So Mabel how many lot you bought at 80 cents?

Mabel Mabel is waiting patiently at 80 sen...
Hopefully some nice Uncles and Aunties will sell today...
Meow
10/01/2024 9:10 AM

In quarter 3 end 30 Sept 2023 capA acquisition of a loss making subsidiary PAA for undisclosed sum and result in gain in Intangible assets RM 3,943 million in the balance sheet but negative billion of non-controlling interests equity transfered to shareholders' equity.

Can PAA compete with Cebu Air in Philippine?

Jan 9, 2024,01:40am EST
Cebu Air—the Philippine budget carrier controlled by Lance Gokongwei and his family’s JG Summit—is in talks to order 150 planes worth about $18 billion from Airbus and Boeing as it seeks to upgrade and expand its fleet amid a post-pandemic travel boom.

Negotiations are ongoing for what would be the single biggest plane purchase by a Philippine airline, Cebu Air said Monday, confirming an earlier report by the Philippine Star. It hopes to place the order within the first half of this year

Repost:
The sky is now crowded with many low cost airlines compare with when Stony just starting the AA. AA is now loaded with debts, accumulated losses RM 10,331 million and the lease payment is now RM700 million and increasing per quarter.

Come 2024 need to pay addition loyalty fees to Brand AA
Brand AA is a brand management company. It is the registered proprietor for all the rights under the AirAsia brand.
Under a master brand licensing agreement dated May 31 this year, Brand AA has the right to collect royalty fees from AirAsia Aviation Group Ltd, Capital A’s aviation division.

2024 will be a survival or bankrupt year for AA or should I say AAX since Stony capA' plan to exit PN17 is to dispose CapA's aviation to AAX.

The sky is now crowded with many low cost airlines compare with when Stony just starting the AA. AA is now loaded with debts, accumulated losses RM 10,331 million and the lease payment is now RM700 million and increasing per quarter.

Come 2024 need to pay addition loyalty fees to Brand AA
Brand AA is a brand management company. It is the registered proprietor for all the rights under the AirAsia brand.
Under a master brand licensing agreement dated May 31 this year, Brand AA has the right to collect royalty fees from AirAsia Aviation Group Ltd, Capital A’s aviation division.

2024 will be a survival or bankrupt year for AA or should I say AAX since Stony capA' plan to exit PN17 is to dispose CapA's aviation to AAX.

For jayatiasa you can estimate what will be quarter end 31 Dec 2023 financial result.

Disclosure On Quarterly Production
JAYA TIASA HOLDINGS BHD
Production figures for current quarter and year to date
Individual Quarter (quarter) Cumulative Period
Current Year Quarter Preceding Year Corresponding Quarter Changes
(Amount / %) Current Year To - Date Preceding Year Corresponding Period Changes
(Amount / %)
31 December 2023 31 December 2022 31 December 2023 31 December 2022
PLANTATION
Crude Palm Oil (MT) 69,092.00
53,154.00
30.00
219,868.00
161,183.00
36.00

Fresh Fruits Bunches (MT) 345,778.00
264,967.00
30.00
1,120,526.00
868,557.00
29.00

Palm Kernel (MT) 16,094.00
12,596.00
28.00
50,969.00
36,561.00
39.00

TIMBER
Log Production Volume (Cubic Metres) 27,582.00
25,273.00
9.00
75,823.00
91,042.00
-17.00

Production figures for current quarter compared with immediate preceding quarter
Current Quarter Immediate Preceding Quarter Changes
(Amount / %)
31 December 2023 30 September 2023
PLANTATION
Crude Palm Oil (MT) 69,092.00
70,529.00
-2.00

Fresh Fruits Bunches (MT) 345,778.00
359,740.00
-4.00

Palm Kernel (MT) 16,094.00
16,674.00
-3.00

TIMBER
Log Production Volume (Cubic Metres) 27,582.00
8,577.00
222.00


Remarks :
This announcement is dated 9 January 2024.

I would love to have KSL if only the three brothers care to pay dividend

I have Insas, OSK, Jayatiasa, Armada and Pantech
Insas and OSK asset play + dividend
Jayatiasa turnaround with dividend
Armada speculative cyclical play for trading to earn my free bintang beer and lobster
Pantech slow growth with dividend

paulthesotong Let ask The Taxi Driver!
09/01/2024 11:31 AM

Why need to ask the driver when you can read the financial report?

