Background of Air Asia

The airline was established by a Malaysian conglomerate in 1993 and commenced operations in 1996. In
December 2001, with the airline heavily in debt, AirAsia was purchased by Tony Fernandes of Tune Air
Sdn. Bhd. for the price of RM1.

Tony also took up the RM40million debt. Under the leadership of Tony Fernandes, the airline was flying
high in 2002 and launched its new route that year. In 2003, a second hub was opened in Senai
International Airport, Johor Bahru, as well as the airline‟s maiden international flight to Bangkok.

AirAsia now flies to all ASEAN countries,a great portion of Asian countries that include India, Iran, Sri
Lanka and Bangladesh; as well as to the United Kingdom, France, Japan, Korea and Australia via
AirAsiaX. In 2011, we are setting up another AirAsia hub in the Philippines and are well on the way in
setting up other similar operations elsewhere in the region soon after

What Is Important To Us

These are “The Ties that Bind” the critical things that hold us together and make us what we are. As a
AirAsia Allstars, you are a walking, talking advertisement of our Brand! Each and every one of you is
living proof that dreams can become reality. You are AirAsia‟s greatest asset.

AirAsia is about revolutionising the business of air travel. We truly believe in our promise to the people
and that is “Now Everyone Can Fly”. That is our brand vision, which we have made into reality for
millions of people over the years, and will do so for countless more.

Our brand is an asset that takes time and effort to build. We must continually nurture and protect it.
Because the brand itself that has been brought forth by many, is the quality that sets us apart from
everyone else.

.
Strengths

 Single aircraft type

 High aircraft utilization and efficient operations

Weaknesses

 Low Distribution Costs: Utilization of Information Technology (IT)

 Flat organizational structure and effective staff policies

HARBOUR LINK

Background of the company

Their company was way back to 1975, where their company’s founder started their careers in the early
days of the freight-forwarding and shipping industry in the east Malaysian state of Sarawak. Realizing the
industry’s potential, they set out to build a business providing transportation and forwarding services to
Sarawak Shell Bhd. and related oil & gas companies, with a handful of dedicated employees and limited
facilities.

When the discovery of large reserves of natural gas was made off the coast of Bintulu in the late 1970s, it
brought with it an economic boom to what was then not much more than a sleepy fishing village. Riding
on the waves of development and economic growth brought on by the birth of the oil and gas industry. In
the 1980s & 90s, when major petrochemical projects such as Malaysia Liquefied Natural Gas (MLNG),
ASEAN Bintulu Fertiliser (ABF), and Shell MDS (Middle Distillate Synthesis) began to establish their
plants here as well as the mushrooming of timber related industries within the region, Harbour-Link
Group was established to provide logistics services for these projects.

What Is Important To Us

Incorporated in 2002, Harbour-Link Group Berhad consolidated all related business activities and was
officially listed on the Main Market of Bursa Malaysia Securities Berhad on 6 January 2004. With its
roots firmly planted in the shipping and total logistics services, engineering & construction industry for
the past 40 Years, Harbour-Link Group has grown steadily and built multi-disciplinary industry expertise
covering a comprehensive range of services to fulfill its client’s needs. Today, Harbour –Link Group’s
business footprint extends across the Intra-Asian region and it has successfully established itself as a
reputable brand-name within the industries that it operates.
(i) Business activities
 Integrated logistics services
 Shipping and marine services
 Engineering & constructions
 Heavy lifting & haulage
 Property development

(ii) Strengthens
 Long experience in the transport sector lead to an advance and strong business model
of market leaders arise
 Established marketing channels allow sales network for worldwide distribution.

(iii) Weakness
 The lack of funding to purchase
KONSORTIUM TRANSNASIONAL BERHAD (KTB) made its debut on Bursa Malaysia on June 15,
2007 engages primarily in the bus transportation system comprising stage and express bus operations
within Peninsular Malaysia.

The stage and express bus operations provide the most extensive coverage throughout Peninsular
Malaysia, covering almost all major cities and towns as well as Singapore. The nationwide network is
serviced by a fleet of more than 1,500 buses that covers more than 250 routes, generating more than 1,000
trips daily and this translates to around 60 million passengers a year.

