Posted by Good123 > 2020-07-31 09:27 | Report Abuse



The shares fell as much as 5.1% to S$3.35, the lowest intraday price since September 1998, before paring to close S$3.42, down 11 Singapore cents from a day earlier. The stock, which has declined by almost half this year, was among the worst performers Thursday on a Bloomberg gauge of carriers in the Asia-Pacific region.

SINGAPORE: Singapore Airlines Ltd’s shares fell to their lowest price in more than 21 years after the carrier posted its biggest quarterly loss ever as the coronavirus wiped out travel demand.

The shares fell as much as 5.1% to S$3.35, the lowest intraday price since September 1998, before paring to close S$3.42, down 11 Singapore cents from a day earlier.

The stock, which has declined by almost half this year, was among the worst performers Thursday on a Bloomberg gauge of carriers in the Asia-Pacific region.

Air traffic the world over has plunged because the pandemic led to tight border controls and a reluctance to travel.

The International Air Transport Association said Tuesday the airline industry is unlikely to recover fully before 2024.

The situation is particularly difficult for carriers like Singapore Airlines that have no domestic market to cushion the blow.

The net loss in the three months through June was S$1.12bil (US$815mil), compared with net income of S$111mil a year earlier.

Sales dropped 79% to S$851mil, and traffic measured by revenue passenger per kilometre sank 99.5%.

CGS-CIMB analyst Raymond Yap cut his recommendation on Singapore Airlines to a “hold” from “add” following the results.

He has a S$3.55 price target on the stock.

Singapore Airlines said on Wednesday its passenger capacity still may be less than half of pre-coronavirus levels by the end of its fiscal year next March.

The airline also said it is reviewing its network to determine the size and mix of its fleet over the longer term.

The review, which should be completed by the end of this quarter, could lead to a material impairment of about S$1bil on the carrying values of older generation aircraft, particularly Airbus SE A380s, Singapore Airlines said.

The carrier’s fuel hedging policy led to a S$535mil loss in the quarter, while there was also a S$127mil hit from the liquidation of NokScoot Airlines Co.

Singapore Airlines owned a 49% stake in the low-cost Thai carrier that collapsed in June.

Singapore Airlines was operating only to 24 cities by the end of June.

Its SilkAir unit ceased most operations except for flights to Chongqing, China, and it suspended flights to the Thai resort island of Koh Samui.

Low-cost unit Scoot operated a minimal network to cities such as Hong Kong and Perth, Australia.

Passenger capacity at the end of the second quarter is forecast to be about 7% of the level before Covid-19.

Out of a fleet of 213 passenger aircraft, only 32 are being deployed, the airline said. — Bloomberg

Posted by Good123 > 2020-07-31 09:52 | Report Abuse

aax, a private company, shareholders tanggung .

Posted by Good123 > 2020-07-31 10:17 | Report Abuse

The fundraising chase has become many founders’ singular focus — and the constant barrage of sexy headlines of yet another ‘successful multi-zillion round’ is only adding fuel to the fire. 

But I think those screaming founders are wrong. Finding funding isn’t the hardest thing. Finding customers is.

Posted by pineapple123 > 2020-07-31 12:54 | Report Abuse

CONCERNAUDIT REPORT -

MODIFIED OPINION / MATERIAL UNCERTAINTY RELATED TO GOING CONCERNAIRASIA X BERHAD ("AAX" or "THE COMPANY") - Issuance of Unmodified AuditOpinion with Emphasis of Matter on material uncertainty relating to goingconcern in respect of AAX's audited financial statements for the financial year ended 31 December 2019



BURSA MALAYSIA SECURITIES BERHAD'S("BURSA SECURITIES") PN17 RELIEF MEASURES RESULTING IN AAX TRIGERRING SUSPENDEDCRITERIA BUT NOT CLASSIFIED AS A PN17 LISTED ISSUER

nett asset -21c

bleed terribly.

