$INSAS / 3379 (INSAS BERHAD): The Berkshire Hathaway of Malaysia?

When discussing INSAS, it's often overlooked, whereas $INARI / 0166 (INARI AMERTRON BERHAD) commands widespread recognition. As the largest tech entity on the Bursa Malaysia, with a market capitalization of approximately RM14.4B, INARI is a household name. Surprisingly, many are unaware that INSAS holds the majority stake in INARI.

In a previous post (https://cutt.ly/3eoPcmEQ), I touched upon the inception of $INARI / 0166 (INARI AMERTRON BERHAD) and its listing, emphasizing INSAS's pivotal role. Initially owning 44.05% of INARI, INSAS has since reduced its stake to 14.36%, yet remains the principal shareholder. Did you know that these 14.36% of INARI shares are valued at RM2.07B, a stark contrast to INSAS's market capitalization of only RM790.5M today?

Apart from INARI, INSAS holds a significant stake in $KLSE-M&A, and it facilitated the RTO of M&A, leveraging its major shareholding in SYF Resources. The listing of M&A aimed to unlock its inherent value. Additionally, INSAS has investments in diverse sectors, including tech with holdings in $KLSE-DFX and $OMESTI / 9008 (OMESTI BERHAD), as well as in the construction sector with $HOHUP / 5169 (HO HUP CONSTRUCTION COMPANY BHD).

In summary, INARI stands out as INSAS's most successful investment, with no other ventures matching its success. Investments in SYF, DFX, OMESTI, and HOHUP have not yielded the same level of success. While some liken INSAS to Malaysia's Berkshire Hathaway, I see it more as a private equity firm. INSAS plays a crucial role in unlocking the value of its subsidiaries, evident in its push for INARI and M&A Equity listings. However, the current portfolio lacks potential listings to realize further value. Could the Melium Group be the next opportunity for INSAS to unlock value?