CAPITALA (5099): News and Blogs

(Dec 1): After ditching the airasia Superapp name and rebranding as Move in September, Capital A Bhd’s digital arm wants to become an established and widely recognised online travel agency in Southeast Asia.

Move already has 15.4 million active monthly users in the region, and a share of about 10% of its estimated US$30 billion (RM140.17 billion) travel market, chief executive officer Nadia Omer said in an interview with Bloomberg News.

The company, based in Kuala Lumpur, sells flights, hotels, travel insurance, and financial technology products, and offers ride-hailing services specialising in airport journeys.

“The real inflection point in e-commerce, which I see happening in the next two to three years, is in travel,” Nadia said in Kuala Lumpur on Thursday, the same day Capital A reported that Move posted revenue of RM171.4 million for the third quarter ended Sept 30, 2023, up 68% year-on-year.

Below are edited excerpts from the interview with Omer, who became the CEO in October:

Omer: I’m originally from Pakistan, and I come from a very traditional background. My ambition in life was to get married, have kids and have a settled family life. I got married during my studies, and had my first child before my first job. But I felt I had no identity of my own, and my family encouraged me to explore a career. My first job was at Procter & Gamble, where as a young mother, I moved into baby-care products.

Later, Nestlé hired me, and I helped build their juices portfolio, and then I became the head of Nescafe and breakfast cereals in Pakistan. My husband later moved to Thailand, and I found a regional role with PepsiCo.

Then I realised that FMCG (fast-moving consumer goods) had reached a mature stage, and wasn’t growing 15% to 20% annually any more. I started applying for e-commerce companies, and joined CARS24, before the amazing opportunity with Move came up.

The Move branding, is it deliberate to set you apart from AirAsia?
It is. This is a separate entity. To be an online travel agency, you need to fulfil the different needs of customers — not all of those can be met by AirAsia. People are travelling to other countries, and they have to take other carriers. We connect them in ways so they can find those options. I want to make sure they find the right hotels with us.

You have premium travellers, mainstream travellers and affordable travellers. We are somewhere between mainstream and affordable. I want to serve the needs of these people better than anybody else.

How many components does Move have?
We have different verticals. First is flights — we have other airlines as well. We will introduce and scale up travel insurance, like, for the price of a cup of coffee. We are also developing buy now, pay later programmes with our partners.

What are your goals for 2024?
The first home run we need to score is that when we ask people what Move does, they don’t say it’s just for flights. It is for flights plus hotels. The government has announced visa-free entry for China, India, Türkiye and Jordan. We have China and India, two big diasporas that both love coming into this region. Next year, we will start focusing on building the app business there.

This is very interesting n promising business, even, no other airlines are doing it at present, using its own App...could be listed as SPAC in Nasdaq!?
Teleport, Catering n Pax Services we can see from nearest rival, SATS.
ADE (MRO)...SIA ENG.
SIA Group Aviation (SQ, Tiger n Scoot).
AirAsia MOVE, almost same like GRAB...it's the customers that matter...AirAsia Aviation will attract more loyal customers...even if they don't earn much from seats capacity growth.
Hold for #50/100%...then take Action 🐂🚀

10 hours ago

i3lurker

answer is => 2017 + 20 = 2037

20 years just like Maddoff
Loan Ponzi can last 20 years

Sslee

CapA survive on borrowing and how long can this go on?

9 hours ago

paulthesotong

" anticipates all Lease Liabilities will be restructurerd by Dec 23, have be made significant progress with creditors"

9 hours ago

CapitalA Bhd:
Intrinsic Value:
US$:
1. Aviation (Low Cost Airlines): 1B.
2. Capital A Aviation Services (Asia Digital Engineering, Santan, Darts, and associate company Ground Team Red): 0.5B.
3. Logistics (Teleport): 0.5B.
4. Digital ventures (airasia MOVE and BigPay): 1B, and
5. Capital A International, to be incorporated and listed in the United States as an Asean’s leading branding and lifestyle company: 1B.
Estimated: US$4B.!?
🤔😁🚀

9 hours ago

Lease liabilities
The lease liabilities amounting to RM18.9 billion includes deferred aircraft leases of approximately RM2.4 billion. The lease liabilities are supported by ROU assets of RM11.9 billion.

