Question when will be the next PP 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

Just look at 31 Dec 2019 NTA of RM 1.33 to 30/6/2023 NTA of RM -2.01.
Will Bursa allow shareholoders' equity of RM negative 8,390,820,000 to continues listing status?

Or do you believe Stony can come out with PN17 regularisation plan to turn capitalA shareholoders' equity of RM negative 8,390,820,000 to positive RM 40 million+ to uplift CapitalA from PN17 status on or before Bursa deadline of 7 Oct 2023?

Quarter
Revenue
PBT
NP
NP to SH
NP Margin
ROE
EPS
DPS
NAPS

Financial Year: 31-Dec-2023
31-Mar-2023 2,529,713 29,890 26,014 57,095 1.03% 0.00% 1.40 0.00 -1.3300
30-Jun-2023 3,151,131 937,105 929,362 1,118,281 29.49% 0.00% 27.50 0.00 -2.0100

Pre covid -19

Financial Year: 31-Dec-2019
31-Dec-2019 3,359,229 -232,468 -385,430 -384,483 -11.47% -8.65% -11.50 0.00 1.3300
30-Sep-2019 3,066,262 -347,601 -67,640 -51,443 -2.21% -1.12% -1.50 0.00 1.3800
30-Jun-2019 3,140,345 -202,469 46,813 17,940 1.49% 0.24% 0.50 0.00 2.2700
31-Mar-2019 2,881,027 214,306 101,609 96,089 3.53% 1.16% 2.90 90.00 2.4700

Good morning i3lurker,
What ever inside Insas is shareholders' money.
In theory you can spent 800 million to take over Insas and then use Insas cash to pay off your borrowing and all the rest of insas is yours for free.

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?

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

Previously the reason given by the Board is Insas need a lot of cash to support M&A securities broking, adviser, placement agent and sponser for IPO, PP and Merge and Acquisition.

Now M&A securities already RTO SYF hence is now independent from Insas. Insas should be able to give better/fairer dividend.

Analysis of Shareholdings
as at 31 March 2022
DISTRIBUTION OF SHAREHOLDINGS (BASED ON THE RECORD OF DEPOSITORS)
Issued and fully paid-up capital : 4,166,393,219 ordinary shares
Class of shares : Ordinary shares
Voting rights : One vote per ordinary share
Size of Shareholdings
No. of
Shareholders
% of
Shareholders
No. of
Shares
% of Issued
Share Capital
Less than 100 : 445: 0.471: 9,301: 0.000
100 – 1,000: 22,560 : 23.897: 14,918,975: 0.358
1,001 – 10,000: 48,459 : 51.331 : 229,386,649: 5.505
10,001 – 100,000 : 20,524 : 21.740: 632,645,886 :15.184
100,001 to less than 5% of issued shares: 2,413 : 2.556 : 2,263,947,326 : 54.338
5% and above of issued shares: 3 0.003 : 1,025,485,082 : 24.613

Potential disgruntled capitalA retail investors = 445 + 22,560 + 48,456 + 20,524

https://klse.i3investor.com/mqtrader/app/fa/stkfa/5099

MQ Fundamental Rating
2.2 / 5

Rating Breakdown
Pass:3
Fail:5
Neutral:

Increased earnings over time?
FAIL
View Financials

Converting sales to profits?
FAIL
View Financials

Increased shareholder value?
FAIL
View Financials

Pays a cash dividend?
FAIL
View Financials

Stock currently undervalued?
PASS
View Financials

Potential higher earnings this year compare to last year?
PASS
View Financials

Actively covered by analysts?
PASS
View Price Target

Potential 20% upside in consensus Price Target?
FAIL

I have a bad feeling that if Bursa proceed to suspend the trading of the listed securities of the CapitalA and to de-list the CapitalA in the event CapitalA fails to submit its regularisation plan to the regulatory authorities on or before 7 October 2023, many retail investors will loss their hard earned money, no thank to the IBs analyst and CapitalA IR/Management giving them false hope that very soon CapitalA will be uplifted from PN17.

Will there be many disgruntled capitalA investors too?

paulthesotong Must be a disgruntled airline customer.
What a surprise!
12/09/2023 9:46 AM

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

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?

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.

Someone should take the offer on the table fast fast.

Posted by Bruce_Wayne > 1 day ago | Report Abuse
Who wants to make RM1,835,548.59 to RM5,506,645.77 risk-free without up front capital?

