When someone tell you don't ask questions just buy, it can only mean he is desperate to dump his holding to you.

So keep asking questions and think, never swallow snake oil saleman story hook, line, and sinker.

As at 30/6/2023: As at 31/12/2022
RM ‘000: RM’000
Capital and reserves:
Share capital: 8,659,652: 8,654,977
Merger deficit: (5,507,594): (5,507,594)
Other reserves: 266,894: 204,020
Foreign exchange reserve: (1,657,962): (153,308)
Accumulated losses: (10,151,810): (8,923,188)
Equity:
Shareholders’ equity: (8,390,820): (5,725,093)
Non-controlling interest: (1,813,867): (3,791,865)
Total equity: (10,204,687): (9,516,958)

2Q2023 Current liabilities RM 14,208,631,000, current assets RM 2,269,900,000 thus net current liabilities RM (11,938,731,000), CapA is an insolvent company.

https://theedgemalaysia.com/article/airasia-group-recognises-rm299m-loss-japan-associates-bankruptcy-proceedings

KUALA LUMPUR (Feb 24): AirAsia Group Bhd said today the budget airline has recognised a loss of US$74.11 million (RM299.34 million) in the second half of 2020 (2H2020), as a result of 33%-owned associate AirAsia Japan Co Ltd’s (AAJ) bankruptcy proceedings due to the impact of the Covid-19 pandemic.

In a statement to Bursa Malaysia today, AirAsia Group said AAJ has commenced its bankruptcy proceedings as ordered by the court today.

"As a result of the bankruptcy proceedings, the company (AirAsia Group) has recognised a loss of US$74.11 million (equivalent to RM299.34 million) in the second half of 2020, due to financial assistance in the form of inter-company transactions and loans being written off as these amounts were deemed to be irrecoverable.


"The company also incurred US$5.18 million in the fourth quarter of 2020 and first quarter of 2021 for expenses related to the aircraft de-registration to move three aircraft from Japan to Malaysia.

"Further announcement(s) will be made in due course on the particulars of claim and financial impact to the company, if any, under the bankruptcy proceedings,” AirAsia Group said.

AirAsia Group’s Bursa filing today followed the group’s announcements on Oct 5, 2020 and Nov 17, 2020 on AAJ's cessation of operations and filing of bankruptcy proceedings respectively due to the impact of the Covid-19 pandemic on the global aviation sector.

On Oct 5, 2020, AirAsia Group said AAJ's board of directors had on that day notified AirAsia Group on the AAJ directors’ decision to cease AAJ's operations with immediate effect.

"We respect and have agreed to the decision made by AAJ as this would reduce the cash burn of AAJ and the company (AirAsia Group) amid the highly challenging operating conditions in Japan which have been aggravated by the Covid-19 pandemic that has plagued the world since early this year,” AirAsia Group said then.

https://klse.i3investor.com/blogs/Sslee_blog/2019-12-28-story-h1481948233-Food_of_thought_for_the_coming_year_2020_Karma.jsp

Food of thought: Karma

The Buddha defined karma as intention; whether the intention manifested itself in physical, vocal or mental form, it was the intention alone which had a moral character: good, bad or neutral. As one intends and acts, so does one become: one becomes virtuous by virtuous action, and evil by evil action

My intention in capA is to rebut fanciful/half truth/totally fault financial data interpretation by Stony fansi/pump and dump syndicate members to misled/conned people.

Note: Presented with same set of financial figure/data most likely than not Company IR/Management ,IBs Analyst and those with hidden agenda/vested interest will interpret the figure/data not by their professional unbiased opinion to tell the truth and the whole truth but by their biased view bending the truth to accommodate company , IBs and those with hidden agenda/vested interest narrative as fact

This is why there is this saying “Figure don’t lie, but liars figure”

So what is your intention to make your comment in i3 capA forum here?

I3lurker,
Most likely all this while (repeat request for extension of PN17 regularisation plan) is done purposely to get capA delist from Bursa.
Stony can then list his Move and ADE in New York for USD 10 billion IPO.

The question why AA Japan JV files for bankruptcy, but Stony bailout PAA JV partner?

