https://klse1.i3investor.com/blogs/Sslee_blog/2023-09-09-story-h-240142117-CapitalA_Follow_up_email_on_increase_effective_stake_from_40_to_100_in_.jsp
For your weekend reading and thinking

AAX pre debts restructure, AAX owed capitalA how much?

Impairment losses from AirAsia X and Thai AirAsia X (both are related parties) totalling RM313.2 million and RM227.7 million respectively were recognised in 2020 and 2021. The amounts were pertaining to the former’s debt restructuring exercise and the latter’s proposed rehabilitation plan.

CapitalA as at 30/6/2023
Lease liabilities
The lease liabilities amounting to RM19.7 billion includes deferred aircraft leases of approximately RM2.7 billion. The lease liabilities are supported by ROU assets of RM12.4billion.
The Group had completed the restructuring of a total of 157 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.

Malaysia has ratified the Capetown Convention and has incorporated it into domestic law via the International Interests in Mobile Equipment (Aircraft) Act 2006. This gives some comfort to lessors, particularly those who are entering the Malaysian market for the first time.

The Impact of Recent Court Decisions

The Cape Town Convention, previously untested in Malaysian courts, was recently invoked during the proceedings related to AirAsia X’s Scheme of Arrangement. The court established that this scheme constitutes an “insolvency-related event” under Article XI of the Protocol of the Cape Town Convention. This conclusion was based on the following factors: (i) the scheme was formulated in the context of an insolvency procedure; (ii) the scheme was also a collective arrangement in that it was “concluded on behalf of creditors generally or such classes of creditors as collectively represent a substantial part of the indebtedness”; and (iii) the court’s approval was required for its implementation.

The court concluded that in the event the debtor chooses not to terminate the agreement when an insolvency-related event has occurred or the creditor does not exercise its right to repossess the aircraft, the obligations under the agreement, including the obligations to pay the rentals, can only be modified by the debtor with the creditor’s consent. However, the court then went on to state that the proposed scheme, or rather the AirAsia X proposed haircut, was merely seeking to compromise the lessors’ claims for damages (and not attempting to modify the terms of the lease) and in this instance, AirAsia X did not therefore require the consent of the lessors in respect of the proposed haircut on the lessors’ claims.

The court’s decision, namely that the scheme was an insolvency-related event under the Cape Town Convention, is the key point for lessors moving forward. This presumably provides a more definitive trigger for Events of Default, offering greater certainty for lessors concerned about a potentially troubled airline. It is also noteworthy that AirAsia X voluntarily offered to return any aircraft that lessors wished to repossess, guaranteeing that it would not resist terminating those leases. Ultimately, there were no forcible repossessions in relation to any of the AirAsia X aircraft, nor have there been any forcible repossessions of aircraft in Malaysia in recent history. It appears that both lessees and lessors prefer to come to an amicable solution, even when a lessor may already have secured the necessary court orders.

However, on 6 December, Capital A announced and clarified that “the proposed plan is not a merger of AirAsia Berhad and AirAsia X, but a potential disposal of Capital A’s aviation assets to AirAsia X, in order to form a separate publicly-quoted aviation group comprising six airlines – four short-haul Asean airlines and two medium-haul airlines, namely AirAsia Berhad, Thai AirAsia, AirAsia Indonesia, AirAsia Philippines, AirAsia X and Thai AirAsia X. However, the Company also wishes to clarify that the plan remains a work in progress, and will be subject to multiple approvals including by the Company’s Board of Directors, shareholders, and Bursa Malaysia Securities Berhad.”

Lessors and financiers will also have to consider what happens to the guarantees that Capital A has issued to guarantee the various obligations of AirAsia as well as of the other airlines in the AirAsia group. Leases and facility agreements that typically contain covenants in relation to changes of shareholding may mean that such a restructuring will be subject to the consent of lessors and financiers too.

As of now, the Malaysian aviation market and the industry await to see if the acquisition and/or merger between AirAsia X and the aviation business of Capital A, will indeed materialise.

