CAPITAL A BERHAD
KLSE (MYR): CAPITALA (5099)
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Last Price
0.995
Today's Change
-0.005 (0.50%)
Day's Change
0.995 - 1.01
Trading Volume
5,696,800
Meeting
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Discussions
128 people like this. Showing 50 of 169,005 comments
HLIB maintained its "buy" call on Capital A with an unchanged target price of RM1.68, based on an implied valuation of RM6.8 billion for the aviation business and assuming RM2.15 billion for non-aviation segment.
Meow
2 hours ago.
Ultimate catalyst is PN17 is lifted.
Patience...buy/hold on weakness...but analyze your own n understand its diversified aviation business.🤓
1 week ago
Thinking is the analysis after selling the aviation business which only the PN17 will be lifted?
1 week ago
2024-12-02
Price Target
AirAsia X Berhad - Stronger Quarter Ahead
Source : PUBLIC BANK, Price Call : BUY, Price Target : 2.47
Last Price : 1.90, Upside/Downside : +0.57(30.00%)
1 week ago
4qtr passenger traffic is expected to 88% of pre corvid.
Adding 5 new A321neo and 11 in 25.
Expected 18 routes to cater growing demand from India and China.
Peak perfomance expected in 4qrts.
Higher fares expected than pre corvid.
Ancillary revenue to remain above RM 50.
To refinance debts 2025 to help to lower int rate costs.
lower fuel and interest rate in 2024/2025..strong RM.
..,
1 week ago
I hate it when shorties scores big but thank you because managed to buy at 0.97 today.
1 week ago
Coming up a few exciting episode events...
4qtrs High Court approval of transaction
4qtrs Circular submisson n Bursa approval of RP.
1qtrs25 Completed of proposal disposal execution.
1qtrs25 Shareholders and High Court approval.
1half25 PN17 to be lifted upon fulfilling all Bursa requirements.
6 days ago
fly, baby, fly.
https://www.freemalaysiatoday.com/category/business/2024/12/02/2927917/
6 days ago
Capital A Bhd's system-wide revenue passenger kilometres (RPK), which measures the total distance traveled by paying passengers, are projected to increase by 20 per cent to about 70 billion in 2024, according to Kenanga Research
https://www.nst.com.my/business/corporate/2024/12/1142199/capital-gain-stronger-air-travel-recovery-lower-jet-fuel-prices
6 days ago
3Q24 Aviation Performance
MAA IAA PAA TAA CAA
Key Indicators 3Q24 3Q23 YoY 3Q24 3Q23 YoY 3Q24 3Q23 YoY 3Q24 3Q23 YoY 3Q24 2Q24 QoQ
RASK (US cents) 4.52 3.89 16% 4.97 4.36 14% 4.43 5.45 -19% 5.31 4.75 12% 4.98 3.02 65%
CASK (US cents) 4.57 4.55 0% 5.54 4.88 14% 6.02 6.84 -12% 5.26 5.37 -2% 9.87 33.26 -70%
So did aviation make any money flying people?
5 days ago
Wow already selling CNY tickets with additional flights ... 2 months ahead already get money ... so MUCH cash and cash at Premium price with low fuel price and USD.... Q4 + Q1 2025 is looking very superb :)) ,,, is the fear over? UPBEAT incoming ?? one analyst to give low 0.99 and its a NEUTRAL call ...
Nobody said SELL while the rest say BUY ... u trust who ?? a old monkey here??? soon ... erupt again
5 days ago
*Top 20 KLSE stocks bought by foreign investors in Nov 2024*
Foreign net sell on MY equities was heavy in Nov 2024 post the US Election on 5 Nov – in 18 out of 21 trading days, and esp. in the last week of the month. This led to a sizeable MYR3.1b outflow in November (Oct: -MYR1.77b, the largest since Mar 2020, at the start of COVID-19 pandemic lock-downs. 2024 YTD (Jan-Nov) foreign flow has turned negative at -MYR1.32b vs. -MYR2.34b in 2023 (Fig. 4). Market foreign shareholding was 20.1% (unchanged MoM; +0.6ppt YTD).
Please to see that Capital A and AAX is standing P9 and P20 in the Top 20 KLSE stocks bought by foreign investors in Nov 2024
Source: Mabel Tiger Bank
5 days ago
Imagine what will happen when Capital A is out of the Woods aka PN 17.....
Life is so beautiful with Capital A...
