Posted by Anti_debt > 2016-11-23 20:14 | Report Abuse

Why forget MRCB?

Total debts: RM 3.148 billion. Interest expense : RM 44.4 million(30th June 2016)
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5186725

Posted by Anti_debt > 2016-11-23 20:14 | Report Abuse

DRB also plenty of debts.

Posted by Blink22 > 2016-11-23 20:16 | Report Abuse

I like critical thinking articles.

Easier to teach someone to push shares, to promote shares than to teach some one to possess critical thinking skills.

Posted by Anti_debt > 2016-11-23 20:18 | Report Abuse

DRB-HICOM BERHAD
(203430-W)
(Incorporated in Malaysia)

21. BORROWINGS AND DEFERRED LIABILITIES
Total Group borrowings are as follows:
As at
30.06.2016
RM’000
Short Term Borrowings
(a) Bank overdrafts
- Secured 12,264
- Unsecured 8,008
Total 20,272
(b) Others
Secured
Bankers acceptances 12,533
Revolving credits 48,107
Short term loans 10,484
Short term loans under Islamic financing 290,683
Hire purchase and finance lease liabilities - portion repayable within
12 months 17,308
Long term loans - portion repayable within 12 months 436,726
Long term loans under Islamic financing - portion repayable within
12 months 559,824
Sub-total 1,375,665
Unsecured
Bankers acceptances 689,946
Revolving credits 341,001
Short term loans under Islamic financing 30,000
Long term loans - portion repayable within 12 months 1,606
Long term loans under Islamic financing - portion repayable within
12 months 3,007
Deferred liability 6,258
Sub-total 1,071,818
Total 2,447,483
DRB-HICOM BERHAD
(203430-W)
(Incorporated in Malaysia)
18
21. BORROWINGS AND DEFERRED LIABILITIES (Continued)
As at
30.06.2016
RM’000
(c) Long Term Borrowings
Secured
Hire purchase and finance lease liabilities 45,465
- portion repayable within 12 months (17,308)
28,157
Long term loans 1,813,748
- portion repayable within 12 months (436,726)
1,377,022
Long term loans under Islamic financing 3,011,975
- portion repayable within 12 months (559,824)
2,452,151
Unsecured
Long term loans 3,328
- portion repayable within 12 months (1,606)
1,722
Long term loans under Islamic financing 263,168
- portion repayable within 12 months (3,007)
260,161
Total 4,119,213
Grand Total 6,586,968
Note: Apart from the following Ringgit equivalent of foreign currency borrowings, the
rest of the borrowings and deferred liabilities are denominated in Ringgit
Malaysia.
As at Amount
30.06.2016 RM252.77 million (SGD 84.71 million)
RM754.68 million (USD 183.19 million)
RM30.66 million (GBP 5.54 million)
RM3.25 million (Baht 28.40 million)
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5193217

Posted by Anti_debt > 2016-11-23 20:20 | Report Abuse

DRB debts : RM 6.587 billion.Interest expenses RM 92.99 million.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5193217

Posted by calvintaneng > 2016-11-23 20:23 | Report Abuse

Posted by buddyinvest > Nov 23, 2016 08:08 PM | Report Abuse

It's time to switch to another bomb, ie bompuri


Anti_debt
84 posts
Posted by Anti_debt > Nov 23, 2016 08:14 PM | Report Abuse

Why forget MRCB?

Total debts: RM 3.148 billion. Interest expense : RM 44.4 million(30th June 2016)
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5186725


Anti_debt
84 posts
Posted by Anti_debt > Nov 23, 2016 08:14 PM | Report Abuse

DRB also plenty of debts.

My friends

Calvin is talking about Rm32 BILLION AAX DEBT Which is visible by 29 Delivered AAX planes & in Off Balance Sheet Total is RM110 BILLION

Yes, buddyinvest

Now CPO prices have shot past last time high of Rm2,800 a tonne. I expect CPO to cross Rm3,000 per tonne soon. So just hold tight all Oil Palm counters.

