Covid-19 had totally destroyed capA balance sheet. The only way to rebuilt/reset the balance sheet is debts restucture where everyone need to take a haircut. But for reason only knew to Stony only AAX go thro' a debts restructure but not capA.

With net current liabiliaties of RM (12,507,207,000) where can capA going to get the money to fulfill the obligation to pay the current liabilities for next 12 months.

31/12/2023: 31/12/2022
RM'000: RM'000
Total equity: (10,469,461): (9,516,958)
Shareholders' equity: (8,710,574): (5,725,093)
Net current liabiliaties: (12,507,207): (8,509,066)

In addition, we think the very term “value investing” is redundant. What is “investing” if it is not the act of seeking value at least sufficient to justify the amount paid?
Consciously paying more for a stock than its calculated value – in the hope that it can soon be sold for a still-higher price – should be labeled speculation (which is neither illegal, immoral nor – in our view – financially fattening)

Totally agreed.
Is geary using Warren Buffett word to tell buying capA now is amount to consciously paying more for a stock than its calculated value – in the hope that it can soon be sold for a still-higher price – should be labeled speculation (which is neither illegal, immoral nor – in our view – financially fattening)?

Do you think AAX will take over net lease liabilities of RM (6,627.3 million) from capA and on top of that pay CapA RM 2,754.9 mil for capA aviation' business?

Planes belong to lessors and do you think lessors will agreed to transfer the planes lease from capA to AAX knowing very well that AAX will go bankrupt the moment AAX take over capA aviation?

CapA can only survive by forcing the lessors to take a big haircut but then again most likely someone/someones has/have direct or indirect vested interest on these companies that lease planes to capA

Cap A Lease payment to lessors are now:
RM'000
Depreciation of ROU assets: 449,765 culmulative 12 months 1,574,356
Finance cost-lease liabilities: 252,438 culmulative 12 months 908,771

Stony intention is very clear to use AAX as Sacrificial lamb to save capA

Capital A is also selling its aviation business to AirAsia X Bhd (AAX) as the monetisation of the brand alone would not be enough to lift it out of PN17 status.

“One of the reasons why we have to sell the aviation business is to at least be clean. At least then, we can go and talk to Malaysian banks, raise equity and whatever. That is our big argument with Bursa [Malaysia]. My hands are tied, but I can’t raise capital from aviation,” says Fernandes.

Post removed.Why?

EBITDA and Capital A returned to the black after four consecutive years of net losses with net profit of RM836.99 million in FY2023 versus a net loss of RM2.63 billion in FY2022. Revenue for the full year more than doubled to RM14.77 billion from RM6.44 billion a year earlier.

Are just statement to syoik sendiri/self induce pleasure by Stony.

The Balance sheet reality:
31/12/2023: 31/12/2022
RM'000: RM'000
Total equity: (10,469,461): (9,516,958)
Shareholders' equity: (8,710,574): (5,725,093)
Net current liabiliaties: (12,507,207): (8,509,066)

Is the above figures better or worst than it start off the year 2023?
Figures don't lie but man do lie about figures.
CapA is insolvent, no money to pay bills and keep roll over the bills.
The net current liabilities is now snowball to (RM 12,507,207,000)

Beside EPS need to look into cashflow because earning can be boosted up/down by revaluation fair value gain/loss of assets and share of profit/loss of associate companies.

KSL cashflow is good but the only problem is the controlling shareholders (3 brothers) pay themselve very well but refuse to give any dividend to shareholders and now they are appointing their children to the post of executive director.

By the way jayatiasa cashflow is very good. (3iii please take a look and tell me is jayatiasa a good or awful company?)

Note: Mike-tikus did not know the share of profit from associate company JHDP is just paper profit. What important is dividend from JHDP. Jaks now have cashflow problems and need another PP.

JHDP although reported very good profit but can't afford to give good dividend because the 75% loans taken to finance the project was changed into 10 years term loans. JHPD going to have cashflow problems depreciation is 25 years (good profit) but your loans 10 years term loans (poor cashflow for the first 10 years)

I invested in OSK because OSK give dividend 2 times per year.

I woukd have invested in KSL if only KSL ready to give dividend.

