Most likely leno already unload all his WC and now hope to collect back again.

Mike-tikus already cut win your capA?

Thai AirAsia X bankruptcy proceedings to delay merger
By Andrew Curran
16JAN2024

Folding the AirAsia and AirAsia X brands into a single corporate entity may take several years to finalise, according to Tassapon Bijleveld, the executive chairman of Thai AirAsia (FD, Bangkok Don Mueang) and Thai AirAsia X (XJ, Bangkok Suvarnabhumi). He says the planned merger cannot close until Thai AirAsia X wraps up its rehabilitation process.

Last week, AirAsia X (AAX) told the Malaysian bourse that it had signed a non-binding letter of intent to acquire AirAsia (AAB) and AirAsia Aviation Group (AAAGL) from Capital A. AAX plans to merge the airlines operated by AAB and AAAGL into a single business.

AAB operates AirAsia (AK, Kuala Lumpur International) while AAAGL owns and operates AirAsia Cambodia, Indonesia AirAsia, AirAsia Philippines, and Thai AirAsia in conjunction with local partners.

However, the executive chairman of Thai AirAsia and Thai AirAsia X told The Nation newspaper late last week that those two entities may continue to operate under their present ownership structure until as far out as 2027.

"The merger of two airlines in Thailand may have to wait two to three years until Thai AirAsia X leaves the business rehabilitation plan, which should happen around late 2025,” Tassapon Bijleveld said. Thai AirAsia entered into bankruptcy protection in May 2022, at the time saying doing so would allow it to manage better debts incurred earlier in the pandemic.

AAX already owns 49% of Thai AirAsia X, with the remainder in the hands of Thai investors. However, the buyout would see AAAGL's 43% stake in Thai AirAsia go to AAX. External Thai-based investors also hold a 38% stake on Thai AirAsia, while the airline's board and management, including Bijleveld, hold the remaining 19%.

AirAsia founder and CEO of Capital A, Tony Fernandes, says the decision to divest its airline businesses "makes complete sense." Fernandes will retain significant direct and indirect stakes in the AirAsia carriers via his other investment vehicles. He is also optimistic the Thailand-based AirAsia brands have a big future. He wants to turn Bangkok into a hub for AirAsia operations into Europe. "We want to make Bangkok the next Dubai in terms of being a global aviation hub," he said last week.

Donald Trump is leading with 20 delegates

1.215 delegates needed to win the nomination · Updated at 00.56 WIB

Donald Trump
20 delegates

Ron DeSantis
9 delegates

Nikki Haley
8 delegates

Vivek Ramaswamy
3 delegates

Is that a crude joke that US going for another of Biden Vs Donald Trump US president election 2024?

The only hope for capA is a super rich white knight to save capA.

I think by now no bank will lend any money to capA or AAX.

night_shadow What people dont realize is now CapA has lower risk than AAX since all the risk related to airline business (ie fuel cost, lease fee) would be bare by AAX.

Will AAX BOD take the risk?

When a company is on the brink of insolvency, directors ought to consider different stakeholders such as shareholders, creditors, and employees during the exercise of interest balancing. The Companies Act 2016 (“CA 2016”) codifies a general duty on directors’ conduct of trading in a company close to the point of insolvency and any potential liabilities on that account. In broad terms, ‘insolvent trading’ may also be referred to as ‘wrongful trading’ and ‘fraudulent trading’.

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.

AAX will default on current liabilities if capA liabilities is transfered to AAX.
You need a white knight with deep pocket to save a PN 17 company. And AAX do not has any money.

AAX will be a scapegoat for Stony and all the AAX directors will commit an offend under companies ACT 2016 section 539 and 540.

Is IDQWE001 saying US is meddling in Taiwan President election?

Posted by IDQWE001 > Jan 17, 2024 12:36 PM | Report Abuse
US House passes finance bills bolstering Taiwan, squeezing mainland China ahead of island’s presidential election

Normally old man has the habit of counting how many FD and how much in the bank.

Posted by Jonathan39199 > Jan 17, 2024 12:49 AM | Report Abuse
Hi Soon Sheng, I read through your questions and the answers from the BOD. May I ask your insights to deal with the unwillingness of management to distribute sufficient dividends?

Posted by Sslee > Jan 17, 2024 8:36 AM | Report Abuse X
Leno who hold multi-million WC also do not want company distribute good dividend because dividend give out will dilute the net worth of WC.

The BOD is working hard to give a better dividend but the old man controlling shareholder Dato' Sri Thong object, may be he also see giving out dividend is reducing the net worth of Insas.

By next year BOD will not have any more excuse for not giving better dividend if we the minority shareholders keep pressuring BOD for better dividend.

