JHDP doing very well but did jaks take up the addition 10% JHDP?

Another Buffet wannable?

Berkshire Hathaway's massive insurance operations require the company to have an ample cash reserve to fund potential insurance payouts.

Warren Buffett once said, “The first rule of an investment is don't lose [money]. And the second rule of an investment is don't forget the first rule. And that's all the rules there are.”

I would like to add before you invest at least make sure you read the financial report and understand the implication.

By the way at current capA market price of RM 0.84 what is the risk-reward ratio? Is it worth the risk?

Know what, almost every SEA countries now have their own LCC. Gone are the good old day where AA ruLe the sky.

Hamas dare not attack Isreal as what they did knowing Trump will immediately support Iseral to occupy Gaza, finish the job and even authorised special force to hunt down every Hamas leaders hiding in oversea.

By the way Trump treated Zelenskyy as a small boy and he will tell Zelenskyy, "Putin is my good friend, go and talk to Putin what Putin wants"

Trump is his own man and he can just stop the war if he wants.
Look he even ignored all the advisors and shook hand with North Korea Kim.

I would think there would not be a Ukraine or Hamas war if Trump was still the President.

Many democratic nations have turn to the far-right ultranationalism.

ALP will be given 20 million of LTIP free grant jaks shares just for the MOU.

Did Trump say Fight! Fight! Fight! ?
Or did he say the four letter word FXXX! FXXX! FXXX!

Is Nato, Ukraine, Russia, China and the world ready for Trump to be USA President again?

Look like Trump will win the election hands down.

Is US get what US' preach?
What do you expect US to act/react to existential threat?


Democratic Party has a remarkably singular message: Donald Trump is an existential threat to the country.

For the Biden campaign, the existential threat to democracy has become the overriding theme in his bid for reelection. “There is one existential threat: It’s Donald Trump,” Biden said at a fundraiser in February.

Education had failed Malaysians.
Sekolah Kebangsaan is now almost like a religion school.

Soon every state will be like Kelantan if PAS managed to capture the state government.

By the way no one can be as lucky as KYY born at the right time with right qualification to build a career and retire early to become a full time successful investor.

For many of us better build a career first before you want to be a successful investor.

Bewarned. Invest only with your spare money

Many Johoreon already daily cross over to Singapore to work as labourers.
Nothing wrong to work as labourer as long as you earned an honest living with better pay.

My career path:
Production Executive - Production Engineer (SAB)
Shift Manager (Tioxide)
Engineering Manager- Business Development Manager (SAB)
General Manager (MM)

I remain Malaysian but work oversea.
My second son NUS graduate now Singapore PR and soon Singapore citizen.

My reason for working oversea is because of opportunity to build something great from a green field and also for a better pay so that I can better provide for my family.

The fate of capA is on the hand of lessors and the fate of capA shareholder is on capA management to come out with PN17 regularisation plan that is acceptable to Bursa SC.

Without an acceptable PN17 regularisation plan capA delisting is inevitable.

The currency profile of borrowings are as follows:
As at 31/3/2024
RM million
Ringgit Malaysia 1,597.7
US Dollar 2,338.4
Philippine Peso 72.9
Thai Baht 734.1
Indonesian Rupiah 37.3
4,780.4

And lease payment in USD and Fuel in USD.
Will RM strengthen to 4.55-4.60?

Stony' wish list for 2024:
Positive outlook on macro indicators
○ Anticipated downward trajectory of brent Crude Oil Price is expected to persist, with prices estimated to reach as low as USD78 per barrel in 2024
○ Expected strengthening of MYR against US Dollar, with an estimated closure at RM4.20-RM4.40/USD by year-end.
○ Market expectations of further interest rate cuts in 2024, advantageous given that 70% of costs are denominated in US dollar
○ The extension of visa-free travel from China through the end of 2025

Will Stony' wish come true.

That one already run to Priva and will only come back to jaks year 2025.
And his reason is jaks will get another 500MW LSS5.

Making the matter worst is taking over 60% PAA and resulted in a total of approximately RM 2.3 billion net liabilities was transferred from PAA to the Group/negative equity from Non-controlling interest was transferred to shareholders’ equity.

MANILA -- Philippine budget airline Cebu Pacific is set to buy up to 152 Airbus jets for $24 billion to expand its fleet and meet recovering demand for flights.

How is PAA going to compete with the financially stronger and fast expanding Philippine budget airline Cebu Pacific and turnaround PAA?

The problem is how to fix their balance sheet?
The going concern is now at the mercy/pleasure of lessors.

10% PP already over for this year, next will be LTIP free grant.
Next year will be another round of either PP or RI

Who push up Insas to RM 1.11?
I am still waiting to collect Insas below RM 1.00

Those knowing earlier bought CTOS when people are panic selling.

