Cheers and thanks for the head up geary!

Meow Meow Meow

geary Mabel(Meow)!?
#geary CAPITALA Monthly Momentum!?
Hold: 50/200SMA!?
S1: 0.875.(Matched)
Enough in my Portfolio!?
Pivot: 0.90.
11/09/2023 3:56 PM

Mabel Pivot is 0.895..

Plan to collect more if drop some more...

Would be nice to have 88 or 83 as a pivot number

Currently Mabel AA trading P&L is a double digit gain..Sooooo apy...

Meow

https://www.executivetraveller.com/news/singapore-airlines-first-class-business-class-menu-2023

Thanks to Daddy, my SQ Food flying on Business Class was San Francisco bound in 1994. SQ presented a remarkable quality. It’s good to see them always looking for improvement.

MY AK Santan Food on CapitalA Air Asia needs no further introduction. You can find the best of Asia already on the menu.

No one will go hungry on Mabel’s Singapore Airlines and CapitalA Air Asia.

Captain Mabel Meow

#geary CAPITALA Monthly Momentum!?
Hold: 50/200SMA!?
S1: 0.875.
Pivot: 0.90.
R1: 0.99
R2: 1.08.
R3: 1.28
R4: 1.48.
Oct 7; Within 50SMA: Target: 1.80!? #90% UP!?
Disclaimer: Trade at your own Risk!?
09/09/2023 7:17 PM

Total Mabel wait at 88 sen..

Let see if if any Uncles and Aunties want to sell or not..

Meow

Hong Kong superstar Chow Yun-fat has been named Asian Filmmaker of the Year at the Busan International Film Festival (BIFF), becoming the second actor from the city to earn international acclaim in a week.

Congrats Handsome Sslee!

https://www.thestar.com.my/aseanplus/aseanplus-news/2023/09/09/hong-kong-superstar-chow-yun-fat-named-asian-filmmaker-of-the-year-at-busan-international-film-festival

Meow

6. BigPay, an ewallet app, is available across Malaysia, Thailand, and Singapore. The company is seeking approval in other parts of ASEAN. The CEO aims to have at least 30% of the revenue in airasia Superapp transacted on BigPay in the future, which is a bold target.

To me, the positioning of BigPay can be clearer to the public. It acts like an e-wallet, a budgeting tool, and a debit card. Users can apparently transfer money to overseas bank accounts and pay bills in the three countries mentioned (obviously I am not a user). Migratory workers look like the target users as cross-border remittance grows. BigPay has disbursed RM2.8 million to its 1.3 million user base so far as part of its nascent lending business.

BigPay raised US$100 million from SK Group in 2021 and aims to achieve profitability by 2024. Its payment business made up of 69% of its revenue in 2022. It will rely on QR payments to reduce its dependence on Visa and Mastercard payment networks.

7. Teleport sells AirAsia’s and third-party passenger flight cargo belly space to freight forwarders like DHL and Schenker. It has grown its market share to 10.3% in the ASEAN region and targets to overtake Singapore Airlines Cargo by the end of 2023. Teleport is also an e-commerce service delivery provider and a courier for customers like Zalora, Shopee, Lazada. One aircraft freighter was brought in in June 2023 for the first time with two more on the way.

Teleport’s revenue declined from RM551.2 million in 2021 to RM469.1 million in 2022, primarily attributed to the increased availability of belly space as air travel rebounded, leading to higher supply in the market. Losses before interest, taxes, depreciation & amortisation narrowed from RM69.1 million to RM26.9 million over the same period as it used low-margin passenger planes to carry cargo in 2021. In 2022, it shifted back to using the belly space of AirAsia aircraft to carry cargo.

8. Aviation Services comprises several entities, including the inflight catering company Santan; the ground handling services provider, Ground Team Red; the maintenance, repair, and overhaul company, Asia Digital Engineering (ADE); as well as AirAsia Consulting, among others. These companies provide services to AirAsia and the CEO wishes to expand their offerings to other airlines.

In an effort to sustain the company during the pandemic when flights were halted, the management explored various business verticals, such as launching Santan outlets in the Klang Valley. Some of these Santan outlets were subsequently shuttered. Currently, the company is pivoting towards smaller-format kiosks and supplying its food products to convenience stores and inflight catering services instead.

The cargo volume handled by Ground Team Red is anticipated to grow 30% year-on-year in 2023. To capture the rising cargo demand, three cargo terminals will be introduced by Q1 2024 at Sandakan, Kota Kinabalu, and Tawau in Sabah. Ground Team Red is expected to be profitable by the end of 2023.

Additionally, the company’s dual-listing in New York does not appear to be progressing as of now.

