By 2025 should be able to see the profit contribute by FPSO Atlanta and FPSO Maria Quitéria.

I already book my front row seat with popcorn and cola to watch the firework show.

May 16, 2024, by Melisa Čavčić
A floating production, storage, and offloading (FPSO) vessel has come to Brazil, where anchoring operations are in progress to enable the unit to work at an oil field in the Santos Basin.

FPSO Atlanta; Source: Yinson Production
According to Brazil’s Enauta, the FPSO Atlanta arrived at the Atlanta field in the Santos Basin on May 11, 2024, as planned. Following inspection and clearance by authorities, the vessel started its anchoring operation, with activities progressing in line with the first oil target.

With the capacity to process 50,000 barrels of oil per day, and 140,000 barrels of water per day, the FPSO Atlanta can store 1.6 million barrels of oil and is chartered and operated by Malaysia’s Yinson Production.

Following the FPSO’s naming ceremony at the Dubai Drydocks World in December 2023, the vessel left the shipyard in March 2024, crossing oceans while making its way to Brazil. The first oil is slated for August 2024, with six wells online, reaching ten wells in 2029.

With a lot of overcapacity. When will Lctitan turn around?

Indonesia is likely to start operations of 22 petrochemicals projects from 2021 to 2025, mainly driven by strong demand for plastics and fertilizers, according to GlobalData, a leading data and analytics company.

GlobalData’s latest report, ‘Petrochemicals New Build and Expansion Projects Market Size, Share & Trends Analysis report by type, region, key commodities, and key countries forecasts and analysis 2021–2025’ reveals that out of the 22 projects expected to commence operations in Indonesia, four will be methanol projects, followed by three polypropylene projects.

Bhargavi Gandham, Oil & Gas Analyst at GlobalData, comments: “Indonesia, one of the largest economies in Southeast Asia, is witnessing strong demand for petrochemicals, especially for plastics and fertilizers. Indonesian government plans to minimize dependence on petrochemicals imports by promoting the domestic petrochemical sector to meet the soaring demand.”

Among the upcoming methanol projects in Indonesia, the Air products Bengalon Methanol Plant project leads with a production capacity of 2 MMtpy. The project is expected to start operations in 2025.

GlobalData notes that among the upcoming polypropylene projects, the PT Trans Pacific Petrochemical Indotama Tuban Polypropylene Plant project and Lotte Chemical Corporation Cilegon Polypropylene Plant project lead with a production capacity of 600,000 tpy each. The PT Trans Pacific Petrochemical Indotama Tuban Polypropylene Plant is expected to start operations in 2024 while Lotte Chemical Corporation Cilegon Polypropylene Plant will commence operations in 2025.

AAX will be better off without taking on the assets and liabilities of capA aviation.

Dumb question.
The adjustment of WB is due to RI at 22 sen with free warrants WC in year 2020.

So another 5 -6 years of never ending court case how much the lawyer will charged jaks?

So come back on 2030 to have a second look at jaks

Indonesia is likely to start operations of 22 petrochemicals projects from 2021 to 2025, mainly driven by strong demand for plastics and fertilizers, according to GlobalData, a leading data and analytics company.

GlobalData’s latest report, ‘Petrochemicals New Build and Expansion Projects Market Size, Share & Trends Analysis report by type, region, key commodities, and key countries forecasts and analysis 2021–2025’ reveals that out of the 22 projects expected to commence operations in Indonesia, four will be methanol projects, followed by three polypropylene projects.

Bhargavi Gandham, Oil & Gas Analyst at GlobalData, comments: “Indonesia, one of the largest economies in Southeast Asia, is witnessing strong demand for petrochemicals, especially for plastics and fertilizers. Indonesian government plans to minimize dependence on petrochemicals imports by promoting the domestic petrochemical sector to meet the soaring demand.”

Among the upcoming methanol projects in Indonesia, the Air products Bengalon Methanol Plant project leads with a production capacity of 2 MMtpy. The project is expected to start operations in 2025.

GlobalData notes that among the upcoming polypropylene projects, the PT Trans Pacific Petrochemical Indotama Tuban Polypropylene Plant project and Lotte Chemical Corporation Cilegon Polypropylene Plant project lead with a production capacity of 600,000 tpy each. The PT Trans Pacific Petrochemical Indotama Tuban Polypropylene Plant is expected to start operations in 2024 while Lotte Chemical Corporation Cilegon Polypropylene Plant will commence operations in 2025.

