Posted by harvest6138 > 2023-07-20 17:17 | Report Abuse

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3370254

Finally , they submitted the application to Bursa for the upliftment of PN17 , subject to the approval from Bursa now ..

Posted by joyvest > 2023-07-20 19:02 | Report Abuse

As expected, request for Time extention again to 28th oct 2023. Hence ,share price is expected to be stagnant if not declining.....many were caught to celebrate prematurely. Those who got stuck have no choice but to wait gruesomely for another 3 months for the final outcome ie uplifting of PN 17.

Posted by harvest6138 > 2023-07-20 19:54 | Report Abuse

If I read correctly, they actually submitted two letters to Bursa , first one is to apply to lift the pn17 status , if in the event of reject by Bursa , then the second letter is to apply the extension.. so , if Bursa approve the application then the second letter shall be void ..

Posted by joyvest > 2023-07-20 20:10 | Report Abuse

Yer,AAX applied for uplifting based on its recent improved financial performance .Do you really believe that Bursa would set a precedent for it? I doubt it ....

Posted by harvest6138 > 2023-07-20 20:13 | Report Abuse

Let’s see , shouldn’t take long to know the result

Posted by The_JQuestion > 2023-07-20 20:38 | Report Abuse

pang !! u r right congrats all holders !! this is the moment we are waiting for ... SSlee goodbye forever !

Posted by joyvest > 2023-07-20 21:09 | Report Abuse

It is likely that Bursa would concede to AAX' s application for upliftment. I believe that Tony must have discussed this with Bursa to agree to it well in advance before submitting.

Posted by moneycashrich > 2023-07-20 21:33 | Report Abuse

congratulations

Posted by ks5S > 2023-07-20 21:57 | Report Abuse

after released from pn17, aax start with a new life and new beginning. Those past,, will be forgotten

Posted by ks5S > 2023-07-20 21:58 | Report Abuse

aax will look for future growth which is very much promising

Posted by StartOfTheBull > 2023-07-20 22:00 | Report Abuse

According to Paragraph 8.04(3)(a) RP is required for uplifting of PN17 status.
In this case, it is believed that sufficient details and explainations are included in the application for a relief from having to submit and implement a RP.

Posted by FAInvestor > 2023-07-21 00:22 | Report Abuse

Buy on rumors and sell on news ? Will AAX close red tomorrow ?

Posted by ks5S > 2023-07-21 06:43 | Report Abuse

AirAsia X Bhd (AAX) has submitted an application to Bursa Malaysia to be uplifted from its Practice Note 17 (PN17) status, on recent improvements in the group and its subsidiaries' financial performance. Hence, it is also seeking a relief from having to submit and implement a plan to regularise its condition. This confirmed a report in The Edge weekly (July 17-21), quoting sources, that AAX was planning to lift itself from the PN17 classification in a matter of days, as it no longer triggered the PN17 criteria under the Main Market listing requirement.

Posted by i3lurker > 2023-07-21 06:44 | Report Abuse

SELL on news or ............. DIE !!!

Posted by joyvest > 2023-07-21 07:04 | Report Abuse

It is believed that AAX has assured with confidence that AAX will be able to make profitability of at least rm300m per qtr x4 = 1.2b per year. It is expected to take less than 10 years to pay off all the debts.

Posted by Sslee > 2023-07-21 07:15 | Report Abuse

So now AAX CEO go solo and no more bollywood dance duo with Stony?

AAX CEO Benyamin Ismail said: “As we returned to black on the back of a robust recovery across all key metrics, we are progressing well on our regularisation strategy to uplift us from the PN17 status.

“The strategy being formulated is expected to entail a proposed acquisition of Capital A Berhad’s aviation arm, AirAsia Berhad (AAB) and AirAsia Aviation Group Limited (AAAGL), comprising AAAGL’s respective shareholdings in AirAsia Indonesia, AirAsia Philippines and AirAsia Thailand. Following the acquisition, AAB, AAAGL and AAX will form a consolidated aviation group, subject to the approval of our stakeholders and relevant regulatory authorities.

