please refer details of the announcement in the attached file. http://www.bursamalaysia.com/market/listed-companies/company-announcements/1848785

Attachments Announcement - J&C in ECI Comm.pdf

icy97

INSAS BERHAD

EX-date	23/01/2015
Entitlement date	27/01/2015
Entitlement time	04:00:00 PM
Entitlement subject	Interim Dividend
Entitlement description	Interim single tier dividend of 1.0 sen per ordinary share of RM1.00 each
Period of interest payment	to
Financial Year End	30/06/2015
Share transfer book & register of members will be	to closed from (both dates inclusive) for the purpose of determining the entitlements
Registrar's name ,address, telephone no	Megapolitan Management Services Sdn Bhd No. 45-5 The Boulevard, Mid Valley City Lingkaran Syed Putra, 59200 Kuala Lumpur Tel No. 03-2284 8311
Payment date	25/02/2015
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	27/01/2015
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.01

icy97

EX-date	23/01/2015
Entitlement date	27/01/2015
Entitlement time	05:00:00 PM
Entitlement subject	Rights Issue
Entitlement description	RENOUNCEABLE RIGHTS ISSUE OF UP TO 138,666,727 REDEEMABLE PREFERENCE SHARES OF RM0.01 EACH (“RPS”) IN INSAS BERHAD (“INSAS”) TOGETHER WITH UP TO 277,333,454 FREE DETACHABLE WARRANTS (“WARRANTS”) ON THE BASIS OF ONE (1) RPS TOGETHER WITH TWO (2) WARRANTS FOR EVERY FIVE (5) EXISTING ORDINARY SHARES OF RM1.00 EACH HELD IN INSAS, SUBSCRIBED AT 5.00 P.M. ON 27 JANUARY 2015 AT AN ISSUE PRICE OF RM1.00 PER RPS PAYABLE IN FULL UPON ACCEPTANCE (“RIGHTS ISSUE WITH WARRANTS”)
Period of interest payment	to
Financial Year End
Share transfer book & register of members will be	to closed from (both dates inclusive) for the purpose of determining the entitlements
Registrar's name ,address, telephone no	ShareWorks Sdn Bhd No. 2-1, Jalan Sri Hartamas 8 Sri Hartamas 50480 Kuala Lumpur Tel: 03-6201 1120
Payment date
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	27/01/2015
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)	138666727
Entitlement indicator	Ratio
Ratio	1 : 5
Rights Issues/Offer Price	1

Despatch Date	29/01/2015
Date for commencement of trading of the rights	28/01/2015
Date for despatch of abridged prospectus and subscription forms	29/01/2015
Date for cessation of trading of the rights	06/02/2015
Date for announcement of final subscription result and basis of allotment of excess Rights Securities	23/02/2015
Listing date of the Rights Securities	03/03/2015

Last date and time for	Date	Time
Sale of provisional allotment of rights	05/02/2015	at	05:00:00 PM
Transfer of provisional allotment of rights	10/02/2015	at	04:00:00 PM
Acceptance and payment	13/02/2015	at	05:00:00 PM
Excess share application and payment	13/02/2015	at	05:00:00 PM

yuri@_@

买吗？

小康2

请问大大们，要怎么买附加股呢？小弟的是hong leong 的nomie account

Kevlee

这perference share是什么？较高的利息？？怎么比现在股价高？？？？？？

欣宇霏

我是用CIMB的Direct account，到现在还没收到任何有关附加股的文件，请问要怎么买附加股？明天就是最后一天卖INSAS PR了。

欣宇霏

欣宇霏 发表于 4-2-2015 03:55 PM
我是用CIMB的Direct account，到现在还没收到任何有关附加股的文件，请问要怎么买附加股？明天就是最后一天 ...