Posted by Good123 > 2020-07-31 13:05 | Report Abuse

bought 2 tickets to go overseas in November, hope tak payah cancel

Posted by Miche87 > 2020-07-31 16:53 | Report Abuse

Cimb TP 0.00

Posted by Slc1 > 2020-07-31 17:03 | Report Abuse

Wakakaka....

Posted by freddiehero > 2020-07-31 17:07 | Report Abuse

how r u today?

Posted by freddiehero > 2020-07-31 17:09 | Report Abuse

aax and aa should be merge 2 become 1, then for call right issue

Posted by Dave92 > 2020-07-31 19:11 | Report Abuse

We want to see retail investors benefit from this IPO and this is the reason why we priced it at RM1.25. The success of AirAsia X is because of their support and we want to reward them,” he said.

This is what mr tony said before.

Fcuker.

Posted by abang_misai > 2020-07-31 19:12 | Report Abuse

Jatoh tergolek. Sampai nilai jadi sifar

Posted by Flyinghorse > 2020-07-31 20:41 | Report Abuse

AAX still got huge order of new planes. I wonder how they going to go about it. Cancel and pay compensation?

Posted by ivanlau > 2020-07-31 21:32 | Report Abuse

Monday will gap down to 0.05 ........

Posted by Good123 > 2020-08-01 08:15 | Report Abuse

total shares issued~4.1bil, right issue 3:1. at 10sen, bagi beberapa free Warrants. dapat r~rm1.2bil

Posted by Good123 > 2020-08-01 08:50 | Report Abuse

CGS-CIMB Research pointed out that AAX burned through RM140mil in cash in 1Q20 and only has RM219mil left as at March 31.

“Assuming 1Q20 salary costs of RM105mil are reduced to RM70mil per quarter for the rest of the year, AAX only has enough cash to pay salaries until the end of 2020, not even considering its obligations to its suppliers.

“AAX is not in a desperate attempt to grasp at all the straws it can find. We believe AAX has not been repaying its lessors, maintenance providers and suppliers since 4Q19.

“Lessors are unable to do anything about this effective default of the operating lease contracts as repossessing the planes may leave them looking in vain for replacement customers, ” it said in a note yesterday.

The research house gave AAX a brutal target price of zero sen, saying that even with the substantial support of the airline’s suppliers, it is unlikely to survive unless it gets a cash injection.

It is of the view that it will be unlikely for any bank to agree to provide liquidity unless there is shareholder support.

“But we have no evidence of either the individual shareholders of AAX or AirAsia willing to top up equity and the Malaysian government has so far not offered state backing, ” it said.

AAX is planning to make an application for a government loan of up to RM500mil under the Danajamin Prihatin Guarantee Scheme.

Another analyst, speaking to StarBizWeek on the condition of anonymity, questions if the government would even extend its assistance to AAX.

“Will AAX survive? The bankruptcy of AAX will benefit Malaysia Airlines, which has been in a bad shape for years, ” he says.

Meanwhile, CGS-CIMB also forecasts that AAX’s available seat kilometre capacity in FY20 will only be 22% of its FY19 baseline, with FY21 at 40% and FY22 at 50%.

It adds that even if borders reopen, the carrier may have to be a lot more selective on the routes it flies.

AAX admits it continues to face severe liquidity constraints and says its management and directors will continue to seek additional liquidity and work towards a material reduction of the company’s cost base to enable the airline to continue as a going concern in the post Covid-19 environment.

Time is seriously running out for AAX to raise funds.

As much as it is imperative for companies to have a solid game plan to pick up post-Covid-19, AAX’s bigger headache will be to ensure it manages to survive 2020.

AAX closed at seven sen on Thursday, not that much of a rebound from the counter’s all-time low of four sen during the stock market crash of March 19.

