Awards before crash and burn...


01/12/2021 Serba clinches CSR Malaysia’s overall excellence award
https://focusmalaysia.my/serba-clinches-csr-malaysias-overall-excellence-award/


16/11/2018 Serba Dinamik enters 2018 Forbes Asia's Best 200 under a billion list
https://www.bernama.com/en/news.php?id=1668584


23/10/2014 — Dr Karim bin Abdullah, CEO, Serba Dinamik, receives The European Award for Engineering Solutions Provider of the Year 2014 in Asia.
https://the-european.eu/story-8755/interview-dr-karim-bin-abdullah-ceo-serba-dinamik.html

A critical issue with Brand AA charging brand licensing fees to Capital A is that the brand name is still with Capital A (formerly known as Air Asia Berhad)

More importantly is that the Air Asia trademark has been suspended

Stony too cheap to pay for trademark renewal fees?


---

Air Asia
Status653 - Suspension Letter - Mailed
https://trademarks.justia.com/885/95/airasia-88595354.html


Malaysia Airlines
Status700 - Registered
https://trademarks.justia.com/861/26/malaysia-86126812.html


Singapore Airlines
Status800 - Registered And Renewed
https://trademarks.justia.com/764/71/singapore-76471447.html

No worries when Y approached zero

Can do another SPAC since AirAsia Berhad, and not Brand AA Sdn Bhd, remains to be registered proprietor for all the rights under the AirAsia brand.

However, AirAsia Berhad's brand rights in US no longer valid

Maybe no money to pay for trademark initiatives

Maybe cannot refund money to US citizen who paid carriage in advance

https://trademarks.justia.com/885/95/airasia-88595354.html

2021-10-13 SUSPENSION LETTER WRITTEN
2021-10-13 LETTER OF SUSPENSION E-MAILED
2021-10-13 NOTIFICATION OF LETTER OF SUSPENSION E-MAILED

Not sure how it's going to work for Capital A International

In Aetherium Acquisition case, they raised funds and has until April 3, 2024 to purchase a business. Otherwise they must return funding to investors.

The Sponsor in Aetherium Acquisition paid only USD25,000 or USD0.009 per share for the block of 2,875,000 founder shares , not USD10.00 per share


https://www.sec.gov/ix?doc=/Archives/edgar/data/1866547/000149315223012551/form10-k.htm

On May 11, 2021, the Sponsor purchased 2,875,000 founder shares for an aggregate purchase price of $25,000, or approximately $0.009 per share. In June 2021,....The number of founder shares issued was determined based on the expectation that such founder shares would represent 20% of the outstanding shares upon completion of this offering (excluding the placement units and underlying securities).

We also sought approval to amend the investment management trust agreement, dated as of December 29, 2021, by and between us and Continental Stock Transfer & Trust Company, allowing us to extend the date by which the Company must consummate a business combination up to twelve (12) times, each such extension for an additional one (1) month period, until April 3, 2024, by depositing into the trust account established for the benefit of the Company’s public stockholders the lesser of (A) $0.055 per non redeeming publicly held share of common stock and (B) $150,000 (the “Extension Payment”) for each one-month extension. Both proposals were approved.


---

Sslee

If the deal is all share deal then capA will be paid in GMFI share of about 1,000,000,000/10.88 unit.
If this is the case GMFI will be a subsidairy company of capA

Aetherium Acquisition Corp could not file quarterly report for June 30, 2023



https://www.sec.gov/Archives/edgar/data/1866547/000149315223028999/formnt10-q.htm

Aetherium Acquisition Corp. (the “Company’) could not timely file its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2023, because the financial statements could not be completed in sufficient time to solicit and obtain the necessary review of the subject report and signatures thereto in a timely fashion prior to the due date of the report.

AirAsia Bhd has previously signed brand licence agreement with the joint venture companies in Thailand, Indonesia, etc

AirAsia Bhd is the registered proprietor for all the rights under the AirAsia brand

AirAsia Bhd formed a RM2 paid-up company called Brand AA Sdn Bhd on 12-05-2021

AirAsia Bhd was renamed to Capital A Bhd

On May 2023, Capital A announced that Brand AA Brand AA is the registered proprietor for all the rights under the AirAsia brand and has the right to collect royalty fees from AirAsia Aviation Group Ltd, Capital A’s aviation division

What Capital A has failed to disclose is :
- how Brand AA Sdn Bhd suddenly became the registered proprietor for all the rights under the AirAsia brand and remains to be a RM2 paid-up company
- how has the change in the registered proprietor for the brand been effected
- what was the consideration for the transfer of proprietorship of the brand
- what are the terms of brand licensing agreement Brand AA and Capital A
- is the brand licensing agreement still at 1.5% of revenue
- why should Capital A pay brand licensing to Brand AA if the transfer of proprietorship of the brand has not been effected

---

https://theedgemalaysia.com/node/688601

"Brand AA is the registered proprietor for all the rights under the AirAsia brand.

