Swing Factors

Upside
▪ Policy changes – visa requirement relaxations and tourist friendly events drive passenger traffic growth.
▪ Less competition – COVID-19 pandemic has caused competitors to reduce capacity and raise prices.
▪ Financial assistance - will enable CAPITALA to fill temporary liquidity gaps and survive.

Financial Metrics

▪ Best financial indicator is core net profit ex-disposal gains, forex and fair value changes, and deferred taxation.
▪ Still forecast FY23E core net loss as passengers carried will be limited by measured aircraft redeployment.
▪ Forecast FY24E to generate net profit on passengers carried recovering and average fares rising.
▪ Sensitive to fuel price movement, a USD1 per barrel change in fuel price will move earnings by MYR40m-MYR50m.
▪ Balance sheet as at end-3Q23 in a net debt position of MYR3.72b if ex-finance lease liabilities.

Value Proposition

▪ Asia’s leading low cost carrier with highest market share, largest fleet size and most extensive route network.
▪ Operates in 4 countries after exiting Japan and India, which provides unrivalled route network reach.
▪ Lowest unit cost airline in the world. Management is very ambitious, cost conscious and forward-thinking.
▪ Growing middle class in Asia fuelling growth in demand for air travel.
▪ Won the coveted ‘World’s Best LCC’ award for a record 14 times in a row by Skytrax.

Maintain BUY call and MYR1.01 SOP-TP

During the COVID-19 pandemic, it is understandable that CAPITALA was preoccupied with surviving. Yet, our read of its FY22A sustainability report was refreshing. There is room to improve especially on its net promoter score and female representation on its BOD but we note that CAPITALA has set ambitious ESG related targets which exhibits its commitment to ESG initiatives. CAPITALA scores marginally above-average in our proprietary scoring methodology with an overall score of 59/100.

Source : Mabel Tiger Bank

Quote of the week

“All intelligent investing is value investing, acquiring more than you are paying for. You must value the business in order to value the stock.”

Charlie Munger Meow

The stock market is a device for transferring money from the impatient to the patient.

Warren Buffett Meow

Based on the above Mabel takeaway is simple..

PNB’s stake in Sapura Energy, held under its various funds, was only 12.16% before the rights issue. It also fully subscribed for the latter’s Islamic redeemable convertible preference shares (RCPS-i), which were part of a RM4 billion cash call — RM3 billion from a five-for-three renounceable rights issue at 30 sen per share, and RM1 billion via a two-for-five renounceable rights issue of new RCPS-i at 41 sen each.

In simple term that's PNB cost without taking into account of the 12.16% before the right issues is between 30 to 41 sen per share. As long as Mabel's cost is below (way way below) the PNB Cost, Mabel can continue to Goyang kaki...

Fortunately, Mabel does not freeze like a monk. Mabel has been and out of this Battleship with a healthy double digit profits..

To Our Success!

Captain Mabel Meow

TalkNumberOne Yo Mabel, what did you do? Why do you have a siao lang sniffing you from behind? 😂😂😂
12/12/2023 8:35 PM

Mabel sincerely hope it's not Baby Huang that will be cuming out...hihihi..

7 years hibernation..hihihi..

Now so fresh ke...hahaha

MrHuangBK 🤣🤣🤣🤣

ConMabel posting gibberish again..

Chart of SAP? What chart? Already 700+ over days stuck in longkang 😂😂😂

9 months no news is not Speculation? We are talking SAP.. a PLC in deep trouble.


12/12/2023 6:58 PM

Haha Auntie Huang you are talking about you ke...
10 years with dead corpses....sure finish one..hihihi

Raja138 This Sarawak Cable Bhd Net Assets Per shares is -19, SAP's is -0.19 sure can fly higher soon.
12/12/2023 6:32 PM

When it comes to stock trading, we want to take high quality trades ONLY and make EASY MONEY. .

How do you know if it’s an easy trade? Well, let the chart speak to you and decipher the story told by the chart.

Before taking each trade, ask yourself 3 questions:
1. Where is the stock likely heading to?
2. Where is your target?
3. Are the answers of Q1 and Q2 two in line? If not, you don’t have to take the trade.

SCB Got White Knight and Fly about 200% today from 6 sen to 23.5 sen

Let's see what is cumming from Sap from 4.5 sen to 20?

Obviously Management is currently working round the clock to announce the QR and talking to Handsome White Knight. This was announced earlier in AGM and not a speculation..

