Posted by JrWarren > 3 weeks ago | Report Abuse

Figure speaks, profit or loss depends what you focus.
Uncle aunty without financial knowledge look at current figure and predict what comes next, so they know it is loss making.
Investor who know the industry well focus on future new business model and current figure under the new business model (non-aviation), that why after reading the first 3 statements in quarterly report, investor dig more details at the back pages to learn about the non-aviation business is making profit or loss.

Do you know what is the EPS or LPS of non-aviation business?
You will be surprise to learn this info once you found out.

Posted by Sslee > 3 weeks ago | Report Abuse

ADE
● Segmental revenue reached RM173.9 million with an EBITDA of RM38.9 million.

Santan
● Segmental revenue of RM48.8 million up by 88% YoY, with EBITDA
of RM4.1 million

Teleport
Segmental revenue of RM225 million up 35% YoY, with EBITDA of RM2.5 million

AirAsia MOVE
● AirAsia MOVE generated revenue of RM128 million and EBITDA of RM19 million

BigPay
● Revenue reaching RM9.8 million and an EBITDA loss narrowing 25% to RM18.8 million

Capital A International
Revenue stood at RM54 million, declined slightly by 8% QoQ in line with the Aviation Group’s revenue trend. However, grew by more than 10x YoY.
● Posted EBITDA of RM24 million, a turnaround from RM20 million in EBITDA loss in previous year.

Posted by Balian de Ibelin > 3 weeks ago | Report Abuse

I always never ceased to be amazed by the blatant lies and forgeries of Pumpers of CapA shares. 🤣
Everyday these CapA pumpers antics always sinks to new moral lows 🤣

Posted by Balian de Ibelin > 3 weeks ago | Report Abuse

Santan profit EBITDA 4.1 million?

Just 2 restaurants in a Malaysia chain of umpteen restaurants already exceeds this figure and the staff so relaxed working conditions.

1 restaurant makes 250K Net Profits per month = RM3 Million Net profits per year

Posted by Sslee > 3 weeks ago | Report Abuse

BigPay
● Revenue reaching RM9.8 million and an EBITDA loss narrowing 25% to RM18.8 million

Balian de Ibelin BigPay was a total disappointment.
BigPay alone could be valued at up to RM60 Billion if executed properly.
Stony is a good entrepreneur but just another useless failed manager. 🤣

Many execution issues in BigPay. I have cut my BigPay card, and uninstalled the App, I believe many also did the same

Posted by Balian de Ibelin > 3 weeks ago | Report Abuse

all CapA non-aviation have extremely low profit margins.
Extreme high risk coz slight GDP downtrend and whole thing "non-aviation" just collapses

Posted by Balian de Ibelin > 3 weeks ago | Report Abuse

One feedback I get from all this lies and forgeries
That all these CapA supporters; its like they have never ever worked at any other companies before in their life.
Malays call it katak dibawah tempurung.
They have never ever worked before in other high profit world class companies before..... where huge profits are normal and expected with above average employee benefits.
In other companies, losses are vulgar and profits normal.
In CapA, losses are normal and small profits are called the best in the world winning prizes. 🤣

Posted by paulthesotong > 3 weeks ago | Report Abuse

Brent well down below 74.. awesome earnings coming next quarters.

Posted by Balian de Ibelin > 3 weeks ago | Report Abuse

whenever crude goes down => recession.

recession companies chop off travel.
Sacked CEO plus sacked wife with all sacked children, I believe they travel less. 🤣

=> Overseas airlines always prefer high crude oil costs.

Posted by Balian de Ibelin > 3 weeks ago | Report Abuse

There is extreme dichotomy in expectations between local mindset to prefer and pray for recessions.
You get what you pray for.

Whereas alll foreign airlines prefer boom times with all costs as raised high, since the raised revenue always exceeds raised costs like example crude prices.

Posted by paulthesotong > 3 weeks ago | Report Abuse

we'll see about that!

Posted by Balian de Ibelin > 3 weeks ago | Report Abuse

Just speak to any non-Malaysian foreign airline CEO, all will prefer boom time economy with high crude prices with higher revenue.