THIRD QUARTER REPORT ENDED 30 SEPTEMBER 2023
NOTES TO THE UNAUDITED FINANCIAL STATEMENTS
22. Lease liabilities
The lease liabilities amounting to RM18.9 billion includes deferred aircraft leases of approximately RM2.4 billion. The lease liabilities are supported by ROU assets of RM11.9 billion.

The Group had completed the restructuring of a total of 160 aircraft leases up to the date of this report including the waiver of lease rentals in arrears, as well as reducing future lease rates with a corresponding longer lease term, where necessary, and return of aircraft.

The Taxi Driver has no single plane. All the planes belong to lessors.

When will Dato' Sri Thong learn the lesson: 没有舍 就没有得

I had been fighting to get a better dividend than 2.5 sen to no avail.

OSK already move far ahead

I will take my hat off and salute Stony if Stony can pull out the magic rabbit (getting the below approval) from his magic hat.

The Definite SSPA Will be Subject To:

a. Shareholder approvals for the proposed disposals and other corporate exercise, which may include a proposed distribution-inspecie of part of the consideration shares to the shareholders of Capital A;

b. Approval of RCUIDS Holders;

c. Approval/consent of the relevant authorities, financiers/lenders or any third parties as may be necessary, being obtained by Capital A;

d. The Completion of the Pre-completion Restructuring;

e. The Sanction of the High Court of Malaya;

f. The Approval of the Shareholders of AAX;

g. Such other terms to be negotiated and agreed upon by the parties in the definitive agreement.

Repost:
15-Dec-2023 RESIGNATION Chairman YM TUNKU DATO MAHMOOD FAWZY BIN TUNKU MUHIYIDDIN View Detail
15-Dec-2023 RESIGNATION Director ENCIK AHMAD AL FAROUK BIN AHMAD KAMAL View Detail


When a company is on the brink of insolvency, directors ought to consider different stakeholders such as shareholders, creditors, and employees during the exercise of interest balancing. The Companies Act 2016 (“CA 2016”) codifies a general duty on directors’ conduct of trading in a company close to the point of insolvency and any potential liabilities on that account. In broad terms, ‘insolvent trading’ may also be referred to as ‘wrongful trading’ and ‘fraudulent trading’.

Wrongful Trading
In the CA 2016, an offence of wrongful trading is captured in section 539(3) that:

“…an officer of the company who knowingly was a party to the contracting of a debt had, at the time the debt was contracted, no reasonable or probable ground of expectation, after taking into consideration the other liabilities, if any, of the company at the time, of the company being able to pay the debt, commits an offence…”

Fraudulent Trading
Whereas section 540(1) of the CA 2016 stipulates an offence of fraudulent trading as below:

“If it appears…that any business of the company has been carried on with intent to defraud the creditors of the company or creditors of any other person or for any fraudulent purpose, the Court may declare that any person who was knowingly a party to the carrying on of the business in that manner shall be personally responsible…”

If an offence under section 539(3) has been made out, offenders may be punishable with a maximum imprisonment of 5 years or a maximum fine of RM500,000, or both. Reading together with section 540 of the CA 2016, it is added that the offender may even bear personal liabilities for the payment of the whole or any part of the company’s debt without any limitation of liability upon a court’s declaration


Sslee
3413 posts
Posted by Sslee > Jan 9, 2024 8:07 AM | Report Abuse X

AAX will default on current liabilities if capA liabilities is transfered to AAX.
You need a white knight with deep pocket to save a PN 17 company. And AAX do not has any money.

AAX will be a scapegoat for Stony and all the AAX directors will commit an offend under companies ACtT2016 section 539 and 540.

AAX will default on current liabilities if capA liabilities is transfered to AAX.
You need a white knight with deep pocket to save a PN 17 company. And AAX do not has any money.

AAX will be a scapegoat for Stony and all the AAX directors will commit an offend under companies ACtT2016 section 539 and 540.

