most likely this week Insas quarterly report will be out together with the yearly dividend. Looking forward to another 5 digit or hopefully 6 digit dividend for me.

Mike-tikus Jaks ada kasi dividend?
Jaks most likely after recent PP this time will be RI to reward shareholders.

LARGEST WARRANT B HOLDERS AS AT 24 MARCH 2023
No. of
Names Warrant B (%)
1. Chong Kok Foo 22,464,833 13.10

2. Kenanga Nominees (Tempatan) Sdn Bhd 20,835,842 12.15
Pledged Securities Account for Ang Lam Poah

3. HLB Nominees (Tempatan) Sdn Bhd 10,165,749 5.93
Pledged Securities Account for Loo Kee Seng

4. Public Nominees (Tempatan) Sdn Bhd 8,770,850 5.11
Pledged Securities Account for Ang Lam Poah

5. Phillip Nominees (Tempatan) Sdn Bhd 7,775,240 4.53
Pledged Securities Account for Ang Lam Poah

6. Affin Hwang Nominees (Tempatan) Sdn Bhd 5,641,790 3.29
Pledged Securities Account for Ang Lam Poah

7. Original Invention Sdn Bhd 5,215,100 3.04

8. Er Soon Puay 3,700,500 2.16

9. Koh Seng Poh 3,454,011 2.01

10. Ch’ng Kim Soon 2,479,400 1.45

11. Wilfred Koh Seng Han 2,395,522 1.40

12. Maybank Nominees (Tempatan) Sdn Bhd 2,351,536 1.37
Pledged Securities Account for Ang Lam Poah

1 more week to last trading date on WB 27 Nov 2023.
Insider ALP pledged securities warrent B will turn into toilet paper or can he do something?

Preliminary Operating Statistics
For the 3rd Quarter of 2023
Thailand
AirAsia Thailand Jul-Sep 2023 Jul-Sep 2022 Change
Passengers Carried¹ 4,555,306 2,754,920 65%
Capacity² 5,077,838 3,155,112 61%
Load Factor (%)³ 90 87 2ppt
ASK (mil)⁴ 5,921 2,863 107%
RPK (mil)⁵ 5,219 2,478 111%
Number of stages⁶ 27,868 17,269 61%
Average stage length (km) 1,161 906 28%
Size of fleet at quarter end (aircraft)⁷ 54 58 -4
Operating aircraft at quarter end (aircraft) 46 35 11

Indonesia
AirAsia Indonesia Jul-Sep 2023 Jul-Sep 2022 Change
Passengers Carried¹ 1,774,083 1,068,900 66%
Capacity² 1,999,260 1,308,060 53%
Load Factor (%)³ 89 82 7ppt
ASK (mil)⁴ 2,875 1,621 77%
RPK (mil)⁵ 2,547 1,347 89%
Number of stages⁶ 11,107 7,267 53%
Average stage length (km) 1,438 1,239 16%
Size of fleet at quarter end (aircraft)⁷ 30 24 6
Operating aircraft at quarter end (aircraft) 22 12 10

Philippines
AirAsia Philippines Jul-Sep 2023 Jul-Sep 2022 Change
Passengers Carried¹ 1,641,107 1,219,055 35%
Capacity² 1,782,012 1,376,460 29%
Load Factor (%)³ 92 89 4ppt
ASK (mil)⁴ 1,732 1,005 72%
RPK (mil)⁵ 1,540 873 76%
Number of stages⁶ 9,900 7,647 29%
Average stage length (km) 972 730 33%
Size of fleet at quarter end (aircraft)⁷ 25 24 1
Operating aircraft at quarter end (aircraft) 15 9 6

Malaysia
AirAsia Malaysia Jul-Sep 2023 Jul-Sep 2022 Change
Passengers Carried¹ 6,734,950 4,840,319 39%
Capacity² 7,627,949 5,601,821 36%
Load Factor (%)³ 88 86 2ppt
ASK (mil)⁴ 9,445 5,928 59%
RPK (mil)⁵ 8,244 5,102 62%
Number of stages⁶ 41,440 29,962 38%
Average stage length (km) 1,231 1,043 18%
Size of fleet at quarter end (aircraft)⁷ 102 105 -3
Operating aircraft at quarter end (aircraft) 69 47 22

If Thailand AA and Indonesia AA with load factor of 90% and 89% still lose making. Isn't that tell you something is very wrong with capA' aviation business model?