Posted by JrWarren > 3 weeks ago | Report Abuse

Ya, we will see about that.
My eye is looking at current financial.
My brain is thinking the possible future outcome.
My excel is recording the non-aviation segment figures.
Opportunity comes to those who prepared and ready to act.

Posted by Mabel > 3 weeks ago | Report Abuse

Haha Capital A so steady..

Thank you so much Uncles and Aunties for pressing the price down yesterday...

Meow Meow Meow

Posted by Jojobama > 3 weeks ago | Report Abuse

Just my personal opinion and am trying to look at it in a more logical way.

All their non-aviation businesses depend heavily on their own aviation business, i.e. ticket sale, belly space, travel insurance, card transaction, in-flight meal, aircraft services etc. They do good if the aviation side is performing and vice versa. Basically, they are just internal departments providing supports to the core business and don’t have much external income. But they put these businesses into different entities to create ‘value’.

Just like a company carving out their own HR department and form an entity to house this department. They call it best HR advisor/provider in town and valued it at an absurd amount, but then all revenues are still from the said company. If the said company stop giving this entity revenues, can it survive on its own? If no, what sort of value does it have?

Balian de Ibelin
all CapA non-aviation have extremely low profit margins.
Extreme high risk coz slight GDP downtrend and whole thing "non-aviation" just collapses

Posted by abidinaa > 3 weeks ago | Report Abuse

The non-aviation businesses are risk free and recession proof. Air planes in the air or grounded, they are still making tonnes of money. The question is how many tonne.

Posted by abidinaa > 3 weeks ago | Report Abuse

And pandemic proof I might add.

Posted by JrWarren > 3 weeks ago | Report Abuse

STony has better logic than anyone else and ensure every flight hit the break-even load factor (Tony mentioned once is about 63% before covid, now not sure) before the flight take off, hence 80% ~ 90% load factor is a profitable flights.

Business model illustration: https://imgur.com/8K1weV2

Stony sell ticket first and collect money first, so cash come to pocket first. If the load factor of the flight not enough, give promotion.
Air ticket fee structure always got 3 parts: ticket price ( RM1 to RM xxx, whatever profit AA want to make) , fuel charge (fix cost paid by client) and tax (fix cost).
First, Tony needs to get as much as people join the flight , so the fuel cost is shared among all the passengers, once fuel cost breakeven, whatever extra is profit.
2nd, AA sell ticket in advance, which flight load factor is low, pump the promotion, client buy ticket, money masuk pocket.
3rd, Maintenance dept is the main non-aviation profit driver, as long as AA aircraft in the sky, aircraft must obtain clearance b4 flying. This means more flight, more checkup = more profit.
4th, As long as it is Airbus brand , AA can repair regardless MAS, SIA, ANA , JAL .... CAP A can survive without AA, but of course AA has the priority on this maintenance service first la... I heard MAS repairman not only korek by SIA, but Tony also korek from MAS ... lol
5th, Clearly u read this industry as an outsider with inappropriate example. Ignorance on the business model and dont even do a homework on the non-aviation business EPS.

Posted by human > 3 weeks ago | Report Abuse

When Amazon started in the midst of dot com bubble in the 90s, amazon only sell book online.
After the dot com bubble burst in 2000, Amazon faced with the doubt of online business viability. Amazon growth from selling book to entire online retail ecosystem that later other like alibaba, JD emulate.
Amazon does not lack of naysayers until Amazon make profit and growth to a global retail giant.
History proof these naysayers is a joke.

Capital A start as a pure airline company from loss making to profitable and then dividend paying before the pandemic.
Now like the dot com crisis, Capital A faced with financial aftermath of the pandemic. Capital A is now growing the businesses from pure airline to business and leisure tourism services solution ecosystem.
Look at the business model and then do logical check whether the company progress in that direction.
Company making profit is dependent on business direction and implementation capability.

Posted by Sslee > 3 weeks ago | Report Abuse

You need to look into the regional competitors and ask the question do capA have cash to burn before the business can turn into a profit?

Can the EBITDA enough to pay for finance cost and repayment of borrowing?

Repost:
ADE
● Segmental revenue reached RM173.9 million with an EBITDA of RM38.9 million.

