mas on jan 2012 was 1.37,april was 1.27,today is 1.06 what will happen next?

drop further

yape may below 1.00

Maybank just issued a "Sell" on this counter.

http://www.btimes.com.my/Current_News/BTIM...icle/index_html

point of no return???

No Value........

you define it under value?

MAS posts smaller loss...

http://thestar.com.my/news/story.asp?file=...3935&sec=nation

The MAS Group registered a loss after tax of RM171mil for the first quarter ended 31 March, a significant 29% reduction from the RM242mil loss for the same period last year...

"We cut unprofitable routes especially in long haul where yields were low. This helped us to immediately improve our Revenue per Available Seat Kilometre (RASK') performance year-on-year.

"On the cost side, we lowered our fuel bill with improved consumption as a result of newer fuel-efficient aircraft."

He said improved cost management was also seen for non-fuel variable costs, although currently they were unable to address fixed costs.

The new A380 aircrafts are supposed to be fuel-efficient, provided that the load factor is high. But, can MAS keep the load factor high

I defines it negative value
.If someone put 100K 10 years ago into this stock, I wonder how much the money will be left.

Any Idea how MAS-CG will go ?

I just sold my share MAS 2 lot as I see this company take time to recover. Since already a lost then might well use the money to gain some where to counter losses.

the person put in 100k categories his worse investment.

MAS is now rusted metal... sell it of to avoid further loss...

Maybe Whole MAS let Tony Fernades Handle will do. Whole nation proud and More good than Harm.

This is the 2nd time need fund to turn around.

MAS NTA is below 30 sen tax payers suffer if cont helping them

What is NTA?

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Added on July 16, 2012, 8:26 pmNeed to borrow money from goverment I guess. Anyway,I bought 2 lot mas at RM1.90 which mean RM3,800.Sell RM1.13.Haiz,since it will take long time to recover.might well sell n take money invest other area more profitable.

This post has been edited by Seremban_2: Jul 16 2012, 08:26 PM

Accounting

Net Tangible Assets or Net Asset Value ie. total liabilities less total assets/issued shares

As reported for Q1, the Net asset is now 0.28 sen down from 0.32 sen

This means if MAS cannot sustain or gov final bail out, this is the net value of the company as at Q1.

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Added on July 16, 2012, 8:54 pmTypo should be assets less liabilities/issued shs

This post has been edited by wing13: Jul 16 2012, 08:54 PM

Sometime think this company was lock into +tive NTA -> make loss until -tive NTA -> right issue -> +tive NTA... history did repeat itself in this company, and we have to continue paying them to fly.... haiz...

Cheap for gov to privatise now, few years later list again at few dollars ...

Great ftt..........that what I was thinking about too.

what is the point privatise it? it was a rusted metals ....... listed means can korek from the public!!! by listing Right issue / bonds / borrow ...... public (investor) money bailout and public funds also can help ..... not good meh?

Even worst, then no one will know how much it sucks from rakyat... Maybe they will buy mineral water at the price of petrol... or higher...
This is a dead loop, unless someone with will really going to revamp that.

Rumour: AJ resigning - How true?

He suppose to resign long ago........if he is in foreign company......straight sack. Just like Roman Abramovich sack AVB.

why?

wasn't he was hired to turn around the distress ship? why sack now?

This is the second times in as many days that I heard this news. When many people talk about it rumors can turn to be true.
MAS problems to me are caused by the poliicians.. so politician must solved it otherwise it will be a big liability to the ruling goverment.
Can the goverment just sideline MAS.. the answer is a big NO.
1. MAS have 20K staff whichmay have another 10 voters to each.
2. MAS bring in RM6 bill direct foreign exchange and may be twice that amount for the indirect foreign exchange.
2. MAS is a national pride as well.
The AJ mistake is just that he had not cleared enough when MAS declared 2.5 Bill loss in the 4 Q last year. He should had declared 3 bill or so loss so that at least he will not have to declare losses for some time.
They have to reduce ousourcing and consider more in house so that they can control the cost ??? ( For the same reason they had gone for out sourcing a few years back and I think that they have lopst control.)

Yeah bro, the problem with politicians, the never think like we do, another specie....

Long long way to go for MAS to rekindle the old days.

this stock look hopeless

I have no idea with MAS problem. I just buy the share and hoping to go up. But it went another way which mean down.

