KUALA LUMPUR (July 27): Maybank Investment Bank (Maybank IB) Research has re-initiated coverage on AirAsia X Bhd (AAX) with a “buy” rating at RM1.80 and target price (TP) of RM3.58 and said post-Covid-19, fares are a lot higher and aircraft lease rates are sharply lower relative to pre-pandemic.

Source: Maybank IB
In a note on Thursday (July 27), Maybank IB Research aviation analyst Samuel Yin Shao Yang said that moreover, AAX is now effectively debt-free.

He forecast record core net profit of RM160.1 million for FY2023 and RM256.5 million for FY2024.

“Ascribing 10 times CY2023 estimated PER (price-earnings ratio) to AAX, we derive a TP of RM3.58.

“With nearly 100% upside, we re-initiate coverage on AAX with a 'buy' call. Catalysts are: (i) lifting of Practice Note 17 classification; (ii) more upside from 49%-owned Thai AirAsia X; and (iii) more upside from acquisition of Capital A Bhd’s short-haul airlines,” he said.

AAX NOSH: 447 Million
More easy to push/goreng compare to CapitalA NOSH of 4,169 Million

According to this report , the profit from their subsidiary , Thailand Air Asia is yet to be included due to some regulation issue:

Need to clear the unrecognised amount of the Group's share of loss of TAAX which have not been equity accounted for amounted to RM 453.4 million before can recognised share of profit.


TAAX recorded a net profit of RM 63.96 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 RM 453.4 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.

Yes by all mean trade if you are good at reading Trend but do not be the last to hold the bag when Stony finally come out with the PN17 regularisation plan or Bursa lose patience with Stony repeat postpone and finally suspense and delist CapitalA

Someone talk big only earnning 5 figure but when challenge to show his CapitalA holding amt and cost tak berani/chicken out and run away with tail between legs.

I do not need to tell lie while tan sri Stony has been caught telling lie repeatedly when come to PN17 regularisation plan.

Or maybe Stony is telling the truth but cannot decide which plan A, B, C, D till Z to use.

If you want to trade based on TA then say so and you are free to trade.

But if you want to invest then someone must be kidding when Stony keep postpone PN17 regularisation plan.

Posted by VincentTang > Jul 27, 2023 11:49 AM | Report Abuse
HUAT AH. Go back AIRASIA glory time RM4.

Market Cap: 3,752 Million
NOSH: 4,169 Million
Avg Volume (4 weeks): 12,862,777
4 Weeks Range: 0.785 - 0.915
4 Weeks Price Volatility (%):
88.46%
52 Weeks Range: 0.56 - 0.915

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

This is what AAX promised to do to get out of PN17 then.

Following the debt restructuring, it is also proposing a renounceable rights issue of new shares to raise gross proceeds of up to RM300 million from its existing shareholders, as well as a proposed issuance and allotment of new AAX shares to raise another RM200 million.

KUALA LUMPUR (May 23): Medium-haul low-cost airline AirAsia X Bhd (AAX) said the proposed private placement to raise RM50 million would be a "timely and strategic means" for the airline to raise funds, which will primarily be used for the reactivation and maintenance of its aircraft fleet.

Quarter end 31/03/2023
RM'000
Maintenance and overhaul8 (63,490)

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.

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.

So PP of RM50 million able to support the Maintenance and overhaul for how many quarter?

The quarter percentage point increase will bring the fed funds rate to a target range of 5.25%-5.5%.

So interest hike again. Next few quarters, again Share of Profit is reduced due to increase in interest expenses.

What will be the cost incurred to activate 2 (two) A330s aircraft?

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%

Federal Reserve data indicates that as of Q4 2021, the top 1% of households in the United States held 32.3% of the country's wealth, while the bottom 50% held 2.6%.

India's top 1% owned more than 40.5% of its total wealth in 2021, according to a new report by Oxfam. In 2022, the number of billionaires in the country increased to 166 from from 102 in 2020, the report said. Meanwhile, it added that the poor in India "are unable to afford even basic necessities to survive".16 Jan 2023

So the rich get richer and the poor get poorer.

Without the evil who digging resources out of the ground do you think any good industries able to make popular consumer products, like smartphones/computer or cars and etc.

Consumers are the ultimate evil so please consume less and be less evil.

Page: 5 (2022 AR)
A major turnaround is planned in the second half of 2023 to ensure we maintain operational safety and uphold plant integrity to deliver excellent results to all our stakeholders.

Question 2: When is the planned plant shutdown date for this schedule major turnaround and the planned duration for this major turnaround?

Response from HRC:
The plant shutdown in conjunction with the Major Turnaround is scheduled to take place in mid-June 2023, the duration of which will go on for approximately seventy (70) days.

