From Q4 FY 2023 quarterly report:
Lease liabilities
The lease liabilities amounting to RM 18.7 billion includes deferred aircraft leases of approximately RM 2.3 billion. The lease liabilities are supported by ROU assets of RM 12.1 billion.
The Group had completed the restructuring of a total of 161 aircraft leases up to the date of this report including the waiver of lease rentals in arrears, as well as reducing future lease rates with a corresponding longer lease term, where necessary, and return of aircraft.

Question 14: BOD currently the Group has how many aircraft lessors? Will BOD kindly list down the aircraft lessors/lease companies the amount: lease liabilities owed, lease deferred, lease rental in arrear waive, future lease rate reduce with corresponding longer lease term and return of aircraft?

Question 15: BOD any management or BOD team member/members has/have direct or indirect vested interest in The Group’s aircraft lessors/lease companies?

Page 40: Funding
The Group is currently engaging in discussion with lenders at different stages for debt and equity fundraising, with an estimated amount of RM3 billion. As at the date of this report, the Group has received commitment from investors for a Revenue Bond Program of up to USD365 million (equivalent to RM1.68 billion)
The Revenue Bond program entails the conversion of outstanding lease payments of USD240 million (approximately RM1.1 billion) into bond (Tranche 1) and cash inflow of approximately USD125 million (approximately RM575 million) (Tranche 2) to finance working capital, maintenance cost and lease rentals. The revenue bond will be secured against passenger seat sales from identified routes and shares in a subsidiary. Tranche 1 of the Revenue Bond has a tenure of 2.5 years whereas Tranche 2 has tenure of 4 years. The bond is expected to be issued by mid of 2024.

Question 16: BOD what are the reasons aircraft lease companies/lessors demand for the conversion of outstanding lease payments of USD240 million (approximately RM1.1 billion) into bond (Tranche 1)?

Page 13: Going Concern Assessment;
Quote, “Critical to the going concern assessment are the Directors’ expectations of continuous support from the Group’s aircraft lessors” unquote

Question 17: BOD is the move by lessors for the conversion of outstanding lease payments of USD240 million (approximately RM1.1 billion) into bond (Tranche 1) a sign of lessors losing their confidence in the Group ability to pay the outstanding lease payment?

Referring below Q1 2023 presentation
Well positioned for growth with a total of 362 aircraft in order book to be delivered in the next 12 years. 73 aircraft have already been secured financing through Sales and Leaseback (SLB) arrangements with several lessors.

Question 18: BOD what is the latest status on the above?

BOA and Airbus approved lease to AA ??
Look like someone do not know at all who are the lessors and tgink lessors give money to capA???

Net Operating Profit of RM305 million.
Who Stony trying to kid or is Stony saying aircraft lease payment to lessors for non operating aircraft is waived?

Look into cashflow from financing activities.
More borrowings to pay lessors for lease aircrafts RM 726,424,000
The current lease liabilities snowball to RM 5,985,234,000

Sales in advance RM 2,086,697,000 but cash balance only RM 932,872,000
Net current liabilities is now RM (12,923,931,000)

Another lose making Q1 end 31/03/2024.

CAPITAL COMMITMENTS
Capital expenditures which have not been provided for at the end of each reporting period are as follows:
In RM Mil
As at 31 March 2024
As at 31 December 2023
Property, plant and equipment:
Approved and contracted for 1,554: 80
Approved but not contracted for 1,988: 3,329
3,542: 3,409

Very soon the cash will be gone too. Then how to pay good dividend?

The results of the Group’s operations are primarily influenced by global economic conditions, petrochemical
products prices which have a high correlation to crude oil price, particularly for the Olefins and Derivatives segment,
utilisation rate of our production facilities and foreign exchange rate movements.

The utilisation of our production facilities is dependent on plant maintenance activities and sufficient availability of
feedstock as well as utilities supply. The Group will continue with its operational excellence programme and supplier
relationship management to sustain plant utilisation level at above industry benchmark.

The Group anticipates product prices for olefins & derivatives to stabilise on steady demand amidst sufficient supply
post regional plant turnaround activities. Fertiliser and methanol product prices will be subdued following lower
fertiliser demand amidst delayed planting season, and ample methanol supply into the region. For specialties, the
Group expects modest recovery in certain end markets, dependent on the overall macroeconomic and supply
demand dynamics.

Too much to expect for Malaysian able to think logically what more to think crtically.

KP Prop pay dividend.
KSL do not pay dividend but the three brothers pay themselves very well.

Most likely for the first time the independent advisor will advise the offer price is fair based on sum of parts or DCF method of valuation but unreasonable because the offer price was well below market price at prior offer date of 28/5/2023. The advise reject the offer.

The latest transaction will raise SIPP Power’s direct stake to 34.32% from 2.9%. Consequently, SIPP Power together with YTL Power will collectively own a 53.19% stake in Ranhill, up from 21.77% currently.

