Good morning i3lurker,
I really do not understand while Serbadk can hide its revenue and net profit inside receivables and inventories but CapitalA account is soo clear to see, like an elephant in the room

As at 31/12/2022
CapitalA net liabilities is RM (9,427,491,000) of which net current liabilities is RM (9,067,503,000)

Anyone with just a basic form 3 book keeping knowledge will/should know with above net and current liabilities CapitalA beside PN17 is also a
Distressed companies that are in risk of, or already have defaulted on their debts.

Lease liabilities
The lease liabilities amounting to RM15.0 billion includes deferred aircraft leases of approximately RM2.4 billion. The lease liabilities are supported by ROU assets of RM10.2billion and finance lease receivables of RM0.4 billion.

The Group had completed the restructuring of a total of 133 aircraft leases up to the date of this report including the waiver of lease rentals in arrears, as well as reducing future lease rates with a corresponding longer lease term, where necessary, and return of aircraft.

Good morning i3lurker,
I bought some Jaks at 19 and 18.5 cents. Hope to get some free beer and lobsters so wish me luck.

Quoting from Capital A’s analysts' briefing, Choo said the group plans to announce the details of its PN17 regularisation plan by mid-April 2023 with completion expected by the end of the third quarter of 2023.

“We gathered that the group plans to divest its aviation group to AirAsia X in exchange for shares for subsequent distribution to its shareholders,” Choo added

As at 31/12/2022
CapitalA net liabilities is RM (9,427,491,000) of which net current liabilities is RM (9,067,503,000)

So the only way for CapitallA to be out of PN17 is to transfer all above net liabilities to AAX. Am I right? Any comments?

Are you saying some sydicate members were selling left hand to right hand and then right hand to left hand to pump and dump?

Posted by purple70 > Mar 23, 2023 6:09 PM | Report Abuse
If one adds the total trade of last 2 weeks, its more than the no of shars in issues and yet SC is so quiet about it!

Asian people are such a sweet and nice people, they will say thank you even if you scammed them.

Serba Dinamik bags "Best Oil & Gas and Most Sustainable Energy Company" Achievement Award 2022

SEPANG, 24 September 2022 – AirAsia has been crowned the World’s Best Low Cost Airline at the Skytrax World Airline Awards 2022 for the 13th consecutive year.

Edward Plaisted, CEO of Skytrax said: “AirAsia redefined low-cost air travel in Asia and despite the recent post-pandemic challenges, continues to be a firm favourite with customers. Winning the award for the World’s Best Low Cost Airline and an extraordinary 13th time is a fantastic achievement, and we congratulate all the members of the AirAsia family on this momentous occasion.”

Since Mabel meow meow is here, I better keep my silent as all should know how Mabel' Serbadk ended up in the trash.

Tengku Adnam is also a billionaire and I too a billionaire but in Rupiah.

KUALA LUMPUR: Perikatan Nasional (PN) has rejected Parti Pejuang Tanahair (Pejuang)'s application to join the coalition.

PN secretary-general Datuk Seri Hamzah Zainudin said this was decided during the coalition's supreme council meeting on March 20, chaired by its chairman Tan Sri Muhyiddin Yassin.

Just wonder how Tun M' children is so naive, lack of judgmemt and lacking in every aspect as leader can still become a billionaire?

Just wonder why the official richest Malay Tan Sri Syed Mokhtar Al-Bukhary need to donate/bribe hundreds of million to Bersatu coffer?

Is it because corruption is so rampant and entrenched with government and political culture that you need to grease someone's palm in order to do business in Malaysia?

By the way the unofficial richest of the richest Malays is Tun M and Tun Daim.

Malaysia really in need of political and institutional reform to get rid of the culture of corruption.

A civilization is measured by how it treats its weakest members” or “The greatness of a nation can be judged by how it treats its weakest member or minority”

Malaysia need more people like Siti Kasim and law to fight and protect Orang Asli rights.

The lawyer who stands up for Orang Asli
Alyaa Azhar
Published: Oct 27, 2016 7:39 AM
Updated: 9:03 AM

Despite a blockade set up by the Orang Asli to prevent logs from being taken out from their Balah forest reserve in Gua Musang, the Kelantan state government has continued to defend logging in the area.

Kelantan Menteri Besar Ahmad Yakob was reported earlier this month arguing there was no reason for the state government to stop the logging since it was approved by the state.