To date, KTB commands the largest market share, with ‘Transnasional’ being the leader in the express
bus industry in Peninsular Malaysia. Besides ‘Transnasional’, KTB also operates ‘Cityliner’ stage buses,
‘Plusliner’ economy express buses and luxury bus services under the ‘Nice’ brand.
(iv) Business activities
 Stage bus
 Express bus
 Bus charter services
 Bus advertisement

(v) Strengthens

(vi) Weakness

 LIQUIDITY RATIO

Meaning : Liquidity ratios refer to the ability of a company to pay its short-term obligations using current
asset.

𝑪𝒖𝒓𝒓𝒆𝒏𝒕 𝑨𝒔𝒔𝒆𝒕
CURRENT RATIO = 𝑪𝒖𝒓𝒓𝒆𝒏𝒕 𝑳𝒊𝒂𝒃𝒊𝒍𝒊𝒕𝒚

Meaning : Measure the company ability to pay its short-term liabilities.

YEAR AIR ASIA HARBOUR-LINK KTB

2012 3,397,197 197,211,969 72,031

2,391,632 131,455,686 70,028

= 1.42 times = 1.3 times = 1.03 times

2013 2,923,185 199,353,464 70,173

2,572,255 138,115,726 159,912

= 1.14 times = 1.44 times = 0.44 times

2014 2,533,378 224,633,588 73,426

4,112,253 147,418,672 161,036

= 0.62 times = 1.52 times = 0.46 times

2015 4,286,379 310,795,286 81,439

5,271,716 214,968,346 176,397

= 0.81 times = 1.45 times = 0.46 times

2016 4,774,167 312,262,058 75,896

4,917,971 152,607,109 207,145

= 0.97 times = 2.05 times = 0.37 times

For year 2012, Air Asia has the highest current ratio compared to the other two company which is 1.42
times. This shows that in 2012 Air Asia is better because they are efficient in paying their liabilities.

As for the year 2013,2014,2015 and 2016, Harbour-Link has the highest ratio therefore they are more
liquid and better in paying their liabilities during those years.
 𝑪𝒖𝒓𝒓𝒆𝒏𝒕 𝑨𝒔𝒔𝒆𝒕−𝑰𝒏𝒗𝒆𝒏𝒕𝒐𝒓𝒚
QUICK RATIO = 𝑪𝒖𝒓𝒓𝒆𝒏𝒕 𝑳𝒊𝒂𝒃𝒊𝒍𝒊𝒕𝒚

YEAR AIR ASIA HARBOUR-LINK KTB

2012 3397197 − 23726 197211962 − 2788002 72031 − 505

2391032 131455686 70028

= 1.41 times = 1.28 times = 1.02 times

2013 2923185 − 29520 199353464 − 2840727 70173 − 304

2572255 138115726 159912

= 1.12 times = 1.42 times = 0.44 times

2014 2533378 − 18152 224633588 − 3248638 73426 − 506

4112253 147418672 161036

= 0.61 times = 1.50 times = 0.45 times

2015 4286379 − 26152 310795286 − 5106023 81439 − 0

5271716 214968346 176397

= 0.81 times = 1.42 times = 0.46 times

2016 4774167 − 43866 312262058 − 33180141 75896 − 0

4917971 152607109 207145
= 0.96 times
= 1.83 times = 0.37 times

Based on the above table, Harbour-Link has the highest quick ratio for all the five years from
2012 to 2016 compared to the other two companies.

This means that Harbour-Link is better and has the ability to pay short term loan without relying
on its inventory since it has the highest Quick Ratio.
 ACTIVITY RATIOS

(i) Account receivable turnover

Sales
=Acc Receivable

YEAR AIR ASIA HARBOUR-LINK KTB

2012 4946091 472972827

=113580954
240855
= 42677
771820
=4.16 times =5.64 times
=6.4 times
2013 5111822 422707999 240957
= 731506 = = 25242
109429661

=6.99 times =3.86 times = 9.55 times

2014 5415744 457562862 223293

= 682404 = 96731774 =
24236

=7.93 times =4.73 times =9.21 times

2015 6297658 506963059 179512

= 617422 =133160334 = 40407

=3.81 times = 4.44 times

=10.2 times
2016 6846085 590764421 172228
=1087657 =144081916 = 28469

=6.29 times =4.1 times =6.05 times

Based on the year 2012,2013 and 2014 KTB has the higher ARTO, therefore KTB is more effective in
collecting debts from customers.

