CAPITAL A BERHAD
KLSE (MYR): CAPITALA (5099)
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Last Price
0.79
Today's Change
+0.055 (7.48%)
Day's Change
0.75 - 0.795
Trading Volume
66,923,500
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Discussions
125 people like this. Showing 50 of 166,706 comments
AAAGL:
• 20.95% equity interest in IAA
• 40.71% equity interest in AAV
• 100.00% equity interest in AA Com (60% AAI)
• 40.00% equity interest in AAI
AAI 99.66% equity interest in PAA
• Investment in convertible bond issued by AAI USD 25 million
• 46.25% equity interest in AAID (with 57.25% equity interest in IAA)
AAV is listed in Thai and hold 100% Thai AA
IAA listed in Indonesia and hold 100% AA indonesia
PAA is unlisted Philippine AA where someone abuse his power to acquired the 60% from JV partner for undisclosed sum and is now 100% owed by AAAGL.
Auditor of PAA has this to say about PAA:
Tony Fernandes literally loses his shirt! Isla Lipana red flags Air Asia Philippines after hemorrhaging P14B in last 2 years
BILYONARYO.COM
October 23, 2023
Things are getting turbulent in Tony Fernandes’ Air Asia Philippines (AirAsia) adventure as the budget carrier has taken a nosedive, racking up a jaw-dropping P14 billion in losses over the past two years.
Isla Lipana & Co., the auditing firm, isn’t pulling any punches and is openly questioning whether Fernandes can navigate AirAsia through financial storm clouds.
In the firm’s latest annual report, Isla Lipana said AirAsia’s massive losses -P7.9 billion in in 2022 and P6.4 billion in 2021 – which have pushed its capital deficiency to P39.9 billion or 60 times its original capital.
Beyond these losses, AirAsia is grappling with unpaid obligations to creditors and aircraft lessors.
As of 2022, AirAsia is mired in a liability quagmire, with P11 billion in dues and demandable payments and another P24 billion due within a year.
The airline’s struggle to meet its obligations predates the pandemic. In 2018, it failed to meet financial commitments related to a P1.78 billion loan from BDO Unibank. The carrier managed to postpone payments to BDO as well as restructure its lease contracts with aircraft suppliers.
Isla Lipana said these figures indicate that a “material uncertainty” exists on its ability to continue as a going concern.
Based on the Company’s audited consolidated financial statements for the financial
year ended (“FYE”) 31 December 2022, the Proposed AAAGL Disposal is expected to
result in a pro forma gain arising from the remeasurement of the remaining interest in
AAAGL upon completion of the Proposed AAAGL Disposal of approximately
RM4,691.0 million. The details of the pro forma gain arising from the Proposed
Disposals is set out below:
RM’ million
AAAGL Disposal Consideration 3,000.00
Add: Net liabilities of AAAGL as at 31 December 2022 1,801.00
Less: Derecognition of goodwill in IAA and AAAGL in the Company (45.70)
Less: Transaction costs for the Proposed AAAGL Disposal (4.30)
Less: Estimated capital gains tax (60.00)
Net gain arising from the remeasurement of the remaining interest in AAAGL 4,691.00
2 days ago
Since AAV is listed in Thai and IAA in Indonesia respecting Thai and Indonesia SC will governed their listing requirement.
PAA is unlisted and most likely in deep financial trouble and the AAAGL net liabilities of RM 1,801 million most likely majority come from PAA.
So is AAX BOD out of their mind or Stony arm twisting them to accept the deal of paying RM 3 billion in new isssues of Newco shares and at the sametime taking over the AAAGL net liabilities of RM 1,801 billion?
