Coming saturday is state (Kedah, Selangor, Negeri Sembilan, Kelantan ,Terengganu and Penang) election.
Let politicians’ screams for your vote. We the silent majority will vote according to our conscious and what is best for Malaysia and our next generation. So please vote with care.

The story of a lion, a tiger and a donkey:
The donkey told the tiger, “The grass is blue.”
The tiger replied, “No, the grass is green.”
The discussion became heated and the two decided to submit the issue to arbitration. So they approach the judge lion. As they approached the lion on his throne:
The donkey started screaming, “Your highness isn’t it true that the grass is blue?”
The lion replied, “If you believe it is true then the grass is blue.”
The donkey rushed forward and continued, “The tiger disagreed with me, contradict me, annoyed me. Please punish him!”
The Lion then declared, “The tiger will be punished. Three days of silence.”
The donkey jumped with joy and went on its way content and repeating, “The grass is blue. The grass is blue.”
Well in private, the tiger asked the lion, “Your majesty, why have you punished me? After all the grass is green”
The lion replied, “You know the grass is green”
The tiger asked, “Then why do you punish me?”
The lion replied, “That has nothing to do with the question of whether grass is blue or green. The punishment is because it is degrading for a brave and intelligent creature like you to waste time arguing with an ass and on top of that you came and bother me with that question just to validate something you already knew was true. You see the biggest waste of time is arguing with a fool and fanatic who doesn’t care about truth or reality but only the victory of his or her believes or illusions. Never waste time on discussion that makes no sense, that there are people who for all the evidences presented to them do not have the ability to understand. Not that they won’t understand they just wanna to argue. Others who are blinded by ego or hatred and resentment, the only things that they want is to be right even if they aren’t. The saying goes, when the ignorant screams intelligence moves on.”

I too getting the thrill doing some trade/small bet: enjoy swimming with sharks, and getting the thrill of 'eat me not' from doing so. And, many of my small bet earned me free bintang beer and lobsters.
Cheer

Posted by EngineeringProfit > Aug 10, 2023 9:42 AM | Report Abuse
Meanwhile, Sslee must understand that many of us enjoy swimming with sharks, and getting the thrill of 'eat me not' from doing so. And, many are not contrarians too

The reason why people convert the loan stock (forgo loan stock interest of 8% per annum) is not out of love to save CapitalA some interest payment but because the trading volume of loan stock is poor/small but when converted to capitalA can sell all at one go.

Ann. Date
Date
Type
Units
Price
View
09-Aug-2023 10-Aug-2023 Conversion of Loan Stocks 40,334,000 0.750

There is a famous quote attributed to Great Depression-era economist John Maynard Keynes – “Markets can remain irrational longer than you can remain solvent”.

This is an important idea for investors to ponder. It essentially means that in the short-run (or even the medium-run) markets can (and often do) do anything.

By the way it's your money and you decide what is best for you. Remember money is not everything but everything needs money

Windy1974
There were a period of time in my investment journey where i thought i was smart by choosing low PE companies vs high PE companies and the market proved me wrong by the high PE companies share price consistently outperforming my low PE companies. I told myself, time will prove me right. Sadly, after years, time proved me wrong and now i understand why. Investment is never an exact science and we need to be humbled.

So no quarrel needed also no answer.

I must have done something right that no one dare to speak the truth or answer plain questions but choose to throw insult.

No quarrel needed just plain explanation will do.

CapitalA Q1 end 30/03/2023
Current lease liabilities: RM 4,425,518,000
Current aircrafts maintenance: RM 441,089,000
Current trade and other payables: RM 2,936,242,000
Current amount due to associates: RM 359,096,000
Current amount due to related parties: RM 275,443,000
Current borrowing: RM 513,640,000
Sales in advances: RM 1,546,450,000

So in 12 months time if you do not pay these IOU amt to lessors/trade, maintenance and sevices suppliers/bankers/ associate companies/related parties and provide the promised flight services to sales in advance customers then what will happen?

Note: lease liabilities mostly in USD.

Lease liabilities
The lease liabilities amounting to RM14.9 billion includes deferred aircraft leases of approximately RM2.4 billion. The lease liabilities are supported by ROU assets of RM10.1 billion and finance lease receivables of RM0.4 billion.

