Hello Alex™ already so long didn't drop in i3 to zay hello. Where have you been for the past 2 years?

31.12.2023: 31.12.2022: 1.1.2022
Net current liabilities (12,669,239): (8,509,066): (6,754,176)
Capital and reserves
Share capital: 8,711,742: 8,654,977: 8,457,172
Merger deficit: (5,507,594): (5,507,594): (5,507,594)
Foreign exchange reserve: 217,047: 1,178,273: 601,494
Accumulated losses: (12,321,978): (10,254,769): (7,094,693)
Reserves: 138,642: 204,020: 161,321
Total shareholders' deficit: (8,762,141): (5,725,093): (3,382,300)
Non-controlling interests: (1,862,596): (3,791,865): (3,040,603)
Total deficit: (10,624,737): (9,516,958): (6,422,903)

Question 4: Auditor based on above financial figures what is your opinion on the Group financial health from 1.1.2022 to 31.12.2022 to 31.12.2023 (improving and healthy or deteriorating into ICU level)?

No need to thank me so early. CapA is a PN17 company for a reason and Stony is neither a magician that can creat money out of thin air. CapA financial health is at ICU level.

Thank me only if you want after the AGM

Just a simple question:
Do you think an efficient and clean Singapore government will give a lucrative 21 years PPA to Ytlpower like Mahathir did?

For apple to apple comparision YTLpower Vs Yinson.
Both depend on high debts for growth.
Yinson 2026 earning will spike up and YTLpower earning still not very sure can sustain.

Indonesia already long ago did not subsidise diesel and petrol. Why is it so difficult for Malaysia to do so?

Example of my questions:
31. Leases
2023: 2022
RM'000: RM'000
Current: 5,438,692: 4,340,844
Non-current: 13,750,088: 10,717,036
Total: 19,188,780: 15,057,880

The following are the amounts recognised in profit or loss:
2023: 2022
RM'000: RM'000
Depreciation of right-of-use assets: 1,566,935: 1,309,533
Interest expense on lease liabilities: 852,954: 705,152
Expense relating to short-term leases: 25,549: 27,922
Reversal of impairment of right-of-use assets: - : (552,290)
Reversal of impairment of finance lease receivables: - : (98,923)
Total amount recognised in profit or loss: 2,445,438: 1,391,394

Cash flows from financing activities:
2023: 2022
RM'000: RM'000
Proceeds from borrowings: 1,273,030: 1,167,698
Repayment of borrowings: (396,936): (309,485)
Payment of lease liabilities: (2,045,816): (1,171,914)
Net cash used in financing activities: (1,169,722): (313,701)

The Group had total cash outflows for leases of RM 2,045 million in 2023 (2022: RM 1,200 Million). Included in lease liabilities are lease rental payables amounting to approximately RM 2,810 million (2022: RM 2,282 million)

Question 5: Auditor please explain the different FYE 2022 current lease liabilities is RM 4,340,844,000 in FYE 2023 why total amount (lease) recognised in profit or loss: RM 2,445,438,000. Payment of lease liabilities in cash flow: RM (2,045,816,000)?

Question 6: Auditor what it means by Included in lease liabilities are lease rental payables amounting to approximately RM 2,810 million?

Referring: under MFRS 16:
(i) On the Consolidated Income Statement, expenses which were previously included under aircraft operating leases will be replaced by finance costs – lease liabilities and depreciation of right of use asset;
(ii) On the Consolidated Cash Flow Statement, operating lease rental outflows, previously recorded within net cash flow from operating activities, are classified as “net cash flow used in financing activities” for repayment of principal of lease liabilities.

Charlie Munger's Best Quote “I think that, every time you saw the word EBITDA, you should substitute the word "bulls**t" earnings.”

Question 7: Auditor, can you please explain what Charlie Munger is trying to say on EBITDA?

Question 8: BOD why every quarter presented the beautiful EBITDA figure without stating “under MFRS 16: On the Consolidated Income Statement, expenses which were previously included under aircraft operating leases will be replaced by finance costs – lease liabilities and depreciation of right of use asset”

Page 12: External Auditor Going Concern Assessment:
Quote, “The Group reported a loss for the year of RM 96 million whilst the Company reported a loss for the year of RM 1,960 million, for the financial year ended 31 December 2023. The group and the Company reported net operating cash flow of RM 1,413 million and RM 72 million respectively. As at 31 December 2023, the group current liabilities exceed its current assets by RM 12,699 million. In addition, as at 31 December 2023, the Group reported a negative shareholders’ funds of RM 8,762 million.” unquote

Question 9: Auditor if total cash outflows for leases RM 2,045 million under financing activities is moved back to previously recorded within net cash flow from operating activities what will be FYE2023 net operating cash flow?