I believe i3 forum is a good place for everyone to post their diverse opinions/views on investment so that all can benefit from the diverse information and make their informed-investment decision.

As should everyone/anyone believe in God?
That is an answer between everyone/anyone and everyone/anyone creator.

As a trade no one will stop you to bottom fishing but as an investment the above article is very useful in telling you, you need to wait till 2031/32 to see a positive cashflow.

Why claim ignorance when KYY and later OTB had leave JAKS for good and red flagged poor/bad management and trustworthiness/integrity of BOD especially ALP?

Posted by Asengkianjoo > Jul 24, 2023 12:09 PM | Report Abuse
Dk is my good friend , he does not agree with what you did. He will slap you .

Most likely above is false. If it is true then Asengkianjoo can just call up DK and make clarification with DK and not simply talking without sense in this forum.

Quote,"I received a request to do a comprehensive cash flow projection based on the confidential table of capacity charges I received recently. He requested for NPV valuation based on the net cash flow using 10-12% discountrequested for NPV valuation based on the net cash flow using 10-12% discount factor. He understood that it is very difficult to be precise on a long term projection and he quoted me saying "You don't need to know the weight of a man to tell if he is fat" unquote

So is Aseng saying?
1. It was DK that provide the confidential table of capacity charge to Gotyou.
2. Gotyou use Aseng good friend DK' inaccurate DCF to mislead the readers here.

My question since DK is an accountant then I would not thik DK will ever make a request to Gotyou for NPV valuation based on the net cash flow using 10-12% discount?

Most likely all the above have nothing to do with DK.

The current problem on solid state battery is it cannot be mass produce yet and the solid electrode is brittle and crack during rough driving

Firstly, one of the most significant challenges lies in the manufacturing process. Solid-state batteries replace the liquid or gel electrolyte found in lithium-ion batteries with a solid one. This shift in material requires a complete overhaul of the manufacturing process, demanding significant investment in new production equipment and facilities. Additionally, the solid electrolyte’s sensitivity to moisture and air necessitates stringent environmental controls during production, further escalating costs.

The second pitfall revolves around the issue of energy density. While solid-state batteries theoretically offer higher energy density, achieving this in practice has proven to be a daunting task. The interface between the solid electrolyte and the electrodes poses a significant challenge. This interface must be perfectly seamless to allow for efficient ion transport, a feat that is difficult to achieve with current technology. Any imperfections can lead to increased resistance, reducing the battery’s overall energy density.

Thirdly, the durability of solid-state batteries is another area of concern. While they are touted for their long life spans, the reality is that solid-state batteries can degrade over time. The stress caused by repeated charging and discharging cycles can lead to the formation of cracks in the solid electrolyte, impairing the battery’s performance. Moreover, the solid electrolyte’s brittleness can lead to mechanical failures, further compromising the battery’s longevity.

Lastly, there’s the issue of temperature sensitivity. Solid-state batteries operate optimally at high temperatures, which is not ideal for many applications, particularly electric vehicles. Operating these batteries at lower temperatures can result in poor ion conductivity, leading to reduced performance. Therefore, additional systems may be needed to maintain optimal operating temperatures, adding to the complexity and cost of the overall design.

Inari is an associate company of Insas.
Insas still hold 537,008,575 inari share. So inari share alone is worth how much to Insas?

Post removed.Why?

Stagnation mean no pay rise, interest almost zero and properties you bought 10 years ago remain the same price.

So think carefully what you wish for.

Discount factor of 10-13 % is too high.
Imagine if your bank borrowing is 10-13% interest rate then no business can survive.

And with LSS4 solar project IRR of low single digit and if you applied NPV value with 10-13% discount rate then for sure the NPV cannot cover the peojwct cost/capital employed.

Normaly the discount rate used for NPV calculation should be about the country inflation rate.

Repost:
Correction:
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.

Jul 18, 2023 7:49 AM | Report Abuse
All this while 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

Success is never about you never failed but how you come back from your failure.

Do you come back stroger or cry father cry mother and blaming everyone but yourself???

Why should I do that????

I am trying to save Tony from his own repeat lies to protect the feeling/money of shareholders. Why not for once tell us the truth, shareholders deserved the truth and the truth shall set all free.

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

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.

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

Delist is inevitable.
Om Mani Padme Hum
Om Mani Padme Hum
Om Mani Padme Hum

Just a gentle reminder,
As at 31/3/2023:
CapitalA is an insolvent company with
Net current liabilities: RM (8,524,896,000)
And Net total assets/total equity : RM (9,376,200,000)
Avoid.

