Posted by Sslee > 2023-08-08 18:55 | Report Abuse

BANGKOK, 19 May, 2022 – Thai AirAsia X (XJ), the low fare long haul carrier, has begun preparations to initiate a rehabilitation process after its submission on 17 May,2022 was accepted by the Thai Central Bankruptcy Court on 18 May, 2022. The objective is to revamp the company’s administration process and restructure its debts, delivering greater efficiency and a solid platform for robust future growth after weathering the COVID-19 pandemic. The process will have no impact on passengers as operations will continue as usual and Thai AirAsia X prepares to reintroduce flights to South Korea and Japan from June 2022 onwards.

A 49% associate of AAX, TAAX is under bankruptcy protection or in other word AAX is still under PN17 on the below clause:

(f) a default in payment by a listed issuer, its major subsidiary or major associated company, as the case may be, as announced by a listed issuer pursuant to paragraph 9.19A of the Listing Requirements and the listed issuer is unable to provide a solvency declaration to the Exchange

Posted by 7chewe > 2023-08-08 19:02 | Report Abuse

Maybank IB Research said efforts to uplift its PN17 classification are ongoing and more importantly, have not received any negative feedback.

It said that AAX qualifies to have its PN17 classification lifted as its shareholders’ equity is already more than RM40mil and it has generated three consecutive quarters of profits. AAX hopes to receive a reply by month end on the matter.

The research house added that TAAX has executed its debt restructuring and is awaiting court sanctions. Post-court sanctions (likely in 4Q23), AAX will account for its share of TAAX’s profits.

If AAX recognised 49% of TAAX’s 1Q23 core net profit, its 1Q23 core net profit would have surged by 74%.

On its planned acquisition of Capital A Bhd’s four short-haul airlines, AAX stated that has not been finalised though it is in a strong negotiating position.

Posted by i3lurker > 2023-08-08 19:26 |

Post removed.Why?

Posted by KingKKK > 2023-08-09 09:15 | Report Abuse

American ultra-low-cost airline Allegiant Reports Its Highest Quarterly Operating Revenue Ever

Allegiant Air posted a stunning profit of $88.5 million for Q2, thanks to robust leisure demand and network expansions.

Operating profits increased by 411.1%, and revenues substantially increased to $683.8 million, the highest in the airline's history.

The airline remains focused on labor contracts and solidifying operations, with new routes added and the arrival of its first Boeing 737 MAX expected later this year.

https://simpleflying.com/allegiant-highest-quarterly-operating-revenue-ever/

Posted by joyvest > 2023-08-09 09:22 | Report Abuse

Maybank report is misleading.

Though it looks and sounds like the application for upliftment is under consideration by SC, it is not the actual fact. The recent approval for time extension of submission of RP can be conferred as a confirmation of the stand of SC and the intention of SC not to approve the application for upliftment.

Posted by investorbat > 2023-08-09 09:59 | Report Abuse

Dont say maybank is misleading,u might get sue by maybank.I checked through bursa ,there is no approval for time extension yet as u said.Both applications still pending,correct me if im wrong

Posted by investorbat > 2023-08-09 10:02 | Report Abuse

They will announce either upliftment no RP or no upliftment RP

Posted by teknikal > 2023-08-09 10:19 | Report Abuse

joyvest is overconfident and thinks that he is better than Maybank.

the fact is no announcement yet, so you cannot say uplifted and also cannot say no upliftment.

Posted by TheGardener > 2023-08-09 10:21 | Report Abuse

Warning! Please sell all the way!

Posted by joyvest > 2023-08-09 10:23 | Report Abuse

It is not a matter of over confidence. It is a matter of sense . Maybank certainly has an agenda. My 2 cent tells me it is a bad one.

Posted by joyvest > 2023-08-09 10:25 | Report Abuse

You dont have to wait for announcement from SC, it is already insinuated from their reaction.

Posted by joyvest > 2023-08-09 10:29 | Report Abuse

Just because it is a bank, you just take whatever they say as " absolutely correct". However , i live with an open mind and i have my reservation.

Posted by joyvest > 2023-08-09 10:32 | Report Abuse

Both AAX and Cap A are inter-related companies and are inseparable in the view of SC. Upliftment of both or none .

Posted by joyvest > 2023-08-09 10:34 | Report Abuse

Both AAX and Cap A are inter-related companies and are inseparable in the view of SC. Upliftment of both or none . There is no such thing as one is uplifted while the other one is not. Together or none.... it is as simple as that.

Posted by GoldenBull66 > 2023-08-09 10:48 | Report Abuse

What more misleading than yourself @joyvest. Since when SC granted AAX extension till 28/10/2023? Self imagination?

AAX already done their RP. Debt restructuring, capital reduction, shaving billions off. 3 consecutive QR profits and positive NTA. The upliftment decision would likely come right after this QR result. A positive QR would strengthen the NTA. While a loss (which airlines is making losses now) to send the shares plunging and PN17 in risk. That simple.