AirAsia Japan files for bankruptcy, leaving 23,000 flyers without refunds
KAZUHIRO NOGUCHI, Nikkei staff writer
November 18, 2020 04:27 JST

With about 21.7 billion Yen in liabilities.

i3lurker Arrest Warrant was issued for stony 🤣
21/09/2023 9:04 AM

That is why AA sold AirAsia India
Updated: 03 Nov 2022 9:28 am
Tata Group will now wholly own AirAsia India via Air India. The AirAsia Aviation Group has sold its remaining stake in AirAsia India to Air India, a company which is now owned by the Tata Group. AirAsia has also reportedly said that there will be no gain or loss on the disposal as it expects to receive Rs 1.56 billion from the sale of the stake.

geary CapitalA Latest News, September 20, '23.
KUALA LUMPUR: Capital A Bhd’s wholly owned subsidiary, Asia Digital Engineering Sdn Bhd (ADE) has entered into a shareholders agreement (SHA) with Sivilai Asia Co Ltd to establish a maintenance repair and overhaul (MRO) business in Cambodia.

In a filing with Bursa Malaysia, Capital A said under the SHA, ADE will subscribe to 60% of the issued and paid-up capital of a Cambodian joint venture company incorporated under the name ADE (Cambodia) Co Ltd (ADE Cambodia). Sivilai Asia will invest the remaining 40%.

The SHA also records the rights and obligations of each party relating to the operation and management as well as their shareholding in ADE Cambodia.

“ADE will inject up to the amount of US$1.2mil with two tranches (first tranche during pre-incorporation and the balance would be post-incorporation), and ADE will use internal funds for its share of the equity investment,” it said.

What kind of management that make promptly announcement on above kacang putih deal but fail to disclose a deal involve undisclosed sum to “increase effective stake from 40% to 100% in Philippine Air Asia” that transfers about negative equity of RM 2 billion from Non-controlling interest to Shareholders’ equity and about RM 1 billion addition accumulated losses?
How the deal can help shareholders’ equity to uplift CapitalA from PN17?

Post removed.Why?

Jaks
FY 2022: FY2021
RM'000, RM'000
Revenue 89,794 108,145
But
Trade and Other Receivables 340,873 344,366

No wonder every year come Q4 impairment of Trade and Other Receivables.

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 Wander yearly issued RI and PP to get money from shareholders to pay Other Operating, Administrative Expenses and Finance cost...


Know how much other incomes insas have?
FY 2023: FY2022
RM'000, RM'000
Other incomes 94,469 101,489

I find pleasure in rebutting fanciful financial claim from Stony Fanci.

P/E ratio for Singapore Airlines (C6L.SI)
P/E ratio as of September 2023 (TTM): 10.5
According to Singapore Airlines's latest financial reports and stock price the company's current price-to-earnings ratio (TTM) is 10.4928. At the end of 2019 the company had a P/E ratio of 21.0.

The problem how to calculate capA earning?
Based on culmulative 6 months end 30/06/23.
After charging the foreign currency translation difference the total comprehensive income is RM (467,590,000)

CapitalA forward PE multiple should be 33×, of current EPS.🤔🥴🤑🙏🚀

https://klse.i3investor.com/blogs/Sslee_blog/2020-03-23-story-h1485609583-Coronavirus_vs_the_human_immune_system_the_brutal_microscopic_war_for_s.jsp

https://klse.i3investor.com/blogs/Sslee_blog/2020-03-20-story-h1485578083-How_to_eliminate_COVID_19_Virus.jsp

Repost: Secret to happiness and success

“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 my 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/associate with and who to avoid/ignore because your future success will depend on this critical choice

Repost:Secret to happiness and success

“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 my 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/associate with and who to avoid/ignore because your future success will depend on this critical choice

"The first rule of an investment is don't lose [money]. And the second rule of an investment is don’t forget the first rule. And that's all the rules there are." - Warren Buffett

By the way 3iii, what is the EV/EBITDA ratio for capA?

It mean if you pay RM 4,293 million to take capA private you still need to settle (the total debt- cash equivalent). Your total cost will be RM 18,026 million.

3iii mind working out what is the MKT cap and ENT value of INSAS?

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > Sep 20, 2023 8:40 AM | Report Abuse
MKT Capt (RM m) : 4,293.8
ENT Value (RM m) : 18,026.5
Total Shareholders Equity: (5,725.1) Dec 2022

Downside is if come 7 Oct 2023 Bursa reject the third request for extension in submitting the PN17 regularisation plan and proceed to suspend and delist CapA then you will be trapped holding a non list company.

Upside you still can enjoy a cup of coffee with Stony during the private company AGM for free. Remember people are actually paying multimillion just to have breakfast with Warren Buffett

An allowance for impairment of RM 315.3 million was recognised in 2020 for an amount due from a related party, AirAsia X (AAX), resulting from AAX’s debt restructuring exercise. Subsequently, in 2022, after AAX concluded the debt restructuring exercise, RM313.2 million of the outstanding amount was written off.

