I only gave fair comment based on available fact.

Mind telling us what fact you based on to comment below???

Posted by CapitalB > Aug 2, 2023 12:27 PM | Report Abuse
Cap A price no up for this few today.. Why sslee so rush with bad comment? Really cant understand what the mad people mind thinking..

From the past record insiders press down price to issue more PP share at lower and lower price.

Form the number of PP share issues management can then allocate addiition 15% as LTIP.

Ann. Date
Date
Type
Units
Price
View
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 Additional Listing Detail

Basic accounting:
Profit is after depreciation and interest paymemt.

Operation cashflow is then = profit + depreciation + interest payment

Financial cash out flow = bank installments payment = principal payment + floating rate interest payment (0n principal sum balance)

Cash available for dividend is the operation cash flow minus financial cash outflow.

Petron closes first half with P6.14 billion net income amid market challenges
Aug 1, 2023

Petron reports consolidated net income of P3.4 billion in Q1 2023
May 10, 2023

Do anyone know that AA no more rule the skies.
Know how many low cost airlines in Asia now?

In Malaysia, the average annual salary is US$18,799 (RM83,035), but the estimated average annual minimum wage is only US$4,735. Even with the new minimum wage of RM1,500, it is only US$340 per month, compared to US$1,070 per week in the US.

Despite the government’s noble intention to increase the minimum wage, it only benefits the two million foreign workers, who receive an additional income of RM600 million per month or RM7.2 billion per year.


The bigger problem in Malaysia is the middle-income trap.

After more than 60 years of independence, engineers in the northern region working in unknown companies or non-multinational companies are known to be receiving a meagre starting salary of RM1,800 per month, which is well below the Poverty Line Income (PLI) of RM2,208.

According to a CEBR report in 2000, Malaysia’s per capita GDP was US$6,393, while Romania then recorded a figure of US$4,549 and China only US$2,194.

In 2021, while Romania and China’s per capita GDP increased to US$11,590 and US$11,188 respectively, Malaysians’ income grew moderately to US$10,827 per annum, indicating a stagnant economy since 2017. According to another data, Malaysia’s per capita GDP has actually remained static since 2014.


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.

The GDP per capita data suggest that Malaysia is a prime example of a country stuck in the so-called middle income trap, where countries develop rapidly initially, taking advantage of supplies of cheap labour, but stagnate when their living standards reach a certain level as they fail to invest in higher productivity activities and lose out on international investment to countries with cheaper labour costs.

Only Falun Gong cult member has so much blind hatred toward CCP.

Only those with hidden agenda (either because of blind hatred or they are paid to do so) will be so free to selectively posted negative articles regularly/smear campaign to undermine a particular country and their government system.

Just ask any India poor what India government had done to eradicate poverty in India?

Singapore success follow Malaysia model???

Meritrocracy vs entitlement
Uncorruptable vs systematic corruption
Fair and square vs nepotism, cronyism and rent seeker
Government of the people for the people vs Government of the politician for the politician
Religion/race harmony and freedom vs religion/race bigotry and extremism
Rule by law vs rule by AG

Posted by Mabel > Jul 31, 2023 7:03 PM | Report Abuse

Singapore success follow Malaysia model with significant progress in recent years in terms of economic growth, modernization and expansion of its telecommunication system, and diversification of its economy from dependence on manufacturing, services, and tourism.

Dear Aseng,
No need to say SORRY. I already put the PAST down, but you’ve been carrying the PAST all day long.

Dear Aseng,
No need to say SORRY. I already put the PAST down, but you’ve been carrying the PAST all day long.

Dear Aseng,
No need to say SORRY. I already put the PAST down, but you’ve been carrying the PAST all day long.”

Dear Aseng,

A senior monk and a junior monk were traveling together. At one point, they came to a river with a strong current. As the monks were preparing to cross the river, they saw a very young and beautiful woman also attempting to cross. The young woman asked if they could help her cross to the other side.