However, lawyer and activist Siti Kasim told a forum on the predicament of the Orang Asli that there were other more sustainable ways of logging.

One of the favorite lies that ultra-malay organizations like Perkasa, Isma, Utusan like to propagate is that ethnic Chinese are rich and they dominate Malaysian economy.

As of why despite the never ending hand out under NEP and Malay special right/privillage the majority of B40 is still Malay?

So look no further than Kelantan why kelantan cannot develop when all this while governed by PAS?

So perhaps PAS is the real reasons why Malay did not progress as they should.

As I said earlier, hereditary factors no longer hamper the development of the Malays. But what has become more evident and more influential is the role of culture and value system.-Tun M

Note: Just look at Bursa all those big companies are controlled by GLC, Bumiputra federal/state funds, EPF , foreign funds and etc.

If foreign funds pull out of Bursa then Bursa will collapse.

So someone is saying CapitalA' managememt gave a misleading analysts' briefing to IBs that cover CapitalA stock????

Kenanga Research analyst Raymond Choo Ping Khoon had also upgraded Capital A’s TP to 67 sen, from 60 sen previously, but maintained his ‘market perform’ recommendation, as Capital A’s FY2022 result came in within its forecast.

“We continue to like Capital A for it being a beneficiary to the recovery in air travel as the pandemic comes to an end, its growing digital business, leveraging on its strong AirAsia brand and AirAsia’s existing client base, and its dynamic and visionary leadership that should help to steer it out of the current financial difficulty,” said Choo.

Nonetheless, Choo said that he is mindful that Capital A is still a PN17 company.

Quoting from Capital A’s analysts' briefing, Choo said the group plans to announce the details of its PN17 regularisation plan by mid-April 2023 with completion expected by the end of the third quarter of 2023.

“We gathered that the group plans to divest its aviation group to AirAsia X in exchange for shares for subsequent distribution to its shareholders,” Choo added.

StartOfTheBull Stony SSlee is lying. He doesn't know Capital A will not necessarily submit its regularisation plan by mid-April 2023. The deadline for submission is actually 7 July 2023.

Did I heard somone call Stony a liar?????

KUALA LUMPUR (Jan 12): Capital A Bhd is optimistic about its potential growth this year, following a strong rebound in travel demand post Covid, and expects to be out of Practice Note 17 (PN17) status by the end of this year, said chief executive officer Tan Sri Tony Fernandes.

He said the investment holding group, which is involved in aviation, logistics, lifestyle, and financial services ventures, plans to submit its finalised regularisation plan to Bursa Malaysia as early as February.

“We can be out of PN17 status, definitely this year, and I hope much earlier than that. All of the consultants are now going through all the work.

“We hope to submit to Bursa somewhere between February and April. Once we get the approval, then we will go through it,” he told reporters on the sidelines of the airasia Super App rider and driver appreciation event here on Thursday (Jan 12).

Then again US and Nato are free to incite/support riots to overthrow a democratic elected pro Russia Ukraine President and bankroll a puppet pro US/western/Nato President.

Putin attempted to justify the annexation with a referendum, where the Russian-speaking majority voted to join Russia. But the referendum was considered a sham by Ukraine, the U.S., and numerous other nations.

Just wonder why the West refuse to recognised the referendum? Afterall Crimea was part of USSR and the USSR transferred Crimea to Ukraine on the 300th anniversary of the Pereyaslav Treaty in 1954.

The problem is Stony plans to divest CapitalA's aviation group with net current liabilities of RM (9,067,503,000) into AirAsia X in exchange of shares for subsequent distribution to its shareholders.

The announcement of the details of CapitalA' PN17 regularisation plan is by mid-April 2023. So stay tuned.

Stony did not owed me anything.

I am here just trying to save humanity by preparing human to think rationally, do their homework and put forward their argument with reasoning, facts, figures or convincing story or else very soon human will be eaten alive for breakfast (replaced) by ChatGPT or Ask Bo(AI).

Hope someone doesn't suffer premature ejaculation and cause CapitalA to drop further tomorrow.

I think the kitchen sinking exercise is almost done the only unknow is the outcome of court case with Star and Other.

At this price is very tempting.
Someone is pushing down the price for big boss to collect PP cheaply.
Once PP is over then price will be pushed up for big boss to sell and the cycle repeat again.

Before next quarter out most likely Stony will pour cool water or give you instant ejaculation with his mid April regularisation plan for CapitalA

By the way PM number 8 and 9 is a backdoor PM which I and majority of Malaysians never vote for.