9. Capital A remains financially distressed and may only exit PN17 status by 2024. It postponed the submission of its regularisation plan to October 2023 to incorporate its latest FY2022 figures. At the same time, it plans to list in New York look shelved for now. Despite these challenges, the CEO has reaffirmed his commitment to remain at the helm of Capital A.

Impairment losses from AirAsia X and Thai AirAsia X (both are related parties) totalling RM313.2 million and RM227.7 million respectively were recognised in 2020 and 2021. The amounts were pertaining to the former’s debt restructuring exercise and the latter’s proposed rehabilitation plan.

10. Capital A aims to raise RM1 billion through debt and equity financing. Teleport raised US$50 million in 2022, while the aviation group and Asia Digital Engineering secured US$30 million and US$100 million respectively in 2023. Capital A is in talks with third parties to secure funding totalling US$40 million for airasia Superapp and another US$150 million for the aviation group.

In January 2022, AirAsia Group Berhad rebranded itself as Capital A Berhad to better represent its expanding portfolio of businesses, extending beyond its core budget airline. Besides the AirAsia airline, Capital A’s businesses include ventures in digital, logistics, and other aviation services. Its ‘airasia Superapp’ now acts like an online travel agency that allows consumers to book air tickets, accommodation, as well as hail a cab. Its fintech and e-wallet platform, BigPay, and logistics business, Teleport, also look promising.

Here are 10 things I learned from the 2023 Capital A annual general meeting.

1. Revenue surged from a low base of RM1.7 billion in 2021 to RM6.4 billion in 2022. Net loss narrowed from RM3.o billion to RM2.6 billion over the same period despite the absence of government support as all core business segments recovered except Teleport. COVID-19 movement restrictions have gradually eased, and border closures have slowly lifted in the past two years. Air travel demand remains strong as forward bookings have surpassed pre-pandemic levels. Approximately 70% of the company’s 205 leased planes are currently fully operational, and the expectation is that all of them will be in full operation by the third quarter of 2023. Retrenched staff have also been recruited.

2. Capital A was restructured into four main businesses, namely aviation, digital, logistics, and aviation services. The aviation segment consists of its aviation businesses in Southeast Asia. AirAsia Japan was shut down in 2020, while the company’s stake in AirAsia India was recently sold. It targets to launch AirAsia Cambodia by the end of 2023 and will continue to focus its business primarily in Southeast Asia particularly Thailand and Malaysia.

As consumers, we may have observed a significant increase in airfares after the pandemic. According to CEO Tan Sri Anthony Francis Fernandes, these airfare hikes are ‘rational’ and are maintained at levels that are beneficial for both the company and its shareholders. The management doesn’t anticipate that the emergence of a new competitor, MYAirline, to have a substantial impact on the Malaysian market, given that other well-established airlines also exercise fare discipline. Additionally, the CEO anticipates that ancillary services such as Wi-Fi will play a more significant role in boosting the company’s bottom line.

3. Under its digital segment, the company repositioned its airasia Superapp as a low-cost online travel agency (OTA) by focusing on travel-related businesses including flight, hotel, and ride-hailing. The airasia Superappno longer offers food delivery after three years since its launch as Anthony Francis Fernandes thinks they ‘are never going to make money on food delivery’. As part of its collaboration with foodpanda, consumers who wish to order food delivery or hail a cab will be redirected to each other’s app instead. The benefit of this partnership is yet to be seen. Additionally, the airasia Superapp now enables consumers to make discounted reservations for in-house dining. The CEO is optimistic about the prospects of its digital ventures, citing the company’s strategy of capitalizing on its extensive database to engage in cross-selling to its 12.9 million average monthly active users (as of Q1 2023), which helps reduce advertising expenses.

4. The company’s ride failing app — Airasia Ride — is currently available in Malaysia, Thailand, and Indonesia while the company is applying for relevant licences in Singapore and the Philippines. The number of completed rides per month improved from 161,000 in the first 17 months of operations to 410,000 currently. Market conditions are challenging — it’s noteworthy that Grab, the dominant player in the ride-hailing sector, continued to incur losses in 2022.

5. One shareholder pointed out that airasia Superapp was not as user-friendly as Grab. In fairness to Capital A, it’s worth noting that their app was developed during the pandemic when the company faced financial constraints. As a user myself, I have observed some noticeable improvements in the airasia Superapp over the past few years. Additionally, it’s worth mentioning that lately, airasia Superapp’s fares have generally been more competitive and lower than those offered by Grab.

geary CAPITALA Daily Momentum!?
Hold: 50/200SMA!?
S1: 0.86.
Pivot: 0.90.
R1: 0.99
R2: 1.08.
R3: 1.28
R4: 1.48.
Disclaimer: Trade at your own Risk!?
08/09/2023 6:53 PM

Today, Mabel waiting at 88...no Uncles and Aunties want to sell their AA to Mabel...