非常谢谢你的回复。

jcching0706

请问我被分配到优先股了，我是要买它，我才拥有它吗？

icy97

Type	Announcement
Subject	NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) FUND RAISING
Description	INSAS BERHAD (“INSAS” OR “COMPANY”) RENOUNCEABLE RIGHTS ISSUE OF 132,601,268 REDEEMABLE PREFERENCE SHARES OF RM0.01 EACH IN INSAS (“RPS”) TOGETHER WITH 265,202,536 FREE DETACHABLE WARRANTS (“WARRANTS”) ON THE BASIS OF ONE (1) RPS TOGETHER WITH TWO (2) WARRANTS FOR EVERY FIVE (5) EXISTING ORDINARY SHARES OF RM1.00 EACH IN INSAS, HELD AT 5.00 P.M. ON 27 JANUARY 2015 AT AN ISSUE PRICE OF RM1.00 PER RPS
(All abbreviations used in this announcement are defined in the announcement dated 25 July 2014) On behalf of the Company, M&A Securities is pleased to announce that at the close of acceptance and payment for the Rights Issue with Warrants as at 5.00 p.m. on 13 February 2015 (“Closing Date”), Insas has received valid acceptances and excess applications for a total of 162,390,666RPS.  This represents a subscription level of 122.47% of the total number of RPS available under the Rights Issue with Warrants. Details of valid acceptances and excess applications received as at the Closing Date are as follows: No. of RPS % of total issue Total valid acceptances 121,500,781 91.63 Total valid excess applications 40,889,885 30.84 Total valid acceptances and excess applications 162,390,666 122.47 Total RPS available for subscription 132,601,268 100.00 Total over-subscribed RPS 29,789,398 22.47 The RPS and Warrants are expected to be listed on the Main Market of Bursa Securities on 3 March 2015. This announcement is dated 23 February 2015.

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31/12/2014

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/12/2014	31/12/2013	31/12/2014	31/12/2013
		$$'000	$$'000	$$'000	$$'000

1	Revenue	108,664	80,670	179,779	153,164
2	Profit/(loss) before tax	10,107	42,280	35,345	103,827
3	Profit/(loss) for the period	7,330	41,126	31,034	100,801
4	Profit/(loss) attributable to ordinary equity holders of the parent	6,832	40,923	30,571	100,323
5	Basic earnings/(loss) per share (Subunit)	1.02	6.20	4.59	15.07
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 ($$)	1.8200		1.8000

icy97

Profile for Warrants

INSAS BERHAD

Instrument Type	Warrants
Description	Warrants 2015/2020 issued pursuant to a renounceable rights issue with warrants ("Warrants")

Listing Date	03/03/2015
Issue Date	26/02/2015
Issue/ Ask Price	Not Applicable
Issue Size Indicator	Unit
Issue Size in Unit	265,202,536

Maturity Date	25/02/2020
Revised Maturity Date
Exercise/ Conversion Period	5.00Year(s)
Revised Exercise/ Conversion Period
Exercise/Strike/Conversion Price	MYR 1.0000
Revised Exercise/Strike/Conversion Price
Exercise/ Conversion Ratio	1:1
Revised Exercise/ Conversion Ratio
Mode of satisfaction of Exercise/ Conversion price	Cash or surrender of such number of redeemable preference shares
Settlement Type/ Convertible into	Physical (Shares)

icy97

Profile for Preference Shares

INSAS BERHAD

Instrument Type	Preference Shares
Description	Redeemable preference shares of RM0.01 each in Insas Berhad ("RPS") issued pursuant to a renounceable rights issue with warrants

Listing Date	03/03/2015
Issue Date	26/02/2015
Issue/ Ask Price	MYR 1.0000
Issue Size Indicator	Unit
Issue Size in Unit	132,601,268