When come to government what choice to we have when we are caught between a rock and a hard place?

Look like need to wait longer for the next two quarters of bad result to collect below Philip entire holding cost of around RM 5.05 post dividend.

Trust is earned not given. But respect is given as respect beget respect.

If you send out respectful thoughts, respect from others will come back to you. If you send out hatred, animosity, ill-will, disrespect, etc., similar negative experiences will come back to you.

Please only speak for you self and not as a country as I acknowledge DSAI as Malaysia PM number 10.

Tun M actually betrayed our (Malaysians) trust we have for him to develope Malaysia into a mature, unit and developed country.

As at 31/12/2022
CapitalA net liabilities is RM (9,427,491,000) of which net current liabilities is RM (9,067,503,000).
Current mean within next 12 months CapitalA need to pay this IOU or payment bill or obligation of RM 9,067,503,000. My form 3 bookkeeping understanding is CapitalA Book is like shiiit and going to bankrupt within 12 months time unless debts restructure.

But this guy sound like/look like/smell like a goreng guy simply goreng words and numbers and come out with Meowwww 10 bil only??? Revenue per year also HIGHER , at 12.5 bil!!!AA highest earning is 2 bil in a year. only need 5 good years to clear the debt... SImpleeee tony say apa pn17 Tomorrow stony will show power of take-off no turbulence!!

All the figure I present so far is from AA/CapitalA financial report:
As at 31/12/2022
Lease liabilities
The lease liabilities amounting to RM15.0 billion includes deferred aircraft leases of approximately RM2.4 billion. The lease liabilities are supported by ROU assets of RM10.2 billion and finance lease receivables of RM0.4 billion.

The Group had completed the restructuring of a total of 133 aircraft leases up to the date of this report including the waiver of lease rentals in arrears, as well as reducing future lease rates with a corresponding longer lease term, where necessary, and return of aircraft

Below is from someone research finding.
Accusations by GMT Research that Airasia was only profitable due to the leasing of these planes resulting in profit transfers from unprofitable regional Joint Ventures, to the group holding.

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

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

28 Feb 2018 (Completed 31 Dec 2018) – BBAM Limited Partnership / FLY RM 9,775.6 million and RM 262.3 million (82 Aircraft and 14 Engines)

24 Aug 2018 (Completed 8 August 2019) – Castlelake L.P. USD 739.5 million (RM 3,559.5 million) (25 Aircraft)

25 July 2019 (Completed 31 December 2019) – Castlelake L.P. (RM 1,240 million) (14 Airbus A320-200)

Super App EBIDTA of positive RM 0.1 million with Revenue of RM 138 million mean has big potential.

Should I laugh or cry when someone say teleport connectivity is even better than dhl fedex???

Posted by Mtrade > Mar 19, 2023 4:23 PM | Report Abuse
Air Asia super app has big potential plus it is earning money unlike grab foodpanda, airasia ride, air Asia delivery, teleport courier service in ASEAN using its own air Asia flight. Connectivity is even better than dhl fedex


airasia Super App: Reported its third consecutive quarter of EBITDA positive at RM0.1 million on the back of RM138 million revenue (+36% QoQ). Monthly Active users (“MAU”) grew to 12 million in December 2022, driving higher transactions in 4Q2022 predominantly in travel verticals (AirAsia flights, FlyBeyond and SUPER+) while conversion rate improved to 9% to 11%. The travel vertical remains a key focus in 2023 especially in driving demand and transactions for hotels and rides. As of January 2023, airasia ride has completed more than 3 million rides and expects further growth leveraging the launch of the service in additional key cities in Asean, further expanding its existing market share in the region.

Load factor.
At 87%, AirAsia Malaysia’s 4Q2022 load factor improved by 1 ppt from the preceding quarter and 5 ppts from 4Q2019.

Revenue
Group
2018: 2017
RM’000: RM’000
Passenger revenue
- seat sales: 7,656,780: 6,859,805
- others: 1,840,494: 1,668,939
Freight services: 292,121: 189,428
Aircraft operating lease income: 848,901: 991,549
Total: 10,638,296: 9,709,721

Other passenger revenue includes ancillary income such as baggage fees, assigned seats, cancellations, documentation and other fees, and on-board sale of meals and merchandise

Other income
Group
2018: 2017
RM’000 RM’000
Gain on disposal of property, plant and equipment 298,816: 64,281
Gain on disposal of investment in a subsidiary 350,317: -
Gain on disposal of investment in a joint venture - :167,688
Fees charged to associates providing commercial air
transport services 74,291: 76,310
Fees charged to related parties providing commercial
air transport services 40,235: 30,467
Dividend income from a related party 3,078: 5,336
Aircraft wet lease income 76,928: 187,298
Others 349,611: 267,926
1,193,276: 799,306
Other income (“others”) includes commission income and advertising income.