Posted by Sslee > Jan 17, 2024 8:47 AM | Report Abuse X
Many people rebut me for asking a better dividend by quoting Berkshire Hathaway does not pay dividends to its investors. Instead, the company chooses to reinvest retained earnings into new projects, investments, and acquisitions.

They forget Insas just keep cash and poor return on cash keep in bank account. Only lately transfer cash in current account to FD to earn better interest income.

I would have accumulate KSL long ago if only the BOD give some dividend to shareholders.

Mike-tikus,
Just check my MAE.
INSAS RM 58,125.00
EWINT RM 3,000.00

Most likely Mabel after disposal of her free capA warrants, her holding cost of capA is zero.

So are insiders already know whether Bursa Sc reject or agree with conditions CapA latest request for extention in submitting PN17 regularisation plan to 31 June 2024?

With or without aviation and if capA fail to get capA shareholders equity above min RM 40 million and keep asking for extension in submitting PN17 regularisation plan then for sure one fine day Bursa SC will run out of patience with CapA and proceed to suspend and delist capA.

CapA' NUMBER DONT LIE..and it is horrible.

Net current liabialities increase from begining of year
Net current liabilities: RM (8,509,066,000) to as at 30/9/2023
Net current liabilities: RM (12,527,863,000)
Is that a good 9 months for capA?
Will capA not default on the current liabilities in the next 12 months?

As at 31/12/2022 Capital A
Current assets: RM 1,768,954,000
Current liabilities: RM 10,278,023,000
Net current liabilities: RM (8,509,066,000)
Shareholders’ equity RM (5,725,093,000)
Non-controlling interest: RM (3,791,865,000)
Total equity: RM (9,516,958,000)

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)

Repost for you to ponder with leases payment of abt RM 700 million and increasing per quarter can capA make any meaningfull profit in 2024?

Quarter end 30/09/23: Cumulative 9 months
RM: RM
Depreciation on right of use assets: (444,404,000): (1,124,591,000)
Finance cost -lease liabilities: (251,274,000): (656,333,000)

CapA is now like a taxi driver, driving a rental car from a taxi company.
How many passengers a taxi driver must picked up to pay for the car rental before he can earned a living?

For capA even last quarter 89% load factor is still a loss making quarter.

By the way I bought WC just for the fun putting in real money to compete with your Jaks.

Yesterday morning I q sell from 0.45, 0.47. 0.49 but only done 0.45 and afternoon I q sell 0.43 but only done 4,000 units

Mike-tikus,
are you talking about this?
117259398 01/01/2024 Brought Forward 450,000 0.1597
117996497 16/01/2024 Sell 50,000 0.4500
118001189 16/01/2024 Sell 4,000 0.4300

Date Open Range Close Change Volume
16/01/2024 0.39 0.345 - 0.455 0.38 -0.015 (3.80%) 107,057,300
15/01/2024 0.21 0.21 - 0.415 0.395 +0.185 (88.10%) 157,753,400

Insas-WC last two day.
So what is Mike-tikus talk about?
Mikecyc Haha Difference of a day Insas WC volume changes : 450,000 to 396,000 …
17/01/2024 8:54 AM

Mike-tikus,
My last year dividend from Petronm:
4/7/2023 Petronm 63,250.00

By the way I already sold all my Petronm for some trading profit.

Many people rebut me for asking a better dividend by quoting Berkshire Hathaway does not pay dividends to its investors. Instead, the company chooses to reinvest retained earnings into new projects, investments, and acquisitions.

They forget Insas just keep cash and poor return on cash keep in bank account. Only lately transfer cash in current account to FD to earn better interest income.

Leno who hold multi-million WC also do not want company distribute good dividend because dividend give out will dilute the net worth of WC.

The BOD is working hard to give a better dividend but the old man controlling shareholder Dato' Sri Thong object, may be he also see giving out dividend is reducing the net worth of Insas.

By next year BOD will not have any more excuse for not giving better dividend if we the minority shareholders keep pressuring BOD for better dividend.

https://www.insas.net/ar-gm.html
Good morning Jonathan39199,
THE AGM key matter discussed and MSWG Q&A are in above Insas website link.

Posted by TheContrarian > Jan 16, 2024 11:43 PM | Report Abuse
Insas is a counter where we slowly for months accumulate from 75 sen to 85 sen and then wait and wait and wait and wait for the lovely days where price finally spikes above RM1.10 to start taking profits.

I learn from you instead of hold long long till it hit my TP 1.50 I sold some to take profit so that if it drop, I can buy back again.

