Even if capA manage to generate a core net profit in 4Q23 do you know how bad is capA balance sheet?

How capA going to manage the net current liabiliaties of RM (12,527,863,000) in the next 12 months?


As at 31/3/2023 Capital A
Current assets: RM 1,978,599,000
Current liabilities: RM 10,503,495,000
Net current liabilities: RM (8,524,896,000)
Shareholders’ equity RM (5,553,254,000)
Non-controlling interest: RM (3,822,946,000)
Total equity: RM (9,376,200,000)

As at 30/6/2023 Capital A
Current assets: RM 2,269,900,000
Current liabilities: RM 14,208,631,000
Net current liabilities: RM (11,938,731,000)
Shareholders’ equity RM (8,390,820,000)
Non-controlling interest: RM (1,813,867,000)
Total equity: RM (10,204,687,000)

As at 30/9/2023 Capital A
Current assets: RM 2,072,007,000
Current liabilities: RM 14,599,870,000
Net current liabilities: RM (12,527,863,000)
Shareholders’ equity RM (8,427,155,000)
Non-controlling interest: RM (2,101,925,000)
Total equity: RM (10,529,080,000)

More importantly, CAPITALA stated that it is ready to announce its PN17 regularization plan this month?
Sound familiar and at the end keep postphone submitting the PN17 regularisation plan from Jan 2023 to July 2023 to Oct 2023 and now to 31th Dec 2023.

What if capA fail to submit the PN17 regularisation plan by or on the third extension deadline of 31th Dec 2023 and Bursa SC proceed to suspend and delist capA, will Tiger Bank compensate your lose?

Mind telling what Singapore Airlines Limited and CapA have in common?

If jaks share price keep droping lower and lower then for sure at some point it will trigger the margin forced selling of ALP pledged share.

At last Stony speak his heart: CapA is in a big problem.

AirAsia will try to reduce airfares but ‘have a heart’, says Fernandes

Fernandes said 92% of their domestic flights consisted of low-season airfares, adding deal flights were also offered throughout the year.

"But also have a heart on us, we lost RM4bil last year (and) last quarter we lost RM400mil.

"I can’t control the price of oil. The US Dollar is very strong - 75% of our costs are in Dollars. So when it is strong, my costs go up

Patient Investor @Sslee Are you having some personal grudge with Tony Fernandez or something?
04/12/2023 9:41 PM

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.

LapSAP even suspend and delist at 4.5 sen no harm done.
But if capA suspend and delist many who follow meow meow meow buy call will get burn seriously.

@Tatooine, is ANGLO ASIA INVESTMENTS LIMITED owner a PAC of Dato' Sri Thong?

Post removed.Why?

The question remain:
Do you still believe capA/Stony can submit the PN17 regularisation plan on or before Bursa SC third extension deadline of 31th Dec 2023?

Will Bursa SC procced to suspend and delist capA if capA fail to submit the PN17 regularisation plan by third extension deadline on 31th Dec 2023?

Will capA submit another request for the fourth time extension submitting the PN 17 regularisation plan?

Will Bursa SC approved the extension request for the fourth time or proceed to suspend and delist capA?

Repost:
Stony deserved an Oscar as best Bollywood/Bolehland actor of the year 2023 award.
He told you PN17 is just accounting issue. You believe

He told you capA has engaged RHB Investment Bank to assist in the formulation and/or evaluation of possible proposals with the aim of developing a proposed regularisation plan to regularise its PN17 condition. In addition, the Company has also engaged the following advisers for the formulation of the aforementioned regularisation plan:
1. Messrs Adnan Sundra & Low as the Due Diligence Solicitors;
2. Deloitte Corporate Advisory Services Sdn Bhd as the Independent Valuer;
3. Messrs Ernst & Young PLT as the Reporting Accountants; and
4. BDO Consulting Sdn Bhd as the Internal Control Reviewer.

You also believe but all those kingmen keep postphone submitting the PN17 regularisation from Jan 2023 to July 2023 to Oct 2023 and now to 31th Dec 2023.