Santan
● Segmental revenue of RM48.8 million up by 88% YoY, with EBITDA
of RM4.1 million

Teleport
● Segmental revenue of RM225 million up 35% YoY, with EBITDA of RM2.5 million

AirAsia MOVE
● AirAsia MOVE generated revenue of RM128 million and EBITDA of RM19 million

BigPay
● Revenue reaching RM9.8 million and an EBITDA loss narrowing 25% to RM18.8 million

Balian de Ibelin BigPay was a total disappointment.
BigPay alone could be valued at up to RM60 Billion if executed properly.
Stony is a good entrepreneur but just another useless failed manager. 🤣

Many execution issues in BigPay. I have cut my BigPay card, and uninstalled the App, I believe many also did the same

Posted by human > 3 weeks ago | Report Abuse

CEOs from Boeing, Airbus are worries that they cannot keep up with global plane demand.
Travel news authority like Skift business intelligence publish topic on how hot tourism M&A is besides major hotels conglomerate race to build.

Posted by human > 3 weeks ago | Report Abuse

perspective only see problem tend to miss out the reality that this is nature of business growth and along with this the challenges need to overcome.
Now are not like the 70s running business with own cash. This is an age of business model, fund raising exercise through various means.
Read more from expert and leaders that bring better business senses.

Posted by Sslee > 3 weeks ago | Report Abuse

CapA last Fund raising RI is not to recapitalise it equity but to reward the shareholders with pofit-sharing/interest paying capitalA-LA with free warrants capitalA-WA.

So do you think AAX able to raise equity funding of RM 1 billion with PP to third party?

Posted by human > 3 weeks ago | Report Abuse

That AAX plan under the restructuring.

Posted by Trianon > 3 weeks ago | Report Abuse

Let's go to Russia 😁
https://www.bernama.com/en/news.php?id=2337297

Posted by paulthesotong > 3 weeks ago | Report Abuse

Brent down 71,Int Rates cut, Summer/ Festive travels, Asian Currencies up against USD, Competitors bite the dust, Hike in Capacities...

Posted by human > 3 weeks ago | Report Abuse

Those that spread false information that aax acquiring capital a aviation business will cause aax fall into pn17 is very irresponsible. If one read the proposal of the restructuring will understand that aax will not fall into pn17 post acquisition, the answer is in the proposal.

Posted by Sslee > 3 weeks ago | Report Abuse

If a PN17 company with loss making aviation business transfer all the aviation' assets and liabilities to a new company and that new company failed to inject in new capital to recapitalise the equity, will that company become a PN17 company?

AIRASIA X BERHAD (“AAX” OR THE “COMPANY”)
(I) PROPOSED INTERNAL REORGANISATION;
(II) PROPOSED ISSUANCE OF FREE WARRANTS;
(III) PROPOSED PRIVATE PLACEMENT;
(IV) PROPOSED AAAGL ACQUISITION;
(V) PROPOSED AAB ACQUISITION; AND
(VI) PROPOSED SHARE CAPITAL REDUCTION

The Proposed Private Placement is intended to raise gross proceeds of RM1,000.00 million. The quantum of gross proceeds has been determined upfront while the issue price has not been determined at this juncture in order to provide flexibility to the NewCo Board in respect of the pricing of the Placement Shares.

Posted by Sslee > 3 weeks ago | Report Abuse

By the way this time round I will make makeself a AAX shareholder so that I can ask the tough/difficult questions during AAX EGM.

Posted by Sslee > 3 weeks ago | Report Abuse

As at 30/6/2024
RM'000
Non current assets 26,053,575
Current assets 2,319,481
Non current liabilities 23,819,165
Current liabilities 15,798,326
Net current liabilities (13,478,846)
Total equity (11,244,436)
NTA RM (2.12)
Note:
Current lease liabilities 5,510,697
Current trade and other payables 4,725,450

Is capA with above financial balance sheet a tecnically insolvent/bankrupt company?
How on earth can capA not default on net current liabilities of RM 13,478,846,000 in the next 12 months?