Will wait patiently...

Meow

Sslee Mabel,
Fortunately, AA after all the cash payments to repair cost, interest expenses, and overhead, the cash flow from business operation is sufficient for LEASE payment of 1b and not to forget RM 2 billion advance sales ticket (which will turn into revenue within 12 months).

Did Mabel understand that CapitalA already pocket in RM 2.024 billion advance sales and CapitalA Deposits, bank and cash balances only leave with : RM 735,003,000, so where did the RM 1.289 billion gone to?

These are questions I put forward to TA analyst.

Question 5: What do you mean/where do you get the information operating cash flow inflow was stable at RM484.9mn, boosting the group’s total cash to RM735mn as at June-23?
As at 31/12/2022
Deposits, bank and cash balances: RM 469,985,000
Sales in advance: RM 1,428,011,000
As at 31/3/2023
Deposits, bank and cash balances: RM 589,594,000
Sales in advance: RM 1,546,450,000
As at 30/6/2023
Deposits, bank and cash balances: RM 735,003,000
Sales in advance: RM 2,024,943,000

Question 6: As at 30/6/2023: Deposits, bank and cash balances: RM 735,003,000. Sales in advance: RM 2,024,943,000. May I ask, using the advance sales/future revenue for current working capital how will that affect the future cash flow?
08/09/2023 4:10 PM

Noted and thanks Handsome Sslee...

Mabel is also looking forward for TA reply too...

To Our Success !

Meow

Meow Meow Meow

SuperPanda no need to put so much efforts on the FA, let accounting people do it, we are here to make money from the price movement

when people buy we buy and when people sell we sell, once buying signal coming back, we can buy again
07/09/2023 7:13 PM

Indeed SuperPanda..

This is one of the reason why Mabel loves AA and Sapnrg..

https://www.thestar.com.my/business/business-news/2023/09/07/airasia-clinches-eighth-consecutive-039asia039s-leading-low-cost-airline039

Now back to the two Mabel PN17; Both Lady Sapura and AA has about 10 billion long Term Debt. The only difference is AA has Nothing to Sell as all the planes are under Lease while Lady Sapura has 11 jacks up Rigs worth about 5 RM Bil market rate.

Fortunately, AA after all the cash payments to repair cost, interest expenses, and overhead, the cash flow from business operation is sufficient for LEASE payment of 1b and not to forget RM 2 billion advance sales ticket (which will turn into revenue within 12 months).

For eighth consecutive year, the airline took home the title, “Asia’s Leading Low-Cost Airline”. It also won the “Asia’s Leading Low-Cost Airline Cabin Crew” award for the seventh year in a row.

AirAsia came out on top in these categories in a competition involving over 10 other airlines, earning the highest votes from industry players, consumers, and travel professionals from across the region with another winning of the World’s Best Low-Cost Airline by Skytrax for 14 consecutive years recently. AirAsia Aviation Group Ltd group chief executive officer Bo Lingam said the group aims to reinstate 200 Jet Fighters back into operations by the end of the year.

While my Lady is expected to deliver a Prince this month, AA has already posted RM 966 million net profit! This is another Golden Goose that lays Golden Eggs. This week Mabel has re-entered AA at 91 Sen after locking profits between RM 1.08 and RM 1.10...collection continue. Both Lady Sapura and AA has given Mabel double digit Gain since she starts taking interest to turnaround these two PN17 Companies…

To Our Success !

Captain Mabel Meow

#SinGor SAP is NOT AirAsia. Tony has NO plan, just say "good Biz" so be Cool
Both SAP and AA has about 10 Billion long Term Debt. The only difference is AA has Nothing to Sell ( all plane under Lease ) Atleast SAP got 11 jack up Rigs worth about 5 Bil market rate
07/09/2023 6:41 PM

SinGor is always smart when cum to figures..

https://www.thestar.com.my/business/business-news/2023/09/07/airasia-clinches-eighth-consecutive-039asia039s-leading-low-cost-airline039

Now back to the two Mabel PN17; Both Lady Sapura and AA has about 10 billion long Term Debt. The only difference is AA has Nothing to Sell as all the planes are under Lease while Lady Sapura has 11 jacks up Rigs worth about 5 RM Bil market rate.

Fortunately, AA after all the cash payments to repair cost, interest expenses, and overhead, the cash flow from business operation is sufficient for LEASE payment of 1b and not to forget RM 2 billion advance sales ticket (which will turn into revenue within 12 months).

For eighth consecutive year, the airline took home the title, “Asia’s Leading Low-Cost Airline”. It also won the “Asia’s Leading Low-Cost Airline Cabin Crew” award for the seventh year in a row.

