I would like to follow-up up on the point brought up by Jeffreyteck on who the so-called non-controlling interests are. It is indeed very odd that for the 3 months consolidated statement ended 30 June 2019 (available from the Bursa Website for Bpuri) profits attributable to the owners of the company for the 3 months ended 30 June 2019 is only RM 324,000 while profits attributable to the non-controlling interest is RM 5,091,000. For the 18 months ended 30 June 2019 profits attributable to owners of the company is only RM 500,000 while that for non-controlling interest is a huge RM 32,449,000. As Jefferyteck pointed out this is indeed very odd.

Does anyone know who the non-controlling interests receiving the bulk of the profits are, while owners (I assume shareholders) are getting hardly anything. I think we need this clarified before subscribing for the rights issue since nearly all the profit appears to be going to the so called "non-controlling interests".

Perhaps we, as shareholders, should first have a brief meeting among ourselves at 9.30 am before the EGM at 10 am on 22 October so that we can discuss this matter and arrange to collectively seek clarification from the Bpuri Board on the issue during the EGM. We really need this clarified before subscribing to the rights issue to protect our (shareholders) interests.

Jeffreyteck, are you coming for the EGM on 22 October? Hope others coming for the EGM will also have a look at the consolidated Financial Statement for the year ending 30 June 2019 for Bpuri, available at the Bursa website and also share their views on this matter here.

Calvin, you are the laughing stock of the i3investor community. Nobody takes your comments seriously. The market reaction has time and time again proven to be the reverse of your empty vessel (making the most noise) comments. Just accept the fact that you have very poor investment analysis skills and stock analysis is just not your forte!!

The low life con man calvintaneng,as indicated by other forumers, tends to read charts and trends upside down. This poor guy seems to be not aware that the bulk of i3 forumers regard him as garbage and an internet troll. But as is normal for this guy he reads everything upside down, including i3 forumers very poor perception of him and his views. LOL!!!

Agree with John Lu. Just ignore this calvintaneng. This troll moves from counter to counter making a nuisance of himself. His lack of class speaks for itself in the way he writes. Just ignore this troll.

I also agree a price target of RM 1.00 by the first half of 2017 is a very realistic target. As per the 3rd quarter 2016 report the net assets per share of the company is RM 1.32, way above the current market price of the stock. The company has excellent track record in its field with successful completion of many icon projects. Further, as indicated in their press statement along with the 3rd quarter report, the company has historic high order book. The projected higher oil price for 2017 compared to 2016 as well as the higher USD against the ringgit also augurs well for this counter, going forward in 2017. In addition, recent move into successfully diversifying into high growth markets such as India and Thailand and project wins there are also positives for the company.

Calvin, the more you write there is more evidence that you do not do any analysis but just cook up fairy tales. Calvin, if you have read the financial reports (doubt your competence in this), before cooking up your fairly tales, it would have been apparent that in Q2 2016 Air Asia made a net operating profit of RM 276 million when its average passenger fare is only RM153 (one way) for that quarter(Q2). Judging from your comments of return fares to Singapore at S$136 (RM 408) or approx RM 204 one way this is way above its average highly profitable passenger fare for Q2. Even if Air Asia prices the return fare to Singapore at S$100 based on the above it will still be profitable to Air Asia due to its low cost structure that cannot be matched by other competing airlines. So Calvin please go back to your car salesman job in Singapore, as Malaysians (and I am sure Singaporeans) do not need your garbage.

Calvin ,the Singaporean is unknown in Singapore investment circles (I checked with contacts in Singapore) but pretend to be a smart alec here. Sorry, Calvin, Malaysians are not suckers to believe your fairy tales. Better for you to focus on your car salesman job.

Yes, we look at the future potential of the company and not live in the past like Rain T. Something tells me that dragonofdark who has lost all credibility has transformed from a dragon to a snake. Both his chosen name has also the work "dark" and "black" reflecting his evil intentions. I would not be surprised RainT is also one of his accounts. Anyway, serious stock market players will make their own judgment based on proper analysis and not on what others say.

Calvin, Singaporean whose views are not even acknowledged in Singapore investor community trying to be a smart Alec here. The various negative views expressed here shows your views are not respected or wanted here. Just get lost!

Dragonofdark Appreciate your subtle admission that you have been wrong in your recent assessment on the performance of Sendai shares. Wishing you the best going forward. You may wish to note that the chartist approach to stock market evaluation is no longer relevant in this dynamic global economy, where the past is not an indication of what the future holds. Bye.