Question 10: Auditor
Sales in advance: RM 2,025,298,000
Proceeds from borrowings: RM 1,273,030,000
The Group only managed payment of lease liabilities: RM 2,045,816,000 which is far off the amount of current lease liabilities reported at FYE 2022 RM 4,340,844,000. What happens to the unpaid FYE 2022 current lease liabilities?

“Going Concern Assessment” (Refer page 12-13).
Quote, “Management had prepared a cash flow forecast as part of the assessment on whether the Group and the company will be able to continue as a going concern.” Unquote

Question 11: Auditor looking back on FYE 2022 Management cash flow forecast on going concern is that cash flow forecast fulfilled as at FYE 2023 audited financial result?

Question 12: Auditors if FYE 2022 cash flow forecast is far off the mark as per actual achieved then as at 31 December 2023, the group current liabilities exceed its current assets by RM 12,699 million. Are Auditors satisfied with management's cash flow forecast for year 2024 that the group will not default on the net current liabilities of RM 12,699 million?

My questions will be more or less seeking answer from Auditor and BOD on the financial figures, what it mean and financial health of CapA.

Nothing personal and by the way who care when is Stony birthday?

How about those sold insas above RM 1.20?

Jtiasa already becoming a net cash company and I am looking forward to receive more dividend from Jtiasa.

JTIASA free cash flow for Q2 24 is 134.46 M MYR. For 2023, JTIASA free cash flow was 248.23 M MYR and operating cash flow was 297.19 M MYR.

Wednesday, 28 Feb 2024
PETALING JAYA: Malaysia is in a sweet spot to enter a prolonged bull market, says prominent fund manager Tan Teng Boo.

According to the founder and owner of icapital.biz Bhd, the benchmark FBM KLCI could potentially rise to 2,500 – 3,000 points in the next three to five years, citing it is a “realistic target”.

Why play momentum? Just sell everything your house, car, gold, etc and all in Bursa. Don't you believe the word of wisdom from our Malaysia Warren Buffett?

Most likely Stony will be crying looking at my send in advance AGM questions.

Majority 13,894 shareholders hold 1,001 to 10,000 insas shares.

ANALYSIS OF
SHAREHOLDINGS
as at 29 September 2023

ORDINARY SHARES
Number of shares issued : 663,020,762 (excluding 30,327,291 treasury shares)
Class of shares : Ordinary shares
Voting rights : One vote per ordinary share
ANALYSIS BY SIZE OF HOLDINGS
No. of No. of
Size of holdings shareholders % ordinary shares %
Less than 100 2,540 11.58 89,136 0.01
100 - 1,000 1,675 7.63 701,877 0.11
1,001 - 10,000 13,894 63.34 47,418,784 7.15
10,001 - 100,000 3,364 15.33 92,263,710 13.92
100,001 - less than 5% of issued shares 462 2.11 382,438,908 57.68
5% and above of issued shares 2 0.01 140,108,347 21.13
21,937 100.00 663,020,762 100.00

And many of current Bersatu members ex UMNO members also ONCE UPON A TIME bersumpah taat setia pada UMNO.

It only need one man Tong theedgemalaysia to buy up 5% to become substantial shareholder to move Insas share price north.

Aiyoyo once upon a time PAS Hadi also peluk memeluk DAP LGE openly on stage.

The dumbass is the one use his pasar malam TA tool to tell his TA story that jaks 19 sen is at point 1 (the floor) and the only way for jaks is up up away.

No prizes for guessing who is this dumbass.

Since M&A is the PP advisor hence M&A is reponsible to place out all the PP jaks share to whoever have the money to take up the PP share at 12 sen. It is all a business deal, nothing more nothing less

Some dumbass hold his jaks at 19 sen tight tight. Sharks get their PP jaks shares at 12 sen and insiders get the LTIP jaks shares for free.

Anyone need any help from Insas CEO to subscribe for Jaks PP at 12 sen?

Already half way thro' in preparing my hard hitting and probing AGM questions.

I thought TTB is Malaysia Warren Buffett and icapital is Malaysia Berkshire.

Insas run M&A securities and an along business (Insas Credit and Leasing). Any SME or Tech start up that need funding and listing to tap into equity funding are welcome to seek Insas help.