Here's how, just report tax evaders
Between 2019 and July 2023, Jaks has issued the following amount and value of shares under the share grant plans:
____________________ Units ___________ Value (RM)
July 2023 ________ 70,500,000 ________ 12,690,000
2022 _____________ 45,000,000 ________ 11,700,000
2020 _____________ 19,945,000 ________ 17,052,975
2019 _____________ 38,709,760 ________ 19,741,978
Total ____________ 174,154,760 ________ 61,184,953

The number and value of free shares issued were 174,154,760 and RM61,184,952!!!

The shares were issued for FREE and the expenses were charged to the company under administrative expenses

Since Ang Lam Pah & Co did not pay for the shares, the entire value of RM61,184,953M is considered as ‘perquisites’ under Section 13(1)(a) of the income tax. Act (ITA) in 1967.

At the income tax rate of 30%, Ang Lam Pah & Co will need to pay at least RM18,355,485.9 in back taxes

That's before penalties and compounds
Penalties and compounds may triple the amount to RM55,066,457.7
Any whistle blower to LHDN will get 10% reward

The reward will range from RM1,835,548.59 to RM5,506,645.77
That's seven figures easy money

Ang Lam Poah IC registered with LHDN: *70623-10-53+^
https://incometax.my/company/report_tax_evasion.htm

Happy reporting

Repost:
Good morning i3lurker,
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 like 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 🤣

When some monkey come to promote jaks you better sold all fast fast.

Repost for Johny fact check:
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

Insas share price already overtake CapitalA. Very soon Insas-CW will rocket pass jaks

Insas share price already overtake CapitalA. Very soon Insas-CW will rocket pass jaks

Insas share price already overtake CapitalA. Very soon Insas-CW will rocket pass jaks.

Posted by EatCoconutCanWin > Sep 11, 2023 7:31 PM | Report Abuse
Heard got special dividend soon

Dividend
In the CA 2016, the dividend rule is found in s131. It has two principles – ie (1) the dividend is to be paid out of the company’s profits; and (2) the dividend should not be paid if the payment will cause the company to be insolvent. As the directors are the ones who authorise the payment of dividends, they must be satisfied that the company will be solvent after the distribution is made.

Section 133(2) provides for the liability of the director and manager who wilfully paid or permitted to be paid dividends out of what they knew to be not profit. They are liable to the company to the extent of the amount exceeding the value of any distribution of dividends that could properly have been made.

The CA 2016 also prescribes the new liability imposed on the member. Section 133(1) states that the company may recover the amount of distribution received by a shareholder which exceeds the amount which could properly have been made unless the shareholder (1) has received the distribution in good faith; and (2) has no knowledge that the company did not satisfy the solvency test.

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

SINGAPORE (Sept 11): Capital A Bhd, parent of Malaysian budget airline AirAsia, expects to see the carrier's operations returning to pre-pandemic levels by December, Capital A CEO Tony Fernandes told Reuters on Monday.

The target indicates a slight delay from his earlier forecast of putting all 204 of its fleet back in service by August.

"We'll never have 204 (planes fully operating) because we always have some planes (in) maintenance...For me, to get back to 190 planes operational is pre-Covid," Fernandes told Reuters on the sidelines of the Forbes Global CEO conference in Singapore.

He said AirAsia's operating level stood at between 50% and 60% in the first half of the year, and it is expected to have about 190 planes back in service by the final quarter of this year.

Fernandes did not elaborate on the delay, but said drivers for capacity growth included improving demand from migrating workforce, tourism, students and connecting travellers.

Below Bursa reply to my follow up email
CapitalA: Follow up email on “increase effective stake from 40% to 100% in Philippine Air Asia”

Dear Sir,

Reference is made to your e-mail on the above matter.

We have escalated the complaint to our line department concerned for their further action. The assessment into the matter you highlighted may take time, depending on the complexity of the issues raised. However, we will undertake the necessary actions to ensure that your complaint is looked into accordingly and will take the necessary enforcement actions if there is any breach of Listing Requirements.

As we do not play the role of ombudsman nor do we conduct arbitration, in the event of conflicts or financial losses, the aggrieved parties need to file the claims through the appropriate legal process in court.

We will also make the necessary referral to other relevant authorities should we come across any potential breaches of other regulations / Acts (other than the Listing Requirements).