The two monks glanced at one another because they had taken vows not to touch a woman.

Then, without a word, the older monk picked up the woman, carried her across the river, placed her gently on the other side, and carried on his journey.

The younger monk couldn’t believe what had just happened. After rejoining his companion, he was speechless, and an hour passed without a word between them.

Two more hours passed, then three, finally the younger monk could contain himself any longer, and blurted out “As monks, we are not permitted a woman, how could you then carry that woman on your shoulders?”

The older monk looked at him and replied, “Brother, I set her down on the other side of the river, why are you still carrying her?”

—

This simple Zen story has a beautiful message about living in the present moment. How often do we carry around past hurts, holding onto resentments when the only person we are really hurting is ourselves.

We all go through times in life when other people say things or behave in a way that is hurtful towards us. We can chose to ruminate over past actions or events, but it will ultimately weigh us down and sap our energy.

Instead we can choose to let go of what doesn’t serve us anymore and concentrate on the present moment. Until we can find a level of peace and happiness in the present circumstances of our lives, we will never be content, because ‘now’ is all we will ever have.

Should Police investigate Moo for instigating/inciting Race and Religion hatred?

StartOfTheBull,
Have you book your ticket?

As AirAsia continues to expand its routes and the number of flights between Malaysia and China, the airline is also launching discounted fares to all destinations in North Asia including to Guilin, Guangzhou, Nanning, Shantou, Beijing, Shanghai and more starting from RM319 all-in one-way. Guests can also fly to other North Asian countries such as Hong Kong, Macao, Taipei, Busan, Sapporo and more from RM339 all-in one-way. These fares are now available for booking on the airasia Superapp and the website starting today until 6 Aug 2023 for the travel period between 1 Sep 2023 and 31 Mar 2024.

AirAsia Malaysia (AK) currently flies 14 routes to/from China with over 104 flights weekly from Kuala Lumpur to Guilin, Quanzhou, Guangzhou, Kunming, Shenzhen, Nanning, Shantou and Macao; Kota Kinabalu to Guangzhou, Shenzhen, Wuhan, Beijing and Macao; and Johor Bahru to Guangzhou.

AirAsia X Malaysia (D7) currently flies four routes to/from China with over 22 flights weekly from Kuala Lumpur to Chengdu (Tianfu), Beijing (Daxing), Shanghai, and Hangzhou.

CapitalA is too late for debts restructure as every creditors want their money back in full with interest.


Depreciation on right of use asset/aircaft lease
Quarter ended 31/3/2023 RM million:Quarter ended31/3/2022 RM million
Operating aircraft 213.0 135.8
Non-operating aircraft 112.4 209.5
Others 0.6 0.8
326.0 346.1

Finance costs - lease liabilities
Quarter ended 31/3/2023 RM million: Quarter ended 31/3/2022 RM million
Operating aircraft 108.1 66.9
Non-operating aircraft 61.0 93.3
169.1 160.2

Whether can earn another round that one need TA guru to advice you.
Who is the best TA guru please step forward.

I try to save humanity by prompting i3forummer to use past data, logic and reasoning to put forward their opinion/view or else very soon AI like ChatGPT will replaced human.

If you can't use past data, logic and reasoning on why you invest on a particular stock then my advise, you better put your money in FD.

Good morning,
Another good day and another one less day to D day 7 Oct 2023.

Mind me asking why use ikanbiliskering as user id?
And your reason/reasons agreed with ykyew11?

ikanbiliskering agreed with ykyew11
30/07/2023 10:09 PM

By the way those who talk the talk and walk the walk should thanks me for highlighting the negative so that they are still able to collect more CapitalA at 91 cents. So please collect more and earn more than 100%.

When you see so many people attack me for highligting the facts and figures from the past CapitalA financial report, you can know who are really panicking and desperate to lure more people to chase high.

Remember D Day for CapitalA is 7 Oct 2023. So please work harder to lure more newbies to chase high and you can download your almost going to expire stocks to them.