Jaks another PP
The issue price of the Placement Shares, where the Placement Shares will be price at no more
than 10% discount to the 5D-VWAMP of JAKS Shares for the 5 market days immediately
preceding the price fixing date(s).

By the way only billionaire can follow Dino 🦕 method to becoming multi millionaire…

Repost: A gentle reminder to jaks investors:

Jaks finance cost per quarter is now
RM '000
Finance cost (8,139)

Group borrowings as at 31 December 2023 including interest denominated in Ringgit Malaysia are as follows: -
RM’000
Short term borrowings 60,040
Overdraft 6,037
Long term borrowings 428,741
Total 494,818

Cash and cash equivalents included in the cash flow statements comprise the following balance sheet amounts RM'000
Deposits placed with licensed banks 22,222
Cash & bank balances 41,929
Bank overdrafts (6,037)
58,114
Less : Deposit held as security values (22,222)
Bank balance held as security values (904)
Debt service reserves account (11,240)
23,748

Quarter end 31/12/2023
RM'000
Other Operating, Administrative Expenses (68,753)

Mike-tikus,
Did jaks take up the addition 10% in JV JHDP?
Jaks with movable/available bank balance of RM 23.7 million can jaks have enough cash to pay other operating and admin expenses for next 3 months?

So PP or RI kambiiing. What will be the PP or RI price and at what discount to current share price?

Mike-tikus trapped at jaks 19 floor look very dangerous of collapsing anytime

Below are how Dino 🦕 becoming multi millionaire without selling and trapped in Insas for 15 fakking years…


leno Insas 1.18
WC 0.38

1 week after expire
WC 0.38 will become mother 1.18 automatically
= 210.5 % profit in 2 years !!

INSAS RM 60 RINGGIT is KAMBENGGGGGGGG AAAAAAAAAAAAAAA !!

😘😘
26/02/2024 9:16 AM

Aiyoyo this morning bought another 50,000 Jayatiasa at RM 1.18. Sudah berapa banyak untung?

In FY23, posted net profit of RM507 mil, mainly supported by recognition of RM1.4 bil from gain on remeasurement from previously held associate.

Stony wish list for 2024:
Positive outlook on macro indicators
○ Anticipated downward trajectory of brent Crude Oil Price, with prices estimated to reach as low as USD78 per barrel in 2024
○ Expected strengthening of MYR against US Dollar, with an estimated closure at RM4.20-RM4.40/USD by year-end.
○ Market expectations of further interest rate cuts in 2024, advantageous given that 70% of costs are denominated in US dollars.

● Continuous improvement on On-Time-Performance and Net Promoter Score by promoting transparency with guests. To be achieved through minimising delays and if there’s any, to provide timely and precise updates on delays, which also applies to refund progress

● Look forward to kickstarting operations of the newest AOC, AirAsia Cambodia in mid-2024 and potentially announcing a new AOC

If you follow The_JQuestion it will be like:
Malay Proverb: Terlepas dari mulut buaya, masuk ke mulut harimau
Similar English Proverb: Jump from the frying pan into the fire

The details of the directors’ remuneration for the financial year ended 31 December 2022 are set out below:
Group
2022 2021
RM RM
Directors’ remuneration:
- fee 90,000 90,000
- salary and other emoluments 39,087,000 26,206,100
- contribution to state plans 6,479,100 4,501,972
- other personnel costs 8,485 7,912
45,664,585 30,805,984

The three brothers Chairman, Executive Directors pay themselve very well.
But no dividend for minority shareholders.

Aiyoyo my trading account generate CTA earnings of RM 3,554.36 for month Feb.
Will today Jaks waterfall as PP and RI kambiiing?

Sorry typo error.
Correction: The Late Dato' Low Mong Hua

I leave SAB in year 2001 and former CEO the late Dato' Loh pass away with resulting family members fighting among each other. Since then no new projects was implemented. SAB is now living on what the late Dato' Loh had built.

I had my highest respect and profound memories of SAB founder the late Dato' Loh. So out of this respect I will not comment on internal affair of SAB.

Nothing to argue whether Insas is a value trap or not a value trap stock. As long as you can make money from your investment in Insas then Insas is a good stock.

