https://www.insas.net/ar-gm.html

You can read: https://www.insas.net/pdf/Appendix%20B_Key%20Matters%20Discussed_60th%20AGM.pdf

Key matter discussed 60th AGM

Dato’ Sri Thong Kok Khee + Dato’ Thong Kok Yoon deemed interest: 25.05 +11.19 - 3.28 = 32.96% Since Dato’ Sri Thong Kok Khee and PAC hold 32.96% and Insas cannot do any SBB that will result in Dato’ Sri Thong
and PAC trigger the 33% MGO threshold provided Dato’ Sri Thong and PAC seek and table a SBB MGO waiver for shareholder approval.

Question:
Why the Board table Ordinary Resolution 7 – Proposed renewal of authority for the Company to purchase its own shares without Dato’ Sri Thong and PAC seeking to table a SBB MGO waiver for shareholder approval?

Answer:The renewal of authority will provide flexibility to the Company for any possible share buy-back activities and to avoid any delay and costs involved in convening general meeting to approve such share
buy-back authority in the event:
(i) the shareholdings of Dato’ Sri Thong and PAC reduce to a level which allows such Share Buy-Back scheme to be undertaken; or
(ii) Dato’ Sri Thong and PAC seek and obtain waiver of MGO from the shareholders and relevant regulatory authorities.

@Tatoonie
Dato’ Sri Thong Kok Khee and PAC now hold 32.96%

As at 30 September 2022
Y.A.M. Tengku Puteri Seri Kemala Tengku Hajjah Aishah Binti Almarhum Sultan Haji Ahmad Shah, DK(II), SIMP holds 121,992 Insas share or 0.02%
Dato’ Wong Gian Kui holds 462,160 Insas share or 0.07% Dato’ Dr. Tan Seng Chuan holds 350,000 Insas share or 0.05%

Question:
Company secretary, since Y.A.M. Tengku Puteri Seri Kemala, Dato’ Wong Gian Kui and Dato’ Dr. Tan Seng Chuan cumulatively hold (0.02 + 0.07 + 0.05) = 0.14% Insas share and since all of them are directors of Insas Berhad hence are Y.A.M. Tengku Puteri Seri Kemala, Dato’ Wong Gian Kui and Dato’ Dr. Tan Seng Chuan be considered as persons acting in concert (PAC) of Dato’ Sri Thong Kok Khee?

Question:
If the answer is yes then Dato’ Sri Thong Kok Khee and PAC now hold (32.96+0.14) = 33.1% above the 33% MGO threshold.

Answer:
Y.A.M. Tengku Aishah, Dato’ Wong and Dato’ Dr Tan have declared that they are not persons acting in concert with Dato’ Sri Thong Kok Khee.

Hamas is holding the whole population of Gaza as collateral damage so that Hamas can perpetual hatred that will keep them in power at the expenses of peace and doom the whole Palestine population into continuing vicious cycle of violence and war

The_JQuestion,

Know the debt restructure plan approved by shareholders at EGM.
Did AAX carried out the plan fully?

Resolution passed at the EGM.
SPECIAL RESOLUTION
PROPOSED REDUCTION OF 99.9% OF THE ISSUED SHARE CAPITAL OF AAX PURSUANT TO SECTION 116 OF THE COMPANIES ACT, 2016 (“ACT”) (“PROPOSED SHARE CAPITAL REDUCTION”)

ORDINARY RESOLUTION 1
PROPOSED CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN AAX (“AAX SHARES”) INTO 1 AAX SHARE (“PROPOSED SHARE CONSOLIDATION”)

ORDINARY RESOLUTION 2
PROPOSED RENOUNCEABLE RIGHTS ISSUE OF NEW AAX SHARES (“RIGHTS SHARES”) TO RAISE GROSS PROCEEDS OF UP TO RM300.0 MILLION (“PROPOSED RIGHTS ISSUE”)

ORDINARY RESOLUTION 3
PROPOSED ISSUANCE AND ALLOTMENT OF NEW AAX SHARES TO RAISE GROSS PROCEEDS OF UP TO RM200.0 MILLION BY WAY OF SUBSCRIPTION BY PLACEES (AS DEFINED HEREIN) (“PROPOSED SHARE SUBSCRIPTION”)

And anything wrong Bursa/SC reject the AAX’s application for the Proposed Relief & PN17 Upliftment on question of unsettled RM 600 million refund?

Mavcom to act on AirAsia X if ticket purchases not reimbursed accordingly, says customers should not be classified as creditors
https://www.theedgemarkets.com/article/mavcom-act-aax-if-ticket-purchases-not-reimbursed-accordingly-says-customers-should-not-be

KUALA LUMPUR (Nov 12): The Malaysian Aviation Commission (Mavcom) has urged AirAsia X Bhd to reimburse the tickets for customers whose flights were cancelled, in response to the airline’s action of treating its customers as creditors and repay them only 0.5 sen for every ringgit paid.