Posted by StartOfTheBull > Jul 30, 2023 4:57 PM | Report Abuse
You don't need to talk sense to someone who talk no sense

My comment:
Is StartOfTheBull saying CapitalA has no sense to sell their KL-Singaporecat flight at USD 22?

SIA has the business sense to sell their at USD 122.

Posted by The_JQuestion > Jul 30, 2023 11:40 AM | Report Abuse
hi lurker u compare SIA with AA??? one way KUL SIN in SIA is 559 and AA just 101... to make it look less , u change the currency in USD which is the currecny not even singaporeans use . SIA 122 AA 22... 100 dollars in USD difference

Thanks The_JQuestion on the above.
My comment: JQuestion need to ask more questions:

1. Why AA SOLD their KL-Singapore flight at USD22 while SIA sold their at USD 122? A different of USD100?

2. At USD 22 can CapitalA make any profit?

3. Q1 2023:
SIA
EBITDA ($ million): 1,505.1
Operating profit: 754.5
Profit attributable to Owners of the Company: 734.0

CapitalA:
EBITDA & Profit after tax : RM502 million & RM26 million
Why SIA net profit is about 50% of EBITDA whereas CapitalA is about a poor 5%?

SIA group:
Q1FY23/24($’M):Q1FY22/23($’M)
Full-service carrier (SIA): 737.5: 624.3
Low-cost carrier (scoot): 23.7: (51.9)
SIAEC Group (Engineering): 0.4: (4.0)

Just a very simple question Q1 SIA what is the net profit after tax compare to Q1 capitalA Group EBITDA & Profit after tax : RM502 million & RM26 million?

So what to compare CapitalA with SIA??
Most likely just because of the A.

Time is running out on CapitalA

CapitalA is at risk of trading suspension and delist if CapitalA cannot submit PN 17 regularisation plan on or before 7 October 2023

In Q12023
During the quarter, the largest short-haul airline in the group, AirAsia Malaysia recorded a strong overall load factor of 89% reaching 5.7 million passengers. AirAsia Thailand, on the other hand, posted a load factor of 92% carrying 4.58 million passengers. While AirAsia Indonesia and AirAsia Philippines posted robust load factor at 81% and 92%, with passenger carried of 1.22 million and 1.65 million, respectively.
Group EBITDA & Profit after tax : RM502 million & RM26 million

Is Q1 2023 Profit after tax of RM26 million a good result?

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 is 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.

Can someone go and read AAX and CapitalA financial report especially the Balance Sheet and tell be what are the different?

AAX start afresh after debts restructure, capital reduction and 10 to 1 share consolidation but for reason only knew to Stony CapitalA did not and now holding billions USD debts.

Yes I wrote CapitalA will limit down months ago as I expected Stony to announce the PN17 regularisation plan on time as what he himself told IB analyst and reporter:

The PN17 regularisation plan:
1.The Group expects to announce the finalised regularisation plan to Bursa Malaysia Securities in January 2023 and followed by submission for approval targeted in February 2023.

2.We have a robust plan in place and aim to have a full submission of the regularisation plan in April 2023 after finalising the audit and valuation of entities involved.

3. The revised timeline involves full submission in July 2023, with our execution plan commencing in quarter four upon obtaining all required approvals from Bursa Malaysia and relevant authorities.

4.On behalf of the Board of Directors of the Company, RHB Investment Bank Berhad wishes to announce that the Company had on 30 June 2023 submitted an application to Bursa Malaysia Securities Berhad (“Bursa Securities”) for an extension of time of an additional period of 3 months until 7 October 2023 for the Company to submit its regularisation plan to Bursa Securities.

So all Stony fans are welcome to hold CapitalA till D day 7 October 2023.