5 days ago
Cap A is shooting up again. Wait it catching up with AAX in terms of share price 😁
4 days ago
Buy a plane and straight to the sky..
https://www.gtrmag.com/business-news/industry-news/2024/12/05/malaysias-bid-to-reshape-southeast-asian-aviation/
3 days ago
*AirAsia scores two accolades at Malaysia Management Excellence Awards 2024*
AirAsia triumphed in the Employee Engagement of the Year - Airline and
Health and Wellness Initiative of the Year - Airline categories at the Malaysia Management Excellence Awards 2024, highlighting the efficiency of its initiatives aimed at empowering its employees.
Well done All Stars!
https://asianbusinessreview.com/co-written-partner/event-news/airasia-scores-two-accolades-malaysia-management-excellence-awards-2024
3 days ago
metaverse
https://theedgemalaysia.com/node/736563
05/12/2024 5:09 PM
Capital A and Focus Dynamics have faced different challenges and circumstances. Focus Dynamics has been dealing with accumulated losses and has proposed a share capital reduction to address its financial issues. On the other hand, Capital A has been working on exiting its Practice Note 17 (PN17) status by divesting its aviation business to AirAsia X. This strategic move is expected to improve Capital A's financial position and help it focus on its high-growth aviation support services and digital businesses.
While both companies have faced financial difficulties, Capital A's approach to restructuring and focusing on growth areas may help it avoid the same pitfalls as Focus Dynamics.
3 days ago
As the saying goes one man's poison is another woman's meat. There's more than 1000 Companies to choose. It's your call...
Tony Fernandes has been a visionary leader, and his efforts have significantly shaped the aviation industry. Regarding the financials, it's important to consider the broader context of Capital A's strategy and our Magician is not short of this as he himself is an Accountant.
The proposed share reduction is part of a comprehensive regularization plan aimed at addressing the accumulated losses and improving the company's financial health. While the net asset value might still appear negative post-reduction, this move is designed to streamline the balance sheet and pave the way for future growth.
Moreover, Capital A is not just focusing on its aviation business. The company is diversifying into high-growth areas such as digital services, logistics, and engineering. These sectors have tremendous potential and are expected to drive significant revenue in the coming years.
It's also worth noting that the disposal of the aviation business to AirAsia X is a strategic move to separate the aviation and non-aviation businesses, allowing each to focus on their core strengths and growth opportunities. This separation will enable Capital A to sharpen its focus on maturing its high-growth aviation support services and digital businesses, which are crucial for its long-term success.
In summary, while the immediate financials might seem challenging, the strategic initiatives and diversification efforts by Capital A are aimed at ensuring sustainable growth and profitability in the long run.
2 days ago
Thank you for your insights. While it's true that awards alone cannot save a company, they do reflect the operational excellence and customer satisfaction that AirAsia has consistently delivered. The Malaysia Management Excellence Awards 2024 highlight AirAsia's commitment to quality and innovation, which are crucial for its long-term success.
Comparing AirAsia to Genting Hong Kong and Focus Dynamics may not be entirely fair, as each company faces unique challenges and operates in different industries. AirAsia's restructuring plan is comprehensive and includes strategic initiatives such as the divestment of its aviation business to AirAsia X, which aims to improve its financial position and focus on high-growth areas like digital services and logistics.
Moreover, AirAsia's diversification into non-aviation sectors, such as its digital businesses, logistics, and engineering, provides a solid foundation for future growth. These sectors have significant potential and are expected to drive substantial revenue in the coming years.
While a government bailout could provide immediate relief, AirAsia's strategic initiatives and diversification efforts are designed to ensure sustainable growth and profitability in the long run. Relocating the HQ to Singapore, as suggested, might not be necessary if the company can successfully execute its restructuring plan and leverage its strengths.
2 days ago
paulthesotong Buy a plane and straight to the sky..
https://www.gtrmag.com/business-news/industry-news/2024/12/05/malaysias-bid-to-reshape-southeast-asian-aviation/
05/12/2024 4:34 PM
Thank you, Paul. This is certainly a very positive development. Proud to be one of the shareholders of Capital A. We are shaping the industry and will be part of this success story..
2 days ago
paulthesotong Coming up a few exciting episode events...
4qtrs High Court approval of transaction
4qtrs Circular submisson n Bursa approval of RP.
1qtrs25 Completed of proposal disposal execution.
1qtrs25 Shareholders and High Court approval.