The Nov 12 statement came soon after all three groups of AAX creditors passed AAX’s restructuring plan, which will see AAX pay just 0.5% of some RM33.65 billion in liabilities, as well as terminate all of the airline’s existing contracts.

AAX’s liabilities categorised as tickets sold to passengers and travel agents amounted to just under RM600 million, according to details of the airline’s restructuring proposal. AAX’s proposal would see only under RM3 million paid back from the initial amount.

In a statement, Mavcom said it will not hesitate to exercise its powers under the Malaysian Aviation Commission Act 2015 (Act 711), if AAX fails to reimburse the affected travel consumers accordingly.

Palestine is not Hamas.
Hamas is not Palestine.

There are Isreal Palestine, Gaza Palestine, West Bank Palestine, Arab Palastine and some say Malaysian Palestine

No all Palestines support Hamas and not all Hamas are Palestine, there are many non Palestine Hamas and some say very soon we are going to have many Malaysians Hamas(the warrior caliphs)

qqq3,
Today Arab world view Hamas and Iran pose the greatest threat to their national security than Israel. They will be very happy if Israel annihilate Hamas, Iran and Hezbollah

Death is the final destiny of all form of life. We live or struggle to survive day by day not just to achieve death but to build a better tomorrow for our children. The purpose of life is not to grab all the power/wealth for yourself but to leave behind a better world for our future generation. A Chinese saying, “death can be as light as a feather or as heavy as a mountain.” But death had to bring a meaning, a purpose of leaving behind a better world and this better world can only be achieved through peace-making.

The notion that Hamas have no other means and was forced into the martyrdom of committing suicidal human bombers/combatants or fire rockets into Israel is a totally misleading, self- glorified tactic designed by irresponsible politicians to brainwash his people with hatred and thus continuing the vicious cycle of violence and war and support for these irresponsible politicians. There is always the option of forgiveness and building peace.

And to those neighboring nations that continue to supply arm/rockets to those politicians, may I say that you are not helping the Palestine people but you are in fact helping the killing of Palestine people; so please stop the arm supply.

There are no winners in war, only death victims, the death of innocent civilians victims, the death of misguided combatants that believe they are martyr and will be rewarded heavenly in heaven and the death of politicians that are either totally evil and irresponsible or are blinded by his own hatred/circumstance that they cannot see the forest for the trees. Deaths are always the easy way out but livings are the harder part and I appeal to all the Palestine people please lives for the sake of your children. Have the life-long courage to live and to forgive. I am not asking you to be as magnanimous as the late Mr. Nelson Mandela but try to be an average European citizen that after century of bitter and apocalyptic war and trying to kill each other they now live in peace cleared of hatred and what remains is life-long forgiveness and distant memory of war

The Great Law (Karmic Cycle)

Sometimes called “the Law of Cause and Effect”, the Great Law tells us that in order to get the things we want; we must also embody those things.

In other words, whatever you give, you shall receive; whether it is positive or negative. So, if you want love in your life, be loving. If you want to enjoy financial abundance, be generous. And if you want to have honest, open relationships then you need to offer authenticity and honesty to the people you care about as well.

The Law of Change

When you think about the Law of Change, you connect with the message that the universe gives us what we need. So, you will find that history continually repeating itself until you demonstrate that you’ve learned what you need to in order to create a different future. If you notice that you seem to be stuck in a loop, this is because there’s something fundamental that has not yet been addressed.

Consider a war which has been going on for decades or centuries. The people fighting the war today are not those who started the war. If you think negative thoughts and perform destructive actions, the karmic cycle of negativity and destruction will continue. People need to make a conscious decision to change destructive patterns of behavior. They need to spread loving kindness and good intentions to break the endless cycles of war. It requires higher levels of thinking and similar spiritual values. Everyone needs to make a personal contribution to accomplish the task of bringing about peace in the universe.

School children need to be taught that pen is migtier than sword.

Please fight the unjust and injustices with the mighty pen/ICT in the court of world opinion and win over the Hearts and Minds of the world to your JUST cause.

Please give Peace a chance and free long-suffering Palestine People from the “ENDLESS CYCLE OF HATRED & WAR"

“World peace through non-violent means is neither absurd nor unattainable. All other methods have failed. Thus we must begin anew. Non-violence is a good starting point. Those of us who believe in this method can be voices of reason, sanity, and understanding amid the voices of violence, hatred, and emotion. We can very well set a mood of peace out of which a system of peace can be built.— Martin Luther King Jr.”

