any1 saw how much Cap A used in Q1, it has used about MYR900mil and only left with RM300mil, next round of funding will come very soon. pity all the money funded via various way such as right issue, private placement, sabah state loan, others. All of it jz gone/burned like that.
any idea what the channel of next fund raising exercise?
Tony Fernandes’s Capital A Group is planning New York listings for its low-cost AirAsia airline and a digital super app, the Financial Times reported on Sunday.
“If you want to be an actor, you’re probably going to want to end up in Hollywood at some stage in your career,” Fernandes told the Financial Times.
“We think the time is right for part of Capital A Group to be listed in the US,” he was quoted as saying.
He said the group had begun compliance work and envisaged two separate listings, one for AirAsia “sometime next year”, followed by the so-called super app, which will offer services from travel to takeaways.
The company, which previously considered merging its digital businesses with a special purpose acquisition company (SPAC), dipped into the red during the pandemic, prompting audit firm EY in July 2020 to question its ability to survive. Fernandes said that issue had now been resolved.
Capital A, previously known as AirAsia Group, has been aggressively building its digital businesses and super app over the last two years as most of its planes were grounded due to travel restrictions to contain the COVID-19 pandemic. The group has hoped to build its super app, modeling regional tech giants such as Grab’s and Gojek’s super apps which offer a variety of services including ride-hailing, food delivery, and payment services.
Capital A remains under Practice Note 17 (PN17) on the Malaysian stock exchange — a listing for groups in financial distress. Fernandes, who is Capital A’s Chief Executive Officer, insisted that was a solvable “accounting” issue, which “doesn’t reflect the fundamentals of the company”, he told Financial Times.
He said 85 of AirAsia’s 212 aircraft were now flying, with 80 to 90 percent load factors, and 176 aircraft back in the skies by December. “I think in the third and fourth quarter, we would be EBITDA-positive, including leasing, and so . . . I’m quite confident of 2023 being profitable and definitely cash flow positive,” he was quoted as saying.
Capital A’s first-quarter losses widened to MYR903.79 million ($204.67 million) from MYR767.42 million a year ago. Revenue jumped 152.78 percent year-on-year to MYR811.78 million.
Commenting on the listing plans, Fernandes cited his success in transforming from Warner Music executive to budget aviation pioneer after buying AirAsia from the Malaysian government in 2001 for less than $1, would eventually sway investors.
“Twenty years ago, when I started this airline, no investor wanted to invest in us. It wasn’t a very convincing story to say you’re going to start up an airline when you’re from the music business, with no money, and go up against Malaysia Airlines, Singapore Airlines and the like,” he was quoted as saying.
“Twenty years later, I now say I’m going to take on these digital unicorns. Probably not a convincing story either from an airline that’s struggling, going through Covid, has a weak balance sheet, etc. But it’s slowly coming,” he told Financial Times.
The airasia super app was valued at around $1 billion in July last year in a deal where the digital arm of AirAsia Group will acquire Gojek’s operations in Thailand for $50 million. The purchase considerations for the proposed acquisitions will be wholly satisfied by the issue of new shares in the airasia super app. Gojek will own 4.76 percent in airasia super app after the acquisition, the companies announced then.
On Monday, Capital A shares were trading at MYR0.635 at the time of writing, giving the group a market capitalization of MYR2.642 billion ($598.26 million) .
@RWG, do buy a lot of shares in this company?? your paper loss is 200k. as for me i bought 4000 shares only in this company. just wondering will it come out from PN17? Just keen to know how much is your entry price? mind to share?
@bullmarket1628, any confidence it will not drop below 0.58? you said up to the moon, it is as if this counter can shoot up very fast and high? do you think any chance to come out from PN17? @RWG lost Rm200k in the form of paper loss - he should have bought a lot..
airasia Super App has announced a brand new feature, the airasia pocket, which the company said is a closed-loop e-wallet that enables users to reload and make payments for products and services on the app
In a statement, the company said this will enable airasia pocket users to earn airasia points upon activation, apart from enjoying an extra 10% off all AirAsia flight bookings and 10x airasia points with every airasia food order on weekends.
It said users can also book airasia rides and experience a smooth, seamless journey both in-app and on the road with its Super App’s closed-loop e-wallet, airasia pocket
airasia pocket is currently available to all airasia Super App users in Malaysia in the ringgit currency. It is easily accessible through the super app by setting up an airasia pocket account with a few simple steps, the company said.
Two types of airasia pocket accounts are available - the Lite and Pro.
The Lite account is recommended for everyday use with a wallet size limit of US$113 (RM500), while the Pro account is designed for higher value transactions with a wallet size of up to US$1,135 (RM4,999).
According to airasia Super App, its airasia pocket’s features are developed by Fass Payment Solutions Sdn Bhd (Fasspay), a leading white-label e-wallet player and an approved e-money provider by Bank Negara Malaysia.
This platform is designed to allow its partners to build and innovate on Fasspay’s full-stack payments platform and offer various payment and financial services to their customers, the company said.
Mohamad Hafidz Mohd Fadzil, airasia Super App's chief fintech officer, said as fintech and neobanks continue to reshape the financial landscape in Malaysia and across ASEAN, airasia Super App is continuing to be an industry disruptor and is expand its fintech services which enables app users to make faster payment for products and services within the Super App ecosystem.
“This includes payments for flights and hotel bookings, as well as on airasia food, airasia grocer, airasia xpress, or when booking a ride through airasia ride.
“By working with our partner Fasspay, users can have peace of mind as this new feature is completely secure, fully compliant, and licensed by Bank Negara Malaysia," he added.
Amanda Woo, chief executive officer (CEO) of airasia Super App, said, “This is the final step in closing the loop for the whole airasia ecosystem, which will draw out the true superpower of the airasia Super App.”
“airasia pocket is now a more accessible, faster, and rewarding way to pay for anything within the airasia ecosystem and will facilitate better user experiences.
“Having airasia pocket also provides more significant insights into customer behaviour which will assist us in giving better value and more quality services to all our app users,” Amanda said.
Fasspay CEO Chris Leong said the organisation is honoured to be a partner in airasia Super App’s fintech journey and will continue to support its aspiration to grow regionally and globally.
“Fasspay’s mission is to enable our partners, such as airasia Super App, to realise their vision by using this wallet-as-a-service to extend their financial services. This partnership is just the beginning for Fasspay as our ultimate aim is to avail this full-stack payments platform to other customers both small and large globally,” he said.
Currently, top-ups for airasia pocket are available via Online Banking (FPX), with more options to be added in the future.
"Posted by LongTermInvestor8 > 1 week ago | Report Abuse
many people buy shares thinking it will go back to their previous high. if buying shares is so easy, where got poor people already? look at parkson, ytl, berjaya, maxis.... alll down down and down" =========================
The problem is politic and policies. All companies are not at liberty to function at will. There are unemployable laidbacks forced to be on payroll via quota system, trojans in the administration, parasites in the boardroom and leeching regulators.
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....