So post covid will capitalA revenue still able to have:
2018:2017
RM'000:RM'000
Aircraft operating lease income: 848,901: 991,549
And
Others income: gain on disposal of PPE/investmentin subsidiary/JV and free charged to associates and related parties.

Without above lease and others income is CapitalA aviation still able to make profit of billion???

Note: Without above AA 2019 make a net loss of RM(283,223,000) with revenue of RM 11,860,403,000

Posted by The_JQuestion > Mar 19, 2023 11:34 AM | Report Abuse
Meowwww 10 bil only??? Revenue per year also HIGHER , at 12.5 bil!!!AA highest earning is 2 bil in a year. only need 5 good years to clear the debt... SImpleeee tony say apa pn17 Tomorrow stony will show power of take-off no turbulence!!

Good morning i3lurker,
Maybe it is more fancy and logical if Stony and ALP can work together for Jaks to buy over CapitalA avition for RM 15 billion by issuing 50 billion Jaks share to CapitalA.

Jaks will then book the 24 billion goodwill as non current asset and provide for impairment loss on goodwill of 240 miliion yearly for the next 100 years.

With aircraft operating leases of RM 315.2 million and Finance costs (interest payment)- lease liabilities of RM 260.4 million per quarter.

How much profit can multi-millions free seats promotion and seat sales will bring to CapitalA? How much Capitals must earn to serve the lease liabilities pricipal and interest and for how long?

Note: Quarter ended 31/12/2022
Net profit of RM 172,357,000 because of
Foreign currency gain RM 207,722,000
Share of profit of associate: RM 166,495,000
And

Maintenance and overhaul
(i) Included in the maintenance and overhaul for the quarter was a reversal of provision of maintenance which amounted to RM 233 million arising from change in estimates,lease restructuring and redelivery of aircraft.

(ii) Other operating expenses
Included in the other operating expenses for the quarter was a reversal of impairment on ROU assets previously provided, which amounted to RM160.8 million and impairment on investment securities and receivables of RM53.3 million.

(iii) Other income
Other income mainly includes commission and advertising income, forfeited revenue,insurance claims and management fee for provision of shared services to associates.

We are all here in i3 trying to share what we know and make money from Bursa.

You have your way and I have mine and there are no sure win way. So why not we just exchange our know what, know how and know when to make money from share market????? And be nice to each other.

Trust no one but the figure. People lie, figures will not lie, but “liars will figure.”

In 4Q2022:
Aviation: Recorded a segmental revenue of RM2.1 billion and positive EBITDA of RM598 million. This was mainly attributed to the surge in international travel, which led to the resumption of former existing routes and the introduction of new routes where forecast demand is strongest.

Just to boost about EBITDA of RM598 million, CapitalA hide the Aircraft operating lease expenses and finance cost of lease liabilities as Finance cost and not in Operating cost.

The adoption of MFRS 16 has the following impact:

i) On the Consolidated Income Statement, expenses which were previously included under aircraft operating leases will be replaced by finance costs – lease liabilities and depreciation of right of use asset;


Depreciation on right of use asset
Quarter ended 31/12/2022 RM million: Quarter ended 31/12/2021 RM million
Operating aircraft 220.0 :141.2
Non-operating aircraft 93.9: 246.6
Others 1.3 :18.4
Total: 315.2 :406.2
(ii) Finance costs - lease liabilities
Quarter ended 31/12/2022 RM million: Quarter ended 31/12/2021RM million
Operating aircraft 168.0:58.1
Non-operating aircraft 92.4: 98.7
Total: 260.4:156.8

CharlesT is trying to tell Philip on Philip's "99% of my wealth is in equities, all my eggs in one basket"

"In stock mkt difficult to tell one, one day u make another day u lose, now u see now u dont"

Hope Philip don't use margin finance to average down too often, who know case like Credit Suisse might happen to any stocks.

With PAS indoctorine that Our destiny is pre-determined and believers will be rewarded havenly afterlife just to control thier followers. Who will then want to work hard to progress when everything is pre-determined?