Good morning i3lurker,
Japanese is such a nice people, no refund and they still bow down to you and say thank you.
AirAsia Japan was shut down in 2020.

Indians are so sneaky and like their bollywood dance so much till you either go to jail or company’s stake in AirAsia India was recently sold

Thai love their stock market: A gain of RM1.37 billion from the remeasurement of an associate to subsidiary, Asia Aviation Public Company Ltd Group (AAV) holder of Thai air asia.

Philippines advance sales a problem, many people there own AK47 guns and mafia boss macai can just make you disappear overnight so no choice company paid undisclose sum to buy back the 60% PAA non-controlling interest.

2022
IAA: PAA
RM’000 : RM’000
Non-current assets 1,409,615 : 709,801
Current assets 116,294 : 357,236
Non-current liabilities (1,992,676) : (1,021,560)
Current liabilities (1,458,377): (3,100,251)
Net liabilities (1,925,144): (3,054,775)

Name of entity Country of incorporation
Group’s effective equity interest
2022 %
PT Indonesia AirAsia (“IAA”) Indonesia 47.43
Philippines Airasia Inc. (“PAA”) Philippines 40.00

Indonesians and Malaysians abang-adik like sslee very easy to bully one 🤣

Posted by i3lurker > Sep 8, 2023 9:15 PM | Report Abuse
advance sales in Malaysia no problem
only Philippines advance sales a problem, many people there own AK47 guns
only Thailand advance sales a problem, many people there own AK47 guns
just use Bolehland money to refund Thais and Pinoys
Bolehland people like sslee very easy to bully one 🤣

Question 2: 2Q2023 Current liabilities RM 14,208,631,000, current assets RM 2,269,900,000, net current liabilities RM (11,938,731,000), what is CapitalA plan funding in the next 12 months to meet the obligation of net current liabilities of RM (11,938,731,000)?

Mabel,
Fortunately, AA after all the cash payments to repair cost, interest expenses, and overhead, the cash flow from business operation is sufficient for LEASE payment of 1b and not to forget RM 2 billion advance sales ticket (which will turn into revenue within 12 months).

Did Mabel understand that CapitalA already pocket in RM 2.024 billion advance sales and CapitalA Deposits, bank and cash balances only leave with : RM 735,003,000, so where did the RM 1.289 billion gone to?

These are questions I put forward to TA analyst.

Question 5: What do you mean/where do you get the information operating cash flow inflow was stable at RM484.9mn, boosting the group’s total cash to RM735mn as at June-23?
As at 31/12/2022
Deposits, bank and cash balances: RM 469,985,000
Sales in advance: RM 1,428,011,000
As at 31/3/2023
Deposits, bank and cash balances: RM 589,594,000
Sales in advance: RM 1,546,450,000
As at 30/6/2023
Deposits, bank and cash balances: RM 735,003,000
Sales in advance: RM 2,024,943,000

Question 6: As at 30/6/2023: Deposits, bank and cash balances: RM 735,003,000. Sales in advance: RM 2,024,943,000. May I ask, using the advance sales/future revenue for current working capital how will that affect the future cash flow?

Any sane man reading Johny half past six lapsat TA and FA comments will soon go unsane.
I wonder is Johny promoting or demoting Jaks? Is he a friend or an enemy of Jaks?

Jaks holders must be cursing their luck, if you have friend like Johny who needs enemies.

geary CAPITALA/AirAsia X
have reported a surge in net profit, driven by an increase in seat capacity and the return of more widebody Airbus A330s to service. The airline's seat capacity has increased by 19 n 25 times year-on-year, in the second quarter of 2023.
Sales probably will increase, by 20% in sync with more seats capacities.
From now to 2024, March, a discounted 20% on all flights in Capitala.
The past few months of increased demand lead to surge in net margin above #35%.
Roughly the next two quarters of 20% increase in Sales n lower net margin of 15%.
As net estimated earnings will be around 2.2B/2.4B, FY2023.
Trade at your own risk 👍
07/09/2023 6:33 PM

@geary,
Mind telling from where or from which IBs analyst you get the information "As net estimated earnings will be around 2.2B/2.4B, FY2023." Or is this another pluck a figure out of the air?

