Will the Exercise Price of Call Warrant be adjusted after Bonus Issue?

Ringgit has appreciated from 4.45 to 4.30
Fuel cost has come down
If other factors such as load factors, RASK, remain the same, then Q2 results shud be better!!

Let your decision to buy and sell be driven by facts and not by emotions.
Today's selling is overdone!

Selling is almost done @0.455

I did some simple calculations on the total number of transactions match at buyer price and seller price since 25th April....
It is a net positive of 287M shares..... i think the operator is still holding tis amount of shares... any opinion?

Suggest to Dr Yu Kuan Chon of YNH properties or Chua Ma Yu to come in as a strategic investor to shake up the whole board directors of puncak niaga!!

i will email to Mr Shashi at aduan@seccom.com.my by tomoro.
Let's to it together.

Does anyone know what is Lembaga Tabung Haji average investment cost for Puncak?

If we know, then we can make presentation to LTH board as to why they are sitting on a large paper loss on their investment in Puncak due to poor management and foresight by Puncak BOD,
and to propose how we can come together to force the board of directors of Puncak to rectify tis.

If we can convince LTH to come aboard, then it wud be great!

Hi All,
I own 105,000 shares in puncak.
Let me lay down the bare facts on Puncak.

Puncak has a market capitalisation of 449M X 0.92cents= RM414M
But it has more than RM1,100M of cash and short term investment as of 3Q16
In addition, it has more than RM380M of other tangible assets and minimal borrowings.

To break it down further, each Puncak shares has RM2.50 of cash and RM0.85 of other assets.
It is precisely tis reason tat i bought into Puncak a few months back trusting tat Rozali and other board of directors will acquire INCOME GENERATING ASSETS AT REASONABLE PRICES
or DISTRIBUTE PART OF THE CASH BACK TO THE SHAREHOLDERS if they can't find any good biz.
But month after month , i see the cash pile being plundered to buy generating biz at INFLATED PRICES(acquisition of triplc)
or unrelated/stupid biz at questionable prices (proposed acquisition of plantation from shin yang)

Rozali and the board of directors has failed us, the minority shareholders of Puncak.

So i asked everyone to support watever kahhoeng and rMoi is doing and to contribute in whatever small ways we can.
Even if we don't succeed at least Rozali knows tat we the minority shareholders are watching and we are no easy pushovers.

If the new Exercise price of Eko Warrant is 1.22 after the special dividen, then wat is the exercise price after the split? Anyone?

Pls look at the annual report. The info is all there
Starting 2018, RM60M of bond mature

Non - Current:
Secured, xed rate bond: - 4.00% per annum
- 4.10% per annum
- 4.20% per annum
- 4.30% per annum
- 4.40% per annum
- 4.50% per annum
- 4.60% per annum
- 4.70% per annum
- 4.80% per annum
- 4.90% per annum
- 5.00% per annum
Secured, xed rate subordinated bond: - 16.00% per annum
Less:
- Bond discount
- Transaction cost
The Group Maturity 2015
Year RM
2014 RM
60,000,000 25,000,000 20,000,000 20,000,000 20,000,000 20,000,000 20,000,000 20,000,000 20,000,000 25,000,000 30,000,000
11,000,000 291,000,000
(13,706,811)
(19,170,556) 258,122,633 972,228 259,094,861
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2028
60,000,000 25,000,000 20,000,000 20,000,000 20,000,000 20,000,000 20,000,000 20,000,000 20,000,000 25,000,000 30,000,000
11,000,000 291,000,000
(12,399,852)
(16,910,027) 261,690,121 972,228 262,662,349

Fair Value of Anusuria Cluster is RM1.19 per share
Since Hibiscus has 50% stake in Anusuria, it works out to be RM0.60/share
Similarly DNEX with an effective 15% stake via PING works out to be RM0.20/share

Figure 2: DCF Valuation On Anasuria Cluster
Cost of Debt 5.0%
Cost of Equity 12.7%
Risk Free Rate 3.8%
Market Risk Premium 9.1%
Beta 1.0
Equity 77.8%
Debt 22.2%
Terminal rate 2.0%
WACC * 11.0%
Total DCF 419.9
No. of Shares ('000) 1443
Fair Value (USD) 0.29
Fair Value (RM) @ 4.10 1.19
Hibiscus Portion (50% interest) RM 0.60
Source: Public Investment Research estimates

Public Investment bank values Hibiscus 50% stake in Anusuria cluster at rm0.60
DNEX has a 15% stake in Anusuria cluster via PING effectively valuing rm0,20
Inaddition DNEX has another oil and gas service provider OGPC which has an annual PBT of rm20M yealy past few years
DNEX ha ssteady earnings from NSW,
IT and e-services earnings will be fueled by the Vehicle Entry Permit (VEP) contract secured in February last year.
Surely DNEX is worth much more than the current price!!

strong support @0.39-0.395..... BB?

jjchan, i follow u. i take the contrarian view....i buy when ppl are selling.

xzzzzzz.....thank you

So do expect the management to make some announcement over the next few months on some acquisitions in Indochina.