On the year 2015 and 2016, Air Asia is more effective in collecting debts from customer since it has
higher ARTO.
 𝐴𝑐𝑐 𝑟𝑒𝑐𝑒𝑖𝑣𝑎𝑏𝑙𝑒
AVERAGE COLLECTION PERIOD = 𝑆𝑎𝑙𝑒𝑠
×360

YEAR AIR ASIA HARBOUR KTB

LINK
2012 771820 113580954 42677
=4946091 x360 =472972827 x 360 =240856 x360

=56 days = 86 days =64 days

2103 731506 109429661 25242

=5111822 x360 =422707999x360 =240957 x360

=52 days =94 days =38 days

2014 682909 96731774 24236

=5415744 x360 =457562862x360 =223293 x360

=45 days =76 days =39 days

2015 𝟔𝟏𝟕𝟒𝟐𝟐 133160334 40407

=𝟔𝟐𝟗𝟕𝟔𝟓𝟖x360 = x360 = x360
506963059 179512

=35 days =95 days =81 days

2016 1087657 144081916 28489

=6846085 x360 = x360 = x 360
590764421 172228

=57 days =88 days =60 days

Based on the year 2012, 2015 and 2016, Air Asia has the shortest time to measure the efficiency in
collecting debt in a short period.

Next, in the year 2013 and 2014 KTB has shorter ACP which is 38 days and 39 days respectively and it is
better because the company can collect the debts within shorter period.
 Acc Payable
AVERAGE PAYMENT PERIOD = Purchases
x360

YEAR AIR ASIA HARBOUR-LINK KTB

2012 666148 109343870 58816

= x360 = x360 =42781 x360
4052450 944087321

=60 days =89 days = 495 days

2013 744998 60253233 55839

=4430177 x 360 =53844123 x 360 =39507 x 360

=60 days =403 days =509 days

2014 773128 59076036 72115

=4767741 x 360 =33351937 x360 =34058 x 360
=58 days =639 days = 𝟕𝟔𝟐 𝐝𝐚𝐲𝐬

2015 1634057 88227356 74906

= x 360 = x 360 = x 360
4833013 48793340 45670

=122 days =651 days = 590 days

2016 1882183 97444852 102898

=5087499 x 360 =44862155 x 360 = 36017 x 360

=133 days =782 days = 1028 days

Based on the year 2012, 2013, 2014 and 2016 KTB’s APP is longer. Therefore, KTB can reflects
the availability of cash in the company.

On the year 2015, Harbour-Link can effectively pay credit purchases to their supplier since they
have the longest APP.
 COGS
INVENTORY TURNOVER =
Inventory

YEAR AIR ASIA HARBOUR-LINK KTB

2012 4046258 414901799 244267

= 23725
= 2788002
= 505

=170.64 times =148.82 times =483.70 times

2013 4424382 53791398 223659

= 29520
= 2840727 = 304

=149.88 times =18.94 times =735.72 times

2014 4815413 378975968 204925

= 18152
= 3248638
= 506

=265.68 times =116 times =404 times

2015 4825013 383620692 174221

= = 5106023
= 0
26152

=184.50 times =75.13 times =0

2016 5069735 454203546 175055

= 43866
= 33180141 = 0

=115.57 times =13.69 times =0

Based on the year 2012 to 2014 KTB has the highest ITO and it is more effective in using inventory to
generate sales. In fact, the company can strengthen the collection policy.

