AirAsia & AirAsia X Finally Come Together

 

After much delay, the acquisition of Capital A's aviation business by AirAsia X (AAX) will be completed soon.

AirAsia is undoubtedly a well-known aviation brand which makes Malaysian proud. After the acquisition is completed, is AAX at current share price of RM1.60+ undervalued or overvalued?

To recap, AAX will acquire AirAsia Aviation Group Limited (AAAGL) & AirAsia Berhad (AAB) from Capital A for RM3bil & RM3.8bil respectively.

AAAGL provides air transport service from the Philippines, Thailand, Indonesia & Cambodia, while AAB provides air transport service from Malaysia.

AAX itself provides medium to long-haul air transport service from Malaysia (& Thailand).

After this corporate exercise, AAX will become an attractive aviation group housing all AirAsia short, medium & long haul air travels.

However, AAX currently has a net current liabilities. How can it afford to swallow 2 companies valued at RM7.8bil combined?

Is It Safe to Bottom-Fish PTRANS?

There is one company who keeps breaking its record high net profits for 10 consecutive years since IPO listing in 2016. It even achieved profit growth in the year of 2020 disrupted by Covid-19.

It's not selling gloves or Covid-19 test kits or vaccines. It's not QL or Scientex either.

The company is Perak Transit Berhad (PTRANS) who operates bus terminals, provides public bus transport services & owns petrol stations which were supposed to be badly hit by Covid-19 lockdown.

Now it even achieves a fantastic feat of  9 consecutive quarters of record high net profits which seems to be sustainable going into the near future.

It is like a "dream company" that most fundamental investors would want to have in their portfolio.

Its magnificent share price run spoke for itself. It rallied from 30sen to over 85sen (both adjusted share price) within a few months in 2022.

However, after hovering around 70sen since Apr25, its share price took a sudden dive to 33.5sen on 22 Oct25, and keeps tumbling to 26.5sen now.

Most of its investors were caught off guard and suffered heavy loss.

Why did the share price of PTRANS fall so hard in the first place?

Can Insights Analytics Conquer West Malaysia?

 

Insights Analytics Berhad (IAB) made a successful debut in the ACE market on 27 Oct25.

Its share price opened at 62sen, which was 72% higher than its IPO 36sen and reached a height of 73sen. It closed at 65.5sen with an impressive 82% gain on day one.

On 7 Nov25, its share price has rallied to 81.5sen.

IAB is a Sarawak-based water technology solution provider established in 2003.

Its IPO price of 36sen seems reasonable with a PE ratio of 10.4 based on FYE2025 (ended Apr25) PAT of RM19mil and enlarged shares of 550mil after IPO.

However, there was a 175% jump in PAT from RM6.9mil in FY24 to RM19mil in FY25, which might make some investors cautious.

My Portfolio Oct25

Summary For October 2025

Portfolio @ End of Oct25

Following a decent September, my portfolio gained another 2% in October. However, YTD it's still in a loss of 4.4%.

Finally I sold all my MI shares after accompanying the company throughout its difficult year in 2022, when its share price plunged to RM1.00.

My paper loss in MI reached 50% at that point but I have a strong belief that it can bounce back.

Its share price staged a gradual recovery to RM2.60 in mid 2024, only to drop back to a low of RM1.40 in April 2025 due to the US tariff. 

After this, it went up more than 100% to above RM3.00 now, after a good quarter result and also boosted by AI euphoria in US stock market.

I sold MI because it almost reached my target price, and I felt that it rose too fast and might retreat significantly anytime soon.

After selling at RM2.89, I thought I have made a correct decision as after a few days, its share price fell heavily to RM2.70 on 17th Oct.

However, it rebounded strongly to RM3.20 and I think I don't have a chance to buy back now. Its upcoming quarter result is expected to be good.