2 days ago
Expected gain arising from the Proposed AAB Disposal
Based on the Company’s audited consolidated financial statements for the FYE 31
December 2022, the Proposed AAB Disposal is expected to result in a pro forma gain
on disposal of AAB upon completion of the Proposed AAB Disposal of approximately
RM6,071.45 million. The details of the pro forma gain arising from the Proposed AAB
Disposal is set out below:
RM’ million
AAB Disposal Consideration 3,800.00
Add: Net liabilities of AAB as at 31 December 2022 2,351.75
Less: Transaction costs for the Proposed AAB Disposal (4.30)
Less: Estimated capital gains tax (76.00)
Pro forma gain on disposal of AAB 6,071.45
The NewCo will then acquire Capital A's aviation business — AirAsia Aviation Group Ltd (AAAGL) and AirAsia Bhd (AAB) — for RM6.8 billion. It will be issuing new shares worth RM3 billion in the NewCo to acquire AAAGL, while it will acquire AAB for RM3.8 billion, to be satisfied by assuming RM3.8 billion of the RM3.83 billion worth of debt that Capital A owes AAB.
Newco issuing new shares worth RM3 billion in the NewCo to acquire AAAGL, and at the same time take over Net liabilities of AAAGL as at 31 December 2022 RM 1,801.00 million
Newco acquire AAB for RM3.8 billion, to be satisfied by assuming RM3.8 billion of the RM3.83 billion worth of debt and at the same time take over AAB Net liabilities of as at 31 December 2022 2,351.75 million.
Any suckers for RM 1.00 billion AAX/Newco PP?
2 days ago
Besides the above doubts, there are more to expect after this disposal exercise:
1. CAP-A share capital reduction & shares consolidation
2. MRO new maintenance facility (extra 14 planes capacity) expected to be completed in 2Q or 3Q2024 in KLIA
3. improved Teleport network
4. new business strategy to become ASEAN regional transfer hub.
Therefore, I see grow potential.
The most concern part of AAX makan AA is the AA huge debts (leases contract). How new company going to repay?
Of course these leases mostly are long term (10 years to 15 years), and paid by every year revenue until paid off.
Just like you buy a car, bank approved you 7 years loan, of course you pay every month from your salary until 7th year, right?
As long as business is good, ASEAN no. 1 budget airline takkan lari from paying debt.
2 days ago
Tony paling untung hor, actually not director salary ....
BUT RCUID, 1-2% royalty fee (if listed in NYSE) , 1% USD revenue bond (future).
Why Tony sell football team & sell house, because the bullet is ready for new company RM 1B private placement.
I am looking forward if Stanley increase his stake in new company as well, who will reject the stake of a cash cow?
2 days ago
As at 31/12/2023 capA
Current lease liabilities: RM 5,259,638,000
Current Trade and other payables: RM 4,301,022,000
Can capA or now Newco not default on the above current liabiliaties?
I am booking front seat row with my popcorn and cola watching will Stony and BOD end up in jail if Newco default on payment of current debts, lease, maintenance, trade and others payables in 12 months time.
2 days ago
Make believe is this guy Dato Lim Kian Onn Ex Director AAX aka Garynma Investment Pvt Ltd will subscribe 15% pf PP.
2 days ago
jr warren i ready cash to buy nasdaq listing HEHE ,, legit CASH COW .... bright BRight days for tony and gang to the banks
from zero to billions in USD ,, made out of perfect accounting hands down best in the country and even WORLD ..
who did it , NOBODY but TONY !
2 days ago
#Sslee 52 Weeks Range: 0.64 - 1.12
The question: defying the odds , i have been here more than a year and I beat them in estimates, dont be too stubborn and only accept traditional view , its OK
So how many times you managed to buy at 0.64 and sell at 1.12.
Meanwhile I already earned my multibagger in trading Insas-WC
27/04/2024 9:46 AM
Well done sslee on Insas -WC..
Most of us have been trading in and out in this counter ever since PreCovid including those two delicious Dividends..
Always remember, a lot of trading mistakes is due to having too HIGH expectations for big results. This causes stress, anxiety, poor judgement, and overconfidence.
This can happen in 2 ways:
1. You lost money now you want to make it back. Well, then you start to force trades, revenge trade, take big positions and make a bunch of other mistakes.