15-Dec-2023 RESIGNATION Chairman YM TUNKU DATO MAHMOOD FAWZY BIN TUNKU MUHIYIDDIN View Detail
15-Dec-2023 RESIGNATION Director ENCIK AHMAD AL FAROUK BIN AHMAD KAMAL View Detail


When a company is on the brink of insolvency, directors ought to consider different stakeholders such as shareholders, creditors, and employees during the exercise of interest balancing. The Companies Act 2016 (“CA 2016”) codifies a general duty on directors’ conduct of trading in a company close to the point of insolvency and any potential liabilities on that account. In broad terms, ‘insolvent trading’ may also be referred to as ‘wrongful trading’ and ‘fraudulent trading’.

Wrongful Trading
In the CA 2016, an offence of wrongful trading is captured in section 539(3) that:

“…an officer of the company who knowingly was a party to the contracting of a debt had, at the time the debt was contracted, no reasonable or probable ground of expectation, after taking into consideration the other liabilities, if any, of the company at the time, of the company being able to pay the debt, commits an offence…”

Fraudulent Trading
Whereas section 540(1) of the CA 2016 stipulates an offence of fraudulent trading as below:

“If it appears…that any business of the company has been carried on with intent to defraud the creditors of the company or creditors of any other person or for any fraudulent purpose, the Court may declare that any person who was knowingly a party to the carrying on of the business in that manner shall be personally responsible…”

If an offence under section 539(3) has been made out, offenders may be punishable with a maximum imprisonment of 5 years or a maximum fine of RM500,000, or both. Reading together with section 540 of the CA 2016, it is added that the offender may even bear personal liabilities for the payment of the whole or any part of the company’s debt without any limitation of liability upon a court’s declaration

Who has the capacity and capability to borrow more money capA or AAX?

Stony is passing the buck to AAX to do the dirty job of another round of debts restructure, capital reduction, share consolidation and recapitalisation.

The deal most likely involve all share deal. AAX will pay capA in billion of AAX shares for capA aviation business and capA will distribute AAX shares to capA shareholders.

So who will benefit from this deal AAX or CapA shareholders?

Do you think the lessors, trade creditors, travel agents and etc will agreed to transfer the debts from capA to AAX knowing that the last AAX debts restructure creditors only get 0.5 sen for every ringgit owed?

Ytlpower from below RM 1.00 talk until now RM 3.44 still talking/spanning the same story/nonsense. Waren't you get tired? Or you really have nothing better to do?

AirAsia X Chairman, Dato’ Fam Lee Ee said: “These strategic acquisitions serve as pivotal milestones in AAX's post-PN17 revival strategy, bolstering our financial stability and enhancing our market positioning. The consolidation under the AirAsia brand as a one-listed entity reflects our commitment to capitalise on our regained strength and market confidence to deliver a unified and unparalleled travel experience for our guests and significant value for our shareholders.

“Leveraging the strengths of all airlines under the AirAsia brand, we are poised to create a pure-play entity that propels us forward. The synergy created through these strategic acquisitions represents more than just a financial consolidation; it symbolises our role as a trailblazer in shaping the future of the aviation industry. The future holds immense potential, and we are excited to embark on this transformative journey.”

Do AAX chairman really believe what he said?
How can he increased operational efficiency, and ultimately driving cost savings and enhanced financial performance?
- Addition loyalty fees to capitalA international.
- CapitalA aviation lease payment of RM 700 million and increasing per quarter.
- Commission payment to superApp for selling flight ticket.
- Planes maintenance to ADE
- Accumulated losses of RM 10,331 million in capA balance sheet.

AirAsia X Chairman, Dato’ Fam Lee Ee said: “These strategic acquisitions serve as pivotal milestones in AAX's post-PN17 revival strategy, bolstering our financial stability and enhancing our market positioning. The consolidation under the AirAsia brand as a one-listed entity reflects our commitment to capitalise on our regained strength and market confidence to deliver a unified and unparalleled travel experience for our guests and significant value for our shareholders.

“Leveraging the strengths of all airlines under the AirAsia brand, we are poised to create a pure-play entity that propels us forward. The synergy created through these strategic acquisitions represents more than just a financial consolidation; it symbolises our role as a trailblazer in shaping the future of the aviation industry. The future holds immense potential, and we are excited to embark on this transformative journey.”

Do AAX chairman really believe what he said?
How can he increased operational efficiency, and ultimately driving cost savings and enhanced financial performance?
- Addition loyalty fees to capitalA international.
- CapitalA aviation lease payment of RM 700 million and increasing per quarter.
- Commission payment to superApp for selling flight ticket.
- Planes maintenance to ADE
- Accumulated losses of RM 10,331 million in capA balance sheet.