The Group had completed the restructuring of a total of 160 aircraft leases up to the date of this report including the waiver of lease rentals in arrears, as well as reducing future lease rates with a corresponding longer lease term, where necessary, and return of aircraft.

By end 4Q23, expect a total of 187 aircraft to be reactivated by 4Q23, with 161 aircraft available for operation and capacity to reach 74% of pre-Covid level

What can you expect the balance (187-160)= 27 aircraft lease yet to be restructured?

Posted by paulthesotong > Dec 1, 2023 12:26 PM | Report Abuse
" anticipates all Lease Liabilities will be restructurerd by Dec 23, have be made significant progress with creditors

8 hours ago

Vicky

PN17 not yet lifted up. No banks or institutions will buy. Only dumbass will !

8 hours ago

Haha sslleee is best in asking questions, but ppl asked him question , never reply :

Posted by Mikecyc > 10 hours ago | Report Abuse
Haha sslleee you reply 1st le :  

 Stock: [JAKS]: JAKS RESOURCES BERHAD  7 hours ago | Report Abuse  Posted by Mikecyc > 12 minutes ago | Report Abuse  

 Haha Ssllee I had the answer but u reply 1st :  

 Posted by Mikecyc > 11 hours ago | Report Abuse  

 Haha sslleee reply me on what is yr only Win since 2016 6 digit figure first ….   

 Posted by Sslee > 1 minute ago | Report Abuse  

 LSS4 (COD) Aug 2023 and incurred loss before tax of RM1.47 million.  Can somone explain where is the promised Net profit of RM 10 million per year?

8 hours ago

Definition: Intrinsic value is the Present value of the investment of all the expected cash flow over the lifetime discounted at the appropriate discount rate.

Intrinsic value = (CF1/ (1+d)^1) + (CF2/(1+d)^2) + ----- +(CFn/(1+d)^n)

Where:
CF = Cash Flow in the Period
d = Discount rate
n = The period number
This Intrinsic value is actually a Discounted Cash Flow (DCF)
Example of intrinsic value is then the Sum of DCF expected cash flow from varies business streams/Divisions.

geary mind telling us what will be the free cash flow of ech division for you to derive at capA intrinsic value of:
Estimated: US$4B.!?

By the way where will capital A international get it profit and how much profit per year?

Repost:
Posted by Bruce_Wayne > Nov 1, 2023 11:17 PM | Report Abuse

However, Brand AA is a RM2 paid-up capital with zero revenue and Fleet Consolidated Pte Ltd is a newly incorporated company that has yet to file annual returns or financial statements (read also as no revenue).

So 2 shell companies with zero value shall have a 'indicative valuation' of US1 Billion when listed in Nasdaq?!!!

BTW Aetherium Acquisition is also a 2 man show company with non-clickable filings
( https://www.aetheriumcorp.com/public-filings )

---

Brand AA Sdn Bhd (previously AAD Data Sdn Bhd)

FYE 31-12-2022

Balance Sheet Items (RM)
Non-current assets __________________ 0.00
Current assets _________________________ 0.00
Current liabilities _____________________ 81,977.00
Share capital _________________________ 2.00
Reserves _______________________________ 0.00
Retained Earning ____________________ -81,979.00

Income Statement Items (RM Millions)
Revenue _______________________________ 0.00
Profit / (loss) before tax _____________ -46,971.00
Profit / (loss) after tax _______________ -46,971.00
---

Name:FLEET CONSOLIDATED PTE. LTD.
UEN:202313504D
Status: LIVE COMPANY
Address: 77 ROBINSON ROAD, #16-00, ROBINSON 77, SINGAPORE 068896
Industry : RENTING OF AIR TRANSPORT EQUIPMENT WITHOUT OPERATOR (EG AIRPLANES WITHOUT OPERATOR)

Annual Return: N.A
Annual General Meeting: N.A
Financial Statements Filed: N.A

"N.A" means that the company has not filed any AR with ACRA.

https://www.tis.bizfile.gov.sg/

8 hours ago

As a PN17 company capA is facing difficulty to get loans and hence out of necessity an ingenious Finalising revenue bond, which expect to raise USD200 mil cash.