Maturity Date	25/02/2020
Revised Maturity Date
Exercise/ Conversion Period	5.00Year(s)
Revised Exercise/ Conversion Period
Exercise/Strike/Conversion Price	MYR 0.0000
Revised Exercise/Strike/Conversion Price
Exercise/ Conversion Ratio	Not Applicable
Revised Exercise/ Conversion Ratio
Mode of satisfaction of Exercise/ Conversion price	Tendering of securities
Settlement Type/ Convertible into	Cash

icy97

黄金十年：脱售英莎凭单获利
黄金十年 财经周刊 投资观点  2015-03-09 14:21
http://www.nanyang.com/node/686010?tid=687

上周我们谈论了马星集团（MAHSING），本周我们也讨论一下另一只同时期买入的英莎优先股（INSAS-PA）。

我们是以21仙买入其白表格，再加上RM1令吉认购价，成本是1.21令吉。随1张优先股公司免费送出两张凭单B（INSAS-WB），以降低人购成本。

优先股将会优先享有售价的4%股息，即每股4仙，为期5年。不过，如果没有任何变卦，公司将会以原价（1令吉）赎回优先股，股东不可转换优先股为母股。

凭单转换价为1令吉，优先股股东有另一种兑现方式，即以1张优先股连同1张凭单，转换成母股。不过，相信这方式应该没有人会采用吧。

最基本的做法，就是把凭单在公开市场套现，达到减低成本的目的，然后安心等待优先股到期，得回1令吉。

我们决定把凭单套现，在上周五以27.5仙卖完全部5万股。而优先股的价钱除了在第一天稍低，之后渐入佳境，在周五时已收在88仙。如果我们把优先股也卖掉，得到（88仙+55仙）1.43令吉的回馈，约是18%回酬，是很不错的利润。

回酬不高但稳定

不过，我们最后选择保留优先股，因为我们把部分脱售凭单的利润（55仙-21仙=34仙），用来抵消优先股成本，其余就算是这次交易的利润了。

我们把优先股的1令吉成本扣除20仙，成为80仙，此后在组合记录中就是以80仙呈现。

虽然许多人可以用现金流折价的方式算出优先股的回酬率，我们的计算法简单一点：其80仙成本在最长5年会得回1令吉，因此增长20仙；粗浅计算是每年4仙。而优先股的股息是每年4仙，那么成长加股息约是8仙，比较本钱80仙，未来五年锁定10%回酬。

这回酬不会很出色，但应该是很稳定；目前油价局势不稳，前途看来有很多困难，有10%的定期回酬，不需要再埋怨什么了。因此，我们的两万令吉就泊在那儿不动了。我们在周五看到英莎的执行长汤氏也把手上凭单卖掉，果然英雄所见略同。

免责声明
除了股票基本面，本文内容纯属虚构，所有提及股项纯属学术上或经验上的建议，读者若有兴趣投资，应该自行深入研究或询问股票经纪才决定，盈亏自负。
我们鼓励通过正确的投资方式创造财富，文中的建议，都有一个完整的买卖纪录。

草根牛马

哭哭鸟

INSAS - 内在价值何时现？

这是一只难搞的股。明明内在价值就是非常高，保守估计每股应该都值超过 RM2.50， 可惜却把多数投资者套了又套。

至于什么时候它的价值才会完全呈现，除了一个人之外，其他人应该都只有一个字 ： 等！

INSAS 的资料基本上也不必多加分析了。手上的王牌 - INARI，就已经超越 INSAS 本身的市值，也等于说，如果看好 INARI，那么通过买进 INSAS 就是另一个更便宜的价值投资管道。话虽如此，但股价最终会如何表现，却也不到我们这样的小鱼虾能够去控制的。

揣摩了 “那个他” 的动作，我个人认为，现在很有可能是让 INSAS 该有的价值呈现了。控股公司一般都比较难完全体现该有的价值，但如果要求一个 50%，我相信应该不难。

