At least I contribute positively to the general good of investors on my many complaints on Xingquan.

I still remember my first complaint to SC and Bursa on Xingquan with the following:
I was shocked that the CEO was allowed to lie through his teeth with impunity during the AGM Q&A session and the external Auditor and Independent Directors danced to the CEO tune.

I also complain bitterly why I should pay Xingquan Company Secretary RM70 to get a copy of Xingquan AGM minutes, can’t they publish it on Bursa or the company website.

Attachment 3: Xingquan AGM minutes for all to see for your-self what I mean by CEO lie through his teeth with impunity and external Auditor and Independent Directors dance to the CEO tune

I am more that grateful and thrilled when I read the below link:
https://www.sc.com.my/api/documentms/download.ashx?id=b59a0f5d-c414-4c27-b1c2-37ad15072d47

Annual General Meeting CORPORATE GOVERNANCE CHECKLIST FOR SHAREHOLDERS
Co-author by SC, Institutional Investors Council Malaysia and MSWG
Since then I can see a sea-change in the way AGM was conducted. My many thanks to SC, Institutional Investors Council Malaysia and MSWG

Will SC and bursa working together with Institutional Investors Council Malaysia and MSWG come up with CORPORATE GOVERNANCE CHECKLIST in addressing?
1. How listed companies should respond to news, IBs analyst report and investor enquiry.
2. IBs analyst should include the briefing material, transcript of Q&A and interview as appendix.
3. How to prevent abuse of impairment of receivables to whitewash accounting fraud or siphoning listed company money to relate party, friendly party or to own private company
4. Should SC informed the complainer the progress/status of complaint lodged with SC and Bursa (case still active or close with no action)

I was naive then as I thought Bursa and SC should take action to protest shareholders' interest.

As a retail investor I depend on Bursa and SC to protect investors’ interest by taking stern action against market fraud/manipulators. External auditor, IBs Banker as principal advisor, underwriter and placement agent for IPO, RI and PP to perform their due diligence and fiduciary duty in auditing and preparing the company Annual report, IPO, RI and PP Prospectus.

By the way, it was a pleasant experience in meeting with Mr and Mrs Koon Yew Yin. They are very nice people in person.

geary The Star 29 Aug, 2023.
CapitalA posted, RM 1.118Bn, #2ndQuarter profit.
Know what is Gain on remeasurement of previously held interest RM 1,369.258 million come from?


17. Investments in associates (cont’d.)
The gain on remeasurement of previously held interest in associate immediately before obtaining control are as follows:
RM million
Fair value of previously held interest 1,874.3
Less: Carrying amount of previously held interest (505.0)
Gain on remeasurement of previously held interest 1,369.3
Details of the assets, liabilities and net cash outflow arising from the deemed acquisition of
AAV are as follows:

Fair value recognised on acquisition RM million.Carrying amount RM million
Assets
Non-current assets
Property, plant and equipment 549.9 549.9
Investment property 67.7 67.7
Right of use assets 3,255.2 3,255.2
Intangible assets 1,971.9 3,143.0
Investment securities 2.3 2.3
Derivative assets 0.1 0.1
Deferred tax assets 652.4 652.4
6,499.4 7,670.5

Current assets
Inventories 36.1 36.1
Receivables and prepayments 630.7 630.7
Amounts due from related parties 378.0 378.0
Tax recoverable 32.1 32.1
Derivative assets 0.1 0.1
Deposits, bank and cash balances 228.4 228.4
1,305.4 1,305.4
Total assets 7,804.9 8,976.0

Liabilities
Non-current liabilities
Borrowings 435.4 435.4
Long-term debentures - net of current portion 333.3 333.3
Lease liabilities 3,521.7 3,521.7
Derivative liabilities 11.1 11.1
Provision for retirement benefits 103.3 103.3
Deferred tax liabilities 394.3 394.3
4,799.1 4,799.1

Current liabilities
Trade and other payables 1,121.1 1,121.1
Aircraft maintenance provisions and liabilities 340.4 340.4
Sales in advance 502.6 502.6
Borrowings 198.7 198.7
Current portion of long-term debentures 188.8 188.8
Short-term debentures 99.2 99.2
Derivative liabilities 0.2 0.2
Lease liabilities 779.9 779.9
3,230.9 3,230.9
Total liabilities 8,030.0 8,030.0