General Meeting
Date & Time: 27-Nov-2023 11:00
Depositor Date: 17-Nov-2023
Venue: Online Meeting

This year still online AGM.
Will prepared my send in advance INSAS AGM meeting questions when 2023 Annual report is out.

No wonder PKR deputy president Rafizi Ramli suffered a heart attack recently watching what PMX is trying to do to himself and the country.

This is what happen when PMX try his grandstanding and play-acting to the crowd as if this is another ceramah for a by-election that he can talk anything without giving prove.


"If the 'threat' in question really exists, as the head of the government, he should take the proper steps to summon the ambassador or representative of the country involved to convey Malaysia's objection, and not make a public statement without any explanation," he said, dismissing Anwar's claim as an attempt to prop up his image in the wake of waning public support.

VETERAN business journalist and blogger Datuk A. Kadir Jasin has hit out at the slew of overly optimistic projection of the Malaysian stock market and the ringgit exchange rate as 2023 is drawing to a close.

Referring to the latest market view by Capital Dynamics Sdn Bhd managing director Tan Teng Boo that the Malaysian stock market will return to strength soon, Kadir described such view as merely “talking up the market” or to inject enthusiasm in the market.

“I wonder if market view of this veteran analyst can become a reality or if he is a fortune teller with magical binoculars. Likewise, MIDF Research had on Oct 3 predicted that our ringgit would strengthen to close at RM4.30 by end-2023,” penned the national journalism laureate on his Facebook page.

No wonder no answer from you know who.

Johnchew5
Johnchew5
Due to repeated abuse posts, this account has been suspended from posting to the i3investor portal until 08/12/2023. Please refer to the Terms and Conditions of Use and Community Standards of this portal.

Bursa moved the goal posts for AirAsia X with new requirements, sources say
By Kang Siew Li | theedgemalaysia.com | 2023-10-25 16:04:53
"Under Bursa Malaysia’s guidelines, a company can apply to exit [the] PN17 status, following two consecutive quarters of net profit after completion of its financial regularisation scheme. However, AAX is now required to show four consecutive quarters of net profit due to concerns about the sustainability of its business,” an analyst pointed out.

Most likely I will write to theedge editor this weekend the headline "Bursa moved the goal posts for AirAsia X with new requirements" is uncalled for and wrong in fact as AAX never submit any PN17 regularisation plan to start with.

And theedge argument that it was Bursa fault causing the flight of high profile companies such as Grab Holdings Ltd to the US is wrong in fact and figure. Imagine if Grab was listed in Bursa how many billions investors money already lose in Grab?

Further more what theedge implied that the deal of the proposed disposal of Capital A’s aviation assets to AAX will proceed, despite recent events is good for AAX is totally wrong as AAX will immediately default payment on the obligation of net current liabilities transfer from capA .

As at 30/6/23:
CapA
Net current liabilities of RM (11,938,731,000)
Shareholders' equity RM (8,390,820,000)
Total equity RM (10,304,487,000)

https://klse.i3investor.com/blogs/Sslee_blog/2019-05-10-story-h1477422051-Eighth_Wonder_of_the_World_I_have_a_Dream.jsp

Eighth Wonder of the World: “I have a Dream”
Author: Sslee | Publish date: Fri, 10 May 2019, 9:01 PM

Good morning Income,
Maybe this is me, like to teach that is why my subordinates call me sir and the boss like to joke that if he cannot convince the customers/visitors he will call me to explain to confuse the customers/visitors.

Serbadk Pak Karim think he is too big too fall and go on the offensive against external auditor, Bursa and SC with media warfare. Look what happen to Serbadk now.

kahfui1221 thought it would plummet to Rm1 or below after the regularization plan was rejected ..

AAX did not submit any PN17 regularization plan but has the audacity to ask Bursa

On 20 July 2023, AmInvestment Bank Berhad had, on behalf of the Company submitted an application to Bursa Securities for the following:-

(i) a relief from having to submit and implement a regularisation plan as required under Paragraph 8.04(3)(a) of the Main Market Listing Requirements of Bursa Securities (“Listing Requirements”); and

(ii)an upliftment of AAX from being classified as an affected listed issuer under Practice Note 17 of the Listing Requirements

This announcement is dated 2 August 2023

Bursa has every right to to reject AAX’s application for the Proposed Relief & PN17 Upliftment and insist AAX to submit PN 17 regularisation plan

On behalf of the Board of Directors of AAX, AmInvestment Bank Berhad wishes to announce that Bursa Securities had, vide its letter dated 18 October 2023, confirmed that it has resolved:

(i) to reject the Company’s application for the Proposed Relief & PN17 Upliftment; and

(ii) to grant the Company an extension of time up to 17 January 2024 to submit its regularisation plan to the regulatory authorities.