1half25 PN17 to be lifted upon fulfilling all Bursa requirements.
02/12/2024 3:04 PM
To Sir with loves...
2 days ago
AAX debts restructure, capital reduction, 10 to 1 share consolidation and PP to uplift AAX from PN17.
AAX is now bailout CapA by acquisition CapA aviation (AAAGL and AAB) from CapA.
Will government need to come in bailout AAX later is another story.
2 days ago
Stony is smarter, he is using his magic to save two PN17 companies without government help.
2 days ago
Yes lah...that's why we call him the true Magician..
As reported by Maybank, please to see that Capital A and AAX is standing P9 and P20 in the Top 20 KLSE stocks bought by foreign investors in Nov 2024. Surely this FF see the value of this Airlines despite sizeable MYR3.1b outflow in November (Oct: -MYR1.77b, the largest since Mar 2020, at the start of COVID-19 pandemic lock-downs). Hence we are not alone believing in these two airlines.
Thank you for your perspective. While it's understandable to draw parallels with past corporate restructurings, it's important to consider the unique context and strategic vision behind Capital A's current plans.
The disposal of Capital A's aviation business to AirAsia X (AAX) is a strategic move aimed at creating a pure aviation play. This separation allows both entities to focus on their core strengths and growth opportunities. By consolidating the aviation business under AAX, Capital A can streamline its operations and unlock greater value for shareholders.
Unlike the situations with UEM-Renong and Star Cruises, Capital A is not solely dependent on its aviation business. The company has diversified into high-growth areas such as digital services, logistics, and engineering. These sectors have significant potential and are expected to drive substantial revenue in the coming years.
The restructuring plan, including the share capital reduction, is designed to strengthen Capital A's financial position and aid its broader restructuring efforts. This move is expected to offset accumulated losses and improve the company's balance sheet. As Paul shared, our Magician has a clear road map to get out of PN 17. Coming up a few exciting episode events...
4qtrs High Court approval of transaction
4qtrs Circular submisson n Bursa approval of RP.
1qtrs25 Completed of proposal disposal execution.
1qtrs25 Shareholders and High Court approval.
1half25 PN17 to be lifted upon fulfilling all Bursa requirements.
Post-disposal, the aviation business will benefit from focused management and a well-defined strategic direction, which will boost its capacity to seize growth opportunities, expand market share, and ultimately achieve enhanced profitability.
Long-Term Vision: Tony Fernandes and the leadership team have a clear long-term vision for Capital A. The strategic initiatives and diversification efforts are aimed at ensuring sustainable growth and profitability, rather than creating an "empty tank" scenario.
Summing up, while historical examples provide valuable lessons, Capital A's current strategy is well thought out and designed to create value for shareholders and ensure long-term success...
Think about it...Very stable trading at RM 1 while still in PN17...
Imagine what it will be when we are out of PN17?
Perhaps to New York with loves with any of our latest aircraft...hihihi
Airbus A330-300: AAX has been using the Airbus A330-300 for its long-haul flights. This aircraft offers a comfortable and efficient travel experience with a maximum seating capacity of 377 seats.
Airbus A330-900neo: AAX is also incorporating the Airbus A330-900neo into its fleet. This aircraft is known for its fuel efficiency and advanced technology, providing a better overall experience for passengers.
Meow Meow Meow
2 days ago
metaverse dear,
Previously you share some scary scenario about Pchem and YTL Power. Thanks to your perspective Mabel was able to collect both of them at a real bargain price when both stock retrace. Now just like Capital A, all these 3 Musketeers have been giving Mabel endless orgasm lately..
Unlike Capital A, both PCHEM and YTL Power suffered Forex Losses. Hence, Mabel is looking forward to have them written back next cuming quarters..
Enjoy your weekends guys and do have faith with our True Magician.He usually knows what to do...
Meow
2 days ago
I think selling by major shareholder when share price already very much run ahead of fundemental is a resposible move to prevent share price overheating.
1 day ago
Pluck something out of the air...
Qrts Revenue..Aviation Group..Revenue of RM4.5b 15% YoY and EBITDA Rm577M supported by strong travel demand,lower fuel price and stronger Ringgit vs USD.
This is achieved with 20 aircrafts still on the ground including these aircrafts, EBITDA by RM195M.
Next..
1 day ago
Pluch something from capA AGM minutes:
The majority of the liabilities of Aviation/AAX are lease liabilities of RM20 billion that will be repaid over the tenure of lease ranging from 12 to 18 years.