An allowance for impairment of RM214.4 million was recognised in 2020 for an amount due from a related party, Thai AirAsia X (TAAX) due to the proposed rehabilitation plan of TAAX. This was subsequently increased to RM227.7 million in 2021.

In 2023, an amount of RM1.6 million, equivalent to 0.5% of the settlement sum was successfully recovered. As for TAAX, we are currently awaiting the outcome of the proposed rehabilitation plan.

CapA forum/AA suporters become weirder and weirder each day. It look like and sound like Serbadk forum/ karim suporters back then wonder how is pearlwhite doing now?

3iii,
My question to capitalA IR:

Question 1: Why only present the positive; Group (“EBITDA”) of RM462 million in 2Q2023 and Group operating cash flow over RM1 billion to general investing public and IBs analyst but omitting to state that 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.

2Q2023:
Depreciation of right of use assets: RM (354,185,000)
Finance costs-lease liabilities: RM (235,975,000)

Cash flows from financing activities:
Proceeds from borrowings: RM 130,989,000
Repayment of borrowing and lease liabilities: RM (1,107,380,000)
Acquisition on non-controlling interests: RM (52,061,000)
Net cash used in financing activities: RM (1,028,452,000)

With multibillion in debts and Accumulated losses of RM10,151,810,000
How soon will it start to make meaningfull profit to pare down debts and accumulated losses?2, 5, 10 or 15 years?

Meanwhile Bursa will only accept PN17 regularisation plan that comply with Bursa rule or else suspension and delist is inevitable.

For now, it is also dependent on the goodwill and mercy of its creditors, bankers and bond holders.

"When you owe a little bit of money, you have a problem. When you owe a lot of money, your lenders have a problem."

Hopefully, with ingenuity, patience, coordination and cooperation between many parties, CapitalA will turnaround, sooner than later.

Note: If you do not make lease payment, lessors have the right to pull out their planes and lease to someone else that can pay.

As at 30/6/2023: 31/12/2022
Deposits, bank and cash balances: RM 735,003,000: RM469,985,000
Sales in advance: RM 2,024,943,000: RM 1,428,011,000
Current borrowing: RM 724,973,000: RM 530,958,000
Non current borrowing: RM 2,964,246,000: RM 2,405,756,000
Short term debentures: RM 98,156,000: -
Current portion of long term debentures: RM 186,741,000: -
Non-current portion of long term debentures: RM 194,722,000: -
Current trade and other payables: RM 3,936,316,000: RM 2,878,562,000

CapA is more and more insolvent as at 30/6/2023, taking in more and more borrowing, advance sales, trade and other payables just to activate more planes/advance sales , more payables and borrow money growth aviation. It is aka to Ponzi schemes collecting more sales in advance for current working capital.

Or can you understand accounting:

2Q2023 Current liabilities RM 14,208,631,000, current assets RM 2,269,900,000 thus net current liabilities RM (11,938,731,000), CapA is an insolvent company

Can you understand plain english or you have language barrier ?

​(i) ​no longer trigger ANY of the Prescribed Criteria upon implementation of the regularisation plan

Know what the different when Stony bought AA for RM 1 in 2001 and now capitalA shareholoders' equity is RM negative 8,390,820,000 and accumulated losses RM 10,151,810,000?



As at 30/6/2023: As at 31/12/2022
RM ‘000: RM’000
Capital and reserves:
Share capital: 8,659,652: 8,654,977
Merger deficit: (5,507,594): (5,507,594)
Other reserves: 266,894: 204,020
Foreign exchange reserve: (1,657,962): (153,308)
Accumulated losses: (10,151,810): (8,923,188)
Equity:
Shareholders’ equity: (8,390,820): (5,725,093)
Non-controlling interest: (1,813,867): (3,791,865)
Total equity: (10,204,687): (9,516,958)

2Q2023 Current liabilities RM 14,208,631,000, current assets RM 2,269,900,000 thus net current liabilities RM (11,938,731,000), CapA is an insolvent company

As at 30/6/2023
Deposits, bank and cash balances: RM 735,003,000
Sales in advance: RM 2,024,943,000
Current borrowing: RM 724,973,000
Non current borrowing: RM 2,964,246,000
Short term debentures: RM 98,156,000
Current portion of long term debentures: RM 186,741,000
Non-current portion of long term debentures: RM 194,722,000
Current trade and other payables: RM 3,936,316,000

CapA is more and more insolvent as at 30/6/2023, taking in more and more borrowing, advance sales, trade and other payables just to activate more planes.

