Posted by Sslee > 2024-03-02 20:58 | Report Abuse

Covid-19 had totally destroyed capA balance sheet. The only way to rebuilt/reset the balance sheet is debts restucture where everyone need to take a haircut. But for reason only knew to Stony only AAX go thro' a debts restructure but not capA.

With net current liabiliaties of RM (12,507,207,000) where can capA going to get the money to fulfill the obligation to pay the current liabilities for next 12 months.

31/12/2023: 31/12/2022
RM'000: RM'000
Total equity: (10,469,461): (9,516,958)
Shareholders' equity: (8,710,574): (5,725,093)
Net current liabiliaties: (12,507,207): (8,509,066)

Posted by OleOleOle > 2024-03-02 21:11 | Report Abuse

Why would lessors not agree to transfer the planes lease from capA to AAX (actually is AA Group, the new entity)?

The new entity AA is the combined business of AAX airline and the CapA plane lease business. Hence, the combined entity AA had higher earning with the combined earnings from both businesses eliminating lease operation costs. Therefore, the new entity is even more stronger. Transfer of planes are just matter of legal documents.

Posted by OleOleOle > 2024-03-02 21:27 | Report Abuse

Merger Offer to AAX:
US$ 600 mil == Cash (US$200 mil bond) + AA Equity (US$400 mil)
[Note: Transfer of planes without the transfer of accounting (i.e.lease debt) would be totally nonsense!!]

AA only paid CapA = RM918.3 mil (1US$ to RM4.5915) cash
*** AAX (or AA?) to raise US$200mil bond (or could be RI)
the balance is in the form US$400mil EQUITY of new entity AA Group

Because the NOSH and PRICE of the new entity AA Group is not determined, that is causing the current chaotic price moving of AAX. This is likely to continue until things are known.

Posted by Sslee > 2024-03-03 00:04 | Report Abuse

Are you high on drug or what?
CapA got planes lease business?

Below are amount capA need to pay to lessors in FY 2023:
From consolidated income statement
RM'000
Depreciation of ROU assets: 449,765 culmulative 12 months 1,574,356
Finance cost-lease liabilities: 252,438 culmulative 12 months 908,771

From Consolidated cash flow statement: cash flows from financial activties
RM'000
Repayment of lease liabilities: (1,664,295)

Note:Under MFRS 16:
(i) On the Consolidated Income Statement, expenses which were previously included under aircraft operating leases will be replaced by a)finance costs – lease liabilities and
b)depreciation of right of use asset

(ii) On the Consolidated Cash Flow Statement, operating lease rental outflows, previously recorded within net cash flow from operating activities, are classified as “net cash flow used in financing activities” for repayment of principal of lease liabilities.

Posted by Sslee > 2024-03-03 00:13 | Report Abuse

Lease liabilities
The lease liabilities amounting to RM18.7 billion includes deferred aircraft leases of approximately RM2.3 billion. The lease liabilities are supported by ROU assets of RM12.1billion.

The Group had completed the restructuring of a total of 161 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.

Posted by Sslee > 2024-03-03 00:23 | Report Abuse

Extrate from choivo capital blog:
Aircraft Operating Lease Income

With the purchase of these huge purchase planes to fund their regional ambitions, as stated previously, Airasia, the Group Company now had a new income stream that would grow far more profitable than expected.

It would not be unreasonable to say that by 2016, this has grown to be their second largest revenue and largest profit contributor.

Without it, the Airasia Group would be lossmaking.

Externally, this also caused huge headaches with 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, i’m sure 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

28 Feb 2018 (Completed 31 Dec 2018) – BBAM Limited Partnership / FLY RM 9,775.6 million and RM 262.3 million (82 Aircraft and 14 Engines)

24 Aug 2018 (Completed 8 August 2019) – Castlelake L.P. USD 739.5 million (RM 3,559.5 million) (25 Aircraft)

25 July 2019 (Completed 31 December 2019) – Castlelake L.P. (RM 1,240 million) (14 Airbus A320-200)

Resulting in net gains of RM 298.8 million and RM 101.54 million, but a net loss in profit of around RM 643 million p.a until the new planes come in.

For the more cynical and realistic individuals, the real reason for the sale would be to settle Tony Fernandes’s and Kamarudin’s RM 1 billion margin loan that taken to inject into the company back in 2016 when prices of the shares were so low

Posted by OleOleOle > 2024-03-03 00:59 | Report Abuse

Are you high on drug or what?
If CapA don't have planes lease business, where are those income from?