This Announcement is dated 19 October 2023.

Post removed.Why?

KUALA LUMPUR (Nov 12): The Malaysian Aviation Commission (Mavcom) has urged AirAsia X Bhd to reimburse the tickets for customers whose flights were cancelled, in response to the airline’s action of treating its customers as creditors and repay them only 0.5 sen for every ringgit paid.

The Nov 12 statement came soon after all three groups of AAX creditors passed AAX’s restructuring plan, which will see AAX pay just 0.5% of some RM33.65 billion in liabilities, as well as terminate all of the airline’s existing contracts.

AAX’s liabilities categorised as tickets sold to passengers and travel agents amounted to just under RM600 million, according to details of the airline’s restructuring proposal. AAX’s proposal would see only under RM3 million paid back from the initial amount.

In a statement, Mavcom said it will not hesitate to exercise its powers under the Malaysian Aviation Commission Act 2015 (Act 711), if AAX fails to reimburse the affected travel consumers accordingly

Compare and contrast what MAG and AAX done and capA yet to do.

KLIA, 13 May 2022: Malaysia Aviation Group (MAG) has emerged as the winning entity for ‘Restructuring Deal of the Year’ at the Airline Economics’ The Aviation 100 Deals of the Year Awards 2022 following the successful restructuring exercise, which saw the Group reduce its liabilities of over RM15 billion and eliminating RM10 billion in debt mounted from decades-long issues of its balance sheet.

The ‘Deals of the Year Awards’ highlight the successful aviation finance and leasing transactions undertaken across the globe, with the 2022 edition receiving an excess of 150 nominations; highlighting the record levels of financial support airlines and lessors have received as it undergoes a long and winding recovery journey of the industry.

Having navigated under unfavourable circumstances during the COVID-19 pandemic, MAG took proactive measures to reduce costs, preserve cash, reset its balance sheet, transform the business dynamic to realign with its long-term aspirations and ensure business survivability by embarking on a Group-wide restructuring exercise in 2021.

Through this effort, the Group were able to strengthen its balance sheet by securing over RM15 billion savings in liabilities and equity restructuring through secured savings over the life of key aircraft leasing and maintenance contracts; addressing a large proportion of debt on its capital structure; secured significant liquidity support from creditors through payment deferrals and moratoriums; variabilised fixed-cost structure on aircraft operating leases and a number of maintenance contracts in 2021/22; and other cost saving efforts.

Group Chief Executive Officer of MAG, Captain Izham Ismail, said, “We are honoured to have been recognised as the ‘Restructuring Deal of the Year’. This is truly a testament to the hard work, long hours, sacrifice, and ultimate passion for the organisation and national brand. The restructuring was driven by a group of extraordinary individuals who worked tirelessly to keep this organisation on its feet at a time where many like us struggled to stay afloat, affecting lives and livelihoods. With the restructuring behind us, we can now focus on the next crucial task as we act on our Long-Term Business Plan 2.0 (LTBP 2.0) and target to break even by 2023. We will continue to optimise our operating cost, enhance our customer service delivery, and facilitate safe and seamless travels so we can continue to carry our duties as the flag bearer in connecting people and places.”

With global borders steadily reopening, the Group is seeing a strong uptake in ticket sales and healthy load factors as it steadily recovers from the impacts of the pandemic. The Group is also on the path to realise its LTBP2.0 aspirations of becoming Asia’s Leading Travel and Aviation Services Group to deliver customised, end-to-end solutions for the travel ecosystem for enhanced connectivity, and improved customer experience, that is economically viable for the sustainability of the organisation.

Dear SC and Bursa,

I refer to below link:
https://www.sc.com.my/api/documentms/download.ashx?id=b59a0f5d-c414-4c27-b1c2-37ad15072d47

Annual General Meeting CORPORATE GOVERNANCE CHECKLIST FOR SHAREHOLDERS
Co-author by SC, Institutional Investors Council Malaysia and MSWG

As a minority shareholder I had played my role and held up my end of the bargain in holding BOD/Management responsible, accountable and answerable at AGM Q&A as espoused by the above link.

I am asking now, the SC/Bursa as market regulator and investigator please exercise your regulator and investigation power entrusted to SC/Bursa to call up the related party to investigate without prejudice HRC’ BOD have failed to carry out their fiduciary duty and in breach of Companies Act 2016: Section 213: (1) A director of a company shall at all times exercise his powers in accordance with this Act, for a proper purpose and in good faith in the best interest of the company.