Current lease liabilities of RM5 billion represent lease payment due within 12 months and will be serviced by operating cash flow for the next 12 months.
Aviation is expected to generate positive cash flow to service its liabilities going forward, that is supported by valuation of both AAB and AAAGL under the DCF method.
So the question is with EBITDA Rm577M is that enough to pay lease payment due to lessors for the lease planes?
By the way as at 30/9/2024
RM'000
Current trade and other payables 4,635,016
Current borrowing 1,095,947
Current portion of long term debentures 290,261
Current lease liabilities 3,467,211
And etc
1 day ago
My pal flew over last weekend. She told me that the the airports are jammed with travellers and AA flights are fully loaded going out n coming back..Busiest travel season for yearend.
1 day ago
If you only take care of the top line with millions of cheap sales promotions and collected sales in advance of over RM 2 billion+
Come Q4 result what will be the revenue, EBITDA, PBT, PAT, operation cash flow and financing cashflow.
As as 31/9/2024
Cash flow from financing activities
RM '000
Proceed from borrowings 1,551,768
Repayment of borrowings (524,519)
Repayment of lease liabilities (2,621,956)
So still borrowing addition RM 1billion+ to get the operation running.
As what about BOD reply in EGM minutes?
Current lease liabilities of RM5 billion represent lease payment due within 12 months and will be serviced by operating cash flow for the next 12 months.
1 day ago
The statement is wrong, AAX has not bailout Cap A in this acquisition but Cap A injected AA (huge value asset) into AAX.
AAX take over AA debt become its own, and share swap with Cap A to "buy" AA, so call buy AA but no cash actually involved, it merely got liabilities transfer and share swap.
As for borrowings and leases, overall net effect is still repaid 1.5b loan in cashflow statement.
1 day ago
Referring
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
Isn't above sound like and look like a bailout?
1 day ago
By the way the correct statement is net cash used in financing activities
As as 31/9/2024
Cash flow from financing activities
RM '000
Proceed from borrowings 1,551,768
Repayment of borrowings (524,519)
Repayment of lease liabilities (2,621,956)
Net cash used in financing activities (1,594,707)
1 day ago
“Metaverse >..Looking at Focus Dynamics (stock code 0116), they announced a share reduction of RM126.8 million, and now it's trading at just RM0.02 and interestingly, Focus Dynamics used to announce big-name shareholders like Morgan Stanley, with an address in 1585 Broadway, New York, but it remains an unsolved mystery why a global investment bank would invest in a company trading at 2 cents which involved in share reduction exercises…”
Interesting mystery?? Let's compare the two Capital Reduction CR (NOT share reduction?).
The comparison will be biased toward Focus Dynamic base on latest Focus Dynamic announcement at referenced link: https://www.klsescreener.com/v2/announcements/view/8546821
‘1. “The Proposed Capital Reduction entails the reduction of up to RM126,800,000 of the issued share capital of the Company pursuant to Section 117 of the Act via the cancellation of the Company’s issued share capital which is lost and unrepresented by available assets. The corresponding credit of up to RM126,800,000 arising from such cancellation will be used to setoff against the accumulated losses of the Company as permitted by the relevant and applicable laws, the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad as well as the Company’s Constitution.”
After the CR, the accumulated losses will be RM398.692million. The losses “ Included RM389.13 million arose from the initial recognition of warrant reserve in financial year ended (“FYE”) 31 December 2020.” The warrant reserve will ‘disappear’ after 26 Nov., 2025, the warrant maturity date. Will wait for the said date…as The edge article silent on this.
For CapA, I reserve my comment as both are in different leagues…
‘2. “The Proposed Capital Reduction will enable the Company to reduce its accumulated losses to more appropriately reflect the value of the underlying assets and financial position of the Company and the Group.”
One is under PN17 and the other NOT. CR for Focus Dynamic could be beneficially over a long period, reserved comments for CapA. Both businesses are affected by C19 pandemic; both are on the recovering path…to be fair, CapA has its own niche market, Focus Dynamic don't have.
‘3. On the trading price, Focus Dynamic is trading at P/B of 1.16, whereas CapA is at -0.63. How to compare??
Now comes the mystery part; as at 8 Dec.,2023 Morgan Stanley held 615,446,638 Focus Dynamic shares representing 9.658% of NOSH. When is it acquired?