“While all airlines under the consortium will remain separate with regard to the operations, the acquisition of the short-haul airlines under one consolidated group will create synergies with AAX’s mid-range operations. Leveraging the group’s wide network of over 130 destinations will provide us the opportunities to expedite our recovery after the completion of the regularisation plan.

“The strategy is not only expected to strengthen our balance sheet and cash flows but create value for the Company as well as our shareholders in the longer term.

“We will make the necessary announcement in relation to further material developments accordingly.”

Subject to receiving the requisite approvals necessary for the proposed regularisation plan, including from AAX board of directors, Bursa Malaysia Securities, AAX shareholders and other relevant authorities, AAX expects to complete the implementation of the regularisation plan by July 2023.

Posted by TheCrown > 2023-07-21 07:20 | Report Abuse

No more trust Tony Pariah .. 😊

Posted by Sslee > 2023-07-21 07:41 | Report Abuse

Since AAX already decided to go seperate way, the only option for CapitalA is delist from Bursa so that Stony can have a free hand to restructure CaplitalA and make a come back when the Balance Sheet sudah canteeeeeeeeeeeeeeek.

Posted by Johnchew5 > 2023-07-21 08:26 | Report Abuse

Posted by TheCrown > 1 hour ago | Report Abuse

No more trust Tony Pariah .. 😊

Stock: [AAX]: AIRASIA X BERHAD
1 month ago | Report Abuse
Long term target 3.48

Posted by Johnchew5 > 2023-07-21 08:28 |

Post removed.Why?

Posted by harvest6138 > 2023-07-21 08:39 | Report Abuse

The reason why AAX fell into PN17 was mainly due to shareholder's equity less than 40Millions , and based on Edge report , they should have at least 90millions up to end March , if they apply the upliftment now based on their financial performance , it means the coming QR should be at least sustain the shareholder equity to avoid another PN17 again , not sure if we can use this to assume the coming QR should be good as well ..

Posted by KingKKK > 2023-07-21 08:52 | Report Abuse

Expect 2 catalysts to AAX:

1. Upliftment of PN17 - in 7 days from now (since the due date is 28-July)

2. Strong 2Q earnings - very likely to be profitable and increase equity shareholder amount in the balance sheet more. Means it is a solid uplift from PN17 won't go back again.

Posted by AlphaInvestor > 2023-07-21 08:55 | Report Abuse

AirAsia X submits application to exit PN17, confirms The Edge report

https://theedgemalaysia.com/node/675507

Posted by joyvest > 2023-07-21 09:34 | Report Abuse

Previously , AAX's Shareholders’ fund less than 25% of the total issued and paid up capital has triggered PN17. Following their recent huge financial improvements and more in the coming months,Its shareholders fund is believed to have exceeded well above 25 % mark as a result of which PN 17 should be automatically lifted any moment from now ....

Posted by TheCrown > 2023-07-21 09:39 | Report Abuse

Johnchew5, I invested in AAX since 2013, in and out. And with that, I still hope it will make a comeback. But after seeing it's getting worst, people will fed up with Pariah's way of manipulate this counter..

Posted by joyvest > 2023-07-21 09:43 | Report Abuse

Now then AAX 's financial performance has greatly improved and Capital A will benefit from it . With the huge positive cashflow, AAX will be able to pay or advance Cap A to pay off its debts...