So will anyone dumb dumb hold capA and average down all the way till suspension and delist like serbadk?

By the way Jaks Q3 will be Q to Q drop and Q4 another Q to Q drop and you do know why.

Aiyoyo Mike-tikus,
I am looking forward to a better dividend from Insas and you are looking toward another RI for Jaks.

Mike-tikus,
AA Thai and AA Indonesia Q3 result already out. Look like another quaterly lose for capA.

Mike-tikus,
No need to repost your gibberish in Insas forum.

https://klse.i3investor.com/blogs/Sslee_blog/2023-11-05-story-h-215950673-INSAS_Questions_for_Insas_61th_AGM.jsp

All are welcome to refer to my upcoming Insas AGM questions to fully understand and agreed with me Insas is grossly undervalued.

With the completion of the securitisation of M&A Securities which Bursa & SC took a long time to grant their approvals. BOD of Insas is now more likely to do something to enhance shareholders value.

Most likely capA Q3 is a lose making quarter.
@geary any prediction on CapA Q3 financial result?

Indonesia airasia:
Laporan laba rugi dan penghasilan
komprehensif lain
30 September 2023

Profit (loss) attributable to parent entity ( 875,420,057,607 )

BANGKOK, 15 November 2023: Asia Aviation Plc, the sole shareholder of Thai AirAsia, announces its operational results for the third quarter of 2023 with total revenue reaching THB9,898.7 million, increasing 102% year-on-year (YoY) while controlling operational costs effectively.

Excluding fuel costs, the company’s cost per unit (CASK ex-fuel) decreased by 33% from the same period last year. EBITDA for the period was positive at THB389.1 million, bouncing from a loss of THB601.3 million the previous year.

Depreciation of the Thai baht towards the end of the quarter resulted in an unrealised loss from exchange rates of THB813.5 million, mostly an accounting loss with no impact on the company’s liquidity. Overall, the company saw a loss in the quarter of THB1,694.7 million, significantly improving from a loss of THB4,050.2 million in the same period last year.

NOTICE TO WARRANT HOLDERS OF THE WARRANTS 2018/2023
in relation to
THE EXPIRY AND FINAL EXERCISE OF THE WARRANTS 2018/2023
STOCK NAME : JAKS-WB
STOCK CODE : 4723WB
IMPORTANT RELEVANT DATES
Last date and time for trading of Warrants 2018/2023 : Monday, 27 November 2023 at 5.00 p.m.
Date and time of suspension of Warrants 2018/2023 : Tuesday, 28 November 2023 at 9.00 a.m.
Last date and time for transfer into depositor’s CDS Account : Wednesday, 6 December 2023 at 4.30 p.m.
Last date and time for exercise of Warrants 2018/2023/ Expiry Date : Wednesday, 13 December 2023 at 5.00 p.m.
Date and time for delisting of Warrants 2018/2023 : Thursday, 14 December 2023 at 9.00 a.m.
This Notice is dated 10 November 2023

BobAxelrod6868 > Nov 16, 2023 1:00 PM | Report Abuse
Probably IDQ aka Foong should beg in a corner for a plane ticket to visit China and open his eyes.......Nobody can open his heart as it is vile and stained with incurable poison.....

No need to visit China. How about visit US and see whether you can survive in the city subway or city park at night without getting yourself killed or robbed.

Gov. Gavin Newsom is on the receiving end of a mountain of criticism after admitting that San Francisco’s speedy clean-up of dirty streets and homeless encampments was timed for the visit of Xi Jinping and other foreign dignitaries for the Asia-Pacific Economic Cooperation summit this week.

The big picture: Many people on social media expressed outrage, criticizing Newsom and the Democratic Party for prioritizing the cleanup for foreign leaders instead of addressing the ongoing homelessness crisis in California.

Critics accused Newsom and other politicians of neglecting the needs of their own citizens and only taking action when foreign dignitaries are in town.
Some pointed out the hypocrisy of spending billions of dollars over the years to address the homelessness crisis, while San Francisco was able to clean up in just 48 hours.
Former Mayor of San Francisco and now Governor of California, Newsom, was specifically targeted for his admission and his policies.
Newsom defended the cleanup efforts, stating that it was part of the ongoing Clean California beautification project and aimed to showcase San Francisco as an extraordinary place for the visiting leaders.
The governor’s office responded to the criticism by stating that the reporting on the event had been misleading and pointed to the success of the Clean California initiative in cleaning up encampments statewide.
What they’re saying: “I know folks are saying, ‘Oh they’re just cleaning up this place because all those fancy leaders are coming to town.’ That’s true, because it’s true,” Newsom said at a Thursday press conference.