In the year 2015 and 2016, Air Asia has the highest ITO it shows that Air Asia is better because it can
maintain less inventory in a year. Not only that, it has more ability to pay interest payment.
 sales
FIXED ASSET TURNOVER = fixed asset

YEAR AIR ASIA HARBOR-LINK KTB

2012 4946091 472972827 240855

12331613 313030070 277866
=0.40 times =1.36 times =0.87 times

2013 5111822 422707999 240957

=257082
14932909 244755548
=0.94 times
=0.34 times =1.73 times
2014 5415744 457562862 223293
20664118 261776595 316959
= 0.30 times =1.75 times =0.70 times

2015 6297658 506963059 179512

17029878 272103338 342115
=0.37 times =1.86 times =0.52 times

2016 6346085 590764421 172228

17211220 276818513 425063
=0.40 times =2.13 times =0.49 times

Based on this activity ratios, Harbour-link has the highest FATO because of the company’s
ability to generate sales using fixed assets. In fact, Harbour-link efficiency in using only fixed
assets to produce goods or products for sales.
 sales
TOTAL ASSET TURNOVER = total asset

YEAR AIR ASIA HARBOUR-LINK KTB

2012 4946091 472972827 240855

15728810 515242039 351897
=0.31 times =0.92 times =0.68 times

2013 5111822 422707999 240957

17856094 444109012 257083
=0.28 times =0.95times =0.73 times

2014 5415744 457562862 2232993

20664118 486410183 390385
=0.26 times =0.94 times =0.57 times

2015 6297658 506963059 179512

21316257 582898624 423554
=0.3 times =0.87 times =0.42 times

2016 6846085 590764421 172228

2198538 589080571 425063
=0.31 times =1 times =0.41 times

For the year 2012 to 2016, Harbour-Link has the highest TATO since the company efficiently in using all
resources and assets to generate sales.

For Air Asia and KTB, it has lower TATO, therefore, the company should reduce inventory amount so
that in can speed up the cash. Not only that, the company should reduce cost so it can increase the sale.
 𝑇𝑂𝑇𝐴𝐿 𝐿𝐼𝐴𝐵𝐼𝐿𝐼𝑇𝑌
DEBT RATIO = 𝑇𝑂𝑇𝐴𝐿 𝐴𝑆𝑆𝐸𝑇
× 100

YEARS AIR ASIA HARBOUR-LINK KTB

2012 10,868,441 237,004,686 242,253

𝑥 100 𝑥 100 × 100
15,728,810 515,242,039 351,897
= 69.10% =46% =68.84%
2013 12,855,162 227,407,144 207,317
𝑥 100 𝑥 100 × 100
17,856,093 444,109,012 330,725
= 71.99% =51.21% =62.69%

2014 16,109,027 237,276,187 261,572

× 100 𝑥 100 × 100
20,664,118 486,410,183 390,385
=77.96% =48.78% =67%
2015 16,865,403 284,025,425 292,951
𝑥 100 × 100 × 100
21,316,257 582,898,624 423,554
=79.12% =48.73% =69.16%
2016 15,357,608 225,338,160 317,985
𝑥 100 × 100 × 100
21,985,387 589,080,571 425,063

=69.85% =38% =74.81%

Comment:
Based on the year 2012, 2013, 2014 and 2015, Air Asia has the higher Debt Ratio than Konsortium and
Harbour-Link. It indicates the higher amount of debt in the Air Asia financial structure. The higher the
debt ratio, the greater the potential level of financial risk the company could face, including bankruptcy.
Thus, Air Asia have a high risk and has a little asset and lead to high risk of bankruptcy.

Meanwhile, Harbour-Link has a lower debt ratio from 2012 until 2016 compared to Air Asia and
Konsortium. It indicates that Harbour-Link has more assets than debt. The lower the debt ratio is the
better. In a sense, it shows Harbour-Link is capable to pay off its liabilities with its assets. This helps
investors and creditors analysis the overall debt burden on the company as well as the firm’s ability to pay
off the debt in future, uncertain economic times.
 𝑇𝑂𝑇𝐴𝐿 𝐿𝐼𝐴𝐵𝐼𝐿𝐼𝑇𝑌
DEBT EQUITY RATIO = 𝑇𝑂𝑇𝐴𝐿 𝐸𝑄𝑈𝐼𝑇𝑌
× 100