How great AA was and will be in future are irrelevant for Bursa to decide whether to accept capA PN17 regularisation plan to uplift capA from PN17 or proceed to suspend and delist capA are:

The PN17 regularisation plan must be in complying with the requirements under paragraph 5.4 above, the PN17 Issuer and its Principal Adviser must demonstrate to the satisfaction of the Exchange, the following:
​(a) ​the regularisation plan is able to strengthen the financial position of the PN17 Issuer including its securities holders’ equity, gearing, net asset position, cash flow position, and address its accumulated losses position;
​ ​(b)​ ​the steps taken or proposed to be taken are comprehensive and capable of addressing the issues that had caused the PN17 Issuer to trigger the Prescribed Criteria, such that the PN17 Issuer will –
​​ ​(i) ​no longer trigger ANY of the Prescribed Criteria upon implementation of the regularisation plan; and
​ ​​​(ii) ​not trigger ANY of the Prescribed Criteria in the near future


Posted by StartOfTheBull > Sep 19, 2023 12:48 PM | Report Abuse
About AirAsia
It started back in 2001 when Tony Fernandes and Kamarudin Meranun bought an ailing airline with two aircraft and 200 staff and turned it into the fourth largest in Asia, with more than 200 aircraft and 21,000 staff across Malaysia, Thailand, Indonesia, the Philippines and more.

From humble beginning year 2001, everybody can fly.

KUALA LUMPUR: CAPITAL A Bhd needs up to 50 new wide-body aircraft to turn AirAsia and its long-haul carrier arm AirAsia X Bhd into a low-cost version of world-renowned Qatar Airways and Emirates.

The Middle Eastern airlines have done a great job at making the world a smaller place and Malaysia has the potential to do the same, Capital A chief executive officer Tan Sri Tony Fernandes said.

Just follow below simple Bursa' rules to uplift from PN17. Is that too difficult to follow?

The PN17 regularisation plan must be in complying with the requirements under paragraph 5.4 above, the PN17 Issuer and its Principal Adviser must demonstrate to the satisfaction of the Exchange, the following:
​(a) ​the regularisation plan is able to strengthen the financial position of the PN17 Issuer including its securities holders’ equity, gearing, net asset position, cash flow position, and address its accumulated losses position;
​ ​(b)​ ​the steps taken or proposed to be taken are comprehensive and capable of addressing the issues that had caused the PN17 Issuer to trigger the Prescribed Criteria, such that the PN17 Issuer will –
​​ ​(i) ​no longer trigger ANY of the Prescribed Criteria upon implementation of the regularisation plan; and
​ ​​​(ii) ​not trigger ANY of the Prescribed Criteria in the near future;

Event that trigger PN17:
2.1​ Pursuant to paragraphs 8.04(2) of the Listing Requirements, where a listed issuer triggers any one or more of the following Prescribed Criteria it must comply with the provisions of paragraph 8.04 and this Practice Note:
​(a) ​the shareholders' equity of the listed issuer on a consolidated basis is 25% or less of the issued and paid-up capital (excluding treasury shares) of the listed issuer and such shareholders' equity is less than RM40 million;
​ (b) receivers or managers have been appointed over the asset of the listed issuer, its subsidiary or associated company which asset accounts for at least 50% of the total assets employed of the listed issuer on a consolidated basis;
​​(c) a winding up of a listed issuer's subsidiary or associated company which accounts for at least 50% of the total assets employed of the listed issuer on a consolidated basis;
​​(d)​ ​the auditors have expressed an adverse or disclaimer opinion in the listed issuer's latest audited financial statements;
​ ​​(e) ​the auditors have expressed an emphasis of matter on the listed issuer's ability to continue as a going concern in the listed issuer's latest audited financial statements and the shareholders' equity of the listed issuer on a consolidated basis is 50% or less of the issued and paid-up capital (excluding treasury shares) of the listed issuer; or
​ ​(f) a default in payment by a listed issuer, its major subsidiary or major associated company, as the case may be, as announced by a listed issuer pursuant to paragraph 9.19A of the Listing Requirements and the listed issuer is unable to provide a solvency declaration to the Exchange

Will Stony keep his words to submit its regularisation plan by Oct 7?
Or another request for third extension. Keep your fingers crossed.

On Capital A's Practice Note 17 (PN17) status in Bursa Malaysia, Fernandes said the company was on target to submit its regularisation plan by Oct 7.