It is the All Mighty Who, before we are born, decides a person's destiny, Who prepares everything that happens to us, and Who determines what these events will be and what kind of life we will have.

And ommit to mention.
Qur'an 13:11 - Indeed, Allah will not change the condition of a people until they change what is in themselves.

Good morning Philip,
Same same, I received my Insas-WC for free and then sold all the WC to top up Insas. (Most likely is a mistake)

I treat investment in equity just as a hobby with the aim of earning RM 100K+ yearly dividend while waiting for share price appreciation. My biggest investment is on my children education and now helping them to buy property and start their own family.

Yes I loss some money investing in AAX.
AAX never make money because Stony transfer profit from AAX to AA.

AAX 2018:2017
RM '0000: RM '000
Revenue: 4,571,376: 4,578,674
Aircraft operating lease expenses: (898,654): (944,599)
Maintenance and overhaul: (485,389): (652,922)
Other operating expenses: (464,398): (413,811)

Quarter end 31/12/22
RM'0000
Revenue: 339,296
Aircraft lease expenses: (11,547)
Maintenance and overhaul: (10,516)
Other operating expenses: 47,977

The bad news is need another PP to pay for the addition 10% equity option.

AAX will be fine and do well if without CapitalA.

Let say local business still bleeding RM 50m per year, still got RM 100m profit from power plant.

You forget to put in another RM 50M for impairment loss on goodwill and receivables + another RM 14M on LTIP expenses.

The good news is the balance on Goodwill in Balance sheet is now RM 23.5 M

Just be mindful pre-covid19 AA has milked AAX, Indonesia, Thailand, Japan, India, Philippine airasia to the bone so that AA can make the huge profit.

Post covid19 when AAX start to make profit with independent third party aircraft lessors and CapitA is now planning to inject CapitalA aviation with its billions in net liabilities to AAX in order to save CapitalA.

Watch out the promised regularisation plan due on Mid April 2023.

In Quater end 31/12/22 CapitalA:
Aircraft lease expenses: RM (315,200,000)
Interest expenses on IOU cumulative Aircraft lease to lessors RM (260,400,000)

The adoption of MFRS 16 has the following impact:

i) On the Consolidated Income Statement, expenses which were previously included
under aircraft operating leases will be replaced by finance costs – lease liabilities
and depreciation of right of use asset;

ii) On the Consolidated Cash Flow Statement, operating lease rental outflows,
previously recorded within net cashflow from operating activities, are classified as
“net cashflow used in financing activities” for repayment of principal of lease
liabilities.

CapitalA
Depreciation on right of use asset
Quarter ended 31/12/2022 RM million: Quarter ended 31/12/2021 RM million
Operating aircraft 220.0 :141.2
Non-operating aircraft 93.9: 246.6
Others 1.3 :18.4
Total: 315.2 :406.2
(ii) Finance costs - lease liabilities
Quarter ended 31/12/2022 RM million: Quarter ended 31/12/2021RM million
Operating aircraft 168.0:58.1
Non-operating aircraft 92.4: 98.7
Total: 260.4:156.8
Do anyone know what the above mean?

Note: AAX quarter end 31/12/2022
Aircraft lease expenses: (11,547,000)
Maintenance and overhaul: (10,516,000)
Do you know how much AA charged AAX for these two cost previously when AA is the lessor?

Watch out what will Stony pull out from his magic hat on Mid April 2023 CapitalA regularisation plan.

I am just trying to save humanity by giving the facts, figures and reasoning. If you have new facts, figures and reasoning you are welcome to present your facts, figures and reasoning.

By the way if you cannot put forward your argument with reasoning, facts or convincing story then very soon you will be eaten alive for breakfast (replaced) by ChatGPT or ask Bo.

Submit a regularization plan to Bursa Malaysia to obtain approval (and implement) the regularization plan (mid April 2023)

Implement the plan according to the time stipulated by Bursa or Securities Commission; whichever is applicable.

For a PN17 company to no longer be considered PN17, it has to first:

Complete the implementation of approved regularization plan.

Submit an application & necessary documents to Bursa to prove that it’s no longer a PN17 company.

tommypandaz Tony say this year we will depart from pn17 !!
16/03/2023 2:33 PM

@Alan can it be possible that CapitalA is out of PN17 this year?

As at 31/12/2022 CapitalA net current liabilities is RM 9,067,503,000 and total equity of negative RM 9,427,491,000