Posted by Sslee > 2024-03-03 07:47 | Report Abuse

Go and read the latest quarterly financial report page 22 on where the revenue come from.

Review of Group Performance
The segmental information for the reportable segments for the quarters ended 31 December 2023 and 31 December 2022 are as follows:

Posted by Sslee > 2024-03-03 07:59 | Report Abuse

By the way you sound like someone promoting jaks:

My view on jaks.
Buy jaks only in year 2030. After JHDP pay off the 10 year term loans, JHDP will be a cash cow and can pay yearly big dividend to jaks.

Note: Mike-tikus did not know the share of profit from associate company JHDP is just paper profit. What important is dividend from JHDP. Without the JHDP dividend Jaks will have cashflow problems and need another PP or RI for many year till 2030.

JHDP although reported very good profit but can't afford to give good dividend because the 75% loans taken to finance the project was changed into 10 years term loans. JHPD going to have cashflow problems depreciation is 25 years (good profit) but 10 years term loans (need to pay loan principal and interest in 10 year thus poor cashflow for the first 10 years)

Posted by Sslee > 2024-03-03 08:30 | Report Abuse

LSS4:Revenue contribution of RM4.3 million was recognised in the Group from this division. This division incurred a loss before tax of RM0.4 million in the current quarter due to the depreciation charges and interest expenses.
This one mean have difficult in paying loan principal and interest.

The Group recorded a higher loss before tax of RM18.5 million in the fourth quarter of 2023 as compared to a loss before tax of RM5.3 million incurred in the corresponding quarter of the previous year. The higher loss was mainly due to lower share of profit recognised from the Vietnam joint venture of RM34.5 million, a reduction of RM11.7 million from the previous year’s corresponding quarter, mainly due to higher interest cost incurred by the joint venture, impairment loss on goodwill and receivables of RM23.5 million and RM32.9 million respectively.

The group impairment loss on receivable RM32.9. Mean after net off the reversal of provision made in previous years under Property Investment division the group impairment loss on receivable for FY2023 is RM32.9 million

Posted by Sslee > 2024-03-03 08:39 | Report Abuse

The problem on jaks is how many more receivables in the book will need to impair in future Financial year and why no legal actions taken to recover the receivables?

Posted by Mikecyc > 2024-03-03 09:37 |

Post removed.Why?

Posted by Mikecyc > 2024-03-03 09:39 |

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Posted by Mikecyc > 2024-03-03 09:40 |

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Posted by Mikecyc > 2024-03-03 09:42 |

Post removed.Why?

Posted by Mikecyc > 2024-03-03 09:47 |

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Posted by Mikecyc > 2024-03-03 09:53 | Report Abuse

Jaks

Investment in Joint Venture:

( & PPE )

QR ended

> March 2016 = 128,297,000

( PPE = 19,269,000 )

> March 2019 = 197,171,000

> March 2020 = 362,479,000

> March 2021 = 601,150,000

> March 2022 = 748,656,000

> March 2023 = 829,105,000

( PPE = 273,041,000 )

> September 2023 = 897,378,000

( PPE = 299,238,000 )


—-

👉
2QR ended June 2023 :


Reserves . : 24,909,000


> Accumulated Profit : 343,661,000. ( 1QR 324,951,000 ) ( Audited as on December 2022 is RM 310,874 ,000 )

Gearing Ratio : 0.362X


>> Accumulated Profit on 3QR ended September 2023 : 350,327,000

Gearing Ratio : 3QR ended September 2023 : 0.352 X

Posted by Sslee > 2024-03-03 12:39 | Report Abuse

Pity this dumbass trapped at Jaks 19 floor and refuse to take profit when jaks gap up on ard 1/9/2023 from RM 0.205 to RM 0.245

Me take profit on my Insas from RM 1.16 to 1.35 and balance insas shares is now zero cost to me.

Posted by Mikecyc > 2024-03-03 14:28 |

Post removed.Why?

Posted by Mikecyc > 2024-03-03 14:29 |

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Posted by Mikecyc > 2024-03-03 14:33 |

Post removed.Why?

Posted by Sslee > 2024-03-03 17:26 | Report Abuse

Lol Mike-tikus or OleOleOle you took how many hour to work out all the below funny figures for capA?