MAS problem is predictable. Last time government help MAS then MAS ok later come back the same problem. need cash to turn around.

I remember Air Asia RM1.40 and now.

No money to buy when it was 80sen.

yes, this is too politician company................

they report loss, no business, wanna cut flight.................but in the same time they buy in new plane

con our ppl's money only

this is their atm can withdraw and bank in any time .....

Is it worth to go in at current price?

The par value is RM1.

Don't think govt will let it bungkus.

If you have $$$ to spare, buy and keep for min 2 to 3 years.

May be they can get Idris Jala back there to fix it?

Bro, look at its NTA.........

bought it at 1.09.
I don't think the counter is going to fly in the near future.. Just buying to keep.

In the other hand, i dont think gov will let it bungkus also. it's thier face lol

any dividend payouts for this counter? if no appreciation, no div, i think no point holding too..

Just hold if u r not full time invester.....

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Added on July 27, 2012, 8:20 pmEPF is reducing MAS share ........

This post has been edited by TunYau: Jul 27 2012, 08:20 PM

Thank you for the info but i think it will end up like proton. Sell to syed mokhtar again.

RM1.05 today if not mistaken will wait it fall till RM1.00 and wait till after election that rumored will fall on september.

affin's tp for mas = rm0.85

Undervalued? This company has no value. Their service can be considered pretty high, but they dont know how to run a business. It has been proven time and time again. Personally wouldnt touch it with a barge pole.

No dividend?

hehehehe

2 Brokers upgrade to buy OSK & Maybank.....

What do you mean? Meaning OSK & Maybank Say Buy call.

Yeap upgrade to buy......

mas= too risky

wish i had lotsa bullet to influence the market lol

Life itself is a risk.....

Maybank gives a BUY call for MAS...

What do you think


Attached File(s)
 MAS_RP_20121009_MIB_2062.pdf ( 152.84k ) Number of downloads: 41

MAS still doable? i really doubt unless pour money from our coffer again ........

Seems to be working...

MAS

anyone can explain in layman term what the recent proposal means?

Oh Yeah

Maybank & OSK give buy call with target price RM 1.20

Lets see what they write now.

Do u notice what is happening today?
MAS down to RM0.86 now

laosai teruk. wondering why..

Capital reduction! Reduce PAR VALUE to 10 sen!!!

@@ waiting for analyst report on the new target price. lol.

they not gonna return the capital right? they gonna use it to reduce the losses....

i check the stock info. previously PAR value is RM1.

hm...

Par Value reduced from 1.00 to 0.10.
Means share will split 10 times,
From current price 84cents to 8.4cents.
I trust is good and potential upside.

Compared it with Digi, after split, it
Rocketed sky high.

YES! To set off partly of MAS accumulated LOSSES!

Yesterday report, MAS profit 37M after tax. The killing point is, they proposed par value reduction from RM1 to RM0.1.

Just wait for it to drop to 0.50 . I think it will happen sooner than later

Digi is share split and capital repayment,
and it is totally not the same with capital reduction.

Capital reduction /= capital repayment.

it's not share splt... no effect on ur holdings...

par value reduction is merely changes in b/s figures only..

This post has been edited by yong417: Nov 28 2012, 11:45 AM

proposed par value reduction from RM1 to RM0.1 ,means if i got RM2000 become RM200 only??

ya noob here too

what the effect of par value reduce to 0.1 from 1.0 ?

Not like that.
It is happening on account book.
While your x number of shares remain the same.
Last time you have 1000 shares at RM1 par value, now become 1000 shares at Rm0.10 par value.

Par value is the money paid/injected to issue the share previously.

then if 1000 shares at 0.1 par value, if they sell it at 90 cent, it still is RM900 right ?

What you trying to ask?

I just wanna ask what is the different for existing holder if the par value drop from 1.0 to 0.1

Basically no diff, that's just some kind of information to the shareholder that: We had loss 90% of the capital that you invest in our company, and seems like we are not going to earn them back, as we are in need of fresh fund now, we have to admit that and write them off so we can call you to inject more money under the regulation that govern the account.

