Maybank Investment Bank analyst Samuel Yin values Capital A’s short-haul business at RM4.4 billion, or 80 sen per share, based on a forward PER (FY2024) of eight times. This is higher than the company’s current market capitalisation of RM3.08 billion, based on its latest share price of 74 sen.
Yin says AirAsia group “has the recipe” to to deliver, while keeping the low-cost, long-haul model viable.
Posted by Sslee > 1 hour ago | Report Abuse
AirAsia X has until April 28 to submit its restructuring plan
Capital A's negative equity amounts to 5.8 billion ringgit, according to Samuel Yin Shao Yang of Maybank Investment Banking Group in Kuala Lumpur.
Yin says AirAsia group “has the recipe” to to deliver, while keeping the low-cost, long-haul model viable.
“Jet fuel may be high, but so are fares. Also, aircraft lease rates are very cheap now relative to pre-Covid. [The lease rate for] widebody aircraft is up to 70% lower. Plus, Malaysia Airlines is not aggressively rebuilding capacity. The whole dynamic for long haul has changed,” he tells The Edge.
“After the restructuring, after getting rid of the negative shareholders’ equity and delivering at least two profitable quarters, interest in the stock will return.”
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.
My advise is sell and wait for Fernandes' to submit restructuring plan to stock market regulators in late April.
AirAsia X has until April 28 to submit its restructuring plan to stock market regulators. While Capital A's deadline is not until July, Fernandes said the plan to be submitted in late April will address the restructuring of both concerns. He argues that the PN17 status is mainly about disagreements over accounting standards and does not reflect fundamental solvency issues
If you scroll back to his past comments he didn't advise to buy at 60c. For the regularisation deadline for Capital A it is 7July 2023. You can check the company announcement on Bursa website.
He didn't advise to buy when it was 60c and at that time he was actively writing in this forum. What a Kon artist.
------------ If you scroll back to his past comments he didn't advise to buy at 60c. For the regularisation deadline for Capital A it is 7July 2023. You can check the company announcement on Bursa website.
Any reasons why should I advise people to buy a PN17 company at 60 cents?
StartOfTheBull If you scroll back to his past comments he didn't advise to buy at 60c. For the regularisation deadline for Capital A it is 7July 2023. You can check the company announcement on Bursa website
Some people in this forum are actually encourage people to buy and chase high.
I just give my 2 cents based on the past and latest quarter end 31/12/22 financial report, you should not buy and if you already bought then you should sell.
The 10 million free seat sale is currently available and it is applicable only for the travel period between 4th September 2023 to 13th August 2024. The promo covers local Malaysian destinations including Langkawi, Penang, Johor Bahru and more with all-in prices from RM23 one-way. Meanwhile, ASEAN destinations under the promo include Jakarta, Bali, Bangkok, Ho Chi Minh City and more, with all-in prices from RM60 one-way. The advertised all-in price includes airport taxes, MAVCOM fee, fuel surcharge and other applicable fees.
If demand is so good why promote pay now for travel period between 4th September 2023 to 13th August 2024?
Sorry guys.. I dont know what meaning of analysis. Covid 19, 3 years and Aasia still standing with 79c share price in bursa malaysia. And now everything back to normal and the people still talking about Aasia financial topic. Sorry i am not study so much like sifu. And i still hold rm200k with 78.5c capitalA share. Good luck to. Me...
Any beer Sslee wants to drink… he wants to get free from stock market winning. Pathetic guy. Must be Sslee getting married expenses must come first from stock market winnings before Sslee could get married??? Haha
Sslee Know what, i3lurker even scolded me when I just make a trading buy on Jaks at 18.5 -19 cents for my free Bintang Beer. 4 hours ago
Controversial Sifu who promote AAX but not capt A knowing that they will move the same ... A win for one will be win for the other this is the stock market dont fully listen to anyone and make ur own wise choice... study the stoock abit and make ur decision :) many free beer around !!
Sslee must be God of Gamblers if he always wants to get free things from stock market winnings. You all look at his Chow Yuen Fatt picture that he uses in i3. Haha. See the link below… https://fb.watch/jl9LqpQ9i-/?mibextid=v7YzmG
What has change in the last 5 financial year? Allow me to ask the queations:
Why in year end 31/12/2019 with revenue RM 12.445 billion but PBT is negative RM 549,755,000 and NP to SH is negative RM 303,722,000? Whereas in year end 31/12/2018 with revenue of RM 10.603 billion the PBT is positive RM 1,364,710,000 and NP to SH is Positive RM1,979,972,000? Is Stony cooking the book? If in 2019 with record revenue of RM 12.445 billion still loss making what had gone wrong? As at 31/12/2022 net worth of negative RM 5,784,892,000 or NAPS of negative RM 1.3885 how should you value CapitalA? It is worth 79 cents? Moving forward if in 2019 with revenue of RM 12.445 billion still cannot make profit and now with high debts and net worth of negative RM 5,784,892,000, can capitalA make profit again?
Good morning Sslee, I would attempt to give my humble 2 cents....
In Y2018, the Revenue was at 10.6 Billion with PBT of 1.36 Billion is just very fine margins. Possibly even less than than 10% with Taxes and Provisions.
In Y2019, even with slightly higher Revenue of 12.445 Billion there was a Negative PBT of half Billion. The Revenue could have increased from Sales of "Future Seats" but accounted as Sales (current year), which should be under Receivable Provisions?
Secondly, it could be the fine margin was breached with higher Cost and Rentals Paid, and thus a bad year for the Company?
Or it may be the other way around as Sales done in Y2018 were taken into Revenue, transferred from Account Receivable from Tickets Sold??
Perhaps, you could be more direct to explain the discrepancies?
Posted by Sslee > 17 minutes ago | Report Abuse
What has change in the last 5 financial year? Allow me to ask the queations:
Why in year end 31/12/2019 with revenue RM 12.445 billion but PBT is negative RM 549,755,000 and NP to SH is negative RM 303,722,000? Whereas in year end 31/12/2018 with revenue of RM 10.603 billion the PBT is positive RM 1,364,710,000 and NP to SH is Positive
Moreover, did you not highlighted in their total outstanding Debts which includes over RM4 Billion was "Refundable" to tickets sold (flight cancelled due to covid-19 from Y2019 to Y2021??)
As such, their Revenue and Profit margins OVERLAPS Y to Y and with fine margins could dip below the line???
Stock: [CAPITALA]: CAPITAL A BERHAD 17 hours ago | Report Abuse 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.
The answer: 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
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Mikecyc
44,173 posts
Posted by Mikecyc > 2023-04-06 14:55 | Report Abuse
Haha forgotten Rule Number One ke : Never beloved a Stock … hohoho