By the way all are welcome to rebut me as what I wtote is from CapitalA past financial report and my prediction on foreign exchange loss is based on CapitalA debts mostly in USD hence based on exchange rate of:

USD to MYR
30/6/2023: 4.6677
31/3/2023: 4.4125

For sure Q2 end 30/6/2023 will record foreign currency exchange loss RM XXX million

Note: All Stony fans should thank me for writing more negative news on CapitalA so that they can collect more CapitalA cheaply.

Actually I am not scare you will make money but scare you will lose your hard earned money by just following tips from forummer without even reading and understand the company financial report and end up eventually like 90+% of people loss money and disappear from i3forum

Post removed.Why?

Posted by rr88 > Jul 21, 2023 3:21 PM | Report Abuse
Aax will drop below 1.00 towards 0.80.
CapitalA will go to 2.00.
CapitalA = 1.28 (11oct2021) + [1.28 - 0.56 (double bottom 07feb2022 & 01dec2022)] = 1.28 + (1.28 - 0.56) = 2.00.

One more thing whan rr88 said CapitalA will go to RM 2.00, it can only mean you better sell CapitalA fast fast.

In Q2 2023
During the quarter, the largest short-haul airline in the group, AirAsia Malaysia recorded a strong overall load factor of 87% reaching 6.4 million passengers. AirAsia Thailand, on the other hand, posted a load factor of 89% carrying 4.6 million passengers. While AirAsia Indonesia and AirAsia Philippines posted robust load factor at 84% and 91%, with passenger carried of 1.5 million and 1.6 million, respectively.

In Q12023
During the quarter, the largest short-haul airline in the group, AirAsia Malaysia recorded a strong overall load factor of 89% reaching 5.7 million passengers. AirAsia Thailand, on the other hand, posted a load factor of 92% carrying 4.58 million passengers. While AirAsia Indonesia and AirAsia Philippines posted robust load factor at 81% and 92%, with passenger carried of 1.22 million and 1.65 million, respectively.
Group EBITDA & Profit after tax : RM502 million & RM26 million

Is Q1 2023 Profit after tax of RM26 million a good result?

What will be Q2 2023 financial result?
One thing for sure Q2 will record foreign currency exchange loss RM XXX million

USD to MYR
30/6/2023: 4.6677
31/3/2023: 4.4125

Financial end 30/9/2022
Foreign exchange loss: RM 363,873,000
Financial end 30/6/2022
Foreign exchange loss: RM 345,395,000
USD to MYR
31/9/2022: 4.6464
30/6/2022: 4.4081
31/3/2022: 4.2048

So what will be the the foreign exchange loss Q2 end 30/6/2023?
Your guess will be as good as mine.

A gentle reminder on CapitalA

CapitalA is at risk of trading suspension and delist if CapitalA cannot submit PN 17 regularisation plan on or before 7 October 2023

Repost:
How to lift CapitalA out of PN17 when CapitalA balance sheet is terrible?

Repeat.
Stony himself also find it so difficult to overcome the CapitalA Balance Sheet as at 31/3/2023 of:
Net current liabilities: RM (8,524,896,000)
And Net total assets/total equity : RM (9,376,200,000)

Repeat and remind those cannot do math: The sum is not in million or hundred million but in billion. RM (9,376,200,000)

That is why the PN17 regularisation plan keep postpone postpone postpone postpone postpone postpone postpone postpone postpone repeat ad infinitum

Delist is inevitable. (If Stony cannot come out with PN17 regularisation plan)

Om Mani Padme Hum
Om Mani Padme Hum
Om Mani Padme Hum

Come back on CapitalA D day on 7th Oct 2023 to see what is the CapitalA and AAX price.

And by the way did rr88 also saw the chart pattern on CapitalA and AAX as what he posted bolow??

Posted by rr88 > Jul 21, 2023 3:21 PM | Report Abuse
Aax will drop below 1.00 towards 0.80.
CapitalA will go to 2.00.
CapitalA = 1.28 (11oct2021) + [1.28 - 0.56 (double bottom 07feb2022 & 01dec2022)] = 1.28 + (1.28 - 0.56) = 2.00.