Posted by Good123 > 2020-08-01 08:54 | Report Abuse

right issue , cepat3 macam dulu. Rights Issue

AIRASIA X BERHAD
EX-date13 May 2015Entitlement date15 May 2015Entitlement time05:00 PMEntitlement subjectRights IssueEntitlement descriptionRenounceable rights issue of up to 1,779,071,540 new ordinary shares of RM0.15 each in AirAsia X Berhad ("AAX Shares") ("Rights Shares") together with up to 889,535,770 free detachable warrants ("Warrants"), on the basis of 3 Rights Shares for every 4 AAX Shares held as at 5.00 p.m. on 15 May 2015 ("Entitlement Date") and 1 Warrant for every 2 Rights Shares subscribed for by the entitled shareholders at an issue price of RM0.22 per Rights Share (the "Rights Issue with Warrants")Period of interest payment  to  Financial Year End31 Dec 2015Share transfer book

Posted by Good123 > 2020-08-01 09:00 | Report Abuse

other countries tak mau buka sempadan, APA boleh buat bagi aax

Posted by birkincollector > 2020-08-01 09:12 | Report Abuse

might has been priced in...i doubt anybody bought AAX last few weeks anticipating its good results considered how bad airasia the mother's results....anyway AAX now is more of a technical play....not fundamental

Posted by genghis > 2020-08-01 09:43 | Report Abuse

we buy share to make money but some here still want to buy air asia share because already fall in love long time with air asia and tony.what to do..

Posted by Jeffreyteck > 2020-08-01 10:23 | Report Abuse

1. Stock code itself is a bad fengshui indicator. Not easy to survive and become prosperous.
2. Highlighted liquidity issues but unfortunately incompetent management and bod seems to be not capable of doing anything.
3. Enjoying too much during good time leading to all negative operating results.
Unless big traders push it up, otherwise fundamentals=0. TF is getting old and is no longer energetic.

Posted by Good123 > 2020-08-01 11:59 | Report Abuse

AAX

LIST OF TOP 30 LARGEST SHAREHOLDERS
AS AT 30 JUNE 2020
Name of Shareholders
No. of
Shares Held
% of Issued
Share Capital
1. AirAsia Berhad 570,728,502 13.76
2. RHB Capital Nominees (Tempatan) Sdn Bhd
RHB Islamic Bank Berhad Pledged Securities Account for Tune Group Sdn Bhd
521,503,118 12.57
3. CIMSEC Nominees (Tempatan) Sdn Bhd
Pledged Securities Account for Tune Group Sdn Bhd (EDG

Posted by MaYun > 2020-08-01 12:02 | Report Abuse

I have been wondering how & why AAX was able to sustain & trade at 7~10 sen even after AA recent Q1 report, I believe a lot of retailers already exited AAX after noticing the dismal Q1 performance of AirAsia and those holding the stock now are major super league investors and I believe those folks are able to uphold the stock price way beyond the 0.0 TP. Let's see what happen come next Monday.

Posted by Good123 > 2020-08-01 12:03 | Report Abuse

AAX

LIST OF TOP 30 LARGEST SHAREHOLDERS
AS AT 30 JUNE 2020
Name of Shareholders
No. of
Shares Held
% of Issued
Share Capital
1. AirAsia Berhad 570,728,502 13.76
2. RHB Capital Nominees (Tempatan) Sdn Bhd
RHB Islamic Bank Berhad Pledged Securities Account for Tune Group Sdn Bhd
521,503,118 12.57
3. CIMSEC Nominees (Tempatan) Sdn Bhd
Pledged Securities Account for Tune Group Sdn Bhd (EDG

Posted by Louis7777 > 2020-08-01 12:35 | Report Abuse

Time to say bye bye with aax

Posted by mf > 2020-08-01 13:00 |

Post removed.Why?

Posted by Good123 > 2020-08-01 13:34 | Report Abuse

aax mirip Sia, tunggu negara-negara lain buka. SINGAPORE: Singapore Airlines (SIA) reported a first-quarter net loss of more than US$800 million (RM3.4 billion) on Wednesday, the latest carrier to take a massive hit as a result of the coronavirus pandemic.

 

Passenger traffic was reduced to almost zero in the three months to June, SIA said, leading to the Asian carrier's biggest-ever quarterly net loss of S$1.12 billion (US$816.58 million).