I already sold mine after reading the annual report on number of RCPS outstanding and moreover:
Toh expects the group's net profit margin to drop for the current financial year ending March 31, 2025 (FY2025) compared with FY2024, before rebounding in FY2026 and beyond. This, she said, was because sales recognition would only come in after the new properties are launched by the end of this year.

Only in Bursa a PN17 company with net current liabilities of RM 12,923,931,000 as at 31/3/2024 and external auditors have assessed the Net Current Liabilities position for the purpose of going concern, and as disclosed in Note 2.1, the going concern of the Group and the Company is dependent on the successful implementation of the Revenue Bond Program, and also the continuous support by the lessors

The market value is still
Market Cap: 3,617 Million
NOSH: 4,305 Million
Avg Volume (4 weeks): 14,041,616
4 Weeks Range: 0.815 - 0.88
52 Weeks Range: 0.64 - 1.12

Only low IQ Mike-tikus never read and thought the 362 planes already paid for and belong to capA. Isn't he a dumbass?
Someone's ball is in the hand of the lessors.

We have assessed the Net Current Liabilities position for the purpose of going concern, and as disclosed in Note 2.1, the going concern of the Group and the Company is dependent on the successful implementation of the Revenue Bond Program, and also the continuous support by the lessors.

BOD what are the reasons aircraft lease companies/lessors demand
for the conversion of outstanding lease payments of USD240 million
(approximately RM1.1 billion) into bond (Tranche 1)?
Answer:The lessors did not demand the conversion of outstanding lease amounts into Revenue Bonds. The Revenue Bonds structure was introduced by AirAsia as a restructuring solution to manage these amounts. This approach helps us address financial obligations sustainably while providing lessors with regular income through the bonds.
We believe this strategy supports our long-term stability and operational flexibility.

Question 17: Referring below Q1 2023 presentation:
Well positioned for growth with a total of 362 aircraft in orderbook to
be delivered in the next 12 years. 73 aircraft have already been secured financing through Sales and Leaseback (SLB) arrangements with several lessors.
BOD what is the latest status on the above?

Answer: As of now, there have been no changes since the last update.

I stay at section 17 PKNS flat and later rent a room at section 17. Never stay in college.

Professor Dr mondolong was the chemical engineering head at that time. He interview me during my second year as I applied to change from chemical to civil but was unsuccessful.

Can't recall, it was such a long time ago.

Yes. That was the happy time and then we have our big dream.

RICHER is just a preception as I wouldn't change anything for what I have gone through and have now.

I might have some regret that given a chance to restart again, I might have done much better than now but then again no one can go back in time hence just learnt from the past mistakes, look forward and move on.

As fate would have it, instead of building house I end up building olechemical plant in Indonesia.

I was doing my HBP in USM and only get an offer MU engineering many months late as I was told many UM first intake leave for NUS and thus need replacement intake to fill up the vacancy.

Everyone should know Malaysia matriculation is not recognised by all the foreign countries to enter their University.

My second son get into NUS after a private Taylor's preU study.
The Singapore government gave automatic half scholarship to all foreign NUS students with condition to serves in any Singapore companies for a period of time after graduation.

My second son is a pharmacist in Singapore private hospital and he just get married with a Singaporean lady.

Everyone know matriculation is a backdoor/easy path to university or a form of cheating.

Are our top 10A SPM students also do not mind the backdoor or cheating?

Why not Philippines conduct a Referendum for Mindanao whether they want to leave Philippines?

Everyone know matriculation is a backdoor/easy path to university or a form of cheating and now even 10A SPM students do not mind the backdoor or cheating.

I did not vote during the last election because you just need to walk into Sekolah Kebangsaan and know instantly the writing's on the wall that PAS had already take over our Sekolah Kebangsaan.

Will email the below follow up clarification questions:

Referring Appendix 2 to the Minutes of the 7th AGM ISSUES RAISED BY THE SHAREHOLDERS

Question 4: External Auditor please explain the different FYE 2022 current lease liabilities is RM4,340,844,000 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)?
Answer: The FYE2022 current lease liabilities include unpaid outstanding lease.
The cash flow in FY2023 represents the actual amount paid by the Group.
The Profit and Loss items relate to interest on lease, depreciation on Right of Use assets and short term lease expense

Question 5: External Auditor what it means by included in lease liabilities are lease rental payables amounting to approximately RM 2,810 million?
Answer: This pertains to the outstanding amounts of lease rental due and payable owing to the lessors that remained unsettled as at 31 December 2023

Question 9: External Auditor, from Sales in advance: RM 2,025,298,000, Proceeds from borrowings: RM 1,273,030,000 yet 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?
Answer: For the due and payable lease payments for FYE2022 and prior year, the amount is recorded within trade and other payables in FY2023

Follow up clarification
External auditor, are the answers given on above implied as long as lessors agreed to roll over unpaid lease payment due then the income statement (P&L) accounting recognised only RM 2,445,438,000 (interest on lease, depreciation on Right of Use assets and short term lease expense) instead of the full amount Financial Year Ended 2022 current lease liabilities of RM 4,340,844,000?