Posted by Johnchew5 > 2023-07-21 09:46 | Report Abuse

TheCrown
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Posted by Johnchew5 > 2023-07-21 09:51 | Report Abuse

Posted by Johnchew5 > 3 days ago | Report Abuse

国际财经
国泰航空上半年盈利料达26亿

2023年07月14日

https://www.enanyang.my/node/552333

Posted by KingKKK > 2023-07-21 09:52 | Report Abuse

United Airlines Q2 Earnings Beat Expectations, Raises Guidance

https://thecurrencyanalytics.com/stockmarket/united-airlines-q2-earnings-beat-expectations-raises-guidance-60031.php

Posted by TheCrown > 2023-07-21 10:15 | Report Abuse

Johnchew5, why did the AAX price drop back? I don't need any followers.. to tell that it doesn't determine that high followers are good at investing..

Posted by TheCrown > 2023-07-21 10:18 | Report Abuse

Johnchew5
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HAHAHAH 2 followers only with 5000 plus threads? malunyeeee hahahaha

Posted by rr88 > 2023-07-21 10:22 | Report Abuse

Still sleepwalking ka?

Price moved up 0.70 => 1.80 when market built in injection of capitala airline business into aax.

That idea was conceived during bad, desperate time. Now businesses hv improved, that idea seemed too emotional n no longer relevant.

They submitted restructuring plan to authority yesterday. As reported by the edge, their source said no more injection of capitala airline business into aax.

You will see soon aax will hit LD on its way back to below 1.00. Capitala will then move up.

Posted by joyvest > 2023-07-21 10:30 | Report Abuse

No need for AAX to submit restructuring plan since financial performance has been improved to great extent and more improvements are expected to come in coming months. With that, PN 17 criterion are no longer valid and hence PN 17 status should be lifted accordingly.

Posted by Johnchew5 > 2023-07-21 10:31 |

Post removed.Why?

Posted by RobinHootnShoot > 2023-07-21 10:33 | Report Abuse

AAX definitely will be out of PN17 this year end

https://www.nst.com.my/business/2023/07/933219/air-asia-x-opens-24-cent-higher-application-exit-pn17-status

Posted by joyvest > 2023-07-21 10:34 | Report Abuse

Unless the financial performance is deteriorating from QR to QR , then restructuring plan is requisite. So far, there has been no sign of financial performance deteriorating but improving to great extent from QR to QR . The future prospect of AAX is bright as they are on the right track at the right time now and there is no cause of concern.

Posted by TheCrown > 2023-07-21 11:01 | Report Abuse

kesian Ahpek Little John.. Insas, CapitalA, and keep promoting the stocks that not improve 😂🤣

Posted by joyvest > 2023-07-21 11:12 | Report Abuse

WTH is Ahpek little john??

Posted by investormalaysia > 2023-07-21 11:16 | Report Abuse

Good news. Ady submit to exit pn17 today

Posted by Johnchew5 > 2023-07-21 11:29 |

Post removed.Why?

Posted by Johnchew5 > 2023-07-21 11:32 |

Post removed.Why?

Posted by TheCrown > 2023-07-21 11:33 | Report Abuse

Hahahaha Johnnnnn johnnn.. littele john.. small D

Posted by FAInvestor > 2023-07-21 12:52 | Report Abuse

AAX price now already factored in. So it may do a reversal of "buy on rumors and sell on news" kinda thing.

Posted by Sslee > 2023-07-21 13:14 | Report Abuse

AirAsia X applies to exit PN17 status
SEPANG, 21 July 2023 - AirAsia X Berhad (“AAX”) is seeking a relief from Bursa Malaysia Securities Berhad (“Bursa Securities”) to exempt the airline from the requirement to submit a Proposed Regularisation Plan as required under Paragraph 8.04(3)(A) of the Main Market Listing Requirements (“MMLR”) of Bursa Securities (“Proposed Relief”). Subsequently the airline is also seeking the upliftment of AAX from being classified as a Practice Note 17 (“PN17”) Affected Listed Issuer (“PN17 Upliftment”).

From the onset of the company triggering suspended criteria under PN17 from 30 July 2020, AAX has undertaken a broad range of measures and corporate exercises to improve its financial position. The first of these being a set of restructuring exercises which incorporated a debt restructuring scheme, share capital reduction of 99.9% of the issued share capital of AAX, share consolidation and a revision of its business plan.