Under a master brand licensing agreement dated May 31 this year, Brand AA has the right to collect royalty fees from AirAsia Aviation Group Ltd, Capital A’s aviation division."

---

Brand AA Sdn Bhd (previously AAD Data Sdn Bhd)

FYE 31-12-2022

Balance Sheet Items (RM)
Non-current assets __________________ 0.00
Current assets _________________________ 0.00
Current liabilities _____________________ 81,977.00
Share capital _________________________ 2.00
Reserves _______________________________ 0.00
Retained Earning ____________________ -81,979.00

Income Statement Items (RM Millions)
Revenue _______________________________ 0.00
Profit / (loss) before tax _____________ -46,971.00
Profit / (loss) after tax _______________ -46,971.00

.

Vigilant Assets has nothing to do with Capital A

Capital A has entered into a letter of intent with Aetherium Acquisition for a merger involving the formation of a Cayman Islands entity, Capital A International (CAPI)

Jonathan Chan and Alec Lee are principal officers of Aetherium Acquisition. Both of them are also directors of Vigilant Assets.

Vigilant Assets' stated the following:

"Our team’s expertise in various investment vehicles, including SPACs, Private Equity, and Venture Capital, blockchain architecture, compliance, technology, ensures that our companies and investors stay at the cutting edge of global innovation and capital markets."

Check on Vigilant Assets shows that Vigilant Assets Pte Ltd is newly set-up and has yet to file annual returns



---

i3lurker

so CapA is doing business diversification into computer retail like Low Yat Plaza????
CapA doing IT wholesale to another IT wholesale and then to IT retail companies in Low Yat is a low margin business.
Must be true since no change in business activities of VIGILANT ASSETS PTE. LTD.
=> I did not see any announcement to BURSA !!!!

In Malaysia you must file in a change of business activity with SSM, otherwise there is a fooking big compound.

Jonathan Chan, Chairman & CEO of Aetherium Acquisition is also Managing Partner at Vigilant Assets

Alec Lee, CFO of Aetherium Acquisition is also a Managing Director at Vigilant Assets

Vigilant Assets Pte Ltd appears to be newly set-up and has yet to file annual returns

Scam and Scammer

Serba 2.0


---

https://www.aetheriumcorp.com/our-team

Jonathan Chan, Chairman & CEO
He is the Managing Partner at Vigilant Assets

Alec Lee, CFO
Our CFO is a Managing Director at Vigilant Assets

---

https://www.vigilant-assets.com/
Vigilant Assets is a Singapore-based firm focused on providing capital and value to high-growth enterprises achieving best-in-class returns to global investors.

Our team’s expertise in various investment vehicles, including SPACs, Private Equity, and Venture Capital, blockchain architecture, compliance, technology, ...

Vigilant Assets Pte Ltd (Singapore registered company, registration number 202104903C)


---

Company search at https://www.tis.bizfile.gov.sg/

Name: VIGILANT ASSETS PTE. LTD.
UEN: 202104903C
Status: LIVE COMPANY
Address: 20 SIN MING LANE, #08-59, MIDVIEW CITY, SINGAPORE 573968
Industry: WHOLESALE OF COMPUTER SOFTWARE (EXCEPT GAMES AND CYBERSECURITY SOFTWARE)
Annual Return : N.A
Annual General Meeting : N.A
Financial Statements Filed : N.A

This field indicates the date of AR last filed with ACRA. "N.A" means that the company has not filed any AR with ACRA.

First of all, Stony is not seeking a listing for Capital A in Nasdaq

He wishes to list Capital A International, and not Capital A

Capital A International shall be made up of Brand AA Sdn Bhd and Fleet Consolidated Pte Ltd

Both Brand AA and Fleet Consolidated are newly formed subsidiaries and do not have any revenue

The idea of Capital A having to pay royalty income to Brand AA Sdn Bhd, a subsidiary of Capital A, looks like, for the lack of a better term - a corporate self-cannibalism hare-brained scheme

Capital A is already losing money

By paying royalty income to Brand AA, Capital A will lose even more money

More critically, Capital A will be paying to Brand AA using passengers' carriage in advance money. The passenger's carriage in advance money is actually trust money and ought not be paid to another company under the guise of brand royalty payment.


---
Posted by Sslee > 5 hours ago | Report Abuse

Repost:
Posted by Bruce_Wayne > Nov 1, 2023 11:17 PM | Report Abuse

However, Brand AA is a RM2 paid-up capital with zero revenue and Fleet Consolidated Pte Ltd is a newly incorporated company that has yet to file annual returns or financial statements (read also as no revenue).

So 2 shell companies with zero value shall have a 'indicative valuation' of US1 Billion when listed in Nasdaq?!!!

