Indonesia’s biggest mutual funds are liquidating stocks traded in Jakarta as local interest rates rise and growth slows, sending the nation’s benchmark equity index to the biggest drop among major markets this quarter.

Indonesian policy makers raised borrowing costs four times since June, sacrificing economic growth to help stem the fastest inflation since 2009 and the rupiah’s slide to a four-year low. Businesses in Indonesia are facing a number of challenges, from rising costs to interest rates and now the weaker rupiah.

The current-account gap in Indonesia swelled to a record $9.8 billion, or about 4.4 percent of gross domestic product, in the second quarter, Bank Indonesia data showed on Aug. 16.

The rupiah has depreciated more than 13 percent against the dollar this quarter, the worst performance among 23 emerging-market currencies, as foreign-exchange reserves fell to the lowest level in almost three years in July. Fed stimulus isn’t enough to solve Indonesia’s economic challenges.

But folks, tapering will happen, that’s a certainty. There will be consequences to the financial markets. So now it’s about how can we minimize the impact. Are you ready, folks? AirAsia Group & Malaysia, are you ready for another turmoil in the EMs?

Hmmmmmm...!

Folks, investor sentiment toward EMs has always been fickle. While EMs were the darling of investors after the global financial crisis, they now appear to be in retreat taking with them the currencies of emerging countries, which have depreciated this year between 16% to 5%.

Will emerging markets continue to be a good place to invest for foreign funds? Time will tell!

Employees Provident Fund Board

Disposed 23/09/2013 900,000

3QE in the red? Hmmmm..Time will tell!

Indonesia AA’s IPO may see further delays!

Budget airline AirAsia Bhd may opt to delay the initial public offering (IPO) of its Indonesia arm on the Jakarta stock exchange beyond 2015 due to the uncertainty created by the impending presidential polls there which will be held on July 9, 2014, said TA Securities.

AirAsia has been considering an IPO for PT Indonesia AirAsia since 2011 as it looks to raise proceeds to fund further expansion. It is now looking at the first quarter of 2014.

TA Securities does not discount further delays to the IPO as it will hinge on market conditions as well as Indonesia AirAsia's financial performance.

So how now? IPO proposal since 2011 & now 2015? AAI financial performance? Hmmmmmm......!!

D7 0171 26/09/2013 10:30 PM JEDDAH-KUALA LUMPUR CANCELLED

D7 0393 26/09/2013 08:00 PM WUHAN-KUALA LUMPUR CANCELLED

QZ 8162 26/09/2013 04:15 PM JAKARTA-KUALA LUMPUR CANCELLED

AK 5125 26/09/2013 01:50 AM K. KINABALU-KUALA LUMPUR

AK 5221 26/09/2013 01:00 AM KUCHING-KUALA LUMPUR

AK 5220 26/09/2013 09:00 PM KUALA LUMPUR-KUCHING CANCELLED

AK 5124 26/09/2013 08:20 PM KUALA LUMPUR-K. KINABALU CANCELLED

QZ 8163 26/09/2013 04:40 PM KUALA LUMPUR-JAKARTA CANCELLED

D7 0392 26/09/2013 09:15 AM KUALA LUMPUR-WUHAN CANCELLED

View here: http://flight.klia.com.my/fids.aspx

Folks, of course some of these stocks are cheap for a reason and will stay cheap for years to come as theirs slumping profit margins remain a problem for stock markets.

And falls in currencies real are a worry, eroding foreign investors' returns from local stocks.

Companies from the EMs can sustain return on equity (ROE) levels only by taking more debt. Remember folks, ROE measures how much profit a firm makes with shareholder's money.

It would be inaccurate to perceive Emerging Markets equities as cheap relative to returns they generate because their quality of RoE is deteriorating more rapidly than developed markets.

Worse still the Fed taper is just a potponement. Another turmoil in the EMs will definately drive another selldown in stocks & currencies by foreign investors.

So the big question folks, is AA making a loss for this coming 3rd quarter? For the 2Q13, the fact is AA making a loss without the sale gains in AA Japan.

Investors have short memories!