AirAsia came out on top in these categories in a competition involving over 10 other airlines, earning the highest votes from industry players, consumers, and travel professionals from across the region with another winning of the World’s Best Low-Cost Airline by Skytrax for 14 consecutive years recently. AirAsia Aviation Group Ltd group chief executive officer Bo Lingam said the group aims to reinstate 200 Jet Fighters back into operations by the end of the year.

While my Lady is expected to deliver a Prince this month, AA has already posted RM 966 million net profit! This is another Golden Goose that lays Golden Eggs. This week Mabel has re-entered AA at 91 Sen after locking profits between RM 1.08 and RM 1.10...collection continue. Both Lady Sapura and AA has given Mabel double digit Gain since she starts taking interest to turnaround these two PN17 Companies…

To Our Success !

Captain Mabel Meow

Waiting for 1st re-entry at 88 sen..

Meow

Wow.. The earlier the merrier..

Meow Meow Meow

TalkNumberOne Meow meow one more quarter of green needed. This month we will know 💃
06/09/2023 10:36 AM

Indeed. 30th September will be a great day for all of us..

Meow Meow Meow

*Let’s see which of these two Mabel Companies will get out of PN17 first*.

SAPURA ENERGY BERHAD Major shareholder: PNB
CAPITAL A BERHAD Major shareholder: Tony Fernandez, PNB and Foreign Fund

*SAPURA ENERGY BERHAD*
Market Cap: 879 million
NOSH: 15,979 million
Avg Volume (4 weeks): 91,325,794
4 Weeks Range: 0.04 - 0.065
4 Weeks Price Volatility (%): 60.00%
52 Weeks Range: 0.03 - 0.065
52 Weeks Price Volatility (%): 71.43%

Announcement dated 1 September 2023: PRACTICE NOTE 17 / GUIDANCE NOTE 3
The Board of Directors of the Company wishes to provide a status update on the Company’s efforts to address its PN17 status. As announced on 13 June 2023, Bursa Securities had, vide its letter dated 12 June 2023, granted the Company an extension of time of 6 months up to 30 November 2023 for SEB to submit its Regularization Plan to the relevant regulatory authorities. With this extension, the Company has approximately 3 months to submit its Regularization Plan to the relevant authorities for approvals.

CAPITAL A BERHAD
Market Cap: 3,916 million
NOSH: 4,211 million
Avg Volume (4 weeks): 31,266,284
4 Weeks Range: 0.915 - 1.12
4 Weeks Price Volatility (%): 7.32%
52 Weeks Range: 0.56 - 1.12
52 Weeks Price Volatility (%): 66.07%

Announcement dated 1 September 2023: PRACTICE NOTE 17 / GUIDANCE NOTE 3
As announced on 27 July 2023, Bursa Securities had granted the Company an extension of time of three (3) months until 7 October 2023 for the Company to submit its regularization plan to the relevant regulatory authorities. Therefore, the Company has approximately one (1) month to submit its regularization plan to the relevant regulatory authorities for approval to implement the same.

To Our Success!
Captain Mabel Meow

Wow...Life is so beautiful..

Meow

Hihihi..

Haha both Mabel Airlines are above par when cums to F&B Logistics..

Malaysia is poised to see 18 million international tourist arrivals in 2023, compared with 16.1 million projected initially.

The performance so far this year is easily on track to surpass the 2022 figure of 10.07 million tourists, which generated RM28.23bil in tourism revenue...

No wang will go hungry flying Mabel Airlines...

Captain Mabel Meow

https://www.msn.com/en-my/news/national/malaysia-airlines-ends-in-flight-catering-partnership-with-brahim-s/ar-AA1fYW59?ocid=msedgdhp&pc=U531&cvid=72f7d94469a84f3d9342e24847a3a906&ei=18

Huangbk72 Poor Pitiful Deranged ConMabel

Why park myself here? Debt not resolved and no way so far...

Keep talking and buying all you want...

Hope SAP dont end up like your Serba..

LOL
05/09/2023 7: 20 PM

Haha ConHuang still here ke..

Just because you lose doesn't mean everybody has to lose too..

Sayonara

Meow

Sslee For those who do not know how a weakening MYR against USD will affect CapitalA balance sheet with borrowing, lease liability and maintenance in USD:

As at 31/3/2023
Foreign exchange reserve: RM (83,054,000)

As at 30/6/2023
Foreign exchange reserve: RM (1,657,962,000)
05/09/2023 2:16 PM

Handsome Sslee Dear

Can you explain how you derived so much jump for just 3 months..

Hope Tony is looking into this..

Sigh.. Still waiting patiently to reenter

Meow

FGV has been granted it's 5th Extension to address the public spread until March 2, 2024...

