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Tiger Airway : Another right issue soon?

L

lifeafter41

Alfrescian (Inf)
Asset
Went into SGX site to look at Tiger Air.
Understand the last right issue was done in April/Dec 2013 (total of 297mil was raised) saw on the site, 255mil has been disbursed

Saw on the query from SGX, on one reply as follow

Response
The Company had stated in its announcement of its audited financial results for the financial
year ended 31 March 2014 made on 2 May 2014 that, given uncertain market conditions, it
was reviewing its investment in Tigerair Mandala as part of its turnaround plan. The
Company continues to evaluate various strategy options with regard to this associate airline.
The Company is also considering various fund raising options to improve liquidity.
The Company is in preliminary stages of discussions on the abovementioned matters. No
definitive agreement has been signed at this time and there is no assurance of any particular
option progressing or discontinuing.

Understand full year loss for FY2014 is 222mil

Is anther right issue coming on soon. Will SIA be taking on if needed.
Is there a chance of Tiger Air turning around soon?. Or will it be throwing good money after bad.
 
G

gingerlyn

Alfrescian (Inf)
Asset
lifeafter41 said:
Went into SGX site to look at Tiger Air.
Understand the last right issue was done in April/Dec 2013 (total of 297mil was raised) saw on the site, 255mil has been disbursed

Saw on the query from SGX, on one reply as follow

Response
The Company had stated in its announcement of its audited financial results for the financial
year ended 31 March 2014 made on 2 May 2014 that, given uncertain market conditions, it
was reviewing its investment in Tigerair Mandala as part of its turnaround plan. The
Company continues to evaluate various strategy options with regard to this associate airline.
The Company is also considering various fund raising options to improve liquidity.
The Company is in preliminary stages of discussions on the abovementioned matters. No
definitive agreement has been signed at this time and there is no assurance of any particular
option progressing or discontinuing.

Understand full year loss for FY2014 is 222mil

Is anther right issue coming on soon. Will SIA be taking on if needed.
Is there a chance of Tiger Air turning around soon?. Or will it be throwing good money after bad.
Click to expand...

that means more of my cpf fund will be channeled into loss making tiger?
minimum sum will be increased to 1million?
 
L

lifeafter41

Alfrescian (Inf)
Asset
lifeafter41 said:
Went into SGX site to look at Tiger Air.
Understand the last right issue was done in April/Dec 2013 (total of 297mil was raised) saw on the site, 255mil has been disbursed

Saw on the query from SGX, on one reply as follow

Response
The Company had stated in its announcement of its audited financial results for the financial
year ended 31 March 2014 made on 2 May 2014 that, given uncertain market conditions, it
was reviewing its investment in Tigerair Mandala as part of its turnaround plan. The
Company continues to evaluate various strategy options with regard to this associate airline.
The Company is also considering various fund raising options to improve liquidity.
The Company is in preliminary stages of discussions on the abovementioned matters. No
definitive agreement has been signed at this time and there is no assurance of any particular
option progressing or discontinuing.

Understand full year loss for FY2014 is 222mil

Is anther right issue coming on soon. Will SIA be taking on if needed.
Is there a chance of Tiger Air turning around soon?. Or will it be throwing good money after bad.
Click to expand...

Tigerairway lost S$65Million in 1QFY15 (1st Quarter loss of S$65Million) as per result in SGX.
Below is FY14 remuneration of the top executives as per 2014 Annual report

The level and mix of the remuneration earned in FY14 by the CEO is as follows:
name of executive
remuneration
$
base salary
(%)
performance
based bonus
(%)
other
benefits
(%)
LTIP awards
(%)
Koay Peng Yen (Group CEO)(1) 2,273,000
(1) Part of Mr Koay Peng Yen’s LTIP awards for FY14 are based on contractual requirements.
The next five top key executives of the Company in bands of $250,000 are set out below:
name of executive
remuneration
band
$
base salary
(%)
performance
based bonus
(%)
other
benefits
(%)
LTIP awards
(%)
Chin Sak Hin(1) 500,001 – 750,000
Joyce Fong 500,001 – 750,000
Ho Yuen Sang(2) 500,001 – 750,000
Alexander Knigge 500,001 – 750,000
Khushi Ram(3) 250,001 – 500,000

Pay should be cut to S$1 till turnaround.
What do forrummers think?
 
L

lifeafter41

Alfrescian (Inf)
Asset
SNTCK said:
losses 61 Million more than analyst expects

take care!
Click to expand...

No, don't own any tiger air shares. Though almost at the point of listing.
Anyway, they have been losing money at least for the last few quarters.
Pay is from 250k to 2.2 mil for Top executive team.
I would like to apply for it if the position is opened and run tiger air.
Loss more then S$280 mil still around.
Frankly looking at the business model of the budget airlines, I am not sure it is going to be making money anytime soon, with or without top executive team.