AirAsia X applies to exit PN17 status
SEPANG, 21 July 2023 - AirAsia X Berhad (“AAX”) is seeking a relief from Bursa Malaysia Securities Berhad (“Bursa Securities”) to exempt the airline from the requirement to submit a Proposed Regularisation Plan as required under Paragraph 8.04(3)(A) of the Main Market Listing Requirements (“MMLR”) of Bursa Securities (“Proposed Relief”). Subsequently the airline is also seeking the upliftment of AAX from being classified as a Practice Note 17 (“PN17”) Affected Listed Issuer (“PN17 Upliftment”).

From the onset of the company triggering suspended criteria under PN17 from 30 July 2020, AAX has undertaken a broad range of measures and corporate exercises to improve its financial position. The first of these being a set of restructuring exercises which incorporated a debt restructuring scheme, share capital reduction of 99.9% of the issued share capital of AAX, share consolidation and a revision of its business plan.

The revised business plan incorporated key elements including a leaner and more viable cost structure with primary focus on medium-haul flight operations, a rationalised network plan which saw the termination of unprofitable routes and recalibration of focus on routes with proven loads and yield performance in AAX’s core markets.

AAX has also during this time deferred all investments in new and immature routes, apart from restructuring all of its contracts and arrangements in relation to its fleet and overall operations to better align to its future size and requirements. In its right-sizing strategy, AAX had also undertaken plans for manpower consolidation and optimisation, ensuring that its workforce is strictly aligned with its operational requirements.

With the continued efforts set forth above, AAX has managed to turn around its financial position from 12 quarters of losses since the quarter ended 30 June 2019 to registering three consecutive quarters of net profit for the quarters ended 30 September 2022, 31 December 2022 and 31 March 2023. As at 31 March 2023, AAX has also recorded a positive shareholders’ equity.

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.

AAX CEO Benyamin Ismail said: “The restructuring exercises that we have undertaken in the past couple of years allowed us to transform and reset AAX towards a more sound and viable financial position. Since our emergence from hibernation back in April 2022, we are pleased to share that AAX’s operational and financial performances have been improving in line with the increasing demand that we observe across all our core markets. Improved demand for travel has been evident in the last three quarters when we recorded passenger load factors of 73%, 79% and 80% for the periods ended 30 September 2022, 31 December 2022 and 31 March 2023 respectively.

“We have managed to maximise the recovery of all of our revenue segments even though some of our fleet remain on ground. As of 31 March 2023, AAX’s cash position is healthy at RM192.37 million, without any outstanding debts, and has sufficient working capital for 12 months. In addition, with the recent completion of placement of an aggregate of 32,258,066 new AAX Shares to AHAM Asset Management Berhad, AIIMAN Asset Management Sdn Bhd and Lavin Group Sdn Bhd at an issue price of RM1.55 per AAX Share, we have raised net proceeds of approximately RM50.00 million, strengthening AAX’s equity position and ultimately granting AAX the platform to gradually re-establish a firm equity base. This is a strong testament that confidence in AAX is growing and future prospects are strong.”

Bursa listing requirement and regulations apply to all listed companies in Bursa.

ComponentX,
Just for your information on what happen to Scomi Energy after Bursa Malaysia Securities Bhd (Bursa Securities) rejected its application for a further extension of time to submit its Practice Note 17 (PN17) regularisation plan.

PETALING JAYA: Scomi Energy Services Bhd’s shares will be suspended on July 24, with a possible delisting on July 26 after Bursa Malaysia Securities Bhd (Bursa Securities) rejected its application for a further extension of time to submit its Practice Note 17 (PN17) regularisation plan.

Bursa Securities announced its decision in a filing on the company today. It said if Scomi Energy files an appeal against the delisting by July 21, the July 26 delisting will be deferred pending a decision on the appeal.

“However, Bursa Securities will proceed to suspend the trading of the company’s securities on July 24 even though the decision on the company’s appeal is still pending,” it added.

The company filed the application for more time to submit its regularisation plan on May 17, asking for the May 31 deadline to be pushed to Nov 30.

The regulator said Scomi Energy’s application was rejected as the company had not demonstrated to its satisfaction any material development towards the finalisation and submission of the regularisation plan to the regulatory authorities.

“Upon the de-listing of the company, it will continue to exist but as an unlisted entity. The company is still able to continue its operations and business and proceed with its corporate restructuring and its shareholders can still be rewarded by the company’s performance.

“However, the shareholders will be holding shares which are no longer quoted and traded on Bursa Securities,” it added.

Scomi Energy is a global technology company in the energy and logistics industries. Its business segments are drilling services, marine services, and development and production asset and services.