Posted by angrycat > Jan 17, 2024 5:11 AM | Report Abuse
Nothing special here, it's just CIA will rule Taiwan for another 4 years

Hsiao Bi-khim, who was elected vice president most likely is CIA trained agent and the President will be eliminated if he do somthing endanger USA interest.

Know what is the population number of oversea Taiwanese?
What kind of democratic election when oversea Taiwanense cannot vote due to no postal vote or oversea polling stations for oversea Taiwanese to cast their vote?

Lai Ching-te
Democratic Progressive Party (DPP)
40.1%

Hou Yu-ih
Kuomintang (KMT)
33.5%

Ko Wen-je
Taiwan People’s Party (TPP)
26.5%

If not for DPP planted trojan horse in TPP that oppose and prevent a join tiket (KMT + TPP). DPP already oust from power because of 8 years of imcompetant, mismanagement, corrupt and authoritarian rule.

Still got balance 1,740,000 Insas and 396,000 Insas-WC

Jakarta. Indonesia is sticking to the “One China Policy” as Taiwan elected Lai Ching-Te its president in Saturday's election.

Lai Ching-te, the ruling Democratic Progressive Party or DPP’s presidential pick, secured over 40 percent of the popular votes in the election. The DPP does not acknowledge the One China principle, which sees Taiwan as part of greater China. Indonesia has been maintaining a strict “One China Policy”. And this position remains unchanged despite the election, according to Lalu Muhammad Iqbal, the spokesman of the Foreign Affairs Ministry.

“Indonesia is closely observing the developments in Taiwan. Indonesia will consistently adhere to the One China Policy,” Lalu said via text on Sunday, commenting on the Taiwanese election.

Indonesia last year said it would continue to recognize the One China principle when President Joko “Jokowi” Widodo met with his Chinese counterpart Xi Jinping in Beijing. According to the joint statement, Indonesia recognizes Taiwan as an inalienable part of China. Jakarta also acknowledges the People’s Republic of China as the sole legal government representing the whole of China.

Here I would like to put into record a big thank you to Mike-tikus. You are my lucky star.

Leno told me Insas reward shareholders by RI RPS with free warrants so I subscribe fully with 10% excess application.

So when Mike-tikus promote PA insas-WC shoot past PA and I sold all my WB and RPS and later bought more Insas.

Leno sold all his Insas and all in WC.

6 months back when Mike-tikus promote Jaks and true to my prediction history repeat again WC shoot past Jaks.

Will Leno this time round took some profit from his WC?

Aiyoyo Jaks and CapA hari ini merahkah?
Someone not yet cut lose/cut win his jaks and capA?

Another good day for taking profit but be prepared to cut win.

Finally someone holding 18,759,000 Insas-WC reappear again.

The one-China principle/policy is a basic norm in international relations, a prevailing consensus among the international community and UN.

"avoidance of unilateral efforts to change the status quo.”
Is USA, DPP or China intend to unilateral change the status quo?

The Status Quo
US: One China policy
China: One China Principle and Taiwan is an inalienable part of China

The DPP does not acknowledge the One China principle, which sees Taiwan as part of greater China

Is unofficial and retired politicians whatever they said matter and carried any weight?

This is what US position on Taiwan:

The United States switched diplomatic recognition from Taipei to Beijing in 1979 and has long said it does not support a formal declaration of independence by Taiwan. It does, however, maintain unofficial relations with the self-governed island and remains its most important backer and arms supplier.

Both root can be traced back to India.
One choose to be pseudo Malay and become PM to enrich himself and his family.
One choose to remain to his root and join DAP as ADUN to fight for .......

When will all realised we are all Malaysian regardless of your religion, ethnicity, language and culture?

Repost:
I3 is THE place for exchange of investment ideas/opinions/views and find companionship, enjoy lepaking/chit chat/friendly banter (teasing/joking) with many friends in i3community. So please value the privilege, benefit given to all the i3 community and respect the house rule Terms and Conditions of Use and Community Standards of this portal and be courteous to each other.

Respect begets respect and insult begets insult.

I also hope more people/participants able to handle cyber trolls:

“Happiness and freedom begin with a clear understanding of one principle: Some things are within our control, and some things are not.”

i3ivestor forum comment, house rule (not under our control, so live with it) but you can choose to totally ignore those good for nothing cyber trolls.