Inari is one of the company that happen to seek Insas help for funding and listing, nothing more nothing less.

If by next AGM the cash hoard keep increasing and no sign of BOD reinvest the retained earnings for the long-term growth of the company then BOD should return part of the retained earning to shareholders for them to reinvest.

March 20, 2024, by Melisa Čavčić
A floating production, storage, and offloading (FPSO) vessel destined to work at an oil field in the Santos Basin, has left a shipyard in Dubai, UAE, and set sail for Brazilian waters.


FPSO Atlanta; Source: Yinson Production
Enauta signed a contract with Yinson for the conversion of an existing production unit – purchased in February 2022 – so that the FPSO could be used for the Atlanta field’s Full Development System (FDS). In July 2023, Yinson exercised its option to buy the FPSO Atlanta through the purchase of all the shares of AFPS, which owns the vessel.

Following shipyard works and sea trials, the FPSO Atlanta is now en route to the Atlanta field in Santos Basin off the coast of Brazil. According to Enauta, this is in line with the project schedule and the estimated time of arrival (ETA) for the FPSO is 45 days, which may vary depending on sea conditions.

Upon the vessel’s arrival, anchoring and submarine systems connection works are expected to start, with the first oil anticipated in August 2024. Yinson Production held a naming ceremony for the FPSO Atlanta at Dubai Drydocks World in Dubai on December 13, 2023.

FPSO Anna Nery achieved financial acceptance in May-23 and began generating lease income.
Currently, it still has 3 more FPSOs under construction.
FPSO Atlanta and FPSO Maria Quiteria will be delivered in year 2024 and FPSO Agogo will be delivered by Feb-26

FPSO Maria Quitéria is Yinson Production’s third FPSO destined for Brazil, following FPSO Anna Nery, which has been operating for Petrobras since May 2023, and FPSO Atlanta, which is expecting first oil in summer 2024 and will operate for Enauta.

Only FPSO Agogo under contruction and need capital. FPSO Alanta and Maria Quiteria on it way deliver to client.

Yinson Production has held the naming ceremony for FPSO Maria Quitéria which will deployed in at Petrobras’ Jubarte field offshore Brazil.

The naming ceremony for the FPSO Maria Quitéria was held at Cosco Shipping Heavy Industry (Shanghai) Shipyard in China on April 3, 2024.

FPSO Maria Quitéria is a conversion project with a production capacity of 100,000 barrels of oil per day and a storage capacity of 1,000,000 barrels.

The vessel will be the first FPSO in Yinson Production’s fleet to operate heat recovery steam generation (HRSG) as part of its combined cycle power generation system.

HRSG is one of several technologies that we are implementing across Yinson’s fleet, in line with its efforts in reducing carbon emissions and be the frontrunner in decarbonizing the FPSO industry towards the goal of net zero.

Yinson Production was awarded the FPSO Maria Quitéria project by Petrobras in November 2021 and the conversion works started on January 25, 2022.

The project has been progressing according to schedule, with all topside modules onboard and integrated, and commissioning underway. Sail away to Brazil will be in the second quarter of 2024 and the asset will be deployed at the Jubarte field, as part of the Parque das Baleias Integrated Project, located in the northern part of the Campos Basin, offshore Brazil.

The deployment is part of a 22.5-year lease and operate contract with a total contract value of up to $5.3 billion.

FPSO Maria Quitéria is Yinson Production’s third FPSO destined for Brazil, following FPSO Anna Nery, which has been operating for Petrobras since May 2023, and FPSO Atlanta, which is expecting first oil in summer 2024 and will operate for Enauta.

FYE2024 Yinson Production EPCIC results overview (YoY)
YTD Q4
FYE 2023
(RM’ mil)
YTD Q4
FYE 2024
(RM’ mil)
Variance
(RM’ mil)
Revenue 4,561 9,220 4,659
Gross Profit 813 1,440 627
EBITDA 792 1,441 649
PAT 340 682 342
PATAMI 401 648 247

During FPSO contruction EPCIC result. After FPSO delivered and acceptance then it is Production Operations results.