1. Breakdown on Total Revenue*:

Total Revenue*:
(2Q13) Rm 1.246b
(1Q13) Rm 1.300b

*Passenger seat sales:
(2Q13) Rm726.4m (down)
(1Q13) Rm795.4m

*Baggage fees:
(2Q13) Rm109.2m
(1Q13) Rm109.1m

*Aircraft operating lease income:
(2Q13) Rm155.5m
(1Q13) Rm149.5m

*Surcharges and fees:
(2Q13) Rm149.3m
(1Q13) Rm138.7m

*Other revenue:
(2Q13) Rm105.9m
(1Q13) Rm108.1m

***********************************

2. Folks, for your quick reference on 2QE13

Total Revenue:
(2Q13) Rm 1.246b (down)
(1Q13) Rm 1.300b

Operating expenses:
(2Q13) -Rm1.002b
(1Q13) -Rm1.045b

Finance Income:
(2Q13) Rm14.306m
(1Q13) Rm19.771m

Finance Costs:
(2Q13) -Rm109.412m (up)
(1Q13) -Rm106.294m

Foreign Exchange gains/(losses) on borrowings:
(2Q13) -Rm122.718m (up)
(1Q13) -Rm37.688m

Forex gain/(loss) on amt due from associate:
(2Q13) Rm8.228m
(1Q13) Rm4.889m

Current Taxation:
(2Q13) -Rm6.262m

Deferred taxation:
(2Q13) -Rm47.999

Share of results of jointly controlled entities:
(2Q13) Nil
(1Q13) -Rm2.346m

Share of results of associates:
(2Q13) Nil
(1Q13) -Rm1.420m


Profit after tax 2Q13 b4 AA Japan sale gain: -RM19.917m
####################################

Gain on disposal of interest in AA Japan 2Q13: Rm78.265

Profit after tax :
(2Q13) Rm58.348m (down)
(1Q13) Rm104.793m

Cash and cash equivalents:
(2Q13) Rm1.639b (down)
(1Q13) Rm2.156b

Trade & Other Payables:
(2Q13) Rm1.233b

Total Debt:
(2Q13) Rm8.813b (up)
(1Q13) Rm8.464b

Net Gearing:
(2Q13) 1.56 – after cash deduction on debt
(1Q13) 1.39 – after cash deduction on debt

***********************************

3. Capital commitments for property, plant and equipment

Approved & contracted:
(2Q13) Rm51.137b
(1Q13) Rm50.908b

Approved but not contracted:
(2Q13) Rm14.222b
(1Q13) Rm13.920b

Total amount:
(2Q13) Rm65.359b
(1Q13) Rm64.829b

4. Issues for 3QE13:
- No dividend
- 3Q earnings could be less compared to previous year quater earnings at RM157.81 million.
- Low-cost airline’s associates could eat into the group’s earnings.
- Turmoil in EMs. As of 28/6/13 52% of shares were held by foreigners.
- The weak ringgit will still dent earnings as a weak ringgit is not good for airlines in Malaysia, as most of their costs are borne in US dollars, specifically for fuel & borrowings.
- Possibility of making a loss this quarter is high.

5. Beware of little expenses: A small leak can sink a GREAT ship! Investors have short memories!

1Q13 USD agst MYR: Rm3.01-Rm3.12 Crude Oil: $91-$99
Proit: Rm104.793m

2Q13 USD agst MYR: Rm2.96-Rm3.22 Crude Oil: $88-$98
Profit: Rm58.348m (a LOSS of Rm19.917m if without AA Japan sale gains)

3Q13 USD agst MYR: Rm3.16-Rm3.33 Crude Oil: $92-$111
Profit/Loss? Time will tell

Folks, the weak ringgit will still dent AA’s earnings as a weak ringgit is not good for airlines in Malaysia, as most of their costs are borne in US dollars, specifically for fuel & borrowings.

Investors have short memories!

Remember folks, Fed taper is just a postponement. Sooner or later it will cause another turmoil in the EMs whether you like it or not.

So with 51% of AA shares held by foreigners & probably making a loss in this coming quarter, are you willing to buy & hold now when there are opportunity later?

Even the owner, local & foreign investors are not buying yet! Careful now!

Even though Brent Crude levels softened, the depreciation of the ringgit meant that carriers did not see any benefit from this.

Folk, the wise things to do when investing is to use your head & not to follow your emotions!

A small leak can sink a GREAT ship, folks!

