Good morning Income, Maybe this is me, like to teach that is why my subordinates call me sir and the boss like to joke that if he cannot convince the customers/visitors he will call me to explain to confuse the customers/visitors.
Good morning i3 lurker Sir and Sslee Sir, two of you are my enlightened mahaguru. When I am in doubt, I will always refer to both of you. Both of you must be bestowed the title Sir by King Charles of England. Keep up your good work.
Bursa moved the goal posts for AirAsia X with new requirements, sources say By Kang Siew Li | theedgemalaysia.com | 2023-10-25 16:04:53 "Under Bursa Malaysia’s guidelines, a company can apply to exit [the] PN17 status, following two consecutive quarters of net profit after completion of its financial regularisation scheme. However, AAX is now required to show four consecutive quarters of net profit due to concerns about the sustainability of its business,” an analyst pointed out.
Most likely I will write to theedge editor this weekend the headline "Bursa moved the goal posts for AirAsia X with new requirements" is uncalled for and wrong in fact as AAX never submit any PN17 regularisation plan to start with.
And theedge argument that it was Bursa fault causing the flight of high profile companies such as Grab Holdings Ltd to the US is wrong in fact and figure. Imagine if Grab was listed in Bursa how many billions investors money already lose in Grab?
Further more what theedge implied that the deal of the proposed disposal of Capital A’s aviation assets to AAX will proceed, despite recent events is good for AAX is totally wrong as AAX will immediately default payment on the obligation of net current liabilities transfer from capA .
As at 30/6/23: CapA Net current liabilities of RM (11,938,731,000) Shareholders' equity RM (8,390,820,000) Total equity RM (10,304,487,000)
khazanah will miss the golden opportunity to merge mas and airasia if they don't act now. They will have to wait for another covid pandamic outbreak to get this merger if they don't do it now.
“The issue is AAX doesn’t have a regularisation plan because it is making money. It is not going to submit a plan because there is no other plan other than to run its airline business,” said a source. Sslee with his bookie i3looker fail to see this part as well :)).... only pick the bad parts... i guess they love rancid smell so much
Know the debt restructure plan approved by shareholders at EGM. Did AAX carried out the plan fully?
Resolution passed at the EGM. SPECIAL RESOLUTION PROPOSED REDUCTION OF 99.9% OF THE ISSUED SHARE CAPITAL OF AAX PURSUANT TO SECTION 116 OF THE COMPANIES ACT, 2016 (“ACT”) (“PROPOSED SHARE CAPITAL REDUCTION”)
ORDINARY RESOLUTION 1 PROPOSED CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN AAX (“AAX SHARES”) INTO 1 AAX SHARE (“PROPOSED SHARE CONSOLIDATION”)
ORDINARY RESOLUTION 2 PROPOSED RENOUNCEABLE RIGHTS ISSUE OF NEW AAX SHARES (“RIGHTS SHARES”) TO RAISE GROSS PROCEEDS OF UP TO RM300.0 MILLION (“PROPOSED RIGHTS ISSUE”)
ORDINARY RESOLUTION 3 PROPOSED ISSUANCE AND ALLOTMENT OF NEW AAX SHARES TO RAISE GROSS PROCEEDS OF UP TO RM200.0 MILLION BY WAY OF SUBSCRIPTION BY PLACEES (AS DEFINED HEREIN) (“PROPOSED SHARE SUBSCRIPTION”)
And anything wrong Bursa/SC reject the AAX’s application for the Proposed Relief & PN17 Upliftment on question of unsettled RM 600 million refund?
KUALA LUMPUR (Nov 12): The Malaysian Aviation Commission (Mavcom) has urged AirAsia X Bhd to reimburse the tickets for customers whose flights were cancelled, in response to the airline’s action of treating its customers as creditors and repay them only 0.5 sen for every ringgit paid.
The Nov 12 statement came soon after all three groups of AAX creditors passed AAX’s restructuring plan, which will see AAX pay just 0.5% of some RM33.65 billion in liabilities, as well as terminate all of the airline’s existing contracts.
AAX’s liabilities categorised as tickets sold to passengers and travel agents amounted to just under RM600 million, according to details of the airline’s restructuring proposal. AAX’s proposal would see only under RM3 million paid back from the initial amount.
In a statement, Mavcom said it will not hesitate to exercise its powers under the Malaysian Aviation Commission Act 2015 (Act 711), if AAX fails to reimburse the affected travel consumers accordingly.
Pre Covid, 2019 their average quarterly revenue was ~1.x bil, and currently is half of it, hope that they can speed up the revenue recovery to the 2019 level .... ..... ... +ve QR in coming quarters and out of PN17 will be best to lure international investors into AXX.
Yemen’s Houthi militia claims to have launched an attack on Israel. The Israeli military said it had thwarted a batch of “aerial threats” but did not say who was behind them.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Sslee
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Posted by Sslee > 2023-10-27 07:41 | Report Abuse
Good morning Income,
Maybe this is me, like to teach that is why my subordinates call me sir and the boss like to joke that if he cannot convince the customers/visitors he will call me to explain to confuse the customers/visitors.