1. 之前 INARI 要扩充，INSAS 发 RPS. 或许这间接短暂的压制了股价。而 “那个他” 似乎买 RPS 买得非常过瘾。从他把 INARI 从丑小鸭变成天鹅，一跃成为马股市值最高的电子股，时间之短，盈利之强，可以看得出他在生意上的嗅觉于能耐。另外，也把垂死的 HOHUP 化为闪亮的珍珠，还不断加持，就知道身为母亲的 INSAS，只是时间上的问题了。 如今，RPS 过了，INARI 目前也应该不再需要注资，是否就是时候让该有的价值呈现出来呢？

2. 回顾 INSAS，INARI，HOHUP 在去年 10 月左右，由小股灾造成的股价下挫，不难发现，INARI 已经再创新高，而 HOHUP 也回到之前的水平。反而 INSAS 却举步阑珊，大幅度落后两个孩子。我觉得这不合理。因此，第一阶段，INSAS 至少应该同步回到之前的股价水平。以目前股价而言，至少也有 20-30% 的上涨空间，而且还是非常低于其内在价值。

3. 左手加持 HOHUP，右手套利 INARI。在 HOHUP 股价疲弱时，INSAS 不断加码，把股权持续提高。HOHUP 的联营计划一切顺利，未来的盈利肯定是非常客观的。而脱售 INARI 的部分股权也即将为 INSAS 带来非常可观的盈利。这一来一往的，钱都全部往妈妈的口袋里塞了，有什么理由 INSAS 价值还会持续被压制？我相信，该来的，总会来的。

“那个他” 把两个王子搞得有声有色了。衡量种种的动作，我相信应该是时候让妈妈升格为皇太后，安享晚年。

Stock FM 独钓寒江雪  

哭哭鸟

CEO汤国基增持英莎
财经新闻 财经  2015-04-17 08:30
http://www.nanyang.com/node/694481?tid=462

（吉隆坡16日讯）英莎（INSAS，3379，主板金融股）执行副主席兼总执行长拿督斯里汤国基，在公开市场增持公司股权。

根据文告，汤国基通过Winfields发展私人有限公司，于周二（14日）和周三（15日）在公开市场收购英莎235万股可赎回优先股，但没注明交易价格。

交易完成后，汤国基间接持有英莎5463万6385股或41.2%股权，并直接持有190万2300股或1.43%股权。

英莎周二闭市报95仙，跌0.5仙；周三闭市则扬1仙，收96仙。

Name	Dato' Sri Thong Kok Khee
Address	74 Jalan Setiakasih Damansara Heights 50490 Kuala Lumpur
Descriptions(Class & nominal value)	Redeemable Preference Shares of RM0.01 each (RPS)

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transaction	Date of change	No of securities	Price Transacted (RM)
Acquired	14/04/2015	2,230,000
Acquired	15/04/2015	120,000

Circumstances by reason of which change has occurred	Acquisition of RPS in the open market
Nature of interest	Indirect
Consideration (if any)

Total no of securities after change
Direct (units)	1,902,300
Direct (%)	1.43
Indirect/deemed interest (units)	54,636,385
Indirect/deemed interest (%)	41.2
Date of notice	16/04/2015

哭哭鸟

深谈英莎，到底英莎（Insas）放了多少粒益纳利？
Author: kakashit   |   Publish date: Sun, 19 Apr 2015, 03:56 PM
http://klse.i3investor.com/blogs/kakashit/75076.jsp

英莎最引以为傲的就是益纳利了，每年的年报英莎都会提一提该公司所持有的益纳利到底值多少钱？
2013年：“Based on our current 36.4% holding, the market value of this investment including warrants is about RM260 million compared to our book value of RM90 million, giving us an unrealised revaluation surplus of RM170 million. This surplus has not yet been taken up in our accounts.”

2014年：“The current market value of our shares in Inari Amertron including warrants is RM529 million compared to our book value of RM119 million (including share of associate profits and reserves), giving us an unrealised revaluation gain of RM410 million, or RM0.60 per share. This surplus has not yet been taken up in the audited accounts for the FY 30 June 2014 in conformity with the Malaysian Financial Reporting Standards (MFRS).”