As at 31/5/2023 RM million
Fair value of net identifiable liabilities (225.1)
Less: Non-controlling interests’ share of profit at 57% 128.3
Group’s interest in fair value of net identifiable assets (96.8)
Goodwill on acquisition 799.9
Deemed net assets acquired by the Group 703.1

As at 31/5/2023 RM million
Cost of acquisition -
Less: Cash and cash equivalents of subsidiary acquired (228.4)
Net cash inflow on deemed acquisition of a subsidiary (228.4)
* The cost of acquisition is nil as this is a deemed acquisition of a subsidiary.

People only take private assets rich listed companies. Then monetise the asset and make lot of money.

AS at 30/6/2023 CapA only have solid assets of PPE at book value of RM 1,456,869,000 and properties RM 67,718,000.

The rest are: ROU, intangible, deferred Tax, investment in associate security, perpayments for aircrafts and engines maintenance, deposits for aircraft purchase.

Previously I am not sure the KLK deal will go thro' due to political baggage. As for LTAT to take Bplant private it is a done deal.

Sslee DickyMe What asset was liquidated?
07/10/2023 11:26 AM

Answer:
Aircraft Operating Lease Income

With the purchase of these huge purchase planes to fund their regional ambitions, as stated previously, Airasia, the Group Company now had a new income stream that would grow far more profitable than expected.

It would not be unreasonable to say that by 2016, this has grown to be their second largest revenue and largest profit contributor.

Without it, the Airasia Group would be lossmaking.

Externally, this also caused huge headaches with accusations by GMT Research that Airasia was only profitable due to the leasing of these planes resulting in profit transfers from unprofitable regional Joint Ventures, to the group holding.

Internally, i’m sure the other joint venture or associate partners did not feel comfortable about this as well, as it could be seen as Airasia Berhad milking the associates for all its worth.

This culminated in the sale of the planes and the leasing business

28 Feb 2018 (Completed 31 Dec 2018) – BBAM Limited Partnership / FLY RM 9,775.6 million and RM 262.3 million (82 Aircraft and 14 Engines)
24 Aug 2018 (Completed 8 August 2019) – Castlelake L.P. USD 739.5 million (RM 3,559.5 million) (25 Aircraft)
25 July 2019 (Completed 31 December 2019) – Castlelake L.P. (RM 1,240 million) (14 Airbus A320-200)

Cumulative 6 months end 30/6/2023
Revenue: RM 5,680,844,000
Depreciation of right of use assets: RM (680,187,000)
Finance costs-lease liabilities: RM (405,059,000)
Finance costs : RM (132,454,000)

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.

Finance and Lease Cost = 1,217,620,000/5,680,844,000= 21.4%

Repost:
Do no argue with a fool. He will drag you to his level and beat you with his repeat playing broken record/insult.

Lesson learned: Do not stoop so low to their level.

“When someone is cruel or acts like a bully, you don’t stoop to their level. No, our motto is: ‘When they go low, we go high’.”

The Late Show host said: “I totally understand going high when somebody goes low, but the bar is so low that staying at your own altitude still means higher. Do I actually have to go up here or can I just be normal? Do I have to be a saint? Because down here, I’m pissed off!”

Michelle Obama replied: “For me, going high is not losing the urgency or the passion or the rage, especially when you are justified in it.

"Going high means finding the purpose in your rage. Rage without reason, without a plan, without direction is just more rage. And we’ve been living in a lot of rage.”

She added that going low is “unsustainable” and explained: “If going low worked, we’d do it. It might be a ‘quick fix’ but it doesn’t fix anything over the long term.

“I’m trying to push us to think about solutions that will actually unite us and get us focused on the real problem. That’s what I mean when I say, ‘go high’. So yes, go high. America, please go high.”


Secret to happiness and success

“Happiness and freedom begin with a clear understanding of one principle: Some things are within our control, and some things are not.”

i3ivestor forum comment, house rule (not under my control, so live with it) but you can choose to totally ignore those good for nothing cyber trolls.