 

The numbers extended the flag-carrier's financial bloodletting after losing S$732 million in the 2019 fourth quarter ended March 31, leading to its first-ever annual loss.

 

"Demand for air travel evaporated as travel restrictions and border controls were imposed around the world to contain the spread of the virus," SIA said.

 

Earnings from cargo flights were not enough to offset the massive decline in passenger numbers, and group revenue plunged 79.3 per cent year-on-year, it said.

 

Shukor Yusof, an analyst with aviation consultancy Endau Analytics, described SIA's first-quarter earnings as "grotesque", reflecting the severity of coronavirus on the global industry.

 

"Unfortunately, there will be more losses in the coming quarters and which will require SIA to sadly lay-off staff," he told AFP.

 

It was also unlikely that the bulk of the airline's 19 Airbus A380s would return to service as there would be overcapacity, he said.

 

Wholly dependent on international routes, the airline was particularly hard-hit by the virus and cut passenger services by 96 per cent from April to June – grounding most of its fleet.

 

The International Air Transport Association (IATA) estimates that airlines operating in the Asia-Pacific region stand to lose a combined US$27.8 billion this year.

 

On Tuesday, IATA said global air traffic is unlikely to return to pre-coronavirus levels until at least 2024 – a year later than previously projected.

 

Among the reasons for this "more pessimistic" outlook is the slow virus containment in the United States and other developed economies, it said.

 

SIA said it has raised a total S$11 billion in fresh funds to help it weather the crisis, including S$8.8 billion from a rights issue backed by its majority shareholder, state investment fund Temasek Holdings.

 

 - AFP

Posted by Good123 > 2020-08-01 13:38 | Report Abuse

Sia Ada support from state owned temasek, aax? :)

Posted by Victor Yong > 2020-08-01 14:42 | Report Abuse

Research house expects zero share price for AirAsia X | The ...www.themalaysianinsight.com › ...
1 day ago - CGS-CIMB says the long-haul carrier will not survive without cash injection. ... has cut the Target Price (TP) for AirAsia X Berhad's (AAX) share to zero after the ... position prompted the cut of the target price from 7 sen to zero.

Posted by Tripaka > 2020-08-01 14:45 | Report Abuse

Cannot run already, dive!

Posted by Good123 > 2020-08-01 17:52 | Report Abuse

Japan acted like the virus had gone; now it’s spread everywhere

Lisa Du

Posted by Good123 > 2020-08-01 17:52 | Report Abuse

Japan acted like the virus had gone; now it’s spread everywhere

Lisa Du

Posted by BBVS > 2020-08-02 00:25 | Report Abuse

all these analysis versus questions like...will people stop flying , .is there any other flights in Malaysia flying....so..keep calm ......perhaps in 6 months time things will turn around. just my thought

Posted by BBVS > 2020-08-02 00:27 | Report Abuse

I will just put it in cold storage and wait perhaps a year ... people will need to travel ya.

Posted by abang_misai > 2020-08-02 00:53 | Report Abuse

gimmick on AAX

https://www.youtube.com/watch?v=Uqm2TTRmNpw

Posted by greedy44444 > 2020-08-02 01:38 | Report Abuse

Seems light on the tunnel soon with vaccine against covid-19 widely available.... opportunity to collect Airasia and AAX at their lowest. Once in a lifetime chance to collect cheap cheap airline stocks.

Posted by mf > 2020-08-02 02:38 |

Post removed.Why?

Posted by Wikipedia > 2020-08-02 05:56 | Report Abuse

Next week probably will fall to 4 cent due to the bad quarterly results. Expecting will fall lower than 4 cent since many international flight still not in operation and next quarter results even worst than last quarter.