The obligation of an Affected Listed Issuer pursuant to Paragraph 8.04 and Practice Note 17 of the Main Market Listing Requirements is to ensure expeditious regularisation of its financial condition to warrant continued trading and listing on Bursa Securities. The Affected Listed Issuer must submit a regularisation plan to the Securities Commission or Bursa Securities which is sufficiently comprehensive and enables the Affected Listed Issuer to regularise its financial condition.

In the event the Company fails to submit its regularisation plan to the regulatory authorities within the stipulated timeframe, the Company may apply for a further extension of time. Any application for a further extension of time will be considered on a case to case basis.

CapitalA triggered the criteria for PN17 in July 2020, after its external auditors EY issued an unqualified audit opinion with material uncertainty relating to going concern in respect of its audited financial statements for FY2019, plus its shareholders’ equity on a consolidated basis was 50% or less of its share capital

Capital A was only classified under PN17, a categorisation for distressed entities, in January 2022 due to an 18-month relief period, instead of 12 months as announced on 16 April 2020 [5], for a listed issuer that had triggered the suspended PN17 or GN3 criteria [6] between 17 April 2020 and 30 June 2021.

https://preview.redd.it/nazir-razaks-daughter-son-voiced-out-about-dads-infidelity-v0-r7iwjl9pc14c1.jpg?width=640&crop=smart&auto=webp&s=e82382e6d95287a004f203078d4dc0d77e2aefab

Jaks insiders used drty trick to trigger margin forced sell Mr and Mrs KYY jaks share.
One fine day the market will/shall return the favor by trigger margin forced sell tne insiders jaks share and hope you are not one of the collateral damage.

Mike-tikus is so desperate, already lose in jaks and now trying to grab on meow meow meow capA to stay afloat.

Insas.
Right issue
Ex Date
Type
Subject
Amount
23-Jan-2015 RIGHTS_ISSUE Rights Issue 1 : 5
02-Feb-2021 RIGHTS_ISSUE Rights Issue 2.0000 : 10.0000

Insas RI of RPS with free warrants in 2015 and 2021 to reward shareholders.

Jaks RI warrant B at RM 0.25 cents and today WB expired out of money. Shareholders subscribe for RI WB lose every sen.
RightIssue
Description RENOUNCEABLE RIGHTS ISSUE OF UP TO 278,164,186 WARRANTS ("WARRANT(S)") IN JAKS RESOURCES BERHAD ("JRB") ON THE BASIS OF 1 WARRANT FOR EVERY 2 EXISTING ORDINARY SHARES IN JRB HELD AS AT 5.00 P.M. ON WEDNESDAY, 21 NOVEMBER 2018, AT AN ISSUE PRICE OF RM0.25 PER WARRANT ("RIGHTS ISSUE OF WARRANTS")

Are you joking or delusion or we Malaysian like to say syiok sendiri /self satifaction by comparing Elon Musk to Stony?

Did meow meow meow know Elon Musk is the richest man in planet Earth and Stony not even in Malaysian top 10 richest list?

Robert Kuok; US$11.8 billion
Quek Leng Chan; $10.2 billion
Koon Poh Keong & siblings; $5.8 billion
Ananda Krishnan; $5.4 billion
Teh siblings; $5.2 billion
Lee Yeow Chor & Yeow Seng; $4.6 billion
Chen Lip Keong; $2.8 billion
Lim Kok Thay; $2.3 billion
Tan Yu Yeh & Yu Wei; $1.9 billion
Chia Song Kun; $1.8 billion

Elon Musk
As of December 1, 2023, the richest person in the world is Elon Musk, the CEO of electric car company Tesla; he's worth an estimated $245 billion. He moved into the number one spot in June this year, overtaking Bernard Arnault of France.

Who is the looser?
Who promoting day and night 24/7/365 jaks for many months with his half past six FA and TA and jaks price is now at:

JAKS RESOURCES BERHAD MAIN : Construction
Last Price Today's Change Day's Range Trading Volume
0.19 0.00 (0.00%) 0.185 - 0.195 10,857,900

Market Cap: 450 Million
NOSH: 2,370 Million
Avg Volume (4 weeks): 8,372,026
4 Weeks Range: 0.185 - 0.21
4 Weeks Price Volatility (%): 20.00%
52 Weeks Range: 0.17 - 0.305
52 Weeks Price Volatility (%): 14.81%

I will not invest in jayatiasa if not for the improved Production of FFB, postive operating cashflow (RM 300+ million per year) that help to significiently reduce debts and importantly start to give dividend.