Thank you.

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?

Below message I Whatsapp to Insas CEO:
Good morning Dato' Wong,
Thank you for another good quarter for Insas.

Q4 EPS: 5.02 cents. Cumulative 12 months: 18.51 cents

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

With NAPS of RM 3.53 but share price only at 87 cents highly unreasonable undervalued.

Dato' Wong need to do something to unlock the fair value of Insas and one way to do so is by giving better/fairer dividend.

Looking forward to a better/fairer dividend and better share price to it NAPS of RM 3.53 and cash rich.

Once again thank you very much

From CapitalA: Second quarter report ended 30 June 2023:
Page 4:
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)

CapitalA accumilated losses of RM 10,151,810,000 is too bad to be true plus some too bad to be true NTA of negative RM (2.01)/Shareholders’ equity:RM (8,390,820,000)

Hence it is just an accounting issue as shareholders' equity can be easily adjusted from negative RM 8,390.82 million to positive RM 40 million+ thus CapitalA can easily submit the PN17 regularisation plan on or before Bursa deadline 7 Oct 2023 and uplift from PN17 before year end.

Criteria that trigger Practice Note 17:
​(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;

Trade at your own Risk!?

https://klse.i3investor.com/servlets/forum/608683103.jsp

Just a word of caution

Dear Sir,

Reference is made to your e-mail on the above matter.

We have escalated the complaint to our line department concerned for their further action. The assessment into the matter you highlighted may take time, depending on the complexity of the issues raised. However, we will undertake the necessary actions to ensure that your complaint is looked into accordingly and will take the necessary enforcement actions if there is any breach of Listing Requirements.

As we do not play the role of ombudsman nor do we conduct arbitration, in the event of conflicts or financial losses, the aggrieved parties need to file the claims through the appropriate legal process in court.

We will also make the necessary referral to other relevant authorities should we come across any potential breaches of other regulations / Acts (other than the Listing Requirements).

Thank you.

Good morning i3lurker,
I will rather spend RM 500,000.00 to sue Xingquan External Auditor: SJ Grant Thornton, IPO: CIMB Investment Bank Berhad and RI: RHB Investment Bank Berhad principal advisor, underwriter and placement agent for:
1. Gross negligence and failure to perform their fiduciary duty; and
2. Complicite in above fraud/crime in auditing, preparing and approving Xingquan Financial Account, IPO Prospectus and RI Prospectus

Can you recommend a good law firm?

Question 3: Is SC investigating Xingquan External Auditor: SJ Grant Thornton, IPO: CIMB Investment Bank Berhad and PP & RI: RHB Investment Bank Berhad principal advisor, underwriter and placement agent for gross negligence and failure to perform their fiduciary duty?

Note: Referring below SC announcement
https://www.sc.com.my/resources/media/media-release/sc-reprimands-three-china-based-companies-and-says-retention-of-four-directors-prejudicial-to-public-interest
The SC reprimanded Xingquan, its Executive Chairman and CEO Dato’ Wu Qingquan, Executive Director Wu Lianfa, former Non-Independent Non-Executive Director Ng Sio Peng and former Senior Independent Non-Executive Director Zhou Liyi for:
-falsely recording a loss of RMB415.7 million from the sale of inventory by Xingquan’s wholly-owned subsidiary;
-furnishing to Bursa Malaysia a false agreement between the said subsidiary and a third party;
-furnishing false or misleading financial statements to Bursa Malaysia; and
recording cash and bank balances in eight bank accounts collectively belonging to Xingquan that were false or misleading.

Why no actions were taken against Xingquan External Auditor: SJ Grant Thornton, IPO: CIMB Investment Bank Berhad and RI: RHB Investment Bank Berhad principal advisor, underwriter and placement agent for:
1. Gross negligence and failure to perform their fiduciary duty; and
2. Complicite in above fraud/crime in auditing, preparing and approving Xingquan Financial Account, IPO Prospectus and RI Prospectus.

From The late Karpal Singh himself:
You see that’s why they say he may be a good lawyer but he’s a lousy politician. That has been a charge against me. But I think one should know that you can’t sacrifice principles for political expediency. That’s the stand I have taken and I won’t shift from that. They say in politics there are no permanent enemies or permanent friends, but I say there must be permanent principles. I must be able to look at myself in the mirror when I get up in the morning. You can’t twist and turn. That’s something that I have not been able to do and I have been criticised for it.