BTW Aetherium Acquisition is also a 2 man show company with non-clickable filings

So what the above comment by Bruce_Wayne mean????

However, Brand AA is a RM2 paid-up capital with zero revenue and Fleet Consolidated Pte Ltd is a newly incorporated company that has yet to file annual returns or financial statements (read also as no revenue).

So 2 shell companies with zero value shall have a 'indicative valuation' of US1 Billion when listed in Nasdaq?!!!

BTW Aetherium Acquisition is also a 2 man show company with non-clickable filings
( https://www.aetheriumcorp.com/public-filings )


---

Brand AA Sdn Bhd (previously AAD Data Sdn Bhd)

FYE 31-12-2022

Balance Sheet Items (RM)
Non-current assets __________________ 0.00
Current assets _________________________ 0.00
Current liabilities _____________________ 81,977.00
Share capital _________________________ 2.00
Reserves _______________________________ 0.00
Retained Earning ____________________ -81,979.00

Income Statement Items (RM Millions)
Revenue _______________________________ 0.00
Profit / (loss) before tax _____________ -46,971.00
Profit / (loss) after tax _______________ -46,971.00
---

Name:FLEET CONSOLIDATED PTE. LTD.
UEN:202313504D
Status: LIVE COMPANY
Address: 77 ROBINSON ROAD, #16-00, ROBINSON 77, SINGAPORE 068896
Industry : RENTING OF AIR TRANSPORT EQUIPMENT WITHOUT OPERATOR (EG AIRPLANES WITHOUT OPERATOR)

Annual Return: N.A
Annual General Meeting: N.A
Financial Statements Filed: N.A

"N.A" means that the company has not filed any AR with ACRA.

https://www.tis.bizfile.gov.sg/

Essentially Capital A International's value shall be made up of valuations in Brand AA Sdn Bhd and Fleet Consolidated Pte Ltd


---

https://www.reuters.com/markets/deals/capital-list-nasdaq-via-spac-deal-2023-11-01/

Under the deal, Aetherium Acquisition will acquire all the issued and outstanding share capital of Capital A International, resulting in the formation of a new listed entity, according to a stock exchange filing.

Aetherium Acquisition will ascribe to Capital A International for an indicative equity value of $1 billion alongside additional net cash proceeds.

Capital A International will acquire 100% of both Brand AA, the registered proprietor for all the rights in AirAsia brand, and aircraft leasing company Fleet Consolidated from Capital A, according to the filing.

Capital A International intends to generate revenue from brand royalty and leasing of aircraft, the filing showed.

For any piling contracts in Malaysia, pile first and then pay

Same with AAX flights. Fly first and then pay because Stony has refund dementia

https://www.malaysianow.com/news/2023/06/10/3-year-fight-for-airasia-x-refund-ends-in-disappointment

.

Diary of Conpipi

Postings by Steady Punpipi
https://klse.i3investor.com/web/cube/profile/1644999172450545


Stock: [JAKS]: JAKS RESOURCES BERHAD
2020-12-30 10:29 | Report Abuse

Any price below 0.70 still a very attractive entry price


Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BERHAD
2021-06-13 07:08 | Report Abuse

I m vested and still collecting on any dip from 0.605 next weeek to show my support for SD ...when a friend in need is a friend indeed ...SD will becomes stronger and better in good hands leadership of Karim and his loyal crews after this unfortunate ordeals .


Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BERHAD
2021-06-14 08:13 | Report Abuse

Those annoying lowballers KPMG cronies suddenly getting lesser .... Its a beautiful morning today!


Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BERHAD
2021-06-30 23:06 | Report Abuse

Keeping safely in my safe until all this dramas end....can keep 5 to 10, years also no issues


Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BERHAD
2021-07-28 17:19 | Report Abuse

Fundamental intact , my TP rm1.60 in 2 years still legit....those buying now can thank me later


Stock: [TOPGLOV]: TOP GLOVE CORPORATION BHD
4 weeks ago | Report Abuse

Relax ...Big Boss will not let it go down too low ....support at 0.80 is crucial


Stock: [TOPGLOV]: TOP GLOVE CORPORATION BHD
2 weeks ago | Report Abuse

Great News !!! Insider collecting quietly awaiting Fri Good QR

Diary of Conpipi

Postings by Steady Punpipi
https://klse.i3investor.com/web/cube/profile/1644999172450545


Stock: [JAKS]: JAKS RESOURCES BERHAD
2020-12-30 10:29 | Report Abuse

Any price below 0.70 still a very attractive entry price


Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BERHAD
2021-06-13 07:08 | Report Abuse

I m vested and still collecting on any dip from 0.605 next weeek to show my support for SD ...when a friend in need is a friend indeed ...SD will becomes stronger and better in good hands leadership of Karim and his loyal crews after this unfortunate ordeals .


Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BERHAD
2021-06-14 08:13 | Report Abuse

Those annoying lowballers KPMG cronies suddenly getting lesser .... Its a beautiful morning today!


Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BERHAD
2021-06-30 23:06 | Report Abuse

Keeping safely in my safe until all this dramas end....can keep 5 to 10, years also no issues


Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BERHAD
2021-07-28 17:19 | Report Abuse

Fundamental intact , my TP rm1.60 in 2 years still legit....those buying now can thank me later


Stock: [TOPGLOV]: TOP GLOVE CORPORATION BHD
4 weeks ago | Report Abuse

Relax ...Big Boss will not let it go down too low ....support at 0.80 is crucial


Stock: [TOPGLOV]: TOP GLOVE CORPORATION BHD
2 weeks ago | Report Abuse

Great News !!! Insider collecting quietly awaiting Fri Good QR

A 12% cut in pricing at same output will lead to a 12% drop in revenue

Net profit will drop more than 12%

Comparable plants in Vietnam are reporting only 5%-8% margins

All of them will swing into losses together with EVN

As a result of tariff cut and increasing interest costs, the real accounts for Jaks will probably show losses in 2024

---

Jaks is reporting total earnings of around USD120M for the entire power plant in Vietnam. That margin will be about 32% of sales. Comparable plants in Vietnam are reporting only 5%-8% margins.

Quang Ninh Thermal Power JSC _____ USD444.23M _____ USD32.84M
PVPower NT2 ________________________ USD374.68M _____ USD31.09M
PECC2 ________________________________ USD56.38M ______ USD3.27M
Pha Lai Thermal Power JSC __________ USD218.13M _____ USD15.89M

.

Even with the support of the airline business, the digital business is already suffering losses

Revenue of RM10M but lost RM347.6M

--->>> No matter how the business is being sliced and diced and renamed, all entities are losing money, single and severally. Bar none!


Move Digital Sdn Bhd (previously AirAsia Digital Sdn Bhd)
FYE 31-12-2022

Balance Sheet Items (RM Millions)
NOn-current assets __________________ 460.798
Current assets _________________________ 11.601
Current liabilities _____________________ 572.082
Share capital _________________________ 200.291
Reserves _______________________________ 92.331
Retained Earning ____________________ -399.431


Income Statement Items (RM Millions)
Revenue _______________________________ 10.082
Profit / (loss) before tax _____________ -347.749
Profit / (loss) after tax _______________ -347.682


---

An aviation analyst at a bank-backed research firm told The Edge that for one, there is no guarantee that Capital A’s other businesses, namely digital and logistics, will prove to be profitable for the company without the support of its airline business.

Catherine Goh is the GM of Santan restaurants

Santan was supposed to have 100 restaurants by 2023 to 2025

There used to be a Santan in 163 Retail Park and one in MidValley (next to Mdm Kwan)

Despite charging less than half of Mdm Kwan's price for a nasi lemak, the Santan restaurants in 163 and MidValley closed shop due mainly to lack of customers

Off course, the revenue per nasi lemak packet was lower than cost per nasi lemak packet

.

Here's a picture of Stony in white t-shirt before no-shirt, no pants, no underwear :

https://pictr.com/images/2019/12/03/5wHpzX.jpg

Warning: picture is rated PG18 because Stony's hand is wayyy too close to Catherine Goh's valley


.

Two donkeys, named Cap A and AAX, fell into a 30 feet well

The plan to get out from the well is for one donkey to step on the another donkey and vice versa

And in the process, the two donkeys will form four unions, seven task force and twenty committees

Revenue per ASK is insufficient to cover costs per ASK

Obfuscation will not help

---

[In November last year, as a precursor of its regularisation strategy, AAX in a bourse filing said it would acquire Capital A’s aviation arm held through AirAsia Bhd (AAB) and AirAsia Aviation Group Ltd (AAAGL).

Following the acquisition, AAB, AAAGL and AAX will form a consolidated group, which will be named AirAsia Aviation Group, comprising six airlines — four short-haul and two medium-haul airlines — Malaysia AirAsia, AirAsia Thailand, AirAsia Indonesia, AirAsia Philippines, Malaysia AAX and Thai AAX.]

The so called digital business is just a seat-booking system for airline seats

Logistics is just another name for air cargo transportation service

Remove the airline business, air cargo service will be gone

Also there is nothing to book for the digital business . Maybe booking for Mabel's services. Pay in advance but guaranteed no service.

---

[An aviation analyst at a bank-backed research firm told The Edge that for one, there is no guarantee that Capital A’s other businesses, namely digital and logistics, will prove to be profitable for the company without the support of its airline business.]

USD keeps rising against regional currencies

--> Revenue/ASK in USc will drop
--> Cost/ASK in USc will rise due to rising fuel costs

--->> capital F*^@!