Good luck Guys

Meow

Mabel is waiting patiently to renter CapitalA after CapitalA Missiles was automatically triggered by her AI Trading platform due to heavy attacks from Short Selling last week by the Syndicates. Mabel target re-entry is 75.5 sen.

S1: 0.88.
Pivot: 0.925.
R1: 1.00.
R2: 1.20.
R3: 1.45.

CapitalA Technical Chart has already breaches 20,50 and 100 Moving Average with Bearish MACD signals appeared last week. Currently CapitalA is now Oversold...

Meow

TalkNumberOne Meow meow where is your stalker?
04/09/2023 1:32 PM

Haha he returned to PM Corpse and RIP...

Meow

Wah Felix888, one more sen game over..

Congrats !

Sap is now trading at 6 sen...

To Our Success!

Meow Meow Meow

What's The Opportunity In Capital A Berhad?

The share price seems sensible at the moment according to my price multiple model, where I compare the company's price-to-earnings ratio to the industry average. I’ve used the price-to-earnings ratio in this instance because there’s not enough visibility to forecast its cash flows. The stock’s ratio of 10.2x is currently trading slightly below its industry peers’ ratio of 14.99x, which means if you buy Capital A Berhad today, you’d be paying a decent price for it. And if you believe that Capital A Berhad should be trading at this level in the long run, then there’s not much of an upside to gain over and above other industry peers. In addition to this, it seems like Capital A Berhad’s share price is quite stable, which could mean there may be less chances to buy low in the future now that it’s trading around the price multiples of other industry peers. This is because the stock is less volatile than the wider market given its low beta.

What does the future of Capital A Berhad look like?

Future outlook is an important aspect when you’re looking at buying a stock, especially if you are an investor looking for growth in your portfolio. Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations. Capital A Berhad's earnings over the next few years are expected to increase by 91%, indicating a highly optimistic future ahead. This should lead to more robust cash flows, feeding into a higher share value.

What This Means For You

Are you a shareholder? CAPITALA’s optimistic future growth appears to have been factored into the current share price, with shares trading around industry price multiples. However, there are also other important factors which we haven’t considered today, such as the financial strength of the company. Have these factors changed since the last time you looked at CAPITALA? Will you have enough confidence to invest in the company should the price drop below the industry PE ratio?

Are you a potential investor? If you’ve been keeping tabs on CAPITALA, now may not be the most optimal time to buy, given it is trading around industry price multiples. However, the optimistic forecast is encouraging for CAPITALA, which means it’s worth diving deeper into other factors such as the strength of its balance sheet, in order to take advantage of the next price drop.

In light of this, if you'd like to do more analysis on the company, it's vital to be informed of the risks involved. To help with this, we've discovered 3 warning signs (1 makes us a bit uncomfortable!) that you ought to be aware of before buying any shares in Capital A Berhad.

Source: Wall Street

Meow

#DividendGuy67 I think next year, should challenge RM8 with 60% probability (i.e. more likely to happen, than not).
29/08/2023 6:59 PM

Absolutely !

PCHEM did much better this year...

Upcoming dividend of RM0.08 per share at 5.8% yield

Eligible shareholders must have bought the stock before 07 September 2023.
Payment date: 21 September 2023.

Payout ratio is a comfortable 54% and the cash payout ratio is 76%.
Trailing yield: 5.8%.

Within top quartile of Malaysian dividend payers (5.1%).

In line with average of industry peers (5.5%).

To Our Success !

Meow

#EngineeringProfit Second announcement, I repeat!!

(Captain Mabel is absence in the cockpit today - not contactable by the way)
01/09/2023 9:14 AM

Haha Captain Mabel waiting patiently at 75.5 sen.

To Our Success!

Meow

Wow what happen?

Mabel open trading screen Sapnrg is the most active counters...

Life is sooooooo beautiful...

Meow Meow Meow

Noted and thanks speakup..

Cheers

Meow

Happy Merdeka Everyone !

New minor risk - Financial position

The company has negative equity.

Total equity: -RM10b

This is considered a risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. It should be noted that some of the negative equity could be due to large buybacks of stock, which is not as much of a risk as a company with overwhelming debt, but likewise is not sustainable in the long-term.

Currently, the following risks have been identified for the company:

Major Risk - Negative equity (-RM10b).

Minor Risks - Large one-off items impacting financial results.

Source: Wall Street

Meow

speakup @Mabel, u like yields, buy some REITS. Some REITS give 5-6% dividend
30/08/2023 8:40 PM

Indeed speakup!

Previously, beside KLCC Mabel also has IGB, Pavilion and Sunway REIT. Now Mabel keep only KLCC (5.6% Yields) for Malaysia and CapitaLand Integrated Commercial Trust (5.5% Yield) and Keppel REIT (6.8% Yield) in Singapore.

