Dear Investor,
You can apply AirAsia X IPO through Bumiputera Special shares through MITI and Closing date for Online Application : 5th November 2012. Check MITI Website to apply.

Price?

miti is for bumi applicant rite ?

Yes.

how 's the prospect?

regards

Is this another trap by Ananda? The man behind the shadow for AAX..

No prospectus but the application is out via MITI ???.... Friends, this time better study the prospectus first before apply...

Dont let urself drown for second time...

I am traumatized after astro.

Is Ananda is behind AirAsia X? I thought Tony Fernandes.

i guess, skip this.

Tony is the face.... While ananda is the shadow.. He is one of AAX investors..

Does AAX sell liquor in their flights?

got prospectus ?

I see, then better to wait for the prospectus & more details .

Tony Fernandes and Ananda?
Two big sharks here, dangerous..

Big shark is ok for me... But anaconda is the problem here... This species is very dangerous 'lidah bercabang 2', never trust any counter belong to him.... Even though he is just a shadow here.. Think 1000x...

The last time I was in one.. they sell beer.. counted?

that means this is a non syariah compliance counter just like astro. big player like LTH wont invest in this.

For that reason I Must think twice before jump in..

I think i will skip and boycott any counter belong to Anandeyy and his species.... Will change and cancel my maxis broadband and phone line as well.... Dont want to support his business anymore....

Not twice my friend, think 1000 times before get involve....

haiya.. anacondo.. why do like this to us.

haha you now what...i am seriuosly considering to unsubcribe my astro too.

zitis, please support TM and celcom.

Yup! Will change to celcom..... Lets boycott his counter and his business as well!....

KNN MCB this AnaConda behind this as well!

What is the indicative price for AAX? RM2.88?

more risky more greater income.. more fun to apply an iPO.. sudah apply MITI for AIRASIA X.. malakof lama sangat.

if aax rm2.88 abit pricey wo

what indicative price u use?

i follow.

i and my boss try to enter thru miti for this ipo..astro,buy 2.74 & sell 2.84..astro the best!!,make profit 10sen,until now boss belanja lunch..thumbs up to AK..

Very timely n good advices...Do alot of research pls...Read the EDGE what it has got to say...listen to insiders professional first..

MAS also serve beer, liquor and wine...also how?

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Added on November 1, 2012, 12:59 pmDoes it matter who is behind this? Astro failed because of overvaluation, if AAX is properly valued with growth story (and did not strip out too much money) then it is fair game mah.

Astro is deemed overvalue because :-
1. RM 1 billion cash taken out before IPO, resulting in negative NTA
2. High growth India and Indonesia unit taken out
3. Valued at PE 30x, DY 1%
4. no growth prospect, market saturated

All these is clearly written in the prospectus...anyway must understand the IPO process, IPO is used for the owners to cash out thier investment by selling to the public, the owners will have no incentive to sell cheap.

lets see if AAX holds the same water.. when the prospectus comes up, will give it a good review.

This post has been edited by gark: Nov 1 2012, 01:05 PM

for me, AAX is better BUY than ASTRO. Love the TONY's factor which drives AirA upwards now.

I believe AAX will always shadowed AirA.

really?? 2.88... that's a bit pricey... dont u think???

i dont want ,,... how u say it in malay proverb.. hhmmm ,,,

banana to fruit 2 times???

ARSETHROW really got me think about todays IPO....

wah this IPO very special one.

No draf prospectus but already come out in MITI

rushing for listing

me too think the same thing...

something fishy is going on... better becareful..

also the IPO would be price at maximum level.

if not mistaken, when airasia IPO in 2004, they price at 1.40. after all the book-building process etc. the retail price set at 1.16 & institutional at 1.25

old days they reduce the price, but nowdays where got reduce price so low. if airasia ipo done now, i think 1.40 is final price or maybe they offer higher than 1.40.

just my opinion.

what u guys said made me think twice about this IPO, just wait and see for this one.

anyway, keep sharing, I will wait for the prospectus before made my decision.

thanks guys.

I am always skeptical as to whether the concept of budget airlines can be applied to long haul flight. AAX has terminated the services to Europe and several cities in India.

For a start, unlike AA, meal is not optional in AAX; secondly, the seats have larger legroom.

One tactic used by AA is this: when an planes fly from KL to say, Bangkok, it will return immediately. AA thereby saves on hotel bills and meal allowance for the pilots and cabin crew. But this tactic is not applicable for flights from KL to Europe.

Hmm. " Rushing" is the word... why in the rush, thought next year..as reported..if I am not mistaken !.

thru miti also taking 2 -3 month to open to retail.. so consider okeylah.. just compare with astro thru miti

I believe the cancellation is due to lost of landing rights, this part u need both government green light. I could be wrong in this case

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Added on November 1, 2012, 4:33 pmI believe the cancellation is due to lost of landing rights, this part u need both government green light. I could be wrong in this case

This post has been edited by yhtan: Nov 1 2012, 04:33 PM

okay, after looking at astro ipo as reference, i can say that draf prospectus will be out by end of this month, listing will be around end jan or mid feb 2013.