那么英莎在认购益纳利附加股后，到底拥有了多少粒益纳利母股和涡轮？

总共是认购了22m的附加股，所以持股总数增至200m。认购附加股是1送1涡轮，所以也拥有了22m的涡轮-B。

        

市值一共是多少呢？

以现在益纳利母股3.5令吉和涡轮1.5令吉计算，英莎所持有的益纳利母股值700m令吉，涡轮值33m令吉，所以一共是733m令吉。跟截止2014年6月年报所提到的529m令吉，又拉开了一段距离。

也就是说你持有一股英莎，就等于拥有了价值一块钱的益纳利。

根据我国会计的规定，联营公司只能以成本入账，所以英莎的资产负债表一直都未能反应益纳利的价值。所以只能靠套现来释放益纳利的价值（unlocking value）。

英莎在2月认购了益纳利的附加股后，就开始进击的释放后者的价值了。那么，英莎总共套现了多少粒益纳利？

Disposed	17-Mar-2015	500,000	0.00
Disposed	16-Mar-2015	500,000	0.00
Disposed	13-Mar-2015	1,000,000	0.00
Disposed	12-Mar-2015	1,350,000	0.00
Disposed	10-Mar-2015	1,000,000	0.00

Disposed	04-Mar-2015	730,048	0.00
Disposed	03-Mar-2015	1,500,000	0.00

一共卖了6.6m个，以3月3.2令吉的平均股价，英莎一共是套现了21m令吉的Inari。

也就是说英莎截止3月的季报，会有21m令吉的现金进账，或者0.03仙。

虽然不多，但也总算开了个头，证明了管理层不是只会死抱不放。

记得在去年股东大会，小股东们给了汤国基很大的教训，多数股东反对公司批准6万令吉的董事费，场面闹得很僵，还重新计票，但最终汤国基一众的董事不得不放弃董事费。

不懂这次汤国基会不会老老实实，通过派息与小股东一同分享益纳利的甜头呢？

哭哭鸟

信心时机定盈亏
黄金十年 财经周刊 投资观点  2015-04-20 09:58
http://www.nanyang.com/node/695262?tid=687

我们必须承认，当初太小看英莎（INSAS）凭单的潜能了。

一上市我们以27.5仙卖掉，似乎是很聪明的做法，过来两个月，却发现原来自己过于自作聪明。

当初我们的英莎成本是1.21令吉，即1.21令吉得到1股英莎优先股和2股凭单。

如果把凭单的售价用来减低成本，我们所剩的优先股本钱将从1.21令吉（减27.5仙x2）减低到66仙。

再把5年的股息（每年4仙）和本钱1令吉计算起来，未来回酬是1.20令吉，即成长82%，算很了不起了。

可是如果依照目前的凭单40仙来算，我们的本钱将降到0.41令吉（1.21令吉减0.80令吉）；那么未来回酬是192%，只要有耐心和有信心多等两个月，回酬率犹如火箭升空，多可惜呀！

如果凭单起到60仙，那么这个投资就好像去年的就业坊（JOBST）那么神奇，本钱全拿会来了，零成本。可惜，我们竟然把凭单卖了。

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2015

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2015	31 Mar 2014	31 Mar 2015	31 Mar 2014
		$$'000	$$'000	$$'000	$$'000

1	Revenue	139,690	65,965	319,469	219,129
2	Profit/(loss) before tax	30,354	32,485	65,699	136,312
3	Profit/(loss) for the period	28,827	30,719	59,861	131,520
4	Profit/(loss) attributable to ordinary equity holders of the parent	28,116	30,686	58,687	131,009
5	Basic earnings/(loss) per share (Subunit)	4.23	4.61	8.82	19.68
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 ($$)	1.9000		1.8000

ILV

很有趣的一间公司。
有那个大大很了解这间公司的运作和研究它的，能分享吗？