Most likely flag become Mike-tikus is posting gibberish which do not benefit anyone whose interest is about capA.

StarOfTheBull,

Respectfully please do not use the excuse of "Anyway, those old posts cannot be retrieved" to slander me.

I even wrote a blog in rebutting theedgeMalaysia for misleading and misinformation one sided report on Bursa SC moving the goal post for rejecting AAX uplifting from PN17 when Burs SC first rejected the AAX application to uplife from PN17.

In the blog I even say if CapA injection capA' aviation assets and liabilities into AAX then AAX will surely default on the current liabilities because AAX do not have the capability and capacity to borrow and raise cash in billions to meet the payment of current liabiliaties.

Are you kidding Mike-tikus?

Prior covid capA is overchanging planes lease to AAX, JV: AA India, AA Japan, AA Philippine, AA Thai and AA Indonesia or in other word profit transfer from associates and JVs to capA.

After been exposed then was forced to sale all the wholly owned leasing company and reap big profit to pay dividend.

So what you expect when in 2019 no more owning the lease company (no more lease incomes) but had to lease planes from planes leasing company.

Agree with ken that cavid-19 has bankrupted many airlines but the question remain why post covid some airlines already recovered so fast but not capA? Still lossing money flying people.

Posted by ken2004 > Dec 2, 2023 3:46 PM | Report Abuse
surely the debts accumulate will be superb else they won't be in PN17, so not surprising for me all the revenue need to cover back this hole.........unless another pandemic strike again, it will take time for them to recover.........



Can't help but had to say many of Meow Meow Meow' comments at capA , SAPNRG and Serbadk is at best misleading and misinformation on taking trading gain/loss as investing.

Dec 2, 2023 11:42 AM | Report Abuse
Haha Yes Paul...Santa is cumming to town with CapitalA...
Meow Meow Meow

KUALA LUMPUR (Nov 30): Analysts are expecting wider losses for Capital A Bhd for the financial year ending Dec 31, 2023 (FY2023), after its recent nine-month results missed consensus, in line with lower-than-expected rebound in air travel.

The Practice Note 17 (PN17) company posted a core loss after tax and minority interest (Latami) of RM222.8 million for the third quarter (3QFY2023), significantly impacting the 9MFY2023 results, which stood at a RM652.2 million loss, due to lower yields, surge in fuel prices and the US dollar strengthening against regional currencies.

Hong Leong Investment Bank (HLIB) Research said the results came below its projected profit after tax and minority interest (Patami) of RM90.8 million, and the consensus forecast of RM155 million for FY2023.

This prompted HLIB to revise downward its earnings forecasts to a RM550.2 million loss against its previous estimate of RM90.8 million for Capital A’s FY2023 performance.

Know how many IBs analyst is cutting their projected earning for 2023, 2024 and 2025?

What had gone wrong with CapA when many other airlines are earning big profit and talking about rewarding their employees with many months of year end bonus?

Posted by ken2004 > Dec 1, 2023 8:06 PM | Report Abuse
Seriously, people buy for the potential............which this part whether the company in the coming year will earning big bucks or not..........

HLIB research also said that Capital A is expected to undertake a disposal exercise that will involve AirAsia X, which recently had its own PN 17 status uplifted.
Capital A is also exploring the listing of Philippines AirAsia Inc and PT Indonesia AirAsia.

Is HLIB research clueless that PT Indonesia AirAsia is a listed company in Indonesia?

AirAsia Indonesia Tbk PT
IDX: CMPP
OverviewCompareFinancials
131.00 IDR −5.00 (3.68%)today
1 Dec, 4:01 pm GMT+7 • Disclaimer
Open
136.00
High
136.00
Low
127.00
Mkt cap
1.40T
P/E ratio
-
Div yield
-
52-wk high
230.00
52-wk low
113.00

Is Kenanga Analyst clueless and still talking about capA divest its aviation group to AirAsia X in exchange of shares to be distributed back to its shareholders?