FYE 2024 Yinson Production Operations results overview (YoY)
Revenue PAT

YTD Q4 FYE 2023
(RM’ mil)
YTD Q4FYE 2024
(RM’ mil)
Variance (RM’ mil)
Revenue 1,631: 2,279 : 648
Gross Profit 951: 1,480: 529
EBITDA 1,162: 1,643: 481
PAT 576 :776: 200
PATAMI 498: 628 :130

The PAT margin is 776/2279 about 34%

Repoat:
FPSO Anna Nery achieved financial acceptance in May-23 and began generating lease income.
Currently, it still has 3 more FPSOs under construction.
FPSO Atlanta and FPSO Maria Quiteria will be delivered in year 2024 and FPSO Agogo will be delivered by Feb-26

By 2025 you should see the result of the earning power of FPSO Atlanta and FPSO Maria Quiteria

Repost:
FYE 2024 Yinson Production Operations results overview (YoY)
Revenue PAT

YTD Q4 FYE 2023
(RM’ mil)
YTD Q4FYE 2024
(RM’ mil)
Variance (RM’ mil)
Revenue 1,631: 2,279 : 648
Gross Profit 951: 1,480: 529
EBITDA 1,162: 1,643: 481
PAT 576 :776: 200
PATAMI 498: 628 :130
 Increase in revenue was due to fresh contribution from FPSO Anna Nery’s operation since first oil was achieved on 7 May 2023 and rate escalation for operating FPSOs, offset by loss of revenue contribution from Adoon after disposal in Q4’

Repost:
Building a new FPSO costs approximately US$ 2.5 Bn to US$ 3 Bn. However, the cost of conversion of an oil tanker is approximately between US$ 1.5 Bn and US$ 2 Bn.

Someone should join politic. It is a waste of his talent managing a small fund rather than management a government or a GLC.

US$1.7b in Indonesia, Azure data centre in Thailand, US$2.2b in Malaysia: All eyes on spillover effect as Microsoft goes big in SEA
Twentytwo13
Fri, 3 May 2024 at 9:31 am GMT+7
5-min read

Microsoft announced nearly US$10 billion in investments in AI abroad in recent months, eager to dominate the market. This will certainly get Google, Meta and even Amazon following suit.

The latest series of investments is set to trigger a healthy competitive environment, specifically in the AI sphere, in the region. The Asian Development Bank, exactly a month ago, said foreign direct investments (FDI) in Southeast Asian nations reached a record high of US$224 billion in 2022, up 5.5 per cent from the previous year. The resilience of FDI flows to the region is in part due to the reshaping of global supply chains and the greening of emerging markets.

Because they are lonely and have nothing better to do or even have no money to buy any share especially Mike-tikus.

I only hold a small position and loooking forward to wawasan 2026 when three (3) more FPSO in operation.

Will monitor the cashflow then if still negative will run fast fast.

As of Jaks it is now wawasan 2030 when JHDP pay off all it' 10 year term loan then most likely jaks will receive big dividend from JHDP till then avoid.

The NAV of icapital.biz Berhad, in absolute amount, is now more than RM550 million. It is time for Bursa Malaysia to include icapital.biz Berhad as a component stock of the KLCI

Is icapital component stock of the KLCI refer to FTSE Bursa Malaysia KLCI index?

If the answer is yes then someone much be ill informed, financially illiterate and unfit to manage any fund.

Selection of FTSE Bursa Malaysia KLCI Constituents
The FTSE Bursa Malaysia KLCI comprises the largest 30 companies listed on the Main Board by full market capitalisation that meet the eligibility requirements of the FTSE Bursa Malaysia Ground Rules.

The two main eligibility requirements stated in the FTSE Bursa Malaysia Ground Rules are the free float and liquidity requirements as indicated below :-

Free Float
Each company is required to have a minimum free float of 15%. The free float excludes restricted shareholding like cross holdings, significant long term holdings by founders, their families and/or directors, restricted employee share schemes, government holdings and portfolio investments subject to a lock in clause, for the duration of that clause. A free float factor is applied to the market capitalisation of each company in accordance with the banding specified in the FTSE Bursa Malaysia Ground Rules. The factor is used to determine the attribution of the company's market activities in the index.

Liquidity
A liquidity screen is applied to ensure the company's stocks are liquid enough to be traded. The method is based on the calculation of the stock's median daily trading per month.

Serbak report fake projects, fake contracts, fake inventories, fake receivables and even fake suppliers.

Are Yinson book orders/contracts win fake or the FPSO also fake?

Second misleading thing - iCap lost the appeal all the way to Federal court when the court rules no individual shareholder exceeded 20% holding.

Are you saying icapital is openly and blantantly show his middle finger /contempt of Federal court rulling that no individual shareholder exceeded 20% holding?

