Posted by i3lurker > 2023-09-03 13:18 | Report Abuse

It has no meaning.
It is very normal practise to submit a draft to BURSA first to review.
BURSA is very kind, so wants to make sure that your trend of thought is on the right track and is inline with BURSA requirements to get approval.

Otherwise last minute submit PN17 plan and everything is all wrong is already too late. BURSA treats listed companies as their friend.

No meaning at all, normal practise.

Posted by speakup > 2023-09-04 20:32 | Report Abuse

TTB is gonna be angry at SSLee

Posted by ykyew11 > 2023-09-04 20:37 | Report Abuse

You might as well write to other IBs like Maybank IB, Kenanga and Hong Leong IB. Maybank mentioned that "Capital A will soon escape PN17" while Kenanga mentioned "It is on track to announce PN17 regularisation plan by Oct 2023", Hong Leong even increased their Target price from RM1.15 to RM1.45. If the analysts are more or less parroting the same thing, perhaps they have already been given snippets of the regularisation plan during the recent analyst briefing, hence why their outlook are still somewhat positive.

Posted by BursaMaster121212 > 2023-09-04 23:19 | Report Abuse

i read other broker reports, they also mention similar things like Capital is eying to lift up the PN17 by certain timeline.....not sure why SSLee only targets TA. I think he should write in to other IBs also.

Posted by Sslee > 2023-09-05 07:53 | Report Abuse

BursaMaster121212 i read other broker reports, they also mention similar things like Capital is eying to lift up the PN17 by certain timeline.....not sure why SSLee only targets TA. I think he should write in to other IBs also

Nowadays even a qualified and certified CFA IBs Analyst swallow hook, line, and sinker what is presented to them during CapitalA IBs analyst briefing without question ask.

● Revised official submission deadline to October 2023, aim to execute the plan in 4Q23/1Q24

That is why I suggest IBs analyst should include the briefing material, transcript of Q&A and interview as appendix.

I only have access to TA and Kenangan Analyst report and I found TA analyst make so many fundamental error/mistake that even an accounting student should not make.

By the way if you still holding CapitalA or thinking of buying CapitalA on the dip, my advise is whatsapp my email to your broking house or remisier and ask for their opinion.

Note: My email is with below CC list:
Investor Relations • investorrelations@ta.com.my
samuel.y@maybank-ib.com
mswatch@mswg.org.my
aduan@seccom.com.my
eeditor@bizedge.com
kanagaraju.s@bizedge.com

Posted by i3lurker > 2023-09-05 09:49 | Report Abuse

Buying up minority shares in AAX to approve issuing 5 billion AAX shares to CapA members boosted it up to 2.00.

AAX may go bust soon, if bad luck next 12 months covid or recession already insolvent, inherently loss making to begin with.
fly more die more, more time more die

=> The good news is giving BURSA a fake solvency test is not a criminal offense.

So as usual nothing will happen.

Posted by ykyew11 > 2023-09-05 11:14 | Report Abuse

"Nowadays even a qualified and certified CFA IBs Analyst swallow hook, line, and sinker what is presented to them during CapitalA IBs analyst briefing without question ask."

Now you just sound bitter that the analysts didn't share the same negative opinion as yourself.

How do you know what went on during the analyst briefings since you are obviously not invited or did you just made an assumption because they wrote things you didn't like? Give it a rest, your biases are showing.

Posted by Sslee > 2023-09-05 11:55 | Report Abuse

https://www.capitala.com/misc/2Q23-presentation-capitala.pdf

Financial Results Briefing:
Second Quarter 2023
29 August 2023

Capital A Corporate Highlights
● Capital A structure
- starting in June 2023, consolidated Thai AirAsia
- increased effective stake to 100% in Philippine AirAsia
- enabling a more effective strategic alignment that fortifies AAGL’s market positioning.
- better clarity on airline performance

● Capital A has arrived more than an airline
- ADE raised USD100 mil
- Teleport finalised USD35 mil loan
- Superapp finalising a termsheet to raise USD40 mil

● Capital A financial
- Group EBITDA up 325% YoY to RM462 mil on the back of Revenue of RM3.2 bil
- Group operating cash flow over RM1 bil.