This is the word of auditor.
We have assessed the reasonableness of the cash flow projection provided by the management (Note 2.1). The going concern of the Group is dependent on the following:
1. Successful implementation of a Revenue Bond program; and
2. Continuous support from Group's lessors5

Posted by Jojobama > 3 weeks ago | Report Abuse

when amazon started the online concept was still new to everyone. they have improved tremendously throughout their business journey.

while on the other hand, the non-aviation businesses of Capital A are still in infant stage. bear in mind that capital a is very late to this game. they have to run 10X faster than their competitors in order to catch up. they have to compete with many well established giants in the respective areas, do they have the capacity or funds to do so?

you could say by way of fundraising, but would people with sane mind really put millions or billions into developing something which is already in existence and keep improving.

or this is just some gimmick for them to prolong the inevitable.

Posted by human > 3 weeks ago | Report Abuse

Which Sea company has anything near to capital a complete business and leisure travel solution?
Business veteran don't mean can handle crisis well and continue growth.
Example Mas cannot even manage their own catering.
SIA prevented going burst with help from government.
Amazon has many round of fund raising before making profit, successfully growing from book selling to retail to now conglomerate; naysayers said no way Amazon can challange giant like Walmart, best buy, did that sound familiar?

Posted by Sslee > 3 weeks ago | Report Abuse

Know what recently I use MOVE to check on flight and what amazing me is rival airlines flights (lion air) are cheaper.

But as Malaysian I still book AA flights but for Indonesian for sure they will book lion air because it is cheaper.

Posted by Sslee > 3 weeks ago | Report Abuse

Is it foolish to compare Amazon with capA?
What is the adrressable market and competitors of Amazon and capA?

Posted by Sslee > 3 weeks ago | Report Abuse

99SMART is now many times bigger than capA.
What Stony going to say now?

KLSE: 99SMART (5326) 99 SPEED MART RETAIL HOLDINGS BERHAD MAIN : Consumer
Last Price Today's Change Day's Range Trading Volume
1.88 +0.23 (13.94%) 1.85 - 1.91 294,336,700

Market Cap: 15,792 Million
NOSH: 8,400 Million

Posted by human > 3 weeks ago | Report Abuse

Sslee didn't u said that aa too cheap to make profit? Lion air cheaper so worst than aa?
The point to check is whether aa fly with how many empty seats.
I been traveling around sea, to get cheap aa flights on short notice is not easy, most of the time is buying other airline not due to price but seat availability.

Posted by human > 3 weeks ago | Report Abuse

Sslee learn from other business experience, Amazon is one of the example, broaden business view instead of auditor that only check compliance that has no clues how owner of business turnaround, growth business.

Posted by The_JQuestion > 2 weeks ago | Report Abuse

Oil price drop USD drop cap A drop AAX drop ....... bursa drop , durian drop

Posted by Sslee > 2 weeks ago | Report Abuse

Is someone saying Balian is right all this while?

Posted by Balian de Ibelin > Sep 4, 2024 5:21 PM | Report Abuse
Just speak to any non-Malaysian foreign airline CEO, all will prefer boom time economy with high crude prices with higher revenue

Posted by paulthesotong > 2 weeks ago | Report Abuse

oil at 69 icing in the cake.

Posted by paulthesotong > 2 weeks ago | Report Abuse

soft landing.

https://theedgemalaysia.com/node/726344

Posted by The_JQuestion > 2 weeks ago | Report Abuse

Yes only good for USD demoninators not asian weak currency ... sometimes i wonder whats cracking in ur head , non logical
I miss ur old salty Brent oil comments . Quote ssleee
So another lose making quarter.
OCT to DEC
Average fuel price: USD 125/bbl

Fuel price NOW : 86.4$
WOW almost 50 percent less since sslee was announcing at its PEAK ... congrats ShareHOLDERS !

Posted by Balian de Ibelin > 2 weeks ago | Report Abuse

WTF

going shopping for sugar but seems everybody had the same idea, all at the same time...

NO SUGAR for sale anywhere?

Posted by abidinaa > 2 weeks ago | Report Abuse

Today is not a Short Peni$ day. Not a bad day for sucker bilis.

