AAX (5238): Results for Last 10 Financial Years (Summary)

Cap A will complete the recovery by Q4 this year.
2025 with all planes flying will reflect the full potential of the financial performance

AAX will be benefited after the merger.

1 month ago

AAX bought AAG for RM6.8B. With share swap of RM3.8B so AAX will only have to come up with RM3B in cash. With a potential revenues of RM11B, how long will it take for AAX to pay off the debt.

1 month ago

AAX did not come out with any money just take over AAGL by issuing AAX share to capA and AAB by take over debt owed by capA to AAB or in other word take over all the CapA Aviation net liabilities.
AAX then need RM 1 billion PP capital injection to stay afloat for another year.

If in FYE 2025 external auditor insist on impairment of goodwill then most likely AAX equity will fall into negative and send AAX into PN17.

1 month ago

As at 30/9/2024
CapA net current liabilities is RM (11,237,082,000)
Hope everyone know what current mean.

1 month ago

Technically capA is an insolvent company and survive on taking in more debts/bonds and keep rolling over debts/lease liabilities/payables and etc.

1 month ago

If AAX price keep going up do you think AAX able tp find investor/investors to take up the RM 1 billion PP?
And what will be AAX PP price?

1 month ago

Upon completion of the Proposed Acquisitions AAX NOSH will increase from 447.07 million into 3,639.72 million. Total borrowings, debentures and lease liabilities as at 31 December 2023 of RM 24,492.69 million (gearing ratio of 42.60 times)

1 month ago

who decide the value ? Valuer or Auditor ?

What was the valuers valuation for AAGL and AAB ? Acquired at premium or discount ?

with Cap A revenue increased from RM11B to more than RM20B in 2025 , will the value revise upside or downside ?

1 month ago

roll over of debt is a common practice for businesses. Did you read through in details the changes in Cap A Financial Statement throughout the years ?

1 month ago

is the financial performance strengthening or weakening ? look at their cash flow statement.

1 month ago

pls study the details before posting.

1 month ago

paulthesotong

SP gonna higher and yet some jesters keep posting on losses,debts n history!

1 month ago

Ok then talk next quarter.
Repost:
30 September 2024: 30 June 2024
USD/MYR
Average rate 4.4566: 4.7323
Closing rate 4.1065: 4.7205

Quarter ended 30 Sep 2024
Foreign exchange gain/ (loss)
Realized: RM 74,800 000
Unrealized: RM 2,195,000,000

So if 30/12/2024 USD/MYR ended at 4.50 what will be the Foreign exchange losses?

1 month ago

Just a simple question if valuer valued a property as 10 million but that property is charged to bank for 5 million loan so are you going to pay the seller 10 million to take over the property and the loan?

Posted by TradingFUN > Dec 27, 2024 10:20 AM | Report Abuse
who decide the value ? Valuer or Auditor ?

What was the valuers valuation for AAGL and AAB ? Acquired at premium or discount ?

1 month ago

Goodwill and intangible assets upon completion of the Proposed Acquisitions are RM10,090.74 million and RM2,430.84 million respectively.

Is above answer you question: Acquired at premium or discount ?

External Auditor, are non-current assets: Deferred tax assets and goodwill subjected to yearly impairment?

“For illustrative purposes, as set out in the pro forma consolidated statement of financial position of our Group as at 31 December 2023 in Appendix VIII of this Circular, the goodwill and intangible assets upon completion of the Proposed Acquisitions are RM10,090.74 million and RM2,430.84 million respectively, based on the assumptions and parameters stated therein.”

Answer
1) Goodwill is subject to yearly impairment assessment; and
2) Deferred tax assets are assessed on a yearly basis to determine whether there are future taxable profits in which the deferred tax assets can be utilised.

1 month ago

MarketNavigator

NTA of AAX will be recalculated

1 month ago

Vista99

ya, its nta will be more than RM1

1 month ago

Have you really read page 300 E&Y report:

After acquisation and capital reduction
AAX
RM'000
Total Shareholders' fund/equity: RM 574,645
Non-controlling interests: RM (1,837,900)
Total equity: RM (1,263,255)

1 month ago

Vista99

Air passengers traffic continues recovery in November 2024

https://www.thestar.com.my/business/business-news/2025/01/02/air-passengers-traffic-continues-recovery-in-november-2024---mavcom

1 month ago

Good signal for another huge profit quarter. Let's continue the momentum to the year 2025.