---

Sslee

Many institute/equity fund managers were holding capA before covid 19 or before PN17 untill now.

As of whether institute/equity fund managers allow to buy a PN17 company's shares?
I am not very sure but the question why want to buy a PN17 company like capA as at 30/6/23 with net current liabilities of RM (11,938,731,000), Shareholders' equity RM (8,390,820,000), total equity RM (10,304,487,000) and can't make money flying people:
Revenue/ASK: Q2 USD 4.22 cents cumulative 6 months USD 4.28 cents
Cost/ASK: Q2 USD 5.01 cents cumulative 6 months USD 4.72 cents
Cost/ASK ex fuel: Q2 USD 3.32 cents cumulative 6 months USD 2.95 cents

.

Ang Lam Pah has not been looking at the dong.

Now 1 USD = 24,525.00 Vietnam Dong and continues to rise

The power plant's revenue is in VND, bank loan in USD

Mati kudasai


---

Huangbk72


Seems like Jaks Vietnam plant is not generating enough money to even pay China banks. Capacity already fixed at 1200MW. Even slight disruption will severely impact cash flow.

Recap :
Loan Amount : USD1.4B
Loan Tenure : 10 years ( RM 650 Million per year) - This loan is in USD... imagine impact now due to USD strength

It will be legally ok if the remuneration is declared to LHDN

But over RM61M worth of free shares issued was not reported to LHDN

Between 2019 and July 2023, Jaks has issued the following amount and value of shares under the share grant plans:

____________________ Units ___________ Value (RM)
July 2023 ________ 70,500,000 ________ 12,690,000
2022 _____________ 45,000,000 ________ 11,700,000
2020 _____________ 19,945,000 ________ 17,052,975
2019 _____________ 38,709,760 ________ 19,741,978
Total ____________ 174,154,760 ________ 61,184,953


---

Huangbk72

Hi Bruce

Been awhile since we were commenting in Serba.

One interesting fact for today.. CEO pay. Not easy to find a debt stricken company that pays its CEO so well.. So well above market

Jaks - Mr. Lam Poah Ang - Latest Remuneration - RM9,951,702

.

Huangbk72,

Yes, Serba was quite a few summers ago

I do remember cons like PearlWhite, Mabel, ConPipi, InvestorKing etc . Probably changed avatars in Jaks

Noticed Khor Hun Nee is a director of Jaks. Maybe a proxy for Eddie Ong ( private placement circle fraud in Opcom, Ptrans and possibly soon to be in Jaks)

.

Huangbk72 ,

Interesting observation!

There will also be high amount of cash invested in nebulous projects and constant increases in financing

At least Serba posted positive operating cash flow

Jaks

RM Millions ___________________ 2020 ______ 2021 _______ 2022
Net Cash from operating _____ 20.94 ______ (31.39) _____ (80.94)
Net Cash used in investing ___ (172.72) ___ (106.21) ____ (73.45)
Net Cash from financing ______ 187.3 ______ 100.25 ____ 103.57


Serba
Unaudited results

RM Millions ___________________ 2018 _____ 2019 ______ 2020
Net Cash from operating ______ 97.11 ____ 212.58 ____ 97.145
Net Cash used in investing ___ (873.4) ____ (890.75) __ (1,041)
Net Cash from financing ______ 1,253 _____ 1,311 _____ 512.7


p.s. Yinson is showing similar patterns over the past 2-3 years

---

Posted by Huangbk72 > 23 hours ago | Report Abuse

Is is extremely hard for Jaks to pay any dividend. They are relying on external funding or funds not generated from operations to keep running.
...

Profit can easily be adjusted. Cash flow is difficult to adjust and it shows actual health of the company.

As at 30th June 2023, Cap A's sales in advance was RM2,024,943,000

The RM2.023943 Billion is a liability because Cap A took passengers money and has burnt the money

So, Cap A has reached a limit in taking in sales in advance

And now the idea is to get loan in advance of sales in advance?

Stony can post the request in TNB tiang

---

Posted by geary > 3 hours ago | Report Abuse

xskyriver hi...!
Capital A Bhd group, is seeking a US$400 million (RM1.8 billion) loan, half of it from private credit funds, to refinance debt, according to people familiar with the matter.

The loan will be in the form of a Revenue Convertible Bond, with investors to be paid out of ticket sales from ten AirAsia flight routes, the people said, declining to be identified because the matter is private.


.

Bulk of increase in PPE was RM138,970,022 addition to Capital WIP in 2022

What Capital WIP that costed RM138.97M?

Maybe remeasured cleaning equipment purchased from Serba?

