Saudi Arabia slashes oil production and threatens to do 'whatever is necessary' to boost prices
The move is likely to inflame tensions with US President Joe Biden and risks reigniting inflation in Britain and Europe

By
James Titcomb
4 June 2023 • 7:45pm
Saudi Minister of Energy Prince Abdulaziz bin Salman al-Saud arrives for the 35th OPEC meeting Vienna
Saudi Arabia has announced plans to cut its oil production by 1 million barrels per day (bpd) as the Kingdom pledged to do “whatever is necessary” to prop up sagging prices.

Oil prices were expected to jump on Monday after the surprise unilateral decision by the Gulf state

Good morning i3lurker,
I am not a smoker.
3iii is right. My current wealth is from my career advacement employed in the real economy producing good and services, which create real wealth for the economy, boss, workers and society.

I had yet to make my million from stock market but that day will come.

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ Too many smart brains are trying to make money from financial assets.
They are better employed in the real economy producing good and services, which create real wealth for the economy.
31/05/2023 4:31 PM

Forget holidays abroad, even eating out is a luxury for many M40s (Poll Inside)
facebook sharing buttontwitter sharing buttonwhatsapp sharing buttontelegram sharing buttonlinkedin sharing button
By KHOO GEK SAN
NATION
Sunday, 04 Jun 2023
PETALING JAYA: A business owner who was once in the upper-income bracket has been forced to downgrade her lifestyle due to the impact of the Covid-19 pandemic and increasing cost of living.

Just a gentle reminder:
Technically CapitalA is an insolvent company. Period

As at 31/3/2023: As at 31/12/2022
RM'000: RM'000
Net current liabilities: (8,524,896): (8,509,066)

Equity
Owner of the Company: (5,553,254): (5,725,093)
Non-controlling interests: (3,822,946): (3,791,865)

With Net current liabilities of RM(8,524,896,000) can CapitalA stay afloat for the next 12 months?

Q1 ended 31/3/2023
Revenue: RM 2,529,713,000
NP: RM 26,013,000
NP to SH: RM 57,095,000
EPS: 1.40 cents
NAPS: RM - 1.33

Ular,
Some year back stockraider even win his bet with Philip Insas Vs QL

Now I'm trying to repeat what stockraider has done:

Stock: [INSAS]: INSAS BHD
Apr 8, 2023 11:07 PM | Report Abuse

Since insas is my 50% holding and Pchem is Philip 38% holding.
1 year bet insas RM 0.775 vs Pchem RM 7.50.

The race is on Insas break RM 1.03 or Pchem break RM 10 in 1 year time.

After that I might challenge 3iiii.

By the way CapitalA is an insolvent company. Period

He who calls names is called that himself.

During covid we were not allowed to travel in commercial plane.

We travel in boss private jet park and services in Singapore and come with Singapore pilot, co-pilot and stewardess

As a default option, residential consumers in Singapore buy electricity from SP Group, a market support services company regulated by EMA. The tariff set by SP Group is reviewed every quarter, and is regulated by EMA to reflect the actual cost of electricity.

This tariff comprises two key components – fuel cost and non-fuel cost.

The fuel cost, or cost of imported natural gas, is tied to oil prices by commercial contracts. This changes depending on global market conditions. The non-fuel cost is the cost of generating and delivering electricity to homes.

Find out more about past electrical tariffs from the SP Group website


Breakdown of Electricity Tariff

Fuel cost
This component of the tariff is calculated using the average of daily natural gas prices in the first two-and-a-half month period in the preceding quarter. For example, the average natural gas price between April and June is used to set the tariff for July to September.

This helps to smoothen out the impact of any large swings in the oil markets, while ensuring electricity tariffs are updated to reflect market conditions.

Around 95% of Singapore's electricity is generated from imported natural gas, the prices of natural gas are indexed to oil prices. This is the market practice in Asia for natural gas contracts.

Non-fuel cost
This part of the tariff reflects the cost of generating and delivering electricity to consumers. It includes:

Power Generation Cost
This covers mainly the costs of operating the power stations, such as the manpower and maintenance costs, as well as the capital costs of the stations.
Network Costs
This is to recover the cost of transporting electricity through the power grid.
Market Support Services (MSS) Fee
This is to recover the costs of billing and meter reading, data management, retail market systems as well as for market development initiatives.
Power System Operation and Market Administration Fees
These fees are to recover the costs of operating the power system and administering the wholesale electricity market.