Dear Mr. Surinderdeep Singh Mohindar Singh (Independent non executive director/The Chair Board Whistleblowing Committee),

Without prejudice, I afraid I would not be getting any reply from you since the Top Management already overstep your authorities as Independent non executive director/The Chair Board Whistleblowing Committee and reply on your behalf (with/without your consent) that all whistle-blower complaints (I assume included my whittle-blowing complaints) have been thoroughly investigated without evidence (included two invoices send to me by anonymity sender) of any malpractices and mismanagement. The year-end accounts have also been audited by our external auditors. As such, we have nothing more to add.

Here I can only repost what I say before about the best Independent Non-Executive Directors who are reflective and thoughtful in their approach, ask the tough questions and offer considered advice based on sound judgment.

Successful Independent Non-Executive Directors must maintain integrity and have strong principles. They insist that the right thing is done for the company.

Part of my last email I send to HRC before I sold my last 500 units of HRC and walk out as shareholder and never look back.

Any responsible, fair-minded and right-minded BOD will be very alarmed and concerned with HRC’ 2022 financial report (Continues 4 quarters derivative financial instruments loss with cumulative loss: RM 1,697,473,000. Operation loss in quarter 3 and quarter 4 whereas regional refinery: In the third quarter alone, Hyundai Oilbank’s operating profit skyrocketed by 226 percent on-year to 2.8 trillion won. Adding the fourth quarter results, last year’s cumulative profit will increase even more, sources said) and turnover rates rose to 15.90% or 52 employees in FY2022 from 11.80% (40 employees) in FY2021

Shouldn’t BOD leave no stone unturned to find out what has gone wrong and what needs to be done to improve the SOP and prevent the reoccurrences instead of defending the indefensible on technicality as below?

“The audited financial statements reflect a true and fair view and there is no omission, misconduct, malpractice and/or impropriety detected.

We would like to reiterate that our decision-making process is guided by a strict code of ethics and compliance with our company’s policies and procedures, which include a thorough evaluation process to ensure that we obtain the best value for our purchases while maintaining high standards of quality and reliability to our customers. We remain committed to always operate with integrity and with the best interests of our shareholders and stakeholders.

Both, the Whistleblowing Committee as well as the Company’s external auditors i.e., PwC have reviewed the existing hedging policy, internal controls and activities. There is no malpractice, impropriety, misconduct, and/or omission detected.”

With all fairness and without prejudice if Top Management and BOD do not see anything wrong on the above and the need of post mortem to improve on company’s policies and procedures then to my opinion their action is the one that will impede the Company and its Management from carrying out their business in a smooth manner that should turn around the business into profitability, which could in turn benefit the company, its employees and the company’s valuation thus benefit the shareholders at large.

I think I am one of the few people that use real name in i3blog as I standby what I wrote and I wrote the truth the whole truth and nothing but the truth.

Quote, "I welcome everyone to post their diverse opinions/views on investment in i3 so that all can benefit from the diverse information and make their informed-investment decision. But nowadays I am deeply saddened and disturbed by many i3 comments: Full of hatred, falsehood, cursing, trolling, provocation, insulting each other, name-calling and worst of all twisting and turning other people word into cyber sexual harassment.

Mikecyc, you are what you are; the lowest of the low, the worst of the worst, the most disgusting, despicable and utterly distasteful person I ever come across. You have cross the red line onto indecency with your twisting and turning other people word into cyber sexual harassment" unquote

Can Mike-tikus/Johnchew1-5 understand what is happening in Jaks and what will happen to jaks?

Repost:
Did Mike-tikus/Johnchew1-5 know share of profit from JV/associate is just an accounting profit and did not contribute to cashflow, revenue nor operating profit.

With 25% equity and 75% loan and suden loan rapayment cut short to 10 years term loan and increase USD interest rate, JHDP will have cashflow problem and unable to pay anymore dividend till year 2031.

Repost:
Jaks
FY 2022: FY2021
RM'000, RM'000
Revenue 89,794 108,145
Cost of Sales(74,650) (89,361)
Gross Profit 15,144 18,784
Other Operating Income 3,709 4,535
Other Operating, Administrative Expenses (113,524) (111,758)
Operating Loss before finance cost (94,671) (88,439)
Finance cost (24,383) (21,980)
Operating Loss after finance cost (119,054) (110,419)
No Wonder yearly issued either RI or PP to get money from shareholders to pay Other Operating, Administrative Expenses and Finance cost...

Can sooooooo stupiiiiiiid someone=Mike-tikus/Johnchew1-5 really understand brokerage and PP and IPO advisory, sponsor and underwritter services provide by M&A securities sdn bhd?and why in 2021 Given more than RM 20 million as Staff Expenses after RI?