2. You made a lot of money now you think you are unstoppable. You got lucky a few times so now you think you don't need to manage risk, increase position size and double your money, lol continue
Takeaway
* Stay focused and always keep calm.
* Continue improving trading system and process
* In the middle of trading don't change your process only do it afterwards when you review.
* Consistency is what you are striving for as a trader nothing else (yes, nothing else).
To Our Success !
Meow
1 day ago
Haha the reason why Mabel put her money in PN17 Sapura Energy and Capital A is because she wants to be part of their turnaround journey.
Mabel see some possibilities and similarities between these two PN17 Companies. So Mabel is counting on our Magician to pull this together as it can have a spin-off effect...hihihi..
Coming to think of it, Lady Sapura order book received from last quarter of 5b has increased to latest announcement of 6.6b. A very impressive number. Some more the cash flow position is also equivalent to nearly $0.09 per share. So they are doing good business project and now they only need to swap the debts through regulatory channels to clean balance sheet figure as like AAX and Capital A debt swap. It takes time but any invested investors can’t wait must invest somewhere and not in this Lady as the NTA is -$0.13 after selling OMV instead of $-0.23. So if they can raise right issue of $0.13 per share then this counter should expect to get out of PN17 status without even white knights needed
*Recap: Spinoff from Sapura Energy’s sale of its OMV business to the French TotalEnergies*:
*Sale of OMV Stake*: Sapura Energy Berhad announced the divestment of its 50% equity interest in SapuraOMV Upstream Sdn Bhd to TotalEnergies Holdings SAS. The transaction involves a cash consideration of USD 530.3 million (approximately RM 2,534.5 million). Additionally, TotalEnergies will relieve Sapura Energy of a USD 175 million obligation related to a financing facility extended by OMV Exploration & Production GmbH to SapuraOMV. The total disposal consideration, including both cash payment and the release of the obligation, amounts to USD 705.3 million (approximately RM 3,370.8 million). The acquisition is subject to regulatory approvals and customary closing adjustments, expected no later than the second half of 2025.
*Order Book Growth*: Sapura Energy’s order book has increased from RM 5 billion to RM 6.6 billion. This impressive growth reflects strong demand for their services and projects.
*Cash Flow Position*: The company’s cash flow position is equivalent to nearly $0.09 per share. Cash flow per share is a robust measure of financial strength, as it considers after-tax earnings and depreciation on a per-share basis. Unlike earnings per share, which can be manipulated, cash flow per share provides a more accurate assessment of a company’s financial health.
*Debt Swap and Balance Sheet Cleanup*: The company aims to clean up its balance sheet by swapping debts through regulatory channels. Like the strategies employed by AAX and Capital A, this process takes time but is essential for long-term sustainability. If executed successfully, it could help Sapura Energy exit PN17 status without relying on external white knights.
These developments indicate Sapura Energy’s commitment to recovery and long-term viability just like Capital A..
To Our Success !
Captain Mabel Meow
1 day ago
Summing up: Haha the reason why Mabel put her money in PN17 Sapura Energy and Capital A is because she wants to be part of their turnaround journey.
Mabel see more possibilities and similarities between these two PN17 Companies. So Mabel is counting on our Smart Accountant Magician to pull this together as it can have a spin-off effect...Here lies the differences:
One can start from Zero to be a Hero.
Satu lagi kena jual ini jual itu sampai Zero.
Let's see how these two CEO (Sapnrg and CapitalA) managed their turnaround. So far both of these PN17 Companies have been profitable and not a liability for Mabel to hold.
To Our Success!
Captain Mabel Meow
1 day ago
Me not intend to book any flight, flying to holland with Magician Stony.
But will be at the front row seat with popcorn and cola watching Stony' bollywood dance and magic show. Hope Stony don't tripped over and end up in Jail....hihihi
1 day ago
sslee u buy at 0.70 sens? and earn 1 sen sell and ask ppl to sell?? why so shallow
let me tell u how a great man thinks ... tony is looking to venture out of malaysia , thai is a good hub. they are setting up airasia cambodia another good market. In fact , he is the only company that has airline setup all over the world (ASEAN ). with nasdaq listing , he will have the full throttle. If he gets srilankan airlines , this will spearhead his position and takeover the WORLD. I am putting my hopes on THAT . THis is the greatest , the time is right , he is at HIS PEAK . NOthing is going to stop him no MORE. another 5 years, can u IMAGINE IT ?!