Dragonofdark still posting here despite all the people who believed you must now be cursing you for your very poor advice. Remember your target price of 0.345 cents re your posting on 25 Aug 2016? On the contrary, Sendai has outperformed the market and up by about 40% since your comment. Nobody will take you seriously and your motive for your postings is obvious for all to see. You claim to be good at reading charts. Really? You must be reading the charts up side down! Hahaha LOL

Great to note that Eversendai is continuing to do well in many countries in iconic projects through international competitive bidding. It is thus very disappointing to note that EPF, while investing billions abroad, is not supportive of our very own highly competitive global companies, as seen by their persistent sales of the shares of this company.

ycbang and Luffy, and others affected by the Pilecon suspension, please contact me at nair8888@gmail.com
We need to meet urgently and approach the management collectively to update us. The company is still operating.

ycbang. I would also like to know. The company is still in operation and despite being delisted, we as shareholders still have a right to know what is happening. Others in similar position please also post here. We should act collectively to protect our interest.

sayakamiyuki - Pls provide evidence when posting. For your information, the useful life of the aircraft (based on page 125 of the 2014 full annual report of AAX) is 25 years. Thus, the value of the aircraft is spread over 25 years in the P & L account and not over 10 years. Further, newer aircrafts are also more fuel efficient due to more advanced technology thus saving on fuel cost. In addition, older aircrafts that are sold are still serviceable and normally purchased by other airlines or charter companies and this will also generate cashflow for the purchase of the new aircraft. Thus, your argument that rights issue will be required based on aircraft purchase does not seem to have any basis.

The CIMB Research target price for AAX in August 2013 was RM1.47. Just google "cimb+target price RM1.47+2013". Seriously, do you really think the target price set by a research firm with such poor track record of predicting AAX target price deserve any attention? Good luck if you do! As for me,the very poor past record of CIMB research in relation to AAX target price speaks for itself. Of course, I do not expect retards like Nekosong, or whatever his ID is, to understand this.

willc48. Please check your facts before posting so that you do not mislead people. There is no India AAX, only Air Asia India. In case you are not aware, Air Asia and Air Asia X are different companies with separate listings in the KLSE and with different forums in i3investor.

DK122, you are right that the warrant will normally track mother share. However, the warrant has risen too much in relation to the mother share, perhaps due to retail investors not understanding what a warrant is. Over the last one month or so, the warrant has gone up from around 6 cents to around 17 cents, a rise of nearly 200% while the mother share has risen from around 18 cents to around 30 cents, a rise of around 70%.

Have been following this site for a while now. I would like to state my thanks to radzi and jjchan for the very constructive and insightful contributions to the discussions on aax. I agree with most of their analysis in this site. Perhaps, my only point of difference is JJChan's view on aax warrants. I agree that the warrants were cheap when it was going for around 6 cents or around 30% of the mother share value. However, at current prices the warrants are about 60% of the mother share value which I feel is too high. In fact, based on the AAX bursa announcement yesterday, the aax director sold his warrants at 17.5 cents and bought AAX shares at around 30 cents, albeit in small amounts.

As for Neko and Traderman, these clowns are too brainless to know that they are unwanted here. Just ignore them!

Radzi, good observation on the revenue angle. This implies higher average fares for the period.

Although load factor for Air Asia X Bhd for the financial year has declined by 7% points the trend looks very encouraging. According to the same report the Q4 load factor for Air Asia X was 83% even higher than that for the corresponding quarter in the previous financial year of 81%. The drop in the passenger numbers is not a cause for concern here if this is as a result of removing unprofitable routes and focusing on the profitable routes.

Hotrod, the drop was only one sen on low volume in an overall weak market. Also agree with the rest it is not a new business. Hotrod, do some research before making comments.

Also agree with valueinvestor000. If everyone thinks like Hotrod there will be no new business ventures. The key is that proper due diligence should be done beforehand.

Eversendai venturing into Thailand. See latest announcement.

jjchan good analysis. However, to provide a complete picture you should also note that while MAS may be rationalising Malindo is starting new routes in direct competition with AAX. They have just started with Perth and has plans to also service Sydney and Melbourne. In addition, Malindo have also announced plans to include Jeddah and North East Asia, including cities in China and these cities are currently already serviced by AAX. These developments could possibly result in increased price war with Malindo for market share and could have an impact on AAX turnaround plans for 2016. Just expressing my concerns.