In life you are going to come across many type of people so choose who are to be your friends, associate with and who to avoid/ignore because your future success and happiness will depend on this critical choice

Repost:
Do no argue with a fool. He will drag you to his level and beat you with his repeat playing broken record/insult.

Lesson learned: Do not stoop so low to their level.

“When someone is cruel or acts like a bully, you don’t stoop to their level. No, our motto is: ‘When they go low, we go high’.”

The Late Show host said: “I totally understand going high when somebody goes low, but the bar is so low that staying at your own altitude still means higher. Do I actually have to go up here or can I just be normal? Do I have to be a saint? Because down here, I’m pissed off!”

Michelle Obama replied: “For me, going high is not losing the urgency or the passion or the rage, especially when you are justified in it.

"Going high means finding the purpose in your rage. Rage without reason, without a plan, without direction is just more rage. And we’ve been living in a lot of rage.”

She added that going low is “unsustainable” and explained: “If going low worked, we’d do it. It might be a ‘quick fix’ but it doesn’t fix anything over the long term.

“I’m trying to push us to think about solutions that will actually unite us and get us focused on the real problem. That’s what I mean when I say, ‘go high’. So yes, go high. America, please go high.”


Secret to happiness and success

“Happiness and freedom begin with a clear understanding of one principle: Some things are within our control, and some things are not.”

i3ivestor forum comment, house rule (not under my control, so live with it) but you can choose to totally ignore those good for nothing cyber trolls.

In life you are going to come across many type of people so choose who are to be your friends, associate with and who to avoid/ignore because your future success and happiness will depend on this critical choice

So can CapA settle net current liabilities of RM (11,938,731,000) obligation in next 12 months time?

What a term loan of USD 150 million can do, when 2Q2023 Net current liabilities is RM (11,938,731,000)?

Yes another USD 150 million term loan for working capital.

Posted by StartOfTheBull > Oct 6, 2023 12:07 PM | Report Abuse
Sot2 wrote recently that 7 October 2023 is the ultimatum date for RP submission. So now how? Sot2 Lee wants to twist and turn again?

Are you saying Stony is very good at twist and turn?


Stony has been telling every "Tom, Dick, and Harry" that PN17 is just an accounting issue and can be solved easily but the action of asking for first 6 months extension to 7 July then another 3 months extention to 7 Oct 2023.

Now asking for the third extension to 31 Dec 2023.
Will Bursa grant the extension or reject the extension and by the way even Bursa grant the extension will Stony keep his word come 31 Dec 2023?

Just a gentle reminder.
When will Bursa say enough is enough? ( third, fourth or fifth request for extension)

(i) the Company fails to submit its regularisation plan to the regulatory authorities on or before 7 October 2023;

(ii) the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; or

(iii) the Company fails to implement its regularisation plan within the time frame or extended time frame stipulated by any of the regulatory authorities.

Upon occurrence of any of the events set out in (i) to (iii) above, Bursa Securities shall suspend the trading of the listed securities of the Company on the 6th market day after the date of notification of suspension by Bursa Securities and de-list the Company, subject to the Company's right to appeal against the delisting.

Nowadays when you point out someone untrue or totally false/fabricated/miss- information like @ 0.85 U can Q also, that's the average price, of conversion of all the private placements, Sukuk, warrants, n bonds. When there are no convertible PPs, Sukuk or Bonds in existence.

Should or shouldn't you expect a thank you for pointing out the mistake?

geary solid
Lol, why got ppl still q to buy @ 0.85 if it is really go Holland? So funny.
U can Q also, that's the average price, of conversion of all the private placements, Sukuk, warrants, n bonds.


RENOUNCEABLE RIGHTS ISSUE OF RM974,513,219.25 IN NOMINAL VALUE OF 7-YEAR REDEEMABLE CONVERTIBLE UNSECURED ISLAMIC DEBT SECURITIES ("RCUIDS") AT NOMINAL VALUE OF RM0.75 EACH BASED ON THE SHARIAH PRINCIPLE OF MURABAHAH (VIA TAWARRUQ ARRANGEMENT) COMPRISING 1,299,350,959 RCUIDS TOGETHER WITH 649,675,479 FREE DETACHABLE WARRANTS ("WARRANTS"), ON THE BASIS OF 2 RCUIDS WITH 1 WARRANT FOR EVERY 6 ORDINARY SHARES IN AIRASIA GROUP BERHAD ("AAGB") ("AAGB SHARES") HELD BY THE ENTITLED SHAREHOLDERS AT 5.00 P.M. ON 2 DECEMBER 2021 ("RIGHTS ISSUE")

RCUIDS with profit sharing 8% per annum. Redeem at maturity date 29/12/2028 or covert 1 to 1 at anytime before maturity

The CapA-WA maturity date: 29/12/2028 exercise price RM 1.00.

