2015年06月15日
(吉隆坡/新加坡15日综合讯)上週因为账目受到国际研究机构GMT质疑的亚洲航空(AirAsia,5099,主板贸服股)股价週一进一步下滑,该公司首席执行员今日预先向投资者公佈了一些即將进行的计划,以稳定市场情绪及扶持股价。
《路透社》报导,亚洲航空首席执行员丹斯里东尼费南达斯在发给投资者的信件中指出,该公司旗下的菲律宾及印尼联號公司,將分別发行总值1亿5000万美元的可转换债券,另外,今年內也將脱售及回租20架飞机。
有关信件在週一发出,《路透社》报道东尼在信件表示,「这些项目的细节仍在擬议当中,不过,大部份都將会逐一落实。鑑於公司股价近期的走势,我们决定预先和你们分享这些讯息。」
亚航发言人表示不愿对这封信件作出回应。
亚洲航空上週最后两个交易日股价面对强烈的卖压,这主要是因为GMT研究上週发出一份报告,质疑亚航的会计政策,並指责亚航以其联號公司之间的交易,来提振盈利。亚航股价在两天內急跌33仙,而其联號公司亚航X(AAX,5238,主板贸服股)也同样在拋售压力中走低。
亚航今日延续大热下跌的走势,並触及5年新低,不过,股价及交投活动都已经稍微缓和下来,该股一度跌7仙至1.74令吉,最终收报1.79令吉,跌2仙或1.10%,成交量为386万股。亚航X也跌1仙或4.35%,至22仙,成交量为2800万股。
另外,东尼在信件中也向投资者確保公司的业务正在改善中。他指出,「我们相信2015年將会是更好的一年,更好的营运环境。今年首季已经看到更好的业绩表现。」
瑞银分析员洛斯指出,亚洲航空承诺將会引进新投资者,购买联號公司的股权及可转换债券,这些资金將可用作偿还亚航提供的预支,但是,市场相信对此仍有怀疑。
分析员指出,如果投资者將钱投入这些公司,最终是用作偿还母公司的债务,而非用作钱生钱,相信没有人会愿意作出这样的投资。
东尼也在信件中表示,將在2017年把这两家亏钱的公司进行上市,並预期印尼业务的估值將为7亿令吉,而菲律宾业务的估值则是6亿令吉。
「我们的目標是,售出两家公司各20%股权,分別集资1亿5000万美元。」
联昌国际投行分析员指出,该公司的股价跌势,並非只是因为GMT研究的报告,在过去一个月,该股已经下跌了18%,GMT研究报告只是让这跌势加剧。由於GMT研究在其报告中將亚航的目標价设定在1.23令吉,以致该公司股价作出非常大的反应。
GMT研究表示,该公司预期將需要进行集资,若通过附加股集资,可能將让股本扩大1倍,將对亚航的盈利带来严重的冲淡效应。这也是该研究机构给予亚航低目標价的原因。
分析员指出,亚航的確存在一些问题有待解决,大马航空领域的竞爭压力导致盈利缩减的同时,印尼及菲律宾联號公司继续亏损,亚航需要资助这些联號公司的营运资本,导致亚航需要变卖资產等,应付这些资金需求包括为本身的债务支付利息。如果这问题没有解决,亚航短期內將面对严重的现金短缺。
然而,分析员认为,亚航未必只有发附加股集资一条路可以走。他指出,只要亚航能够为印尼及菲律宾业务爭取到新投资资金,问题將会有转机。这也是东尼今日致股东信函中,承诺將处理的问题。
联昌国际投行分析员表示,在最好情况下,也就是该公司成功为印尼及菲律宾联號公司取得新投资,偿付拖欠亚航的10亿令吉欠款。加上公司脱售及回租飞机的行动,该公司预期可以避开发附加股冲淡每股盈利的窘境。
但分析员也指出,最理想的情况其实是,亚航为印尼及菲律宾业务找到可带来长期持续盈利的业务模式。而分析员相信,这正是亚航目前积极寻找的方案。
http://www.orientaldaily.com.my/business/cj200015538
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Created by Tan KW | Nov 13, 2024
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If IAA PAA are consolidated... the loans would be contra off in the group account as they would be money being owed by AirAsia to itself.... and becomes a non isssue as AirAsia itself has strong balance sheet and assets rich... nobody is going to chase for repayment soon...
2015-06-17 20:47
Posted by r°Moi > Jun 15, 2015 12:29 PM | Report Abuse X
Bloody CMT is hitting here and there... and contradicting itself too... to fish for accounting anomalies......
2015-06-17 20:56
r°Moi , listen some song.. have a break
- Leavin' On A Jet Plane
https://www.youtube.com/watch?v=f4hsC0nRvZM
2015-06-17 21:07
Fat cat..... you should have listened to r°Moi instead of your song...
Posted by r°Moi > Jun 17, 2015 12:23 PM | Report Abuse X
CMT nuisance..... CAPITULATION liao..
Posted by r°Moi > Jun 16, 2015 06:14 PM | Report Abuse X
r°Moi r°Moi This CMT episode.................. COPULATION TOMORROW!! ; )
Posted by r°Moi > Jun 16, 2015 05:37 PM | Report Abuse X
This CMT episode.................. COPULATION TOMORROW!! ; )
Posted by r°Moi > Jun 16, 2015 03:56 PM | Report Abuse X
Isn't this selling today expected???
Posted by r°Moi > Jun 12, 2015 12:03 PM | Report Abuse
T3 T4.... for 78,342,300.... Focus
2015-06-18 11:27
Fat Cat, i can belanja you eat roti canai plus two eggs, want or not ? kekekekekeke
2015-06-18 11:33
Fat cat no appetite la...
In pain... squeezing his balls so hard now..
Should have bought yesterday.. instead.. was busy doing the empty can makes the most noise
2015-06-18 11:39
r°Moi At only USD 13m... the share capitals for IAA PAA are really small.... the loans to them must have been the plan from day 1
18/06/2015 08:30
r°Moi Besides being planned for from day 1.... Anyway AirAsia is no in need of the 2.5 bil urgently.... and is no calling for payment tomorrow... where is the urgency???
There is urgency in Greek.... no urgency in AirAsia
18/06/2015 08:39
r°Moi You know... this is like...
you are 24.. living happily and minding your own business.. and planning to settle down by 27 28.....
then suddenly CMT just popped out from no where and started saying things like you must get married NOW.. you are getting too old blah blah.... WTF
18/06/2015 08:46...
2015-06-18 11:43
r°Moi
If you compare what r°Moi has posted on 14-6-15 to the AirAsia management statement today... you will know r°Moi has full grasp of the so called issues raised by CMT
Posted by r°Moi > Jun 14, 2015 11:54 AM | Report Abuse X
......The June 10 report questioned the airline’s “accounting, profit generation, cash-flow issues, leverage and group structure,” GMT Research’s founder Gillem Tulloch said in an e-mail Friday
Based solely in this...
"accounting......... group structure,”
GMT could well be taking issue with AirAsia that IAA and PAA results (losses) are not taken into account in AirAsias results...
GMT could well be contending that IAA and PAA should be treated as subsidiaries not associates ... arguing that AirAsia has control of these companies even though it has just forty over %.. based on.. well.. these companies bear the name AirAsia, using AirAsias systems, Tony is key... blah blah blah and all that, as such... should bear the full brunt of their losses..
“accounting, profit generation,
CMT could well be contending that AirAsia is generating higher income/profit by over charging its associates on leasing of aircrafts...
These are just r°Moi takes on CMTs thoughts which r°Moi don't think proper on CMTs part..
2015-06-17 20:34