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Added on November 1, 2012, 4:43 pmcorrect what you say.

my mistake

This post has been edited by davinz18: Nov 1 2012, 04:43 PM

Astro ...miti open on 8/8, close 15/8, result 20/9, then open to public.

itu astro.. maybe airasia x taking much longer

somebody please advice indicative price.... tq

Listing next month - december.... Price 1.15 - 2.00

The prospectus will be out tomorrow on SC website.... Not end of this month..

really? thanks for the info

I take lots of AAX flights before.. so here is the comment...

1. AAX meal is optional and is 20%-30% higher priced than AA, more or less you are forced to buy unless you wanna starve on a 12 hour flight (but i saw got people bring 'roti'). Also they sell entertainment(very less buyer) and comfort kit (some buyer). Baggage fee is also higher.
2. Yes AAX incur hotel cost and meal allowance for their staff... why do you think so many tune hotels opening up everywhere. Where do you think the staff have to stay if there is Tune hotel in town?
3. Not true AAX get more legroom, feel like more or less same legroom as AA flights...

This post has been edited by gark: Nov 1 2012, 08:03 PM

Thanks for ur info.. Never use AA and AAX before.... Always with MAS and firefly

AAX just cant compete with mas for long haul destination... furthermore mas has joined the oneworld,.. whereas aax has closed some of their routes...

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Added on November 1, 2012, 8:35 pmsome points to ponder...

This post has been edited by arcadicus: Nov 1 2012, 08:35 PM

You must be rich
The last time I flew with MAS was on company money

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Added on November 1, 2012, 9:00 pmI thought AAX's seats can be reclined? Saw it in the newspaper...

This post has been edited by river.sand: Nov 1 2012, 09:00 PM

if im not mistaken thats for the so-called 'first class' seats...

the economy class seats are just like AA seats....

economy class still can recline with 20 angle....

miti is for bumi rite ?

http://www.sc.com.my/main.asp?pageid=1230&...=&linkid=&type=

prospectus released

AsiaX reported 1H2012 result a pretax loss.

hahaha!! another ARSETHROW in the making....

For 2011 also loss..

no wonder they closed some of their routes.... better stay faaaarrrr away from this IPO...

I can see that their biggest expenditure is Aircraft fuel. I think as long as fuel price still high, their account may be still in red.

This post has been edited by GHz: Nov 1 2012, 10:46 PM

fuel price is not really that high atm??? correct me if im wrong

I think it is higher when compare to 2 years ago when AirasiaX making profit. Just imagine what happen if fuel price rise much further.

i got this from news online:

"A recent report by International Air Transport Association said, “Jet fuel prices increased further in August 2012, returning to the highs seen throughout 2011, after some respite during the second quarter."

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Added on November 1, 2012, 10:56 pmbad news for AAX

This post has been edited by xuexueli: Nov 1 2012, 10:56 PM

So far from the info gathered here,the verdict is not in favour..any objections.

I think the key point here is whether the cornerstone investors are allowed to sell immediately like astro? if yes, dont buy it. its a trap

couldnt find the info in prospectus though..

looks like astro 2.0

better skipped this ipo

also airasia didn't exercise the call option on airasia x like in tune ins (they say want to focus on short haul).

Maybe their tactic would be the same like ASTHROW, of coz same owner rite.... "looking for long term investors"...trap.....

Dont become like me! Now still trap inside ASTHROW!

Better invest on other counter or wait for next IPO... Malakoff, Westports + Johorport......

This post has been edited by zitis: Nov 2 2012, 02:22 AM

Ermmmm.... Not becoz of rich, but i like MAS and firefly based on their superb sevice, hospitality and comfort....

My friend said AA and AAX flight attendants are similar to sales girl... Am i rite?

This post has been edited by zitis: Nov 2 2012, 02:41 AM

Can't comment on the salesgirl remark, but I don't like the All Blacks uniform of the male flight attendants.

Women look slimmer when they wear black, but men?

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Added on November 2, 2012, 9:18 amI think the value of AAX lies in its feeding of AA. For example, Aussies fly on AAX from Gold Coast to KUL, then proceed to Langkawi or Phuket on AA.

Tony is happy so long as the loss of AAX is offset by the gain on AA. But why should we invest in AAX?

This post has been edited by river.sand: Nov 2 2012, 09:18 AM

Agree.

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Added on November 2, 2012, 9:38 amOnce beaten , Twice shy.

This post has been edited by sarbuftaim: Nov 2 2012, 09:38 AM

They already knew that we knew that tactics though...they will not going to that direction if they are clever...expect some sweeteners ahead since Malindo are all over the papers

if expensive, i skip. scared became like astros

maybe first day sweetener (chicken feed),,... just like ARSETHROW...