Kana Miko, da4444

"With regard to the expansion involving the acquisition of companies and/or assets involved in telecommunications infrastructure and its related businesses in countries such as Myanmar, Cambodia, Laos and Vietnam as highlighted in the above table, detailed announcement will be made in due course and the approval of the shareholders’ will be sought, if required. At least 80% of the amount allocated for the expansion of the Group’s existing business will be allocated for acquisition of companies and/or assets involved in telecommunications infrastructure and its related businesses in countries such as Myanmar, Cambodia, Laos and Vietnam within six (6) months from completion of the
Proposed Private Placement.
In the event that such proceeds are not utilised or not fully utilised within the said timeframe, such proceeds or balance of proceeds will be reallocated to part finance the subsequent phase of construction of telecommunications towers in Myanmar, amongst others, under the MSA."

This is the additional info in regards to the Shares Placement Proposal posted on Bursa Malaysia on 8th June.
If u read carefully, the management is hinting tat it will be using RM48M of the funds raised from tis share placement for
buying companies/assets involved in telecom infrastructures in Indochina esp Vietnam.

sostupid.... not all businesses are accurately valued based on net tangible asset alone... not in AAX case especially if it can generate a decent EPS (earning per share)

sayakamiyuki...... can u show us how u come to tis conclusion tat AAX breakeven is at RM500 average base fare??

Thank you radzi...

view08....
thanks for the info

radzi/jjchan......do u have any idea if AAX has done any currency hedging for their US denominated loan/borrowing since their last 4Q15 results? or have they converted some of their US denominated borrowing into YEN?
If they did, then we need to adjust downwards the forex gain for 1Q16....

latest news on taurx

http://www.bloomberg.com/news/articles/2016-03-17/a-30-year-quest-for-an-alzheimer-s-remedy-nears-the-finish-line

LATEST NEWS ON TAURX

http://www.bloomberg.com/news/articles/2016-03-17/a-30-year-quest-for-an-alzheimer-s-remedy-nears-the-finish-line

Thanks

Can someone enlighten me...... can SONA warrant be converted to shares if they voted against the QA tis coming EGM?
thanks

Can someone enlighten me...... can SONA warrant be converted to shares if they voted against the QA tis coming EGM?

radzi....your arguements are backed by facts :)
Now i understand why u are so bullish about AAX.....

do u think the savings from fuel expenditure will make up for the loss/lesser OTHER INCOMES in the next quarter i.e. 1Q2016?

radzi.....your thoughts on OTHER INCOMES?

radzi, jjchan...... Other Income under revenue for 4Q2014 refers to incentives received from airport authorities and sales and lease back of engines.
Do u think Other Incomes reported for 4Q2015 refers to the same?

For us holding large position in Airline stocks, i think its prudent to hedge against the rise in oil price by having some Oil/Gas shares in our portfolio

Your thoughts pls....

Jjchan...Thanks for the info...
We will see how Airasia and AAX do tomorrow :)

Thanks lowwy for sharing your helpful info too.

Thanks again radzi for your input. Have to go, time for dinner with family.
Perhaps the market will tell us tomoro if the OTHER INCOME is a quality recurring income.
Have a great evening!

i believe they do sell aircraft, book a profit, and lease them bck. Is tat why their leasing cost went up tis latest Q?

radzi.... i am a medical person by profession, so i am lost as to how to do a "square regression" but your explanation do make sense to me. thanks :)

radzi.....regarding your comment on lease cost....if u compare the cost per ASK(excl fuel) it actually went up the last quarter from 9.43 (Q3) to 10.19 (Q4)
So i am concern on the same issue with u too.

radzi... but it is strange that OTHER INCOME for Q1, Q2 and Q3 2015 is very minimal, just a few million ringgit.
i have been cracking my head over tis issue since yesterday.
Perhaps we shud ask the directors during the next AGM to clarify.
Anyway thank you radzi for your input. U have been most helpful

thank you radzi for your comment.
jjchan has pointed out tat it only happens during the 4Q of the past 2-3 financial years.
Beside the OTHER INCOME being the penalty paid for changing bookings, cud there be any other resons
if u strip the amount off, then the OPERATING PROFIT and PRETAX PROFIT isnt tat great.
Wud appreciate any further comments from u.

Thank you jjchan for the input.
If u strip tat amout off, then the Operating Profit and Pretax Profit isnt tat great.....but nevertheless a turnaround story.
Hopefully its a recurring income instead of a one time off event.

If it's an one off sale of engines/aircraft, then the income is NOT A QUALITY INCOME....

Can anyone enlighten me on note 12 (other income) of RM94,785,000 in the income statement for AAX 4Q.
It seems like a big amount that is contributing to the OPERATING PROFIT.
Is it a one time event like a sale of engines and subsequently leasing back or some recurring income?
thanks

Can anyone enlighten me on note 12 (other income) of RM94,785,000 in the income statement for AAX 4Q.
It seems like a big amount that is contributing to the OPERATING PROFIT.
Is it a one time event like a sale of engines and subsequently leasing back or some recurring income?