Anti-Debt

You must look at the total Intrinsic NET NET of DRB

DRB shares of 53.5% POS & All 10 Pieces of Report Real Estates if Sold are worth over Rm5 Billion. If Assets are revalued to current prices the cash should be more than Rm7 Billion. More than enough to settle all debts.

There is still suplus from Puspakom, 70% shares in Bank Maumalat & many other assets

The Total NTA of DRB is over Rm3.00 (So it has a Big Margin of Safety)

As for AAX the NTA consists of planes which will rust like Hubline's ships some day.

Posted by calvintaneng > 2016-11-23 20:28 | Report Abuse

Posted by Mango Juice > Nov 23, 2016 08:24 PM | Report Abuse

Anyway, Aax only has 1.1 billion debts! I don't know how Calvin can get 110 billion!

Fortunebullz

Go and study AAX latest quarterly result yourself

Rm110 BILLION for Plane purchase is stated there as Off Balance Sheet accounting!

Now just think.

How could the real debt of AAX be only Rm1.1 Billion when One A330 300 plane alone costs over Rm1.3 BILLION?

And 29 of them are now flying.

There is a big cover up!

Posted by calvintaneng > 2016-11-23 20:30 | Report Abuse

AAX?

A = chun
A = chun
X = X-Rayed by Calvin Tan Research

Sell now mango juice or later

A = Aiyoo
A = Aiyoo
X = eXecuted

Posted by Daniel Yap > 2016-11-23 20:39 | Report Abuse

calvin count next future 20 years debts all together. Which he might don't know the future 20 years ordered plane can be cancel 30% of the total plane ordered anytime, the rest of the plane will be only deliver year by year. And also forgot to tell add more plane every year means revenue more and profit more, AAx/airasia can pay the debts actually. Their cash flow very well manage by management. The above info can be found at the financial report.

Posted by aidwiz > 2016-11-23 20:43 | Report Abuse

u really like writing eh calvin. i enjoyed reading humor.

Posted by Daniel Yap > 2016-11-23 20:47 | Report Abuse

The funniest thing is, who the hell will borrow more than 110billion to a company which make profit 11million a qtr. Is impossible, it is not current debts. hahahaha..... Funny la...

Posted by danielng > 2016-11-23 20:54 | Report Abuse

hahaha

Posted by Icon8888 > 2016-11-23 20:54 | Report Abuse

Berjaya corp also high debt

His high debt ok, other people not ok

Posted by calvintaneng > 2016-11-23 21:05 |

Post removed.Why?

Posted by Icon8888 > 2016-11-23 21:07 | Report Abuse

Don't lie, don't mislead. Be a good Christian

Posted by calvintaneng > 2016-11-23 21:08 | Report Abuse

You guys just think now

AirAsia X has a total of 29 Planes now flying in Malaysia, Thailand & Indonesia

A330 300 Plane cost over Rm1 Billion each.

How could the debt be Rm1.1 Billion?

Just use your brain. Can't you?

Posted by calvintaneng > 2016-11-23 21:10 | Report Abuse

Icon8888 Don't lie, don't mislead. Be a good Christian
23/11/2016 21:07

You are a liar & also a con man!

You said that I only got 1 call correct out of 70

You lied about the Actual Net Worth of BJ CORP!

Posted by Benjamin_8888 > 2016-11-23 21:14 | Report Abuse

Blue bird Calvin you the best, ok bo?

Posted by John Lu > 2016-11-23 21:17 | Report Abuse

Calvin naked in front of us again...funny

Posted by Icon8888 > 2016-11-23 21:21 | Report Abuse

Calvin is no more irritating. It is entertaining. A clown bird

Posted by John Lu > 2016-11-23 21:22 | Report Abuse

Calvin like to naked and dance to show to us...he is a very good 脱衣舞娘

Posted by Icon8888 > 2016-11-23 21:23 | Report Abuse

Ok I think I might have got you wrong. Maybe it was not 1 out of 70, maybe it was 2 ?

Does that make it any better ?

Posted by calvintaneng > Nov 23, 2016 09:10 PM | Report Abuse

You are a liar & also a con man!