YTL Power emerged as a substantial shareholder of Ranhill on Nov 1, 2023, after acquiring 243.33 million shares (equivalent to an 18.87% stake) from Cheval Infrastructure Fund LP.

Given the rise in shareholding, SIPP Power is obliged to make a mandatory general offer at 99.5 sen per share to buy out all the Ranhill shares it does not already own. The MGO will be funded by internally generated funds.

Ranhill has announced to Bursa Malaysia that it has received the mandatory offer at 99.5 sen per share on Tuesday.

However, SIPP Power intends to maintain the listing status of Ranhill.

Ranhill will appoint an independent advisor to advise shareholders whether the offer price is fair and reasonable and advise either accept or reject tge offer.

The offer letter will be send to shareholders to either accept or reject the offer. No EGM is needed for shareholders voting. You decide yourself whether to accept or reject the MGO offer.

For long term it is good that Ranhill is now under YTL management. But the earning will take some years to see improvement.

Since ytl aready hold more than 50% and ytl intent to continues the listing of Ranhill so the uncondition VGO offer of 99.5 sen will not be revised.

Their land is near Pengerang Integrated Petroleum Complex. That land is only suitable for petro chemical plants.

From MMC case it take about 4 months before an EGM to vote for or against the SCR. During the 4 months many times MMC was traded more than 20 sen below the offer price.

Remember what happen when minority shareholders reject the VGO of MAA by major shareholder?

Insas hold 9.96% Omesti
Omesti hold 30.44% Microlink and still selling down its holding.

Insas only hold Omesti as mark to market financial asset.
Omesti hold microlink and has nothing to do with Insas.

Mike-tikus trapped at jaks floor 19 how to sell?
By the way his fake TA told him floor 19 is the bottom floor and cannot go lower but jaks falls to underground floor 12-13.

Aiyoyo,
Mike-tikus try to use the same misinformations and his fake TA like he did in jaks to scam people in Priva.

Will he has more luck in Priva then in Jaks?

Not forgetting the many borrowings and RCUID interest payment.

AAX good result because of good deal from aircraft lessors:
As at lease liabilities
31/03/2024 31/12/2023
RM'000 RM'000
Not later than 1 year 186,031 152,392
Later than 1 year and not later than 5 years 760,718 760,718
Later than 5 years 593,072 598,915

CapitalA current lease liabilities as at 31/12/2023 is RM 5,259,638,000.
Do you think capA can earned a reasonable profit after paying this aircraft lease FEES to lessors amt to RM 5,259,638,000 for FY2024?

Aiyoyo,
Jaks cash poor/cash flow problems and every year either PP or RI and never give any dividend but insiders reward themselve with miltimillion LTIP free shares grant.

Quarter end 31/3/2024: Insas suffered loss on fair value change of financial assets at fair value thro profit or loss RM 8,676,000.
This one is mainly from Omesti.

Monday, October 2nd, 2023 at Business | News

iCapital.biz Bhd (ICAP) is introducing an innovative dividend policy to reduce the gap between ICAP’s share price and net asset value (NAV) and potentially bring its share price to a premium, as it did initially.

The policy includes a 1% Base Rate of NAV per share plus an 8% Top-up Rate, but the Top-up Rate won’t apply if ICAP’s share price is trading at parity or a premium to NAV.

The dividend yield is expected to be around 4%, paid annually.


Additionally, ICAP is introducing a dividend reinvestment plan (DRP), allowing shareholders to reinvest dividends into new ICAP shares.

The goal is to remedy the NAV-share price discount without compromising the fund’s investment philosophy.

ICAP’s designated person, Tan Teng Boo, mentioned that this innovative policy aims to resolve the persistent discount issue between ICAP’s share price and NAV.

The proposed DRP aims to increase shareholder participation in ICAP, boost liquidity, and improve long-term capital appreciation.

The dividend policy will be explained in detail at ICAP’s AGM on November 4, 2023.

ICAP’s NAV has outperformed the MSCI Malaysia Index over three years, rising 34.03%, while the share price has increased by 53.53%.

ICAP will call for an Egm to seek shareholder approval for the DRP, with RHB Investment Bank Bhd as the principal adviser and Astramina Advisory Sdn Bhd as the financial adviser for ICAP’s dividend policy and proposed DRP.

Must ask TTB to become director of Insas.
Then TTB will highlight insas holding on Inari is worth how much and he will also come up a dividend scheme that will narrow the market price with NAPS.

Forever and never ending Fair value loss on derivative financial instruments RM 212,159,000.

If only I have a billion then most likely I will take over insas and earn myself another billion. That is how undervalued Insas is.

I am waiting to buy back at below RM 1.0 and then below RM 0.9

RTO of SYF. TheContrarian make handsome profit from holding SYF.

The RTO is just to save Insas holding in SYF and SYF boss.

Insas can actually list M&A securities by normal IPO and that will most likely benefit Insas minority shareholders as minority shareholders are entitle to subscribe to the IPO.