Hahahaha how dumb can someone be keep saying jaks do not have Cash flow problems but every year either PP and RI.

So when and at what price the next batch of PP?

Maybe next AGM someone can propose the current fees be replaced by equilvalent of new issue of icapital share value at NAV. Then most likely the management will work double hard because now they have the skin in the game.

If only KSL pay dividend I would have invested in KSL. So miss this one.

My Pantech also do well with dividend every quarter.

Insas should move back to year high too if Inari and M&A can report increasing profit and BOD give higher dividend

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

My tin stock MSC already 52 weeks new high.

Once upon a time when we do a China project we demand to be paid back in 5 years time. So first 5 year only pay bank interest (no principal payment) because interest is tax deductible and profit from the first 5 years all go back to investor as dividend.

Somone trying hard to con people abt Privasia on jaks forum😱.

All loans by Insas credit and leasing are with collateral.

I am still waiting to buy below RM 1.00 then below RM 0.9

By the way the last WC initially I wrote to Bursa to voice my objection on another RPC with more free warrants. Later I listen to Leno that this is how Thong reward shareholders every 5 years. So I join the crowd and subscribe fully my entitlement with 10% excess application.

The rest is history.

Thong and PAC can't buy from open market because that will immediately trigger 33% MGO.

His best hope is to covert whatever WC he and his PAC hold.

I think US stock market is at dangerous bubble stage. If bubble burst KLSE will also suffer amd TTB can kiss his klse at 2,000- 2,500 goodbye.

All of them are misled or they try to follow Warren Buffett blindly of holding stock for life.

If Philip can understand how you earned 4X from Insas and apply the same method then most likely he already earned many X with many of his stocks holding.

And they will never understand how you make 4X from Insas.

That will be latest by Feb 2026 when Insas-WC expired

I think Philip hold too long on his QL. His QL already lose to Ricky Yeo Scientax for the past 3 of their 10 years competition.

This is how old man like to compare how long you can hold

I am actually hoping for Insas BOD start to deploy the RM 1 billion+ cash hoard.

I am waiting for Inari and M&A quarter result to decide whether to buy back more Insas.

Because not fully owned and profit go to non controlling interest.

By the way, I already spare enough cash to buy more on the dip.

Production figures for current quarter compared with immediate preceding quarter
Current Quarter
Immediate Preceding Quarter

31 March 2024 31 December 2023
PLANTATION
Crude Palm Oil (MT) 41,717.00 69,092.00

Fresh Fruits Bunches (MT) 216,825.00 345,778.00


Palm Kernel (MT) 9,683.00 16,094.00

Q3 result will be q to q drop but y to y increase.
Buy when Q3 result out and many will sell because of q to q EPS drop.

By the way I bought Yinson based on what going to be Yinson 2026 earning.

I already sold most of my insas and waiting to buy back.

My China customers keep buying our alcohol to do ethoxylation as China petrochemical is now very cheap.

The EU going for EU Deforestation free regulation and very soon EU will not be competative in manufacturing of homecare, personal care and cosmetic.

Because this is free open forum and everyone have their strong opinion and two cents to share.

Correction. I only hold 1,000 unit capA just to qualifly as shareholder not 1,000 lot.

The top holding in my portfolio is jayatiasa 1million+ units

This is an open forum and I just try to speak the truth.
And many people in this forum can't take the truth because the truth hurt.

Referring recent announcement of divestment of The Group aviation to AAX
https://theedgemalaysia.com/node/709489
The divestment of AirAsia Aviation Group Ltd (AAAGL) is expected to give rise to a pro forma gain of RM4.69 billion to Capital A, while the disposal of AirAsia Bhd (AAB) would result in a gain of RM6.07 billion

I’m afraid the deal is a zero sum game. What The Group gains is AAX losses: AAX after the acquisition of AAAGL and AAB the total borrowing and lease liabilities is RM 23,271,794,000 gearing 23.96 times.

Question 32: External Auditor what is the likelihood that AAX/New Aviation Group default on payment on current liabilities: Lease liabilities, borrowing, aircraft maintenance, trade and other payables, etc?