Let's see if it's a BoY or a Gal

Meow

According to Statista, Singapore Airlines flew 165,500 passengers and offered 4,544,500 available seat miles in October 2021, a four-fold increase from the previous year. The on-time performance was 93% for the fourth quarter of 2021. The number of flights operated by Singapore Airlines was 14,894 for the same period

Looks like On Time Performance, Mabel Air Asia is as good as his Sister Singapore Airlines..

Captain Mabel Meow

According to Air Asia newsroom, the number of passengers carried by Air Asia increased to around 24.25 million in 2022, a significant increase from the previous year. The average load factor was 67% and the on-time performance was 93% for the fourth quarter of 2022. The number of flights operated by Air Asia was 14,894 for the same period.

Air Asia is a Malaysian airline that operates as a low-cost carrier (LCC) in the Asia-Pacific region. It offers cheap flights to over 150 destinations across 25 countries, with a fleet of more than 200 aircraft. Air Asia’s low-cost strategy is based on the following principles:

• Low fares: Air Asia offers competitive fares that are often lower than its rivals, by using dynamic pricing, online booking, and ancillary services.
• High efficiency: Air Asia maximizes its operational efficiency by using a single aircraft type (Airbus A320), high aircraft utilization, point-to-point network, and lean distribution system.
• Low-cost culture: Air Asia fosters a low cost culture among its employees, by promoting innovation, productivity, and cost-consciousness.

According to AirlineRatings.com, Air Asia was named one of the top 20 safest low-cost airlines in the world for 2023, and also reaffirmed its position as Asia’s best low cost airline for 2023. Air Asia claims to have the lowest cost per available seat kilometer (CASK) in the industry, at 3.15 US cents in 2021.

Pinky What happened? almost 2 weeks delay release of results
23/11/2023 3:06 PM

Results in line. 3Q23 net profit of MYR185m (+2.3% QoQ, +4.7% YoY) brought the 9M23 total to MYR590.1m (+8% YoY) – this was broadly in line with expectations at 76-78% of our and Street’s estimates. 9M23 revenue grew 12.5% YoY. This was mostly led by 49% higher revenue for the hotel segment while the retail segment revenue grew 6% thanks to its higher occupancy rate. Interest expense only increased slightly as 83% of the group’s borrowings are on a fixed rate. MYR1bn (44%) of KLCCP Stapled’s borrowings are due for refinancing in FY24 – management is confident that the average cost of debt could be lower than the current 4.6%.

A third interim DPU of 8.8 sen was declared for the quarter, bringing the 9M23 DPU to 26.1 sen (9M22: 24 sen).

Looks like Santa is already in town..so nice..

Captain Mabel Meow

“Patience is the companion of wisdom.” —Santa Clause

This quote suggests that being patient can help us gain insight and understanding, and that wisdom is not something that can be rushed or forced. Sometimes, good things take time to develop and mature, and we need to wait patiently for them to come to fruition. Patience can also help us avoid making hasty or impulsive decisions that might harm us or others. By being patient, we can act with prudence and discernment, and achieve our goals more effectively.

To Our Success!

Captain Mabel Meow

ken2004 Actually, I am thinking whether you are betting on Capitala will not manage to submit the plan by 31 Dec to bursa? Everyone know they are in bad financial shape along time ago, so everyone instead focus on their capability to earn more revenue..........
08/12/2023 1:32 PM

On average 26 million tourists visit Malaysia every year.

That's a lot of potential

Meow

Kuala Lumpur Kepong Berhad

Share Price 7 Day 1 Year
21.52 1.0% 3.5%

Kuala Lumpur Kepong Berhad Declares Final Single Tier Dividend for the Financial Year Ended 30 September 2023

The Board of Directors of Kuala Lumpur Kepong Berhad has declared a final single tier dividend of 40 sen per ordinary share of KLK for the financial year ended 30 September 2023.

Lady Sapura may surprise Mabel with a strong up-tick in Profit in coming QR since profit will Not be pull-down by Forex loss. This is based on Mabel Palm-oil Exporting Companies which didn’t report any forex loss. Earnings that have not been captured in last QR will be reported this QR and across the Board Bursa Report until Friday indicating Raw Material Inflation is sliding Downwards.

AAX was relief from PN17. Mabel thinks Lady Sapura will be next then CapitalA since CapitalA is more difficult than SAP because it didn’t produce " White Knight" and Asset Sale as SAP (SapuraOmv) which is under discussion.

