Stock [INARI]: INARI AMERTRON BERHAD
Announcement Date 27-Dec-2023
Reference No CS2-18072022-00070
Substantial Shareholder's Particular:
Name INSAS BERHAD
Details of Changes:
Currency -
Date of Change Type Number of Shares
22-Dec-2023 Disposed 5,000,000
Registered Name Insas Technology Berhad
Nature of Interest Indirect Interest
22-Dec-2023 Acquired 5,000,000
Registered Name M & A Nominee (Asing) Sdn Bhd for Media Lang Limited
Nature of Interest Indirect Interest
Nature of Interest Indirect Interest
Shares Ordinary shares
Reason Acquisition and disposal via Direct Business Transaction
Total no of securities after change
Direct (units) 0
Direct (%) 0.00
Indirect (units) 537,008,575
Indirect (%) 14.33
Total (units) 537,008,575
Total (%) 14.33
Date of Notice 27-Dec-2023

Guess next quarter result how much will insas report on gain on dispisal of shares in an associate company on above transaction ?

I have nothing against buying good stocks and do nothing BUT in Bursa how many stocks can be considered as good stocks?

I am more aggreeable with CharlesT obversation.

Posted by CharlesT > Dec 31, 2023 12:34 PM | Report Abuse
Only for those newbies who after reading few books of WB/Cold Eye etc then wanna aim to be a so called long term value investor....sounds very geng....lol

It shouldn't come fm such a seasoned old snake in the mkt

By the way do nothing is not an option. You have to monitor internal and external factor, the macro and micro economic factor that will impact the forward earning of the company.

Happy new year 2024 KCChong.

Market will always behave irrational and depend on all those international big funds whether they are moving their money from China/HK market to USA.

Otherwise how you explain the share price movement of Tesla compare to BYD.
Fundamentally is Tesla better than BYD???

Charity begins at home. If TTB has done so then icap shareholders will have a happy lot instead of venting their dissatisfied at i3investor.

If price drop and trigger margin force selling on ALP pledged Jaks share then no eye see.

By Feb 2024, if Q4 with impairment loss on receivables and goodwill plus no dividend from JHDP, jaks did not take up the addition 10% JHDP share, lose on LSS4 solar plant and Malaysia operation then most likely price will drop futher.

Posted by CharlesT > Dec 31, 2023 12:32 PM | Report Abuse
As long as u can make money
Long term or short term or daytrade doesn't matter...

You can either go long with Yinson (hoping it will/shall move north someday) or you can do many rounds of trading with Armada to earn free bintang beer and lobster.

The billion dollar question: Will AAX take over capA's aviation?

Are we looking at another round of AAX debts restructure of paying 0.5 cent for every dollar owed, capital reduction and share consolidation 10 to 1?

Capital A’s aviation division already can't make money after paying the lease payment. Now on top of lease payment another loyalty fees payment to Brand AA.

Can CapA's aviation aka taxi driver able to survive?

By the way who gave authority to who to sign master brand licensing agreement dated May 31 this year, so that Brand AA has the right to collect royalty fees from AirAsia Aviation Group Ltd, Capital A’s aviation division?

Capital A International shall be made up of Brand AA Sdn Bhd and Fleet Consolidated Pte Ltd
Both Brand AA and Fleet Consolidated are newly formed subsidiaries and do not have any revenue.

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.

Fleet Consolidated, meanwhile, will primarily be responsible for the procurement and delivery of the requisite aircraft for the aviation group based on the agreed allocation plan.

The proposed deal is to merge CAPI with Aetherium Acquisition Corp (NASDAQ: GMFI), a Special Purpose Acquisition Company (“SPAC”) listed on the Nasdaq stock exchange for an indicative equity value of United States Dollars (“USD”) 1 billion based on an independent valuation of the AirAsia Brand.

https://finance.yahoo.com/news/aetherium-acquisition-corp-receives-additional-133000199.html

Aetherium Acquisition Corp. Receives Additional Staff Determination Letter from Nasdaq
PR Newswire
December 1, 2023·5 min read

CharlesT, I have a good 2023 with 200k+ dividend and a few hundred K trading and capital gain.
By the way I sold my winner too early: Bplant, YTL, YTLpower, Wcehb

Hope 2024 will be another good year.