Posted by Trianon > 2 weeks ago | Report Abuse

Not for a Short Peni$ day, but for short-selling day ? 😆

Posted by The_JQuestion > 2 weeks ago | Report Abuse

any comments about strong ringgit i believe can reach 4.25 by this months end with what going in US. and low oil price very unexpected walking into a beautiful q4 and making it very EASY job for bursa to release cap A from pn17.
Also there are a few GEMS in cap A . one is SANTAN , fame for nasi lemak , even MAS wants a piece of it . They also provide ZUS Tea/coffee on board . unsure if any of u old folks ever tried it, it is really a thing. U can even get it on AIR . enjoy coffee in the air. not ur standard , with ICE. barista way

Posted by Michael Kwok > 2 weeks ago |

Post removed.Why?

Posted by abidinaa > 2 weeks ago | Report Abuse

No need to think la. 3Q24 and 4Q24 belongs to Capital A and AAX. MAS also kaput. Flight reduced until Dec24 due to catering and MRO issues. It's time to goreng. Just need the right entry after the shorties placed position. It's sucker bilis time.

Posted by Mabel > 2 weeks ago | Report Abuse

Managed to add more Capital A yesterday when it was a bargain when Mabel was on the air yesterday with Mabel Airlines Capital A.

Recap from all the good comments above..

Capital A Berhad, formerly known as AirAsia Group Berhad, has diversified its business structure into two main segments: aviation and non-aviation.

The non-aviation businesses are no brainer, risk free and recession proof. Airplanes in the air or grounded, they are still making tonnes of money and here is the best part, it’s pandemic proof.

Now let’s investigate the aviation business.

Tony has better logic than anyone else and ensure every flight hit the break-even load factor (Tony mentioned once is about 63% before covid) before the flight take off, hence 80% ~ 90% load factor is a profitable flight.
Hence Tony sells ticket first and collect money first, so cash come to pocket first. If the load factor of the flight not enough, give promotion.
Air ticket fee structure always has 3 parts: ticket price (RM1 to RM xxx, whatever profit AA want to make) , fuel charge (fix cost paid by client) and tax (fix cost).
First, Tony needs to get as much as people join the flight, so the fuel cost is shared among all the passengers, once fuel cost breakeven, whatever extra is profit.
2nd, AA sell ticket in advance, which flight load factor is low, pump the promotion, client buy ticket, money masuk pocket.
3rd, Maintenance dept is the main non-aviation profit driver, as long as AA aircraft in the sky, aircraft must obtain clearance before flying. This means more flight, more checkup = more profit.
4th, As long as it is Airbus brand, AA can repair regardless MAS, SIA, ANA, JAL etc can survive without AA, but of course AA has the priority on this maintenance service first.

Do you know that Stocks for travel companies like Booking.com and Airbnb have been performing well. For instance, Airbnb has shown strong financial results, reflecting a robust recovery in travel demand

Visitor Increase in SE Asia: Countries in Southeast Asia have indeed reported a significant increase in visitors. For example, Malaysia saw 20 million tourist arrivals in 2023, which is 77% of pre-pandemic levels. This increase in tourism typically indicates higher disposable income among travelers, as they are willing to spend on travel and leisure activities.

Brent down 69, Interest rate cut cumming soon, Summer/ Festive travels, Asian Currencies up against USD, Competitors bite the dust, Hike in Capacities. Both flights to and from East Coast are in full capacity with Tourists and travelers who loves to fly. Mabel is still Overweight on the Aviation sector. Yes, we expect CAPITALA and AirAsia X to have a profitable 2024..

Let's see if some nice Uncles and Aunties will match Mabel que today...

Meow Meow Meow

Posted by Mabel > 2 weeks ago | Report Abuse

human Which Sea company has anything near to capital a complete business and leisure travel solution?
Business veteran don't mean can handle crisis well and continue growth.
Example Mas cannot even manage their own catering.
SIA prevented going burst with help from government.
Amazon has many round of fund raising before making profit, successfully growing from book selling to retail to now conglomerate; naysayers said no way Amazon can challange giant like Walmart, best buy, did that sound familiar?
09/09/2024 9:11 AM

Well said human!

Meow Meow Meow