Is deferred lease liabilities mean rolled over unpaid lease payment due?

Market sentiment on aviation and fault/misplaced preception/insightt that CapitalA = SIA carried the day.

The real test will come end of this month quarter 2 financial result and on or before 7 Oct 2023 PN17 regularisation plan.

Ignorance is bless but ignore the accounting at your own peril!
Balance Sheet as at 31/3/2023 :
Net current liabilities: RM (8,524,896,000)
And Net total assets/total equity : RM (9,376,200,000)

The advance ticket sell/future earning is used for current working capital meanwhile the current liabiliaties has been rolled over with increasing financial/interest charged. It is not sustainable.

So Insightt mind telling me what accounting say about Net current liabilities: RM (8,524,896,000) and Net total assets/total equity : RM (9,376,200,000)???

Posted by Insightt > Aug 9, 2023 6:06 PM | Report Abuse
For those of you who don’t know. Sslee and another same alike sslee Dickyme2 who doesn’t know accounting has been the light in this Cap A forum since covid.

Buy at your own peril.

Many of CapitalA impressive business units (SuperApp, teleport, bigpay, ADE and etc) need time to generate profit and is of no help in solving the current elephant in the room:

Balance Sheet as at 31/3/2023 :
Net current liabilities: RM (8,524,896,000)
And Net total assets/total equity : RM (9,376,200,000)

The advance ticket sell/future profit is used for current working capital meanwhile the current liabiliaties has been rolled over with increasing financial/interest charged. It is not sustainable.

If you want to make a trade gain betting on TA trend please say so.

You do not need to cut and paste the financial data here which you do not have the capacity to understand what the data mean.

Please learn from rr88 whether today the jaks trend is on double cross bullish uptrend or double bottom bearish downtrend.

The question jaks need to answer is why every year still got impairment of trade and other receivables?

When will this impairment of trade and other receivables stop?

BANGKOK, 19 May, 2022 – Thai AirAsia X (XJ), the low fare long haul carrier, has begun preparations to initiate a rehabilitation process after its submission on 17 May,2022 was accepted by the Thai Central Bankruptcy Court on 18 May, 2022. The objective is to revamp the company’s administration process and restructure its debts, delivering greater efficiency and a solid platform for robust future growth after weathering the COVID-19 pandemic. The process will have no impact on passengers as operations will continue as usual and Thai AirAsia X prepares to reintroduce flights to South Korea and Japan from June 2022 onwards.

A 49% associate of AAX, TAAX is under bankruptcy protection or in other word AAX is still under PN17 on the below clause:

(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

I am not jealous nor have anything against Airasia, in fact I would like to thanks Airasia for providing affordable air travel that have benefited many people.

I am here trying to tell forummers to be objective and think rationally. CapitalA balance sheet is very bad

Balance Sheet as at 31/3/2023 :
Net current liabilities: RM (8,524,896,000)
And Net total assets/total equity : RM (9,376,200,000)

Thus CapitalA will not be able to meet Bursa deadline/dateline to submit PN17 regularisation plan (CapitalA badly need new capital injection or debts restructure which is not possible at current stage) hence perhaps delist is a good option for Stony to have a free hand to restructure the business units and list some of business units to raise capital for CapitalA.

It is my hope capitalA will make a comeback with a stronger balance sheet in future.

EngineeringProfit,
I do not hold any CapitalA (because of PN17 status). You should take some profit before the Q2 result (better operation result will be cancelled by foreign exchange loss) and also don't be the last one caught holding the bag on D day 7 Oct 2023.

Knowledge is power and with great power come great responsibility.

I just trying to do the right thing that investment should be based on facts and figures available (the financial report) and not based solely on hearsay or trend alone (this one for trading which my favorite are Armada and some plantation companies)

@EngineeringProfit long time no see, how are you?. What is your opinion on the incoming state election?

The unlifted of AAX from PN17 is not tie to CapitalA but on AAX major associate and JV (TAAX and IAAX) IAAX dormant but still has unpaid Indonesia tax and TAAX still under PN17 negative equity.

(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

TAAX recorded a net profit of RM63.96 million in the current quarter. As at 31 March 2023, the unrecognised amount of the Group's share of loss of TAAX which have not been equity accounted for amounted to RM453.4 million. In accordance to MFRS 128, any profits will only be recognised when its shares of the profits equals the share of losses previously not recognised.