● In 2Q23, operating 146 aircraft with remaining 54 aircraft aim to reactivate by end of 2023. Slower than
expected reactivation progress was due to:
- Shortage of aircraft components and cabin furnishings in the market
- Aging aircraft require extensive maintenance services such as seat removal and comprehensive cabin interior overhauls

Conclusion:
More Aircraft for growth
Aggressive Fleet Growth
● Fleet reactivation alone is not enough to sustain our growth trajectory. After reactivating our fleet, we need to grow the fleet further.
● Orderbook of 362 aircraft to be delivered over the next 12 years, beginning 2024. Of the 362, financing is secured for 73 aircraft through Sales and Leaseback (SLB) arrangement with several lessors.
● We are also leasing 15 additional aircraft - 9 to be delivered in 2024, 6 in 2025.

Fundraising Outlook
● Expecting to fundraise approximately USD800 million for aviation business growth through a combination of syndicated local club loan in Malaysia, revenue bond issuance and equity fundraise.
● Also expecting to close USD40 million for Superapp and potentially raise additional USD40 million for Teleport.

Ancillary Income Drivers
● Successful experimentation with ancillaries flow and bundling expected to deliver accretive impact upon rollout beginning 4Q23.
● New ancillary products in the pipeline to deliver additional revenue opportunities.

Growth Catalysts
● There is no bottleneck in terms of manpower resources for future fleet growth.
● In August Thailand has relaxed visa requirements for Chinese travellers, setting the stage for increased travel demand from China.

PN17
● Revised official submission deadline to October 2023, aim to execute the plan in 4Q23/1Q24

Posted by i3lurker > 2023-09-05 12:47 | Report Abuse

anymore extension of time and CapA will no longer qualify for PN17 exit removal forever and ever as flying losses mount

fly more die more
more time more die

Posted by Sslee > 2023-09-05 14:02 | Report Abuse

As at 31/3/2023
Capital and reserves:
Share capital: RM 8,659,652,000
Merger deficit: RM (5,507,594,000)
Other reserves: RM 245,060,000
Foreign exchange reserve: RM (83,054,000)
Accumulated losses: RM (8,866,093,000)
Share holder RM (5,553,254,000)
Non-controlling interest: RM (3,822,946,000)
Total equity RM (9,376,200,000)

As at 30/6/2023
Capital and reserves:
Share capital: RM 8,659,652,000
Merger deficit: RM (5,507,594,000)
Other reserves: RM 266,894,000
Foreign exchange reserve: RM (1,657,962,000)
Accumulated losses: RM (10,151,810,000)
Share holder RM (8,390,820,000)
Non-controlling interest: RM (1,813,867,000)
Total equity RM (10,204,687,000)

Cash flows from financing activities:
Acquisition on non-controlling interests: RM (52,061,000)
Intangible assets: RM 4,698,958,000
Acquisition of a subsidiary:
Goodwill: RM 1,971,100,000
Landing rights: RM 1,971,900,000
2Q2023 - increase effective stake to 100% in Philippine Air Asia
An acquisition of goodwill of RM 1,971,100,000 sounds like a bailout for the non-controlling interest.

Question 3: Pre-acquisition what is the group effective holding in Philippine Air Asia?
Question 4: Pre-acquisition who is/are the non-controlling interest shareholder/shareholders?
Question 5: Is the deal a willing buyer, willing seller deal and why CapitalA did not publish the details of the deal?

i3lurker,
Is it legal for CapitalA to enter to this deal that transfer more than 2 billion negative non-controlling interest equity, to equity of capitalA shareholders without any prior annoucement, publish the contract S&P terms and conditions, salient feature, what are the rational reasons for the acwuisition and how it will impact capitalA financial account post acquisition?

Did CapitalA broke any Rule and Regulation of Bursa and SC?

I will write an official complaint to SC and Bursa next weekend urging SC/Bursa to investigate the deal.

Posted by i3lurker > 2023-09-05 15:19 | Report Abuse

CapA assets are worth zero

is it illegal to buy something worth zero and issue 5,000,000,000 AAX shares is up to willing buyer and willing seller

Posted by EngineeringProfit > 2023-09-05 15:20 | Report Abuse

Not shariah compliant kah???