As shareholder, you might need to prepare for the rights call, the rights price can start from RM0.10 (rights normally same or higher than PAR value, unless that's 2 call rights). Ratio & price will be determine later (actually also can roughly estimate, get the market value, divided by the intended capital need to be raise which is RM3.1b, then you will see roughly how much per share, that should be more or less the money need to be prepared).

Their Q3 performance were mainly boosted from non-operational gain. Which is under Other Comprehensive Income(OCI) gain hedging on instrument, revaluation of PPE. It doesnt shown that it has enlarged its market share and customer base. The right issue sure will be subscribed by its controlling shareholders which is khazanah. indrectly from taxpayer pocket. I dont think the performance can be sustained in long run.

I wonder why they dont reappoint Idris Jala to the office since he was successful in 2005 corporate turnaround of MAS.

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Added on November 28, 2012, 6:03 pmCapital restructuring wont affect shareholders interest. It only strengthen the balance sheet or ake it more beautiful. The equity portion of balance sheet will be still the same. Some part of ordinary share capital has been transferred to retained earnings reserve to cover the losses. This is because the company keep making losses and have negative retained earnings reserve (accumulated loss). The debt investor wont provide more finance since the it is a junk bond(high gearing with high risk, may not meet the payment of interest). Equity investor wont subscribe for any new shares since the large negative balance of retained earnings reserve has to be cleared first then can pay dividend according to the law.

Therefore, it given promising prospect to its stakeholders such as shareholders and debtholders that they will earn money in upcoming quarter if they have the adequate finance. But in order to generate the future earnings, it needs more finance. Sometimes it will ask for right issue, or convince existing loan provider to convert their interest to equity(ordinary shares) or borrow more money from them. (Sometimes those stakeholders has to abandon some of their interest to allow the restructuring go ahead) As equity investors are the last getting the residual interest of the entity (CA ss292)

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Added on November 28, 2012, 6:08 pmhttp://www.indiankanoon.org/doc/1507106/

here has more detailed explanation regarding financing of a company works =)

This post has been edited by bursalchemy: Nov 28 2012, 06:08 PM

It is not sometimes, but a lot of time....

Capital restructuring which involved capital reduction normally associated with Right issue afterwards.
By then, shareholders need to fork out money afterwards, if not their existing shareholding will be diluted.

So, either need to fork out money or seeing existing stake being diluted.

in term of fundamental calculation, its big different.
your % of the shareholding will be diluted to 1/10 after the right issue. Let say you hold 40% of share, after the right issue you will become 4% only.

This a big bad news to small share holder

Khazanah maybe will buy over all the additional share, if they hold 60% share now..........after the buyover, they will become 96% shareholder

Its totally different with Digi share split. For digi, before or after share split, you still hold the same % of shareholding. Because the additional share will distribute to all shareholder.
For MAS, sorry lar they will not distribute to you

This company is gone case. Try to fly popular regional routes then compares with available foreign airlines and AirAsia you will know what I mean. Miles apart compares with foreign airlines. Even AirAsia better beverages and new A320s are much comfortable.

Who want to fly MAS again if have choice to choose? How to compete in international market with crap beverages that they serve and old and small hired planes that they fly?

Service from bad to worst over few years. Cost cutting exercise in the expense of customer satisfaction. How to survive?

wont take up the right issue sure will dilute the interest since right issue price usually cheaper than market price. Theoritical ex-price (TERP) wise. however, market is irrational. Finance knowledge dont apply much in stock market. such as efficinet market hypothesis, M&M theory are just bullshit. nothing applicable.

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Added on November 28, 2012, 6:40 pmWe still not sure how the new entrance of Malindo will affect MAS market share. Even existing rival of Airasia he also cant compete ady.

The battle like 3 kingdom, Airasia is 魏国，malindo is 蜀国，MAS is 吴国. They have to keep battle and ensure all of them survive to avoid stiff competition. 生生相息.

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Added on November 28, 2012, 6:45 pmMAS need a 周瑜 to run the board.

This post has been edited by bursalchemy: Nov 28 2012, 06:45 PM

Never know you are Chinese... But the situation might be slightly different, MAS is the one that can 挟天子以令天下, we all victim...

im just a 草民。。。
waiting to be slaughthered.

What will happen tomorrow ? It it rebounce ?

