Posted by Michael Kwok > 2023-10-19 17:09 | Report Abuse

The news.bad news for aax.
19/10/23 5.08pm
KUALA LUMPUR (Oct 19): Shares in AirAsia X Bhd (AAX) slumped after noon break on Thursday as Bursa Securities rejected the medium-haul low-cost carrier’s application for a relief from having to submit and implement a regularisation plan for its Practice Note 17 (PN17) status, as well as the upliftment from the status under the Main Market Listing Requirements.

Notably, AAX shares took a nosedive and hit an intraday low of RM1.85.

At the time of writing, the stock then rebounded to trade 10 sen or 4.44% lower at RM2.15, giving the group a market capitalisation of RM961.21 million. The counter also saw 15.87 million shares change hands.

In a bourse filing on Thursday, AAX said Bursa Securities had, vide its letter dated Oct 18, 2023, rejected the airline’s application for the proposed relief and PN17 upliftment that the group had applied for on July 20.

Bursa, however, has granted AAX an extension of time until Jan 17 next year to submit its regularisation plan to the regulatory authorities. Its latest extension is due to expire on Oct 28. AAX had been granted an extension to submit its regularisation plan on two occasions, first for six months till April 28, and then for a further three months till July 28 this year.

"In this regard, the airline will consider all available options (including the possibility of an appeal) and announce the next course of action to be undertaken in due course," said AAX.

Meanwhile, its sister company Capital A Bhd also felt the pinch as its shares traded lower after noon break on Thursday.

At the time of writing, Capital A shares were three sen or 3.23% lower at 90 sen, valuing the company at RM3.81 billion. It saw 28.96 million shares change hands.

Both Capital A and AAX share common shareholders — Capital A co-founders Tan Sri Tony Fernandes and Datuk Kamarudin Meranun.

The top shareholders of AAX are Kamarudin, who holds an 8.94% direct stake, and Fernandes, who holds a 2.69% direct stake, as well as an indirect stake of 31.59% through Tune Group Sdn Bhd (17.83%) and AirAsia Bhd (13.76%).

Both Kamarudin and Fernandes also hold an indirect stake of 24.61% in Capital A through Tune Live Sdn Bhd (12.23%) and Tune Air Sdn Bhd (12.4%). Capital A wholly owns AirAsia

Posted by NatsukoMishima > 2023-10-19 17:37 | Report Abuse

Run loh ,anytime become myairlines ,serb 2.0

Posted by purple70 > 2023-10-19 18:48 | Report Abuse

The practice of BURSA issuing letter dated 18th Oct and for AAX Co Sec/BOD to release the letter at mid market day is wrong!
It doesnt give market players enough time to digets the info before trading commenced. This is BOTH BURSA n AAX's mistake and they both should be hauled up!

Why cant BURSA announce by itself as after all, it is a matter of public interest for timely dissemination. Looks like many had access to inside info the main reason the slide in shares of AAX happened yesterday noon itself!

Is SC gonna investigate this anamoly?

Posted by The_JQuestion > 2023-10-19 19:11 | Report Abuse

auchhhh bursa why like this others can , I cannot.. need to debt restruc again KAH? wayang first itu panggil , collect here !

Posted by Ryugentrades > 2023-10-19 19:58 | Report Abuse

Airlines is risky stock now. High risk high return, true for the reverse. Look at American Airlines chart, and you will see some major roller coaster ride action. It’s brutal

Posted by Ryugentrades > 2023-10-19 19:58 | Report Abuse

Monitor for rebound, aax will rocket up again, but that is for another day. Not so soon

Posted by FAInvestor > 2023-10-19 21:26 | Report Abuse

American Airlines posts third-quarter loss and trims 2023 profit forecast

https://www.cnbc.com/2023/10/19/american-airlines-aal-earnings-q3-2023.html?__source=androidappshare

Posted by SinGor > 2023-10-19 21:38 | Report Abuse

Let see how strong Bankers & Co support tomolo. A wobbling legs supporters are facing next round of
short selling tomolo----Any plunge below RM2 will see Margin selling on Monday

Posted by pang72 > 2023-10-19 22:24 | Report Abuse

1.85 is your next reference

Posted by Eagle77 > 2023-10-19 22:36 | Report Abuse

TP : 1.60

Posted by Income > 2023-10-20 07:55 | Report Abuse

Panlai. Remember don’t blindly follow Sifu.

