http://www.thestar.com.my/business/business-news/2016/11/15/diary-malaysia-2016-corporate-earnings/

Curious 2, i just quoted on what Calvin Tan told others!

Curious2, yes, I am shareholder of AirAsia

Hope not many follow Calvin Tan sell call and lost money today!

http://klse.i3investor.com/blogs/www.eaglevisioninvest.com/109170.jsp

Sell AirAsia earlier before Foreign Funds are dumping (Calvin wants fellow i3 Forumers safe & sound)

Tony Fernandes must be stupid if you read Calvintan's quoted numbers! The AirAsia's auditors all these years are stupid as well with such a hugh hole as pointed out by the infamous "Cavintan Reasearch". Tony must be getting more stupid by taking more shares with his partner? Calvintan cannot even match "value growth" on the facts and figures! Maybe he should be better off to remain as a car salesman!

He call himself Calvintan Research, what a joke? A car salesman trying to be a financial guru! Where is GMT that scared the hell of everybody last year. The big fart has gone! Little fart still farting!

Airasia's forex hedge - felicity
http://klse.i3investor.com/blogs/kianweiaritcles/109146.jsp

Rewrite:

Kenanga: 3.82
Hong Leong: 3.85
Nomura: 3.88
JP Morgan: 2.50

Target Price:

Kenanga: 3.82
Hong Lwong: 3.85
Nomuea: 3.88
JP Morgan: 2.50

Nomura put a buy call on AirAsia (On Edge Daily today)

Yes! Inching towards disposal of AAC. It is in the STAR paper as well.

If Tony sells AAC to BOC can get good price!

http://mobile.reuters.com/article/idUSKCN12303C

http://csimarket.com/Industry/industry_valuation_ttm.php?pb&ind=1102

Assuming you have a business with NTA 1 dollar with EPS of 10 sen and a future growth of say 5%, would you sell it for 1 dollar? That is selling at 1 time book value!

AirAsia with it divestment of AAC will have an NTA of roughly 2.50. EPS easily 30 sen. Growth 5% (should be there with 100 new Neos ordered). JP Morgan fair price at 2.50 is saying fair value is about 1 time for AirAsia. Is this logical?

Let JP Morgan and some others drive down and you can buy cheap!

Valuation base on NTA makes sense for airline businesses due to high debt on high capex

Price to book ratio: Ryanair

https://ycharts.com/companies/RYAAY/price_to_book_value

Price to book ratio (P/B) for low cost airlines

http://csimarket.com/Industry/Industry_Valuation.php?ind=1102

On the industry basis is 2.57

AirAsia current NTA is about 2 ringgit. At industry basis, AirAsia is already value at slightly more than 5 ringgit. With AAC sale, AirAsia value at 2.57 P/B comes close to 6.50.

Even I take a discount to 1.5 P/B, AirAsia's value is:

1) 1.96x1.5= 2.94 (without AAC sale)
2) 2.56x1.5= 3.84+special dividend (with AAC sale)

Note:
1) 1.96 is due to dilution on an enlarged share base.
2) 2.56 is base on sale of AAC with 50:50 split on paring down debt and special dividend

Where is Gillem Tulloch now, the GMT founder? Did he come out to defend his earlier stand on AirAsia? AirAsia's share price has gone higher since he released his report. Why is he keeping quiet now? He should have come out to explain all this! Are they credible or responsible people? Now Hoy Kit Mak, also from HK, coming to do the show!

The GMT report has caused so many people to loose money last year!

The sale of AAC is equivalent to half the current AirAsia market cap. Definitely JP Morgan don't want to miss this!

If I see the real reasons to sell, I will sell quietly!

Is this coincident or what? Just lately, UOB KayHian, TA and now JP Morgan are all jumping in to do a sell call on AirAsia. That I remember, all 3 are not active in providing valuation reports. Is AirAsia business turning bad now that it deserve a sell call or actual they see value in AirAsia that they wanted to buy in? Not sure what is their real intentions?

It will be an exciting week to watch!

Ryanair PE is more than a 100 times, and yet Hoy Kit Mak of JP Morgan is calling a sell of AirAsia at single digit PE3

Low cost airline is a viable business as long as you are amongst the lowest cost in the world. AirAsia is in this league!