In life you are going to come across many type of people so choose who are to be your friends and who to avoid/ignore because your future success will depend on this critical choice

Good morning KCChong,

Just for information:

Under trade receivables include:
Moneylending subsidiary company : Insas Credit & Leasing Sdn Bhd
Paragraph 8.23(2)(e) Appendix 8D(1) - Aggregate amount of outstanding loans as at 31 December 2023
Category of loan receivables Secured Unsecured Total
RM'000 RM'000 RM'000
(a) Corporations 182,943 84,250 267,193
(b) Individuals 16,979 - 16,979
(c) Corporations within Insas Berhad Group - - -
(d) Related parties - - -
Total 199,922 84,250 284,172

Omesti is not an associate company, it is one of the many financial assets at fair value thro' profit and loss
ASSOCIATE COMPANIES (CONT’D)
(f) The summarised financial information in respect of the Group’s major associate companies are as
follows:-
Inari Amertron Company Group
Ho Hup Construction Berhad Group
Melium Holding Sdn Berhad Group
Divfex Berhad
Other associate companies
Total
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
Financial positions as at 30 June 2023
Assets and liabilities
Non-current assets 528,103 536,203 58,853 12,249 200,905 1,336,313
Current assets 2,438,649 994,312 60,262 66,447 307,968 3,867,638
Non-current liabilities (32,672) (391,067) (35,073) (7,122) (34,046) (499,980)
Current liabilities (331,450) (734,688) (50,060) (40,987) (254,115) (1,411,300)
Net assets 2,602,630 404,760 33,982 30,587 220,712 3,292,671
Carrying amount of proportion of the
Group’s ownership 374,407 18,617 14,646 8,259 96,529 512,458
Goodwill on acquisition 65,251
Total: 577,709

Note: MI is mainly non-controlling interest of M&A
Stock [M&A]: M & A EQUITY HOLDINGS BERHAD
Announcement Date 05-Jul-2023
Reference No CS2-05072023-00007
Substantial Shareholder's Particular:
Name INSAS BERHAD
Details of Changes:
Currency -
Date of Change Type Number of Shares
30-Jun-2023 Acquired 10,502,200
Registered Name M & A Nominee (Asing) Sdn Bhd for Montego Assets Limited
Nature of Interest Indirect Interest
Nature of Interest Indirect Interest
Shares Ordinary Shares
Reason Acquisition of shares in the open market.
Total no of securities after change
Direct (units) 206,627,756
Direct (%) 50.49
Indirect (units) 0
Indirect (%) 10.34
Total (units) 1,215,718,665
Total (%) 60.83
Date of Notice 05-Jul-2023

Still need to buy all the WC beside Insas shares. Or you can wait untill WC expired then you make an attempt takeover.
WARRANTS HOLDINGS
as at 29 September 2023
WARRANTS 2021/2026
No. of outstanding warrants : 331,510,380
Exercise price per warrant : RM0.90
Expiry date of warrants : 28 February 2026

Remark: Insas controlling shareholders Dato' Sri Thong and PAC officially hold 32.96%, 0.04% short of triggering 33% threshold of MGO

Just for information:
ASSOCIATE COMPANIES (CONT’D)
(f) The summarised financial information in respect of the Group’s major associate companies are as
follows:-
Inari Amertron Company Group
Ho Hup Construction Berhad Group
Melium Holding Sdn Berhad Group
Divfex Berhad
Other associate companies
Total
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
Financial positions as at 30 June 2023
Assets and liabilities
Non-current assets 528,103 536,203 58,853 12,249 200,905 1,336,313
Current assets 2,438,649 994,312 60,262 66,447 307,968 3,867,638
Non-current liabilities (32,672) (391,067) (35,073) (7,122) (34,046) (499,980)
Current liabilities (331,450) (734,688) (50,060) (40,987) (254,115) (1,411,300)
Net assets 2,602,630 404,760 33,982 30,587 220,712 3,292,671
Carrying amount of proportion of the
Group’s ownership 374,407 18,617 14,646 8,259 96,529 512,458
Goodwill on acquisition 65,251
Total: 577,709

Looking at the volume trade today on Insas-WC most likely some big sharks collecting WC ready for another push on mother share.

But anyway my previous fair TP is RM 1.50 but today I sold some from RM 1.16 to RM 1.23 take some profit off the table.

Any news.
Most likely people have a second look at all the undervalued or value trap stocks: Insas, OSK and KSL are start to move.

Wonder leno already sold his Insas-WC or not?

Stock : 3379WC - INSAS-WC
Ref No.
Date
Transaction Type
Quantity
Price

116223170 01/12/2023 Brought Forward 450,000 0.1597
117259398 01/01/2024 Brought Forward 450,000 0.1597

So Mike how many figures my book gain on Insas-WC

Do you already cut win your capA?

Mike-tikus,
The correct word is take profit not cut win.

Ular,
Can I sell my Insas-WC?
You have not declare who win the competition between my Insas-WC and Mike-tikus jaks.

Aiyoyo TQVM Mike-tikus how much is Insas-WC now?

Is someone collecting to challenge Dato' Sri Thong and PAC holding of 32.96%?