The company fell into PN17 status in January 2020, when its shareholders’ equity on a consolidated basis fell below 50% of its issued share capital.

Windy1974,
Your advise noted with thanks.

By the way delist from Bursa is not the end of CapitalA. CapitalA will still business as usual. The only different is CapitalA will be a private company and Stony do not need to lie everytime the dateline for submitting PN17 regularisation is near.

As a private company Stony will have a free hand to restructure the business and hopefully come back stronger.

I know AA had done greater good for society with an affordable air travel that is why I never even ask for refund.

I can't stand is many forummers keep giving misinformation and high TP for CapitalA ignoring the Balance sheet and even implied lease liabilities/BS is just an accounting matter and can be written off with a stroke of pen.

I would not be here defending my view on the important of FA or reading and understanding the financial report: P&L statement, cash flow and balance sheet if not for them.

Why do you think I hate AA?
I have not problem with AA but only with Stony for his too many bollywood dance. For once can the real Tony please tell the truth and walk the walk.

Repost:
Your JHDP cash flow projection based on Q1 2023
30% profit sharing amounts to RM28m per quarter.
100% profit on full year projection = 28 x 4 x 100/30 = RM373m
Cash inflow = profit + depreciation + interest expense
Cash inflow = 373 + 318 + 265 = RM956m

Is wrong because the interest expense is based on 2022 figure and not the current quarter figure.

Summarised adjusted statements of profit or loss and other comprehensive income
JPP Group
2022 2021
RM RM
Adjusted profit for the financial year, representing total comprehensive
income for the financial year 520,633,162 469,043,075

Included in total comprehensive income are:
Revenue 2,553,073,558 3,011,637,528
Amortisation/Depreciation (317,750,163) (296,585,635)
Interest income 3,493,288 1,736,511
Interest expense (265,209,747) (275,461,575)
Taxation (17,199) (1,530,307)

Cash inflow 2021= 469.04+296.59+275.46=1041.09 million
2022: 520.63+317.75+265.21= 1,103.59 million

Project IRR of 12 % for period of 25 year base on USD 1,870 million
ZERO = - 1,870 + A1/(1+0.12) +A2/(1+0.12)^2+……………till A25/(1+0.12)^25

USD 1,870= 7.8431A thus A= USD 238.425 million

Project payback period of 1870/238.425= 7.8 years
21/07/2023 9:01 AM

Your JHDP cash flow projection based on Q1 2023
30% profit sharing amounts to RM28m per quarter.
100% profit on full year projection = 28 x 4 x 100/30 = RM373m
Cash inflow = profit + depreciation + interest expense
Cash inflow = 373 + 318 + 265 = RM956m

Is wrong because the interest expense is based on 2022 figure and not the current quarter figure.

Summarised adjusted statements of profit or loss and other comprehensive income
JPP Group
2022 2021
RM RM
Adjusted profit for the financial year, representing total comprehensive
income for the financial year 520,633,162 469,043,075

Included in total comprehensive income are:
Revenue 2,553,073,558 3,011,637,528
Amortisation/Depreciation (317,750,163) (296,585,635)
Interest income 3,493,288 1,736,511
Interest expense (265,209,747) (275,461,575)
Taxation (17,199) (1,530,307)

Cash inflow 2021= 469.04+296.59+275.46=1041.09 million
2022: 520.63+317.75+265.21= 1,103.59 million

Project IRR of 12 % for period of 25 year base on USD 1,870 million
ZERO = - 1,870 + A1/(1+0.12) +A2/(1+0.12)^2+……………till A25/(1+0.12)^25

USD 1,870= 7.8431A thus A= USD 238.425 million

Project payback period of 1870/238.425= 7.8 years

Jaks goreng down for PP to friendly/relate party.

Post removed.Why?

Since AAX already decided to go seperate way, the only option for CapitalA is delist from Bursa so that Stony can have a free hand to restructure CaplitalA and make a come back when the Balance Sheet sudah canteeeeeeeeeeeeeeek.

So now AAX CEO go solo and no more bollywood dance duo with Stony?

AAX CEO Benyamin Ismail said: “As we returned to black on the back of a robust recovery across all key metrics, we are progressing well on our regularisation strategy to uplift us from the PN17 status.

“The strategy being formulated is expected to entail a proposed acquisition of Capital A Berhad’s aviation arm, AirAsia Berhad (AAB) and AirAsia Aviation Group Limited (AAAGL), comprising AAAGL’s respective shareholdings in AirAsia Indonesia, AirAsia Philippines and AirAsia Thailand. Following the acquisition, AAB, AAAGL and AAX will form a consolidated aviation group, subject to the approval of our stakeholders and relevant regulatory authorities.