Ryanair share price at 77.5 and 2015 EPS at about 0.62. I will sell Ryanair and buy AirAsia!

Ryanair share price was trending sideway for about 4 years from 2008 to 2011.

If you click on Yahoo Finance on Ryanair price chart, you will see many pullbacks. The big ones are in 2007 and lately 2016. Despite all these, Ryanair's share price still gained about 22 times in 20 years!

If you look at Ryanair, its share price is up about 22 times since 20 years ago. A 50k investment has becomes a million. This is not including dividends and additional share distribution on buybacks. It is good to remind Tony in the AGM on Ryanair performance! After all he loves challenges, right?

More important, the low cost airline business is a viable one as you can see on Ryanair. It needs a good business leader to lead a good management team to make it happened!

Why Bogle and Buffett tell investors to ignore market noise http://www.marketwatch.com/story/why-bogle-and-buffett-tell-investors-to-ignore-market-noise-2015-06-04

Good Morning! To invest is to reap the gain in the future, hopefully every year for many years where you will get additional gain on the power of compounding! If you look at Ryanair which is roughly 10 years ahead of AirAsia. If we study enough of Ryanair, it is likely you maybe able to see 10 years ahead for AirAsia. Although it is not exactly the same, it should have many similarity. Happy investing!

One of Charlie Munger's Thinking: Regardless of your strategy, Munger makes it clear that having a long-term orientation with minimal activity can be a huge advantage:
There are huge advantages for an individual to get into position where you make a few great investments and just sit back. You’re paying less to brokers. You’re listening to less nonsense…If it works, the governmental tax system gives you an extra one, two, or three percentage points per annum with compound effects.
A relentless reader, Munger believes that any good investor should spend the bulk of their time in the pursuit of knowledge and understanding:
I don’t think you can get to be a really good investor over a broad range without doing a massive amount of reading.

"AirAsia gets offers for aircraft leasing unit" is on the front page of the latest copy of The Edge Weekly

Why Ryanair succeeds! https://airlinesairports.wordpress.com/2013/06/26/why-ryanair-succeeds/

The estimation is on the condition of full divestment of AAC with 50% of the proceed use to pare down AirAsia's debt and the other 50% as special dividend.

https://ycharts.com/companies/RYAAY/price_to_book_value

The complete sale of AAC will translate to about 1.20 per share on an enlarged share base of 3.342 billion shares. Assuming 50% is paid for special dividend and the other 50% is used in paring down the debt.

Current AirAsia NTA is about 2 ringgit. RM2.0 x 2.783bil (current share base)= 5.57 bil.

New NTA after sales of AAC with 50% to pare down debt + another 1 bil pump in for new shares add up to (5.57+2.0+1.0)/3.342 (enlarged share base) = 2.56

At current share price of 2.90, Price to book ratio is 2.90/2.0=1.45

With new NTA of 2.56 and if P/B is maintained at 1.45, TP is 2.56x1.45=3.712

With another 60 sen paid as special dividend, total value is roughly 4.30

Those that hope for gap down tomorrow must have sold out earlier! Too bad.

Calvin, if you are so good, you should not be barking here liao!

I think is better off he writes kindergarden story for the kids

What a load of rubbish! Better do comic books!

EPF has gone below 5% holding since Jun 8. If EPF continue to sell since Jun 8, the remaining shares on-hand is low now!

Something to ponder: Why is EPF net seller for the month of March to May? And why Wellington just choose not to do anything for the same period? Wellington is about as big in holdings.

Knowing EPF is selling, the buyers will only want to buy lower and bargain hunt. If EPF remaining shares are sold out, the situation will be very different. Just see the chart for NTPM at the end of 2012 when Lembaga Tabung Haji sold out.

EPF's 5% at cessation, about 140 million shares is not a lot if the average transaction volume is 20 to 30 million a day.

EPF was net seller for Mar to May. Total net sold during this period was about 30 million shares.

EPF has gone submarine since Jun 8. Question is whether EPF will continue to sell after cessation. 5% holding is about 140 million shares. Today is the sixth day after Jun 8 cessation.