Based on : http://www.sc.com.my/main.asp?pageid=1230&...=&linkid=&type=

Its Shariah Compliance, means have big boys buying.

so don't be so NEGATIVE on AAX like ASTRERUK

ARSETHROW.... CHICKEN FEED... nice one....

I belive this is much better than ASTERUK

Look at total shares for PUBLIC ballot, its just 9% (71million shares out of 789 million shares)

MITI = 33% of total shares.

cornerstone? got lock-up period?

thats the most important thing... otherwise gonna end up just like arsethrow

That is based on exposure. Nothing solid as at now. They might have.

AAX Summary... for the benefit of forumers

Fixed Asset = 2.16 billion (including 700 mil in tax asset and deposits)
Current Asset = 224 mil (only 24 mil cash)
Current liability = 953 mil (including 464 mil short term borrowing)
Non-Current liability = 917 mil long term borrowing
NTA = RM 0.35/share
Debt/Equity Ratio = 3.61

2009 EPS = RM 0.66/share
2010 EPS = RM 0.63/share
2011 EPS = RM -0.36/share
2012 EPS (Proforma) = RM -0.22/share

2009 and 2010 gain is mostly in deferred taxation.. and not based on performance

Operational Profit/loss

2009 = LOSS RM 31 mil
2010 = PROFIT RM 7 mil
2011 = LOSS 60 mil
2012 (proforma) = Loss 10 mil

Now looking at how much future profit AAX can make

Gross Margin

2009 = 3.4%
2010 = 12.7%
2011 = 9%
2012 = 15.4%

Please note that revenue growth has been more or less stagnant in 2011 to 2012.
2009 = 8 planes
2010= 11 planes
2011 = 11 planes
2012 = 9 planes ( ) , 2 plane classified as asset for sale
Future = 2 more plane on order

Revenue per ASK is stagnant 2009-2012, cost per ASK also stagnant 2009-2012, basically cost of fuel is countered by fuel surcharge...

Now lets see what the pricing/share will be

This post has been edited by gark: Nov 2 2012, 10:58 AM

Looks crap. But when you think of it, running an airline is not a walk in the park. Huge amount of money must be spent to lease/purchase the planes. Enormous upfront cost.

Compared to MAS, this looks good.

tq gark

wonder what is the price..........

Thank you gark. Great Effort.

How do you get work out the Debt/Equity to be 3.61?

On page 256 of the prospectus:
Total borrowings = 1382 million
Shareholders' equity = 518 million

=> Debt/Equity = 2.67

D/E above 2.0 is common among airlines, I think...

Debt equity ratio = (current liability +non-current liability)/equity = (953 mil+917 mil)/518 mil = 3.61

No D/E ratio above 2 is not common in airlines... AA already super leveraged D/E ratio is only 1.95

This post has been edited by gark: Nov 2 2012, 12:09 PM

I think fuel surcharge does not enough to cover for fuel cost increase.

If look at how much they collect fuel surcharge in 2011, it is only 44 million.

On the other hand fuel cost increase by 421million from 2010 to 2011. From 597million to 1,018 million.

Yes they maybe fly more as we can see the increase in revenue but revenue increase only 42% compare to fuel cost increase by 70% in the same period

Yes you are right.. but we have to see the overall picture.. thats is why we commonly see the ASK cost.
ASK = Available Seat Kilometer, means total cost or revenue divided by number of seats and km traveled.

If you see this the cost increase in fuel has been countered by lowering the non-fuel ASK cost, it means they are using other method to counter rising fuel cost such as shorter haul flights and/or higher frequency flights. In maintaining ASK even though fuel cost is up, AAX is doing a great job...

This post has been edited by gark: Nov 2 2012, 12:18 PM

only 9% for public means major players of this share are cornerstones right?

thus it is important to know who they are and if there is any lock up period.

Oh, there are several definitions for D/E. I often use the following two

D/E = (long term borrowings)/equity
D/E = (long term borrowings + short term borrowings)/equity

AA's D/E used to be higher, but they have progressively reduced it

This post has been edited by river.sand: Nov 2 2012, 12:51 PM

If like that, why they are in red in 2011 & 2012 ?

cause ... price < cost All those cheap flight offer they advertise all rugi one...

LOL .

That's very bad management. Advertise cheap flight until company losing money for years.

For long haul flights, the fuel tank of the aircraft has to be loaded up. But here is the problem: Jet fuel add to the weight of the aircraft, which in turn affects fuel economy.

SIA is also going to shelved its non-stop flights to LAX and New York.

This post has been edited by river.sand: Nov 2 2012, 03:24 PM

Thats why they want to be listed A.S.A.P..... So they can use our money to cover those red zone..

Easy and fast way to collect monies...

This post has been edited by zitis: Nov 2 2012, 03:22 PM