1 day ago
Restructuring debt like berjaya group. Sure many got burn when the stock tank.
20 hours ago
This is what inside
AAAGL:
• 20.95% equity interest in IAA
• 40.71% equity interest in AAV
• 100.00% equity interest in AA Com (60% AAI)
• 40.00% equity interest in AAI
AAI 99.66% equity interest in PAA
• Investment in convertible bond issued by AAI USD 25 million
• 46.25% equity interest in AAID (with 57.25% equity interest in IAA)
AAV is listed in Thai and hold 100% Thai AA
IAA listed in Indonesia and hold 100% AA indonesia
PAA is unlisted Philippine AA where someone abuse his power to acquired the 60% from JV partner for undisclosed sum and is now 100% owed by AAAGL.
Auditor of PAA has this to say about PAA:
Tony Fernandes literally loses his shirt! Isla Lipana red flags Air Asia Philippines after hemorrhaging P14B in last 2 years
BILYONARYO.COM
October 23, 2023
Things are getting turbulent in Tony Fernandes’ Air Asia Philippines (AirAsia) adventure as the budget carrier has taken a nosedive, racking up a jaw-dropping P14 billion in losses over the past two years.
Isla Lipana & Co., the auditing firm, isn’t pulling any punches and is openly questioning whether Fernandes can navigate AirAsia through financial storm clouds.
In the firm’s latest annual report, Isla Lipana said AirAsia’s massive losses -P7.9 billion in in 2022 and P6.4 billion in 2021 – which have pushed its capital deficiency to P39.9 billion or 60 times its original capital.
Beyond these losses, AirAsia is grappling with unpaid obligations to creditors and aircraft lessors.
As of 2022, AirAsia is mired in a liability quagmire, with P11 billion in dues and demandable payments and another P24 billion due within a year.
The airline’s struggle to meet its obligations predates the pandemic. In 2018, it failed to meet financial commitments related to a P1.78 billion loan from BDO Unibank. The carrier managed to postpone payments to BDO as well as restructure its lease contracts with aircraft suppliers.
Isla Lipana said these figures indicate that a “material uncertainty” exists on its ability to continue as a going concern.
19 hours ago
life is not beautiful when u see the facts and figure presented by SSL. Foods for thought!!!! Your money your risk
18 hours ago
AAV is listed in Thai and hold 100% Thai AA
IAA listed in Indonesia and hold 100% AA indonesia
Since both is listed and have their own BOD and is governed by respective SC rule and regulation.
The question India AA sold to JV partner. Japan AA JV partner prefer to close down.
Then why Stony spend undisclosed sum bought over the 60% of JV partner for an insolvent, debts laddden Philippine AA?
Someone must be out of mind for thinking capA got any money to buy over another insolvent, debts ladden srilankan airlines?
Did someone heard most likely the US listing is off the table?
18 hours ago
If capA is listed in Thai or Indonesia the BOD will be call up by SC to explain the acquisition of 60% PAA from JV for undisclosed sum for an insolvent and debts ladden PAA
But in Malaysia boleh land. Someone can just abuse his power to do so without disclosing how the acquisition will financial impact on capA.
18 hours ago
Life is so beautiful when you are flying with a True Magician...hihihi
Fly Robin Fly..
16 hours ago
Why would Stony and Kamar do that when RCUIDS give them a good fixed interest income that they can use to repay the interest of their borrow money they used to pay for the RCUIDS and free warrants?
15 hours ago
tony and friends need to convert to be eligible for AAG shares...wa exercise price is RM1...so need to pump more if warrants also get into play
13 hours ago
DickyMe Who is Robin? Secret affair?