CapA is abandoning the sinking ship AAB and AAAGL to AAX. Well done But will AAX take the bait hook line and sinker?

CapA is abandoning the sinking ship AAB and AAAGL to AAX. Well done But will AAX take the bait hook line and sinker?

If capA aviation's assests and liabilities transfer to AAX. AAX will be PN 17 company again, loaded with billions in liabilities and need another round of debts restructure, capital reduction and share consolidation.

If capA aviation's assests and liabilities transfer to AAX. AAX will be PN 17 company again, loaded with billions in liabilities and need another round of debts restructure, capital reduction and share consolidation.

AAX is ask to bail out capitalA? Will and can AAX able to do so?

Description CAPITAL A BERHAD ("CAPITAL A" OR THE "COMPANY")

LETTER OF OFFER FOR THE PROPOSED DISPOSAL BY THE COMPANY OF ITS 100% EQUITY INTEREST IN AIRASIA BERHAD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY ("AAB) ("PROPOSED AAB DISPOSAL") AND ITS 100% EQUITY INTEREST IN AIRASIA AVIATION GROUP LIMITED ("AAAGL"), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY ("PROPOSED AAAGL DISPOSAL") TO AIRASIA X BERHAD ("AAX") ("LETTER OF OFFER")
On behalf of the Board of Directors of the Company ("Board"), RHB Investment Bank Berhad wishes to announce that the Company had on 8 January 2024 entered into a non-binding letter of offer with AirAsia X Berhad ("AAX") for the Proposed AAB Disposal and Proposed AAAGL Disposal for a disposal consideration to be agreed upon by the Company and AAX at a later date (collectively "Proposed Aviation Business Disposal"). The Proposed Aviation Business Disposal entails the disposal by the Company of the entire issued share capital of AAB and AAAGL ("Sale Shares") to AAX or its nominated related corporation (as defined under the Companies Act 2016).


The Proposed Aviation Business Disposal is subject to the following:

(i) Capital A and AAX entering into a definitive share sale and purchase agreement for the Proposed Aviation Business Disposal ("Definitive Agreement"), the terms of which is subject to negotiations between Capital A and AAX; and


(ii) The completion of the Definitive Agreement in accordance with the terms of the Definitive Agreement.


Further details of the Letter of Offer and the Proposed Aviation Business Disposal are set out in the attachment below.


This Announcement is dated 8 January 2024.

Please refer attachment below.

Description CAPITAL A BERHAD ("CAPITAL A" OR THE "COMPANY")

LETTER OF OFFER FOR THE PROPOSED DISPOSAL BY THE COMPANY OF ITS 100% EQUITY INTEREST IN AIRASIA BERHAD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY ("AAB) ("PROPOSED AAB DISPOSAL") AND ITS 100% EQUITY INTEREST IN AIRASIA AVIATION GROUP LIMITED ("AAAGL"), A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY ("PROPOSED AAAGL DISPOSAL") TO AIRASIA X BERHAD ("AAX") ("LETTER OF OFFER")
On behalf of the Board of Directors of the Company ("Board"), RHB Investment Bank Berhad wishes to announce that the Company had on 8 January 2024 entered into a non-binding letter of offer with AirAsia X Berhad ("AAX") for the Proposed AAB Disposal and Proposed AAAGL Disposal for a disposal consideration to be agreed upon by the Company and AAX at a later date (collectively "Proposed Aviation Business Disposal"). The Proposed Aviation Business Disposal entails the disposal by the Company of the entire issued share capital of AAB and AAAGL ("Sale Shares") to AAX or its nominated related corporation (as defined under the Companies Act 2016).


The Proposed Aviation Business Disposal is subject to the following:

(i) Capital A and AAX entering into a definitive share sale and purchase agreement for the Proposed Aviation Business Disposal ("Definitive Agreement"), the terms of which is subject to negotiations between Capital A and AAX; and


(ii) The completion of the Definitive Agreement in accordance with the terms of the Definitive Agreement.


Further details of the Letter of Offer and the Proposed Aviation Business Disposal are set out in the attachment below.


This Announcement is dated 8 January 2024.

Please refer attachment below.

12 Jan 2023:
PETALING JAYA: Capital A Bhd CEO Tony Fernandes expects the aviation group to exit the PN17 status, which has been a millstone around its neck, by end of this year.

