COUNTRY HEIGHTS HOLDINGS BHD
KLSE (MYR): CHHB (5738)
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KUALA LUMPUR (Dec 28): Kenanga Research is projecting tourist arrivals in the country to jump four-fold to 9.6 million in 2023 from an estimated 2.5 million a year ago on the back of the reopening of international borders.
It said the increase would be driven by the return of both business and leisure air travel globally, the revocation of all on-arrival quarantine and testing requirements in Malaysia and the eventual gradual reopening of China which historically accounts for an estimated 12% of the total tourist arrivals in Malaysia.
These factors would support growth in the passenger throughput of Malaysia Airports Holdings Bhd (MAHB) and the passenger demand of Capital A Bhd (Capital A), it said.
“We project MAHB’s system-wide passenger throughput to rise 29% and 15% to 101 million and 116 million in 2023 and 2024, respectively, but it is still a long way from matching the pre-pandemic level of 141 million recorded in 2019.
“Similarly, we project Capital A’s system-wide revenue passenger kilometres (RPK) to grow by 52% to 35 billion in 2023, but this still falls short of the pre-pandemic RPK level of 63 billion in 2019," Kenanga Research said in its Sector Update note today, where it reiterated its 'neutral' call on the aviation sector,
Meanwhile, it noted that MAHB’s much-needed tariff hike does not appear to be forthcoming, while a regularisation plan is underway to lift Capital A out of its Practice Note 17 (PN17) status.
“Despite the rising demand, we expect Capital A to remain in the red over the short term as economies of scale are still lacking in its airline operations while its digital business has a long gestation period.
“The group plans to divest its aviation group to AirAsia X in exchange for shares which will subsequently be distributed back to its shareholders,” it said, adding that the details of the regularisation plan are expected to be announced by end-January or early February 2023, with completion by July 2023.
2 months ago
flooding chhb's hotels and resorts soon
Chinese demand for travel jumps as Beijing opens the floodgates
Selina Xu
/
Bloomberg
December 28, 2022 13:17 pm +08
-A+A
(Dec 28): A surge in holiday bookings shows China’s vast population is ready and hungry for travel as the country dismantles border controls and emerges from nearly three years of self-imposed isolation.
After the announcement that travelers won’t be subject to quarantine from Jan. 8 onwards, bookings for outbound flights from mainland China jumped 254% Tuesday morning from the day before, according to Trip.com Group Ltd. data.
The top five destinations were Singapore, with a 600% increase in bookings, followed by about 400% for South Korea, Hong Kong, Japan and Thailand.
China’s Covid Zero policy effectively stopped overseas leisure trips throughout the pandemic, with people urged to stay in the country “unless absolutely necessary” for work, study or compassionate reasons. Travel visas to Hong Kong haven’t been issued since early 2020 and authorities stopped granting new passports in August 2021 for any unnecessary and non-urgent reasons.
China is now preparing to issue new passports and Hong Kong permits again, and opening the floodgates to three years of pent-up travel demand. Within half an hour of the government’s reopening policy announcement, searches for overseas destinations shot up by 1,000%, hitting a three-year high, according to Trip.com. Macau and Hong Kong were among the top searches.
The week-long Lunar New Year holiday at the end of January presents a good opportunity to fly overseas — searches related to travel packages during the break climbed 600%.
It will still take time for Chinese tourist numbers to return to pre-pandemic levels, when they made up the largest group and were some of the biggest spenders. Japan requires a negative Covid-19 test upon arrival for travelers from China, while Malaysia has imposed new tracking and surveillance measures. The US is weighing similar steps due to mounting concerns over renewed risk of infections as China battles Covid — almost 37 million people in the country may have been infected with the virus on a single day last week, according to estimates from the government’s top health authority.
High air fares could also keep a lid on travel, according to some of the responses to a poll on Weibo, which is similar to Twitter.
Demand for travel into China is rising too. Bookings for inbound flights to mainland China increased by 412% Tuesday morning from a day earlier, according to Trip.com data. Many of the Chinese diaspora across the globe — including overseas students — have been kept out due to strict quarantine requirements and haven’t seen family and friends in years.
“I’ve waited so long for this day,” an overseas student wrote on Weibo. “Finally getting to go home!”
2 months ago
I have heard that a new non-executive with expertise in corpprate restructuring will be joining the company, although this information is not public
2 months ago
Chhb cashflow problem... Lky is finding ways to raise money ..
