We buy shares because we want to become a partner of a listing business. So we must ensure one thing, that's profitable! INSAS profit grows almost 10 times compared the year of 2008 where market crashed. We knew many other finance corp lose money at that time.
INSAS is definitely a worthy good company. It's cash holding has RM649 million! This amount strengthen INSAS position as he could almost return all his borrowing at one time. Furthermore, INSAS still holding 36.44% of INARI and 6.18% of HOHUP, huge cash if INSAS sell some of the stake to others. Perfect position.
Subsequently, reasonable price and then timing of the market. Timing of the market I'm not quite sure yet, but the price is super-undervalued as it's PE remained at 4.47 only! However dividend for the year 2014 only 1 sen which quite disappointing.
Special highlight on July 14': Redeemable preference shares (“RPS”) with free detacable warrants on the basis of 1 RPS & 2 warrants for every 5 existing ordinary shares RM1.00 PER RPS. INSAS will obtain RM138.7 million
RM117 million for working capital and another RM20 million repayment of borrowing; RM1.4 million proposal expenses.
The only thing I'm wondering was why the hell INSAS need more money where he already full of cash..??
Floating shares has 52.67%. With this right issue, is that possible BOD want to reduce the floatings?