His expectation is based on optimism of its growth potential this year following a strong rebound in travel demand post-Covid.

The investment holding group that is involved in aviation, logistics, lifestyle and financial services ventures, plans to submit its finalised regularisation plan to Bursa Malaysia as early as February.

“We can be out of PN17, definitely this year, I hope much earlier (than that). All of the consultants are now going through all the work.

Above is what Stony had said on 12 Jan 2023 then and now Jan 2024 paulthesotong " We are looking to start paying dividens again, perhaps on 2026 " Star Biz week page 8.. 6.01.2024
08/01/2024 9:50 AM

You still believe Stony????

Do you know capA in quarter 3 end 30 Sept 2023: Acquisition of a loss making subsidiary PAA result in gain in Intangible assets RM 3,943.0 million in the balance sheet? Isn't that magic!!!

Know why capA keep asking for extension to submit the PN17 regularisation plan???

The simple reason is once the PN17 regularisation plan is submitted and accepted by Bursa SC then within one year time of implementation the shareholder's equity must be minimum positive RM 40 million.

To acheive shareholder's equity positive you need debts restructure, capital reduction (to eliminate accumulated losses), share consolidation and capital injection (issuing of new consolidated share)

So even Bursa SC agree to capA request of extending the submitting of PN17 regularisation plan to 30 June 2024, come end June 2024 capA will still request another extension.

From its Negative Shareholders Equity scenario...Target Price should be around...@1.48...🤓(If positive Equity...@2.28)!?
Dis: Trade at your own Risk!
07/01/2024 9:02 PM

Net current liabialities increase from begining of year RM (8,509,066,000) to as at 30/9/2023 Net current liabilities: RM (12,527,863,000) and Shareholders’ equity from RM (5,725,093,000) to RM (8,427,155,000)

Guess how long will it take to turn shareholder's equity from negative RM (8,427,155,000) to positive????

Jayatiasa.
Just check out monthly data of jayatiasa FFB production and the latest Balance sheet of Jayatiasa.

Nothing will improved untill Stony figure out how to make money flying people.

Is below number not horrible geary?and isn't that number belong to insolvent company?
Net current liabialities increase from begining of year RM (8,509,066,000) to as at 30/9/2023 Net current liabilities: RM (12,527,863,000) and Shareholders’ equity from RM (5,725,093,000) to RM (8,427,155,000)?

Sorry mistaken 2023 news on Sterling V.
No wonder Armada price stangnant, it has been more than one year since FPSO Sterling V successfully hooked up with the buoy mooring system on end Dec 2022

No parachute but life vests underneath the seat in case of water landing.

As shareholders maybe you should ask what had gone wrong and why CapA' NUMBER is horrible?

Net current liabialities increase from begining of year RM (8,509,066,000) to as at 30/9/2023 Net current liabilities: RM (12,527,863,000) and Shareholders’ equity from RM (5,725,093,000) to RM (8,427,155,000)?

Is that a good 9 months for capA?
Will capA not default on the current liabilities in the next 12 months?

As at 31/12/2022 Capital A
Current assets: RM 1,768,954,000
Current liabilities: RM 10,278,023,000
Net current liabilities: RM (8,509,066,000)
Shareholders’ equity RM (5,725,093,000)
Non-controlling interest: RM (3,791,865,000)
Total equity: RM (9,516,958,000)

As at 30/9/2023 Capital A
Current assets: RM 2,072,007,000
Current liabilities: RM 14,599,870,000
Net current liabilities: RM (12,527,863,000)
Shareholders’ equity RM (8,427,155,000)
Non-controlling interest: RM (2,101,925,000)
Total equity: RM (10,529,080,000)

I also wonder why icapital and foreign fund still holding on their capitalA share?
Do they know capitalA is a PN17 and an insolvent company?
Will capA not default on the current liabilities in the next 12 months?

As at 30/9/2023 Capital A
Current assets: RM 2,072,007,000
Current liabilities: RM 14,599,870,000
Net current liabilities: RM (12,527,863,000)
Shareholders’ equity RM (8,427,155,000)
Non-controlling interest: RM (2,101,925,000)
Total equity: RM (10,529,080,000)

And why IBs analyst can't read financial report?
However, on EBITDA basis, it made close to about RM 400 million ++/quarter or about 1.7 billion/year.