“The saddest part of this is that California’s leaders are showing they could clean up their streets – they just choose not to,” Gov. Sarah Huckabee Sanders (R-Ark.) wrote. “Here in Arkansas, we’re cracking down on crime, lowering taxes, and investing in communities. And we’re doing it for Arkansans, not the CCP.”
“How about instead of spending billions and billions over years and years to fight the homeless crisis, we just do what San Francisco did in 48 hours?” consultant and California native Andrew Clark wrote.

The details of the directors’ remuneration for the financial year ended 31 December 2022 are set
out below:
Group
2022 2021
RM: RM
Directors’ remuneration:
- fee 90,000: 90,000
- salary and other emoluments 39,087,000: 26,206,100
- contribution to state plans 6,479,100: 4,501,972
- other personnel costs 8,485: 7,912
Total 45,664,585 : 30,805,984

I follow up with below questions and received no replied from KSL.

I refer to Board answered below on dividend:

EXPLANATION TO THE ABOVE Q1 TO Q8

KSL is currently developing a huge integrated commercial complex with hotel(proposed name KSL Esplanade Mall) in Klang (Annual Report 2018 page 23).

It is under active construction and targeted to be completed in year 2021.

Total estimated capital expenditure for the above complex is approximately RM 500 million.

We need to set aside our reserves for the above projects and working capitals.

Hopefully, it will generate huge income once in full operation and enhance our future earning.

May I ask following questions to the Board of Directors

Question 1: Why the management spend a substantial capital in 2018 into buying below two pieces of land?

Mukim of Pulai vacant free hold Land held for Development 8,208,099 sq ft: Net book value RM 180,674,963. RM 22.0 per sq ft. Date of acquisition: 20.03.2018

Mukim of Tebrau vacant lease hold Land held for Development 5,137,998 sq ft: Net book value RM 134,021,551. RM 26.1 per sq ft. Date of acquisition: 12.03.2018

Question 2: Shouldn’t the board reserve the cash to at least pay some dividend and also for working capital for KSL Esplanade Mall Klang?

Question 3: What is the intent development plan for these two pieces of land and the GDV?

Thank you

Q1: Refer 2018 Cash flow statement, is KSL generated enough free cash
flow to pay a dividend? (Yes/No)

Q2: Is KSL has enough cash reserve to pay a dividend? (Yes/No)

Q3: Any cash flow problem if KSL pay out 4 cents dividend for FY 2018?
(Yes/No)

Refer Chairman’s statement: 2014 Annual report
I am also pleased to announce that the Group has adopted a dividend
policy of distributing 40%of the Group’s annual net profit after tax from operations (excluding any fair value gains) to shareholders in the form of cash dividends or new share issuance under the Dividend
Reinvestment Plan scheme. The dividend policy aims to attract long
term investors and to enable shareholders enjoy higher returns in
tandem with the expanding business.

Q4: What happen to the adopted dividend policy?

Q5: What happen to the promised the dividend policy aims to attract long term investors and to enable shareholders enjoy higher returns in
tandem with the expanding business?

Q6: What are the reasons for financial year end 2016, 2017 and 2018 no
dividend was given?
Refer 2018 Chairman’s statement “The Group’s financial position as at
end-December 2018 was further strengthened with our retained profit
and increased profitability, with shareholders’ equity growing to
RM2,815 million from RM2,600 million in the previous year end”

Q7: Since KSL has a very strong financial position should the board reward the shareholder with reasonable dividend? (Yes/No)

Q8: Without a formal dividend policy KSL market price had dropped into
penny stock (below RM 1.00) level. Should Board consider adopting a
new formal dividend policy to give clarity to investing public that the
BOD/Controlling shareholders interest is aligned with minority
shareholders.