TA analyst:
Stripping off a remeasurement gain of RM1.4bn and other exceptional items, Capital A’s 1H23 results returned to losses of RM82.8mn.

KENANGA analyst
It reported a core net loss of RM112m in 1HFY23, against our full-year net profit forecast of RM201m and the full-year consensus net profit estimate of RM242m. However, we consider the results within expectations as we expect earnings momentum to escalate in 2H as air travel continues to normalise.

Posted by hakimrich94 > Sep 7, 2023 6:27 PM | Report Abuse
SSLEE, where you get the info bursa requirement to uplifted Aax but with condition no aviation injection from capital a ?

If AAX take over CapitalA aviation with billion in liabilities and accumulated loss then AAX shareholders' equity should or will trigger
PN17 Prescribed Criteria

Practice Note 17:
​(a) ​the shareholders' equity of the listed issuer on a consolidated basis is 25% or less of the issued and paid-up capital (excluding treasury shares) of the listed issuer and such shareholders' equity is less than RM40 million;

The PN17 regularisation plan must be in complying with the requirements under paragraph 5.4 above, the PN17 Issuer and its Principal Adviser must demonstrate to the satisfaction of the Exchange, the following:
​(a) ​the regularisation plan is able to strengthen the financial position of the PN17 Issuer including its securities holders’ equity, gearing, net asset position, cash flow position, and address its accumulated losses position;
​ ​(b)​ ​the steps taken or proposed to be taken are comprehensive and capable of addressing the issues that had caused the PN17 Issuer to trigger the Prescribed Criteria, such that the PN17 Issuer will –
​​ ​(i) ​no longer trigger ANY of the Prescribed Criteria upon implementation of the regularisation plan; and
​ ​​​(ii) ​not trigger ANY of the Prescribed Criteria in the near future;

The most Bursa can help CapitalA is suspension but remain listing status untill CapitalA balance sheet fulfill the lifting of PN17 to uplift the PN17 and suspension.

Time is not in CapitalA side.
If MAS can prosper as unlist company perhaps CapitalA can also do so as an unlist company.

(a) ​All agreements to be entered into with third parties as part of the regularization plan have been duly executed by all parties to such agreements; and
​(b) where the regularization plan involves a compromise or arrangement with the PN17 Issuer's creditors, the PN17 Issuer has taken reasonable steps to procure the agreement-in-principle of such creditors.

CapitalA creditors will never agree to compromise in switching the debts from CapitalA to AAX.

i3lurker Personally I dun see anything wrong in AAX issue 5 Billion shares to pay for Assets worth RM0.00 from CapA
its always willing buyer willing seller
so AAX Goodwill = RM10 Billion
so AAX net liabilities = RM10 Billion

likely AAX wil be insolvent in less than 12 months.
Giving a fake Solvency Test to BURSA is not a criminal offense.
everything is honky tonk

Post removed.Why?

Fernandes argued that the group’s PN17 status remains “an accounting issue” and does not accurately reflect the business viability and prospects of Capital A.

Bursa will tell Stony to fly kite and just show me the account to qualify for PN17 uplift.

Again my question put forward to TA analyst on regularisation plan to uplift PN17:

Question 3: Below are conditions to uplift the company from PN17, has capitalA done anything at all to comply with below conditions to uplift the company from PN17?