You said that I only got 1 call correct out of 70

You lied about the Actual Net Worth of BJ CORP!

Posted by Icon8888 > 2016-11-23 21:24 | Report Abuse

LOL stripper clown... Spooky...

John Lu
100 posts
Posted by John Lu > Nov 23, 2016 09:22 PM | Report Abuse

Calvin like to naked and dance to show to us...he is a very good 脱衣舞娘

Posted by calvintaneng > 2016-11-23 21:25 | Report Abuse

Posted by Icon8888 > Nov 23, 2016 09:23 PM | Report Abuse

Ok I think I might have got you wrong. Maybe it was not 1 out of 70, maybe it was 2 ?

Does that make it any better ?

Posted by calvintaneng > Nov 23, 2016 09:10 PM | Report Abuse

You are a liar & also a con man!

You said that I only got 1 call correct out of 70

You lied about the Actual Net Worth of BJ CORP!


YOU ARE THE LIAR!!

NOW YOU WANT TO WRIGGLE OUT?

Posted by Icon8888 > 2016-11-23 21:25 | Report Abuse

Stripper clown cool down...

Posted by John Lu > 2016-11-23 21:27 | Report Abuse

Calvin please masterbate to show us...I m bored with your naked dance already...please do something like masturbate in front of us let us laugh at u

Posted by calvintaneng > 2016-11-23 21:27 | Report Abuse

Posted by Icon8888 > Nov 23, 2016 09:25 PM | Report Abuse

Stripper clown cool down...


ICON8888

Hahaha!

TIME FOR ME TO EXPOSE THE LIAR AND THE CONMAN!!

CON = CON AS IN CHEAT, BLUFF, MISREPRESENT, ACCUSE

8888 = SO ALL SORCHAI LET YOU MAKE THEIR HARD EARNED MONIES!!

Posted by Icon8888 > 2016-11-23 21:29 | Report Abuse

Seriously Calvin, nowadays you are entertaining... Everybody loves your articles...

Posted by Icon8888 > 2016-11-23 21:33 | Report Abuse

Anyway, all eyes on coming quarter result for Binapuri. If good, then can go 50 sen. Otherwise remain Binabully

Posted by Icon8888 > 2016-11-23 21:34 | Report Abuse

Not victim lah. We all love Calvin

Posted by John Lu > 2016-11-23 21:36 | Report Abuse

Reading Calvin article will make me laugh for at least few hours...I started to use his article as my daily jokes

Posted by Icon8888 > 2016-11-23 21:38 | Report Abuse

His article on Airasia is the best. Ask to sell at 253 and in the same day shot up to 272

Like watching a comedy

Posted by Lulu La > 2016-11-23 21:39 | Report Abuse

He is a real joker.....

Posted by John Lu > 2016-11-23 21:40 | Report Abuse

I cant wait to watch next episod of comedy in AirAsia by Calvin.

Calvin, please post another article fast

Posted by Icon8888 > 2016-11-23 21:42 | Report Abuse

His call on gadang also very chun, ask to panic sell, now almost back to my selling price of 290...

Posted by Icon8888 > 2016-11-23 21:43 | Report Abuse

Don't say like that lah. We where got bully him. We all love him and his articles

Posted by John Lu > 2016-11-23 21:44 | Report Abuse

Calvin will hide in toilet in Jurong cry only...he wont suicide one coz his face very thick

Posted by John Lu > 2016-11-23 21:45 | Report Abuse

His face thick than yellow pages

Posted by John Lu > 2016-11-23 21:46 | Report Abuse

Koon Bee sifu also no eye see Calvin already and KB sifu ask me come to play with Calvin

Posted by coolinvestor > 2016-11-23 22:00 | Report Abuse

does this stupid clown actually read newspapers? the price he gave is a listed price ...but everyone knows there is a 30% discount or more when TF buys from airbus. its already public news

and why is he one shot lumping all the planes together? i tot they are being delivered staggered year by year?

this article is TOTALLY misleading and not checking the facts properly.

bad bad bad christian

Posted by John Lu > 2016-11-23 22:03 | Report Abuse

Bjcorp hip hop hoorey...rm10

Posted by coolinvestor > 2016-11-23 22:03 | Report Abuse

its not investment approach of calvin tan

its really

HOW TO CREATE FAKE & FAIRY TALE SPIN IDEAS OF CALVIN TAN

BEST!