People try to dress up financial statements with it.” “We won't buy into companies where someone's talking about EBITDA. If you look at all companies, and split them into companies that use EBITDA as a metric and those that don't, I suspect you'll find a lot more fraud in the former group.

What does Charlie Munger say about EBITDA?
“Every time you hear EBITDA, just substitute it with 'bullsh*t'.

CapA used to own the taxi company and charged regional AA JV very high rental. But alas capA sold the taxi company to pay high dividend to AA shareholders and now Stony had to work his ass/butt off just to pay the rental to taxi company.

Benchmarking capA with SIA is like comparing taxi driver driving a rented car from taxi company and one who is driving and owning the taxi company.

If I am not mistaken the debts restructure involved selling of assets, share consolidation 20 to 1 and issuing of new shares at RM1.00

So untill the debts restructure is done the share price will trade at between 0.04 to 0.06

Is that worth your time here?

Is CapA cash flow positive????
Repost:
Stock: [ICAP]: ICAPITAL.BIZ BHD
Dec 30, 2023 8:06 AM | Report Abuse

However, on EBITDA basis, it made close to about $ 400 million ++/quarter or about 1.7 billion/year

EBITDA pisitive, is it really so???
Do you know 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.

CapA' NUMBER DONT LIE..and it is horrible.

Net current liabialities increase from begining of year
Net current liabilities: RM (8,509,066,000) to as at 30/9/2023
Net current liabilities: RM (12,527,863,000)
Is that a good 9 months for capA?
Will capA not default on the current liabilities in the next 12 months?

As at 31/12/2022 Capital A
Current assets: RM 1,768,954,000
Current liabilities: RM 10,278,023,000
Net current liabilities: RM (8,509,066,000)
Shareholders’ equity RM (5,725,093,000)
Non-controlling interest: RM (3,791,865,000)
Total equity: RM (9,516,958,000)

As at 30/9/2023 Capital A
Current assets: RM 2,072,007,000
Current liabilities: RM 14,599,870,000
Net current liabilities: RM (12,527,863,000)
Shareholders’ equity RM (8,427,155,000)
Non-controlling interest: RM (2,101,925,000)
Total equity: RM (10,529,080,000)

Repost for you to ponder with leases payment of abt RM 700 million and increasing per quarter can capA make any meaningfull profit in 2024?

Quarter end 30/09/23: Cumulative 9 months
RM: RM
Depreciation on right of use assets: (444,404,000): (1,124,591,000)
Finance cost -lease liabilities: (251,274,000): (656,333,000)

CapA is now like a taxi driver, driving a rental car from a taxi company.
How many passengers a taxi driver must picked up to pay for the car rental before he can earned a living?

For capA even last quarter 89% load factor is still a loss making quarter.

02-Jan-2024 Board Member Executive Director Appointment - MISS KU EK MEI on 01-jan-2024
02-Jan-2024 Board Member Executive Director Appointment - MISS KHOO LEE FENG on 01-Jan-2024.

KSL is a profitable company but the 3 Ku/Khoo brothers pay themselve RM10+ million per year and no dividend to shareholders.

Now their daughters are appointed as executive directors and how much KSL will pay them?

If only someone has listen to MrFox to sell his jaks and buy Ytl he would has now laughing all the way to the bank instead of repeating/recycle his outdated promotion material in jaks.

If only KYY talk the talk and walk the walk then he would not have made so many expensive mistakes.

I feel sorry for Stony (the way he sit and body language as arrogant, he can do no wrong and everyone indebted to him for making flight cheap and affordable) and AA employees.

Maybe AA employees should have join Singapore airline.

Wonder will AA employees getting any year end bonus?

By the way dividend received from Inari is more than enough to pay the dividend to Insas sharholders.

No real money gain only accounting gain as 5,000,000 inari shares is transfered from Insas Technology Berhad to M & A Nominee (Asing) Sdn Bhd for Media Lang Limited

Remarks :
Indirect interest:-

(1) Insas Technology Berhad - 409,769,375
(2) Insas Plaza Sdn Bhd - 103,872,700 (No change)
(3) Media Lang Limited - 22,216,500
(4) Montego Assets Limited - 850,000 (No change)
(5) Montego (S) Pte Ltd - 300,000 (No change)