next quarter results out soon - positive again :)

amazing. people are keen to see change...

agree. good to collect when drop :)

Support!

Monday, 29 April 2013 08:43
Beware guys! It looks like FBM KLCI may PLUNGE SOON
Written by  Sam Chee Kong, Malaysia Chronicle

I think its 40,000 units you can/entitle to buy at .23sen?

Monday, 29 April 2013 08:43
Beware guys! It looks like FBM KLCI may PLUNGE SOON
Written by  Sam Chee Kong, Malaysia Chronicle

what is happening to sendai??

big buying now!

Next quarter results will be out this month end?

I am confident EPF will be in for the rights issue. Agree, rebound potential

Most unfortunate for Lion Air to have their many mishaps in Indonesia,no doubt they do have a safety issue - but we should not generalise that and label Malindo as a "bad" airline. Air Asia has had its mishaps of crashes as well as well as failed precautionary saftey measures (in Australia and Malaysia ). We dont want any airline to have these problems as it is a life and death thing, not good.

Anyway good to buy at 23 sen, let's ride with MAS till rm1.50!!

MASEU has been the union all this while. Who is Nufam i wonder?

good dividend just paid out.

http://www.kinibiz.com/story/featured/9058/naim-looking-to-exit-dayang.html

good news!

today MAS EGM

Me too. Accumulating....

good read!

Change is good, just like the snake shedding it's old skin for new, so should we accept nd embrace change for good to come. Rome not built in a day, don't expect even if Opposition wins, that they can change or remove corruption , malpractice , cheats, cronyism etc..in a few months. Remember when Selangor fell, vital documents were carted away and lots more shredded. If we have stocks that are fundamentally good to hold ( makes good business sense) we should and not abandon and topple the cart. Foreign investors are on the sidelines to watch and will come in big time you watch.

MAS could survive rights issue despite low cash balance
Posted on February 9, 2013, Saturday


KUCHING: Malaysian Airline System Bhd (MAS) has the interest of the market as the company released a circular to shareholders to call for an extraordinary general meeting (EGM).

According to the research arm of Maybank Investment Bank Bhd (Maybank IB Research), the proposed tabled at the EGM were a par value reduction of RM0.90 per share to RM0.10 per share, a share premium reduction with the objective of resetting accumulated losses to zero and a rights issue to raise a maximum RM3.1 billion.

Khazanah Nasional had unconditionally committed to taking up its full entitlement commensurate with its 69.37 per cent shareholding and contributed up to RM2.15 billion.

The proposed rights issue was renounceable and might be offered to the other entitled shareholders. Should the take up rate for the offer by the minority shareholders be low, Khazanah Nasional might end up holding more of MAS than the maximum of 75 per cent to keep MAS’ listing status, in which case, the circular stated that the company would endeavor to rectify the situation within the timeframe allowed by the authorities, it explained.

“The proposed rights issue is extremely earnings per share (EPS) dilutive by 56 to 64 per cent. Our forecast net asset value (NA) in the first quarter 2013 (1Q13) is RM0.69 per share, implying the stock is now trading at book value.

“Based on scenarios for the rights issue in the circular, we estimate that the share price needs to be more or equal to RM0.69 per share in order for the rights issue to be non-dilutive on its NA value and be attractive for the investors,” noted Maybank IB Research on the matter.

The research house also stated that MAS needed a minimum cash infusion of RM1 billion to pay for pre-delivery deposits (PDP) relating to its aircraft acquisitions.

This amount could be easily funded by drawing down its existing sukuk facility hinting that MAS could survive without the rights issue despite a low cash balance (source:Borneo Post)

Read details in announcement

Not worth

MALAYSIAN AIRLINE SYSTEM BERHAD (“MAS” OR “COMPANY”)

(I) PROPOSED CAPITAL RESTRUCTURING COMPRISING:

 PROPOSED REDUCTION OF RM0.90 OF THE PAR VALUE OF EACH EXISTING ORDINARY SHARE OF RM1.00 EACH IN MAS PURSUANT TO SECTION 64 OF THE COMPANIES ACT 1965 (“ACT”) (“PROPOSED PAR VALUE REDUCTION”); AND

 PROPOSED REDUCTION OF THE SHARE PREMIUM ACCOUNT OF MAS PURSUANT TO SECTIONS 64 AND 60 OF THE ACT,

(“PROPOSED CAPITAL RESTRUCTURING”);

(II) PROPOSED RENOUNCEABLE RIGHTS ISSUE OF NEW ORDINARY SHARES OF RM0.10 EACH IN MAS TO RAISE GROSS PROCEEDS OF UP TO RM3,100 MILLION AFTER THE PROPOSED CAPITAL RESTRUCTURING; AND

(III) PROPOSED AMENDMENT TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF MAS TO FACILITATE THE IMPLEMENTATION OF THE PROPOSED PAR VALUE REDUCTION

Managed to collect at 680. EGM on 3 March.

Thank you mr. Kcchongnz. I learnt a lot reading your explanation.