So currently, Mabel’s Real Estates covers 2 S-REITs and 1 M-REITs :

S-REITs

CapitaLand Integrated Commercial Trust (SGX: C38U), or CICT for short, is a commercial and retail REIT with a diversified portfolio of properties in Singapore, Germany, and Australia. They own and invests in income-producing assets, which are used for retail purposes primarily in Singapore. Its portfolio consists of approximately 3,100 leases with local and international retailers and has a committed occupancy of approximately 97.6%. It is leader in Singapore and Asia’s third largest REIT just behind Mulan’s Hong Kong’s Link REIT and Australia’s Scentre Group. It Assets Under Management of S$24.2 billion as of 31 December 2022. This week CapitaLand Investment has acquired six rental housing assets in Japan for $141.4 mil.

Keppel REIT is one of the biggest office landlords with a market cap of $3.6 billion. It owns and manages 12 office buildings across Singapore, Australia, and Korea. These are prime grade-A offices. In Singapore, it owns some of CBD’s most iconic buildings, including a 79.9%-stake in Ocean Financial Centre, 33.3%-stake in Marina Bay Financial Centre, 33.3%-stake in One Raffles Quay and Keppel Bay Tower.

M-REIT

KLCC is Malaysian Iconic Building with The Petronas Twin Towers. It was the world's tallest twin skyscrapers and remained the tallest buildings in Malaysia until 2019, when they were surpassed by The Exchange 106. TDM once said it will eternally remain the World’s Tallest Building when you add the two tower together. Full year 2022 earnings exceed analysts’ expectation.

Perhaps this is the most perplexing. Mabel’s Biggest S-REIT has a Market Capitalization of SGD 12.765 billion while Mabel’s Biggest M-REIT has a Market Capitalisation of RM 12.4 billion. That mean CICT is 3.5X bigger that KLCC.

To Our Success!

Meow

#Dakewlest Yes, Mabel, to our success.
30/08/2023 7:51 PM

Indeed, our Success has cum...

BIMB Second quarter 2023 results:

EPS: RM0.06 (up from RM0.054 in 2Q 2022).
Revenue: RM544.3m (up 5.6% from 2Q 2022).
Net income: RM136.1m (up 16% from 2Q 2022).

Profit margin: 25% (up from 23% in 2Q 2022). The increase in margin was driven by higher revenue.

Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Banks industry in Malaysia.

Happy Merdeka Every One !

To Our Success!

Meow Meow Meow

Haha really nice closing...GREEN! and Capital A is Mabel’s Biggest Mover today..

Perhaps my Lady Sapura can take a lesson from Smart Tony. Tony Fernandes was admitted as an associate member of the Association of Chartered Certified Accountants (ACCA) in 1991 and became Fellow in 1996. He is currently a member of the Institute of Chartered Accountants in England and Wales (ICAEW).

Remeasurement is the process of re-establishing the value of an item or asset to provide a more accurate financial record of its value. Companies use remeasurement to report assets that are valued in a different currency on their financial statements. Remeasurement is also used in instances of impairment of long-term assets, such as a fixed asset or intangible. COVID-19 brought about complications relating to the testing for goodwill impairment and valuation for remeasurement.

Tomorrow is a Merdeka Day, Perhaps all of us can start remeasure our respective figures..

Thank you Tony and Team for making this year Merdeka a memorable Merdeka. Now every wang can fly home to visit their loves one...

Captain Mabel Meow

Results analysis

• 2Q23 core net loss was 78% narrower YoY largely due to:- (i) passengers carried recovering 100% YoY; and (ii) average fuel price falling 31% YoY; but moderated by (i) fuel consumption recovering 128% YoY.

• 2Q23 core net loss was 36% narrower QoQ largely due to:- (i) passengers carried recovering 29% QoQ; and (ii) average fuel price falling 14% QoQ; but moderated by (i) fuel consumption recovering 34% QoQ. August 30, 2023 4 Capital A

• 6M23 core net loss was 73% narrower YoY largely due to:- (i) passengers carried recovering 111% YoY; (ii) unit passenger revenue recovering 19% YoY; and (iii) average fuel price falling 17% YoY; but moderated by (iv) fuel consumption recovering 137% YoY. Other updates

• CAPITALA now plans to submit its PN17 regularisation plan to Bursa Malaysia Exchange in 4Q23.

• We gather that it will be in early Oct 2023 as its deadline to submit its regularisation plan is 7 Oct 2023.

• CAPITALA may sell a stake in its aviation business for USD300m before year end.

• Cambodia AirAsia (Not Listed) will commence operations in Nov 2023 with 2 aircraft initially.