Repost:
Is that sooooooo stupiiiiiiid someone=Mike-tikus/Johnchew1-5 cannot read nor understand what I posted on:
M&A Securities SDN BHD financial highlight: A 100% holding of Insas before RTO of SYF.

FYE 30 June
2019 2020 2021 2022
RM’000 RM’000 RM’000 RM’000
Revenue 26,314 36,978 68,906 48,541
Other items of income
15,791 18,646 33,291 28,900
Items of expense (33,353) (42,855) (77,420) (54,632)
PBT 8,752 12,769 24,777 22,809
PAT 6,552 9,172 18,764 17,916

Can anyone understand english kindly explain to sooooo stupiiiiiid why staff expense increase in 2021.
2020 item of expenses RM 42.855 million. PBT RM 12.769 million
2021 item of expenses RM 77.420 million. PBT RM 24.777million

Insas dividend:
Waiting for dividend announcement on DEC 2023. Expect more than 2.5 cents

Hopefully this year AGM will be a physical one as I intend to attend the AGM and put forward my case for a better, fairer and equitable dividend.

Ann. Date
Ex Date
Type
Subject
Amount
15-Dec-2022 30-Dec-2022 DIVIDEND Interim Dividend RM 0.0250 Dividend
29-Nov-2021 30-Dec-2021 DIVIDEND Interim Dividend RM 0.0250 Dividend
07-Dec-2020 21-Dec-2020 DIVIDEND Interim Dividend RM 0.0200 Dividend
06-Dec-2019 20-Dec-2019 DIVIDEND Interim Dividend RM 0.0200 Dividend
04-Dec-2018 17-Dec-2018 DIVIDEND Interim Dividend RM 0.0200 Dividend

By the way Jaks repeat PP at price lower than NTA actually benefit who? and why do so much harm to shareholders with no end PP at lower and lower price?

RI of Insas-PB with free Insas-WC is a way to reward shareholders. You can either sell your entitlement or subscribe for the RI
I subscribe for my RI entitlement with 10% excess application and later sold the WC for a 6 digit gain.

AirAsia X, Capital A to continue on aviation asset consolidation’
According to sources, the proposed disposal of Capital A’s aviation assets to AAX will proceed, despite recent events.

I just wonder do Kang Siew Li | theedgemalaysia.com | 2023-10-25 16:04:53 know what is he talking?

Even if capA dispose Capital A’s aviation assets (with the liabiliaties) for RM 1.00 to AAX. AAX will immediately default in paying the current liabilities. AAX will not be capable as capA to raise billion in debt and equity to continues the ponzi scheme.

As at 30/6/23:
CapA
Net current liabilities of RM (11,938,731,000)
Shareholders' equity RM (8,390,820,000)
Total equity RM (10,304,487,000)

AVIATION
In 3Q2023, AirAsia Malaysia, AirAsia Thailand, AirAsia Indonesia and AirAsia Philippines (the “Consolidated Airlines”) continued to post a strong load factor of 89%, carrying 14.7 million passengers on the back of 16.5 million seats capacity on 152 operating aircraft.

AVIATION
In 2Q2023, AirAsia Malaysia, AirAsia Thailand, AirAsia Indonesia and AirAsia Philippines (the “Consolidated Airlines”) posted a healthy load factor of 88%, having carried 14.2 million passengers, almost double the number year-on-year (“YoY”). Across the group, 16.2 million seats were available, operated by 146 of the 166 activated aircraft.

So what is Q to Q increase?

Revenue/ASK: Q2 USD 4.22 cents cumulative 6 months USD 4.28 cents
Cost/ASK: Q2 USD 5.01 cents cumulative 6 months USD 4.72 cents
Cost/ASK ex fuel: Q2 USD 3.32 cents cumulative 6 months USD 2.95 cents.

Q2 at 88% load factor aviation make lose will Q3 at 89% load factor aviation make a profit?
Eagerly look forwad to Q3 financial report at the end of next month.

In the fourth quarter of 2022, AAX made a write-back in provision of RM600 million for travel vouchers to passengers and travel agents, which had resulted in a sharp increase in net profit of RM153.48 million for the December 2022 quarter, from RM25.09 million in the September 2022 quarter.

So Bursa SC is trying to do the job of Mavcom/Transport Minister telling AAX Bursa SC do not agree with AAX made a write-back in provision of RM600 million for travel vouchers to passengers and travel agents.

KUALA LUMPUR (Nov 12): The Malaysian Aviation Commission (Mavcom) has urged AirAsia X Bhd to reimburse the tickets for customers whose flights were cancelled, in response to the airline’s action of treating its customers as creditors and repay them only 0.5 sen for every ringgit paid.