IAAX has been dormant since FY2020. The Group has discontinued the recognition of its share of losses incurred by IAAX as the Group's interests had been reduced to zero. As at 31 March 2023, the unrecognised amount of the Group's share of loss of IAAX which have not been equity accounted for amounted to RM304.7

MAS done debts restructure.
AAX done debts restructure.
But CapitalA has not. Why???
Without creditors taking a hair cut, CapitalA will need to work very hard for next 10 year just to pay off the debts.

Note: With high interest rate and high oil price, CapitalA is running on empty tanks.

The fact is the more jobs Jaks tender or more projects undertake the more losses it will be.

The best way forward for jaks is don't do anything. Or can find someone like JHDP China partner, let the partner do everthing and Jaks is there to colllect money.

By the way jaks is short of money to undertake any more new project the MOUs are only for show that ALP is working hard and deserved the fat cat salary and free grant LTIP.

AAX is not an independent low cost/budget long haul airline. It depend on CapitalA for services(ticket sale, promotion, ground crew services, planes maintenance and etc)

So it is up to CapitalA whether AAX is profitable or not.

Before covid AAX did not make money because AAX too dependent on AA/CapitalA (for planes and services) or relate party transactions.

So whether AAX make money or not will still depend on how much CapitalA want to charge AAX for service provide. In short capitalA can just do profit transfer from associate/JV/relate party to CapitalA by overchanging the relate party transactions

https://www.investing.com/commodities/nymex-singapore-gasoil-platts-c1-futures-historical-data

Meaning during Major Turnaround schedule to take place in mid-June 2023, lasting for approximately seventy (70) days HRC would not be enjoying the current good crack spread.


Refine Finished Products and Brent crude price:

https://tradingeconomics.com/commodity/brent-crude-oil

https://www.investing.com/commodities/nymex-singapore-gasoil-platts-c1...

https://www.tradingview.com/symbols/NYMEX-AV02%21/

https://id.tradingview.com/symbols/NYMEX-AKS1%21/

If your company owned 49% of capitalA then in your company balance sheet the non current asset investment in associate company/JV value is zero. (It shoould be negative if you use equity accounting)

Only untill capitalA out of PN17 then only you can account for CapitalA share of profit.

TAAX recorded a net profit of RM63.96 million in the current quarter. As at 31 March 2023, the unrecognised amount of the Group's share of loss of TAAX which have not been equity accounted for amounted to RM453.4 million. In accordance to MFRS 128, any profits will only be recognised when its shares of the profits equals the share of losses previously not recognised.

IAAX has been dormant since FY2020. The Group has discontinued the recognition of its share of losses incurred by IAAX as the Group's interests had been reduced to zero. As at 31 March 2023, the unrecognised amount of the Group's share of loss of IAAX which have not been equity accounted for amounted to RM304.7 million

A cogen plant mean gas turbine + high pressure boiler + steam turbine and total generation capacity of gas turbine plus steam turbine = 600 MW

Beware HRC is having Major Turnaround schedule to take place in mid-June 2023, the duration of which will go on for approximately seventy (70) days.

The back door is designed by Tun M and now you know why Malaysians love back door. It is a short cut to success.

Matriculation is a backdoor design for certain group of people to enter certain courses in local university.

If you admit certain people that is not qualify to do a certain course then you need to open another back door (KPK) to help them to graduate.

After graduate due to their lack of indept knowledge, you need to open another back door to employ and promote them to admin.

No PP no problem still can RI.

One on a better option Stony should consider is to allow CapitalA to be delisted as at currrent stage or near future capitalA will not be able to meet Bursa Listing requirement. (Already too late for a debts restructure as creditors are smart enough to demand full payment with interest)

Once CapitalA is de-list then Stony will then has a free hand in how to restructure the business and relist some of those potential business units in futute in order to pay off all the debts.

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;

What the above sentense implied?

Someone suddenly do not has confident that Stony will submit PN17 regularisation plan on or before 7th Oct 2023.

Somone is now on panic mood that CapitalA suspension and de-list is inevitable.

Profit for the financial quarter end 31/3/2023: RM 327,998,000 boosted by reversal of provisions on debts and investments amounting to
RM265.9 million.