The PN17 regularisation plan must be in complying with the requirements under paragraph 5.4 above, the PN17 Issuer and its Principal Adviser must demonstrate to the satisfaction of the Exchange, the following:
​(a) ​the regularisation plan is able to strengthen the financial position of the PN17 Issuer including its securities holders’ equity, gearing, net asset position, cash flow position, and address its accumulated losses position;
​ ​(b)​ ​the steps taken or proposed to be taken are comprehensive and capable of addressing the issues that had caused the PN17 Issuer to trigger the Prescribed Criteria, such that the PN17 Issuer will –
​​ ​(i) ​no longer trigger ANY of the Prescribed Criteria upon implementation of the regularisation plan; and
​ ​​​(ii) ​not trigger ANY of the Prescribed Criteria in the near future;

Event that trigger PN17:
2.1​ Pursuant to paragraphs 8.04(2) of the Listing Requirements, where a listed issuer triggers any one or more of the following Prescribed Criteria it must comply with the provisions of paragraph 8.04 and this Practice Note:
​(a) ​the shareholders' equity of the listed issuer on a consolidated basis is 25% or less of the issued and paid-up capital (excluding treasury shares) of the listed issuer and such shareholders' equity is less than RM40 million;
​ (b) receivers or managers have been appointed over the asset of the listed issuer, its subsidiary or associated company which asset accounts for at least 50% of the total assets employed of the listed issuer on a consolidated basis;
​​(c) a winding up of a listed issuer's subsidiary or associated company which accounts for at least 50% of the total assets employed of the listed issuer on a consolidated basis;
​​(d)​ ​the auditors have expressed an adverse or disclaimer opinion in the listed issuer's latest audited financial statements;
​ ​​(e) ​the auditors have expressed an emphasis of matter on the listed issuer's ability to continue as a going concern in the listed issuer's latest audited financial statements and the shareholders' equity of the listed issuer on a consolidated basis is 50% or less of the issued and paid-up capital (excluding treasury shares) of the listed issuer; or
​ ​(f) a default in payment by a listed issuer, its major subsidiary or major associated company, as the case may be, as announced by a listed issuer pursuant to paragraph 9.19A of the Listing Requirements and the listed issuer is unable to provide a solvency declaration to the Exchange

Do not blame government:
AAX and MAS done the debts restructure to start aflesh.

CapitalA current predicament is Stony own doing.

CapitalA fail the Bursa list company capital requirement needed to be uplift from PN17 and continue listing in Bursa. Hence suspension and delist from Bursa is inevitable.

CapitalA still can carry on the business as unlisted company. And later list some of the sunsidiary companies to raise capital for capitalA

By the way is SIA or CapitalA a PN17 company?

I3lurker had done the study and conclude: Airasia never make or do not know how to make money from flying passagers. The past precovid profit is from booking, buying planes in big numbers and sold them for profit.

This is his fact and I do agree with him.

Whether you are a scammer, trader, investor, speculator or newbie just beware:
If CapitalA fail to submit PN17 regularisation plan on or before 7 Oct 2023 deadline, Bursa can either allow the third extension or reject the request for extension and proceed to suspend and delist CapitalA from Bursa.

StartOfTheBull @SSLee
I don't think scammer trader or not is not up to us to judge.
How many readers here can raise their hands to indicate that they are not one of the speculators in share market?
07/09/2023 1:40 PM

You only got the same set of figure/data but it depend on how people interpret the figure/data to suit their own narrative or fact.

That is why there is a saying “Figures don't lie, but liars figure”

Know what happen Q2 EPS 27.5 sen. NAPS: RM negative 2.01
Whereas Q1 EPS: 1.4 sen. NAPS: RM negative 1.33

And this is the question I put forward to CapitalA IR on submitting PN17 regularisation plan:

Question 6: Looking at the dire situation of CapitalA balance sheet, is “Revised official submission deadline to October 2023, aim to execute the plan in 4Q23/1Q24” achievable or another request of extension in the making?
2Q2023
Capital and reserves:
Share capital: RM 8,659,652,000
Merger deficit: RM (5,507,594,000)
Other reserves: RM 266,894,000
Foreign exchange reserve: RM (1,657,962,000)
Accumulated losses: RM (10,151,810,000)
Equity:
Owner of the company: RM (8,390,820,000)
Non-controlling interest: RM (1,813,867,000)
Total equity RM (10,204,687,000)
(a) the regularisation plan is able to strengthen the financial position of the PN17 Issuer including its securities holders’ equity, gearing, net asset position, cash flow position, and address its accumulated losses position.