Only above outstanding RCUIDS and WA are convertable. No other outstanding PP, Sukuk or Bonds are convertable.

FY 2022: FY2021
RM'000, RM'000
Revenue 89,794 108,145
But
Trade and Other Receivables 340,873 344,366

Question 1:How can Trade and Other Receivables is 3X revenue?

Question 2 Why come Q4 impairment loss on goodwill and receivables?

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

Repost:
Jaks
FY 2022: FY2021
RM'000, RM'000
Revenue 89,794 108,145
Cost of Sales(74,650) (89,361)
Gross Profit 15,144 18,784
Other Operating Income 3,709 4,535
Other Operating, Administrative Expenses (113,524) (111,758)
Operating Loss before finance cost (94,671) (88,439)
Finance cost (24,383) (21,980)
Operating Loss after finance cost (119,054) (110,419)
No Wander yearly issued either RI or PP to get money from shareholders to pay Other Operating, Administrative Expenses and Finance cost...

Ann. Date Date Type Unit Price
07-Sep-2023 08-Sep-2023 Private Placement 80,014,700 0.180 Additional Listing Detail
26-May-2023 29-May-2023 Private Placement 129,017,000 0.185 Additional Listing Detail
30-Jun-2021 01-Jul-2021 Private Placement 272,667,000 0.475 Additional Listing Detail
27-May-2019 28-May-2019 Private Placement 58,465,313 0.700 Additional Listing Detail
29-Mar-2018 30-Mar-2018 Private Placement 49,631,200 1.380 Additional Listing Detail
23-Mar-2017 24-Mar-2017 Private Placement 43,836,100 1.360

13-Oct-2020 26-Oct-2020 RIGHTS_ISSUE Rights Issue 8.0000 : 5.0000
05-Nov-2018 16-Nov-2018 RIGHTS_ISSUE Rights Issue 1 : 2

Know how much other incomes insas have?
FY 2023: FY2022
RM'000, RM'000
Other incomes 94,469 101,489

Jaks
FY 2022: FY2021
RM'000, RM'000
Revenue 89,794 108,145
But
Trade and Other Receivables 340,873 344,366
No wonder every year come Q4 impairment of Trade and Other Receivables.

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

Yes, the plane is taking off to Hollland. Willing buyers willing sellers. All the best.

The_JQuestion yes @ geary... positive cashflow but sslee by the book fail to spot it :)) he only know debt ,and losses but tony show him profit ... hahah unbelievable But i believed :))... look at share price, what do u think will be the outcome :))
market vs sslee/loser88/i3looker ,, who smarter :))
05/10/2023 10:06 PM

Really positive cashflow? then why need USD 150 million for aircraft, engines maintenance and working capital?
Mind to explain with billion in advance sales yet still need USD 150 million loan for working capital?


KUALA LUMPUR (Oct 3): AirAsia Bhd, the aviation arm of Capital A Bhd, has secured a five-year term loan of up to US$150 million (approximately RM708.46 million).

The loan will be used to fund its aircraft and engines maintenance and working capital, according to the bourse filing by Capital A.

Kata itu kota is no longer a local practice but I thought Stony is Sir Tony, his word should count for something.

On behalf of the Board of Directors of the Company, RHB Investment Bank Berhad wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had vide its letter dated 27 July 2023 resolved to grant the Company an extension of time of 3 months up to 7 October 2023 to submit its regularisation plan to the regulatory authorities.

The extension of time is without prejudice to Bursa Securities' right to proceed to suspend the trading of the listed securities of the Company and to de-list the Company in the event:

(i) the Company fails to submit its regularisation plan to the regulatory authorities on or before 7 October 2023;

(ii) the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; or

(iii) the Company fails to implement its regularisation plan within the time frame or extended time frame stipulated by any of the regulatory authorities.