*Capital A Value Proposition*

1. Asia’s leading low cost carrier with highest market share, largest fleet size and most extensive route network.
2. Operates in 4 countries after exiting Japan and India, which provides unrivalled route network reach.
3. Lowest unit cost airline in the world. Management is very ambitious, cost conscious and forward-thinking.
4. Growing middle class in Asia fuelling growth in demand for air travel.
5. Won the coveted ‘World’s Best LCC’ award for a record 14 times in a row by Skytrax.

Core losses narrowing but so is upside potential

Ex-exceptional items, CAPITALAs core net loss came in narrower than expected. Unit passenger revenue eased only marginally in what is historically a weak 2Q. Going forward, we expect demand and fares to trend higher on seasonally higher demand. We narrow FY23E core net loss by 35%, raise FY24E/FY25E core net profit by 38%/28% and raise our SOP-TP to MYR1.01 from MYR0.90. Yet, CAPITALA offers <10% upside potential currently. Thus, we performance downgrade CAPITALA to HOLD from BUY.

Source: Mabel's Tiger Bank

A decent set of 2Q23 results

Bank Islams 1H23 earnings were within our expectations and we tweak earnings up by 2-4% for FY23-25E. Positively, the bank bucked the industry trend with a QoQ improvement in NIM and its gross impaired financing ratio. We maintain a HOLD on Bank Islam with a slightly higher TP of MYR2.20 (from MYR2.05) on rolling forward valuations to FY24E on an unchanged PBV of 0.7x (FY24E ROE: 7.1%).

Meow

Another reason why Mabel loves BIMB is because it gives good Dividend compare to Mabel's other Collection of Great Companies. In addition, this Bank is supported by Institutional Investors..

List of Dividend Payers

Company Annual Yield
Bank Islam Malaysia Berhad 6.6%
Malayan Banking Berhad 6.4%
Sime Darby Berhad 5.8%
PETRONAS Chemicals Group Berhad 5.7%
KLCC Property Holdings Berhad 5.6%
CIMB Group Holdings Berhad 4.6%
Sime Darby Property Berhad 2.9%
Sunway Berhad 2.7%
Gamuda Berhad 2.7%

To Our Success!

Meow

#Dakewlest Mabel, any personal TP for BIMB?
27/08/2023 5:11 AM

Mabel usually follow Maybank TP which is RM 2.20. However as you can see AmInvest is more bullish witha TP of RM 2.50..

To Our Success!

Meow

#JrWarren @Mabel
U also bought this?
I can see the outlook is improving after the restructure with revenue and profit increase gradually. Gross NPL also drop to 1.07%.

30/08/2023 10:36 AM

Yes JR together with Maybank and CIMB. Below is what I shared in March why Mabel decided to sell Public Bank and replaced it with BIMB..

To Our Success !

Meow

Stock: [BIMB]: BANK ISLAM MALAYSIA BERHAD

Mar 9, 2023 11:05 PM | Report Abuse

#speakup @kyliew, can u share why u buy bimb besides it at record low price?
09/03/2023 10:00 PM

Here's why..

Do you know that every year 1 % of Muslim Population in Malaysia will go for Hajj. Hajj is obligatory to those who can afford to go. There are 12 Million Muslim who are above 18 years old can qualify for this trip. For most of them it's a journey of a lifetimes.

In addition to the above, Muslim can perform Umrah at any time of the year. Here, there is no limits for the trip. Where do you think the Muslim park their money for this kind of trip? Surely they will park their money in BIMB. BIMB is a basically the preferred bank for Tabung Haji. Completely Shariah Compliances.

REWARDS

Trading at 3.8% below our estimate of its fair value

Earnings are forecast to grow 11.74% per year

After evaluating using Warren Buffett Economic Moat and Risk Analysis Framework, this algorithm calculates BIBM Business Performance includes Earnings, Free Cashflows, Return on Equity, Net Profit Margin, Interest Coverage and Dividends over the last 10 years. On a Scale of 1 to 10, it gives a score of 5 which is acceptable for Mabel's selection.

Few weakness in BIMB and one of them are in cashflows. FYI, there are three types of cash flow; operating, investing, and financing. Operating cash flow includes all cash generated by a company's main business activities while Investing cash flow includes all purchases of capital assets and investments in other business ventures. Currently BIMB Operating and Investing cashflow are negative. However, negative is not necessarily bad thing especially for investing as it is normal for bank to invest and expand. This usually translate to negative outflow for healthier future inflow. The negative cashflow in operation means they spend too on time and material, or if their customers don't pay them quickly enough, it will make their operating cash flow negative. They need to develop other strategies to recover their loan. Additionally, for bank this is normal for negative operating cash flow as bank main business activities are lend their money to customers while they are still expanding. So they lend more to clients so that their deposit also increases. This lending won’t give immediate return but it eventually in long run may recover as clients pay regularly.