29/04/2024 11:05 AM
Haha Dicky Dear...
https://youtu.be/wC_kCnm3GYQ?si=FlP8GbzFHr77Ma-e
Fly Robin Fly..
Fly up to the skies..
80 is cumming..hihihi
To Our Success!
Meow Meow Meow
13 hours ago
I will enjoy the ride, collecting interest, wait for share consolidation and get capital gain at the end =)
13 hours ago
12 hours ago
Lol, wow, you really persistent to defend your position, write till so long when you are not buying, next to see for me will be whether they can exit PN17, the rest too complex for me to understand..........
11 hours ago
Hi guys...can anyone explain ..how this would affect our current holding of Capital A ?
An entitled Capital A shareholder would receive up to 397 NewCo shares for each 1,000 Capital A shares held, depending on Capital A’s shares based on the entitlement date
11 hours ago
Yes Lah...Capital A will be out of the storm by June 2024.
https://theedgemalaysia.com/node/709721
KUALA LUMPUR (April 29): Shares of Capital A Bhd and AirAsia X Bhd (AAX) climbed further during Monday’s morning trading session.
• AAX, which is buying AirAsia’s short-haul airline businesses currently parked under Capital A, saw its shares rise as much as 18 sen or 13.14% to RM1.55 in the morning session. The counter is up 27% in the last five days. At noon break, the counter is still up 13 sen or 9.49% at RM1.50, valuing the group at RM670.61 million. Trading volume surged to 15.28 million shares, five times its two-month average of 2.69 million shares.
• Shares of Capital A rose as much as six sen or 8.16% with 52.9 million shares traded, more than five times its two-month average volume of 9.28 million. At noon break, the counter is still up 5.5 sen or 7.48% at 79 sen, valuing the group at RM3.32 billion. The counter is up 17.9% in the past five trading days.
Capital A has also proposed to distribute 73.33% of the NewCo shares to its shareholders via capital reduction (RM2.2 billion worth, based on transaction price of RM1.30 apiece). An entitled Capital A shareholder would receive up to 397 NewCo shares for each 1,000 Capital A shares held, depending on Capital A’s shares based on the entitlement date.
To New York with Loves..
Captain Mabel Meow
5 hours ago
Life is so beautiful when you are flying with the World's Best Magician.
Syabas Tony and Team!
Meow Meow Meow
5 hours ago
sslee cannot believe it . he know swear tony go to jail . ppl show him super SHOW , he not grateful. we are all grate ful , the beginning of a new ERA. cambodia airasia take off next month , MORE TO COME ? a beginning to our HUAT CHAI :)
5 hours ago
DickyMe 397 FREE ker?
29/04/2024 5:58 PM
Stand to be correct...Mabel thinks it FREE to compensate the share dilution with NewCo..
Anyway, let's wait for more good news to cum..
Meow Meow Meow
5 hours ago
EngineeringProfit Next stop - where? 2.00?
29/04/2024 8:53 PM
CAPITALA & AAX: Let our powers combine.
Restoring CAPITALA to BUY, upgrade AAX to BUY Details of the merger between CAPITALA’s 4 airlines and AAX were released.
For CAPITALA, more needs to be done to lift its PN17 classification. The merger is value dilutive in the short term but may be value accretive in the long term.
We restore our BUY call and MYR0.94 SOP-TP on CAPITALA. For AAX, the merger is EPS neutral but may be value accretive due to the more stable earnings profile of the enlarged group; we maintain our MYR1.52 TP. With 26% upside, we upgrade AAX to BUY
Source: Mabel Tiger Bank..
3 hours ago
Operating Results don't lie n it's not a fake news
https://newsroom.airasia.com/news/capital-a-1q2024-operating-results#gsc.tab=0
3 hours ago
tomorrow 90 sens no PROBLEM !!! all the way SKY HIGH , courtesy of CAptain tan sri tony !
2 hours ago
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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....
DickyMe
Promotions are to attract customers or rather passenger. This is basic marketing. Every company does that including Nestle, in their own way.
2 days ago