The initial plan to inject CapitalA airline business into Aax cancelled. Aax will go to square 1, capitalA will breakout above 1.28.

Yr brain is too small compared to master's brain. Thats why you cant see all these.

Please come back end of next month for AAX quarter 2 result to see whether the Core EPS is more than RM 1.


Posted by klee > Jul 28, 2023 10:49 AM | Report Abuse
aax now at 2.4 is just 24 sen before 10 into 1 consolidation,whats the bigggggg deal 2.4?Next QR aax is gonna make RM1 per share,mind you

Must as well claim bought at 30 cents?

Maybank Analyst gave AAX
FY2023E: Core EPS of RM 0.358
FY2024E: Core EPS of RM 0.574

The one saying Next QR aax is gonna make RM1 per share, must be drunk on Kool-Aid and know nuts on fundamentals.

April-June 2023
AirAsia X’s total fleet size stood at 17 A330s as of the end of June 2023, with 11 aircraft now activated and operational.
818,422 seats capacity
621,984 passengers carried
Passenger Load Factor ("PLF") of 76%

Jan-March 2023
AirAsia X’s total fleet size remained as 14 A330s as of the end of March 2023, with nine aircraft now activated and operational,
630,069 seats capacity
504,476 passengers
Passenger Load Factor ("PLF") of 80%

Posted by EngineeringProfit > Jul 28, 2023 9:07 AM | Report Abuse
Once lifted, will CapitalA overtake AAX?

How to lift CapitalA out of PN17 when CapitalA balance sheet is terrible?

Repeat.
Stony himself also find it so difficult to overcome the CapitalA Balance Sheet as at 31/3/2023 of:
Net current liabilities: RM (8,524,896,000)
And Net total assets/total equity : RM (9,376,200,000)

Repeat and remind those cannot do math: The sum is not in million or hundred million but in billion. RM (9,376,200,000)

That is why the PN17 regularisation plan keep postpone postpone postpone postpone postpone postpone postpone postpone postpone repeat ad infinitum

Delist is inevitable. (If Stony cannot come out with PN17 regularisation plan)

Om Mani Padme Hum
Om Mani Padme Hum
Om Mani Padme Hum

Bursa is governed by listing rule and regulation and cannot impose new condition of Upliftment of both or nothing. Each must has the own merit to be uplifted out of PN17.

Posted by joyvest > Jul 28, 2023 9:03 AM | Report Abuse
Yes, AAX is technically out of PN 17 but not Cap A . Bursa's stand is very clear and firm, Upliftment of both or nothing. To Bursa, both are not mutually exclusive.

CapitalA is at risk of trading suspension and delist if CapitalA cannot submit PN 17 regularisation plan on or before 7 October 2023

AAX is eligible to have its PN17 classification lifted as its shareholders’ equity has already exceeded MYR40.0m and it has delivered 3 consecutive quarters of profits. On the other hand, CAPITALA has not.

Just look at Lctitan result and you know bad quarter result coming.

What is the odd/probability that after 7 Oct 2023, Bursa will issue notification of trading suspension to CapitalA and on the 6th market day after the date of notification of suspension proceed to suspend CapitalA and de-list the Company, subject to the Company's right to appeal against the delisting?

Post removed.Why?

Deadline: on or before 7 October 2023

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

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.

Repost:
CAPITALA needs AAX more than AAX needs CAPITALA. As we explained on page 15, AAX is eligible to have its PN17 classification lifted as its shareholders’ equity has already exceeded MYR40.0m and it has delivered 3 consecutive quarters of profits. On the other hand, CAPITALA has not.

CAPITALA has to dispose its short-haul airlines (i.e. 100% of MAA, 45% of TAA, 49% of IAA and 40% of PAA) in exchange for new AAX shares to generate a gain on disposal that will more than neutralise its negative shareholders’ equity which stood at MYR5.55b as at end-1Q23 to lift its PN17 status as well. Thus, we believe that AAX is in a position to negotiate better terms for itself.