The Nov 12 statement came soon after all three groups of AAX creditors passed AAX’s restructuring plan, which will see AAX pay just 0.5% of some RM33.65 billion in liabilities, as well as terminate all of the airline’s existing contracts.

AAX’s liabilities categorised as tickets sold to passengers and travel agents amounted to just under RM600 million, according to details of the airline’s restructuring proposal. AAX’s proposal would see only under RM3 million paid back from the initial amount.

In a statement, Mavcom said it will not hesitate to exercise its powers under the Malaysian Aviation Commission Act 2015 (Act 711), if AAX fails to reimburse the affected travel consumers accordingly

Remember AAX did not refund passagers for cancel flights and later classified the already paid fare passagers and travel agents as creditors and bully them to accept 0.5 sen for every dollar owed debts restructure.

Whose interest does it serve with the suspension?
Maybe to prevent more ignorance people falling into the trap of Stony ponzi scam.

Critics also questioned the “threat” to suspend and delist AAX, if it fails to submit a regularisation plan to lift its PN17 status before Jan 17, 2024. Bursa Securities may suspend the trading of AAX on the sixth market day after the date of notification of suspension and may delist the company, subject to the company’s right to appeal against the delisting.

“The issue is AAX doesn’t have a regularisation plan because it is making money. It is not going to submit a plan because there is no other plan other than to run its airline business,” said a source.

“Will Bursa Securities follow through on threats to suspend and delist AAX if no regularisation plan is submitted by Jan 17, 2024? Is it an empty threat? If it is an empty threat, then why are they being so difficult when the airline is making money and is able to pay its debts? Whose interest does it serve with the suspension?"

The source believes that it is unlikely for Capital A Bhd to be able to exit the financially distressed status if AAX doesn’t get uplifted from PN17. Capital A had recently asked for a further three-month extension until Dec 31 this year to submit its regularisation plan to the regulatory authorities. “So will they delist Capital A too? Bursa Securities’ job is to help companies get out of PN17. By interpreting regulations differently at different times, and in many ways arbitrarily, they are opening the doors for Malaysian companies to list elsewhere. Already, Malaysia is not the best capital market by way of valuation,” the source said.

The clock is ticking down:

As at 30/6/23:
Net current liabilities of RM (11,938,731,000)
Shareholders' equity RM (8,390,820,000)
Total equity RM (10,304,487,000)

And can't make money flying people:
Revenue/ASK: Q2 USD 4.22 cents cumulative 6 months USD 4.28 cents
Cost/ASK: Q2 USD 5.01 cents cumulative 6 months USD 4.72 cents
Cost/ASK ex fuel: Q2 USD 3.32 cents cumulative 6 months USD 2.95 cents

"Fernandes has an extraordinary ability to energise his investor audience.”
Topless then bottomless might do the trick.

https://www.channelnewsasia.com/business/airasia-parent-plans-raise-more-1-billion-debt-equity-ft-3871336

Malaysian entrepreneur Tony Fernandes is planning to raise over US$1 billion in debt and equity for his Capital A conglomerate (formerly AirAsia). He is also preparing to list some of its businesses through a special purpose acquisition company (spac) or a blank-cheque company in New York, according to an article in the Financial Times.

Fernandes was said to have struck a deal with Nasdaq-listed spac Aetherium Acquisition. He is also said to list several businesses – including a new business extending the AirAsia brand – through Aetherium in 2024, according to the paper’s sources.

Capital A has been classified as a distressed company by the Malaysian government in 2021 although the company has asked Bursa Malaysia to lift its classification in July this year.

The deal with Aetherium is expected to be finalised in early 2024, according to the Financial Times’ source. The spac closed its US$115 million ($157.4 million) initial public offering (IPO) of 11.5 million units in January 2022.

“Capital A still has a lot of debt, which is concerning, but operationally things are going quite well. This year looks like it will be better than the year before Covid,” says Aletheia Capital analyst Nirgunan Tiruchelvam.

“US capital markets are generally much more tolerant of finances like this than markets in Asia,” he adds. “Fernandes has an extraordinary ability to energise his investor audience.”

And capA USD borrowing, lease liabilities, maintenance and etc already contributed to Foreign currency translation differences accounting book lose of RM (1,576,850,000) as at Q2 end 30/6/2023

Post removed.Why?

By the way Petronas Chemicals Group's RM 10billion investment in Perstorp (foreign currency assets) already contributed to Foreign currency translation differences accounting book gain of RM 920 million in Q2 end 30/6/2023

Comprehensive fundamental investing.
Will people listen?
Only in Malaysia a PN17 company like capA third request to postpone submitting PN17 regularisation plan to 31/12/2023.