Will the rally for AA continue? Remember folks critical support level at rm2.60, broken. Will AA close below rm2.60 for this week?

Careful now!

The cost environment for AA remains hostile with high fuel prices & U.S. dollar dominated borrowings compounded by a weak Ringgit!

3Q earnings a loss? Investors have short memories! Careful now!

Remember folks, never fall in love with a stock as its not going to be a faithful & loyal lover! Wakakakakakakak!!

Thanks bro! Heheheheheheh!!

The recent weakness of Malaysian Ringgit is unfavorable to AA on two counts, namely

(i) higher fuel costs as the imported fuel is priced in US Dollar,
and
(ii) its foreign denominated debts consequently grow larger in
Ringgit terms.

Trade & Other Payables plus Total Debt ended 30 Jun 2013 stood at Rm10.046 billion!

Beware of the little expenses; a small leak will sink a GREAT ship

Employees Provident Fund Board Disposed 20/09/2013 2,550,000

Why are the owner, local & foreign investors not buying when almost everyone here said its cheap (above rm2.60)? Probably the 3Q earnings is bad! Careful now!

TA target price for AA at Rm3.91 with some of the reasons as below:
i) IAA is expected to maintain its pole position in the
international segment;
ii) Its domestic market share is expected to hit 7% by end 2013
from 5% as at 2Q13;
iii) It is looking to close up the margin gap with MAA and TAA, and
iv) The proposed IPO plan could experience further delays.

Folks here are some of AAI flights that were Cancelled to & from KLIA. What aboutflight to & from other Indonesian airports itself? TA sleeping on the job? Hmmmmm...!!

QZ 8457 25/09/2013 10:25 PM BANDUNG-KUALA LUMPUR CANCELLED

QZ 8295 25/09/2013 09:20 PM SURABAYA-KUALA LUMPUR CANCELLED

QZ 8206 25/09/2013 07:35 PM JAKARTA-KUALA LUMPUR CANCELLED

QZ 8458 25/09/2013 10:50 PM KUALA LUMPUR-BANDUNG CANCELLED

QZ 8296 25/09/2013 09:45 PM KUALA LUMPUR-SURABAYA CANCELLED

QZ 8207 25/09/2013 08:20 PM KUALA LUMPUR-JAKARTA CANCELLED

A small leak can sink a GREAT ship!

Folks, U.S. Treasury Secretary warned on Wednesday the US government will have no more flexibility to juggle spending and meet its obligations after October 17, under a statutory debt cap.

That will leave the U.S. Treasury with only US$30 billion in cash to meet ever-mounting demands that can only be met by borrowing more money.

So how now, folks?

Folks, liquidity risk premium subsided but the overhanging worries persist. While the liquidity risk premium associated with QE3 taper may have somewhat subsided in the interim, but however, the overhanging worries over the eventual timing and pace of the QE3 taper persist.

Investors have short memories!

QZ 8457 25/09/2013 10:25 PM BANDUNG-KUALA LUMPUR CANCELLED

QZ 8295 25/09/2013 09:20 PM SURABAYA-KUALA LUMPUR CANCELLED

QZ 8206 25/09/2013 07:35 PM JAKARTA-KUALA LUMPUR CANCELLED

D7 0237 25/09/2013 12:30 PM PERTH-KUALA LUMPUR CANCELLED

D7 0173 25/09/2013 07:25 AM JEDDAH-KUALA LUMPUR CANCELLED

AK 5125 25/09/2013 01:50 AM K. KINABALU-KUALA LUMPUR CANCELLED

AK 5221 25/09/2013 01:00 AM KUCHING-KUALA LUMPUR CANCELLED

AK 6447 25/09/2013 12:01 AM KOTA BHARU-KUALA LUMPUR CANCELLED

QZ 8458 25/09/2013 10:50 PM KUALA LUMPUR-BANDUNG CANCELLED

QZ 8296 25/09/2013 09:45 PM KUALA LUMPUR-SURABAYA CANCELLED

QZ 8207 25/09/2013 08:20 PM KUALA LUMPUR-JAKARTA CANCELLED

AK 5124 25/09/2013 08:20 PM KUALA LUMPUR-K. KINABALU CANCELLED

D7 0236 25/09/2013 12:05 AM KUALA LUMPUR-PERTH CANCELLED

View here: http://flight.klia.com.my/fids.aspx

Now not everyone can fly! Heheheheheheh!!