That pretty well sum up who The late Karpal Singh is. I never met or known Karpal Singh personally, the most I can recalled was seeing a Singh paste a Rocket DAP party symbol in the lamp post in front of our Alor Setar house during the 1974 general election when I was still a thirteen year old boy. Again all odd Karpal was elected to Alor Setar state assembly and what follow is a legend is born

Any comment before I send out the email?

https://klse1.i3investor.com/blogs/Sslee_blog/2023-09-09-story-h-240142117-CapitalA_Follow_up_email_on_increase_effective_stake_from_40_to_100_in_.jsp
For your weekend reading and thinking

AAX pre debts restructure, AAX owed capitalA how much?

Impairment losses from AirAsia X and Thai AirAsia X (both are related parties) totalling RM313.2 million and RM227.7 million respectively were recognised in 2020 and 2021. The amounts were pertaining to the former’s debt restructuring exercise and the latter’s proposed rehabilitation plan.

CapitalA as at 30/6/2023
Lease liabilities
The lease liabilities amounting to RM19.7 billion includes deferred aircraft leases of approximately RM2.7 billion. The lease liabilities are supported by ROU assets of RM12.4billion.
The Group had completed the restructuring of a total of 157 aircraft leases up to the date of this report including the waiver of lease rentals in arrears, as well as reducing future lease rates with a corresponding longer lease term, where necessary, and return of aircraft.

Malaysia has ratified the Capetown Convention and has incorporated it into domestic law via the International Interests in Mobile Equipment (Aircraft) Act 2006. This gives some comfort to lessors, particularly those who are entering the Malaysian market for the first time.

The Impact of Recent Court Decisions

The Cape Town Convention, previously untested in Malaysian courts, was recently invoked during the proceedings related to AirAsia X’s Scheme of Arrangement. The court established that this scheme constitutes an “insolvency-related event” under Article XI of the Protocol of the Cape Town Convention. This conclusion was based on the following factors: (i) the scheme was formulated in the context of an insolvency procedure; (ii) the scheme was also a collective arrangement in that it was “concluded on behalf of creditors generally or such classes of creditors as collectively represent a substantial part of the indebtedness”; and (iii) the court’s approval was required for its implementation.

The court concluded that in the event the debtor chooses not to terminate the agreement when an insolvency-related event has occurred or the creditor does not exercise its right to repossess the aircraft, the obligations under the agreement, including the obligations to pay the rentals, can only be modified by the debtor with the creditor’s consent. However, the court then went on to state that the proposed scheme, or rather the AirAsia X proposed haircut, was merely seeking to compromise the lessors’ claims for damages (and not attempting to modify the terms of the lease) and in this instance, AirAsia X did not therefore require the consent of the lessors in respect of the proposed haircut on the lessors’ claims.

The court’s decision, namely that the scheme was an insolvency-related event under the Cape Town Convention, is the key point for lessors moving forward. This presumably provides a more definitive trigger for Events of Default, offering greater certainty for lessors concerned about a potentially troubled airline. It is also noteworthy that AirAsia X voluntarily offered to return any aircraft that lessors wished to repossess, guaranteeing that it would not resist terminating those leases. Ultimately, there were no forcible repossessions in relation to any of the AirAsia X aircraft, nor have there been any forcible repossessions of aircraft in Malaysia in recent history. It appears that both lessees and lessors prefer to come to an amicable solution, even when a lessor may already have secured the necessary court orders.

However, on 6 December, Capital A announced and clarified that “the proposed plan is not a merger of AirAsia Berhad and AirAsia X, but a potential disposal of Capital A’s aviation assets to AirAsia X, in order to form a separate publicly-quoted aviation group comprising six airlines – four short-haul Asean airlines and two medium-haul airlines, namely AirAsia Berhad, Thai AirAsia, AirAsia Indonesia, AirAsia Philippines, AirAsia X and Thai AirAsia X. However, the Company also wishes to clarify that the plan remains a work in progress, and will be subject to multiple approvals including by the Company’s Board of Directors, shareholders, and Bursa Malaysia Securities Berhad.”

Lessors and financiers will also have to consider what happens to the guarantees that Capital A has issued to guarantee the various obligations of AirAsia as well as of the other airlines in the AirAsia group. Leases and facility agreements that typically contain covenants in relation to changes of shareholding may mean that such a restructuring will be subject to the consent of lessors and financiers too.