Nothing is certain except death, taxes and impairment by Jaks


page 106
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=225023&name=EA_DS_ATTACHMENTS

---


Posted by Sslee > 14 hours ago | Report Abuse

Non Current Assets :
PPE. 273,041,000

What kind of PPE jaks have?
Most likely will be like Serbadk impairment of PPE coming.

Pha Lai Thermal Power is publicly listed and has a market cap of USD183M and does not have any debt

Pha Lai's capacity is 1,040MW and Jaks Hai Duong Power plant's capacity is 1200MW

If Jaks Hai Duong Power is listed, it's market cap should be USD211.15M ( 183 x 1200/1040)

However, Jaks Hai Duong Power's holding company, Jaks Pacific Power has a debt of USD1,051.5 million (excluding compounded interest)

Therefore Jaks Pacific Power has a negative value if the debt has to be paid off

If Jaks Pacific Power can pull off an AirAsia X stunt and request lenders to take a 100% haircut, then Jaks Pacific Power will be worth USD211.15M

Jaks Resources Berhad's 30% share of Jaks Pacific Power will be worth RM297M ( 211.15 x 0.3 x 4.7 )

However, Jaks Resources Berhad's total debt is RM506.6M while it's share of Jaks Pacific Power is worth only RM297M

Therefore Jaks Resources Berhad's share has a negative value.

Pha Lai Thermal Power Plant
Capacity: 1,040 MW
Units operational:
4 X 110 MW (Pha Lai I)
2 X 300 MW (Pha Lai II)

Pha Lai Thermal Power Financials Summary
FY 2022 (USD millions)
Revenue: 225.425M
EBITDA: 25.307M
Net Income: 21.237M
Todal Assets: 244.268M
Total Debt: 0

Market Cap (29th Sep 2023): 183M

Source:
https://www.investing.com/equities/pha-lai-thermal-power-jsc-financial-summary
https://pitchbook.com/profiles/company/164516-86#stock

---

JAKS Hai Duong Power Plant
Capacity: 1200 MW
FY 2022 (USD millions)
Revenue:
EBITDA:
Net Income: 120M
Todal Assets:

Jaks Pacific Power Debt: USD1,051.50 million

Jaks Resources Berhad debt (30th June 2023): RM506.6M

.

PearlWhite,

Wanna play?


I.Am.PSAi3Alert.


.

Hmm.......

Rev by location ( RM M ) ________ 2023 ________ 2022
Malaysia _________________________ 334 _________ 302
Ghana ___________________________ 857 _________ 566
Nigeria __________________________ 499 _________ 438
Norway __________________________ - ___________ 13
Brazil ____________________________ 4,558 _______ 2,206
India ____________________________ 75 ___________ 72
Other countries _________________ 1 ____________ 10
Subtotal ________________________ 6,324 ________ 3,607


Non current assets by loc ( RM M) __ 2023 ______ 2022
Malaysia _____________________________ 374 _______ 425
Ghana _______________________________ 3,040 _____ 3,176
Brazil _________________________________ 8,259 ____ 4,739
India __________________________________ 967 ______ 458
Vietnam ______________________________ 348 ______ 383
Singapore ____________________________ 97 ________ 67
Canada _______________________________ 62 ________ 79
Nigeria _______________________________ 13 ________ 79
Italy __________________________________ 33 ________ 16
Norway ______________________________ 47 ________ 9
Other countries ______________________ 14 ________ 4
Total __________________________________ 13,254 ___ 9,435

Loans ( RM M ) _____________________ 2023 ______ 2022
Loans and borrowings ______________ 9,584 _____ 8,758
Gross debt __________________________ 9,584 _____ 8,758
Less: Cash and bank balances ______ (1,507) ____ (2,859)
Other investments, current ________ (153) ______ (14)
Net debt ___________________________ 7,924 ______ 5,885

.

Yes, Cap A's financials are real and tell the whole truth.

For every available seat kilometre, Cap A's revenue is USc 4.22 and cost is USc 5.01

So, for every available seat kilometre, Cap A has lost, and will continue, to lose USc 0.79

Cap A has stated unequivocally that they will lose money flying. Period.

[
Cap A's cost per ASK is higher than Scoot's cost per ASK.
So, Cap A is not a true low-cost carrier. More of a low-revenue carrier
Maybe a remeasurement exercise will increase revenue
Stony was previously 100% ugly. After a remeasurement to 99.999% ugly, Cap A's revenue gets bumped up by 1.3693 billion
]

_______________________________________________ Cap A ____ SIA ____ Scoot
Revenue per avail seat-km (US cents/ask) : ___ 4.22 ____ 8.32 ___ 5.4
Passenger unit cost (US cents/ask): ___________ 5.01 ____ 7.01 ___ 4.53
Passenger unit cost ex-fuel (US cents/ask): ___ 3.32 ____ 4.38 ___ 2.99


---

Posted by i3lurker > 1 hour ago | Report Abuse

CapA financials show CapA make heavy losses, no money to pay lease rentals.