Critical support level at Rm2.60 & Rm2.45 next! If broken then the next downside support will be at Rm2.33 & below.

Today & days to come, force sell in action. Next U.S. debt ceiling than Fed taper which will cause a panic herd mentality selling.

Do you think Rm2.60 is cheap? If yes, why aren't the owner, local & foreign investors on buying spree? 3Q earnings must be bad? You will be rewarded with a bargain price if you are patience, folks!

Volume traded
17 Sep: 15,036,300
18 Sep: 12,060,100
19 Sep: 20,882,700
20 Sep: 10,508,900

Force selling in the evening session to continue till friday? Will local & foreign buy more? Will the owners enter to support AA prices from falling further?

So far they are still on the sideline watching the price drop. Ain't Rm2.60 cheap? Just wait & see, getting cheaper soon folks!

The weak ringgit will still dent AirAsia’s earnings, said Maybank Investment Bank Bhd analyst Mohsin Aziz. “A weak ringgit is not good for airlines in Malaysia, as most of their costs are borne in US dollars, specifically for fuel,” he said.

Remember folks, 59% of its US dollar liabilities of its aircraft and engine loans into ringgit by using long-dated foreign exchange forward contracts while the balance 41% not hedged. Total debt and trade & other Payables: 2Q13 Rm10.046 billion.

AA entered into Singapore Jet Kerosene fixed swaps which represented up to 33% of its total budgeted fuel consumption for the second half of 2013 with a weighted average of price US$123.39 while balance 67% on spot price (3Q price: US$126-$129). Investors have short memories!!

The losses will come from AA’s operations in the Philippines & Japan. How about AA Indonesia?

The only growth will come from AA Thailand. The Malaysian operations, which saw a declining yield, will remain stable in 3Q. But can the yeild be transformed to profit?

Remember folks, AA CFO Andrew Littledale recently told The Edge Financial Daily that the significant drop in the group’s bottom line during the period was not reflective of its operational performance.

“Our operating profit grew y-o-y. The net profit was mainly affected by foreign exchange losses on loans,” he said.

How about high jet fuel price? Careful now as a small leak can sink a GREAT ship!

AA could see a poorer year-on-year performance for the seasonally weak 3Q ended Sept 30, 2013 as analysts expect losses at the low-cost airline’s associates to eat into the group’s bottom line. Last year 3Q earnings was at RM157.81 million.

A common sense question, time to sell, buy or hold, folks?

Optimism is denial, so face the facts and move on. It is wise to direct your anger towards problems not people, to focus your energies on answers not excuses.

Folks, AA going to test and make new low at Rm2.44 or a 1 month high at Rm3.17? Will AA close above the MYR2.60 critical support level this week?

Remember folks, the next downside support will be at Rm2.33 followed by panic herd mentality selling level. Careful now!

24/09/2013 TP rm3.91 TA
26/06/2013 TP rm4.16 TA
23/05/2013 TP rm3.78 TA

Have the foreign & local investors & the owners buy more? So far no folks & that show why the price drop from above Rm3.17 to Rm2.44! But why are they not buying given the wonderful TPs?

Could it be the 3Q13 earnings is very bad? Hmmmmm.......careful now, folks!!

Folks, the Fed shocked markets last week with its decision not to scale back its monetary stimulus.

Will the Fed shock the market again with its decision to taper in october this year? Another turmoil in EMs?

Folks, when is the best time to buy, now or later (Fed taper)? Also 3QE is not going to be promising too! So how?

Remember folks, never fall in love with a stock as its not going to be a faithful & loyal lover! Buy low, soon! Wakakakakakakak!!

Asian shares had rallied after the Fed's decision, and some fear the scale of the reaction portends trouble for some Asian emerging markets when the U.S. central bank eventually does cut back on its asset purchases.

Some emerging market currencies remained under pressure. The Indonesian rupiah fell 1 percent on Wednesday, close to a 4-1/2 year low.

Now USD-MYR trading at Rm3.2318 52wk High:Rm3.3377 52wk low:Rm2.9570. So what next?

Folks, Asian shares slipped and the dollar held steady against a basket of currencies in Asian trade on Wednesday, as concerns about a possible U.S. government shutdown and uncertainty about the Federal Reserve's policy outlook left investors hesitant to take aggressive positions.