YEARS AIR ASIA HARBOUR-LINK KTB

2012 10 868 441 237 004 686 242 253

× 100 × 100 × 100
4 860 369 278 237 353 109 644
=223.61% =85.18% =220.95%

2013 12 855 162 227 407 144 207 317

× 100 × 100 × 100
5 000 932 216 701 868 123 408
=257.06% =104.94% =168%

2014 16 109 027 237 276 187 261 572

× 100 × 100 × 100
4 555 091 249 133 996 128 813
=353.65% =95.24% = 𝟐𝟎𝟑. 𝟎𝟔%

2015 16 865 403 284 025 425 292 951

× 100 × 100 × 100
4 450 854 298 873 199 130 603
= 378.93% =95.03% =224.31%
2016 15 357 608 225 338 160 317 985
× 100 × 100 × 100
6 627 779 363 742 411 107 078
=231.72% =61.95% =296.97%

Comment:
Based on the year 2012 until 2015, Air Asia has the higher debt equity ratio compared to Harbour-Link
and Konsortium. The higher the debt to equity ratio, the higher the risk. It indicates that more creditor
financing (bank loans) is used than investor financing (shareholders). It shows that Air Asia may not be
able to generate enough cash to satisfy its debt obligations. In other words, investors don’t want to fund
the business operations because the company isn’t performing well. Air Asia should issue more securities
and shares to gain more capital from shareholders.

However, in 2012 until 2016, Harbour-Link has a lower debt to equity. The lower the debt to equity is the
better whereby it usually implies a more financially stable business.
 𝐸𝐵𝐼𝑇
TIME INTEREST EARNED = 𝐼𝑁𝑇𝐸𝑅𝐸𝑆𝑇 𝐸𝑋𝑃𝐸𝑁𝑆𝐸𝑆

YEARS AIR ASIA HARBOUR-LINK KTB

2012 1 027 048 12 500 334 10 990

378 808 7 102 380 4 667
=2.71x =1.76x =2.35x

2013 1 010 475 25 427 881 18 158

425 406 7 783 302 3 480
=2.36x =3.27x =5.22x
2014 853 591 57 423 185 13 772
412 098 6 399 897 3 958
=2.07x =6.97x =3.48x

2015 2 036 644 82 397 488 6 670

569 887 5 737 817 4 889
=3.57x =14.36x =1.36x
2016 2 111 289 107 760 488 7 080
458 138 5 799 921 15 660
=4.61x =18.58x =0.45x

Comment:
Based on the year 2012, Air Asia has a higher time interest earned. But in 2013, Konsortium has the
higher time interest earned. However, on 2014 until 2016, Harbour-Link has the highest time interest
earned. The higher the time interest earned, the better as it indicates higher company’s ability to pay the
interest. It shows Harbour-Link can afford to pay its interest payments when they come due.

Meanwhile, Air Asia and Konsortium has a low time interest earned whereby companies with low ratio
may have to face difficulties in raising funds for their operations. Besides, it shows that the company has
not sufficient earnings to pay off interest expense and hence its debt obligations.
PROFITABILITY RATIO
Gross Profit
GROSS PROFIT MARGIN = × 100
Sales

YEAR AIR ASIA HARBOUR-LINK KTB

2012 899,813 58,071,028 3,412

× 100 × 100 × 100
4,946,091 472,972,827 240,855
= 18.19% = 12.28%
= 1.42%

2013 628,408 69,444,682 17,298

× 100 × 100 × 100
5,111,822 422,707,999 240,957
= 12.29% = 16.43% = 7.18%

2014 600,331 78,586,894 18,368

× 100 × 100 × 100
5,415,744 457,562,862 223283
= 11.08% = 17,18% = 8.23%

2015 1,472,645 123,342,367 5,291

× 100 × 100 × 100
6,297,658 506,963,059 179,512
= 23.38% = 24.33% = 0.69%

2016 1,776,300 136,560,875 2,827

× 100 × 100 × 100
6,846,985 590,764,421 172,228
= 25.95% = 23.12% = 1.64%

Based on year 2012 and 2016, Air Asia have higher gross profit margin due to efficient in generate their
company sales. On 2013, 2014 and 2015, Harbour-Link have a higher gross profit margin indicates the
company can make reasonable profit on sales.