Pledging all the revenue from certain route as collateral (bank into a special account) for the Bond.

8 hours ago

Haha Posted by Bruce_Wayne .. is aka Psai3alertt…

Same as Sslleee is Professional from his postings .

The last debate with Psai3alertt are in Bplant forum ( Sslleee promote ) . He twisted Jtiasa figures as Bplant figures saying I am wrong . Being exposed started bad mouth and disappeared..

7 hours ago

You must be kidding if anyone believe what this super slander Mike-tikus word at all.

7 hours ago

Haha a Kon is always Best in Twisting.. hahaha

Posted by Sslee > 4 minutes ago | Report Abuse

You must be kidding if anyone believe what this super slander Mike-tikus word at all.

7 hours ago

Haha terasa pedas ke makan cili padi … hahaha…

7 hours ago

Haha sslleee why Insas given more than RM 20 million as staff expenses after RI ???

7 hours ago

Haha sslleee why such a cash Rich Insas repeatedly issued RI with RPS n warrant to pay bridging loans ??

7 hours ago

Haha sslleee will this be repeat?

Insas :

👎 B ) Other Operating Expenses = RM 25,842,000 per Quarter .

Included in Other Operating Expenses are the following items :

a) Allowance for doubtful debts

b) Bad Debts written off

c) Provision for Impairment Loss

e) Goodwill written Off

and other items..

7 hours ago

StartOfTheBull

Since AAX has exited from PN17 status, will Lee uses AirAsia to balik kampong for CNY this year?

7 hours ago

Haha he exchanged Wi-fi with his old mate … hahaha

7 hours ago

My Focus 🤔
Jim Simons and Renaissance made the most money when the markets were panicking.
They knew that this is when the humans who make up the financial markets are at their most irrational🤔😮

“Simons’ phone call is a stark reminder of how difficult it can be to turn decision-making over to computers?!
Jim Simons."

7 hours ago

Since I can claim my CNY flight ticket from company account, what airline do you think I will choose?

Posted by StartOfTheBull > Dec 1, 2023 2:48 PM | Report Abuse
Since AAX has exited from PN17 status, will Lee uses AirAsia to balik kampong for CNY this year?

7 hours ago

Haha these are Sslleee Kon gang :

1.) Psai3alertt aka Bruce_Wayne aka Mrs.Lim ..

2.) Probability aka Victor Yong aka Good123 ..

7 hours ago

Move CEO wants travel brand recognition in post-AirAsia era
By Ram Anand / Bloomberg
01 Dec 2023, 11:02 am

Is Move CEO try to imply post-AirAsia era mean AA is dead and gone/burried for good?

7 hours ago

Haha what a pity le , recalled one CNY did not Balik Kampung even Mum is out from ICU , 2021 ke ?

Congratulations to Lee , Next year boleh Balik Kampung ke on CNY festival?

Posted by Sslee > 2 minutes ago | Report Abuse

Since I can claim my CNY flight ticket from company account, what airline do you think I will choose?

7 hours ago

Jim Simons,
1. "Be guided by beauty. Just as a great theorem can be very beautiful, a company that's really working on all things very efficiently can be beautiful."

2. "Surround yourself with the smartest and best people you possibly can. Let them do their thing, don't sit on top of them. And if they're smarter than you, all the better."

3. "If everyone is trying to solve the same problem, if that's the latest and greatest thing to do, don't do that. Do something original, don't follow the pack."

4. "Don't give up easily, stick with it. Not forever, but really give it a chance to get where you're going."

5. "The final principle is 'hope for good luck.' That's the most important one."

7 hours ago

I3lurker what is 515?

7 hours ago

Haha 2022 ?

Posted by Mikecyc > 0 seconds ago | Report Abuse

Haha what a pity le , recalled one CNY did not Balik Kampung even Mum is out from ICU , 2021 ke ?

Congratulations to Lee , Next year boleh Balik Kampung ke on CNY festival?

Posted by Sslee > 2 minutes ago | Report Abuse

Since I can claim my CNY flight ticket from company account, what airline do you think I will choose?