Ya, go to Singapore :)

+75m

Contract of new award to Daya!

http://klse.i3investor.com/servlets/anpth/882623.jsp

Good advice, thank you.

Yes true. I invested at much higher ( rm1.05) and now collecting and averaging down. Will keep for 18 months at least to see the results and turn around performance.

Yes, stay positive! Q4 results out soon.

All these companies are just shell only without nothing solid inside la. Same when ipo for air asia x will also to pay debts more than anything else.

How about Kuching?

Will be flat for a few days.

Too optimistic I feel.

How about penny stocks!?

I am attending ! Loooking forward!

listen to Maybank! (*.*)

next Q results should be good. Year end passenger growth increased (holiday season)

Finally its out.

rights issue announced today

MAS - OTHERS MALAYSIAN AIRLINE SYSTEM BERHAD (“MAS” OR “COMPANY”) APPROVAL FOR EXTENSION OF TIME FOR ISSUE OF CIRCULAR TO SHAREHOLDERS IN RELATION TO THE FOLLOWING: (I) PROPOSED CAPITAL RESTRUCTURING COMPRISING:  PROPOSED REDUCTION OF RM0.90 OF THE PAR VALUE OF EACH EXISTING ORDINARY SHARE OF RM1.00 EACH IN MAS PURSUANT TO SECTION 64 OF THE COMPANIES ACT 1965 (“ACT”) (“PROPOSED PAR VALUE REDUCTION”); AND  PROPOSED REDUCTION OF THE SHARE PREMIUM ACCOUNT OF MAS PURSUANT TO SECTIONS 64 AND 60 OF THE ACT (“PROPOSED SHARE PREMIUM ACCOUNT REDUCTION”), (“PROPOSED CAPITAL RESTRUCTURING”); (II) PROPOSED RENOUNCEABLE RIGHTS ISSUE OF NEW ORDINARY SHARES OF RM0.10 EACH IN MAS (“SHARE(S)”) TO RAISE GROSS PROCEEDS OF UP TO RM3,100 MILLION AFTER THE PROPOSED CAPITAL RESTRUCTURING (“PROPOSED RIGHTS ISSUE”); AND (III) PROPOSED AMENDMENT TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF MAS (“M&A”) TO FACILITATE THE IMPLEMENTATION OF THE PROPOSED PAR VALUE REDUCTION (“PROPOSED AMENDMENT”) (ALL THE ABOVE COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)


Back

--------------------------------------------------------------------------------




Company Name

MALAYSIAN AIRLINE SYSTEM BERHAD



Stock Name

MAS



Date Announced

16 Jan 2013



Category

General Announcement



Reference No

MM-130116-64520





Type

Announcement



Subject

OTHERS



Description

MALAYSIAN AIRLINE SYSTEM BERHAD (“MAS” OR “COMPANY”)

APPROVAL FOR EXTENSION OF TIME FOR ISSUE OF CIRCULAR TO SHAREHOLDERS IN RELATION TO THE FOLLOWING:

(I) PROPOSED CAPITAL RESTRUCTURING COMPRISING:

 PROPOSED REDUCTION OF RM0.90 OF THE PAR VALUE OF EACH EXISTING ORDINARY SHARE OF RM1.00 EACH IN MAS PURSUANT TO SECTION 64 OF THE COMPANIES ACT 1965 (“ACT”) (“PROPOSED PAR VALUE REDUCTION”); AND

 PROPOSED REDUCTION OF THE SHARE PREMIUM ACCOUNT OF MAS PURSUANT TO SECTIONS 64 AND 60 OF THE ACT (“PROPOSED SHARE PREMIUM ACCOUNT REDUCTION”),

(“PROPOSED CAPITAL RESTRUCTURING”);

(II) PROPOSED RENOUNCEABLE RIGHTS ISSUE OF NEW ORDINARY SHARES OF RM0.10 EACH IN MAS (“SHARE(S)”) TO RAISE GROSS PROCEEDS OF UP TO RM3,100 MILLION AFTER THE PROPOSED CAPITAL RESTRUCTURING (“PROPOSED RIGHTS ISSUE”); AND

(III) PROPOSED AMENDMENT TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF MAS (“M&A”) TO FACILITATE THE IMPLEMENTATION OF THE PROPOSED PAR VALUE REDUCTION (“PROPOSED AMENDMENT”)

(ALL THE ABOVE COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)








(Unless otherwise stated, the defined terms used in this announcement shall carry the same meaning as defined in the announcement on 27 November 2012 in relation to the Proposals)







Reference is made to the announcements dated 27 November 2012, 5 December 2012, 21 December 2012 and 7 January 2013 in relation to the above Proposals.







On behalf of MAS, we are pleased to announce that Bursa Malaysia Securities Berhad had, via its letter dated 15 January 2013, approved the application for an extension of time to 14 February 2013 for MAS to issue the circular in relation to the Proposals to its shareholders.





This announcement is dated 16 January 2013.

Can collect some more.

long Q....(^.^)

confident, willing to wait for turnaround Q1 2014. National airline.

for long term

collecting. Q-ing now