Posted by Good123 > 2020-08-02 07:41 | Report Abuse

Commentary on prospects
33. Profit forecast
34. Corporate proposal
35. Material litigation
36. Proposed dividend
The Directors did not recommend any dividend for the quarter ended 31 March 2020.
As at 24th July 2020, there was no material litigation taken or threatened against the Company and its subsidiaries.
The disclosure requirement is not applicable as the Group did not publish any profit forecast.
There was no corporate proposal which is announced but not completed as at 24th July 2020, being the latest
practicable date of this report.
AirAsia X will not be able to restart scheduled operations until there is an easing of travel restrictions and a gradual
reopening of international borders, in recognition that air transport provides the connectivity that is essential for the
resumption of economic activities. Malaysia itself will remain under the ‘Recovery Movement Control Order’ until the
end of August, which effectively prohibits outbound and inbound international travel, while the Australian borders
remain closed and there are limitations still in place in China, Japan, India and Korea.
In order to maintain liquidity during these challenging times, we have sought payment deferrals and concessions from
our suppliers, lessors and lenders and reduced capital expenditure wherever possible. Salary reductions have been
implemented across all levels of the Company apart from the most junior staff, and headcount has been reduced by
10%, with further reductions planned, primarily in the flight operations related functions.
We have also restructured a major portion of our fuel hedges, and are still in process of restructuring the remaining
exposure. The actual volume of fuel consumed, as compared to the hedged volume, will be lower in the post-COVID-
19 environment and a restructuring of the fuel hedges will reduce expected hedging losses if fuel price remains below
the hedged price.
We have applied for bank loans to improve liquidity and have commenced bilateral negotiations with our aircraft
lessors and maintenance partners to significantly reduce the operating cost base of the Company. This process is
ongoing.
In the current circumstances, the Company continues to face severe liquidity constraints. The Management and the
Directors will continue to seek additional liquidity and work towards a material reduction of the Company’s cost base
to enable AirAsia X to continue as a going concern in the post Covid-19 environmen

Posted by Jeffreyteck > 2020-08-02 08:57 | Report Abuse

Trading 0.035_0.055.

Posted by Good123 > 2020-08-02 10:05 | Report Abuse

Group chief executive officer Nadda Buranasiri said its operating environment was aggravated by the Covid-19 outbreak in the beginning of this year.

“AAX Malaysia scaled down flight frequency to all markets in several phases beginning with China in February, ” he said in a statement.

In mitigating the adverse effects of Covid-19, it has had to undertake the temporary hibernation of fleet under AAX Group, as AAX Malaysia suspended all scheduled operations from March 28, while AAX Thailand’s scheduled operations have been suspended from March 16.

Posted by steven20 > 2020-08-02 12:37 | Report Abuse

https://www.chinapress.com.my/?p=2137597

Posted by flyingtomoon2020 > 2020-08-02 13:37 | Report Abuse

AirAsia X fights for survival https://www.thestar.com.my/business/business-news/2020/08/01/airasia-x-fights-for-survival#.XyZQvN3QRuk.whatsapp

Posted by CWYeong > 2020-08-02 13:50 | Report Abuse

God bless who those still holding aax share. Hell fire is coming to burn your hand. Can’t run already

Posted by chtan33 > 2020-08-02 13:57 | Report Abuse

TP = 0.00
later TP negative... jiat lat

Posted by Faith InMe > 2020-08-02 14:16 | Report Abuse

Now Everyone In Debt

Posted by abang_misai > 2020-08-02 14:41 | Report Abuse

CIMB gave brutal TP Rm0.00 for AAX. Think about it.

Posted by sampooler > 2020-08-02 16:39 | Report Abuse

hope it is excited tmr morning.. haha.. dont tell me nothing happen... just drop little only... i want to collect unlimited at 0.005

Posted by cheeseburger > 2020-08-02 17:05 | Report Abuse

Even we have vaccine ready tomorrow also the boarder of other countries will not reopen so soon.

Posted by Jeffreyteck > 2020-08-02 19:14 | Report Abuse

Good time also can't deliver, with vaccine, not much different. Entire management and bod aren't competent, simple answer.

Posted by cheeseburger > 2020-08-02 20:56 | Report Abuse

Agreed. So the idea of AAX long haul low cost flight is a failure. Looking at overall share price performance since listed you will see how sad it is.