Upon occurrence of any of the events set out in (i) to (iii) above, Bursa Securities shall suspend the trading of the listed securities of the Company on the 6th market day after the date of notification of suspension by Bursa Securities and de-list the Company, subject to the Company's right to appeal against the delisting.

This announcement is dated 27 July 2023.

Above is what Bursa say then when approve the second extension to 7 Oct 2023.
What will Bursa say this time round to the third request for extension to 31 Dec 2023?

If No announcement tomolo mean consultants and advisors hired by capA to advise on its regularisation plan all gaji buta.

Capital A has engaged RHB Investment Bank Bhd, BDO Consulting Sdn Bhd, Deloitte Corporate Advisory Services Sdn Bhd, Ernst & Young PLT, Adnan Sundra & Low and Providence Strategic Partners to advise on its regularisation plan.

We refer to the Company’s announcement dated 26 April 2019 in relation to the Company being classified as an affected listed issuer affected listed issuer under Practice Note 17 ("PN 17") of the Main Market Main Market Listing Requirements (“Main Market LR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”), as it has triggered the prescribed criteria under Paragraph 8.04 and Paragraph 2.1(f) of PN 17 of Main Market LR whereby the Company has defaulted in the payment of principal and profits to AmBank Islamic Berhad, pursuant to Paragraph 9.19A of the Main Market LR and Seacera is unable to provide a solvency declaration to Bursa Securities.

On behalf of the Board, M&A Securities Sdn Bhd wishes to announce that a waiver application to Bursa Securities seeking its approval for a waiver to submit a regularisation plan and an upliftment of Seacera’s PN 17 status had been submitted on 20 April 2023. The Company will make the necessary announcements in due course if there are further developments in relation to the said application.

This announcement is dated 20 April 2023.


The Board of Directors of the Company wishes to inform that all outstanding due from Seacera Ceramics Sdn. Bhd. (In Liquidation) to Ambank Islamic Berhad has been fully settled on 28 February 2023. Therefore, there shall not be any default in payment to Ambank Islamic Berhad as at the date of this announcement.

This announcement is dated 1 March 2023.

So if CapitalA highest profit after 22 years is RM 2.16 Billion. Generated free cash flow RM 7.4 Billion!? How!?
Magic Accounting again!?
So biased towards CAPITALA!?
🤔🙏🚀

Did capA generating billion in cashflow for cumulative 6 months end 30/6/2023?

Group (“EBITDA”) of RM462 million in 2Q2023 and Group operating cash flow over RM1 billion 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)

Capital A has engaged RHB Investment Bank Bhd, BDO Consulting Sdn Bhd, Deloitte Corporate Advisory Services Sdn Bhd, Ernst & Young PLT, Adnan Sundra & Low and Providence Strategic Partners to advise on its regularisation plan.

Did I hear its wrongly someone is saying afterall: 8 quarters of Green, Regularisation Plan, not needed by Bursa SC. They will waive it🙏

Who are you trying to kid geary?

Did anyone know that palm trees is the most efficient solar panel in the world.
The palm tree under sunlight absorb C02 from atmospere and then chemically combine it with H (water from root) to form hydocarbon and release O2 to atmospere.

What will happen to solar panel when their usefull lifespan of 25 years is over?
While we can replant palm tree and the old tree just biodegrade. Palm tree is sustainable, renewable and enviornment friendly.

After Q3 Q to Q NP drop, then Q4 Q to Q NP drop and no dividend from JHDP. Most likely by End Feb 2024 Jaks will drop below 10 cents.

If LTAT offer at RM 1.55 to take bplant private then it is a done deal.

21. Borrowings
As at 30/6/2023 RM million
As at 31/12/2022 RM million
Short term
Term loans 428.0 233.6
Revolving credit 16.0 31.8
Convertible loan note 280.9 265.6
725.0 531.0
Long term
Term loans 1,760.7 1,302.4
Other facility 456.4 447.8
RCUIDS 747.2 655.5
2,964.2 2,405.7
Total 3,689.2 2,936.7

The currency profile of borrowings are as follows:
As at 30/6/2023 RM million
As at 31/12/2022 RM million
Ringgit Malaysia 962.6 901.8
US Dollar 1,934.1 1,735.1
Philippine Peso 86.9 83.1
Thai Baht 660.7 172.8
Indonesian Rupiah 45.2 43.9
3,689.2 2,936.7

What a term loan of USD 150 million can do, when 2Q2023 Net current liabilities is RM (11,938,731,000)?