Wishing all love, luck, happiness, and prosperity – all the best for 2024!

PS: Collecting my favorite trading stock Armada at 49.5 sen yesterday

CharlesT,
How is your year 2023?

By the way no one going to stop you from punting on an insolvent capA.

But for icapital to put investors money on capitalA and called it value investing is aka to the one eye man leading the blind.

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.

If it is so easy to exist PN17 like what Stony put it PN17 is just an accounting issue then why keep asking for extension to submit the PN17 regularisariin plan from Jan 2023 to July 2023 to Oct 2023 to 31th Dec 2023 and now fourth extension to 30 June 2024.

By the way no one going to stop you from punting on an insolvent capA.

I speak the truth, the whole truth, and nothing but the truth so help me god.

Many will be cursing Stony if Bursa SC proceed to suspend capA pending capA appeal.

Did Stony implied capA is too big to fail and Bursa Chairman and CEO should abuse their power in bending the rule and regulation for capA?

So now capA/Stony is above the rule and regulation just because he run a company or paid salaries and Bursa regulator did not run a company or paid salaries?

Should we give more power, the power of above the law to entrepreneurs just because they build and they disrupt and they create ?

Tony Fernandes Tony Fernandes is an Influencer
Chief Executive Officer at Capital A

13h Edited

Many people been forwarding to me. Thank you Saify . Thanks for bringing up Pn 17. Really it’s time Bursa Malaysia changes this and especially the thinking of rhe regulators . PN 17 is from the dark ages and not relevant in this post Covid world and mindsets need to change in the regulatory area. Capital A will come out soon from PN 17 but boy it could have been much easier and less costly. The higher levels of Bursa Chairman and CEO are great and commercial but others …. Not sure they ever run a company or paid salaries. Malaysia needs new level of thinking to develop this great nation . 2024 going to be awesome. M and A for the airline business and some great listings for the Cap A other business.
PS Saif not that crazy hahaha but more power to entrepreneurs . They build and they disrupt and they create .

PS watch my body in 2024. No more body shaming hahahahahha. Thanks to all the media for all the publicity you gave me hehehe. And the motivation to look bett

What is Stony trying to say?

tonyfernandes
Got to love this photo. @airasiasuperapp . Am airasia rode driver giving a ride to @malaysiaairlines Captain. Always thought @flyairasia and @malaysiaairlines should do much more together like we are now with @malaysiaairports but alas have failed. Who knows maybe in 2024 the board and the CEO will see the light . I won’t stop trying as a malaysian to have a win win situation for the country

Posted by StartOfTheBull > Dec 28, 2023 11:42 AM | Report Abuse
Most people can only see the black dot on a white sheet of paper.

@StartOfTheBull are you saying you can see the white dot on a white sheet of paper?

Someone do not understand what below mean on capA financial predicament :

Of the 362, financing is secured for 73 aircraft through Sales and Leaseback (SLB) arrangement with several lessors.

Orderbook of 362 aircraft to be delivered over the next 12 years, beginning 2024. Of the 362, financing is secured for 73 aircraft through Sales and Leaseback (SLB) arrangement with several lessors.

CapA do not know how to make money from flying people.
CapA used to make money from bulk discount from airbus. Charging JV high planes leasing and selling and buying planes for profit.

Now facing with high lease and interest payment Stony is totally lost on how to turn in a profit.

You can always say the glass is half empty or half full.

The_JQuestion u need sslee to post what he post maybe for a year... HAHA !! but tony always defeat him :(( ... some ppl cant give up, just like me nvr give up and price keep going UP . Who is winning :))
28/12/2023 11:06 AM

Is price keep goung up?
52 Weeks Range: 0.61 - 1.12

Market Cap: 3,553 Million
NOSH: 4,255 Million
Avg Volume (4 weeks): 10,600,521
4 Weeks Range: 0.82 - 0.90
4 Weeks Price Volatility (%): 18.75%
52 Weeks Range: 0.61 - 1.12
52 Weeks Price Volatility (%): 44.12%
Average Price Target: 0.80
Price Target Upside/Downside: -0.035

NUMBER DONT LIE... Agreed
But giving the same number, people will interpret the figure and make their own fact based on their vested interest.

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)
It 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.