The revised business plan incorporated key elements including a leaner and more viable cost structure with primary focus on medium-haul flight operations, a rationalised network plan which saw the termination of unprofitable routes and recalibration of focus on routes with proven loads and yield performance in AAX’s core markets.

AAX has also during this time deferred all investments in new and immature routes, apart from restructuring all of its contracts and arrangements in relation to its fleet and overall operations to better align to its future size and requirements. In its right-sizing strategy, AAX had also undertaken plans for manpower consolidation and optimisation, ensuring that its workforce is strictly aligned with its operational requirements.

With the continued efforts set forth above, AAX has managed to turn around its financial position from 12 quarters of losses since the quarter ended 30 June 2019 to registering three consecutive quarters of net profit for the quarters ended 30 September 2022, 31 December 2022 and 31 March 2023. As at 31 March 2023, AAX has also recorded a positive shareholders’ equity.

Based on its improved operating and financial performances, AAX no longer triggers any of the criterias prescribed under Paragraph 2.1 of PN17, particularly as AAX’s shareholders’ equity has turned positive; and AAX’s external auditors have expressed a clean opinion of AAX’s financial position.

AAX CEO Benyamin Ismail said: “The restructuring exercises that we have undertaken in the past couple of years allowed us to transform and reset AAX towards a more sound and viable financial position. Since our emergence from hibernation back in April 2022, we are pleased to share that AAX’s operational and financial performances have been improving in line with the increasing demand that we observe across all our core markets. Improved demand for travel has been evident in the last three quarters when we recorded passenger load factors of 73%, 79% and 80% for the periods ended 30 September 2022, 31 December 2022 and 31 March 2023 respectively.

“We have managed to maximise the recovery of all of our revenue segments even though some of our fleet remain on ground. As of 31 March 2023, AAX’s cash position is healthy at RM192.37 million, without any outstanding debts, and has sufficient working capital for 12 months. In addition, with the recent completion of placement of an aggregate of 32,258,066 new AAX Shares to AHAM Asset Management Berhad, AIIMAN Asset Management Sdn Bhd and Lavin Group Sdn Bhd at an issue price of RM1.55 per AAX Share, we have raised net proceeds of approximately RM50.00 million, strengthening AAX’s equity position and ultimately granting AAX the platform to gradually re-establish a firm equity base. This is a strong testament that confidence in AAX is growing and future prospects are strong.”

Posted by harvest6138 > 2023-07-21 13:49 | Report Abuse

The fundamental of AAX is very different than before pandemic time , previously , they carry very high debt , if you look at the previous QR like 2019 Q4 , the depreciation cost is 241m and Finance cost (mainly interest paid to loan) was 100m , however , the last QR , the depreciation cost is 35m and Finance cost is 18m , the difference is 288m , that means these two items alone already have huge saving .. on top of that , the oil price is lower in these two quarter , and the ticket fare is still at high side compare with 3 years ago , all these factors is really in favor of AAX now .. hope the new QR can validate what I observed , and EPS can be easily more than 20sens .. how many company in Bursa have EPS more than 20 sens ??

Posted by xuxu > 2023-07-21 14:07 | Report Abuse

news says may uplift from PN17 only up 3 cts ?

Posted by joyvest > 2023-07-21 16:04 | Report Abuse

Judging from the latest developments , AAX is expected to be lifted out of PN 17 next week.

Posted by yourfrenemy > 2023-07-21 16:25 | Report Abuse

next week? time to buy more AAX

Posted by joyvest > 2023-07-21 16:35 | Report Abuse

There is no reason why Bursa will reject the relief from PN 17 since AAX has been improving greatly in terms of financial performance in the interim and in months to come. Time extension is not necessary and out of the question here

Posted by Canlah > 2023-07-21 17:10 | Report Abuse

how long it take for Bursa to process PN17 application? Anybody