1 month ago

Here are some of Swift Energy Technology Berhad's (SETB) peers:
PETDAG, BLDPLNT, DLADY, ALLIANZ, SUNCON, PCHEM, GCB, ABMB, KESM, and BKAWAN.

4 weeks ago

MarketNavigator

Those are SET's clients, aren't they?

3 weeks ago

@SSLee pls read through the circular in details before answering.

Do you know what is mean by valuation and how the value was determine?

1 week ago

didn't want to waste time with you. Better spend my valuable time elsewhere.

1 week ago

@SSLee. did you know what was the amount of GoodWill and Intagible Asset for CapA for FY2024 so far and the impairment ? This will be a better reference than simply look at the absolute number as what you posted. This will give you the hint of the quality of the goodwill and Intagible asset.

1 week ago

Repost:
Look like Stony : Capital A to exit PN17 status by 1Q2025, says CEO
By Bernama / Bernama
23 Dec 2024, 06:19 pm
will be delay again.

On behalf of the Board, RHB Investment Bank Berhad wishes to announce that the Company and AAX have mutually agreed to further extend the AAAGL Cut-Off Date and AAB Cut-Off Date under the AAAGL SSPA and AAB SSPA, respectively, from 25 January 2025 until 24 March 2025 or such other date as mutually agreed between the Company and AAX in writing, for the Company and AAX to satisfy the AAAGL Conditions Precedent (save for the AAAGL Condition Precedent relating to due diligence on the AAAGL Target Entities, which has been satisfied) and AAB Conditions Precedent (save for the AAB Condition Precedent relating to due diligence on the AAB Target Entities, which has been satisfied), respectively. This is to allow additional time for the Company and AAX to, amongst others, obtain the approval and/or consent of the relevant authorities, financiers/lenders and/or third parties as well as the sanction of the High Court of Malaya for the capital reduction pursuant to the Proposed Distribution, and for AAX to finalise the definitive terms with the identified investors in relation to AAX’s Proposed Pre-Completion Private Placement Exercise.

In addition, the Company and AAX have mutually agreed to amend and vary the following salient terms of the SSPAs as detailed in the Circular:

Section in the Circular Salient terms of the SSPAs
Section 3.1(x) of Appendix IV and Section 3.1(ix) of Appendix V
AAX raising RM1,000,000,000 within AAX’s financial year ending 31 December 2024, pursuant to the placement letter(s) or commitment letter(s) or agreement(s) (as the case may be) executed by AAX and the identified investors in relation to AAX’s Proposed Pre-Completion Private Placement Exercise

Salient terms of the SSPAs as amended and varied
AAX raising RM1,000,000,000 pursuant to the placement letter(s) or commitment letter(s) or agreement(s) (as the case may be) executed by AAX and the identified investors in relation to AAX’s Proposed Pre-Completion Private Placement Exercise

Save for the amendments and variations as set out in this announcement, all other terms and conditions of the SSPAs shall remain in full force and effect.

This announcement is dated 24 January 2025.

1 week ago

SinGor

Honestly how can investment banker hired by Tony missed " items " listed ( million ringgit banker fees)
My Take, Tony throw the "bait" to Creditors( bankers ) to see their reaction on whether Bankers are
desperate or Not----

1 week ago

The_JQuestion

sslee single fokus to collapse tony ... he wish what happen to him like all his dearest shares.. all his questionable picks of other stocks , nvr ask directors to answer his funny queries.
He wont bother , keep repeat and repeat ... target inititated :)) , but has the result been what he want???
or what WE wished <<<< UNITY >>>> SSlee

1 week ago

Top 10 Southeast Asian Airlines By Seat Capacity in 2025
1. AirAsia (AK) – 2,912,458 Seats
2. Lion Air (JT) – 2,833,937 Seats
3. Cebu Pacific Air (5J) – 2,445,185 Seats
4. Vietnam Airlines (VN) – 2,442,974 Seats
5. Vietjet (VJ) – 2,184,512 Seats
6. Thai AirAsia (FD) – 1,983,860 Seats
7. Singapore Airlines (SQ) – 1,792,511 Seats
8. Philippine Airlines (PR) – 1,549,524 Seats
9. Super Air Jet (IU) – 1,528,380 Seats
10. Malaysia Airlines (MH) – 1,440,792 Seats
Surprise, surprise, surprise Thai Airways does not make it in the list.