Why another 3 months extension?
No confident on Stony word that PN17 will be ready by 7 Feb 2023, then 7 July 2023 and then 7 Oct 2023?

Even giving another year of extension, CapA will still cannot come out with PN17 regularisation plan to turn shareholders' equity from RM negative (8,390,820,000) to min positive RM 40 million.

Posted by i3lurker > Oct 3, 2023 10:18 AM | Report Abuse
More Time More Die.
USD rate expected to increase to 5 by end 2024

A gentle reminder.
If capA cannot submit PN17 regularisation plan before or on Bursa deadline 7 Oct 2023, Bursa can either allow or reject the third request for extension and proceed to suspend and delist capA.

The Board of Directors of Capital A Berhad (“Capital A” or “Company”) wishes to announce that AirAsia Berhad [Company Registration Number 199301029930 (284669-W)] (“AAB”), a wholly-owned subsidiary of Capital A had on 3 October 2023 accepted a five (5) year term loan facility of up to USD150.0 million offered by a financial institution. (“Term Loan”)

2.INFORMATION AND PURPOSE OF THE TERM LOAN

The details of the Term Loan are as follows:
Facility
Purpose
Amount
Term Loan

Funding the aircrafts and engines maintenance cost and the working capital requirements of AAB
USD150.0 million

The Term Loan is secured by, inter-alia, a corporate guarantee from Capital A, which shall remain throughout the term of the Term Loan.

Know what will be the interest charge for this USD 150 million term loan?

Beside advance sales now need further loan for working capital.
How to come out with PN17 regularisation plan before or on Bursa deadline of 7 Oct 2023?

Manifesto: Make Bursa great again.

Did I or didn't I speak the truth, the whole truth, and nothing but the truth?

i3lurker,
This post is now amended by adding another RM3 Billion, being additional losses after said date of original post.
More Time More Die
Fly More Die More

Nice of you for offering special discount.
The non-current assets after acquiring PAA 60% from JV partner is now loaded with 2.246 billion goodwill and 2.416 billion landing rights. So you are actually giving a discount of RM 1.65 billion.

Sometime I wonder why developers were forced to give special bumiputra discount to Bumiputra buyers on properties that worth a few RM millions?

As at 30/6/2023: 31/12/2022
Deposits, bank and cash balances: RM 735,003,000: RM469,985,000
Sales in advance: RM 2,024,943,000: RM 1,428,011,000
Current borrowing: RM 724,973,000: RM 530,958,000
Non current borrowing: RM 2,964,246,000: RM 2,405,756,000
Short term debentures: RM 98,156,000: -
Current portion of long term debentures: RM 186,741,000: -
Non-current portion of long term debentures: RM 194,722,000: -
Current trade and other payables: RM 3,936,316,000: RM 2,878,562,000

CapA is more and more insolvent as at 30/6/2023, taking in more and more borrowing, advance sales, trade and other payables just to activate more plane. It is aka to Ponzi schemes collecting more sales in advance for current working capital.

By the way no external auditors dare to express a clean opinion of capA’s financial position.

2Q2023 Current liabilities RM 14,208,631,000, current assets RM 2,269,900,000 thus net current liabilities RM (11,938,731,000), CapA is an insolvent company

Based on its improved operating and financial performances, AAX no longer triggers any of the criterias prescribed under Paragraph 2.1 of PN17, particularly as AAX’s shareholders’ equity has turned positive; and AAX’s external auditors have expressed a clean opinion of AAX’s financial position.

When can capA shareholders' equity turn positive?