EXPLANATION TO THE ABOVE Q1 TO Q8
KSL is currently developing a huge integrated commercial complex with hotel (proposed name KSL Esplanade Mall) in Klang (Annual Report 2018 page 23).
It is under active construction and targeted to be completed in year 2021.
Total estimated capital expenditure for the above complex is approximately RM 500 million.
We need to set aside our reserves for the above projects and working capitals.
Hopefully, it will generate huge income once in full operation and enhance our future earning.

Q9. I am glad to see KSL group is well managed and run by company
founder three brothers where each taking up a section/area
responsibility for the day-to-day management, decision-making and
operations of the group as compare with other where a single CEO
overall responsible for the day-to-day management, decision-making
and operations of the group. I am bringing out this as I feel the
remuneration is on the high side since each only responsible for a
section/area of the group business.
Hopefully next year this remuneration can be reviewed and any saving is
used to pay a dividend. What is your opinion?

ANSWER
We take note of your proposal.

When KSL replied shareholders 29th KSL AGM questions in such lukewarm way. I just dold all my KSL share and never look back.

Not denying can only mean Mike-tikus actually trapped himself inside Jaks-WB.

Repost:
Nov 14, 2023 3:11 PM | Report Abuse

Sorry typo error.
Insas-WC not insas-WB.
Insas-WB, stockraider bought 1 million at RM 0.005 for 5 thousand and have a narrow escape selling back at RM 0.005 before Insas-WB expired.

Guess what will capA fall to RM 0.XXX just before suspension and delisting?

Stockraider invested RM 5,000 holding 1,000,000 Insas-WB and has a narrow escape manage sold back all the Insas-WB at RM 0.005.

Mike-tikus will not be so lucky holding the Jaks-WB

Liar will alway behave like a liar. When will and for how long more ALP wasted away the goldmine?

Jak-WB will expired as toilet paper. And no wonder someone already camp here start promoting Jaks day and night so many months ago due to trap himself inside Jaks-WB RM 0.005

I refer to you know who? Is it ALP or Mike-tikus still staying in parent house and live off the parent earning?

Is this mean right to left and then left to right and so on?

Posted by TheContrarian > Nov 15, 2023 5:50 PM | Report Abuse
Volume today 45 million shares, free float only 81 million shares.

Mike-tikus,
Your jaks now still got how many digit book gain.
My Jayatiasa another 6 digit book gain.🤑

AirAsia yet to respond to Sarawak's call to reconsider flight suspension

By Bernama | 2023-11-14 20:32:40
SIBU (Nov 14): Air Asia Malaysia chief executive officer Riad Asmat has yet to respond to the Sarawak Transport Ministry’s call to reconsider the company’s plan to suspend Singapore-Miri and Singapore-Sibu flights, effective Feb 21 next year.

Sarawak Transport Minister Datuk Seri Lee Kim Shin said that the letter from his ministry to Asmat, dated Nov 8, also called for the airlines to continue and maintain the two routes with a reduced flight frequency until low load problems are solved in the future.

“Once the load is stabilised and improved in the future, AirAsia may increase the flight frequency for the two routes. Currently, AirAsia is operating four times from Singapore to Miri and three times to Sibu weekly, with an average load capacity of 69% and 67% respectively,” he said in a statement on Tuesday.

The ministry, on Nov 7, received an email from AirAsia stating that the airline will be suspending the two flight sectors, due to low load factors, heavy losses and as part of rationalisation of their fleet operations.

Meanwhile, he said Scoot Pte Ltd, through its chief commercial officer, Calvin Chan, had reaffirmed SCOOT’s Airlines plan to increase flights to Sarawak, particularly Kuching and Miri, as well as starting a new route to Sibu next year.

Lee said that the actual date for the increased flights and route to Sibu could not be ascertained now, pending the arrival of new aircraft, which would most probably be in the second quarter of 2024.

He added that SCOOT is currently flying daily from Singapore to Kuching and three times weekly to Miri since February 2022, and it would be timely for the airline to increase its operations to Miri and Sibu, since both destinations play an important role for business travellers and nature-loving tourists.

“We believe that this initiative will boost tourism and economic activity in Sarawak, where Miri and Sibu have been highlighted as one of the main tourist attractions, with numerous wildlife, pristine rainforest and a harmonious social environment,” he said.

Apart from that, he said Miri would also receive additional flights from Firefly Sdn Bhd, which would operate two flights weekly between Miri and Kota Kinabalu, starting Nov 22.