Meanwhile all the Battleship crew here are still waiting for our Lady Sapura to deliver. Whether it is a BOY or a GAL.

Sapura Energy Berhad (SAPNRG) is expected to announce its latest quarterly report (QR) for the period ending 31-Oct-2023 on 08-Dec-2023. The company’s previous QR for the period ending 31-Jul-2023 was announced on 27-Sep-2023.

The company reported a net profit of 42.8 million MYR for the quarter, a decrease of 70.7% from the previous quarter. The company’s share price closed at 0.045 MYR on 08-Dec-2023, up by 12.5% from the previous day.


“Patience is the companion of wisdom.” —Santa Clause

This quote suggests that being patient can help us gain insight and understanding, and that wisdom is not something that can be rushed or forced. Sometimes, good things take time to develop and mature, and we need to wait patiently for them to come to fruition. Patience can also help us avoid making hasty or impulsive decisions that might harm us or others. By being patient, we can act with prudence and discernment, and achieve our goals more effectively.

To Our Success!

Captain Mabel Meow

https://www.msn.com/en-my/travel/news/stranded-in-mumbai-mas-passengers-slam-nightmare-experience/ar-AA1laRw5?ocid=NL_ENMY_A1_00010101_1_1&cvid=fcf54385b4d9438e984d1b14fc05e8a3&ei=30

Malaysia Airlines (MAS) passengers who recently found themselves stranded at the Mumbai International Airport in India for up to 57 hours have expressed outrage over the carrier’s management of the situation, describing their experience as “truly unbelievable” and “a nightmare”.

Next time try Mabel Airlines..

Haha RM 7.080 oledi...

geary Southeast Asia
AirAsia CEO Tony Fernandes says he took Singapore Airlines!... Because his flights were full
Fernandes shared pictures of himself boarding the rival carrier’s plane, and the view from his seat!

1. Some social media users praised the move, while others took a jibe at him, saying ‘don’t lie Tony.
Even you don’t wanna fly AirAsia’!?
RM...#0.50/1.50...Come out...Trollers...😁🙏
07/12/2023 8:23 PM

Haha Mabel has a good explaination on this..

CapitalA and SIA is like brother and Sister..they both belong to Mabel Airlines...hihihi

Meow

Haha Nice and Lovely...

86 sen oledi..

Thank you Uncles and Aunties for selling 83 sen to Mabel this week..

Air Asia is soooo Mabellous..

Meow Meow Meow

Haha RM 7.040 oledi...

Reenter Yesterday...

Nice to see it breaches RM 7 today

PCHEM is so Mabellous

Meow

https://www.thestar.com.my/business/business-news/2023/12/07/maybank-named-best-bank-in-asia-pacific-and-singapore

KUALA LUMPUR: Malayan Banking Bhd (Maybank) won top awards at The Banker’s Bank of the Year Award 2023, securing two prestigious awards as Bank of the Year in Asia Pacific and Singapore respectively.

Ninja _07 But @Mabel... Why do you want to enter at 0.48 when you predict it will be down to 0.45? Don't make any sense..
07/12/2023 4:41 PM

rohank71 Mable will be averaging down. U always can't buy the cheapest... what if bounce from 47.5?
07/12/2023 4:58 PM

Meow as rohank71 said..

Nice MM78 and Felix..Will cum to 45 sen once Uncles and Aunties sell at 48.5 and 48 sen..

Meow Meow Meow

imbravo think now is good time to buy
07/12/2023 11:49 AM

Ya lor. Got some Nice Uncles and Aunties sold to Mabel yesterday at 83 sen...

So apy, today up oledi..

Meow

Mabel waiting to re-enter at 48.5 sen and 48 sen..

Meow

Historic high of 4.7 billion people expected to travel by air next year

GENEVA - Airlines are expected to see higher demand for air travel in 2024, with 4.7 billion people forecast to travel.

This will be a historic high and about 4 per cent more than the 4.5 billion people who flew in 2019 before the Covid-19 pandemic wreaked havoc on air travel.

https://www.straitstimes.com/world/47b-people-expected-to-travel-by-air-in-2024-about-4-more-than-pre-pandemic-levels-iata?utm_campaign=stfb&utm_medium=social&utm_source=facebook&fbclid=IwAR25MTbawo-KVn9cPVS_TdW0Pp6NNi-A6aZSK-22zdfIp6G-WzNVM0N2Sfo_aem_AWAJKNE7TbPNInXU9caxj3PAzxQFhmTrFGhoV3wdPMECm3dseYjpeOElAmKl_A_GN7c

This is Mabel’s Gamuda's 3rd Railway Project showcasing the group's strong delivery track record in the region and solidifying its role as a key player in the city-state's transportation infrastructure development.