He said a lot of work had been put into the regularisation plan, but ultimately, it was Bursa that would make the final decision.

"Doing a regularisation is massive and not many companies come out of PN17. I know now why… A lot of work has gone into this. Bursa Malaysia is there to help companies come out of PN17, but ultimately, it's their decision," he added.

AA Japan closed.
AA India Sold
AA China still waiting for poker man pulling connection.

AA Indonesia, AA Thai, AA Philippine facing fierce competition from local low cost airlines.

So where to employ the planes?

Figure and fact:
Aggressive Fleet Growth
● Fleet reactivation alone is not enough to sustain our growth trajectory. After reactivating our fleet, we need to grow the fleet further.
● Orderbook of 362 aircraft to be delivered over the next 12 years, beginning 2024. Of the 362, financing is secured for 73 aircraft through Sales and Leaseback (SLB) arrangement with several lessors.
● We are also leasing 15 additional aircraft - 9 to be delivered in 2024, 6 in 2025.


Delusionary
https://www.channelnewsasia.com/business/airasia-capital-ceo-tony-fernandes-expand-airbus-order-asean-multi-hub-strategy-3773186

Right now, we're looking at more capacity. I can announce for the first time on CNA that we're looking at an aircraft order,” he told the national broadcaster on Thursday (Sep 14), during an interview with presenter Roland Lim on the sidelines of the annual Milken Institute Asia Summit in Singapore.

“I never believed that we would be looking at a new aircraft order, so it is an exciting moment that we're in discussion with manufacturers for a wide body order.”

The last time Karim also want to take serbadk to space:
Serba Dinamik Group Bhd is collaborating with seven institutions of higher learning as its strategic partners in Malaysia to establish a New Space Economy Nexus (NSEN) to explore the areas in space technology.

From visionary to delusionary

EatCoconutCanWin AirAsia plan to join national rocket launcher in 2025. What a great move
19/09/2023 8:48 AM

Know why I like choivo capital blog?
He done his indept analysis and presented the figure in a stroy like the truth and the whole truth.

He is right about Serbadk and also about AA. He no more sharing his analysis because those with vested interest or fanatic fans of Karim and now Stony can't tell the different between fact and delusion and start to behave very weird. The rest is history.

Come 7 Oct 2023, if Bursa reject the request for third extension and proceed to suspend and delist capitalA then Stony/capA will drop/fall/sink like a stone.

Posted by i3lurker > Sep 18, 2023 10:39 PM | Report Abuse
its so weird !!
the behavior and posts here is exactly the same as in bankrupt Serba forum previously.
even weirder is that the weird characters are also exactly the same !

Repost:
Is that sooooooo stupiiiiiiid someone 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?

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

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.

Someone is very jeleous I make 6 digit gain from the WC.
Recently bought back some WC because history will repeat again. In the past someone promote PA, and WC rocket pass PA. Now that someone day and night promote Jaks hence WC will/shall rocket pass Jaks soon.

去年同期脱售联号公司所有股权录得1亿3130万令吉一次性收益，托高了对比基数
One-off exceptional gain on deemed disposal of equity interest in associate companies of RM 131.3 million.
Do anyone know what is deemed disposal?

Associated co - Inari completed private placement of 10% share at RM 3.10, way above its NTA per share, & insas needs to account for its equity accounting (Inari) share of share capital/reserve increase of RM 131.3 million, purely accounting treatment in compliance with FRS. Non cash flow but increase in assets.
Balance sheet the non current asset associate companies value increase by RM 131.3 million.

Did someone know Jaks every year PP way below NTA?

Insas still hold 537,008,575 inari share (associate company) and
1,215,718,665 M&A an effective holding of 60.83% subsidiary company of Insas.
Know what is the market value of 537,008,575 inari share and 1,215,718,665 M&A share?
Know insas yearly dividend income from Inari alone?

Since when a car rental business in Singapore is profitable?
Someone must be smart to dispose capitalA for disposal gain before Covid-19 strike. Only dumb dumb hold Icapital TTB still holding capitalA before covid-19 untill now. Most likely TTB will still dumb dumb hold capitalA till suspension and delist

By the way Omesti is not an Associate company of insas: In balance sheet it is one of many equity investment held in current assets: Financial assets at fair value through profit or loss, as at 30/6/2023 that assets at mark to market value: RM 222,832,000

As at 30/06/2023
NAPS: RM 3.53
Deposits with licensed banks and financial institutions: RM 943,505,000
Cash and bank balances: RM 104,747,000
Total: RM 1,048,252,000
Less:
Cash and bank balance pledged: RM (2,376,000)
Fixed deposits pledged: RM (233,801,000)
Free Fixed deposits and cash and bank balance: RM 812,075,000

Repost:
You need CAPEX to modernise/automatic your plants/equipments to increase production capacity, only so stupiiiid is still so primative solely using increase labour to increase production capacity.