“We believe that this initiative will be the beginning of stronger relations between Firefly Sdn Bhd and Sarawak, thus boosting air connectivity for business, investment, and tourism ac

Is Mike-tikus also trapped himself in Jaks-WB?

https://www.petron.com/investor-relations/our-disclosures/

Petron corp q3 end 30/9/23 result out:
Peso million
Net income: 3,366
Attributable to:
Equity holders of parent company: 3,102
Non contrlling interest: 264

Since Petron corp hold 73.4% Petronm hence
Petronm income = Peso 264/0.266 =992.48 million
AT 30/9/23 1 RM =12.07 Peso
Q3 net profit= RM992.48/12.07= RM 82.227 million

Ryanair is lucky to cater for EU market where people have less children and can afford to take long leave for leisure travel.

AA cater for SEA/Asean market (many budget airlines to choose from)and many people cannot afford to take long leave for leisure travel hence if you raise the fares most likely AA cannot fill up the planes.

So AA is forced to cut price with mega/super sale just to fill up the planes.

AA/Stony is damned if you do and damned if you don't

Sorry typo error.
Insas-WC not insas-WB.
Insas-WB, stockraider bought 1 million at RM 0.005 for 5 thousand and have a narrow escape selling back at RM 0.005 before Insas-WB expired.

Guess what will capA fall to RM 0.XXX just before suspension and delisting?

INSAS RI is RPS (Insas-PB) expired on Feb 2026 paying 3.8% interest with free warrants. It was issued to redeem the previous RPS Insas-PA that pay 4% interest expired on 2020.

Someone told me the RI is a way to reward shareholders so I subscribe my entitlement with 10% excess. During the last rally of Insas, I sold all my Insas-WB for 6 digits gain.

If you have a useless son like Mike-tikus then even a goldmine won't help as the goldmine will just wasted away.

I trade on petronm. I bought for dividend and after dividend I sold most of my petronm.

Petron corp hold 73.4% of Petronm

Should be good quarter 3 for petronm. When petron corp release it Q3 financial report in next few days then from petron corp Q3 net profit after tax attributed to non controlling shareholders you can work out what is Q3 net profit after tax for Petronm

Sorry I just saw the comment in petronm.
From Petron corp news

Consolidated revenues for the first nine months stood at P587.3 billion albeit lower than the previous year’s P631.1 billion as prices corrected from their extraordinarily elevated levels last year due to the Russia-Ukraine conflict. While international prices started to rise again in the third quarter, the YTD September average of benchmark Dubai crude closed at almost $82 per barrel, still down 18 % from the same period in 2022.

Despite recording lower revenues, the Group’s operating income rose by 64%, reaching P27 billion from 2022’s P16.5 billion driven largely by the strong volume growth. This improvement allowed the company to absorb the more than 50% increase in financing cost, ending the nine-month period with a consolidated net income of P9.5 billion, 16% higher than last year’s P8.2 billion.

https://klse.i3investor.com/blogs/Sslee_blog/2019-12-07-story244757-Patriotism.jsp

Being Chinese

We are proud to have a national language which is Malay, but

*the policy* of
closing English language schools and converting all schools into effectively Malay medium schools, and leaving vernacular schools in existence,

*has led to disunity* among Malaysians,

because our *children are now educated in silos*,
unlike my generation who were educated differently.

*Our diversity* should have been an asset.

Instead, it *is highlighted to divide us*.

Malay was never legally removed as the national language of Singapore, but

*the pragmatic and smart Singaporeans*

encouraged the study of English and Mandarin,

as these two are *the leading languages for commerce and science* in our part of the world.

So, *our nationalists and leaders* have not been very clever.

*They have not managed the issue very well.*

I support *Malay as the national and unifying language*, but

I have only contempt for the politicians who caused us to lose *the advantage we would have had on the world stage with a population that was multilingual*.

I feel sad today in seeing how a section of our Malaysian population is being made to be the bogey for all the failures and weaknesses of another section, the privileged section of the populace.

Yet, against all odds, like the people of Singapore, this bogey section of the population are the owners and drivers of the commercial and industrial engines of this country.

In my humble opinion, it is *our selfish, dishonest, and immoral leaders who are to be blamed for the mess our country is in*,
in this 63rd year of our independence.

Even as our country bleeds from the Covid-19 calamity, our so-called leaders are still *prioritising politics over-focusing on saving the country*, just like the proverbial

*"Nero still playing his fiddle while Rome burns"*.