Contract CR209 is Gamuda’s second railway project in Singapore (after Defu Station and Tunnels); and its third infrastructure project (after the Gali Batu Multi-Storey Bus Depot), all awarded by Singapore Land Transport Authority. Construction works are expected to start in the first quarter of 2024, with passenger service for CRL 2 targeted to commence in 2032.

Meanwhile, Gamuda posted a net profit of RM195.04mi with Revenue, however, surged to RM2.8bil from RM1.3bil a year ago. It has declared a single tier interim dividend of 6.00 sen per ordinary share. The dividend date and the book closure date to be determined and announced later.

Well Done Gamuda!

We maintain our earnings estimates and MYR1.01 SOP-TP even though 3Q23 results came in slightly below our expectations as we expect CAPITALA to generate a core net profit in 4Q23 as fares peak and fuel prices ease.

More importantly, CAPITALA stated that it is ready to announce its PN17 regularization plan this month. With its share price having retraced recently and yielding >10% upside potential, we upgrade CAPITALA to BUY from HOLD.

Source: Mabel Handsome Tiger Bank

Mabel is waiting for Uncles and Aunties to SELL to Mabel at 83 sen, 82.5 sen and 82 sen..

Please SELL if you don't believe in Magician Tony..

Capital Mabel Meow

Haha i3lurker...still haven't get over with Dnex ke?

I feel so sorry for your losses..

https://www.youtube.com/watch?v=asew9BF1wdw

Haha Those that does not believe in Lady Sap please SELL...

Mabel waiting at at 2.5 sen and 2 sen..

Let see if some nice Uncles and Aunties wang to sell to Mabel at these prices..

To Our Success!

Captain Mabel Meow

TalkNumberOne Hahahaha Mabel fun la seeing all the siao lang jokers jumping around. 🤣🤣🤣 lol 4 sens still way above the last time they jumped like a clown at 3 sens. When I confiscate siao lang ego balls for breaching 4 sens
06/12/2023 1:32 AM

Hihihi..

Peter Lynch said buy a basket of shares..

Even if one or two go bankrupt still ok if one can be a multi baggers (that is up 5X or 10X or more

In the case of PN 17 Barakah, Mabel made 800%...

Now you know why Mabel always Goyang kaki...hihihi

Meow

Very good explanations geary..

It's just like people. Some like Durian some don't

Thank you!

Haha Bursa & SC means Business all the time mah..hihihi

Good Night Uncle..

Good Meow

Haha Tomorrow Mabel will que at 2.5 sen and 2 sen..

Let see if some nice Uncles and Aunties wang to sell to Mabel at these prices..

To Our Success!

Captain Mabel Meow

Haha...

Sapura Energy Berhad

Share Price 7 Day 1 Year
0.04 -10.0% 28.6%

Now 28% undervalued after recent price drop.

Over the last 90 days, the stock is down 10.0%.The fair value is estimated to be RM0.062, however this is not to be taken as a buy recommendation but rather should be used as a guide only.

Revenue has declined by 9.2% over the last 3 years. Earnings per share has declined by 21%.

Revenue is forecast to grow by 1.2% in 2 years. Earnings is forecast to grow by 91% in the next 2 years.

So nice and lovely with Mabel current average cost of 3 sen, it so refreshing to see this PN17 is so green just like Mabel CapitalA Air Asia..

To Our Success

Captain Mabel Meow

Haha Nice to see soooo many Uncles and Aunties are here..

Here's the best part, most of the shareholders all so00 relax and goyang kaki..hihihi..

To Our Success !

Meow

#OKU_2020 DISASTER...!
heard MEOW now in CRITICAL 50-50
POTENTIAL TO REST IN PEACE
Talk Koq NO 1 too......
05/12/2023 3:49 PM

#OKU_2020 Meow + ToqKoq No 1 in ICU - both critical now 50 - 50
Felix to eat Maggi mee liao
05/12/2023 4:42 PM

Haha Long Time No See Uncles...

Quote of the week

“All intelligent investing is value investing, acquiring more than you are paying for. You must value the business in order to value the stock.”

Charlie Munger Meow

The stock market is a device for transferring money from the impatient to the patient.

Warren Buffett Meow

Based on the above Mabel takeaway is simple..