That said, refer to Q4FY23 financial statements,
Assets associated with AA leasing:
Non-current Liabilities = -13,434.5 mil (RM)
Current Liabilities = - 5,259.6 mil (RM)
Right to Used = 12,066.8 mil (RM)
------------------------------------------------
Net assets = - 6,627.3 mil (RM)
Note: This amount is to be removed from Cap-A statement.

Merger Offer to AAX: US$ 600 mil
Cash (US$200 mil bond)
AA Equity (US$400 mil)
(1US$ to RM4.5915) = 2,754.9 mil (RM)
Note: This amount will add to Cap-A statement.


Hence, Total AA Leasing assets considered:
= 13,434.5 mil (RM) + 5,259.6 mil (RM) + 2,754.9 mil (RM)
= 21,449.0 mil (RM)
= US$ 4,671.458 mil (=219 aircrafts)
OR Each aircraft = US$21.33 mil (***** vs at least US$25 mil per aircraft for a 2nd handed A320 aircraft)


Back to Cap-A, now how do to get out of PN17?
Total Equity Deficit = - 10,469.5 mil (RM)
AA Leasing Asset removed = 6,627.3 mil (RM)
AA Merger Offer get = 2,754.9 mil (RM)
US Listing Goodwill = 2,360.0 mil (RM)
--------------------------------------------------------------
Net Cap-A Equity = 1,272.7 mil (RM)
== 30c NAPS

Posted by geary > 2024-03-03 20:11 | Report Abuse

Airbus’ Commercial Aircraft CEO Christian Scherer celebrates long-standing partnership with AirAsia during a visit to HQ.
(Compromised Agreement between Airbus/lessor/AA Aviation...AA Must Fly...14th Time Best Low Cost Airline, No. 1 Brand in the ASEAN/Worldwide)!?

SEPANG, 22 February 2024 - AirAsia today unveiled plans to launch the world’s first low-cost network carrier, leveraging 22 years of its unique multi-hub strategy through its airlines in Malaysia, Thailand, Indonesia, the Philippines, and soon Cambodia.

The announcement was made during a welcoming ceremony of the recently appointed Chief Executive Officer of the Commercial Aircraft business of Airbus, Christian Scherer, to RedQ - AirAsia’s corporate headquarters in Malaysia. Hundreds of AirAsia staff, CEOs and management turned out in force to greet the illustrious Airbus leader during his first visit as CEO to the home of over 6,000 team members called Allstars.
AirAsia Newsroom!

Posted by Sslee > 2024-03-03 20:23 | Report Abuse

Stony can dream on so are many regional LCC in SEA.
Stony still live in his nostalgia year where AA rule the SEA sky and he set his big plan for AA India and AA China.

Posted by geary > 2024-03-03 20:34 | Report Abuse

CapitalA International;
Investment Highlights
Owner and licensor of the renowned AirAsia brand, with an iconic presence in airline, travel, and lifestyle, CAPI taps into the growth resurgence of Asia’s largest low-cost carrier and supported by a robust order book.
Operating an asset-light business model, the business generates strong operating margins with minimal inventory and working capital requirements, fortified by stable and recurring revenue stream from royalty fees, driving free cash flow.
The company benefits from access to Capital A's ecosystem, boasting over 50 million users, 22 million loyalty members, and over 56 million social media followers, expanding brand reach and enhancing CAPI’s brand-building capabilities.
Based in Asean, one of the world's fastest-growing economies poised to become the fourth-largest by 2030, the company has a substantial addressable licensing global market of $341 billion, with the Asean market accounting for $5 billion, growing at an impressive 13% annually, outpacing the global average.
Abundant opportunities exist to develop the brand platform:
Extend the AirAsia brand beyond the travel sector by expanding into new industries, categories and geographies through in-house ventures or joint ventures;
Develop new brands that capitalize on the strength of the Asean markets;
Creating character intellectual property and enhance value through partnerships and merchandising; and
Acquire and grow other Asean-based brands
The company is guided by an experienced management team with a successful track record in brand management.
Editor’s Note: Asean (Association of Southeast Asian Nations) is a political and economic union comprised of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.