For households, the electricity tariff (before GST) will decrease from 28.95 to 27.43 cents per kWh for the period 1 April to 30 June 2023. The average monthly electricity bill for families living in HDB four-room flats will decrease by $4.69 (before GST).Mar 31, 2023
https://www.spgroup.com.sg › ...PDF
MEDIA RELEASE ELECTRICITY TARIFF REVISION FOR THE PERIOD 1 APRIL ...

So customers need to pay for the price of the most inefficent producers. That did no sound right for Singapore that emphasis in efficiency and meritrocracy.

I3lurker,
Now you know why I never bother to ask for refund.

AAX quarter end 31/3/2023:
Variance results against preceding quarter

The Group's EBITDA more than doubled to RM360.3 million for the quarter under review, against the EBITDA of RM170.3 million in the preceding quarter ended 31 December 2022, primarily due to a 62% increase in
revenue. This is backed by the 47% increase in capacity to 630,069 (preceding quarter Dec'22: 427,384) with a maintained load factor of 80%.

Operating costs continue to be impacted by the weakening of currency against US Dollar albeit cushioned by the favourable fuel price movements (Q1'23: USD116/barrel; preceding quarter Dec'22: USD128/barrel). The Group's profits were further boosted by the reversal of provisions on debts and investments amounting to RM265.9 million.

So without the reversal of provisions on debts and investments amounting to RM265.9 million what will be the EBITDA and NP?

STony is not even dare to put his money where his mouth is.
CapitalA last RI is a 7-YEAR REDEEMABLE CONVERTIBLE UNSECURED ISLAMIC DEBT SECURITIES ("RCUIDS") AT NOMINAL VALUE OF RM0.75 with profit payment of 8% per year and with free warrants.

Power price will come down in tandem with NG price. The delay effect that cause quarter end 31/3/2023 a big profit.

Competative tendering mean the lower bidder will get the jobs.

https://tradingeconomics.com/commodity/natural-gas

Is a Profit after tax of a mere RM 26 million able to pay any pricipal sum owed to the creditors , lenders and lessors?

Without paying the principal sum then how to clear the debts?

CapitalA quarter ended 31/3/2023
Group Revenue : RM2.5 billion
Group EBITDA & Profit after tax : RM502 million & RM26 million

Profit after tax is a mere RM 26 million

It will take more than 10 years or maybe 20 years to pay back what were owed to the creditors , lenders and lessors pricipal with interest.

Then what will shareholders get?

It is still STony fault for delaying the debts restructure of CapitalA for reasons only knew to him.

Look at Malaysia airline and AAX with debts restructure that clean the Balance sheet, they are now in a better position to make good net profit.

A very simple answer why for the past many quarters the NP of Ytlpower were flat but only last quarter big profit from power generation is most likely the sudden collapse of international NG price.

Again think CapitalA with Net current liabilities of RM(8,524,896,000) can CapitalA stay afloat for the next 12 months?

i3lurker,
"I Cannot teach anybody anything I can only make them think"
At least some are start thinking except one tikus

If you pay 5 for assets of negative 50 then your balance sheet will make a gain in non current assets goodwill on consolidation of 55.

Yes ks5S is right. Revenue super growth by 6 - 9 X and liabilities by many many X. Very very good time is coming

Bob,
Me trying to choreography STony new bollywood dance move

After that AAX will need another roud of debts restructure, capital reduction and XX to 1 share consolidation.

CapitalA shareholders will get AAX share for free and AAX shareholders will get capitalA aviation with billions in liabilities. That is Stony's PN17 regularisation plan for now.

The only worries is STony keep saying CapitalA PN17 regularisation plan due in July 2023 is to divest its aviation group to AirAsia X in exchange of shares for subsequent distribution to its shareholders.

So AAX need to issue how many billions AAX to CapitalA and the CapitalA aviation come with how many billions liabilities?

CapitalA as at 31/3/2023: As at 31/12/2022
RM'000: RM'000
Net current liabilities: (8,524,896): (8,509,066)

Equity
Owner of the Company: (5,553,254): (5,725,093)
Non-controlling interests: (3,822,946): (3,791,865)

Stony is very very afraid of Stanley Choi Chiu Fai cut him to pieces and fed its to the dogs, if price drop further.

But that is the inevitable outcome.

STony (you're) damned if you do and damned if you don't.

Posted by CapitalB > Jun 2, 2023 4:50 PM | Report Abuse
Tony already scare w with your all... Push the price up...