Nothing fake about CapA financials
CapA financials show the truth, the whole truth and nothing but the truth

Sri Trang's revenue is greater than Top Glove's revenue for the first 6 months of 2023

Sri Trang reported net profit of RM18.8M for the first 6 months of 2023

However Sri Trang's market cap is only RM2.43B compared to Top Glove's market cap of RM6.361B

Top Glove
Market Cap: RM6,050M
6-months to 31st Aug 2023
Revenue: RM1,006.4856M
NP: Rm - 574.37M


Sri Trang Gloves (Thailand)
Market Cap: RM2,309M
6-months to 30th June 2023
Revenue: RM1,225.771M
NP: RM18.8M


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SIA Revenue per RPK: RM0.55

Cap A Revenue per RPK: RM0.27

RPK = Revenue passenger kilometre

Cap A mission is not to make money from flying

It used to make money by trading plane order slots

Now, it's in the remeasurement business, whatever the fak it means

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Singapore Airlines Limited 30/03/2023

Total cash: SGD16,731.5M

Net property, plant and equipment: SGD27,687M

Long-term debt: SGD8,671M

Total stockholders' equity: SGD19,858.3M

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Jangan lepaskan pegangan Boustead Plantations
September 18, 2023

https://harakahdaily.net/index.php/2023/09/18/jangan-lepaskan-pegangan-boustead-plantations/

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And the arrow punctured Mikecyc's prunes?

Habis cerita?

Posted by Mikecyc > 2023-01-31 11:38 | Report Abuse

Haha finally Casio King released the arrow string …..

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Sri Trang's revenue is greater than Top Glove's revenue for the first 6 months of 2023

Sri Trang reported net profit of RM18.8M for the first 6 months of 2023

However Sri Trang's market cap is only RM2.43B compared to Top Glove's market cap of RM6.361B

Top Glove
Market Cap: RM6,361M
6-months to 31st May 2023
Revenue: RM1,148,626M
NP: Rm - 275.325M


Sri Trang Gloves (Thailand)
Market Cap: RM2,430M
6-months to 30th June 2023
Revenue: RM1,225,771M
NP: RM18.8M


https://stgt.listedcompany.com/misc/fs/20230811-stgt-fs-2q2023-en.pdf
https://www.google.com/search?q=sri+trang+gloves+share+price&oq=sri+trang+gloves+share+price


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Pha Lai Thermal Power is publicly listed and has a market cap of USD183M and does not have any debt

Pha Lai's capacity is 1,040MW and Jaks Hai Duong Power plant's capacity is 1200MW

If Jaks Hai Duong Power is listed, it's market cap should be USD211.15M ( 183 x 1200/1040)

However, Jaks Hai Duong Power's holding company, Jaks Pacific Power has a debt of USD1,051.5 million (excluding compounded interest)

Therefore Jaks Pacific Power has a negative value if the debt has to be paid off

If Jaks Pacific Power can pull off an AirAsia X stunt and request lenders to take a 100% haircut, then Jaks Pacific Power will be worth USD211.15M

Jaks Resources Berhad's 30% share of Jaks Pacific Power will be worth RM297M ( 211.15 x 0.3 x 4.7 )

However, Jaks Resources Berhad's total debt is RM506.6M while it's share of Jaks Pacific Power is worth only RM297M

Therefore Jaks Resources Berhad's share has a negative value.


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Pha Lai Thermal Power Plant
Capacity: 1,040 MW
Units operational:
4 X 110 MW (Pha Lai I)
2 X 300 MW (Pha Lai II)

Pha Lai Thermal Power Financials Summary
FY 2022 (USD millions)
Revenue: 225.425M
EBITDA: 25.307M
Net Income: 21.237M
Todal Assets: 244.268M
Total Debt: 0

Market Cap (29th Sep 2023): 183M

Source:
https://www.investing.com/equities/pha-lai-thermal-power-jsc-financial-summary
https://pitchbook.com/profiles/company/164516-86#stock

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JAKS Hai Duong Power Plant
Capacity: 1200 MW
FY 2022 (USD millions)
Revenue:
EBITDA:
Net Income: 120M
Todal Assets:

Jaks Pacific Power Debt: USD1,051.50 million

Jaks Resources Berhad debt (30th June 2023): RM506.6M

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SKB earnings growth for the past 1 year and past 5 years was more than 50% per annum

The company's earnings growth will continue with capacity expansions


Last 1 Year Earnings Growth

SKB 56.3%
Industry 14.6%
Market 3.1%

Past 5 Years Annual Earnings Growth

SKB 51.8%
Industry 32.5%
Market 10.8%


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3 weeks ago, rr88 declared game over when SKB was at 0.47

SKB went on to reach a high of 0.86

Yesterday, rr88 predicted a free fall for SKB to 0.50++

Today, SKB rose by 0.035 to close at 0.795


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Posted by rr88 > 3 weeks ago | Report Abuse

Volume gone. When volume gone, run for yr life. Bcause game over. Early birds will lose less.

