Asset-rich Insas makes cash call

Datuk Seri Thong Kok Khee (pic)  and his brother, Datuk Thong Kok Yoon, collectively own 36% in Insas. But it seems there are no signs of any privatisation plan for now. Instead, the management is offering shareholders a renounceable rights issue of preference shares with warrants.

FOR a company to make a cash call when it is asset rich is indeed perplexing.

Such an exercise would result in dilution and uncertainties as it the exercise takes place in the current environment of an economic slowdown.