25.7/964 = 0.02666 0r 2.666%
A profit margin of 2.666% enough for capA to pay lease and interest payment?

AAX clasified customer as creditors and the debts restructure only paid/refund 0.5 sen to every ringgit customers already paid for their cancelled flight.

Capital A seeks RM1.8bil loan to refinance debt, say sources
The loan will be in the form of a revenue bond, with investors to be paid out of ticket sales from 10 AirAsia flight routes.
Bloomberg - 12 Oct 2023, 6:44pm

Know the different between fund raise for business expansion and fund raise to refinance debts to stay afloat? The_JQuestion ...are u new in town or new to the game?

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)

The_JQuestion hello sslee ... u new in town... even multi billion like mah sing fund raise for billions... through loans secured or unsecured...

"Better than best" or "In the land of the blind, the one-eyed man is king"

If free cashflow is positive then do you think capA need to do below fundraising?

Fundraising
- To further drawdown USD78 mil from a loan approved by a regional bank
- Finalising revenue bond, which expect to raise USD200 mil cash
- Exploring financing opportunities for Indonesia AirAsia and Philippine AirAsia
- Plan to list its AirAsia brand royalty business and aircraft leasing unit in the US through Nasdaq-listed special purpose acquisition company Aetherium Acquisition Corp (GMFI) for an indicative valuation of US$1 billion (RM4.65 billion) for the listing exercise

Posted by paulthesotong > Dec 25, 2023 4:01 PM | Report Abuse
Airlines are undervalue,

Is capA undervalued???? Or no value and need to come out with revenue Bond and many more fundraising just to stay afloat?

Fundraising
To further drawdown USD78 mil from a loan approved by a regional bank
Finalising revenue bond, which expect to raise USD200 mil cash
Exploring financing opportunities for Indonesia AirAsia and Philippine AirAsia

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)

Q2 and Q3 aviation loss making.
As at 30/6/2023
Revenue/ASK: Q2 USD 4.22 cents cumulative 6 months USD 4.28 cents
Cost/ASK: Q2 USD 5.01 cents cumulative 6 months USD 4.72 cents
Cost/ASK ex fuel: Q2 USD 3.32 cents cumulative 6 months USD 2.95 cents
Average fuel price USD 104 per barrel

As at 30/9/2023
Revenue/ASK: Q3 USD 4.35 cents cumulative 9 months USD 4.27 cents
Cost/ASK: Q3 USD 5.04 cents cumulative 9 months USD 4.82 cents
Cost/ASK ex fuel: Q3 USD 3.07 cents cumulative 9 months USD 2.97 cents
Average fuel price USD 131 per barrel

Love to hear from IBs analyst what do they think about capA fourth request for extension in submitting the PN17 regularisation plan to 30th June 2024.

By the way will Bursa SC approve the extension this time?

By the way Stony lost AA India to Tata. Close down AA Japan. Forced to bailout his JV partner from AA Philippine. AAV take over AA Thailand. AA Indonesia need capital injection and poker man can't delivered an AA China.

CapA was forced to come up with plans to list its AirAsia brand royalty business and aircraft leasing unit in the US through Nasdaq-listed special purpose acquisition company Aetherium Acquisition Corp (GMFI). The group seeks an indicative valuation of US$1 billion (RM4.65 billion) for the listing exercise.

What has happened in 2023
Capital A only restarted business activities in February 2023 following the reopening of international borders
- Completed negotiating with all creditors, including lessors, Airbus and GE
- 180 planes fixed by October 2023 - 156 operational, 22 in maintenance or on the ground, 2 pending regulatory approval
- All staff are back and trained, ensuring full readiness to operate all aircraft
- Increased stake to 100% in PAA and in progress for IAA
- Started to consolidate TAA in June 2023

Fundraising
To further drawdown USD78 mil from a loan approved by a regional bank
Finalising revenue bond, which expect to raise USD200 mil cash
Exploring financing opportunities for Indonesia AirAsia and Philippine AirAsia

Know how many airlines that have gone out of business?