These are questions I put forward to TA analyst on operating cashflow:
Question 5: What do you mean/where do you get the information operating cash flow inflow was stable at RM484.9mn, boosting the group’s total cash to RM735mn as at June-23?
As at 31/12/2022
Deposits, bank and cash balances: RM 469,985,000
Sales in advance: RM 1,428,011,000
As at 31/3/2023
Deposits, bank and cash balances: RM 589,594,000
Sales in advance: RM 1,546,450,000
As at 30/6/2023
Deposits, bank and cash balances: RM 735,003,000
Sales in advance: RM 2,024,943,000

Question 6: As at 30/6/2023: Deposits, bank and cash balances: RM 735,003,000. Sales in advance: RM 2,024,943,000. May I ask, using the advance sales/future revenue for current working capital how will that affect the future cash flow?

And this is the question I put forward to CapitalA IR on EBITDA and operating cash flow:
Question 1: Why only present the positive; Group (“EBITDA”) of RM462 million in 2Q2023 and Group operating cash flow over RM1 billion to general investing public and IBs analyst but omitting to state that 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.

2Q2023:
Depreciation of right of use assets: RM (354,185,000)
Finance costs-lease liabilities: RM (235,975,000)

Cash flows from financing activities:
Proceeds from borrowings: RM 130,989,000
Repayment of borrowing and lease liabilities: RM (1,107,380,000)
Acquisition on non-controlling interests: RM (52,061,000)
Net cash used in financing activities: RM (1,028,452,000)

This is the question I put forward to TA analyst:
Question 7: 2Q2023 Current liabilities RM 14,208,631,000, current assets RM 2,269,900,000 thus net current liabilities RM (11,938,731,000), do you consider CapitalA is an insolvent company?

And this is the question I put forward to CapitalA IR
Question 2: 2Q2023 Current liabilities RM 14,208,631,000, current assets RM 2,269,900,000, net current liabilities RM (11,938,731,000), what is CapitalA plan funding in the next 12 months to meet the obligation of net current liabilities of RM (11,938,731,000)?

Creditors demand payment for every debts with interest because according to geary CapitalA is doing very well.

Posted by geary > Sep 7, 2023 11:37 AM | Report Abuse
CAPITALA: Hold/Optimistic!?
Nov. '93; Nov. 2023!?
Highest Quarter Profit since '93!?
Forward 2Q, FY'23: Highest Sales/Profit for the past #30 years!?
Past FA, just a reference n irrelevant, or trash anyway!?
Every businesses economic is dynamic, not fixed.
Only financial institutions not much volatility!?
Average Forward EPS: >@0.50!?
Trade at your own risk!?

I am only confident Jaks coming Q3 and Q4 result will be bad.

As on the share price, short term is a voting machine. That is why scammers campaign so hard day and night to con your vote.

Post removed.Why?

You should short CapitalA because if CapitalA fail to submit PN17 regularisation plan on or before 7 Oct deadline, Bursa can either allow the third extension or reject the request for extension and proceed to suspend and delist CapitalA from Bursa.

Fact check:
AAX survive because of Debts restructure (pay just 0.5% of debts owed), capital reduction and 10 to 1 consolidation.

Do you think CapitalA can survive as a listing company without a debts restructure?

Anyway already too late for debts restructure as creditors are smart now to demand payment for every debts with interest.

CapitalA suspension and delist from bursa is inevitable. But you still can be a shareholders of unlisted CapitalA and do the Bollywood dance with Stony during yearly private AGM meeting.

Repost for Johny fact check:

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 and Y to Y drop

Based on past 4 years norm jaks Q4 2023 another Q to Q and Y to Y 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

Since when a car rental business in Singapore is profitable?

Someone must be smart to dispose capitalA for disposal gain before Covid-19 strike. Only pdumb dumb hold icapital TTB still holding capitalA before covid-19 untill now. Most likely TTB will still dumb dumb hold capitalA till suspension and delist.