Posted by Income > 2023-10-20 07:57 | Report Abuse

Sifu asked you to buy, then you buy.
Sifu don’t tell you first to sell because sifu needs to sell first.
Don’t blindly follow Sifu. Or else you becoming Seafood for the sharks?

Posted by 8dragon > 2023-10-20 08:15 | Report Abuse

Today LD.....

Posted by AztDynt99 > 2023-10-20 08:21 | Report Abuse

Near 17 Jan, they will request another extension to submit, since 3 months may not be sufficient .... another YO YO game...actual the plan is ready, the insider just want to play more game to make some money....

Posted by SinGor > 2023-10-20 08:34 | Report Abuse

Most likely another 3 extensions ( 9 months ) like Cap-Ayam

Posted by rr88 > 2023-10-20 08:50 | Report Abuse

UPTREND LINE BROKEN.
1st target 1.61
2nd target 1.20

Posted by kahfui1221 > 2023-10-20 09:09 | Report Abuse

Got operators come and support one, won't LD

Posted by ks5S > 2023-10-20 09:28 | Report Abuse

buy. don't miss the chance

Posted by rr88 > 2023-10-20 10:29 | Report Abuse

Yesterday operator pushed for speculative rebound play bcause sentiment was good.

Today operator came to office n saw sentiment shifted abruptly.

So operator trade to exit yesterday remaining positions. In other words it is an OCTU (Operation Con to Unload). You go in you kena con. Stay away.

If you bought yesterday above current price, you need to cut loss. Bcause once operator finish unloading, nobody will be there to support price from falling.

Posted by Sarcasm777 > 2023-10-20 10:33 | Report Abuse

I3lurker, thanks for letting the world know what’s really in your heart. Day in and out you keep bashing them with ur facts, links and fincancial analysis. Deep down, you just wanted them to fold. The fact is, your era is over, your time is up. Don’t be an as*.

Posted by purple70 > 2023-10-20 10:36 | Report Abuse

Bursa Securities rejected the medium-haul low-cost carrier’s application for a relief from having to submit and implement a regularisation plan for its Practice Note 17 (PN17) status, as well as the upliftment from the status under the Main Market Listing Requirements"

Only Ferndes would ever try to be smart vs authorities as he has many friends in cabinet n higher power!

WHy would he be given relief when the favored SERBADIK BUMI Co ( which has no basis to ask) was denied!

Dont be too smart SIR TAN SRI RT HON TF!

Posted by StartOfTheBull > 2023-10-20 10:37 | Report Abuse

Who is this i3Licker?


i3lurker

13,017 posts

Posted by i3lurker > 13 minutes ago | Report Abuse

no worries
we can force stony to sell CapA to AAX so that both go bankrupt together.

Cheers!!!

Posted by stncws > 2023-10-20 10:52 | Report Abuse

now everyonr is MOVE......corporate exercise is confirmed.

Posted by Eagle77 > 2023-10-20 11:07 | Report Abuse

Buy gold stocks NICE is a cheap gold company 👍👍👍

Posted by Eagle77 > 2023-10-20 11:08 | Report Abuse

Israel President Netanyahu said the there’s a long war between Israel and Hamas 🩸🩸🩸💥💥💥

Posted by purple70 > 2023-10-20 11:31 | Report Abuse

i3lurker

Likely AAX failed the Solvency Test so refused to apply for Plan.

Apply for Plan means signing a Solvency Test which is a jail term item for Directors.
Let AAX go bankrupt no jail term.

______________________________________________

Ferndes believes that his Co is making profits and he is too cocky not wanting to commit such..Ya, jail term comes to him whichever way, he will find himself in it sooner than thougt!

Posted by rr88 > 2023-10-20 11:34 | Report Abuse

1.85 rebounded to 2.09.
Otw to break 1.85 n will go to:
1.85 - (2.09 - 1.85) = 1.61
Nothing personal, its technicals.
Technicals are magical.
However skeptical you are, it will happen.

Posted by EatCoconutCanWin > 2023-10-20 11:40 | Report Abuse

1.61 queuing..thx rr88

Posted by rr88 > 2023-10-20 11:46 | Report Abuse

You connect the low points since dec last year you would get an uptrend line.
This line was broken yesterday. It will do a downtrend from now on.

Posted by rr88 > 2023-10-20 11:52 | Report Abuse

Coconut, 1.61 not today. More like 4 to 6 trading days from now. You want to queue, make a 1 month standing instruction order at 1.62. Sell on rebound. Good luck.