I can only give you the available figures. You form your own facts whether capA can be uplifted from PN17.

By the way this is what one of my whatApp group say about Stony:
Lol.. he is a joke and a conman

31/12/2023: 31/12/2022
RM'000: RM'000
Total equity: (10,469,461): (9,516,958)
Shareholders' equity: (8,710,574): (5,725,093)

The CAPI and GMFI deal only help to boost its shareholder equity by RM2.49 billion.
Any more magic from Stony magic hat to boost shareholders' equity to min positive RM 40 million to be considered for PN17 uplifting?

Posted by xiaoeh > Mar 1, 2024 12:01 AM | Report Abuse
good night Mikecyc

Mike-tikus cannot sleep last night and still busy at jaks forum at 3:37 AM

Mikecyc Haha in fact Jaks Insiders had done a Great Task by Steering the company Diversified into Power Utility industry..👏👏👏..

This decline was primarily attributed to the
lower revenue recognition from the local construction works that are in their final
stages of completion.

👉 With the lower revenue, this division incurred a higher loss
before tax RM63.3 million in this fourth quarter
01/03/2024 3:37 AM

Jaks finance cost per quarter is now
RM '000
Finance cost (8,139)

Group borrowings as at 31 December 2023 including interest denominated in Ringgit Malaysia are as follows: -
RM’000
Short term borrowings 60,040
Overdraft 6,037
Long term borrowings 428,741
Total 494,818

Cash and cash equivalents included in the cash flow statements comprise the following balance sheet amounts RM'000
Deposits placed with licensed banks 22,222
Cash & bank balances 41,929
Bank overdrafts (6,037)
58,114
Less : Deposit held as security values (22,222)
Bank balance held as security values (904)
Debt service reserves account (11,240)
23,748

Quarter end 31/12/2023
RM'000
Other Operating, Administrative Expenses (68,753)

Mike-tikus,
Did jaks take up the addition 10% in JV JHDP?
Jaks with movable/available bank balance of RM 23.7 million can jaks have enough cash to pay other operating and admin expenses for next 3 months?

So PP or RI kambiiing. What will be the PP or RI price and at what discount to current share price?

Mike-tikus trapped at jaks 19 floor look very dangerous of collapsing anytime.

AAX
Revenue per ASK (sen) 17.16
Revenue per ASK (USc) 3.65
Cost per ASK (sen) 15.88
Cost per ASK (USc) 3.38
Cost exc fuel per ASK (sen) 5.96
Cost exc fuel per ASK (USc) 1.27

Whereas CapA
Revenue ASK (USD cents): 4.85
Cost ASK (USD cents): 5.06

Cap A Lease payment to lessors are now:
RM'000
Depreciation of ROU assets: 449,765 culmulative 12 months 1,574,356
Finance cost-lease liabilities: 252,438 culmulative 12 months 908,771

AAX after debts restructure where lessors take a big haircut:
RM'000
Aircraft lease expenses (28,251) culmulativev12 months (76,940)

Jayatiasa will give dividend 2 times per year the new norm and the dividend policy is payout not less than 20% of EPS.

Ann. Date
Ex Date
Type
Subject
Amount
View
29-Feb-2024 14-Mar-2024 DIVIDEND First Interim Dividend RM 0.0250 Dividend Detail
24-Aug-2023 12-Sep-2023 DIVIDEND Second Interim Dividend RM 0.0170 Dividend Detail
28-Feb-2023 14-Mar-2023 DIVIDEND First Interim Dividend RM 0.0150 Dividend Detail

At 31/9/2023
USD to MYR was 4.70
And at 31/12/2023
USD to MYR was at 4.60

Hence result in foreign exchange gain in quarter end 31/12/2023.
But if at end 31/3/2024 USD to MYR stay at 4.75 then it will be a big foreign exchange losses.

Mike-tikus how is your jaks.
I am looking forward to 2 Apri 2024 for my 2.5 sen dividend from Jayatiasa.
Currently 880*25= RM 22,000
Don't get envy ya!