So how now?

1. Total Debt:
(2Q13) Rm8.813b
(1Q13) Rm8.464b

2. 3Q13 USD agst MYR: Rm3.16-Rm3.33 Crude Oil: $92-$111

Folks, 3Q13 earnings going to end. Will the weakening ringgit, high fuel price & U.S. dollar dominated debt help AA to make record high profit? Worst still it does not end there as more bad news to come out from U.S?

What the evening session hold for AA, force sell? Careful now!

The ringgit opened weaker against the US dollar Wednesday, folks. As at 9.15am, the local note was quoted at 3.2220/2250 per US dollar from 3.2140/2170 yesterday.

Will the weak ringgit help AA in term of fuel prices & U.S. dollars dominated borrowings? Careful now.

Price Performamce:

1 month:
(28/08/13) Rm2.44 - Low
(19/08/13) Rm3.17 - High

6 months:
(28/08/13) Rm2.44 - Low
(05/06/13) Rm3.54 - High

One Year:
(28/08/13) Rm2.44 - Low
(05/06/13) Rm3.54 - High

Historical High: Rm4.00

Folks, give the good TPs why are foreign & local investors still selling? Why aren't the owners buying?

Remember folks, a small leak can sink a GREAT ship! Heheheheheheh!! So buy low & sell high. Will the rally continue?

Volume traded
17 Sep: 15,036,300
18 Sep: 12,060,100
19 Sep: 20,882,700
20 Sep: 10,508,900

Margin call & profit taking in the making from today? Heavy selling in the later session?

Will the rally continue? Why aren't the owners buying now which is trading near it year low at rm2.44? Think!

Remember folks, use your head and not emotions when investing. Face the facts and move on. It is wise to direct your anger towards problems not people, to focus your energies on answers not excuses. Heheheheheheh!!

For all of the U.S. stock market’s rally, corporate America still seems to be very cautious. Companies have withheld $2.2 trillion in investment since the financial crisis, including $500 billion last year when things were supposedly looking up.

This caution should be alarming to investors who are buying stocks of these companies at a boom-time pace when the companies themselves are investing at a recession-era pace. CEOs, in fact, are becoming less enthusiastic about the economy.

All of this raises the question: What do the CEOs know that we don’t?

I don’t have the answer folks, but I could guess that they see the troubling trends mentioned along with others: the still at-risk financial system, the currency woes that are denting exports, and foreign conflicts such as the Syrian civil war that are drawing superpowers and regions into potential conflict.

Meanwhile, the market churns on near almost daily new highs. The biggest fear of investors? Remember folks, AA still trading almost at it year low Rm2.44 & the owners are not interested buying more at cheaper price now. Ask youself, WHY?

Folks, consider these looming issues: The looming government shutdown, cash crunch, debt-ceiling crisis.

During the next two months U.S. Congress must first approve a spending bill that keeps the government running. Second, it must agree to raise the debt ceiling for issuing new federal debt beyond Oct. 15 or so, about which time the U.S. government would either:
a) default on its obligations or
b) see its credit rating lowered.

Finally, Congress must somehow placate, or work around, the hard-line Republican block in the House that’s demanding that Obamacare be stripped of its funding as a condition to agreeing to tasks one and two.

For investors, as these deadlines draw nearer, you can bet the market will react, and not in an orderly manner.

Of all these, the most important is the debt ceiling. And default isn’t the problem, it’s the more likely scenario of a ratings cut. That would throw global markets into turmoil.

Funds required to have a certain amount of top-rated securities may have to dump U.S. debt. Panic could ensue. So will KLSE be spared from this turmoil when its one of the EMs?

Hmmmmmm......... you tell me!

Folks, if you’re an investor in stocks or bonds or have a loan with a variable interest rate, you’re probably watching the “taper” headlines closely.

The “taper,” of course is the Federal Reserve’s plan to end its up to $85 billion a month bond buying program. The bond buying was designed as a sort of back-door stimulus package. It’s supposed to free up cash for investment in the economy. Without it, that investment could shrivel, job growth slow, the economy stall even more.

Raising interest rates is next on the Fed’s agenda. So, when there’s talk about the taper, it’s only a matter of time before borrowing costs more.