PNB’s stake in Sapura Energy, held under its various funds, was only 12.16% before the rights issue. It also fully subscribed for the latter’s Islamic redeemable convertible preference shares (RCPS-i), which were part of a RM4 billion cash call — RM3 billion from a five-for-three renounceable rights issue at 30 sen per share, and RM1 billion via a two-for-five renounceable rights issue of new RCPS-i at 41 sen each.

In simple term that's PNB cost without taking into account of the 12.16% before the right issues is between 30 to 41 sen per share. As long as Mabel's cost is below (way way below) the PNB Cost, Mabel can continue to Goyang kaki...

Fortunately, Mabel does not freeze like a monk. Mabel has been and out of this Battleship with a healthy double digit profits..

To Our Success!

Captain Mabel Meow

https://www.youtube.com/watch?v=xFB1yytGLRA

Haha Now Mabel is torn between two Handsome men...Handsome Tiger and Handsome Sslee..

Here is her messages..

We maintain our earnings estimates and MYR1.01 SOP-TP even though 3Q23 results came in slightly below our expectations as we expect CAPITALA to generate a core net profit in 4Q23 as fares peak and fuel prices ease.

More importantly, CAPITALA stated that it is ready to announce its PN17 regularization plan this month. With its share price having retraced recently and yielding >10% upside potential, we upgrade CAPITALA to BUY from HOLD.

Source: Mabel Handsome Tiger Bank

Mabel is waiting for Uncles and Aunties to SELL to Mabel at 82.5 sen and 82 sen..

Please SELL if you don't believe in Magician Tony..

Capital Mabel Meow

Today CapitalA looks weak...

It's an excellent opportunity for Mabel to renter..

Hope some nice Uncles and Aunties are willing to sell their shares..

Mabel is waiting at 82.5 sen and 82 sen..

Meow

Santa is already in town with Sizeable MYR1.55b foreign inflow since we have many GOOD BOYS and GALS in Malaysia. Happy they are BUYING Mabel’s Companies including CapitalA so that everyone can fly.

After a substantial outflow of MYR2.18b in Oct 2023, foreign investors turned more positive on MY equities in November as they bought MYR1.55b, their largest monthly net buy for the year (Fig.3). Net buying was observed in 17 out of 21 trading days. This narrowed their net sell for 11M 2023 to MYR2.6b (Fig.4). Market foreign holding was 19.6% end-Nov 2023 (-1ppt YTD), a multi-year low (Fig.10).

Thank you Santa!

Sslee Mind telling what Singapore Airlines Limited and CapA have in common?
05/12/2023 8:03 AM

They are both related to the aviation industry, as Singapore Airlines is a major airline company and Capital A is an investment firm that focuses on the aerospace sector.

They are both involved in a strategic partnership with Air New Zealand.

They are both committed to sustainability and environmental responsibility, as Singapore Airlines and Capital A have pledged to achieve net-zero carbon emissions by 2050.

They both helps every one to fly.

Before the pandemic, they both used to give excellent dividend.

While Tony and CapitalA Team are still working on PN17 regularisation plan third extension deadline of 31th Dec 2023, his SIA Sister secured a GO Ahead from Santa to reward all SIA Shareholders.

Meow

#Sslee

i3 stands for:
Independent, Intelligent, Informed.

i3investor as an independent portal, has enable people from many different background, culture, experience, age group to contribute their unique opinion, philosophy, strategy and information that have benefited many i3 readers so that they can make an intelligent and informed decision on how to manage their own risk and investment portfolio.

Every coin has two sides. Those with vested interest will only present you with one sided story about CapA/Stony. I just present to you fact and figure of the other side of the coin CapA/Stony. It is up to you to make an intelligent and informed decision on your investment. Nothing more, nothing less.
05/12/2023 5:21 AM

i3 sound like Charlie...

“All intelligent investing is value investing, acquiring more than you are paying for. You must value the business in order to value the stock.”

Charlie Munger Meow

Buffett Says Make Money In Your Sleep...

Singapore Airlines Limited goes ex dividend tomorrow

Dec. 04, 2023 10:56 AM ETSingapore Airlines Limited (SINGY)By: Urvi Shah, SA News

Singapore Airlines Limited (OTCPK:SINGY) had declared $0.1298/share quarterly dividend, Payable Jan. 8; for shareholders of record Dec. 6; ex-div Dec. 5.

Support Malaysian Magician..

Haha use Air Asia Handsome sslee..