AAX likely to be an associate, not a subsidiary of CAPITALA. A common fear among investors we spoke to is that AAX will issue an overwhelming number of new shares to CAPITALA that will dilute the interests of existing AAX shareholders. CAPITALA already owns 13% of AAX. We doubt that AAX will issue new shares to CAPITALA to the point that the latter owns more than 50% of the former. This would mean that AAX becomes a subsidiary of CAPITALA and the latter would have to re-consolidate the negative shareholders’ equity of the short-haul airlines.

Instead, we believe that AAX will issue new shares to CAPITALA but to the point that the latter owns less than 50% of the former. This would mean that AAX becomes an associate of CAPITALA instead which will allow the latter to de-consolidate the negative shareholders’ equity of the short-haul airlines.

According to our calculations, AAX could issue 317.6m new shares or 71% of its existing number of shares to CAPITALA for the latter to raise its ownership of the former to 49% but in the process, AAX’s core net profit will triple. Insummary, the acquisition of CAPITALA’s short-haul airlines ought to be EPS accretive for AAX

My comment: It look like Maybank IB analyst is a better magician than Stony.
With issuing 317.6 million new share of AAX to CapitalA to acquire (100% of MAA, 45% of TAA, 49% of IAA and 40% of PAA). Capital A will then generate a gain on disposal that will more than neutralise its negative shareholders’ equity which stood at MYR5.55b.

So what is he smoking? Stony need one too.

At the end the net liabilities of abt RM 5.55 billions in 100% MAA and share of net liabilities abt RM 3.82 billion in (45% of TAA, 49% of IAA and 40% of PAA) will belong to who??

Repost:
CAPITALA needs AAX more than AAX needs CAPITALA. As we explained on page 15, AAX is eligible to have its PN17 classification lifted as its shareholders’ equity has already exceeded MYR40.0m and it has delivered 3 consecutive quarters of profits. On the other hand, CAPITALA has not.

CAPITALA has to dispose its short-haul airlines (i.e. 100% of MAA, 45% of TAA, 49% of IAA and 40% of PAA) in exchange for new AAX shares to generate a gain on disposal that will more than neutralise its negative shareholders’ equity which stood at MYR5.55b as at end-1Q23 to lift its PN17 status as well. Thus, we believe that AAX is in a position to negotiate better terms for itself.

AAX likely to be an associate, not a subsidiary of CAPITALA. A common fear among investors we spoke to is that AAX will issue an overwhelming number of new shares to CAPITALA that will dilute the interests of existing AAX shareholders. CAPITALA already owns 13% of AAX. We doubt that AAX will issue new shares to CAPITALA to the point that the latter owns more than 50% of the former. This would mean that AAX becomes a subsidiary of CAPITALA and the latter would have to re-consolidate the negative shareholders’ equity of the short-haul airlines.

Instead, we believe that AAX will issue new shares to CAPITALA but to the point that the latter owns less than 50% of the former. This would mean that AAX becomes an associate of CAPITALA instead which will allow the latter to de-consolidate the negative shareholders’ equity of the short-haul airlines.

According to our calculations, AAX could issue 317.6m new shares or 71% of its existing number of shares to CAPITALA for the latter to raise its ownership of the former to 49% but in the process, AAX’s core net profit will triple. Insummary, the acquisition of CAPITALA’s short-haul airlines ought to be EPS accretive for AAX

My comment: It look like Maybank IB analyst is a better magician than Stony.
With issuing 317.6 million new share of AAX to CapitalA to acquire (100% of MAA, 45% of TAA, 49% of IAA and 40% of PAA). Capital A will then generate a gain on disposal that will more than neutralise its negative shareholders’ equity which stood at MYR5.55b.

So what is he smoking? Stony need one too.

At the end the net liabilities of abt RM 5.55 billions in 100% MAA and share of net liabilities abt RM 3.82 billion in (45% of TAA, 49% of IAA and 40% of PAA) will belong to who??