Posted by The_JQuestion > 2023-10-20 12:09 | Report Abuse

hehehe ilook3r only come talk when red together with his backside friend loser 88 ,, typical :)) the stocks they buy nvr up so they too free to linger around for months years forever :))

Posted by StartOfTheBull > 2023-10-20 12:16 | Report Abuse

You are absolutely right. 😊

Posted by pang72 > 2023-10-20 12:25 | Report Abuse

1.61 is heart pain price!

Posted by pang72 > 2023-10-20 12:27 | Report Abuse

I don't want to catch because TF is showing naked in public..

I don't wish to lose till naked like him!!

Posted by StartOfTheBull > 2023-10-20 12:35 | Report Abuse

No need to catch, just watch those jokers lingering here is enough to entertain you for the rest of the day. LOL

Posted by NatsukoMishima > 2023-10-20 12:46 | Report Abuse

Why all the debts suddenly missing from financial report , anyone can explain ? Or any trick inside ?

Posted by NatsukoMishima > 2023-10-20 12:46 | Report Abuse

Stay away right now , anytime will tumble to 50 sens !

Posted by NatsukoMishima > 2023-10-20 12:47 | Report Abuse

Myairline always in my mind !

Posted by purple70 > 2023-10-20 13:23 | Report Abuse

Just cos BURSA rejected the medium-haul low-cost carrier’s application for a relief from having to submit and implement a regularisation plan", doesnt mean that its the end for AAX.

It will just be delisted which makes the job for TF easier. As uan unlisted entity w thousnds of shareholders, he has greater flexibity to manouver his own way...Dont think that thos einsurance, pension n PNB AMANAH SAHAM funds would be happy with the position which in turn could force both parties to think again n keep listed!

MADANON govt wont n dont need such an issue esp going end of the year TELOQ,AYAK,GULA,MINYAK MACAM, MINYAK KERETA ETC will all be floated!

Unless, there is another explanation...LIFE just has been too cruising for Malaysians and dont think anyone would be bothered to rattle the ship w so many holes!

Posted by ks5S > 2023-10-20 13:38 | Report Abuse

dont simply sell. Later got good news and limit up, you will regret.
Game is not over yet.

Posted by EngineeringProfit > 2023-10-20 13:42 | Report Abuse

Can always buy back later. Falling knife now

Posted by FAInvestor > 2023-10-20 13:54 | Report Abuse

High oil price is bad news for airlines. Airlines will be making losses globally.

Posted by FAInvestor > 2023-10-20 13:55 | Report Abuse

Don't catch the falling knife

Posted by tonyluis309 > 2023-10-20 14:21 | Report Abuse

This broker is a scam!! Please guys avoid them. I was only a victim to them because I believe it will be the best for me but am unable to withdraw from them and they keep on asking for more deposit. Am so glad Mrs. HARPER was able to help in getting my funds from Them. God bless you MADAM, But if you wish to get in touch with HER I will be glad to share his info Email:
HARPERJAMESPLATFORM   G MAIL COM

Posted by STIDVC > 2023-10-20 14:23 | Report Abuse

knn i3 also got cb bot

Posted by ks5S > 2023-10-20 14:29 | Report Abuse

i have catch many falling parang in aax. But it still make me untung a lot every time recover. I never fall trap on those sour grape.

Posted by Yezzy99108 > 2023-10-20 14:55 | Report Abuse

collect more

Posted by ks5S > 2023-10-20 15:01 | Report Abuse

no need to scared one.
this company zero debt
no way bursa won't give green light end of the day.
bursa only wayang only to show they are working.

Posted by ks5S > 2023-10-20 15:03 | Report Abuse

next quarter result very good.
thai aax contribute earning.

Posted by SinGor > 2023-10-20 16:01 | Report Abuse

relief PN17 upliftment. AAX said the local bourse has granted the company an extension of time until Jan 17, 2024 to submit its regularisation plan to the regulatory authorities. “In this regard, the company will consider all available options (including the possibility of an appeal) and announce the next course of action to be undertaken in due course.” (StarBiz)
___________________________________________

Strange, very strange......AAX will try ALL options EXCEPT to submit a regularisation Plan. Why??
Regularisation is a Plan detailing How aax will survive / on-going for next 5 years-----AAX will kaput in coming
5 years that prompted Tony Not to submit a regularisation Plan ?????????????