So now what happen to PA? Run out of labour to increse production capacity and become more profitable?

The super promoter of PA is now day and night promoting Jaks and refuse to answer question on Jaks yearly impairment of receivables and impairment loss in goodwill and yearly PP and RI

PA
Quarter
Revenue
PBT
NP
NP to SH
EPS
NAPS
Financial Year: 30-Jun-2023
30-Jun-2023 104,755 13,585 3,322 3,322 0.23 0.1876
31-Mar-2023 84,810 299 239 239 0.02 0.1849
31-Dec-2022 133,848 15,300 12,636 12,636 0.95 0.1843
30-Sep-2022 138,331 15,150 15,150 15,150 1.22 0.1797

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 and Y to Y drop

Based on past 4 years norm jaks Q4 2023 another Q to Q and Y to Y 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

No bank wants to lend anymore money to Jaks so Jaks every year either PP or RI

Question when will be the next PP or RI and at what price?
Ann. Date
Date
Type
Units
Price
View
07-Sep-2023 08-Sep-2023 Private Placement 80,014,700 0.180 Additional Listing Detail
26-May-2023 29-May-2023 Private Placement 129,017,000 0.185 Additional Listing Detail
30-Jun-2021 01-Jul-2021 Private Placement 272,667,000 0.475 Additional Listing Detail
27-May-2019 28-May-2019 Private Placement 58,465,313 0.700 Additional Listing Detail
29-Mar-2018 30-Mar-2018 Private Placement 49,631,200 1.380 Additional Listing Detail
23-Mar-2017 24-Mar-2017 Private Placement 43,836,100 1.360

13-Oct-2020 26-Oct-2020 RIGHTS_ISSUE Rights Issue 8.0000 : 5.0000
05-Nov-2018 16-Nov-2018 RIGHTS_ISSUE Rights Issue 1 : 2

So are EBITDA great? Know what is the interest charged on loan taken by these Subsidiaries?

Teleport segmental revenue of RM167 mil, up 69% YoY (1H23 already achieved 68% of FY22 revenue).
● Driven by growth from existing and onboarding of new customers, reactivation of AirAsia fleet, and additional capacity from third party airlines allowing expansion into new lanes beyond AirAsia’s
network.
● Significant leap for EBITDA to RM9.2 mil, from a loss of RM25 mil in prior year.

Superapp segmental revenue of RM170 mil (1H23 already achieved 82% of FY22 revenue).
● Highest quarterly EBITDA of RM40 mil, tremendous improvement from RM0.9 million in 2Q22 -
improved revenue and lean cost structure.

BigPay segmental revenue of RM11 mil, up 53% YoY - due to healthy take-up rate across all products group.
● EBITDA loss narrowed by 65% YoY - due to 16% staff cost savings through reallocation of manpower to more cost effective regions (MY, TH) and one-off RM13mil - prior year audit adjustment from reversal of bonus accruals.

ADE segmental revenue of RM138 mil, up 83% YoY (1H23 already achieved 84% of FY22 revenue)
● Thriving aviation industry and complemented by the increased hangar capacity resulting from the
additional two lines in Senai.
● EBITDA of RM36.8 mil or 27% margin.

Santan segmental revenue of RM26 mil, with an EBITDA of RM2mil.
● Driven by improved inflight products demand in tandem with increase of flight frequencies and
passenger traffic

You need CAPEX to modernise/automatic your plants/equipments to increase production capacity, only so stupiiiid is still so primative solely using increase labour to increase production capacity.

So now what happen to PA? Run out of labour to increse production capacity and become more profitable?

The super promoter of PA is now day and night promoting Jaks and refuse to answer question on Jaks yearly impairment of receivables and impairment loss in goodwill.

PA
Quarter
Revenue
PBT
NP
NP to SH
EPS
NAPS
Financial Year: 30-Jun-2023
30-Jun-2023 104,755 13,585 3,322 3,322 0.23 0.1876
31-Mar-2023 84,810 299 239 239 0.02 0.1849
31-Dec-2022 133,848 15,300 12,636 12,636 0.95 0.1843
30-Sep-2022 138,331 15,150 15,150 15,150 1.22 0.1797

Someone is watching F1 or i3?
Somone must be very desperate untill he do not know what he wrote?