MAS is a bumiputra subsidy company of repeatedly failed history of mismanagement and milked many times by cronies just like bank Bumiputra waiting to disappear. Its workers are there because they are mainly of certain race and Najib wants their votes to capture Selangor. They terminated the last best opportunity when Airasia attempted to revamp their management recently.With the open sky policy beginning in 2015, MAS will be staring at its waterloo. Now would you put your money on the rights issues when management does not changed for the better, where politician meddled with management? Obviously your rights ringgit will be burnt so let the government /GLCs subscribed to it.

So I am not surprised the shares dived to 80 sen today on RM3.2 bill of proposed rights.

This post has been edited by alenac: Nov 28 2012, 09:30 PM

I would speculate MAS will Joint venture or form a strategic alliance with Malindo to attack Airasia strong bases presence in Souteast asia market? Just like how 西蜀 alliance with 东吴 in 赤壁。

Good companies with excellent team work would not want to carry passengers and excess baggage.

thanks for ur info

let say if the current price did not drop, this will only affect the dividen payout?

noob here.

Bcoz ordinary share capital is non distributable reserve. It doesnt affect shareholders actually. Par value is nt important in valuation of shares.

Reduction in par value will only affect debtholder interest. MAS has to negotiate with its debtholder to accept the reduction since the guarantee of their loan principal has reduced. It has to check whether the creditor covenant has been breached.

Regarding dividend issue, it also wont affect. Management can decide divd based on %of share capital or based on cents/share. It is nt compulsory but voluntary. Up to the management want to distribute how much.

The piece of cake is still the same size. But it is cut smaller. :-)

LOL, dividend?

At the moment, the company has a plan to issue right issue to fund the company need, aka seeking money from shareholders, and you expect a dividend?

If a company can give dividend, generally you won't see capital reduction in the first place.
Capital reduction normally associated with company made losses or accumulated retained losses in the account book.

Reduction in par Value definitely a very bad things to retail investor.

Why MAS drop so much before the news announced?You still can see so many stubborn investor still hope MAS can turn around.

Yes, It doesn't change the value,but at least it does change the perception on some investor to accept MAS long run losses already eat up large proportion of their original capital.It just a matter of when it writes down their capital in account book.

my view is still many people still have wrong perception on the value, or just speculate they can turn around before the reduction in par value.

Just my view

This post has been edited by foofoosasa: Nov 29 2012, 03:30 PM

MAS has accumulated losses of slightly above 8 bill. So much for the many attempts in the past including Idris Jala to recover from losses. So the next best alternative is to go for capital reduction then rights issue and start anew. So the pricing for the rights according to The Star today is around 60 sen for 10 sen per share par value. Effectively, it will create a share premium account that is 5 times more than its share capital. So far so good. But the issue is that will the rights be priced competatively and based on forward PE of how much? I would say should be not be more than Airasia's 14. Or given it's lousy historical earning's record it should be below 10 as an added attraction for existing shareholders to subscribe for the rights and sustained it's share price above 60 sen, of course if 60 sen is the reasonable price to forward P/e. Or else, the scenerio of Asstro IPO will be replayed.

I observed EPF keep dumping MAS shares since last week. That is an indication of either bad result or bad news is coming.

If the indicative price of right issue is around 60 sen.then EPF is anticipating a drop to 60 sen in the mid term. So dump first and buy back later.

Looking at their balance sheet, I found it is funny they ask for 60 cents.
Their shares not even worth 30cents.

If based on 14, probably they have to pay the shareholders and give them free shares at the same time...

MAS up 4sen so far. ANy comment?

it will stagnate ~0.80-0.90, keep ur eyes on EPF activities, i think im jumping in for a long

I think it is heading for 0.50.
It look like they are going to have RIWA 5 for 1 at 0.20
This is just my guess.

But current price does not support your statement above. Who is buying and who is supporting the stock from falling ?

I m TA noob, but I told my colleague when the share price RM1.9x

"Look at the price chart, the big player will goreng up a bit till stagnant at RM1.9x to attract ppl jump in"
"the big player start to release at RM1.9x"
"after a period of time, share price suddenly drop drastically untill certain level"
"stagnant at that level a moment to let the big player release"
"after a while, share price goreng up, but below RM1.90, so the group who bought RM1.9x cant release"
"more and more ppl felt it rebound then jump in again"

MAS keep repeat this trend since long time ago, pathetic to who greedy small investor