Is that sooooooo stupiiiiiiid someone cannot read nor understand what I posted on:
M&A Securities SDN BHD financial highlight: A 100% holding of Insas before RTO of SYF.

FYE 30 June
2019 2020 2021 2022
RM’000 RM’000 RM’000 RM’000
Revenue 26,314 36,978 68,906 48,541
Other items of income
15,791 18,646 33,291 28,900
Items of expense (33,353) (42,855) (77,420) (54,632)
PBT 8,752 12,769 24,777 22,809
PAT 6,552 9,172 18,764 17,916

Can anyone understand english kindly explain to sooooo stupiiiiiid why staff expense increase in 2021?

Posted by Johnchew5 > Sep 7, 2023 5:44 AM | Report Abuse
Hoho Konartist sslleee , why Insaf Staff Expenses is increased Over RM 20 million on 2021 compared to 2020 ? After the RI issued n get money from shareholders??


FYE 30 June
2019 2020 2021 2022
RM’000 RM’000 RM’000 RM’000
Revenue 26,314 36,978 68,906 48,541
Items of expense (33,353) (42,855) (77,420) (54,632)

Post removed.Why?

Repost:
去年同期脱售联号公司所有股权录得1亿3130万令吉一次性收益，托高了对比基数
One-off exceptional gain on deemed disposal of equity interest in associate companies of RM 131.3 million.

Do anyone know what is deemed disposal?

Associated co - Inari completed private placement of 10% share at RM 3.10, way above its NTA per share, & insas needs to account for its equity accounting (Inari) share of share capital/reserve increase of RM 131.3 million, purely accounting treatment in compliance with FRS. Non cash flow but increase in assets.

Balance sheet the non current asset associate companies value increase by RM 131.3 million

Insas still hold 537,008,575 inari share (associate company) and
1,215,718,665 M&A an effective holding of 60.83% subsidiary company of Insas.

Know what is the market value of 537,008,575 inari share and 1,215,718,665 M&A share?

M&A Securities SDN BHD financial highlight: A 100% holding of Insas before RTO of SYF.

FYE 30 June
2019 2020 2021 2022
RM’000 RM’000 RM’000 RM’000
Revenue 26,314 36,978 68,906 48,541
Other items of income
15,791 18,646 33,291 28,900
Items of expense (33,353) (42,855) (77,420) (54,632)
PBT 8,752 12,769 24,777 22,809
PAT 6,552 9,172 18,764 17,916

RI of Insas-PB with free Insas-WC is a way to reward shareholders. You can either sell your entitlement or subscribe for the RI
I subscribe for my RI entitlement with 10% excess application and later sold the WC for a 6 digit gain.

Someone is very jeleous I make 6 digit gain from the WC.
Recently bought back some WC because history will repeat again. In the past someone promote PA, and WC rocket pass PA. Now that someone day and night promote Jaks hence WC will/shall rocket pass Jaks soon.

Thank for pointing out the 80 sen share price alrdy adjusted for bonus issue n stock split.
Q1 EPS: 0.31 sen
Q2 EPS: 1.35 sen
Q3 EPS: 1.07 sen

Market Cap: 89 Million
NOSH: 433 Million
Avg Volume (4 weeks): 5,500,752
4 Weeks Range: 0.185 - 0.225
4 Weeks Price Volatility (%): 50.00%
52 Weeks Range: 0.09 - 0.23
52 Weeks Price Volatility (%): 82.14%

Perhap before bonus issue n stock split the NOSH is small hence more easy to goreng.

2022
IAA: PAA
RM’000 : RM’000
Non-current assets 1,409,615 : 709,801
Current assets 116,294 : 357,236
Non-current liabilities (1,992,676) : (1,021,560)
Current liabilities (1,458,377): (3,100,251)
Net liabilities (1,925,144): (3,054,775)

Name of entity Country of incorporation
Group’s effective
equity interest
2022 %
PT Indonesia AirAsia (“IAA”) Indonesia 47.43
Philippines Airasia Inc. (“PAA”) Philippines 40.00

Any good reason/reasons why CapitalA increase the equity holding of PAA with net liabilities of RM (3,054,775,000) as at 31/12/2022 from 40% to 100% in Q2 2023?