Source : KENANGA
Stock : CAPITALA Price Target : 0.84 | Price Call : HOLD
Last Price : 0.865 | Upside/Downside : -0.025 (2.89%)

CAPITALA’s 9MFY23 results disappointed as the rebound in air travel fell short of expectations. We share its optimism that the recovery in air travel will further accelerate moving into 2024. It is unveiling its PN17 regularisation plan by end-2023. We now forecast a net loss of RM33m (from a profit previously) in FY23F but keep our TP of RM0.84 and MARKET PERFORM call.

It reported a core net loss of RM291m in 9MFY23, against our full-year net profit forecast of RM201m and the full-year consensus net profit estimate of RM155m. The variance against our forecast came largely from the rebound in air travel falling short of expectations.

The key takeaways from the analysts briefing yesterday are as follows:
1. It is on track to announce PN17 regularisation plan by end Dec 2023 with completion expected by 2QCY24. We gathered that it plans to divest its aviation group to AirAsia X in exchange of shares to be distributed back to its shareholders.

The recent dividend:
Ann. Date
Ex Date
Type
Subject
Amount
View
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
30-Aug-2022 27-Sep-2022 DIVIDEND Interim Dividend RM 0.0280 Dividend Detail

At least geary try to talk about intrinsic value but if you value the company by face then you need a lot of hope for good luck.


Posted by The_JQuestion > Dec 1, 2023 4:24 PM | Report Abuse
the face alone worth 2.0++ go cap A lets MOVE !

Our existing policy is to pay a minimum dividend of 20% of net profit subject to not compromising the Group's ability to support its pursuit for long term growth. However, that will not restrict declaration of dividend of more than 20%.

5."The final principle is 'hope for good luck.' That's the most important one."

Geary, if your principle is just hope for good luck then you are destined for failure.

LUCK is when Preparation meets Opportunity and Success is 99% hard work + 1% good luck

“Hope for the best and be prepared for the worst” is a quote by Maya Angelou. Lee Child said, “Hope for the best, plan for the worst”. Zig Ziglar said, “Expect the best prepare for the worst”. Why is it good to be prepared for the worst because, by preparing for the worst, you can reach your goals much more smoothly and you can put more of your energy in having positive attitude knowing that you have covered any eventualities and lessening the negative chatter in your head.

I3lurker what is 515?

Move CEO wants travel brand recognition in post-AirAsia era
By Ram Anand / Bloomberg
01 Dec 2023, 11:02 am

Is Move CEO try to imply post-AirAsia era mean AA is dead and gone/burried for good?

Since I can claim my CNY flight ticket from company account, what airline do you think I will choose?

Posted by StartOfTheBull > Dec 1, 2023 2:48 PM | Report Abuse
Since AAX has exited from PN17 status, will Lee uses AirAsia to balik kampong for CNY this year?

Jayatiasa:
Planted area (ha) 69,589
FFB yield (MT/ha) budgeted for FY 2024:16.10
FFB budgeted production 69,589 X 16.10 = 1,120,382 MT.

Quarter end 30/9/2023 FFB production 359,740 MT
Average FFB local selling price: RM 740/MT.

You must be kidding if anyone believe what this super slander Mike-tikus word at all.

All pure plantation stocks are very easy to predict their quarterly financial result.
What you need to do is monitor the monthly production report and monthly MPOB CPO market price to derive at quarterly revenue and estimate NP.

Most likely
Dividend announcement on 14/12/2023
Ex-date : 29/12/2023
Payment date: 17/1/2024

As a PN17 company capA is facing difficulty to get loans and hence out of necessity an ingenious Finalising revenue bond, which expect to raise USD200 mil cash.

Pledging all the revenue from certain route as collateral (bank into a special account) for the Bond.

Definition: Intrinsic value is the Present value of the investment of all the expected cash flow over the lifetime discounted at the appropriate discount rate.