Not when tickets can be as low as 1 buck and fuel cost is 47% of revenue.
 
Last edited:
SNTCK

SNTCK

Alfrescian
Loyal
lifeafter41 said:
No, don't own any tiger air shares. Though almost at the point of listing.
Anyway, they have been losing money at least for the last five quarters.
Pay is from 250k to 2.2 mil for CEO.
I would like to apply for it if the position is opened and run tiger air.
Loss more then S$280 mil still around.
Frankly looking at the business model of the budget airlines, I am not sure it is going to be making money anytime soon, with or without 2.2 kk CEO and top executive team.

Not when tickets can be as low as 1 buck and fuel cost is 47% of revenue.
Click to expand...

ok, it is time for you to sleep. good night!
 
L

lifeafter41

Alfrescian (Inf)
Asset
lifeafter41 said:
Went into SGX site to look at Tiger Air.
Understand the last right issue was done in April/Dec 2013 (total of 297mil was raised) saw on the site, 255mil has been disbursed

Saw on the query from SGX, on one reply as follow

Response
The Company had stated in its announcement of its audited financial results for the financial
year ended 31 March 2014 made on 2 May 2014 that, given uncertain market conditions, it
was reviewing its investment in Tigerair Mandala as part of its turnaround plan. The
Company continues to evaluate various strategy options with regard to this associate airline.
The Company is also considering various fund raising options to improve liquidity.
The Company is in preliminary stages of discussions on the abovementioned matters. No
definitive agreement has been signed at this time and there is no assurance of any particular
option progressing or discontinuing.

Understand full year loss for FY2014 is 222mil

Is anther right issue coming on soon. Will SIA be taking on if needed.
Is there a chance of Tiger Air turning around soon?. Or will it be throwing good money after bad.
Click to expand...

Just saw on Saturday 11 Oct 2014 ST, Tigerairway looking to raise funds soon.

Right issue on the line soon?.
Will you subscribe if you own it?.
 
J

johnny333

Alfrescian (Inf)
Asset
lifeafter41 said:
Just saw on Saturday 11 Oct 2014 ST, Tigerairway looking to raise funds soon.

Right issue on the line soon?.
Will you subscribe if you own it?.
Click to expand...



Recently one of the Malaysian company I had shares in had a rights issue because they wanted the $ to expand their business. As a current investor they offered me more shares at a discount from market prices. I decided to purchase all the shares that was offered to me. It is a profitable bank. The share price has gone up. Most important is that the $ is to be used for expansion.

Tiger has a track record of losses. The rights issues will probably be used to reward their over paid management. If you are a current shareholder the rights issue represent a dilution of the value of the shares.
Without dramatic changes to the management I doubt things will change so expect more losses.
 
U

uvwxyz

Alfrescian (Inf)
Asset
It is quite risky to touch their shares at the moment because of the long lasting effects of poor management decisions affecting the airline's profits or lack thereof. The rights issue if it happens will just create an overhang of shares. Can fly on their planes if you like but better avoid their stock.
 
The_Hypocrite

The_Hypocrite

Alfrescian (Inf)
Asset
There is huge potential for budget airlines,,but guess the pappies dont know how to get into the action despite the resources of the state backing it up
 
J

johnny333

Alfrescian (Inf)
Asset
uvwxyz said:
It is quite risky to touch their shares at the moment because of the long lasting effects of poor management decisions affecting the airline's profits or lack thereof. The rights issue if it happens will just create an overhang of shares. Can fly on their planes if you like but better avoid their stock.
Click to expand...


However do note that companies that are having money problems may decide to cut back on important things like maintenance.
 
L

lifeafter41

Alfrescian (Inf)
Asset
johnny333 said:
Recently one of the Malaysian company I had shares in had a rights issue because they wanted the $ to expand their business. As a current investor they offered me more shares at a discount from market prices. I decided to purchase all the shares that was offered to me. It is a profitable bank. The share price has gone up. Most important is that the $ is to be used for expansion.

Tiger has a track record of losses. The rights issues will probably be used to reward their over paid management. If you are a current shareholder the rights issue represent a dilution of the value of the shares.
Without dramatic changes to the management I doubt things will change so expect more losses.
Click to expand...

Yes, overpaid is the correct word.
Dramatic changes to Management?. If today I drawing 2kk or 500k, die die also stay on till kena kicked out.
做一年拾一年。
 
syed putra

syed putra

Alfrescian
Loyal
uvwxyz said:
Looks like Air Asia is the only budget airline in this region that is making money.
Click to expand...

We still dunno if lion air is making money or not as its not listed. Many did not realize that lion air is as big as airasia but do their business in stealth. They have local units in Malaysia and Thailand. And control Indonesia LCC business.
 
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