As of now, the Malaysian aviation market and the industry await to see if the acquisition and/or merger between AirAsia X and the aviation business of Capital A, will indeed materialise.

Good morning i3lurker,
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 like 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 🤣

Posted by i3lurker > Sep 8, 2023 9:15 PM | Report Abuse
advance sales in Malaysia no problem
only Philippines advance sales a problem, many people there own AK47 guns
only Thailand advance sales a problem, many people there own AK47 guns
just use Bolehland money to refund Thais and Pinoys
Bolehland people like sslee very easy to bully one 🤣

Question 2: 2Q2023 Current liabilities RM 14,208,631,000, current assets RM 2,269,900,000, net current liabilities RM (11,938,731,000), what is CapitalA plan funding in the next 12 months to meet the obligation of net current liabilities of RM (11,938,731,000)?

Mabel,
Fortunately, AA after all the cash payments to repair cost, interest expenses, and overhead, the cash flow from business operation is sufficient for LEASE payment of 1b and not to forget RM 2 billion advance sales ticket (which will turn into revenue within 12 months).

Did Mabel understand that CapitalA already pocket in RM 2.024 billion advance sales and CapitalA Deposits, bank and cash balances only leave with : RM 735,003,000, so where did the RM 1.289 billion gone to?

These are questions I put forward to TA analyst.

Question 5: What do you mean/where do you get the information operating cash flow inflow was stable at RM484.9mn, boosting the group’s total cash to RM735mn as at June-23?
As at 31/12/2022
Deposits, bank and cash balances: RM 469,985,000
Sales in advance: RM 1,428,011,000
As at 31/3/2023
Deposits, bank and cash balances: RM 589,594,000
Sales in advance: RM 1,546,450,000
As at 30/6/2023
Deposits, bank and cash balances: RM 735,003,000
Sales in advance: RM 2,024,943,000

Question 6: As at 30/6/2023: Deposits, bank and cash balances: RM 735,003,000. Sales in advance: RM 2,024,943,000. May I ask, using the advance sales/future revenue for current working capital how will that affect the future cash flow?

Any sane man reading Johny half past six lapsat TA and FA comments will soon go unsane.
I wonder is Johny promoting or demoting Jaks? Is he a friend or an enemy of Jaks?

Jaks holders must be cursing their luck, if you have friend like Johny who needs enemies.

geary CAPITALA/AirAsia X
have reported a surge in net profit, driven by an increase in seat capacity and the return of more widebody Airbus A330s to service. The airline's seat capacity has increased by 19 n 25 times year-on-year, in the second quarter of 2023.
Sales probably will increase, by 20% in sync with more seats capacities.
From now to 2024, March, a discounted 20% on all flights in Capitala.
The past few months of increased demand lead to surge in net margin above #35%.
Roughly the next two quarters of 20% increase in Sales n lower net margin of 15%.
As net estimated earnings will be around 2.2B/2.4B, FY2023.
Trade at your own risk 👍
07/09/2023 6:33 PM

@geary,
Mind telling from where or from which IBs analyst you get the information "As net estimated earnings will be around 2.2B/2.4B, FY2023." Or is this another pluck a figure out of the air?

TA analyst:
Stripping off a remeasurement gain of RM1.4bn and other exceptional items, Capital A’s 1H23 results returned to losses of RM82.8mn.

KENANGA analyst
It reported a core net loss of RM112m in 1HFY23, against our full-year net profit forecast of RM201m and the full-year consensus net profit estimate of RM242m. However, we consider the results within expectations as we expect earnings momentum to escalate in 2H as air travel continues to normalise.

Posted by hakimrich94 > Sep 7, 2023 6:27 PM | Report Abuse
SSLEE, where you get the info bursa requirement to uplifted Aax but with condition no aviation injection from capital a ?

If AAX take over CapitalA aviation with billion in liabilities and accumulated loss then AAX shareholders' equity should or will trigger
PN17 Prescribed Criteria

Practice Note 17:
​(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;

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;

The most Bursa can help CapitalA is suspension but remain listing status untill CapitalA balance sheet fulfill the lifting of PN17 to uplift the PN17 and suspension.

Time is not in CapitalA side.
If MAS can prosper as unlist company perhaps CapitalA can also do so as an unlist company.