7 hours ago

Haha Lirker how is Le Wi-fi ?

7 hours ago

5."The final principle is 'hope for good luck.' That's the most important one."

Geary, if your principle is just hope for good luck then you are destined for failure.

LUCK is when Preparation meets Opportunity and Success is 99% hard work + 1% good luck

“Hope for the best and be prepared for the worst” is a quote by Maya Angelou. Lee Child said, “Hope for the best, plan for the worst”. Zig Ziglar said, “Expect the best prepare for the worst”. Why is it good to be prepared for the worst because, by preparing for the worst, you can reach your goals much more smoothly and you can put more of your energy in having positive attitude knowing that you have covered any eventualities and lessening the negative chatter in your head.

6 hours ago

Haha Sot2Lee can tell why your only One Win since investing 2016 is telling lies ??

6 hours ago

StartOfTheBull

Lee, use AirAsia.

6 hours ago

xskyriver

sslee is a kind person, although he does not like AirAsia but I believe he will still help AirAsia to reduce AirAsia loss, by choosing Malaysia Airline to fly balik kampung.

6 hours ago

Nadia was appointed as Move CEO effective Oct 26 this year. Her previous corporate experience ranged from Procter & Gamble, Nestle and PepsiCo.
no worry beauty queen Nadia will save us... Tony knows what we all want. We are surely in good hands

6 hours ago

the face alone worth 2.0++ go cap A lets MOVE !

5 hours ago

At least geary try to talk about intrinsic value but if you value the company by face then you need a lot of hope for good luck.

Posted by The_JQuestion > Dec 1, 2023 4:24 PM | Report Abuse
the face alone worth 2.0++ go cap A lets MOVE !

5 hours ago

i3lurker

it could be worse
Valuation by Tits & Nipples 🤣

Sslee

At least geary try to talk about intrinsic value but if you value the company by face then you need a lot of hope for good luck.

5 hours ago

paulthesotong

Even GOM wants to help

https://theedgemalaysia.com/node/692305

4 hours ago

China and India citizens will have visa-free entry to Malaysia for up to 30 days from December 1. The visa exemptions will be in effect until December 31, 2024.1 day ago

4 hours ago

disgusting old man talk HAHAHA is that how u talk with ur old gangs? hello this is a public forum :))
too bad this old cock like an old face like moodin ... he dont like to see fresh face, HAHAHAH sad living in an old rock
capital A is MOVE -ing without u sslee/bob/rr88/lookerss

3 hours ago

what??? crying with losses and barely inch down 0.57% ??? what say u master shifus? always showing ur clueless ness and nvr admit it :))

3 hours ago

Janus Mun

Hodl!

3 hours ago

Is Kenanga Analyst clueless and still talking about capA divest its aviation group to AirAsia X in exchange of shares to be distributed back to its shareholders?

Source : KENANGA
Stock : CAPITALA Price Target : 0.84 | Price Call : HOLD
Last Price : 0.865 | Upside/Downside : -0.025 (2.89%)

CAPITALA’s 9MFY23 results disappointed as the rebound in air travel fell short of expectations. We share its optimism that the recovery in air travel will further accelerate moving into 2024. It is unveiling its PN17 regularisation plan by end-2023. We now forecast a net loss of RM33m (from a profit previously) in FY23F but keep our TP of RM0.84 and MARKET PERFORM call.

It reported a core net loss of RM291m in 9MFY23, against our full-year net profit forecast of RM201m and the full-year consensus net profit estimate of RM155m. The variance against our forecast came largely from the rebound in air travel falling short of expectations.

The key takeaways from the analysts briefing yesterday are as follows:
1. It is on track to announce PN17 regularisation plan by end Dec 2023 with completion expected by 2QCY24. We gathered that it plans to divest its aviation group to AirAsia X in exchange of shares to be distributed back to its shareholders.

3 hours ago

Mabel

Capital A in ‘last stretch’ on finalising PN17 exit plan
BY ISABELLE FRANCIS THEEDGEMALAYSIA.COM

KUALA LUMPUR (Nov 30): Capital A Bhd said it is in the “last stretch” of finalising its Practice Note 17 (PN17) regularisation plan and aims to make a full submission to Bursa Malaysia in “the near future”.