No such thing as lift 1 and don't lift 1? Do you eat and poop at the same time? It's seems related too. But it doesn't..

Posted by moneycashrich > 2023-08-09 10:54 | Report Abuse

Good for and against upliftment....keep it on. why worry about uplift everyday ?

Posted by joyvest > 2023-08-09 10:57 | Report Abuse

Was the previous deadline not on 28/7/2023? Did AAX not apply for another time extension before 28/7/2023?

Do you think AAX could continue to trade without obtaining another approval for time extension for submission on and before28/10/23. Are you dreaming or what ?

Posted by GoldenBull66 > 2023-08-09 11:03 | Report Abuse

What a joke. They have replied to SC. And it's down to SC to make decision. So why SC would stop AAX from trading while they are making decision? If SC reject, then SC would set a date for AAX to submit or face delisting. You don't suddenly stop a share from trading.

Posted by moneycashrich > 2023-08-09 11:12 | Report Abuse

Good for and against.....excellent

Posted by joyvest > 2023-08-09 11:16 | Report Abuse

QR is not the keypoint. RP is the key point , Upliftment is done after submission of RP , not QR. No matter how good the OR is, without RP, no upliftment .Your mention of the upliftment decision would likely come right after this QR result is incorrect. Your description of " you eat and poop at the same time " is out of context as far as the related transactions in the companies is concerned .
----------------------------------------
GoldenBull66

What more misleading than yourself @joyvest. Since when SC granted AAX extension till 28/10/2023? Self imagination?

AAX already done their RP. Debt restructuring, capital reduction, shaving billions off. 3 consecutive QR profits and positive NTA. The upliftment decision would likely come right after this QR result. A positive QR would strengthen the NTA. While a loss (which airlines is making losses now) to send the shares plunging and PN17 in risk. That simple.

No such thing as lift 1 and don't lift 1? Do you eat and poop at the same time? It's seems related too. But it doesn't..

Posted by 7chewe > 2023-08-09 11:16 | Report Abuse

Tourism recovery Supply and demand balance Aviation sector rating upgrade
Sinchew Wed, Aug 09, 2023 09:45am - 1 hour


KUALA LUMPUR (Jan 8) – Analysts are optimistic about the prospects of Malaysia's aviation sector due to consumers' interest in travel, only a slight increase in travel package prices, and a balance between supply and demand in the aviation sector, upgrading the "underweight" rating to "neutral".
https://www.sinchew.com.my/20230809/%E6%97%85%E6%B8%B8%E5%A4%8D%E8%8B%8F-%E4%BE%9B%E6%B1%82%E5%B9%B3%E8%A1%A1-%E8%88%AA%E7%A9%BA%E9%A2%86%E5%9F%9F%E8%AF%84%E7%BA%A7%E4%B8%8A%E8%B0%83/

Posted by joyvest > 2023-08-09 11:20 | Report Abuse

Deadline is deadline. If you can not submit before the deadline, then you apply for another deadline subject to approval . AAX has been granted with another deadline for submission on and before 28/10/23.

SC is very strict in monitoring all the listed companies. It is not up to the companies to dictate the terms as they wish

Posted by joyvest > 2023-08-09 11:22 | Report Abuse

There are many counters who do not submit the QR in time after being granted with the deadline, eventually they are suspended by SC. you cannot trade your shares in the stock market.

Posted by investorbat > 2023-08-09 11:22 | Report Abuse

Capital A dead line was 7july2023,they apply extension on 30jun2023 for extension 3 months to 7 october.Bursa granted them on 27 july,that is 20days past the 7july deadline.You must make every announcement public.

Posted by mf > 2023-08-09 11:24 | Report Abuse

qr coming

Posted by joyvest > 2023-08-09 11:25 | Report Abuse

SC can stop any counter from trading in the stock market by suspension if you dont abide by the rules and regulations which are set to safeguard investors like you and me. Dont you want to be safeguarded ??

Posted by joyvest > 2023-08-09 11:27 | Report Abuse

Deadlines for both have been made uniformed ie both are required to submit RP on and before 28/10/23

Posted by investorbat > 2023-08-09 11:29 | Report Abuse

AAX has not been granted extension,bursa must make public announcement for any decision made!They granted Capital A extension 20 days past deadline

Posted by investorbat > 2023-08-09 11:32 | Report Abuse

Which announcement said Capital A extension to 28/10/23?Link please!

Posted by joyvest > 2023-08-09 11:33 | Report Abuse

Response by SC was within 21 days. Maybe SC is required to reply within 21 days by the SC rules. I am not too sure about that.
---------------------------------
investorbat

Capital A dead line was 7july2023,they apply extension on 30jun2023 for extension 3 months to 7 october.Bursa granted them on 27 july,that is 20days past the 7july deadline.You must make every announcement public

Posted by joyvest > 2023-08-09 11:35 | Report Abuse

You check it out yourself for the announcement.