Before, passed the 5% substantial holding requirements for public reporting, “Increase of 355,780,638 in shares held in respect of which Morgan Stanley may exercise its right to rehypothecate or dispose of on 27 December 2021.” (Rehypothecation is the practice where banks, brokers, or individuals use collateral that they do not own to help finance assets. Previously pledged collateral is used as collateral for a new loan, creating a leveraging cycle that promotes profitability but increases default risk.)
I view this CR for Focus Dynamic optimistically, bought at 2 sen after the announcement; willing to hold until Warrants maturity date around in a year. Happy weekend, Trading and TradeAtYourOwnRisk.
1 day ago
Net impact of financing cashflow is repaid loan, so it is not wrong.
In the nutshell, do you think it is a bailout or an asset injection ?
Bailout = I give you a chunk of money to save your company.
Asset injection = Without incurring any MONEY, assets are being injected into the company as share capital. Example: Sunway injected Sunway Medical Center into Sunway REIT (a separate trust fund entity) as capital.
At the end, how we interpreted the structure, really depend on the angle we look at it.
5 hours ago
If you insist that paying lease payment due/deferred is the same as repaying loans/borrowings then you are right.
You either inject money to bailout a company or if you can find buyer to buy your subsidiaries with total liabilities many billions over total assets then it is not a bailout but a smart move (transfered billions in net liabilities to other).
4 hours ago
Anything U Wants To Know, Just Anything..
https://www.capitala.com/misc/3Q24-presentation-capitala.pdf
4 hours ago
As reported by Maybank, please to see that Capital A and AAX is standing P9 and P20 in the Top 20 KLSE stocks bought by foreign investors in Nov 2024. Surely this FF see the value of this Airlines despite sizeable MYR3.1b outflow in November (Oct: -MYR1.77b, the largest since Mar 2020, at the start of COVID-19 pandemic lock-downs). Hence we are not alone believing in these two airlines.
Imagine what will happen if Capital is out of PN 17?
26 minutes ago
JrWarren Net impact of financing cashflow is repaid loan, so it is not wrong.
In the nutshell, do you think it is a bailout or an asset injection ?
Bailout = I give you a chunk of money to save your company.
Asset injection = Without incurring any MONEY, assets are being injected into the company as share capital. Example: Sunway injected Sunway Medical Center into Sunway REIT (a separate trust fund entity) as capital.
At the end, how we interpreted the structure, really depend on the angle we look at it.
09/12/2024 8:58 AM
Thanks Jr for your insights...
This is Mabel understanding..
In a nutshell, a bailout involves providing a chunk of money to save a company like G provide money to MAS and FGV to save the company, while an asset injection involves injecting assets into the company as share capital without incurring any money like Sunway injected Sunway Medical Center into Sunway REIT as capital.
Capital injections can be done in various ways, such as:
Equity Injection: Investors provide capital in exchange for equity or shares in the company.
Debt Injection: Capital is provided in the form of loans or debt instruments.
Asset Injection: Physical or intangible assets are injected into the company as share capital.
Mabel view the disposal of Capital A's aviation business to AirAsia X (AAX) can be considered a strategic move rather than a traditional asset injection. In this case, Capital A is transferring its aviation business to AAX to create a more focused aviation entity. This move allows both companies to concentrate on their core strengths and growth opportunities.
While it involves the transfer of assets, it is more about restructuring and streamlining operations rather than injecting assets into a company as share capital without incurring money. It's a strategic realignment to unlock greater value for shareholders.
That’s why TF is really a True Magician.
Meow
11 minutes ago
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4.9 / 5.0
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....
Sslee
Why down? Can it be:
Source : MIDF
Stock : CAPITALA Price Target : 0.99 | Price Call : HOLD
Last Price : 1.00 | Upside/Downside : -0.01 (1.00%)
KEY INVESTMENT HIGHLIGHTS
3QFY24 posted an unexpected loss
77% fleet utilisation drove 81% seat capacity recovery
ADE's profitability hit by startup costs
Downward earnings revision between -39% to -214%
Downgrade to NEUTRAL with a revised TP of RM0.99
Below expectations. Capital A Berhad (Capital A) reported a 3QFY24 core LATAMI of -RM545.7m, bringing cumulative 9MFY24 core losses to -RM324.7m after excluding forex gains and one-off items. This fell below our and consensus expectations, which had anticipated a full-year profit, primarily due to higher-than-expected operating expenses (opex) and weaker contributions from non-aviation entities.
1 week ago