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Malaysia Airlines reports net income after tax of RM51m in Q4

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Published: Thursday February 28, 2013 MYT 5:15:00 PM Malaysia Airlines reports net income after tax of RM51m in Q4

 

 

KUALA LUMPUR: Malaysia Airlines (MAS) reported net income after tax (NIAT) of RM51mil for the fourth quarter ended Dec 31, 2012 compared with net loss of RM1.3bil a year ago.

MAS said for FY2012, its net loss of tax narrowed sharply to RM433mil from a net loss of RM2.52bil in FY2011.

"Without the one-off provisions amounting to RM1.09bil recorded in Q4, 2011, NIAT for the fourth quarter 2012 registered an improvement of RM233mil. For the full year 2012, there was an improvement in the results of RM1bil," it said.

Source: http://biz.thestar.com.my/news/story.asp?file=/2013/2/28/business/20130228171702&sec=business

Congrats to MH finally back to profitability! :)

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SHAH ALAM, Feb 28 (Bernama) -- Malaysia Airlines saw a significant reduction by RM2 billion in its losses for the financial year ended Dec 31, 2012, bringing it to a pre-tax loss of RM424.8 million from a pre-tax loss of RM2.51 billion in 2011.

 

However, the airline's revenue slipped to RM13.76 billion from RM13.9 billion previously.

 

Group Chief Executive Officer Ahmad Jauhari Yahya said the key contributor to the continued positive trend in the yearly financial performance at the operating level was the Route Rationalisation Programme which saw an overall six per cent reduction in available seat kilometre (ASK) over 2012.

 

MAS managed to reduce its fuel spending, which accounted for 38 per cent of expenditure, by nine per cent or RM518 million to RM5.33 billion during the financial year as the average price of the fuel remained high at an average of US$134 per barrel, he said during a media briefing here today on MAS financial results for 2012.

 

He said the airline's performance for the financial year ending Dec 31, 2013 would be better with a double digit growth as the airline was on growth trend.

 

"We will receive 18 new aircraft this year which mostly are for the replacement of our old aircraft. We are also looking to a couple of new routes in China and certain other countries," he said.

 

On the final quarter of the year reviewed, Ahmad Jauhari said it had achieved the best results for the airline since the launch of its business plan in 2011.

 

"We managed to record a profit in our last two quarters, a positive trend after recording losses in six quarterly results," he added.

 

For the first quarter performance ending March 31, 2013, Ahmad Jauhari was confident that MAS would post better results compared with the same quarter of last year despite expectations of a softer performance in the quarter.

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so acceleration in retiring old aircraft, fleet renewal and extensive rationalisation unprofitable routes really pay off for MH.. Hope they can sustain this for more quarters to come :D

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I hope so too! Good to see MH making it's way back into the black.

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Published: Thursday February 28, 2013 MYT 5:15:00 PM Malaysia Airlines reports net income after tax of RM51m in Q4

 

 

KUALA LUMPUR: Malaysia Airlines (MAS) reported net income after tax (NIAT) of RM51mil for the fourth quarter ended Dec 31, 2012 compared with net loss of RM1.3bil a year ago

 

 

 

I would love to see how much profits BRAHIM BADAWI made out of selling nasi lemak for 25 years to MAS through his catering company ....... probably double than that .........

 

:hi:

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Just another instance in MH's perpetual boom-bust cycle :)

I think even within the (short) period of time this forum has been in existence, the pattern has already been well established :)

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rm51million is really nothing to shout about and MH have lost far far more in the billions since its started and its profits are miniscule compared to its billion ringgit losses. And nothing said about repaying its mountainous debts.

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rm51million is really nothing to shout about and MH have lost far far more in the billions since its started and its profits are miniscule compared to its billion ringgit losses. And nothing said about repaying its mountainous debts.

For a company used to loss billions of dollar and manage to gain a profit tho' not significant is worth giving them a credit... :)

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For a company used to loss billions of dollar and manage to gain a profit tho' not significant is worth giving them a credit... :)

 

Yes, KUDOS to MH, KUDOS to AJ!

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A sudden dispute over MH's Q4 2012's result.

http://www.themalaysianinsider.com/sideviews/article/misleading-mas-results-edmund-lim/

 

Misleading MAS results ― Edmund Lim

APRIL 10, 2013

APRIL 10 ― The Malaysia Airlines fourth quarter results are misleading, to say the least. While the results look positive, on closer examination, it shows that the fourth quarter net profit of RM50 million was largely attributed to forex gains and lower impairment charges.

The impending rights issues are a massive disservice to Malaysians who have throughout the years been called upon to bear the burden of the bailing out MAS to the tune of billions. That’s a whole load of schools, hospitals and better service delivery lost in opportunity costs.

This latest “corporate restructuring” sees MAS requiring Khazanah Nasional to subscribe to the RM3.1 billion rights issue. As the largest shareholder, Khazanah will be forking out a whopping amount of taxpayers’ money to take up the offer.

That’s our money, good money, being thrown after bad money again.

This comes soon after Kumpulan Wang Persaraan, the nation’s pension fund, took up RM1 billion of sukuk issued by MAS. We should remember that the bonds were not guaranteed and carried a 6 per cent coupon rate. At those yields, one wonders why there wasn’t a long queue of foreign investors at the door.

We should not lose sight of the fact that both Khazanah and KWAP are the guardians of the Rakyat’s wealth. Whatever happened to reducing Government’s Role in Business (GRIB) that requires GLCs to divest stakes in companies once it hits a “trigger” price. Khazanahs entry price to MAS shares was approximately RM3. Does it hope that MAS will surpass that mark in the near term before it divests at a profit?

Interesting that the under the ETP, a key focus NKEA is reducing Government’s Role In Business (GRIB). That’s why we had Khazanah divesting IHH in monster IPO and selling its stake in Proton and Pharmaniaga. Looks like all this will be wasted on MAS.

As right thinking Malaysians, I think we have had enough of the shenanigans in MAS over the past 10 years at the tax payers’ expense.

Bottom-line is there is something not right with this rights issue.

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