The_JQuestion Everyone will have to return their report cards ... and go back to school and take a lesson from the very best , TAN SRI !!! if u think ppl are asleep of it, u are wrong. MANY are fully aware already, REMARKABLE ! IMPOSSIBLE? adidas also shake shake say tony is possible !!
17/09/2023 11:07 PM

https://choivocapital.com/2020/08/30/airasia-group-berhad-5099-the-rm6-billion-baggage-fee/

Given their early success, and seeing the huge vacuum in the market, Airasia then decided that the right step was make their company the LCC leader in ASEAN in order to have economy of scale and enable them to drive costs even lower, and the solution was to go all in at creating associates and joint ventures in South East Asia.

Airasia was one of the first (and to do it to such extremes) to make gigantic plane orders that stretched more than 10 years in advance.

In 2007, they secured an order of 130 Airbus A320’s for delivery up to 2012, planes worth easily 10-20 times the value of the company then.

They then increased this amount to 200 Airbus A320’s by 2008.

In 2011, they ordered another 200 of them, and from this order, becomes Airbus’s single largest customer.

In 2012, they placed orders for another 100 of them, and in 2016, they did it again by ordering another 100.

By placing such huge orders, they were also able to obtain discounts of 30% or more off the list price, and get the planes customized to suit their needs exactly.

In addition, as their initial orders were made just after the financial crisis, and before the boom in low cost airlines (A trend that was sparked by Airasia) in Asia, they were able to buy large amount of planes at a discount from the already low prices that were at the low end of the cycle.

This allowed Airasia Group to charge its Joint Ventures and Associates leasing fees for using their planes (The company AAC was created in 2013 to manage this) and it also enabled them to be in a business to of selling planes and slots to airplane leasing companies when the airline boom started.

In just a few years, this would go from a cost cutting measure, to a highly profitable venture and one of the key reason for Airasia’s profitability.

Aircraft Operating Lease Income
With the purchase of these huge purchase planes to fund their regional ambitions, as stated previously, Airasia, the Group Company now had a new income stream that would grow far more profitable than expected.

It would not be unreasonable to say that by 2016, this has grown to be their second largest revenue and largest profit contributor.

Without it, the Airasia Group would be lossmaking.

Externally, this also caused huge headaches with accusations by GMT Research that Airasia was only profitable due to the leasing of these planes resulting in profit transfers from unprofitable regional Joint Ventures, to the group holding.

Internally, i’m sure the other joint venture or associate partners did not feel comfortable about this as well, as it could be seen as Airasia Berhad milking the associates for all its worth.

This culminated in the sale of the planes and the leasing business

28 Feb 2018 (Completed 31 Dec 2018) – BBAM Limited Partnership / FLY RM 9,775.6 million and RM 262.3 million (82 Aircraft and 14 Engines)

24 Aug 2018 (Completed 8 August 2019) – Castlelake L.P. USD 739.5 million (RM 3,559.5 million) (25 Aircraft)

25 July 2019 (Completed 31 December 2019) – Castlelake L.P. (RM 1,240 million) (14 Airbus A320-200)

So the questions.
Is year 2015, 2016, 2017 and 2018 good profits are from flying people or leasing companies under AA charging high leasing fees to JV , associate/subsidiary of AA or one off gain from disposal of AA leasing companies?

What happen in 2019 pre covid when no more planes/leasing companies under AA to sell?

So moving foreward 2023 and beyond with planes lease payment of RM 2 billion per year and loan principal and interest payment can capA make meaningfull profit?


Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ Capital A
YEAR .. DPS(SEN) .. EPS(SEN) .. YEPX ..
2009 .. 0 .. 14.57 .. 1.34 ..
2010 .. 0 .. 15.33 .. 2.45 ..
2011 .. 2.68 .. 25.96 .. 3.65 ..
2012 .. 4.84 .. 14.47 .. 2.65 ..
2013 .. 23.23 .. 30.3 .. 2.13 ..
2014 .. 3.87 .. 2.88 .. 2.63 ..
2015 .. 2.9 .. 18.82 .. 1.25 ..
2016 .. 3.87 .. 56.39 .. 2.22 ..
2017 .. 11.61 .. 28.78 .. 3.24 ..
2018 .. 50.32 .. 28.23 .. 2.87 ..
2019 .. 98.71 .. -5.04 .. 1.65 ..
2020 .. 0 .. -157.43 .. 0.86 ..
2021 .. 0 .. -73.31 .. 0.79 ..
2022 .. 0 .. -59.59 .. 0.63 ..