There are more pressing concerns for investors — a few of them, in fact. The bond-buying program is helping little and actually making matters worse by expanding the Fed’s balance sheet to bubble-sized proportions.

Could more of QEs turn the Western capital markets into one gigantic Ponzi scheme, one in which government borrowing is financed by another government department printing money?

Volume traded
17 Sep: 15,036,300
18 Sep: 12,060,100
19 Sep: 20,882,700
20 Sep: 10,508,900

Margin call & profit taking in the making from today? Heavy selling in the evening session later? Time will tell! Careful now! Hahahahahahahah!!

Folks, IMF has cut its growth forecast for the Philippine economy. The lowered outlook came following an IMF mission in Manila last September 17 to 20.

“As in other emerging markets following the announcement of prospective tapering of asset purchases by the US Federal Reserve in late May, Philippine assets saw selling pressure that caused the peso to weaken and market interest rates to rise,” the IMF said in a statement.

“Recent delay in the commencement of tapering led to some reversal of previous market developments,” it added.

Will Malaysia fair better than other EMs? Remember folks, the upside volatility in EMs was huge. When the Fed tapers later in the year there'll be even greater downside volatility. More than we thought!

Careful now. A small leak can sink a GREAT ship! Heheheheheh!!

Remember folks in India, however, there is no great difference between low-fare and full-service airlines in terms of fares and operating costs.

Though Tata Sons could convince itself that AA is at the low-fare end and the SIA venture is at the full-service end of the aviation market, the businesses may end up competing against each other for the same set of passengers. The cost of fuel, airport charges, employees’ salaries and others would be same for both ventures, apart from other common challenges.

So how? Hahahahahahahahahah!!

Folks, Tata Sons Ltd will try to leverage the strength of its group companies and Singapore Airlines Ltd will provide expertise and access to its global network in their new joint venture airline that will be called Tata SIA Airlines Ltd which will entail an investment of $100 million, and, in which, Tata Sons will hold 51% and SIA the rest.

Singapore Airlines also said that it “will not raise any loan in India to capitalize the Indian JV company”. SIA clarified this means only internal funds will be used for the new airline.

The board of Tata SIA will be controlled by Tata group!

Folks, the new full-service carrier proposed by India's Tata conglomerate and Singapore Airlines could take off as early as December, ahead of the country's general election due next May.

India's Civil Aviation Minister Ajit Singh is said to be keen to fast-track the US$100 million start-up during the remaining tenure of the Congress-led government, which is pushing for foreign participation in various sectors.

Experts believe that the government will roll out the red carpet for the venture, which will be 51 per cent owned by Tata Sons and 49 per cent by SIA. Meanwhile AirAsia India JV plan to start with only US$30 million. Hmmmmm.......!

Differences seem to have cropped up among the shareholders of AirAsia India, a day after the Tata Group announced to form another airline joint venture with SIA last Thursday. Arun Bhatia, who is a director on AA India board and owns 21 per cent in the company through Telestra Tradeplace, accused the Tata Group of being unethical.

So it could be argued that Tata Sons has its heart in the full-service venture and its head in the low-fare one. But the Tata case is different: two separate companies with two different sets of partners.

Tata Sons has had a long tryst with the airline industry. This is its third attempt to launch a full-service airline, after being thwarted twice by political and corporate intrigue.

Tata Sons says that the AA and the SIA ventures will cater to different market segments—one will be an ultra-low fare airline while the other will be a premium airline.

In India, however, there is no great difference between low-fare and full-service airlines in terms of fares and operating costs.

Though Tata Sons could convince itself that AA is at the low-fare end and the SIA venture is at the full-service end of the aviation market, the businesses may end up competing against each other for the same set of passengers. The cost of fuel, airport charges, employees’ salaries and others would be same for both ventures, apart from other common challenges.

So how?