Stock [JTIASA]: JAYA TIASA HOLDINGS BHD
Announcement Date 29-Feb-2024
Reference No ENT-29022024-00007
Corporate Action ID MY240229DVCA0006
Financial Year 30-Jun-2024
Subject First Interim Dividend
Type Dividend - Normal or Special
Description First Interim Dividend of 2.5 sen per ordinary share in respect of the financial year ending 30 June 2024
Amount RM 0.0250
Ex Date 14-Mar-2024
Entitlement Date 15-Mar-2024
Payment Date 02-Apr-2024

Looking forward to 02 Apri 2024 dividend 2.5 sen payment date.

6 months end 31/12/2023
RM'000
Net cash flows from operating activities: 228,370

1 United States Dollar equals 4,75 Malaysian Ringgit
29 Feb, 09.01 UTC · Disclaimer

If USD to MYR stay at this exchange rate till end of March 2024 then next quarter big foreign currency exhange losses.

Note: Loans, lease liabilities and payment, maintenance, fuel, etc are in USD.

As at
31/12/2023: 31/12/2022
RM'000: RM'000
Total equity: (10,469,461): (9,516,958)
Shareholders' equity: (8,710,574): (5,725,093)

This is how Stony bailout his AA Philippines buddy (buy over JV partner 60%) and thus transfer negative billion in Non-controlling interest to shareholders' equity

The CAPI and GMFI deal only help to boost its shareholder equity by RM2.49 billion.
Any more magic from Stony magic hat to boost shareholders' equity to min positive RM 40 million to be considered for PN17 uplifting?

Lease payment to lessors are now:
RM'000
Depreciation of ROU assets: 449,765 culmulative 12 months 1,574,356
Finance cost-lease liabilities: 252,438 culmulative 12 months 908,771

Wonder whether Stony hold any vested interest in lessors company?

So another lose making quarter.
OCT to DEC
Revenue ASK (USD cents): 4.85
Cost ASK (USD cents): 5.06
Average fuel price: USD 125/bbl

This mean Ah Thong accumulate/lock in to much value/current assets/cash/FD inside insas. Hence Insas ia a value trap waiting to be unlocked some fine day.

In conclusion buy below 90 sen and sell above RM 1.20 and repeat few times as what TheContrarian did for 4X gain.

The deal only help to boost its shareholder equity by RM2.49 billion.
It help but still far away from acheiving shareholders' equity of minimum RM 40 million to be considered for uplift from PN 17

At end-September, Capital A’s negative total equity stood at RM10.53 billion.
Shareholders' equity negative RM 8,427,155,000

The announcement also confirms the report in the Feb 19-25 edition of the The Edge Malaysia weekly, which said that parts of the proceeds of the deal, likely in the form of CAPI shares, will be distributed to Capital A shareholders.

The deal will help boost its shareholder equity by RM2.49 billion, a back-of-the-envelope calculation showed. At end-September, Capital A’s negative total equity stood at RM10.53 billion.

It is understood that the gains from the disposal will help Capital A in its road to exit its PN17 status.

Royalty fee for AirAsia brand
Moving forward, CAPI will charge AirAsia Aviation Group Ltd a royalty fee amounting to 1% of revenue from AirAsia’s four airlines in Malaysia, Thailand, Indonesia and the Philippines.

For long-haul carrier AirAsia X, the fee is 0.5%, while Thai AirAsia X will see a higher fee rate of 1.5% of revenue.

CAPI holds IP rights spanning 23 countries, said Capital A in a statement. It has a “stable and recurring revenue stream” from royalty fees, it added.

Watch out whether GMFI get itself delisted from NASDAQ in the next 2 weeks.

Risk of delisting of GMFI
Pursuant to GMFI’s press release dated 1 December 2023, it was disclosed that GMFI had received a “Staff Determination Letter” dated 27 November 2023 (“Letter”) from NASDAQ stating that GMFI had been notified on 10 May 2023 that it had not complied with NASDAQ Listing Rule 5450(b)(2)(A) (“Rule 5450”) as the market value of its listed securities had been below the minimum market value of USD 50 million required for continued listing for 30 consecutive trading days prior to 10 May 2023. Pursuant to NASDAQ Listing Rule 5810(c)(3)(C), GMFI was provided with 180 days or until 6
November 2023 to regain compliance with Rule 5450. As a result, GMFI was informed vide the Letter that its securities will be delisted from NASDAQ on 6 December 2023 unless GMFI request an appeal which it has done so. The appeal hearing was held on 27 February 2024 (“Appeal Hearing”). As at the date of this Announcement, the outcome of the Appeal Hearing is still pending and the decision on the Appeal Hearing is expected to be given in the next 2 weeks.