Without the reversal the NP is RM (327.9-265.9) = RM 62 million.

So the statement last QR 70sen EPs clearly shows how profitable is the business now is only half truth.

Bursa already gave CapitalA ultamatum to submit PN17 regularisation plan on or before 7th Oct 2023 or face suspension and delist.

The truth about EV is if more EC on the road then the power generation and power grid will be overloaded.

Jet Fuel station in Airport Singapore
Airport Fuel Price EURO USD
CHANGI INTL Jet A-1 / F-35 or AVTUR 295.0 USD/100 UGL €267.61 $295
SELETAR AIRPORT BF Jet A-1 up to 50% SAF 176.83 SGD/100 L €121.01 $133.4
SELETAR AIRPORT AeroJet 204.03 SGD/100 L €139.63 $153.92
SELETAR AIRPORT Jet A-1 / F-35 or AVTUR 114.03 SGD/100 L €78.04 $86.03
SELETAR AIRPORT AVGAS 100LL (<0.1% benzene) 370.0 SGD

USD 295/100 UGL or USD 2.95x42=123.9 /bbl
04/08/2023 1:49 PM

Post removed.Why?

Jet Fuel station in Airport Malaysia
Airport Fuel Price EURO USD
KOTA KINABALU INTL Jet A-1 / F-35 or AVTUR 2.38 MYR/L €0.49 $0.54
MIRI Jet A-1 / F-35 or AVTUR 2.71 MYR/L €0.55 $0.61
KL INTERNATIONAL Jet A-1 / F-35 or AVTUR 200.0 USD/100 UGL €181.43 $200
LABUAN ISL Jet A-1 / F-35 or AVTUR 3.79 MYR/L €0.77 $0.85
TAWAU Jet A-1 / F-35 or AVTUR 3.79 MYR/L €0.77 $0.85
KUCHING INTL Jet A-1 / F-35 or AVTUR 2.38 MYR/L €0.49 $0.54


Note:
KL: USD 200/100 UGL or USD 2x42= 84/bbl
KK and Kuching RM 2.38/liter
Miri RM 2.71/liter
Labuan and Tawau already adjust the price to RM 3.79 per liter

Wait for next week price to see any price adjustment
https://jet-a1-fuel.com/price/malaysia

Malaysia is in a very sorry state where our only choice of government is cast your vote for the lesser of two evils.

But it is still better then USA force to choose between Biden and Trump

SINGAPORE JET KEROSENE (PLATTS) FUTURES

Kontrak berkelanjutan

AKS1!NYMEX

Pasar buka
112.834USDD
+1.658
+1.49%

https://id.tradingview.com/symbols/NYMEX-AKS1%21/

Case 4: Questionable financial/information disclosure on disposal of JSB 51% equity to ICD for consideration of RM1.00
Bursa Ref:
https://klse1.i3investor.com/blogs/Sslee_blog/2021-05-07-story-h1564320380-JAKS_What_should_I_response_Any_advice.jsp

JAKS Financial ended: 2022: 2021: 2020: 2019
Impairment loss on:
Trade receivables RM: 5,099,410: 9,848,415: 25,862,099: 5,318,354
Other receivables RM: 18,737,258: 13,461,525: 45,331,965: 7,188,995

SERBA DINAMIK HOLDINGS BERHAD
Financial: 9 months ended 31/3/2023: Year ended 30/6/2022: 30/6/21
Impairment of trade and other receivables RM: 865,009,000: 393,205,000: 394,998,000

I cannot believe that Bursa reply to me on impairment of receivable: Please also note that it is the prerogative of the Board of Directors of the listed issuer whether to take legal action with regard to recovery of the receivables.

So impairment of receivables did complied with approved accounting standards and can be used as a legal way to whitewash accounting fraud or siphoning listed company money to relate party, friendly party or to own private company?

Here we are talking about making Bursa an efficient, vibrant, fair and orderly market. But I can’t agree more on the feeling and frustration expressed by i3investor commentator:
hulwan These kinds of shenanigans, and then they wonder why our Bursa is in the doldrums

Referred to FY23 , 1 QR ended March 2023 :
a) Financial assets
Trade and other receivables 337,839,000

Revenue:
FY22: RM 89,794,000
FY21: RM 109,661,000
FY20: RM 259,378,000

Trade and other receivables is greater then sum of FY21 and F22 revenue.
Just waiting for external auditor to provide for impairment of Trade and other receivables FY2023.