Posted by GoldenBull66 > 2023-08-09 11:35 | Report Abuse

1stly, go read why AAX trigger the PN17. And does they still trigger PN17..then you probably get the answer. If debt restructuring and capital reduction is not call RP, then what is that? The word both.. doesn't apply to SC. Announcement made separately to both entity. You don't see SC making announcement on Capital A on AAX. You probably got confused since you were born. Both must lift together and die together..😂😂😂😂. Titanic?

Posted by joyvest > 2023-08-09 11:36 | Report Abuse

Every body knows the new deadline except you

Posted by investorbat > 2023-08-09 11:36 | Report Abuse

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3373677

Posted by joyvest > 2023-08-09 11:39 | Report Abuse

QR is QR and RP is RP . No RP , no upliftment . it is as simple as that.
So far only QR has been submitted in time but not RP
Not RP, No upliftment

Posted by joyvest > 2023-08-09 11:41 | Report Abuse

What cant you read the announcement with great care again and again? I cant teach you how to read , can i?

Posted by joyvest > 2023-08-09 11:44 | Report Abuse

*QR is QR and RP is RP . No RP , no upliftment . it is as simple as that.
*So far only QR has been submitted in time but not RP
*Not RP, No upliftment
*RP of AAX is expected by SC to detail how Cap A is salvaged otherwise, it is back to square one.

Posted by GoldenBull66 > 2023-08-09 11:51 | Report Abuse

Please read AAX announcement carefully before spilling your nonsense around.

Posted by GoldenBull66 > 2023-08-09 11:53 | Report Abuse

Pending the decision from Bursa Securities on the application for the Proposed Relief & PN17 Upliftment, the Company had also vide the same application, applied to Bursa Securities for a further extension of time of three (3) months from 29 July 2023 to 28 October 2023 for the Company to submit a regularisation plan to the regulatory authorities in the event it does not receive Bursa Securities’ approval for the Proposed Relief & PN17 Upliftment.



As of 2 August 2023, Bursa Securities’ decision on the application for the Proposed Relief & PN17 Upliftment is pending. The Company shall make the necessary announcement(s) with regard to any material development thereof accordingly.



This announcement is dated 2 August 2023.

Posted by joyvest > 2023-08-09 11:56 | Report Abuse

*The RP is still being reconstructed , is it not?
* To put in another way , RP is not ready yet.
* How on earth do you expect the SC to uplift where the RP is not even reached to the hand of SC ?

Posted by GoldenBull66 > 2023-08-09 11:56 | Report Abuse

I don't really mind how people comment whether this stock is going up or down. I love it in fact as we learn more about the share. As long as they sharing facts. But the nonsense that you're spamming here shows you just having mental issue.

Posted by GoldenBull66 > 2023-08-09 11:59 | Report Abuse

Go ask Maybank and Aminvestment bank why then. Aminvestment incharged of AAX RP and Maybank initiate the buy call. TP rm3.58.



How on earth do you expect the SC to uplift where the RP is not even reached to the hand of SC ?

Posted by joyvest > 2023-08-09 12:01 | Report Abuse

Read it with utmost care.
Two applications.
1st application for relief and upliftment
2nd application for time extension
Did AAX announce that both applications are pending? not right ?
Meaning 2nd application has been approved

Posted by joyvest > 2023-08-09 12:02 | Report Abuse

Nevermind , you go back to continue your hibernation with sweet dreams .....

Posted by joyvest > 2023-08-09 12:06 | Report Abuse

You fail to read the implied term.

Posted by joyvest > 2023-08-09 12:07 | Report Abuse

TP 3.58 is just a propaganda and agenda.....

Posted by stncws > 2023-08-09 12:08 | Report Abuse

not a good sign, keep on extending..but if good sales...no problem

Posted by joyvest > 2023-08-09 12:11 | Report Abuse

Why you omitted the following in your post on purpose ? you got an agenda ?

----------------------------------------------
Pursuant to paragraph 4.1(c) of PN17 of the Main LR, the Board of Directors of the Company wishes to announce that the Company and the appointed advisers are in the midst of formulating a regularisation plan to address its financial condition.

Posted by joyvest > 2023-08-09 12:12 | Report Abuse

It is clear that the RP is not ready ......

Posted by GoldenBull66 > 2023-08-09 12:15 | Report Abuse

Please explain to all of us the below announcement. My English no good. I'm not sure what agenda is there. To me, RP is already done. AAX no longer trigger . And FYI, SC no announced the approval for AAX extension or PN17 upliftment. If yes, please show us. SC hasn't replied to AAX on both applications. That simple.

Pursuant to paragraph 4.1(c) of PN17 of the Main LR, the Board of Directors of the Company wishes to announce that the Company and the appointed advisers are in the midst of formulating a regularisation plan to address its financial condition.