The Malay proverb,

*“Harapkan pagar, pagar yang memakan padi,”*
is appropriate, in the case of our Malaysia.

So, the question is, what can we do to pull ourselves out of this cesspool we are all in?

For a start,

let us start by *seeing the elephant in the room*.

Let us *openly talk about our issues and our problems*.

To my 75-year-old classmates, I say, let us pause a while in our preparations for the hereafter, and

*try to find a workable solution to this problem confronting our nation*.

If we do not talk about these issues,

*if we are silent, no solutions will be volunteered*.

I know it is difficult for those aboard the gravy train to talk about these things.

But the rest of us who are not, should *make ourselves heard*.

It is too much to expect the BRIM infused and naive rural folks to see the light at this stage,

because for a poor family earning just RM1,000.00 a month,

*a BRIM gift-payment of RM2,000.00 of taxpayer's money*,

is a *powerful incentive to continue voting with their pockets instead of with their heads*.

It brings to mind the story once told about Stalin.

As a lesson to his followers,

Stalin once *ripped all the feathers off a live chicken*.

He then set the chicken on the floor a short distance away.

*The chicken was bloodied and suffering immensely*,

yet, when Stalin *tossed some bits of wheat* towards the bloodied chicken,

*it followed him around whenever he tossed wheat to the chicken*.

Stalin then said to his followers,

*"This is how easy it is to govern naive people* .

*They will follow you, no matter how much pain you cause them,*

*as long as you throw them a little worthless treat, occasionally."*

One of our past and disgraced PM, who championed the policy that

*"Cash is King"*,

probably learned it in England where he had most of his education.

In conclusion, I leave you this little anecdote, lifted from the book Atlas of Shrugged, written by Ayn Rand in 1957, the year we gained independence from Britain.

"When you see that *to produce, you need permission from men who produce nothing*".

"When you see that *money flows to those who deal not in goods, but in favours*."

"When you see that *men get richer by graft and by pull, than by work*.

And your *laws do not protect you from them but protect them from you*."

"When you see *corruption being rewarded*, and
*honesty becoming self-sacrifice*,

you will know that your *society is doomed*".

For a start, this *affirmative action policy* has gone on for far too long.

Although it has helped a lot of Malays, it is *a double-edged sword, which is starting to hurt the Malays more than it helps*.

*It has bred a crutch mentality* among us Malays, to an extent that *initiative and entrepreneurship have atrophied* among the Malays.

We have become risk-averse.

Our people have now *come to believe that they cannot achieve anything without government help*.

Our race has become the object of derision by the more independently successful Chinese..

Let us wean the Malays away from affirmative action.

Let us embrace meritocracy.

We need to taste hard work and some failure, for us to *learn how to walk without needing crutches*.

The affirmative action policy, when it was first mooted after the dark days of the May 13 affair, was *the right thing to do*.

But half a century later, this policy *has bred a cadre of Malay rent-seekers and politicians, who exploit this policy to enrich themselves immorally and illegally*.

In the name of helping the Malays, *government-linked companies (GLCs) and government owned companies (GOCs) have often become instruments to steal and to siphon money from public coffers*.

The *positions of heads of these GLCs and GOCs have systematically been given not to capable and qualified persons, but are rewards* reserved for politicians to entice them to do the bidding of their masters and to leap from one party to another.

In addition, these positions are also dangled in front of many *senior civil servants, to buy their complicity* in nefarious schemes to bleed the country’s coffers.

At the trial of a previous prime minister, we heard how *senior civil servants meekly carried out the orders of the sitting PM, without acting as the check and balance* that they were intended to be.

No doubt they were eyeing titles and cushy positions at GLCs and GOCs after their retirement from the civil service.

I say GOCs and GLCs ought to be privatised.

*The government should only govern*,

and *the private sector should be tasked to do business*.

This will remove the *insidious opportunity for politicians to use the GOCs and GLCs as a political tool*.

The effects of this disease are so entrenched today, that we are now derisively *labelled as the country with the biggest kleptocracy in the entire world*.

One of our past prime ministers has even been convicted of a felony, and yet the *dedak-infused still kiss his hands* and scream,

*"What is there to be ashamed about?"*

whenever he makes his police-escorted rounds.