Did icapital committed an offence punishable with jail term or fines under Malaysia law for contempt of Federal court rulling?

Quote,"As its fund manager, my investing decisions influence the NAV performance of icapital.biz Berhad. On the other hand, the market price of icapital.biz Berhad is, positively or negatively, determined by investors, especially those who breached the 20% single shareholder limit.

i Capital.biz Berhad 1Q2022 Report" unquote.

Even I took a heavy losses in Xingquan and yet today I already build up a portfolio worth few millions.

Wonder Mike-tikus holding 200 unit of HRC at RM 4.40 for case study and with heavy book losses in jaks (dumb dumb hold at 19 sen), his current portfolio is worth how much?

Yes a love letter indeed. But why?
Who is Stony trying to vow/kidding?

Of course, you may wonder why we need AirAsia X when we can do it ourselves within Capital A. The short answer: speed. AirAsia X already has many medium haul routes, approvals and slots in hand and that will enable us to get going much, much faster than if we were to start
applying for the same today.

Stony is such a sweet talker wonder how many sweet sixteen fall for his sweet talk?

Posted by new_in_share > May 4, 2024 2:02 AM | Report Abuse
Sifus why Insas dividend only 2.5 sen and not more? It seems FD higher rate.

It was 1 sen then 2 sen and now 2.5 sen during last AGM the BOD replied:
The Board, after careful consideration, has proposed to maintain a stable 2.5 sen cash dividend per ordinary share which will provide a reasonable dividend yield of 2.8% at current market price, and to preserve and reinvest the retained earnings for the long-term growth of the Company, for prudent and cautious financial management practices and to safeguard against the global economic uncertainties.

Look like shareholders need to keep demanding for better dividend.

Me already make how many rounds of jaks trading profit even from KYY pump and dump time.

Only Mike-tikus dumb dumb hold his jaks at 19 sen till now. So jangan malu sudah berapa digits paper loss?

Jaks.
Quarter end 31/12/2023: culmulative 12 months end 31/12/2023
RM'000: RM'000
Other Operating, Administrative Expenses (68,753): (127,617)
Finance cost (8,139): (28,509)

So Q1 end 31/3/2023 what will be Jaks profit/loss look like?

Most likely Q1 will report some profit from share of profit in JV. But cash flow negative.

With finance cost and Other Operating, Administrative Expenses far excess the dividend from JV, many more PP and RI are coming.

LOL.
Up one sen someone is so happy to make a comeback to jaks forum and posted his gibberish.

Just wonder why not he post his questions to ALP during the coming AGM?

The NAV of icapital.biz Berhad, in absolute amount, is now more than RM550 million. It is time for Bursa Malaysia to include icapital.biz Berhad as a component stock of the KLCI

Just for my understanding.
Component stock of KLCI mean what?
How to be included into this component stock?
Any market capital or NAV criteria/qualification to be included into component stock of KLCI?

Is icapital know above answer before coming out with a statement that icapital NAV is now more than RM 550 million and it is time for Bursa Malaysia to include icapital.biz Berhad as a component stock of the KLCI?

If the merge go thro' capA is saved but AAX/NewCo will fail as a RM 1 billion new capital injection to AAX/Newco is not enough to even last for 1 year.

KUALA LUMPUR (April 26): The corporate exercise to merge the AirAsia airline businesses under AirAsia X Bhd (AAX) is apparently sufficient to offset all of the RM8.7 billion negative equity in Capital A Bhd, according to chief executive officer Tan Sri Tony Fernandes.

The divestment of AirAsia Aviation Group Ltd (AAAGL) is expected to give rise to a pro forma gain of RM4.69 billion to Capital A, while the disposal of AirAsia Bhd (AAB) would result in a gain of RM6.07 billion.

CapitalA Balance Sheet as at 31/12/2023 of:
Net current liabilities: RM (12,669,239,000)
And Net total assets/total equity : RM (10,624,737,000)

CapitalA with above financial figure is definately an insolvent company as no way capA can generate enough cash flow in next 12 months to pay for the net current liabilities of RM 12.669 billion.

Anyway miracle do happen, hope Stony is the magician that can pull out this RM 12.669 billion from his magic hat.

SIA biggest holder is government fund (Temasek) and shareholder's money is used to recapitalization.

CapA without equity recapitalization or debts restructure it financial position is deteriorating when other recapitalized (SIA) or debts restructure (MAS) is reporting very good profit and pay bonus to their employees