“This careful planning ensures that our restructuring reviews and discussions are thorough, and reflect our dedication to long-term stability and strategic adaptability,” it said in a bourse filing on Thursday.

Bursa Malaysia had granted Capital A its third extension of time — until Dec 31, 2023, this round — to submit its regularisation plan to the regulatory authorities.

The group had triggered the criteria for PN17 in July 2020, after its external auditors EY issued an unqualified audit opinion with material uncertainty relating to going concern in respect of its audited financial statements for FY2019, plus its shareholders’ equity on a consolidated basis was 50% or less of its share capital.

Notably, Capital A had announced earlier this month that it plans to float its AirAsia brand royalty business and aircraft leasing unit in the US through a Nasdaq-listed special purpose acquisition company named Aetherium Acquisition Corp (GMFI) as part of its plans to regularise its financials. The group is seeking an indicative valuation of US$1 billion for the listing exercise.

Last Wednesday, its sister company AirAsia X Bhd exited PN17 status after its appeal was allowed by Bursa Malaysia.

The medium-haul low-cost carrier said the regulator would allow the group’s appeal and exempt it from submitting a regularisation plan if it posted a net profit for the third quarter ended Sept 30, 2023; it reported a net profit of RM5.56 million, down 77.83% compared with RM25.09 million posted for the same period last year due to higher aircraft fuel expenses and maintenance and overhaul costs.

While investors on Bursa Malaysia await Capital A’s regularisation plan, the group said it is considering various financing options for its operations in Indonesia and the Philippines, which could include an imminent initial public offering (IPO) for AirAsia Philippines and further equity raising from AirAsia Indonesia.

This comes after the airline business accessed the third instalment of a loan from Bangkok Bank, with the final settlement expected by the end of this quarter.

In addition, a US$200 million revenue bond intended for expansion of the aviation business is in progress, said the group.

“In the meantime, AirAsia MOVE is nearing the end of its due diligence for an investment by a private equity, and Teleport has recently secured their approved loan to enhance its working capital,” the group said.

Capital A chief executive officer Tan Sri Tony Fernandes had previously indicated that the AirAsia Philippines unit is planning an IPO for 2024, revisiting a fundraising strategy that was put on hold multiple times.

2 hours ago

ken2004

Seriously, people buy for the potential............which this part whether the company in the coming year will earning big bucks or not..........

2 hours ago

ken2004

Just like you compare with other company earning profit but why their price cannot compare with capiala even though the company is not pn17 or even in debt? because the earning potential show here.........but definitely if you don't believe they will be earning next year, then you can forget about this company........

2 hours ago

HLIB research also said that Capital A is expected to undertake a disposal exercise that will involve AirAsia X, which recently had its own PN 17 status uplifted.
Capital A is also exploring the listing of Philippines AirAsia Inc and PT Indonesia AirAsia.

Is HLIB research clueless that PT Indonesia AirAsia is a listed company in Indonesia?

AirAsia Indonesia Tbk PT
IDX: CMPP
OverviewCompareFinancials
131.00 IDR −5.00 (3.68%)today
1 Dec, 4:01 pm GMT+7 • Disclaimer
Open
136.00
High
136.00
Low
127.00
Mkt cap
1.40T
P/E ratio
-
Div yield
-
52-wk high
230.00
52-wk low
113.00

2 hours ago

Mabel

Capital A Berhad

Share Price 7 Day 1 Year
0.86 -0.6% 54.5%

Third quarter 2023 results:

Revenue: RM4.23b (up 116% from 3Q 2022).
Net loss: RM178.8m (loss narrowed 80% from 3Q 2022).

Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Airlines industry in Asia.

Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.

Thank you Magician Tony!

Captain Mabel Meow

1 hour ago

Know how many IBs analyst is cutting their projected earning for 2023, 2024 and 2025?

What had gone wrong with CapA when many other airlines are earning big profit and talking about rewarding their employees with many months of year end bonus?

Posted by ken2004 > Dec 1, 2023 8:06 PM | Report Abuse
Seriously, people buy for the potential............which this part whether the company in the coming year will earning big bucks or not..........

1 hour ago