Key Transaction Terms

Under the terms of the proposed transaction, CAPI will combine with Aetherium and become a publicly traded entity. The transaction reflects an estimated value for CAPI of $1.15 billion. Although the Boards of both CAPI and Aetherium have unanimously approved the transaction, the transaction remains subject to the approval of Aetherium stockholders and other customary closing conditions. Additional information about the transaction, including a copy of the Business Combination Agreement will be available in a current report filed by Aetherium on Form 8-K with the U.S. Securities and Exchange Commission (“SEC”), which may be found at www.sec.gov.

Posted by Sslee > 2024-03-03 20:56 | Report Abuse

Unaudited NA of Brand AA as at 31 December 2023 is RM 14.24 million.

Brand AA Sdn Bhd is the entity has the rights to collect royalty fees from AirAsia Aviation Group Limited (AAAGL), the exclusive licensee of the AirAsia Brand for AAAGL’s aviation related business.

The royalty fee rate amounted to 1% of revenue from AirAsia’s four airlines in Malaysia, Thailand, Indonesia and the Philippines. Similarly, for AirAsia X and Thai AirAsia X, the fee is 0.5% and 1.5%, respectively.

In addition to the AirAsia brand, CAPI holds the intellectual property rights for 14 other renowned brands and over 224 trademarks spanning 23 countries. CAPI's platform integrates brand strategy, creative marketing and intellectual property development to strategically position its brands and cultivate cultural significance among consumers. The company intends to leverage the brand value of AirAsia through further licensing while implementing its successful strategy to propel and expedite the growth of its intellectual property portfolio

Posted by The_JQuestion > 2024-03-03 23:26 | Report Abuse

1% of 4 bil is 40 million.... in one quarter alone :)) .... so the more they sell , the more they get !! wow brilliant , NASDAQ gonna love this gem... sure UNTUNG ???<<< what kind of genius idea , tony to the moon ( more value than Bitcoins )

Posted by The_JQuestion > 2024-03-03 23:28 | Report Abuse

pn17 = peanut for capital A under the captain tony who MOVE the business ... all the great MOVEs... its going to MOVE... Are u ready to MOVE?

Posted by StartOfTheBull > 2024-03-04 06:36 | Report Abuse

Sslee paper loss 2.5c in SCIB but only working very hard in Capital A instead.🤔

Posted by Sslee > 2024-03-04 07:23 | Report Abuse

Stony is just taking away from capA aviation its future earning/bottom line and give it to CAPI.

Do I need to worry about SCIB?
SCIB already turn around and going to get many more project in Sarawak?

By the way a 20,000 unit is my support for i3lurker. I3lurker never recommend any stock before, this is his first recommendation. I will keep that 20,000 units till 01/01/2025 or it reach RM 1.00.

Posted by Sslee > 2024-03-04 07:34 | Report Abuse

Then again Stony also offload a USD 150 million loan from capA aviation to CAPI.

Posted by Sslee > 2024-03-04 09:27 | Report Abuse

Mike-tikus trapped at jaks 19 floor, look like floor 19 already collapse and Mike-tikus blowwater about his jaks 1 sen is 6 digits gain/lose.

Mike-tikus how much your jaks book lose now?

Posted by EatCoconutCanWin > 2024-03-04 11:57 | Report Abuse

Buy in

Posted by Mabel > 2024-03-04 13:01 | Report Abuse

Hit turbulence in 4Q23

Return-to-service maintenance cost caused 4Q23/FY23 results to come in below our expectations but they will normalise going forward. More importantly, fares are rising on reduced competition. Our FY24E/FY25E earnings are little changed on housekeeping (i.e. MYR2m/+MYR2m). We also introduce FY26E estimates. Our SOP-TP is tweaked up to MYR0.94 from MYR0.92. Going forward, we still expect future quarters to generate narrower losses and eventually breakeven.

Posted by Mabel > 2024-03-04 13:01 | Report Abuse

Source : Mabel's Tiger Bank

Meow

Posted by Mabel > 2024-03-04 13:03 | Report Abuse

Value Proposition

Asia’s leading low cost carrier with highest market share,largest fleet size and most extensive route network.

Operates in 4 countries after exiting Japan and India, which provides unrivalled route network reach.

Lowest unit cost airline in the world. Management is very ambitious, cost conscious and forward-thinking.

Growing middle class in Asia fuelling growth in demand for air travel.

Won the coveted ‘World’s Best LCC’ award for a record 14 times in a row by Skytrax

Posted by Mabel > 2024-03-04 13:04 | Report Abuse

BTW are there any Airlines out there that has Won the coveted ‘World’s Best LCC’ award for a record 14 times in a row by Skytrax?