I saw a sea change in networth for the past 5 years.
RM'000.
-5,784,892: -3,118,442: -1,236,530: 4,444,825: 6,216,071

Dome Cafe and Melium is 43.4% associate companies of Insas. Insas intention is to list Melium in Bursa but unfortunately Covid 19 hit and all the hard work of making sure of continues profit in order to qualify for listing was broken.

Below are the latest quarter end 31/3/2023 CapitalA figures.
Shouldn't you feel more than afraid/fear/frightened/anxious of the figures?

As at 31/3/2023: As at 31/12/2022
RM'000: RM'000
Net current liabilities: (8,524,896): (8,509,066)
Equity
Owner of the Company: (5,553,254): (5,725,093)
Non-controlling interests: (3,822,946): (3,791,865)

With Net current liabilities of RM(8,524,896,000) can CapitalA stay afloat for the next 12 months?

Q1 ended 31/3/2023
Revenue: RM 2,529,713,000
NP: RM 26,013,000
NP to SH: RM 57,095,000
EPS: 1.40 cents
NAPS: RM - 1.33

https://klse.i3investor.com/blogs/Sslee_blog/2023-05-27-story-h-269629315-Petronm_s_64th_AGM_questions.jsp

Alteady email the above questions for Petronm's 64 th AGM

Jaks already sold its loss-making property development arm, Jaks Island Circle (JIC) for RM1 only, we still view the deal positively as it will push Jaks back to profitability while easing some of its cash-flow problems. The acquirer will assume all the liabilities related to JIC, while taking control over the Pacific Star project (Office and Residential). Jaks which has a 51% stake in JIC will record a disposal gain of around RM71.9m. The acquirer, Island Circle Development (ICD) owns the remaining 49% stake in JIC.

In the end all intercompanies loans to JIC was impaired. So the RM71.9m gain is just a syoik sendiri figure.

Two more loss making 51% subsidiaries
MNH Global Assets Management Sdn. Bhd. (“MNH”) Malaysia
Fortress Pavilion Sdn. Bhd. (“FP”)
When will sell to ICD for RM 1 and record a disposal gain of RM million again?


Summarised statements of financial position as at 31 December 2022:
FP MNH Total
RM RM RM

Non-current assets: 230,013,775: 332,332,266: 562,346,041
Current assets: 4,581,618: 17,641,667: 22,223,285
Total assets 234,595,393: 349,973,933: 584,569,326

Current liabilities :205,013,392: 203,849,675: 408,863,067
Non-current liabilities: 76,300,000: 216,418,493: 292,718,493
Total liabilities :281,313,392 : 420,268,168 : 701,581,560

Total equity :(46,717,999): (70,294,235) : (117,012,234)

Attributable to:
Non-controlling interest :(22,891,820) :(34,444,175): (57,335,995)
Other individually immaterial
non-controlling interest: 768,866
Total non-controlling interest :(56,567,129)

Insas is eyeing a resumption of its uptrend as it bounced off the immediate support to reclaiming a spot above the 21-day SMA line, while heading towards the MYR0.85 immediate resistance. If it breaches that point, the bullish bias should drive the stock towards the MYR0.90 resistance, followed by the psychological cap of MYR1. Towards the downside, falling below the MYR0.81 support will negate the bullish structure.

Source: RHB Securities Research - 30 May 2023

Sometime I just wonder do IB analyst actually read or comb thro' all the detail in the Balance sheet, P&L and cash flow statement before they come out with?

CAPITALA’s 1QFY23 core net profit beat expectations on strong flight demand and higher yields realised. We share its optimism that the recovery in air travel will continue to accelerate this year. It will unveil its PN17 regularisation plans in early-July. We raise our FY23-24F net profit forecasts by 87% and 44%, respectively, lift our TP by 25% to RM0.84 (from RM0.67) but maintain our MARKET PERFORM call.

1QFY23 core net profit of RM57m beat expectations, accounting for 53% of our full-year net profit forecast and against consensus net loss estimate of RM166m. The variance against our forecast came largely from stronger-than-expected demand for its flights and higher yields realised.

Know how much it cost to activate a grounded aircraft and with more aircrafts where the passengers will come from and how will it effect the load factor?

By the way did so called core profit able to cover debts principal payment when it come due? And what is the total debts?

