Ganesh Sahathevan

Maybank's "stabilization" of  Air Asia X's share price, which has not moved beyond the RM 1.25 IPO price , expires in about 2 weeks. AAX's Bursa filings make  clear that Maybank's support is what keeps the price at even RM 1.25, thus raising the inevitable :what happens in 2 weeks , or less  , when the price is no longer supported? Given recent past valuations of the company, based on transactions by company insiders (see previous posting below) , and after making some rough and ready adjustments for the IPO proceeds, but bearing in mind that share price is a function of earnings, it does appear that by Tony Fernandes's own reckoning AAX shares are worth only 5-70 sen (ie 40-50% of current price). Based on the price Richard Branson asked for his shares, AAX is only worth 25-40 sen per share. Friday, June 14, 2013 Tony Fernandes says AAX is a RM 3.1 B company, that was worth RM 1.25 B in 2008, and which plummeted in value to RM 660 ...

Reported in THE STAR : THE National Heritage Department has no plans to nominate the iconic Batu Caves to be listed as a World Heritage Site as it does not meet the criteria. Batu Caves does not fulfill even one criterion out of the 10 listed,’’ she said. To be included on the World Heritage List, sites must be of outstanding universal value and meet at least one out of ten selection criteria. The criteria for selection is listed below.Readers are invited to comment on which of 10 applies to Batu Caves. This writer can already see that a number of criterion within which Batu Caves would fall, but then, this writer does not possess the Malaysian National Heritage Department's level of literacy: The Criteria for Selection To be included on the World Heritage List, sites must be of outstanding universal value and meet at least one out of ten selection criteria. These criteria are explained in the Operational Guidelines for the Implementation of the World Heritage Convention wh...

Having become something of an Internet sensation lately, oil company PEXCO's  CEO has amended  his profile in an attempt to wish away his new found fame.    Mr Guest has gone from this: Last year in Malaysia, P exco Sarawak signed 4 PSCs for the large area west of the prolific Central Luconia Platform where there is more than 35Tcf of recoverable gas. The area covers almost 25,000km2 and makes Pexco one of the largest acreage holders in Malaysia . To this: Last year in Malaysia, Pexco Sarawak signed 4 PSCs off west of the prolific Central Luconia Platform. The area covers ~25,000km2 and has been under-explored in recent decades .  Unfortunately for Mr Guest the older, less modest profile has been copied and pasted on a large number of websites, in at least three languages,  and reported in publications such as Singapore's Business Times. One feels some sympathy for the man, but then he  should have known better, given that his boss is the notorio...