On 2012 to 2016, KTB generate lower sales compares to the other two companies. Therefore, KTB’s
gross profit margin is the lowest because the company failed to improve their marketing skills.
 Net Profit
NET PROFIT MARGIN = Sales
× 100

YEAR AIR ASIA HARBOUR-LINK KTB

2012 786,608 26,036,021 2.920

× 100 × 100 × 100
4.946,091 472,972,827 240,855
= 15.96% = 5.50% = 1.21%

2013 362,124 6,737,035 13,894

× 100 × 100 × 100
5,111,822 422,707,999 240,957
= 7.08% = 1.59% = 5.77%

2014 82,836 36,349,158 5,913

× 100 × 100 × 100
5,415,744 457,562,862 223,293
= 1.53% = 7.94% = 2.65%

2015 541,280 54,641,961 1,233

× 100 × 100 × 100
6,297,658 506,963,059 179,512
= 8.59% = 10.78% = 0.69%

2016 2,046,942 71,857,929 24,962

× 100 × 100 × 100
6,846,085 590,764,421 172,228
= 29.90% = 12.16% = 14.49%

Based on year 2012, 2013 and 2016, Air Asia have a higher net profit margin. It shows that the
company generate more sales. The company successfully to minimum their cost of expenses.
Harbour-Link also achieved a higher net profit margin on 2014 and 2015 due to good in managing
their resources.

On 2012 and 2015, KTB generate lower in sales and it shows that the company have the lowest net
profit margin. Harbour-Link have the lowest net profit margin on 2013 and 2016 same goes to Air
Asia on 2014. It shows that all company has low in net profit margin because they cannot manage
their expenses properly.
 EBIT
OPERATING PROFIT MARGIN = × 100
Sales

YEAR AIR ASIA HARBOUR-LINK KTB

2012 1,027,048 42,368,764 10,990

× 100 × 100 × 100
4,946,091 472,977,827 240,855
= 17.74% = 8.98% = 4.56%

2013 439,500 25,427,881 18,158

× 100 × 100 × 100
5,111,822 422,707,999 240,957
= 8.60% = 6.02% = 7.54%

2014 853,591 57,423,185 13,772

× 100 × 100 × 100
5,415,744 457,562,862 223,293
= 15.76% = 12.55% = 6.17%

2015 2,036,644 82,397,488 6,670

× 100 × 100 × 100
6,297,658 506,963,059 179,512
= 32.34% = 16.25% = 3.72%

2016 2,111,289 107,760,488 7,080

× 100 × 100 × 100
6,846,085 590,764,421 172,228
= 30.84% = 18.24% = 4.11%

\
 Net Profit
RETURN ON ASSETS = Total Assets × 100

YEAR AIR ASIA HARBOUR-LINK KTB

2012 789,608 26,036,021 2,920

× 100 × 100 × 100
15,728,810 515,242,039 351,897
= 5.02% = 5.05% = 0.83%

2013 362,124 6,737,035 13,894

× 100 × 100 × 100
17,856,094 444,109,012 330,725
= 2.03% = 1.52% = 4.20%

2014 82,836 36,349,158 5,913

× 100 × 100 × 100
20,664,118 486,410,183 390,385
= 0.4% = 7.47% = 1.51%

2015 541,280 54,641,961 1,233

× 100 × 100 × 100
21,316,257 582,898,624 423,554
= 2.54% = 9.37% = 0.29%

2016 2,046,942 71,857,929 24,962

× 100 × 100 × 100
21,985,387 589,080,571 425,603
= 9.31% = 12.2% = 5.87%

Based on year 2012, 2014, 2015 and 2016, Harbour-Link have higher in return on assets. The company is
more favourable to investors because it shows that they manage their assets effectively. On 2014, KTB
have a good performance in collect their account receivables to cover their assets management.