Because of Insas is controlling shareholder of Inari hence many was nominated by insas to directorship of Inari and entiltle to Inari yearly ESOS.

Did insas minoroty shareholders benefit from Insas holding Inari shares or Insas now holding RM1,160,000,000 cash?

Insas NAPS is now RM 3.63.
If WC fully converted then the dilute NAPS is RM (1x3.63 + 0.5x0.9)/1.5 = 2.72

Insas is such a cash rich and with 527,008,575 inari shares it did not matter what will be Insas quarter result but depend how someone wants to push up or push down.

Posted by TheContrarian > May 23, 2024 7:50 PM | Report Abuse
Don't panic, Insas still has RM1,160,000,000 cash.

Thanks will wait below 2.20 to top up again.

I can only hope one day AI will generate many Chun Chun Stocks for us to earn big in the market.

Insas holding in Omesti
Omesti: 53,859,500
Omesti rps: 11,234,800
Omesti warrant: 26,214,532

And many pledged shares from VVIP
M & A Nominee (Tempatan) Sdn Bhd
Insas Credit & Leasing Sdn Bhd for H2O Holdings Sdn Bhd: 66,273,700

If you look into these shares price at beginning of year and quarter end 31/3/2024 then you should know why bad quarter for Insas.

After SPM why go to Tenby to do preU?
Tenby is only good for primary and secondary study.

If Thong buy from open market and trigger 33% MGO then the whole world will know 1+1+1+1 = 4

TheContrarian Insas sum of parts 1+1+1+1 = 1
23/05/2024 7:30 PM

Religion is man creation to explain the unexplained on what happening surrouding him. Birth, aging, sickness and death.

It is also man seeking answer to his inner self question what is the purpose of life?

Luckily announce a good quarter result or else all kena trapped.

Singapore is experiencing a new wave of COVID-19, with authorities recording over 25,900 cases from May 5 to 11. Health Minister Ong Ye Kung advised the public to wear masks again on Saturday.

“We are at the beginning part of the wave where it is steadily rising,” Kung stated. “So, I would say the wave should peak in the next two to four weeks, which means between mid- and end of June,” he told The Straits Times.

Insas should move back to year high if insas can report a good quarter result and associate Inari, subsidiary M&A report an increasing profit.

Now you know why more than 90%+ investors lose money in Bursa.
Can it be because they chase high and believe they can sell higher?

I will be very keen to see what will be BOD, External Auditors and Company Secretary answer to my AGM questions?

https://klse.i3investor.com/blogs/Sslee_blog/2024-05-09-story-h-181840138-Questions_for_upcoming_Capital_A_Berhad_AGM_on_13_Jun_2024.jsp

If you are an employee of airasia and you read the below news.
How would you feel?
You have work so hard till checking all hand carried bags to ensure those carry over 7 kg need to pay the penalties and yet already how many years AA never pay Bonus?
What had gone wrong when SIA reported record profit yet AA hardly making any money?

Record $1.98 Billion Profit Surge Leads to 8 Months’ Salary Bonuses for Singapore Airlines Staff
Sunday, May 19, 2024
Singapore Airlines reports a record profit of S$2.67 billion for 2023-2024, leading to substantial employee bonuses and reflecting strong recovery in travel demand.

The payout exceeds Singapore Airlines’ previous year’s earnings peak, resulting in a profit-sharing bonus equivalent to 6.65 months’ pay and up to 1.5 months’ salary as an ex-gratia bonus related to the pandemic.

The city-state’s flagship carrier reported a record annual profit of S$2.67 billion ($1.98 billion) for the fiscal year 2023-2024, a 24% increase from the previous year, according to a filing on Wednesday.

Insas can easily distribute higher dividend.

The problem is with controlling shareholder Dato' Sri Thong selfishly keep all the cash inside Insas as he time his next move how to increase his and PAC holding from 32.96% to above 50%.

Someone got his stock tip on privasia from his jalan alor massage old lady? He hasn't learnt his lesson on jaks?

No wonder KC Chong has this to say about TTB: It helps if he has more humility.

JohnD0ugh
For Malaysians who have been crying over the weakening Ringgit and rising cost of living, they have right in front of their eyes a precious Malaysian listed fund that has not only offered them currency protection but also superior wealth creation.

Despite a very tough and turbulent environment, icapital.biz Berhad has achieved a very strong performance with its share price outperforming the MSCI Malaysia in US$ by a huge margin in the last 1-year and 3-year periods.

The share price of icapital.biz Berhad has also outperformed the S&P 500 and NASDAQ, two top performing indices dominated by AI stocks like Nvidia, Meta, etc , in US$ in the same 1-year and 3-year periods

Jayatiasa should move back to new high at end of year when peak havesting begin on second half of 2024.

Like I said before I'm still waiting to buy back Insas below RM 1.0 and then below RM 0.9.

Did somone average down his holding in Jaks?