As at 30/6/23:
Net current liabilities of RM (11,938,731,000)
Shareholders' equity RM (8,390,820,000)
Total equity RM (10,304,487,000)

And can't make money flying people:
Revenue/ASK: Q2 USD 4.22 cents cumulative 6 months USD 4.28 cents
Cost/ASK: Q2 USD 5.01 cents cumulative 6 months USD 4.72 cents
Cost/ASK ex fuel: Q2 USD 3.32 cents cumulative 6 months USD 2.95 cents

But retail investors or maybe equity fund managers (icap TTB) still holding or buying capA.

Market Cap: 3,519 Million
NOSH: 4,214 Million
Avg Volume (4 weeks): 11,603,847
4 Weeks Range: 0.80 - 1.01
4 Weeks Price Volatility (%): 16.67%
52 Weeks Range: 0.56 - 1.12
52 Weeks Price Volatility (%): 49.11%

Jaks is now so short of cash that they even cannot tender for any more jobs so ALP just collect toilet paper MOU as his acheivement to collect more LTIP free grant.

Posted by StingRay > Oct 25, 2023 8:40 AM | Report Abuse
Aiyo... MOU cancel kah? Use PP to raise fund. Say want to do this project that project. Got MOU. Now MOU cancel, money to raise fund mana pergi? 🤣

Just for the information I already sold all my Jaks for my free beer and lobster.

Repost on Jaks Q3 and Q4 update:

Since jaks granted 70,500,000 ordinary shares (“LTIP Shares”) SG. Share grant on 10 july 2023 hence RM12.69M of LTIP expenses will only be charged to Q3 2023 under other operating, administrative expenses.
Hence Q3 2023 NP will be Q to Q drop

Based on past 4 years norm jaks Q4 2023 another Q to Q drop due to impairment on trade and other receivables and impairment loss on goodwill.

This is what happen the past 4 years.
12 months end 31/12/22: 12 months end 31/12/21
RM'000: RM'000
Impairment Loss on Goodwill 29,000: 23,636
Allowance for impairment of receivables 22,833: 20,348

12 months end 31/12/20: 12 months end 31/12/19
RM'000: RM'000
Impairment Loss on Goodwill 52,000: 20,365
Allowance for impairment of receivables 69,507: 12,490

Repost:
Did Mike-tikus/Johnchew1-5 know share of profit from JV/associate is just an accounting profit and did not contribute to cashflow, revenue nor operating profit.

With 25% equity and 75% loan and suden loan rapayment cut short to 10 years term loan and increase USD interest rate, JHDP will have cashflow problem and unable to pay anymore dividend till year 2031.

Repost:
Jaks
FY 2022: FY2021
RM'000, RM'000
Revenue 89,794 108,145
Cost of Sales(74,650) (89,361)
Gross Profit 15,144 18,784
Other Operating Income 3,709 4,535
Other Operating, Administrative Expenses (113,524) (111,758)
Operating Loss before finance cost (94,671) (88,439)
Finance cost (24,383) (21,980)
Operating Loss after finance cost (119,054) (110,419)
No Wonder yearly issued either RI or PP to get money from shareholders to pay Other Operating, Administrative Expenses and Finance cost...

Repost:
Dividend from Bplant year 28/04/2021 to 22-03-23
28/04/2021 Bplant 2,500.00
30/06/2021 Bplant 300.00
30/09/2021 Bplant 8,050.00
30/12/2021 Bplant 8,050.00

22-03-22 Bplant 23,200.00
24-06-22 Bplant 46,866.00
27-09-22 Bplant 16,912.50
22-12-22 Bplant 6,600.00

22-03-23 Bplant 16,500.00

Just for the record the dividend earned from Bplant as above and my trading gain:
Sold: RM 1,182,039.67
Bought: RM 1,119,118.55
Trading Gain: RM 62,921.12

So Mike-tikus/Johnchew1-5 red-eye how many digits I gain from my 2 years holding in bplant and his 6 months Jaks day and night promotion only gain him how many digit?

Just another tips for you.
Jtiasa
Year end 30/6/23: 30/6/2022
RM' 000
cash flows from operating activities 296,439: 322,551

Q to Q and Y to Y FFB production increase:
Fresh Fruits Bunches (MT)
Quarter end 30 Sept 2023
359,740.00
Quarter end 30 Sept 2022
263,948.00
Quarter end 30 June 2023
224,649.00

I top up more and now already bookgain of 5 digits.

It is so easy for Western world to talk the talk.
Tell me what will the Western world do if their neighbour is Afghanistan rule by Taliban.