Takda cash macam knm
2 months ago
COUNTRY HEIGHTS HOLDINGS BERHAD [198401006901(119416-K)]
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS PERIOD ENDED 30 SEPTEMBER 2022
CURRENT YEAR
TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30-Sep-22 30-Sep-21
RM'000 RM'000
CASH FLOWS USED IN OPERATING ACTIVITIES
(Loss)/profit before tax (11,113) 12,147
Adjustments for:
Impairment losses on trade and other receivables 34 195
Reversal of impairment losses on trade and other receivables - (747)
Amortisation of deferred income - (885)
Amortisation of rights-of-use assets 4,808 3,139
Depreciation of property, plant and equipment 3,703 5,218
Dividend income (150) (300)
Interest expense 9,218 7,281
Interest income (16) (117)
Inventories written off 33 1
Gain on disposal of other property, plant and equipment (32) (83)
Bad debts recovered (164) (23)
Net unrealised (loss)/gain on foreign exchange 2,090 424
Property, plant & equipment written off - 2
Operating loss before working capital changes 8,411 26,252
Changes in working capital:
Inventories 341 (14,302)
Receivables (18,311) (9,024)
Contract liabilities (1,011) 282
Payables (5,194) 8,377
Cash generated used in operations (15,764) 11,585
Tax paid (1,331) (910)
Interest paid (9,221) (7,284)
Net cash generated used in operating activities (26,316) 3,391
2 months ago
https://www.theedgemarkets.com/article/newsmakers-2014-still-none-wiser-cause-singapore%E2%80%99s-penny-stock-fiasco
so ex Asiasons CEO is innocent? he had nothing to do with John Soh?
2 months ago
Everyone knows, CEO is one step closer to jailhouse rock. But no evidence, what do you think @speakup
2 months ago
Will have some interesting update, creating value; the "goreng" Chef is in Singapore 6 stars hotel, so what do you think the ex-CEO will do...
1 month ago
Nickname "MY", has been on the upside since he got appointed as the independent director
1 month ago
Member of Audit Committee Redesignation - MIRCLE YAP CHING CHAI on 21-Feb-2023.
1 month ago
Mines Wellness City will be the first township in Malaysia to use smart city app
and will be called the M Smart City App (MSA), with cryptocurrency enablement.
The Mines community would benefit from integrated digital services, cutting edge
community engagement and smart city management all on one smart city app.
With its mobile community platform solution users can conveniently do multiple
things online on their phone and local businesses can better serve and connect
with their customers ..........................................
JD.com is one of the top 2 B2C e-commerce platforms in China. A partnership
with CHHB will be a clear signal to the market that CHHB is intent on
transforming its business model into the digital age. The partnership involves
using MIECC to be the flag store for curated JD.com merchandise as well as
warehouse centre for the initial launch; CHHB will also purchase a minimum of
RMB10m of merchandise at the onset; upon successful milestone, CHHB will
expand 2 more flagship stores in the south and the north of Malaysia.
2 weeks ago
Tiada tunai yg mencukupi :)
Country Heights Holdings fails to complete the acquisition of The Heritage Tower @ Mines Wellness City.
1 week ago
Tiada wang terbukti kini
KUALA LUMPUR (March 17): Country Heights Holdings Bhd has failed to complete the acquisition of a 10-storey office tower, The Heritage Tower @ Mines Wellness City, for RM44.1 million after its unit failed to pay 90% of the purchase consideration on time.
In a bourse filing on Friday (March 17), Country Heights said the group’s unit Country Heights Sea Resort Sdn Bhd (CHSR) was unable to proceed with the completion of the acquisition after it failed to pay the outstanding balance of RM39.69 million.
“Maybank has rejected CHSR’s request for an extension of time to make the balance consideration payment, and the company is unable to comply with Chapter 10 of the Listing Requirements on related party transactions by the balance consideration payment deadline of March 15, 2023.
“Therefore, Country Heights and CHSR are exploring all available legal options in response to the situation,” it added.
In November last year, CHSR entered into a memorandum of contract with Messrs Ng Chan Mau & Co Sdn Bhd to acquire the office tower after its bid succeeded at a public auction. Maybank is the appointed licensed auctioneer of the public auction.
As per the salient terms of the memorandum, the RM39.69 million or 90% of the purchase price was to be paid within 120 days from the auction sale.
It said the acquisition is in line with the group’s corporate exercise and transformation plan to create a larger capitalisation, better value, and greater economies of scale for the group.
It had also noted that the purchase of the office tower is via a public auction and not a related party transaction.
Shares in Country Heights ended unchanged on Friday (March 17) at 37.5 sen, giving the group a market capitalisation of RM110.31 million.
Read also:
Country Heights buys office tower for RM44 mil via public auction
6 days ago
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CS Tan
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Good123
Harga warrant 5sen, exercise price RM1.20, pemegang warrant akan untung jika harga syer chhb melebihi RM1.25, :)
2 months ago