*Cumulative 14 years 2009 to 2022
*Total cum. EPS -59.64
*Total cum. DPS 202.03
Tot Retain Earns -261.67
DPO Ratio -338.7%


From 2009 to 2019:
Its accumulated total EPS = 230.69 sen
It paid a total accumulated DPS = 202.03 sen.

From 2020 to 2022, airline sector was badly hit by the Covid pandemic.
17/09/2023 4:41 PM

Repost:
Japanese is such a nice people, no refund and they still bow down to you and say thank you.
AirAsia Japan was shut down in 2020.

Indians are so sneaky and love their bollywood dance so much till you either go to jail or company’s stake in AirAsia India was recently sold

Thai love their stock market: A gain of RM1.37 billion from the remeasurement of an associate to subsidiary, Asia Aviation Public Company Ltd Group (AAV) holder of Thai air asia.

Philippines advance sales a problem, many people there own AK47 guns and mafia boss macai can just make you disappear overnight so no choice company paid undisclose sum to buy back the 60% PAA non-controlling interest.

2022
IAA: PAA
RM’000 : RM’000
Non-current assets 1,409,615 : 709,801
Current assets 116,294 : 357,236
Non-current liabilities (1,992,676) : (1,021,560)
Current liabilities (1,458,377): (3,100,251)
Net liabilities (1,925,144): (3,054,775)

Name of entity Country of incorporation
Group’s effective equity interest
2022 %
PT Indonesia AirAsia (“IAA”) Indonesia 47.43
Philippines Airasia Inc. (“PAA”) Philippines 40.00

Indonesians and Malaysians abang-adik like sslee very easy to bully one 🤣

Stony can keep talking but the Boeing and Airbus will ask show me the money first or is he up to his AAX old trick loaded class C creditor Airbus with RM 17 billion+ termination claims and force the rest of creditors to accept 0.5% on what is owed (included passagers advance sales).

https://klse.i3investor.com/blogs/Sslee_blog/2021-11-12-story-h1593811488-AAX_Creditors_Can_AAX_treating_its_customers_as_creditors_and_repay_the.jsp



The deal will primarily be with Airbus, although Boeing has also made offers, said Mr Tony Fernandes, chief executive officer of Capital A, the parent company of the budget carrier.

“Right now, we're looking at more capacity. I can announce for the first time on CNA that we're looking at an aircraft order,” he told the national broadcaster on Thursday (Sep 14), during an interview with presenter Roland Lim on the sidelines of the annual Milken Institute Asia Summit in Singapore.

“I never believed that we would be looking at a new aircraft order, so it is an exciting moment that we're in discussion with manufacturers for a wide body order.”

So will this time Stony keep to his words or another request for extension on submitting PN17 regularisation plan?

In 2Q23, operating 146 aircraft with remaining 54 aircraft aim to reactivate by end of 2023. Slower than expected reactivation progress was due to:
- Shortage of aircraft components and cabin furnishings in the market
- Aging aircraft require extensive maintenance services such as seat removal and comprehensive cabin interior overhauls

Conclusion: More Aircraft for growth
Aggressive Fleet Growth
● Fleet reactivation alone is not enough to sustain our growth trajectory. After reactivating our fleet, we need to grow the fleet further.
● Orderbook of 362 aircraft to be delivered over the next 12 years, beginning 2024. Of the 362, financing is secured for 73 aircraft through Sales and Leaseback (SLB) arrangement with several lessors.
● We are also leasing 15 additional aircraft - 9 to be delivered in 2024, 6 in 2025.

Fundraising Outlook
● Expecting to fundraise approximately USD800 million for aviation business growth through a combination of syndicated local club loan in Malaysia, revenue bond issuance and equity fundraise.
● Also expecting to close USD40 million for Superapp and potentially raise additional USD40 million for Teleport.

Ancillary Income Drivers
● Successful experimentation with ancillaries flow and bundling expected to deliver accretive impact upon rollout beginning 4Q23.
● New ancillary products in the pipeline to deliver additional revenue opportunities.

Growth Catalysts
● There is no bottleneck in terms of manpower resources for future fleet growth.
● In August Thailand has relaxed visa requirements for Chinese travellers, setting the stage for increased travel demand from China.

PN17
● Revised official submission deadline to October 2023, aim to execute the plan in 4Q23/1Q24

What the different RM 1 capital to shareholoders' equity of RM negative 8,390,820,000?