1 week ago

Japan chip stocks fall as DeepSeek’s challenge to U.S. AI dominance raises worries for Asian tech firms
Lee Ying Shan

1 week ago

According to a statement on AirAsia Group Bhd's website, the mutually agreed extension moves the completion deadline to March 24, from the original date of Jan 25, in order to allow both companies to finalise the deal.

AAX chief executive officer Benyamin Ismail said the extension is a pragmatic step to ensure all aspects of the exercise are thoroughly and meticulously addressed, including securing final approvals and consents from relevant authorities, financiers, and lessors — most of which he noted to have been already "substantially completed".

"During this period, AAX will also finalise the definitive terms with identified investors for the proposed private placement, aimed at raising gross proceeds of RM1 billion," AAX said.

1 week ago

My only concern is the AAX acquisation of AAAGL and AAB is not done in haste or under duress and coercion that will landed many people in a very bad place.

1 week ago

I still remember how expansive was air travel before AA come into picture. But AA need to make profit or else it will not survive.

1 week ago

The only question now is who will be the AAX RM 1 billion PP investor/investors? And at what AAX price, terms and conditions will investor/investors ready to take up the PP?

1 week ago

SinGor

banker has asked Tony not to knock at their office door ( Tony has admitted too in many interview)----
One billion is not pocket change----With MACC looking into everyone pocket, it is very hard if the deal
is not arrange by Bankers......Furthermore Bankers are going to get another "Hit" by SAP in a month time.
Fresh wound cannot heal in such short period, how to have reasonable discussion

1 week ago

The_JQuestion

sslee can never ask for 1 mil but tony can ask for 1 bil no worry....
1 bil is ntg for tony ... such a valueble company worth billions , tony just move his mouth... time will come , dont worry just chill sit back and relax ,, how can the deal not go thru?? anthony loke also visit airasia flights every festive ,, AA will survive . they are the champs , of normal working class malaysians !

1 week ago

Never ever underestimate a magician especially if he the greatest magician ever to the grace the face of this earth. Tony. He is simply the best there is. No need magic wand. No need spell. All it takes is just a snap of fingers.

1 week ago

A magic trick is essentially just an illusion, meaning it creates the appearance of something impossible happening through skillful manipulation and deception, rather than actual supernatural powers

The goal of a magician is to create an illusion that seems impossible by cleverly directing the audience's attention away from the secret methods used.

1 week ago

Roll over deferred lease liabilities into revenue bond is what You called magic?

The greatest magic Stony try to perform is getting CapA out of PN17 by you know how:

Repost:
Stock: [CAPITALA]: CAPITAL A BERHAD
Jan 24, 2025 7:54 AM | Report Abuse

https://theedgemalaysia.com/node/727957
Capital A can exit PN17 before branding biz carve-out, says Fernandes
The proposed RM6.68 billion disposal of AirAsia Bhd and AirAsia Aviation Group Ltd to AAX will lead to a pro forma gain of over RM18 billion when the transfer of accumulated losses in the aviation business is included, according to Capital A

The only problems is AAX need to raise 1 billion thro' PP to prevent itself from falling into PN17 post acquisition

1 week ago

If the Malaysian govt had any sense considering the flaying MAS is having to go through with its ace management it had better support the goose that may lay the tourist eggs.

6 days ago

Singapore’s state investor Temasek Holdings and others will inject as much as 19 billion Singapore dollars ($13.27bn) into Singapore Airlines (SIA) in the world’s single-biggest rescue of an airline slammed by the coronavirus pandemic.

6 days ago

Looked up Perplexity and this came through : In total, AirAsia received approximately 1.8 billion ringgit in loans during the pandemic, with most of it backed or guaranteed by the Malaysian government.

6 days ago

We should take a leaf from our more prosperous southern neighbours and learn to separate the "wheat from the chaff".