As at 30/6/2023: As at 31/12/2022
RM ‘000: RM’000
Capital and reserves:
Share capital: 8,659,652: 8,654,977
Merger deficit: (5,507,594): (5,507,594)
Other reserves: 266,894: 204,020
Foreign exchange reserve: (1,657,962): (153,308)
Accumulated losses: (10,151,810): (8,923,188)
Equity:
Shareholders’ equity: (8,390,820): (5,725,093)
Non-controlling interest: (1,813,867): (3,791,865)
Total equity: (10,204,687): (9,516,958)

Just wonder why capA let go AA Japan to bankruptcy but bought back with undisclose sum PAA JV partner 60% interest?

What will happen to IAA now? CapA & Garuda MOUs
- AA & Citilink (airlines)

And it look like Stony unable to submit capA PN17 regularisation plan on or before Bursa deadline of 7 Oct 2023.

Q3 will be another lose quarter (Jet fuel price increase, USD: MYR 4.70 more money to pay lease liabilities, borrowing and to activate planes)

So need to see Q4 the full potential when all the grounded planes are on the air.

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

Posted by Anw412 > Sep 27, 2023 11:10 PM | Report Abuse
CapA & Garuda MOUs
- AA & Citilink (airlines)

So did this mean capA already give up IAA Indonesia domestic flight to citilink?

Investment is not about max gain but all about not to lose money.

The first rule of an investment is don't lose [money]. And the second rule of an investment is don't forget the first rule. And that's all the rules there are." - Warren Buffett

geary CAPITALA: Pivot Point Momentum!?
<200SMA. Dec/Jan: Year End/Window Dressing 🚀
Bull/Bear: 80/20%🤔
S1: 0.980.
PIVOT: 1.01
R1: 1.28.
R2: 1.58.
R3: 2.08.
A.Technically Equity Negative 🤔
B.No Winding Up/Liquidation Order👍
C. No Defaulted, loan obligation is covered by Cash Flow. Saved by the Bell!
D. #3 quarters of positive cash flow🙏, n increasing, with average debt/interest payments of #800M.🙏
Disclaimer: Trade at your own Risk👌

EngineeringProfit geary actually gave a 80% bull outlook for capA with half truth or untruth/fault #3 quarters of positive cash flow.

What will happen to capA price if come 7 Oct 2023 Stony can't submit PN17 regularisation plan and Bursa reject the third request for extension and proceed to suspend and delist capA?

Stony has been telling every "Tom, Dick, and Harry" that PN17 is just an accounting issue and can be solved easily but the action of asking for first 6 months extension to 7 July then another 3 months extention to 7 Oct speak lounder than his word.

Will Stony keep his word this time round?

Just a gentle reminder.
Will capA able to submit PN17 regularisation plan by or before Bursa deadline of 7 Oct 2023?

Dear Sir/Madam,
Thank you for your e-mail.

Please note that the acquisition is below the threshold that warrants immediate announcement. Should we come across any potential breaches of other regulations / Acts (other than the Listing Requirements), we will also make the necessary referral to other relevant authorities.

My reply
Dear Bursa,

Thank you for information that the acquisition is below the threshold that warrants immediate announcement.

Referring:
PAA: Balance sheet:
2022 RM ’000
Non-current assets: 709,801
Current assets: 357,236
Non-current liabilities: (1,021,560)
Current liabilities: (3,100,251)
Net liabilities: (3,054,775)

From CapitalA: Second quarter report ended 30 June 2023:
Page 4:
As at 30/6/2023: As at 31/12/2022
RM ‘000: RM’000
Capital and reserves:
Share capital: 8,659,652: 8,654,977
Merger deficit: (5,507,594): (5,507,594)
Other reserves: 266,894: 204,020
Foreign exchange reserve: (1,657,962): (153,308)
Accumulated losses: (10,151,810): (8,923,188)
Equity:
Shareholders’ equity: (8,390,820): (5,725,093)
Non-controlling interest: (1,813,867): (3,791,865)
Total equity: (10,204,687): (9,516,958)


2Q2023:
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)

Am I right to say the undisclosed sum for the acquisition is RM 52,061,000?

Would Bursa please show the calculation the acquisition with undisclosed sum to “increase effective stake from 40% to 100% in Philippine Air Asia” that transfers about negative equity of RM 2 billion from Non-controlling interest to Shareholders’ equity and about RM 1 billion addition accumulated losses is below the threshold that warrants immediate announcement?

Thank you

Post removed.Why?