Full year 2022 earnings released: EPS: RM0.23 (vs RM0.22 in FY 2021)

Full year 2022 results:
EPS: RM0.23.
Revenue: RM2.16b (up 9.1% from FY 2021).
Net income: RM491.7m (down 8.0% from FY 2021).

Profit margin: 23% (down from 27% in FY 2021). The decrease in margin was driven by higher expenses.

Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Banks industry in Malaysia.

To Our Success !

Meow

Today CapitalA is up by 5% mah...

Meow

#EngineeringProfit Dropping follows aax. Abang adik trending parallel lah
30/08/2023 9:40 AM

AAX dropping because quarterly earning missed expectation where else CapitalA exceed expectation. The fundamental is positive with Quarter Result on 30-Jun-2023 QoQ ⬆+ 1,858.63% YoY + 220.09%. CapitalA has sufficient cash for LEASE payment of 1 billion. In addition, they have RM 2 billion advance sales ticket (which will turn into revenue within 12 months), and RM 1 billion net cash from operation. This is another Golden Goose that lays Golden Eggs.

Meow

#mf Analysts' Consensus

High Price Target
1.250MYR
30/08/2023 8:51 AM

#paulthesotong Gain Altitude Clear Sky.

EBITA up 325% TO 462M back revenue of 3.2B

Operating cash flow over 1B.
30/08/2023 9:44 AM

#paulthesotong 2q23 146 airplanes with remaining 54 airplanes to be reactivate by end the year. Increase capacities n revenue!
30/08/2023 9:55 AM

Eagle77 Another tsunami of super limit up coming when PN17 is lifted up!!!⬆️⬆️⬆️💪💪💪😆
30/08/2023 9:42 AM

Capital A has already breaches 20 Moving Average this morning which is good. Trending is still bearish....

Mummy said if the price increases, volume and Open interest increases, it is Bullish..

To Our Success!

Meow

#SensibleInvesting

Quote

Ernst & Young PLT
AirAsia in an announcement today stated that it has triggered the Practice Note 17 (PN17) criteria of the Main Market Listing Requirements of Bursa Malaysia. This follows: (1) the issuance by its external auditor, Messrs Ernst & Young PLT, an unqualified audit opinion with emphasis of matter on material uncertainty relating to a going concern in respect of AirAsia's audited financial statements for the financial year ended 31 Dec 2019; and (2) AirAsia’s shareholders’ equity on a consolidated basis declining to only 37% of its share capital (excluding treasury shares) as at 31 Mar 2020, breaching the 50% requirement.

Unquote

30/08/2023 9:30 AM

Thanks for sharing this SI!

CapitalA needs to achieve a 50% shareholders' equity threshold, as this criterion was triggered according to Practice Note 17. As at 31 Mar 2020, the company has breached the 50% requirement.

Debt and equity are two different ways of financing a company. Debt involves borrowing cash, while equity is regarded as owned cash. The debt represents money owed to another individual or organization by a company. Equity, on the other hand, represents the company’s own money.

There are several ways to increase a company’s equity. One way is to issue new shares of preferred and common stock to investors. The issuing company must be incorporated to issue shares of stock.

Are there any other ways to increase our company equity?

Meow

why not? Anything is possible if there are willing sellers..

Meow

Today Strong RED Candle appears in Capital A breaching the 20 Moving Average. The stock is currently oversold with bearish MACD happened this week. So, Mabel will trade based on Price Movement tomorrow.

Based on this latest data, Mabel's target collection price will be at 75.5 sen.

To Our Success!

Meow

SuperPanda today red candles already gave the market indication of whats going to be happened tomorrow

they have sold earlier as the qr has came to them earlier

trade what you see not what
you think
29/08/2023 11:22 PM

Good advice SuperPanda..

Cheers!

StartOfTheBull The accounting for AirAsia is seen tricky from the beginning. More importantly is whether it can successfully exit PN17 within the allowed or extended time frame.

29/08/2023 10:31 PM

So is AAX..

If AAX can do so can AA...

Meow

#JrWarren I agree, most ppl look at profit rather than cash flow.
But do you know after all the cash payments to repair cost, interest expenses, and overhead, the cash flow from business operation is sufficient for LEASE payment of 1b.
29/08/2023 8:42 PM

...Not to forget RM 2 billion advance sales ticket (which will turn into revenue within 12 months), and RM 1 billion net cash from operation. This is another Golden Goose that lays Golden Eggs.

Mummy used to say when the price fall while open interest increases market is strengthening..

To Our Success

Meow