What has become of these people?

I worked in the oil industry, and I know that
*Norway and Malaysia started developing our oil and gas industry at about the same time*.

In fact, both Norway and Malaysia *have about the same size of hydrocarbon reserves beneath our land and our seas*.

But while Norway managed their bounty carefully, and today *they have one of the world’s largest sovereign funds from oil and gas resources, exceeding one trillion US dollars in value,*

*Malaysia has a sovereign DEBT exceeding RM1.264 trillion*,
including government liability exposure and commitments

I remember 55 years ago, one of our prime ministers booted Singapore out of Malaysia.

I remember clearly watching Lee Kuan Yew crying on the black and white TV after that announcement.

I remember that in the few years after that event, how we got one Singapore dollar at the Caltex station just before the Johor Causeway for only 90 Malaysian cents.

Today, the Malaysian dollar and cents have been renamed ringgit and sen,

but the *Singapore dollar is now worth *3.5 times* our miserable ringgit and sen.

And *Singapore with no natural resources at all*, except

the perseverance,
the will, and
the ingenuity of its people, and
the strategic thinking of their leaders,

is *today one of the wealthiest countries in the world*,

*with a per capita GDP around a dozen times more than ours*.

Let us pause a moment to look straight in the eye at our own country's predicament and to seek solutions to overcome it instead on focusing so heavily on other countries'......

Some leaders to blame for the mess Malaysia is in now, as told this is by 75 year old Yusuf Hashim, former CEO of Shell.

He was from RMC (Royal Military College).

*I am a Malaysian first* and a Malay second.

I pray to God daily, and I believe in the hereafter where all of us *will all be asked to account for what we did or did not do while we were alive*.

But I am not obsessively and destructively religious.

I am unhappy with how *my religion has been hijacked for political purposes*, and I am angry with the people doing it.

I am also angry with the charlatans and titled *people who call themselves our leaders*.

I am unhappy with the creeping Arabisation of my multiracial and multicultural Malaysia.

And I am angry with the *dumbing down of the Malay rural population by politicians* without integrity, without honour, without honesty and without conscience.

Being often labelled as incendiary by my classmates at the Royal Military College, I want to say something in this 63rd year of our independence.

I do not care if you do not like what I am going to say

Most of my classmates are presently in this "waiting to die mode" and have chosen to detach themselves from worldly affairs.

Some will have a slightly longer wait compared to others, but all of us will surely die.

Although on future independence days after our deaths, the sun will still shine, and the birds will still sing, I say to them, *do you not care what will be the state of this country* that you inherited from your fathers, that you will, in turn, *leave behind*?

Of course, you care. You would be lying if you say you did not care

*If you choose silence, and to die without conscience for the state of the country that we are leaving behind for our grandchildren, and their children*, that is your cowardly choice.

I choose to say what I feel, and although alone I cannot do much to change things, I hope by speaking out, enough people will have their conscience pricked, and our numbers may swell enough to outnumber the living dead.

And hopefully, *the enlightened will be large enough in number to make a difference*.

Define fullest.
I need to work part time during LCE, MCE and HSC examination break.

I need to work hard for 12 years just to purchase my first house that cost RM 125,000

And now at my age money is/are just figure/figures in my Bank and hlebroking share and cash account.

Know why I ask question 11 for the coming Insas AGM?

With Equity Attributable to Owners of the Company RM 2,342,233,000 of which retained earnings is RM 1,419,807,000 and of the retained earnings the Net Financial assets is RM 1,418,421,000.

Question 11: Return of Equity (%): FY2023 a poor 5.2% is not the fault of Insas Management Team but mainly due to BOD keep too much retained earnings (Equity keep growing) and hence will BOD kindly rectify the imbalance by distribute portion of the retained earnings to shareholders in the form of special dividend?

Most likely capA if survive will not be able to pay any dividend for next 10 to 15 years.

And by the way capA intangible assets (goodwill, landing rights and internal developed software) is now value at RM 4,699 million which will be subjected to yearly impairment loss.

Note:McDonald’s, Starbucks, Yum! Brands, and Papa John’s return on assets averaged between 15-30% (due to powerful unrecorded intangible assets like brand and supply chain capabilities)

If take out the RM 4,699 million intangible assets from capA book, tgen capA total equity: RM (10,204,687,000 + 4,699,000,000)

So according to geary the more negative equity the merry.