Isn’t that distorted the financial income statement and the profit/(loss) for Financial Year Ended 2023?


Question 23: External Auditor, by acquiring the 60% PAA how many billions net liabilities was transferred from PAA to the Group and how many billion negative equity from Non-controlling interest was transferred to shareholders’ equity?
Answer: A total of approximately RM 2.3 billion has been transferred as a result of the acquisition

Question 25: Referring below link:
PART D – ACQUISITIONS AND DISPOSALS
https://www.bursamalaysia.com/sites/5bb54be15f36ca0af339077a/content_entry5ce3b50239fba2627b2864be/5ce3b5c439fba264f32eb401/files/MAIN_Chap10_COI_Ors__26May2023_.pdf?1685095256
External Auditor is acquisition of 60% PAA valuation percentage ratio below 5%, above 5% but below 25% or above 25% as defined by above Bursa Chapter 10: Transactions?
Answer: The valuation percentage ratio falls within the range of 2.24%, this aligns with the criteria outlined in Chapter 10: Transactions of the Bursa Malaysia Listing Requirements

Follow up clarification:
The Group paid USD16 million to acquire 60% PAA from JV local partner F&S Holdings, Inc and resulted in a total of approximately RM 2.3 billion net liabilities was transferred from PAA to the Group/negative equity from Non-controlling interest was transferred to shareholders’ equity and yet the transaction valuation percentage ratio falls within the range of 2.24%. External Auditor please kindly shows the calculation how you get this 2.24% valuation ratio?

TTB talk the talk and please walk the walk.
When will icapital announce the promised dividend?

ICap's dividend policy will not only be subject to market and economic conditions, but also its value investing investment philosophy, it said. “It will be formulated as such – a base rate of 1% of the NAV per share, plus 8% of the difference between ICAP's share price and NAV.3 Oct 2023

Needed me to say more on TheBull and The🐀?
They even think alike and act alike, so are they do the workout from behind very often?

Do you agree TheBull and The🐀 is a perfect match made in heaven?
Wish them all the best of luck.

By the way what do you expect someone with no job, no wife, no children and still staying in parent house to spend his lonely time at 3 am on a Sunday morning?

Transporter (Star Trek)

A transporter is a fictional teleportation machine used in the Star Trek universe. Transporters allow for teleportation by converting a person or object into an energy pattern (a process called "dematerialization"), then sending ("beaming") it to a target location or else returning it to the transporter, where it is reconverted into matter ("rematerialization").

While human teleportation currently exists only in science fiction, teleportation is possible now in the subatomic world of quantum mechanics -- albeit not in the way typically depicted on TV

In the future you only need AA' teleport to teleport yourself and your luggage to any destination.

Note: FYE 2022 current leaseliabilities is RM4,340,844,000 in FYE 2023 total amount (lease) recognised in profit or loss: RM2,445,438,000. Payment of lease liabilities in cash flow: RM(2,045,816,000).

So what will happen to FY 2024 net profit. if in FY2024 total amount (lease) recognised in profit or loss and Payment of lease liabilities in cash flow is close to FYE 2023 current lease liabilities of RM5,438,692,000?

BOD, FYE 2023 current lease liabilities is RM5,438,692,000. What
were the projected FY 2024 total amount (lease) recognised in profit
or loss and amount payment of lease liabilities in cash flow from
financing activities?

Answer:
We anticipate that the total amount of lease expenses recognised in profit or loss and the payments of lease liabilities reflected in the cash flow from financing activities will be closely aligned with our strategic financial plans and operational needs.

As of 1Q24, total lease payment as per cash flow statement is RM726 million and depreciation on ROU and Finance Cost of Lease Liabilities in income statement is RM767 million for operating and non-operating aircrafts.

Know what above mean to depreciation on ROU and Finance Cost of Lease Liabilities in income statement for FY2024 and how will it effect FY2024 profit?

We have assessed the Net Current Liabilities position for the purpose of going concern, and as disclosed in Note 2.1, the going concern of the Group and the Company is dependent on the successful implementation of the Revenue Bond Program, and also the continuous support by the lessors.

Know what external auditor mean on above?