6 days ago

According to Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, as of November 2020, a total of RM28 billion (approximately US$6.9 billion) had been injected into Malaysia Airlines by Khazanah Nasional

6 days ago

Oh dear!!

6 days ago

PROPOSED DISPOSAL BY CAPITAL A BERHAD ("COMPANY") OF ITS 100% EQUITY INTEREST IN AIRASIA AVIATION GROUP LIMITED ("AAAGL") TO AIRASIA X BERHAD ("AAX") FOR A DISPOSAL CONSIDERATION OF RM3,000.0 MILLION TO BE SATISFIED ENTIRELY VIA THE ALLOTMENT AND ISSUANCE OF 2,307,692,307 NEW ORDINARY SHARES IN AAX ("CONSIDERATION SHARES") AT AN ISSUE PRICE OF RM1.30 EACH.

The problem of getting investor/investors to take up the RM 1 billion AAX PP is did AAAGL really worth 2,307,692,307 new AAX shares ? And for RM 1 billion how many new AAX shares PP investor/investors will get?

6 days ago

Will AAX potential RM 1 bollion PP investor/investors be convinced with what BOD assurance that the Board has indeed duly and carefully deliberated the reports by Deloitte prior to concurring with the Company’s objective in this corporate exercise, i.e., advancing its growth ambitions for the future, driven particularly by the aircraft orderbook of close to 400 aircraft, facilitating our continued growth for years to come

Circular Part 1:
PROPOSED ACQUISITION OF 100% EQUITY INTEREST IN AIRASIA AVIATION GROUP LIMITED HELD BY CAPITAL A BERHAD FOR A PURCHASE CONSIDERATION OF RM3,000.00 MILLION TO BE SATISFIED ENTIRELY VIA THE ALLOTMENT AND ISSUANCE OF 2,307,692,307 NEW SHARES AT AN ISSUE PRICE OF RM1.30 EACH (“PROPOSED AAAGL ACQUISITION”);

From CapitalA FYE 2023 report: Summarised statements of financial position as at 31th December are as follows:
Effective Holding
AAV: IAA: PAA
40.71%: 47.43%: 97.71% (99.66 latest)
FYE 2023: FYE 2023: FYE 2023
RM’000: RM’000: RM’000
Non-current assets: 8,094,574:1,627,381: 908,863
Current assets: 1,831,039: 231,987: 242,429
Non-current liabilities: (6,223,938): (2,283,702): (1,679,148)
Current liabilities: (2,573,670): (1,965,010): (3,205,168)
Net (liabilities)/assets: 1,128,005: (2,389,344): (3,733,024)

Question 1: Is BOD imprudent and extremely generous in paying RM 3 billion for AAAGL that is still PAT negative and with shareholders’ deficit of RM (4,515,397,000) and with total borrowings, debentures and lease liabilities of RM 9,638,715,000?

Answer; The Board (save for our Interested Directors) has deliberated a few rounds on the Proposals. The Proposed Acquisitions would enable the formation of the New Aviation Group to better serve the markets we operate in.

Deloitte Corporate Advisory Services Sdn Bhd (“Deloitte”), as the independent valuer was appointed to provide independent third-party insights into the equity value of AirAsia Berhad (“AAB”) and AAAGL (collectively, “Target Companies”), and upon consideration of Target Companies’ historical performances, forward plans and strategy, including but not limited to growth and enhanced synergistic benefits of the airlines, brand strength, traffic rights as well as the future aircraft orderbook, had presented the published valuations incorporated within the Circular to Shareholders
dated 24 September 2024.

WYNCORP Advisory Sdn Bhd (“WYNCORP”), as the independent adviser had also provided satisfactory representation that the rationale and valuation in relation to the exercise are appropriate and reasonable. Guided by the esteemed lineup of independent advisors, please do rest assured that the Board has indeed duly and carefully deliberated the reports by Deloitte prior to concurring with the Company’s objective in this corporate exercise, i.e., advancing its growth ambitions for the future, driven particularly by the aircraft orderbook of close to 400 aircraft, facilitating our continued growth for years to come.

Historical financial performances and financial positions of the Target Companies were adversely impacted by COVID-19; the formation of the New Aviation Group will ensure that the Company is well-positioned to capitalise on the recovery of the aviation industry.

5 days ago