Question 33: Company Secretary If a default happens; will the BOD of both CapitalA and AAX end up in jail for offences of Wrongful/Fraudulent trading under Company Act 2016 section 540 and Section 539?

Wrongful Trading
In the CA 2016, an offence of wrongful trading is captured in section 539(3) that:
“…an officer of the company who knowingly was a party to the contracting of a debt had, at the time the debt was contracted, no reasonable or probable ground of expectation, after taking into consideration the other liabilities, if any, of the company at the time, of the company being able to pay the debt, commits an offence…”

Fraudulent Trading
Whereas section 540(1) of the CA 2016 stipulates an offence of fraudulent trading as below:
“If it appears…that any business of the company has been carried on with intent to defraud the creditors of the company or creditors of any other person or for any fraudulent purpose, the Court may declare that any person who was knowingly a party to the carrying on of the business in that manner shall be personally responsible…”

If an offence under section 539(3) has been made out, offenders may be punishable with a maximum imprisonment of 5 years or a maximum fine of RM500,000, or both. Reading together with section 540 of the CA 2016, it is added that the offender may even bear personal liabilities for the payment of the whole or any part of the company’s debt without any limitation of liability upon a court’s declaration

Question 34: If capital A needs to be delisted from Bursa to get more time and space to do a proper capital-raising and restructuring plan and relist in the future, will BOD do so rather than a rush job that might land everyone in a bad place

Life is unfair in Malaysia. Airlines employees do all the hardwork but the boss and airport get all the reward.

I would say the final destination is delist and then relist.

Repost:
Tariffs on rubber medical and surgical gloves will jump to 25% from 7.5% in 2026.

Philip know it, market over react to US tariff increase for glove from 7.5% to 25 % starting 2026.

So what will be the profit look like for Harta? Is the price surge sustainable with the profit growth?

Philip know what will be the profit look like to his Harta and Pchem. If he is smart as he claim he should take some profit off the table

Good morning EngineeringProfit,
I only hold 1,000 units of capA so that I can send my AGM questions.

Repost:
08:55AM 5238 AAX Buy 1,000 1.540 1,000 1.530000 1,530.00 All Matched
08:40AM 5099 CAPITALA Buy 1,000 0.795 1,000 0.795000 795.00 All Matched

Stock : 5238 - AAX
Ref No.
Date
Transaction Type
Quantity
Price
121400866 30/04/2024 Buy 1,000 1.530

Stock : 5099 - CAPITALA
Ref No.
Date
Transaction Type
Quantity
Price
121400905 30/04/2024 Buy 1,000 0.7950

How much did capA make last year?
Did capA employees got their derserved Bonus this year?
Know how much Stony pay himself last year?

Tariffs on rubber medical and surgical gloves will jump to 25% from 7.5% in 2026.

Philip know it, market over react to US tariff increase for glove from 7.5% to 25 % starting 2026.

So what will be the profit look like for Harta? Is the price surge sustainable with the profit growth?

Philip know what will be the profit look like to his Harta and Pchem. If he is smart as he claim he should take some profit off the table.

Insiders need to report any buying or selling.
So did you see any report of insiders buying or selling?

Most likely Shark like Uncle YY is throwing

Buyers think 12 sen is the bottom.
Sellers sold 12.5 sen and think he can subscribe to another tranche of PP at cheaper price.

The actual number of Placement Shares to be issued shall not exceed 10% of the total number of Shares in issue at any point in time. Subject to the prevailing market conditions and depending on investors’ interest at the point of implementation, the Proposed Private Placement may be implemented in a single or multiple tranche(s) within 6 months from the date of approval of Bursa Malaysia Securities Berhad (“Bursa Securities”) for the Proposed Private Placement or such other approved extended period. As such, there could potentially be several price fixing dates depending on the number of tranches and timing of implementation.

Most likely after sharks sold all their PP shares then another tranche of PP again.

I am here only giving some figures and hope people can think for themselve and not misled by the Mike-tikus.

SUBSIDIARY COMPANIES
Company
2023 2022
RM’000 RM’000
(a) Quoted shares, at cost 222,000 –
Unquoted shares, at cost 80,511 196,991
Equity loans (Note 10(c)) 278,226 280,946
Redeemable convertible preference shares (Note 10(d)) 437,100 483,600
Less: Accumulated impairment loss (38,047) (36,207)
979,790 925,330
Market value of quoted shares 262,364 –