“The airline industry’s demand for capital ever since that first flight has been insatiable. Investors have poured money into a bottomless pit, attracted by growth when they should have been repelled by it. And I, to my shame, participated in this foolishness when I had Berkshire buy U.S. Air preferred stock in 1989. As the ink was drying on our check, the company went into a tailspin, and before long our preferred dividend was no longer being paid. But we then got very lucky. In one of the recurrent, but always misguided, bursts of optimism for airlines, we were actually able to sell our shares in 1998 for a hefty gain. In the decade following our sale, the company went bankrupt. Twice. To sum up, think of three types of 'savings accounts.' The great one pays an extraordinarily high interest rate that will rise as the years pass. The good one pays an attractive rate of interest that will be earned also on deposits that are added. Finally, the gruesome account both pays an inadequate interest rate and requires you to keep adding money at those disappointing returns.”

https://klse.i3investor.com/blogs/Sslee_blog/2021-11-12-story-h1593811488-AAX_Creditors_Can_AAX_treating_its_customers_as_creditors_and_repay_the.jsp

You can refer above link on AAX class A, B and C creditors?

So do you think CapA creditors will be book dumbass or street dumbass to fall into Stony magic accounting debts restructure like AAX creditors of agreed to only 0.5 cents settlement for every dollar owed?

To put it simply, successfully building ICAP is akin to building a better Malaysia. To Teng Boo, they are synonymous

Another syiok sendiri syndrome.

i3lurker define syiok sendiri or "Fight Aeroplane" a Cantonese term for an uncurable medical condition meaning constant self pleasurization aka masturbation

The very basic requirement to uplift from PN17 is shareholders' equity must be minimum positive RM 40 million.

No default in payment by a listed issuer, its major subsidiary or major associated company and
The listed issuer is able to provide a solvency declaration to the Exchange

So can capA not default on it current liabilities in the nest 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)

Jaks is welcome to approach Insas leasing and credit for financing to take up addition 10% JHDP.

Posted by geary > Dec 23, 2023 12:04 AM | Report Abuse
Shares in Capital A settled half a sen or 0.59% higher at 85 sen, giving the group a market capitalisation of RM3.62 billion!
Ho...Ho...Ho...Hosaliao...🤓
Sslee...How!?
Bursa SC will agreed or Not...🤔
Little Bull Run on the way...next week...no more sideways...🐂
🙏🤠

Even given another 6 months what can Stony do to improve the balance sheet?

Stony can only borrow more money, taking in more advance sales and his unworkable out of this world cash call (Capital A plans to list its AirAsia brand royalty business and aircraft leasing unit in the US through Nasdaq-listed special purpose acquisition company Aetherium Acquisition Corp (GMFI). The group seeks an indicative valuation of US$1 billion (RM4.65 billion) for the listing exercise) just for not default on the Net current liabilities of RM (12,527,863,000) 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)

Anyway I wish all a Merry Christmas and a Happy New Year 2024 filled with health, wealth, and joy.

CapA at 85 sen is to trap many suiyee sucker billis and Warren meow meow.

J Tiasa as at Q1 end 30 Sep 3023
RM'000
Cash and cash equivalents: 201,202
Current Liabilities
Loans and borrowings 56,310
Non-current Liabilities -
Loans and borrowings 264,137

Operating cash flows before working capital changes 133,667
Just need another 2 good quarters to clear all the borrowings

J Tiasa > 90 because JTiasa start to pay dividend after pare down the borrowing.

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.

So many Warren wannabe in i3.

Why invest in PN17 company that had ask and granted extension to submit the PN17 regularisation plan from Jan 23 to July 23 to Oct 23 and now to 31th Dec 23?

Will Warren invest in this type of company?

What will happen if capA fail to submit the PN17 regularisation plan by or on 31th Dec 23vand Bursa proceed to suspend capA pending appeal of delisting?

KUALA LUMPUR: Singaporeans topped the list of 26 million tourist arrivals to Malaysia, according to the Immigration Department’s latest statistics recorded from Jan 1 to Nov 15, 2023.

According to statistics released, the most number of tourists were from Singapore at 12,645,364 tourists, followed by Indonesia (3,166,295), Thailand (2,073,162), China (1,407,471), Brunei (904,841), and India (780,532) while the rest are from other countries.

My comment will Singaporeons take an AA flight from Singapore to Johor Baru just to avoid traffic jam?

Countdown to a new year. Mana capA punya PN17 regularisation plan?

So becareful of what you wish for. Your wish might come true.