Re-post from CapitalA forum:

Quote," i3lurker situation is different today
see PIA case plane seized in Malaysia, last few days
if Stony orders plane lessors to take RM1.00 for RM100.00 owings, plane lessors will take plane instead.
Coz there is a demand for planes now.
Plane lessors want RM100.00 for RM100.00 now" unquote

Below is how much per quarter capitalA need to pay to lessors:
***Interest is increasing and USD is geting stronger. If I am not mistaken the right of use asset is in USD and so are many CapitalA borrowings are in USD.

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

(ii) 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
02/06/2023 6:58 AM

So have you done your averaging?
WongGK92 Average again when it drops below 5.50. hehe
30/05/2023 1:59 PM

The key takeaways from the analysts briefing yesterday are as follows:

1. The group is on track to announce the details of its PN17 regularisation plan in July 2023 with completion expected by end- 3QCY23. The delay was due to the need to incorporate the latest FY22 audited figures. We gathered that the group plans to divest its aviation group to AirAsia X in exchange of shares for subsequent distribution to its shareholders.

The key takeaways from the analysts briefing yesterday are as follows:

1. The group is on track to announce the details of its PN17 regularisation plan in July 2023 with completion expected by end- 3QCY23. The delay was due to the need to incorporate the latest FY22 audited figures. We gathered that the group plans to divest its aviation group to AirAsia X in exchange of shares for subsequent distribution to its shareholders.

Convertible loan note
In the previous financial year, a subsidiary of the Group secured an investment of up to USD100 million (equivalent to RM415 million) convertible notes at a coupon rate of 6% per annum from SK Group, a South Korean conglomerate. The convertible loan notes will be converted into preference shares in a subsidiary within one year upon approval obtained from regulators.

i3lurker,
Most likely the SK Group will sue you.

Posted by i3lurker > Jun 1, 2023 10:08 AM | Report Abuse
////BigPay’s carded users : 1.4 million////

real users = 1.4 million minus 1
This is a lie
as I stopped using my BigPay card, been zero transaction for few years, waiting for card to expire.
Cannot speak for others

Cannot say why
otherwise Stony will sue me

Remember who/whose was/were the one/many push down the price so that KYY get margin call

What margin call? He can just issue LTIP free grant Jaks share to himself.

Quote," i3lurker situation is different today
see PIA case plane seized in Malaysia, last few days
if Stony orders plane lessors to take RM1.00 for RM100.00 owings, plane lessors will take plane instead.
Coz there is a demand for planes now.
Plane lessors want RM100.00 for RM100.00 now" unquote

Below is how much per quarter capitalA need to pay to lessors:
***Interest is increasing and USD is geting stronger. If I am not mistaken the right of use asset is in USD and so are many CapitalA borrowings are in USD.

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

(ii) 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

As announced on 21 December 2022, Bursa Securities had granted the Company an extension of time of six (6) months until 7 July 2023 for the Company to submit its regularisation plan to the relevant regulatory authorities.

By 7 july 2023 Stony either come up with a regularisation plan for CapitalA to exist PN17 in 1 year time or ask for another extension.

Bursa can either grant the extension or refuse the extension and suspend the trading of CapitalA.
The odd is 50:50

Come 7 july just don't be the many trying to rush to the exist door.

Post removed.Why?

Reversal of provisions on debts and investments amounting to RM265.9 million
31/03/23------AAX repoted this Expenses as Positive " 215.9 million"
that mean advertising and promotion, professional fees, insurance, rentals and maintenance is RM 215.9-265.9 =RM (50 million)
***STony is a Fantastic services provider, will charged you an arm and a leg for the services provide.

Posted by SinGor > Jun 1, 2023 3:06 PM | Report Abuse
Other operating expenses: ( as explain in AA Books )
Other operating expenses mainly includes advertising and promotion, professional
fees, insurance, rentals and maintenance.
_____________________________________________________

31/03/22------AAX reported this Expenses as Positive " 33.6Billion "---Kill All loses
31/03/23------AAX repoted this Expenses as Positive " 215.9 million "----Boost Net profit to 300mil++++
As i said Tony is a Fantastic Accountant

Revenue
quarter ended
31 March
2023: 2022
In RM Mil
Olefins and Derivatives: 3,393: 2,741
Fertilisers and Methanol: 2,407: 3,304
Specialties: 1,745: 578
Others: 12: 11
Total: 7,557: 6,634

OPERATING CASH FLOW OF RM529 MILLION - HIGHEST LEVEL SINCE THE ONSET OF PANDEMIC

Know why aircraft lease expenses is now under cash flow from financing activities?
Repayment of borrowings and lease liabilities RM (373,975,000)