Intrinsic value = (CF1/ (1+d)^1) + (CF2/(1+d)^2) + ----- +(CFn/(1+d)^n)

Where:
CF = Cash Flow in the Period
d = Discount rate
n = The period number
This Intrinsic value is actually a Discounted Cash Flow (DCF)
Example of intrinsic value is then the Sum of DCF expected cash flow from varies business streams/Divisions.

geary mind telling us what will be the free cash flow of ech division for you to derive at capA intrinsic value of:
Estimated: US$4B.!?

By the way where will capital A international get it profit and how much profit per year?

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
( 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/

Lease liabilities
The lease liabilities amounting to RM18.9 billion includes deferred aircraft leases of approximately RM2.4 billion. The lease liabilities are supported by ROU assets of RM11.9 billion.

The Group had completed the restructuring of a total of 160 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.

By end 4Q23, expect a total of 187 aircraft to be reactivated by 4Q23, with 161 aircraft available for operation and capacity to reach 74% of pre-Covid level

What can you expect the balance (187-160)= 27 aircraft lease yet to be restructured?

Posted by paulthesotong > Dec 1, 2023 12:26 PM | Report Abuse
" anticipates all Lease Liabilities will be restructurerd by Dec 23, have be made significant progress with creditors

CapA survive on borrowing and how long can this go on?

Borrowings
As at
30/9/2023
RM million
As at
31/12/2022
RM million
Short term
Term loans 464.8 233.6
Revolving credit 16.0 31.8
Convertible loan note 281.8 265.6
762.6 531.0

Long term
Term loans 1,725.0 1,302.4
Other facility 573.9 447.8
RCUIDS 708.6 655.5
3,007.5 2,405.7
Total 3,770.1 2,936.7

The currency profile of borrowings are as follows:
As at
30/9/2023
RM million
As at
31/12/2022
RM million
Ringgit Malaysia 945.1 901.8
US Dollar 1,940.8 1,735.1
Philippine Peso 83.3 83.1
Thai Baht 758.4 172.8
Indonesian Rupiah 42.5 43.9
3,770.1 2,936.7

geary am I right to ask:

Can capA not default on payment obligation of current liabilities: RM 14,599,870,000?

Is capA an insolvent company with Net current liabilities: RM (12,527,863,000)?

As at 30/9/2023 Capital A
Current assets: RM 2,072,007,000
Current liabilities: RM 14,599,870,000
Net current liabilities: RM (12,527,863,000)
Shareholders’ equity RM (8,427,155,000)
Non-controlling interest: RM (2,101,925,000)
Total equity: RM (10,529,080,000)

Know where Capital A International going to get the profit from?

To further drawdown USD78 mil from a loan approved
by a regional bank

Finalising revenue bond, which expect to raise USD200
mil cash

Exploring financing opportunities for Indonesia AirAsia
and Philippine AirAsia

So anyone still believe CapA can submit the PN17 regularisation plan on or before 31 Dec 2023?

Will capA request another extension?

And when will Bursa SC say enough is enough and proceed to suspend and delist capA?

Repost:
Under MFRS 16:

(i) On the Consolidated Income Statement, expenses which were previously included under aircraft operating leases will be replaced by finance costs – lease liabilities and depreciation of right of use asset;

(ii) On the Consolidated Cash Flow Statement, operating lease rental outflows, previously recorded within net cash flow from operating activities, are classified as “net cash flow used in financing activities” for repayment of principal of lease liabilities.
01/12/2023 7:49 AM

Another accounting gimmicks from capA/Stony:
EBITDA of RM448 million
To date the Group has generated over RM1 billion in cash flow from its operations.

CapA is unable to pay plane leasing charges = interest + depreciation but needed to defer aircraft leases of approximately RM2.4 billion.

So in future interest +++ interest how to exist in current form, somthing need to give way.

Lease liabilities
The lease liabilities amounting to RM18.9 billion includes deferred aircraft leases of
approximately RM2.4 billion. The lease liabilities are supported by ROU assets of RM11.9
billion.

The Group had completed the restructuring of a total of 160 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.