While typically characteristic only of insolvent businesses, negative shareholders’ equity has become more common among healthy, profitable businesses. Many are large restaurant chains, including McDonald’s, Starbucks, Yum! Brands, and Papa John’s. Since none of the above reported negative equity a decade ago, a close study of each company’s financial statements over the period 2010-2019 revealed how these deficits came about. Each company was able to pay out, as dividends and share repurchases, well over 100% of its reported earnings during the period. Interestingly, this is not because earnings understated each company’s cash-generating capability; in fact, there is strong evidence that earnings overstated reality for McDonald’s and Yum! Brands. In general, the primary driver was massive debt issuance, followed by refranchising (selling company-operated restaurants to franchisees). Of the four companies, Starbucks has the highest ability to continue distributing over 100% of earnings, while Yum! Brands does not appear to have much more room to do so.

Each company was able to push equity negative because of the wide spread between its return on assets and cost of liabilities. Each has negative net working capital, which is essentially a cost-free source of funding, and was able to issue massive amounts of debt at low single digits rates. Meanwhile, return on assets averaged between 15-30% (due to powerful unrecorded intangible assets like brand and supply chain capabilities). The extreme case is Yum! Brands, whose debt at the end of 2019 was around twice the level of total recorded assets, yet their interest coverage ratio was a fairly comfortable 4.0x.

There are a few important implications for investors. First, negative equity is characteristic of companies on opposite ends of the business quality spectrum. Secondly, for many companies, metrics involving equity have lost their relevance and should be ignored. Next, issuing debt to repurchase shares can be a great strategy if cost of equity greatly exceeds cost of debt, but it carries substantial risk if done too aggressively (the primary risk being that interest rates are substantially higher in the future). Lastly, businesses that appear overvalued using traditional metrics like price-to-earnings may in fact by greatly undervalued, as is the case for one that can distribute well over 100% of reported earnings for an extended period of time.

If you ask me, do I have regret? I will say if given a chance to start all over, I would like to be a better son, a better brother, a better student, a better engineer, a better subordinate, a better husband, a better father, a better superior and be a better person.

But it did not matter any more as I see my children are that better person that I was not.

The only way for capA to get out of PN17 is to talk to Bankers to arrange a perpetual bond, a bond with no maturity date, therefore allowing it to be treated as equity, not as debt.

But then again at current time the interest of the bond will be high to be attractive for international investors like Mabel to invest in capA perpetual bond.

By the way Serba with Dubai feller also default on its bond.

Repost:

Someone cannot understand i3lurker is trying to make fun of Stony/capA deal/merge with Aetherium Acquisition Corp is figuratively speaking or metaphorically Stony is giving away his Korean wife to Aetherium Acquisition Corp and now has to pay Aetherium Acquisition Corp 40% for using of Aetherium Acquisition Corp wife.

So Mike-tikus aka Johnchew1-5 are you saying Stony shold be awarded with the Best CEO of Topi Hijau Club for his/capA deal with Aetherium Acquisition Corp?? 😉🤣

No worry PAS will be paying on her behalf.

The dividend directly bank into Maybank account and my wife has the card for family monthly expenses.

Repost on Jaks Q3 and Q4 update:
Everyone already know what will happen to Jaks Q3 and Q4 result. Only Mike-tikus aka Johnchew1-5 pretend not to know and trying his best day and night promoting jaks with his TA is improving on RSI and MACD is divergent Up to lurk suiyee sucker bilis to buy high from him.

Since jaks granted 70,500,000 ordinary shares (“LTIP Shares”) SG. Share grant on 10 july 2023 hence RM12.69M of LTIP expenses will only be charged to Q3 2023 under other operating, administrative expenses.
Hence Q3 2023 NP will be Q to Q drop

Based on past 4 years norm jaks Q4 2023 another Q to Q drop due to impairment on trade and other receivables and impairment loss on goodwill.

This is what happen the past 4 years.
12 months end 31/12/22: 12 months end 31/12/21
RM'000: RM'000
Impairment Loss on Goodwill 29,000: 23,636
Allowance for impairment of receivables 22,833: 20,348

12 months end 31/12/20: 12 months end 31/12/19
RM'000: RM'000
Impairment Loss on Goodwill 52,000: 20,365
Allowance for impairment of receivables 69,507: 12,490