“While all airlines under the consortium will remain separate with regard to the operations, the acquisition of the short-haul airlines under one consolidated group will create synergies with AAX’s mid-range operations. Leveraging the group’s wide network of over 130 destinations will provide us the opportunities to expedite our recovery after the completion of the regularisation plan.

“The strategy is not only expected to strengthen our balance sheet and cash flows but create value for the Company as well as our shareholders in the longer term.

“We will make the necessary announcement in relation to further material developments accordingly.”

Subject to receiving the requisite approvals necessary for the proposed regularisation plan, including from AAX board of directors, Bursa Malaysia Securities, AAX shareholders and other relevant authorities, AAX expects to complete the implementation of the regularisation plan by July 2023.

Dear MR. MANOJ DEVADASAN
General Counsel / Company Secretary / Manager-Human Resources/Compliance Officer

Thank you for alerting me that the Petronm 64th AGM summary of proceeding was posted on Petronm’s website;

My intention of an interim dividend during Petronm announcing the Q3 financial result at end Nov and payment on Dec or Jan is because most people would be very grateful to receive an extra income during year end or beginning of the year for festival celebration.

Currently I am monitoring Refine Finished Products and Brent crude price:

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

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

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

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

Petronm's retail station network should provide a stable income while the refinery should make some profit at current crack spread.

Hopefully this year earning will be better than last year and I am looking forward to another year of good dividend

Thank you
Have a good day

Best Regards
Lee Soon Sheng

Posted by Gotyou > Jul 19, 2023 5:48 PM | Report Abuse

https://klse.i3investor.com/web/blog/detail/gotyou/2023-07-19-story-h-...


Quote:
"I can't provide detail information on the charge rates. All I can reveal is that the capacity charge rate gradually reduced by half mid way through the concession period and further reduced to one third towards the end of the concession.

Although there is NO ASSURANCE that the capacity charge rates for JHDP follow the same pattern as the rate table provided to me, I hereby declare that my previous article (below link) may be inaccurate as the assumption of uniform stream of revenue from JHDP is likely invalid. If so, the revenue from JHDP will decline gradually over the concession period.

As the decline in capacity charge over the concession period is quite substantial, so is the reduction in revenue of JHDP." unquote


Gotyou,
Are you saying the wawasan 2030 also gone with the wind. After payoff the borrowing by 2030 the 2031-2045 NP also would spike up because the revenue will drop?

Correction:
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.

Annual report 2022 page:130

During the financial year, the Company issued:
(a) 45,000,000 new ordinary shares pursuant to Company’s Share Grant Plan (“SGP”) under Long Term Incentive Plan (“LTIP”); and
(b) 3,000,000 new ordinary shares through exercise of LTIP at issue price of cash RM0.237 for a total cash
consideration of RM711,000.

Page:144
Share Option Plan (“SOP”)
Movements in the number of share options and the exercise price are as follows:
Group and Company
Number of share option
2022 2021
Unit Unit
At 1 January 87,473,619 15,673,619
Additions 57,000,000 71,800,000
Exercised (3,000,000) -
At 31 December 141,473,619 87,473,619

In the previous financial year, no share options were exercised

Share Grant Plan (“SGP”)
Movements in the number of shares granted and vested are as follows:
Group and Company
Number of shares
2022 2021
Unit Unit
At 1 January - -
Granted 45,000,000 -
Vested (45,000,000) -
At 31 December - -

The closing share price at the date of granting was RM0.26 (2021: Nil) per ordinary share.

AAX did not make profit before Covid and most likely will not make profit after covid because low cost/budget business model on long haul flight is not profitable unlike short haul flight where plane turnaround is short.

gohkimhock the dumb analyst from Kenanga who issued an extremely low price for Inari should be sacked with immediate effect. Has no experience in investing and knowledge to rate a stock.
15/07/2023 2:03 PM

Do you think kenanga analyst is allowed to give high TP when Kenanga IB has vested interest in cash settle call warrants below?

Type: CALL WARRANTS
Sector: TECHNOLOGY
Listing Date: Nov 30, 2022
Maturity Date: Oct 16, 2023
Issue Size: 35,000,000
Exercise Price: MYR 2.50
Ratio: 3 : 1
Underlying Stock: INARI
Avg Volume (4 weeks): 515,157
4 Weeks Range: 0.135 - 0.235
52 Weeks Range: 0.065 - 0.235
Additional Info
Issuer: KENANGA INVESTMENT BANK BERHAD
Description: EUROPEAN STYLE NON-COLLATERALISED CASH-SETTLED CALL WARRANTS