Posted by John Lu > 2016-11-23 22:04 | Report Abuse

Mulpha...kaboom...back to its NTA 89c...hahahaha...bayang pun tak nampak...now 52 weeks low

Posted by coolinvestor > 2016-11-23 22:05 | Report Abuse

lol kena bomb by so many people. must hide face in mud dy

Posted by coolinvestor > 2016-11-23 22:08 | Report Abuse

why o why does he likes to write half past six stories?

really no one pay any attention to him meh?

i suspect so....serious case of NPD

Posted by staind86 > 2016-11-23 22:09 | Report Abuse

Mr Calvin, my opinion below.

First and foremost, airlines do not purchase aircraft at list price like you mentioned (A330-300 at USD256.4mil/aircraft). It is usually sold at much lower price depends on bulk purchase and negotiation.

Secondly, the figure RM110 bil you pointed out is the capital commitment for aircrafts purchase over the next 12 years. Future minimum lease payments and sublease receipts under non-cancellable operating leases are RM8.5bil and RM2.4bil respectively in 3Q16 report. However, this figure is for 12 years. You must refer 2015 annual report for clearer picture for both the capital commitment and min lease. In annual report 2015, you will see the min lease payment is around net ~700mil/annum for 2016. It is much less for the years after 2016 but have to do some maths (data available, so you can do yourselves). As AAX is reporting their aircraft purchase using operating lease accounting practice, this minimum lease payment is the rent for using the aircraft. Under this accounting practice, they do not recognise depreciation of the aircraft although I suspect, not all aircrafts are categorised this way or subleasing the aircraft out require them to book some depreciation (the reason we are seeing depreciation around ~RM27mil). As such, for their ~RM4bil business, the aircraft renting part cost them around RM700mil/annum and they booked them under Operating Expense. Again, the RM110 you mentioned is the capital committed in 12 years to purchase the aircrafts.

Now, they have been saying that they will sell out Asia Aviation Capital Limited (AACL). Basically, this company will lease the planes to all Airasia and its associates companies. This company will also assume the asset of the planes, debts, and the depreciation. Also, by having a lessor, I think they will have more flexibility on aircraft utilization too. This is how TF intends to unlock the value.

I am not an accountant. But I hold an MBA and I like accounting. So, any sifu please correct me if I am wrong.

Posted by coolinvestor > 2016-11-23 22:13 | Report Abuse

time for this fake saint n clown to go back to school

stupid car salesman

we must do the newbies a service n expose this fake calvin

spreading so many fake stories. shit

Posted by John Lu > 2016-11-23 22:13 | Report Abuse

Calvin is only car salesman...thats why his account kindergarten level

Posted by calvintaneng > 2016-11-23 22:30 | Report Abuse

Staind86?

You are stained by aiyoo aiyoo eXecuted?

"Under this accounting practice, they do not recognise depreciation of the aircraft although I suspect"

How could AAX be in possession of 29 AAX Planes AIRBUS 330 300 Worth Over USD 256.4 Million each.

Even if AAX bought them at big discount still there will be at least more than half a billion each.

So after several quarter losses now only a mediocre Rm11 mil profit?

If AAX were to close down tomorrow

The worth of planes as currents assets worth how much?

And what are the hidden debts "Off Balance Sheet"?

See

http://cgmalaysia.blogspot.my/2011/08/air-asias-accounting-issues.html

http://www.businesstimes.com.sg/transport/airasia-accounting-cash-flow-questioned-in-gmt-research-report

http://rmi.nus.edu.sg/gcr/weekly/WCBJUN16JUN222015.pdf

Posted by AndyLow > 2016-11-23 22:31 | Report Abuse

calvin are u really a fake fella who wants attention as stated by some ppl?

just curious sorry