I based on past 4 years norm to write something abt the future jaks Q4 2023
This is what happen the past two 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


StartOfTheBull Kon Lee you are writing something about the future which you are unsure of.
Sslee
2,438 posts
Posted by Sslee > 8 minutes ago | Report Abuse
Q4 2023 another Q to Q and Y to Y drop due to impairment losses on trade and other receivables and impairment of goodwill.

Q4 2023 another Q to Q and Y to Y drop due to impairment losses on trade and other receivables and impairment of goodwill.

Since company 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 and Y to Y drop.

Please allow me to make correction.
Company 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 under other operating, administrative expenses

Bruce_Wayne Why then is other operating, administrative expenses so high at RM13.077M in Q2 2023?
When average employee salaries & wages per quarter is only RM3.22M!

Answer is:
--->>> RM12.69M worth of shares were given for FREE to Ang Lam Pah and charged to operating, administrative expenses.

Please remember this fact in 'Key Matters Discussed'
Long Term Incentive Plan (“LTIP”) On 10 July 2023, the Company granted 70,500,000 ordinary shares (“LTIP Shares”) under the Restricted Share Plan (“RSP”) of the Company’s Long-Term Incentive Plan (“LTIP”) to eligible directors and employees of the Group.

Post removed.Why?

Posted by OnTime > Sep 6, 2023 12:59 PM | Report Abuse
good reminder that life is short and impermanent.

Hence please leave the world a better place than you found it.

Did godofinvesting know about SASBADI stock split and bonus issue before he write:
In 2016, share price was hovering around 80 sen. Current share price is 20 sen. A difference of 4 times or 300%.
- Will SASBADI head back to its 80 sen share price levels and beyond?

https://klse.i3investor.com/servlets/stk/annent/5252.jsp
28-Jul-2017 09-Aug-2017 BONUS_ISSUE Bonus Issue 1 : 2
18-Feb-2016 04-Mar-2016 STOCK_SPLIT Subdivision 2 : 1

I thought let's go jaks means Sell Jaks thats what he is telling you

Wdlim123
let's go jaks
4 minutes ago

Agree ignore the noise. Especially avoid/ignore the one make the most noise day and night at jaks forum.

StartOfTheBull
I meant ignore the noise.
1 hour ago

SINGAPORE JET KEROSENE (PLATTS) FUTURES
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+3.33%

Brent crude futures went up more than 1% to surpass $90 a barrel on Tuesday, a fresh high since November 2022, after Saudi Arabia announced it will extend the voluntary cut of one million barrels of oil per day for another three months until the end of December, to support stability and balance of oil markets. Saudi Arabia added that the cut decision which has gone into implementation in July and was extended to include August and September, will be reviewed monthly to consider deepening the cut or increasing production. At the same time, Russia also extended its voluntary reduction in oil exports by 300,000 bpd until the end of the year. On the demand side, concerns about the health of the Chinese economy continue after services PMI at the world’s largest crude importer disappointed.

A good reminder from KYY

All politicians must remember that we were all the same humans in Malaysia until RELIGION separated us, POLITICS divided us, WEALTH classified us, RACE disconnected us and CORRUPTION destroyed Malaysia.

05/09/2023 0.23 0.215 - 0.235 0.22 -0.015 (6.38%) 26,997,700
04/09/2023 0.24 0.225 - 0.245 0.235 0.00 (0.00%) 60,733,600
01/09/2023 0.20 0.20 - 0.24 0.235 +0.035 (17.50%) 184,429,300

Jaks T volume: 184,429,000: Price +0.035
Jaks T+1 volume: 60,733,600: Price + 0.000
Jaks T+2 volume: 26,997,000: Price -0.015

So you should know what will be the T+3 volume and price movement?