On 2012, 2015 and 2016, KTB return on assets is the lowest among the others company. Harbour-Link
have the lowest return on assets on 2013 same goes to Air Asia on 2014. It shows the company is bad in
managing their assets. The company also is lack in their collection of debt and the company have to
depend on their cash.
 Net Profit
RETURN ON EQUITY = Total equity × 100

YEAR AIR ASIA HARBOUR-LINK KTB

2012 789,608 26,036,021 2,920

× 100 × 100 × 100
4,860,369 278,237,353 109,644
= 16.25% = 9.36% = 2.66%

2013 362,124 6,737,035 13,894

× 100 × 100 × 100
5,000,932 216,701,868 123,408
= 7.24% = 3.11% = 11.26%

2014 82,836 36,349,158 5,913

× 100 × 100 × 100
4,555091 249,133,996 128,813
= 1.82% = 14.59% = 4.59%

2015 541,280 54,641,961 1,233

× 100 × 100 × 100
4,450,854 298,873,199 130,603
= 12.16% = 18.28% = 0.94%

2016 2,046,942 71,857,929 24,962

× 100 × 100 × 100
6,627,779 363,742,411 107,078
= 30.88% = 19.76% = 23.31%

Based on 2012 and 2016, Air Asia return on equity is the highest among the others. On 2013, KTB have
the highest return on equity same goes to Harbour-Link on 2014 and 2015.

KTB have the lowest return on equity on 2012 and 2015. On 2013 and 2016 Harbour-Link is lowest on
return on equity same goes to Air Asia on 2014.
MARKET RATIO

EARNING PER SHARE- Measures the amount of earnings available for each of the common
shareholders’ shares. EPS also measures the profit generated from each share.

𝑁𝐸𝑇 𝐼𝑁𝐶𝑂𝑀𝐸−𝐷𝐼𝑉𝐼𝐷𝐸𝑁𝐷
EARNING PER SHARE = 𝑊𝐸𝐼𝐺𝐻𝑇𝐸𝐷 𝐴𝑉𝐸𝑅𝐴𝐺𝐸 𝑁𝑈𝑀𝐵𝐸𝑅 𝑂𝐹 𝑂𝑅𝐷𝐼𝑁𝐴𝑅𝑌 𝑆𝐻𝐴𝑅𝐸𝑆 𝐼𝑁 𝐼𝑆𝑆𝑈𝐸

AIR ASIA HARBOUR LINK KONSORTIUM

2012 789,608 27,718,736 2,835

2,779,057 182,000,002 339,276
=0.28 =0.1496 =0.0083

2013 362,124 50,9319 13,894

2,780,542 18,200,002 339,276
= 0.1302 = 0.028 =0.041

2014 82,836 3,341,5247 5,913

2,782,245 182,000,002 402,798
= 0.0298 =0.1836 =0.0147

2015 541,194 51789526 1,233

2,782,974 182,000,002 402,798
=0.194 =0.28 =0.003

2016 2,050,043 59,198,349 (24,962)

2,782,874 400,400,004 402,798
= 0.74 =0.14 =-0.0602
 𝐷𝐼𝑉𝐼𝐷𝐸𝑁𝐷
DIVIDEND PER SHARE = 𝑊𝐸𝐼𝐺𝐻𝑇𝐸𝐷 𝐴𝑉𝐸𝑅𝐴𝐺𝐸 𝑁𝑈𝑀𝐵𝐸𝑅 𝑂𝐹 𝑂𝑅𝐷𝐼𝑁𝐴𝑅𝑌 𝑆𝐻𝐴𝑅𝐸𝑆 𝐼𝑁 𝐼𝑆𝑆𝑈𝐸

AIR ASIA HARBOUR LINK KONSORTIUM

2012 138957 3640000 14
2779057 182000002 339276
=0.05 =0.02 =0.00004

2013 667214 455000 89

2780542 18200002 339276
=0.24 =0.025 =0.00026

2014 111292 4550000 6

2782245 182000002 402798
=0.04 =0.025 = 0.00002

2015 83489 10010000 6

2782974 182000002 402798
= 0.03 = 0.05 =0.00002

2016 111315 8008000

2782874 400400004
-
= 0.04 =0.02