(a) ​All agreements to be entered into with third parties as part of the regularization plan have been duly executed by all parties to such agreements; and
​(b) where the regularization plan involves a compromise or arrangement with the PN17 Issuer's creditors, the PN17 Issuer has taken reasonable steps to procure the agreement-in-principle of such creditors.

CapitalA creditors will never agree to compromise in switching the debts from CapitalA to AAX.

i3lurker Personally I dun see anything wrong in AAX issue 5 Billion shares to pay for Assets worth RM0.00 from CapA
its always willing buyer willing seller
so AAX Goodwill = RM10 Billion
so AAX net liabilities = RM10 Billion

likely AAX wil be insolvent in less than 12 months.
Giving a fake Solvency Test to BURSA is not a criminal offense.
everything is honky tonk

Post removed.Why?

Fernandes argued that the group’s PN17 status remains “an accounting issue” and does not accurately reflect the business viability and prospects of Capital A.

Bursa will tell Stony to fly kite and just show me the account to qualify for PN17 uplift.

Again my question put forward to TA analyst on regularisation plan to uplift PN17:

Question 3: Below are conditions to uplift the company from PN17, has capitalA done anything at all to comply with below conditions to uplift the company from PN17?

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

Do not blame government:
AAX and MAS done the debts restructure to start aflesh.

CapitalA current predicament is Stony own doing.

CapitalA fail the Bursa list company capital requirement needed to be uplift from PN17 and continue listing in Bursa. Hence suspension and delist from Bursa is inevitable.

CapitalA still can carry on the business as unlisted company. And later list some of the sunsidiary companies to raise capital for capitalA

By the way is SIA or CapitalA a PN17 company?

I3lurker had done the study and conclude: Airasia never make or do not know how to make money from flying passagers. The past precovid profit is from booking, buying planes in big numbers and sold them for profit.

This is his fact and I do agree with him.

Whether you are a scammer, trader, investor, speculator or newbie just beware:
If CapitalA fail to submit PN17 regularisation plan on or before 7 Oct 2023 deadline, Bursa can either allow the third extension or reject the request for extension and proceed to suspend and delist CapitalA from Bursa.

StartOfTheBull @SSLee
I don't think scammer trader or not is not up to us to judge.
How many readers here can raise their hands to indicate that they are not one of the speculators in share market?
07/09/2023 1:40 PM

You only got the same set of figure/data but it depend on how people interpret the figure/data to suit their own narrative or fact.

That is why there is a saying “Figures don't lie, but liars figure”

Know what happen Q2 EPS 27.5 sen. NAPS: RM negative 2.01
Whereas Q1 EPS: 1.4 sen. NAPS: RM negative 1.33

And this is the question I put forward to CapitalA IR on submitting PN17 regularisation plan:

Question 6: Looking at the dire situation of CapitalA balance sheet, is “Revised official submission deadline to October 2023, aim to execute the plan in 4Q23/1Q24” achievable or another request of extension in the making?
2Q2023
Capital and reserves:
Share capital: RM 8,659,652,000
Merger deficit: RM (5,507,594,000)
Other reserves: RM 266,894,000
Foreign exchange reserve: RM (1,657,962,000)
Accumulated losses: RM (10,151,810,000)
Equity:
Owner of the company: RM (8,390,820,000)
Non-controlling interest: RM (1,813,867,000)
Total equity RM (10,204,687,000)
(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.

These are questions I put forward to TA analyst on operating cashflow:
Question 5: What do you mean/where do you get the information operating cash flow inflow was stable at RM484.9mn, boosting the group’s total cash to RM735mn as at June-23?
As at 31/12/2022
Deposits, bank and cash balances: RM 469,985,000
Sales in advance: RM 1,428,011,000
As at 31/3/2023
Deposits, bank and cash balances: RM 589,594,000
Sales in advance: RM 1,546,450,000
As at 30/6/2023
Deposits, bank and cash balances: RM 735,003,000
Sales in advance: RM 2,024,943,000

Question 6: As at 30/6/2023: Deposits, bank and cash balances: RM 735,003,000. Sales in advance: RM 2,024,943,000. May I ask, using the advance sales/future revenue for current working capital how will that affect the future cash flow?

And this is the question I put forward to CapitalA IR on EBITDA and operating cash flow:
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)