WELLINGTON MANAGEMENT COMPANY

Disposed: 29/08/2013 4,224,200
Disposed: 30/08/2013 4,913,500
Acquired: 30/08/2013 6,900
Disposed: 02/09/2013 4,793,000
Disposed: 03/09/2013 1,906,200
Disposed: 04/09/2013 2,007,900
Disposed: 05/09/2013 15,858,120
Disposed: 06/09/2013 1,750,000
Disposed: 09/09/2013 1,804,935
Disposed: 10/09/2013 2,740,900
Disposed: 11/09/2013 2,819,400
Disposed: 12/09/2013 2,445,000
Disposed: 13/09/2013 4,138,800
Disposed: 17/09/2013 196,000
Disposed: 18/09/2013 2,668,500
Disposed: 19/09/2013 2,906,900

One of the major shareholder which is an aggressive seller in the market, but why? Hmmmmm........bad 3Q13 earnings?

24/09/2013 TP rm3.91 TA
26/06/2013 TP rm4.16 TA
23/05/2013 TP rm3.78 TA

1Q13 USD agst MYR: Rm3.01-Rm3.12 Crude Oil: $91-$99
Proit: Rm104.793m

2Q13 USD agst MYR: Rm2.96-Rm3.22 Crude Oil: $88-$98
Profit: Rm58.348m (a LOSS of Rm19.917m if without AA Japan sale gains)

3Q13 USD agst MYR: Rm3.16-Rm3.33 Crude Oil: $92-$111
Profit/Loss? Time will tell

Cash and cash equivalents:
(2Q13) Rm1.639b
(1Q13) Rm2.156b

Trade & Other Payables:
(2Q13) Rm1.233b

Total Debt:
(2Q13) Rm8.813b
(1Q13) Rm8.464b

Folks, TPs in favor of AA but yet still trading far lower. Buy why local & foreign investors still dumping this share? Maybe 3Q13 earnings is detoraiting very fast! Careful now!

22/08/2013 TP rm3.94 RHB
22/08/2013 TP rm3.78 MIDF
22/08/2013 TP rm2.95 MAYBANK
22/08/2013 TP rm3.51 KENANGA
22/08/2013 TP rm2.90 HWANGDBS
22/08/2013 TP rm3.08 HLG
22/08/2013 TP rm3.45 CIMB
22/08/2013 TP rm2.80 AMMB
16/08/2013 TP rm3.94 RHB
21/06/2013 TP rm3.94 RHB
23/05/2013 TP rm3.94 RH

D7 0303 24/09/2013 07:15 PM HANGZHOU-KUALA LUMPUR CANCELLED

QZ 8162 24/09/2013 04:15 PM JAKARTA-KUALA LUMPUR CANCELLED

AK 5231 24/09/2013 08:45 AM KUCHING-KUALA LUMPUR CANCELLED

AK 5125 24/09/2013 01:50 AM K. KINABALU-KUALA LUMPUR CANCELLED

AK 5220 24/09/2013 09:00 PM KUALA LUMPUR-KUCHING CANCELLED

AK 5124 24/09/2013 08:20 PM KUALA LUMPUR-K. KINABALU CANCELLED

D7 0172 24/09/2013 11:30 AM KUALA LUMPUR-JEDDAH CANCELLED

view here: http://flight.klia.com.my/fids.aspx

1Q13 USD agst MYR: Rm3.01-Rm3.12 Crude Oil: $91-$99
Proit: Rm104.793m

2Q13 USD agst MYR: Rm2.96-Rm3.22 Crude Oil: $88-$98
Profit: Rm58.348m (a LOSS of Rm19.917m if without AA Japan sale gains)

3Q13 USD agst MYR: Rm3.16-Rm3.33 Crude Oil: $92-$111
Profit/Loss? Time will tell

Cash and cash equivalents:
(2Q13) Rm1.639b
(1Q13) Rm2.156b

Trade & Other Payables:
(2Q13) Rm1.233b

Total Debt:
(2Q13) Rm8.813b
(1Q13) Rm8.464b

Care to share on the prospect of 3Q13 earnings, folks?

Asian markets have already surrendered most of the gains made since the Fed's decision, suggesting the euphoria is over and that investors are now making a more sober assessment of tapering risks.

Will the rally continue since Fed tapering is a bigger risk to Asia markets? Heheheheheheh!!

EMs are relatively illiquid and shallow, so when sentiment does change it tends to have an exaggerated impact as everyone is rushing for the door, and it's just a small door, all at the same time. This particularly in EMs like Indonesia and the Philippines. So will Malaysia be any different if Fed decided to taper?

Remember folks, Fed tapering a bigger risk to Asia markets than assumed! Careful now!