Separately, GMFI was informed vide the Letter that other deficiencies such as the failure to file its quarterly reports for periods ended 31 March 2023 and 30 June 2023 and non-compliance with the minimum securities holders requirement (“Additional Deficiencies”) formed separate basis for delisting and GMFI would be required to address the Additional Deficiencies before its Appeal Hearing. As at the date of this Announcement, GMFI had addressed the Additional Deficiencies, save for the Additional Deficiencies which requires its shareholders approval at a special meeting
to be held on 5 March 2024.

Following the Appeal Hearing and pending the decision from NASDAQ, GMFI faces the risk of being delisted from NASDAQ, upon which it will no longer maintain its listing status on NASDAQ. In this regards, Capital A has the right to terminate the BCA in the event GMFI is delisted from NASDAQ or trading of GMFI’s listed securities are suspended for more than 1 market day

The only problem with KSL is that all the retain earning is reinvested into land purchase and no dividend for shareholders.

It will help if KYY can persuade the BOD to allocated 20-40% of profit as dividend.

The CAPI shares will be distributed free of charge to capA shareholders.

No cash injection what capA and capA shareholders get is share units of CAPI that will take over the listing status of GMFI

The shareholding of CAPI will be:
CapA 46.1%
Shareholders of capA 47.9%
Shareholders of GMFI 6%

Go and read Insas financial report and tell us how much in current assets especially cash and FD.

After PBA the next waterfall will it be Ranhill?

Know how much AAX pay their creditors as final settlement during their last debts restructure?

The next step is to sell capA aviation to AAX in all shares payment in lieu of cash.

This one will be very difficult because the creditors and lessors will not agree to transfer of debts from capA to AAX.

Addition information from AA newsroom

In addition to the AirAsia brand, CAPI holds the intellectual property rights for 14 other renowned brands and over 224 trademarks spanning 23 countries. CAPI's platform integrates brand strategy, creative marketing and intellectual property development to strategically position its brands and cultivate cultural significance among consumers. The company intends to leverage the brand value of AirAsia through further licensing while implementing its successful strategy to propel and expedite the growth of its intellectual property portfolio.

No cash injection what capA and capA shareholders get is share units of CAPI that will take over the listing status of GMFI

The shareholding of CAPI will be:
CapA 46.1%
Shareholders of capA 47.9%
Shareholders of GMFI 6%

CAPI earning will be 1% aviation revunue minus interest and loan repayment USD 150 million minus admin and management cost.

Leno shoot off mouth INSAS RM 60 RINGGIT is KAMBENGGGGGGGGG AAAAAAAAAA !! become the new joke in Insas forum.

Expected gain arising from the Proposals
The Proposals are not expected to result in a pro forma gain or loss to the Group as a result of the Proposed Brand Disposal.

However, the Proposals are expected to result in a pro forma improvement to theshareholders’ equity of the Group of RM2.49 billion based on the assumptions as set out in Section 7.2.

By giving away/monetised 1% of aviation revenue capA able to improve the shareholders’ equity of the Group by RM2.49 billion. It help but is it enough?

Note: As at 31/9/2023 capA shareholders' equity is negative RM 8,427,155,000

By end of taday you should know the new number as at 31/12/2023.

Know why I bought jayatiasa?

You need to read the financial report: P&L, cash flow and balance sheet. Then you need to monitor the monthly FFB production and CPO daily spot price.

The stock price can just go up or down depend on sentiment but the trend will go up or down denpend on the company quarterly earning.

If reading chart can make you rich then no one need to work anymore.

Since 3iii give a fair value of RM 1.60 for inari. So I actually tell him go and buy insas and indirectly owned inari at far below RM1.60 price and even better take over Insas and get inari for free.