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Comments for Wee Choo Keong

Posted by Awanama | Posted on 1:09 PTG

Comments for Wee Choo Keong


Comment on KHAZANAH Stop “ANAKTIRIKAN” MAS! How about LSG Sky Chef Brahim? by tst

Posted: 08 Aug 2011 08:01 AM PDT

1.As of the 1st Quarter of 2011, Air Asia (AA) debts amounted to 7.7 billion with cash balances amounting to 1.7billion.

2. In August 2010. AA announced a deferment of their proposed aircraft purchases but sometime in June 2011 they reversed their decision and proceeded to place an order for an additional 200 new aircrafts at the Paris Air Show.

3. As of 31 March 2011, based on data from their 1st Quarter report, AA's capital commitments stood at RM 19 billion. With the above announcement, an additional RM 54 billion will be added as Capital Commitments as implied in this article:
http://biz.thestar.com.my/news/story.asp?file=/2011/6/24/business/8966621&sec=business
the proposed CC of roughly 75 billion will be spread over a 15 year period ending 2026. In other words,AA has to ratchet up its earnings to an average of 5 billion per annum to meet its future dues. From 2006 to 2010. AA's revenue grew by 10 fold from 110 million to roughly 1.1billion, an average growth of RM 200 million per annum.

4. Its cash trove rose 6 fold from approximately 300 million to 1.7 billion but its debts skyrocketed from 1.05 billion in 2006 to 7.7 billion in 2010, an increase of 700%. One gets the ghastly feeling that this is a debt burden that is spiralling out of control.

The schedule for the aircraft delivery is as follows with the Neo being received from 2016 onwards:
2012 = 14
2013 = 13
2014 = 18
2015 = 19
2016 = 19 (4 Neo)
2017 = 14
2018 = 18
2019 = 19
2020 = 20
2021 = 21
2022 = 23
2023 = 24
2024 = 24
2025 = 24
2026 = 9

To compound the issue, the world economy including Asia's will be into another maelstrom and air travel will invariably be hit:
http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/08/02/bloomberg1376-LPCGED6TTDS201-7DB69T4DDVIF7J1IS4SUCOAULO.DTL

and we probably will have a white elephant in NS soon give or take three years and another one of my dire predictions I made in when commenting on AA in 2009 materialises.

Of course AA can cancel orders but contract penalties will be onerous. In any case, TF is betting on the assumption that being a big borrower will shield him from foreclosure as banks will be leery of bearing heavy losses! bUt then a sizeable chunk of those loans are being held by Malaysian banks and in the worst case scenario, the government and the taxpayer will have to pick the tab to avert a financial meltdown cascading down the AA slope.

Warrior 231

Comment on KHAZANAH Stop “ANAKTIRIKAN” MAS! How about LSG Sky Chef Brahim? by anonymous

Posted: 08 Aug 2011 05:16 AM PDT

Badawi is the chairman of MAS if you all have not known. So it all falls into place. Isn’t it?

Expected. Remember ECM Libra?

Comment on KHAZANAH Stop “ANAKTIRIKAN” MAS! How about LSG Sky Chef Brahim? by Staff_MAS

Posted: 08 Aug 2011 04:22 AM PDT

Thanks to the brilliant WAU strategy proposed by BinaFikir, MAS has been nothing but hidup-segan-mati-tak-mahu over the years. And now, Danny aka Rashdan, the ex-co partner of BinaFikir will be appointed as the new COO of the merged AirAsia-MAS. Khazanah has failed miserably under stewardship on Azman Mokhtar and his boys and why on earth we, the Malaysians, are keeping our eyes closed and allowing this horrible-corporate-disgusting-event to happen?

Comment on KHAZANAH Stop “ANAKTIRIKAN” MAS! How about LSG Sky Chef Brahim? by anonymous

Posted: 08 Aug 2011 01:42 AM PDT

YB I heard the prices charged LSG to MAS are very high and contract for more than 10 years. please check. Thank you for highlighting.

Comment on KHAZANAH Stop “ANAKTIRIKAN” MAS! How about LSG Sky Chef Brahim? by anonymous

Posted: 08 Aug 2011 01:26 AM PDT

if this is the case, MAS sure to die lah!!! Azman, what are you doing in Khazanah? gaji butakah?

Comment on KHAZANAH Stop “ANAKTIRIKAN” MAS! How about LSG Sky Chef Brahim? by STING

Posted: 07 Aug 2011 11:53 PM PDT

Agreed the deal stings worst than shit!

Comment on YB Senator Datuk Idris Jala: Is this AirAsia/MAS share swap an indirect bailout? by nurhani hidayah (@haniekunie)

Posted: 07 Aug 2011 10:33 PM PDT

1 malaysia over and over again. malaysia is already a 1 malaysia country without all the promotions and bodeks upon other races.. i’m not being racist. i’m not a full malay anyways

Comment on Ribuan Terima Kasih Kepada Rapid KL untuk T 205 by weechookeong

Posted: 07 Aug 2011 08:42 PM PDT

Sandra,

Thank you for your comments.

Will check with regards to the CCTV matter. Hope that all is well with the new bus service.

Have a nice day.

Regards

wee choo keong

Comment on KHAZANAH Stop “ANAKTIRIKAN” MAS! How about LSG Sky Chef Brahim? by Cheng KL

Posted: 07 Aug 2011 08:40 PM PDT

The AirAsia-Mas share swap stings!!!!!!!!!!!!!!!!!!

Comment on YB Senator Datuk Idris Jala: Is this AirAsia/MAS share swap an indirect bailout? by Hj Azman AAziz

Posted: 07 Aug 2011 08:31 PM PDT

Don’t understand why the PM allows such thing to happen. Is this part of so-called 1Malaysia and part of the round table discussion? It happens with almost every PM that Malaysia had. We have a government that really take care of a public listed company using public funds. I guess it’s time for the independent MP’s to form a coalition as another alternative to BN and PR.

YB, you are our only avenue to get straight answers from the government.

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