Hihihi...

To Our Success!

Captain Mabel Meow

Posted by Balian de Ibelin > 2024-03-04 13:26 | Report Abuse

Scam
the reviews you find on Skytrax are bought and paid for, you can't trust them at all It's a scam from end to end! This is really something the EU Commission should look into, as this is customer deception!

Date of experience: 07 September 2023

https://uk.trustpilot.com/review/www.airlinequality.com

Posted by The_JQuestion > 2024-03-04 20:54 | Report Abuse

i think this bali de bilis is delusional... he take europe airline before? u know how bad are their service. like this bilin no smile no service ... compare to our MH and aa and Sq ... easily best , now middle eastern are the tops
typical bidin ... everything white MUST be good haha , white propagandist

Posted by Sslee > 2024-03-05 06:58 | Report Abuse

CAPITALA’s FY23 results disappointed as it was unable to push yields higher. Its positive EBITDA was completely erased by depreciation, aircraft leasing charges and finance cost. There is an urgent need for it to firm up on its PN17 regularisation plan. We maintain our FY24F forecasts, TP of RM0.78 and MARKET PERFORM call.

It reported a core net loss of RM450m in FY23, against our full-year net loss forecast of RM33m and the full-year consensus net loss estimate of RM352m. We believe the variance against our forecast came largely from its inability to push yields higher without eroding demand.

Posted by Balian de Ibelin > 2024-03-05 07:00 | Report Abuse

Obviously the Reverse Ryanair Yield Control Curve is not working.

Posted by Balian de Ibelin > 2024-03-05 07:43 | Report Abuse

thats why he is called Mike🐖, a real 🐽, slaughtered for bacon. 😋

Mike🐖 purposely intentionally with mens rea to cheat scam con defraud steal rob burglarize forcefully and criminally excluded another RM7.028 Billion engine repair bills mandated by contract as an integral structure, payable, equal ranking and essentially also leasing charges.

also the sales in advance of RM2 Billion

Posted by Balian de Ibelin > 2024-03-05 07:52 | Report Abuse

You can never ever understand the crooked deviant dark damaged dead end road criminal mind of Mike🐖.

What can he hope to achieve by criminally excluding RM 9 Billion in attempted swindle of Suiyee Sucker Billis?

Posted by Sslee > 2024-03-05 07:52 | Report Abuse

If the deal go thro' value capI at USD 10 and more likely than not on the first day of capI trading Stony and gangs will sell their capI holding to take profit.

Specifically, the deal entails CAPI to merge with GMFI and takes over the latter’s listing status, CAPITALA will receive 94% of the enlarged share capital in the merged entity or CAPI at a value of USD1b. Of the 94%, CAPITALA plans to distribute a 47.9% stake in the merged entity to shareholders. After the proposal, CAPITALA and CAPITALA shareholders will hold 46.1% and 47.9% stake in CAPI, respectively. The remaining 6% will be held by existing Aetherium shareholders. Brand AA will take on a USD150m term loan currently held by CAPITALA’s unit, Asia Aviation Capital Ltd (Labuan).

Posted by The_JQuestion > 2024-03-05 19:35 | Report Abuse

sslee when u selling the 1000 lots u bought , once u buy anything become heavy
i know u have the capable to buy more lots than tony... go for it , maybe u can finally sit on the board *aherm*

Posted by Income > 2024-03-06 23:59 | Report Abuse

Chinese leadership does what is best for China and the Chinese people.
US leadership does what their donors want.

Posted by EatCoconutCanWin > 2024-03-07 17:34 | Report Abuse

Don't sell la. Buy call now

Posted by DickyMe > 2024-03-08 17:39 | Report Abuse

Coming three months, headwind in all spheres of life.
CapitalA have to fight for survival.

Posted by Mabel > 2024-03-09 14:16 | Report Abuse

https://www.astroawani.com/berita-malaysia/juruterbang-batik-air-tertidur-di-tengah-penerbangan-461560

Don't worry Mabel always feel safe and secured flying Mabel Airlines (Capital A, Singapore Airlines and Scoots Airlines)..

Captain Mabel Meow

Posted by EngineeringProfit > 2024-03-09 15:08 | Report Abuse

TP 0.78 kah?