RI of RPS with fixed interest payment and maturity date + free warrant is a way to reward rich shareholders who is rich enough to subscribe for the RI with excess application.

So now you know capitalA last RI is for what purpose?

Financial Year
Subject Rights Issue
Type RightIssue
Description 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) ON THE BASIS OF 2 RCUIDS WITH 1 FREE DETACHABLE WARRANT FOR EVERY 6 ORDINARY SHARES IN AIRASIA GROUP BERHAD ("AAGB") HELD BY THE ENTITLED SHAREHOLDERS AT 5.00 P.M. ON 2 DECEMBER 2021 ("RIGHTS ISSUE")
Amount 2.0000 : 6.0000
Ex Date 01-Dec-2021
Entitlement Date 02-Dec-2021

Did someone know the different between RI of share and RI of RPS with fixed interest payment and maturity date?

I doubt if someone know what is lease liabilities?

Somone promoting Jaks but sadly not even know how to read financial report.
So did somone now know what is bank borrowing principal payment and flowing rate interest payment, how to calculate net profit and net cash flow available for dividend distribution?

Fundamental analysis (FA)

Fundamental analysts study anything that can affect the stock's value, including macroeconomic factors (e.g. economy and industry conditions) and microeconomic factors (e.g. financial conditions and company management). The end goal of fundamental analysis is to produce a quantitative value (Intrinsic Value) that an investor can compare with a stock's current market price, thus indicating whether the stock is undervalued or overvalued. Fundamental analysis is a method of evaluating a stock in an attempt to assess its intrinsic value.

In summary Fundamental Analysis cover:

QUANTITATIVE
Financial data/ratio contain in current and past financial report.

QUALITIVE
Economy condition (Current and future)
Industry condition (Current and future)
Company management (Current and future)
Profit growth prospect (Current and future)
In short what many people term as Business Sense (BS) is actually the qualitative part of Fundamental Analysis. BS is subset of FA.

Beside explaining the relationship between TA, FA and BS, I emphasis important of reading financial report: P&L statement, Balance sheet, Cash Flow and working out the intrinsic value.

Definition: Intrinsic value is the Present value of the investment of all the expected cash flow over the lifetime discounted at the appropriate discount rate.

Intrinsic value = (CF1/ (1+d)^1) + (CF2/(1+d)^2) + ----- +(CFn/(1+d)^n)

Where:
CF = Cash Flow in the Period
d = Discount rate
n = The period number
This Intrinsic value is actually a Discounted Cash Flow (DCF)
Example of intrinsic value of INSAS is then the Sum of DCF expected cash flow from varies business streams.
For INSAS assets rich case, it is my opinion that the liquid assets minus total liabilities should be added to this intrinsic value

Other countries are transitioning from a dependency on cheap labour to high-value investments, but Malaysia languishes in the old mantra, resulting in a lack of improvement in the standard of living for most people.

The sluggish economy is also seen in the stock market, with most listed companies’ valuations are based on share prices that are much lower than their actual assets.

So what to say when Insas is selling below its cash and bank deposits and Insas still hold 537,008,575 inari which provide consistant quarterly dividend to Insas.

CapitalA will survive or even prosper in longer term. But in immediate (current) term it will not meet Bursa Listing requirement and will be delist so that Stony can then have a free hand in how to restructure the business and relist some of those potential business units in futute in order to pay off all the debts.

https://klse.i3investor.com/blogs/Sslee_blog/2019-03-02-story196085-Investment_Bloggers_day_I3.jsp

I already done so in educate people on TA, FA, BS and inportant of reading financial report.

It doesn't matter whether you say the glass is half-full or half-empty. The fact remain the same.

Low-cost Airlines in Asia
From sources across the web

AirAsia
IndiGo
Scoot
Jetstar
Cebu Pacific
Lion Air
Nok Air
Jetstar Asia
SpiceJet
AirAsia X
Citilink
VietJet Air
Peach
Tiger Airways
Indonesia AirAsia
Spring Airlines
Thai AirAsia
Jeju Air
GoAir
Malindo Air
Jetstar Pacific
Jetstar Japan
Skymark Airlines
Air Busan