Posted by rr88 > 1 day ago | Report Abuse

Run. Free fall tommorow to 0.50++

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Probably what the Jalan Alor ladyboy said to rr88:

"Not impressed. You cant make it go up. It needs to go up on its own."

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Posted by rr88 > 5 minutes ago | Report Abuse

Not impressed. You cant make it go up. It needs to go up on its own. Stock manipulation 101. If you do that, it wont sustain. I bet my ass it will go down below todays low of 1.99.

You're welcome!

SKB will be a multi-bagger


Posted by huatkia > 1 day ago | Report Abuse

Solid analysis Bruce_Wayne. Thank you and well done.


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A month ago, rr88 predicted that UEMS will drop to 0.35

Today UEMS closed at 0.88


Posted by rr88 in UEMS > 1 month ago | Report Abuse

Double, tripple top.
Hype does not match reality.
Stay away. Tp 0.35.

https://klse.i3investor.com/web/forum/forum-thread/800000936?p=237

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In August 2022, rr88 predicted that Sfptech will drop from 1.05 to 0.60

Sfptech keep increasing and reached 3.48 (before 2-for-1 bonus) on 21st July 2023

From July 2022 till now, Sfptech's share price rose from 0.19 to 0.96, a multiple of 5 times and market cap remains above RM2B


Posted by rr88 in Sfptech > 2022-08-11 12:12

As a friend i ask u please escape now 1.05/1.06.

It will settle around 80++ cents. After some months it will go back to its shithole at 60++ cents n die there with little volume.

I see 100 steps ahead of you


https://klse.i3investor.com/web/forum/forum-thread/800013674?p=8


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Now that rr88 is here to make his shooting star, converge here and there predictions; SKB has a very good chance to rise even further

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Posted by rr88 > 5 hours ago | Report Abuse

Hoi pang!
Pump pump pump, pancit.
Sudah pancitlah. Mesti lari.
The day after tomolo, 25 cent drop in a day.

There's plenty of upside to SKB's share price when earnings continue to grow and the company gets re-rated to the industrial index and composite index PE ratios


Scenarios of SKB share prices at various earnings and PE ratios

_________________________________Current PE (6.7X) __ Industrial PE ___ Composite Index PE

Doubled capacity of latest Earnings ________ 1.98 ________ 4.72 ______ 8.79

Annualized latest Qtr Earnings _____________ 0.99 ________ 2.36 ______ 4.39

Latest FYE Profits ___________________________ 0.76 ________ 1.82 ______ 3.39


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While SKB' shares have increased steadily over the past couple of months, it's PE of only 6.77 is low compared to peers, composite index PE of 29.8 and industrial index PE of 16.2

P/E Ratio Benchmarks

Name __________________________________________________ P/E Ratio
AbleGroup Berhad ________________________________________ 452
White Horse Berhad ___________________________________ 163.57
Composite Index PE (Apr 2023) __________________________ 29.8
Industrial Index PE _______________________________________ 16.2
Ajiya Berhad _____________________________________________ 16.14
YLI Holdings Berhad ______________________________________ 9.41
SKB Shutters Corporation Berhad ________________________ 6.77 <<-------
ES Ceramics Technology Berhad _________________________ 5.19
Kim Hin Industry Berhad ________________________________ -2.13
YB Ventures Berhad _____________________________________ -3.96
Scanwolf Corporation Berhad ___________________________ -8.89
Woodlandor Holdings Berhad __________________________ -9.98
Sarawak Consolidated Industries Berhad _______________ -11.8

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For the quarter ended June 2023, SKB posted annualized revenue of RM138M and annualized net profit of RM19.8M

And the production is from the company's current factory capacity in Kota Damansara

Capacity will be more than doubled when the new automated manufacturing facility is set up in Eco Business Park V

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https://theedgemalaysia.com/article/skb-shutters-set-plant-eco-business-park-v-rm36-mil-land-buy

SKB Shutters Corp Bhd has acquired 9.81 acres ( 39,699.66 sq m) of industrial land in the Eco Business Park V for RM35.97 million, marking its entry into the industrial park of Eco World Development Group Bhd (EcoWorld).

In a joint statement, SKB Shutters, which manufactures roller shutters, steel doors and storage rack systems, said it acquired the land to set up a new automated manufacturing facility in the industrial park, which is located in Puncak Alam.

With the new plant, SKB Shutters is forging ahead with its plans to deploy fully automated fabrication lines, smart optimisation of energy and productivity monitoring and processes, and the launch of Fail-Safe Flood Gate production, the statement said.

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