Fernandes (left) collecting food from AirAsia Food merchant JoshiJosh
PETALING JAYA: AirAsia Group Bhd’s wholly owned subsidiary AirAsia Investment Ltd is disposing of a 32.67% stake in AirAsia (India) Ltd (AAI) to its joint venture partner Tata Sons Pte Ltd for US$37.66 million (RM152.58 million).
According to its Bursa filing, the transaction includes a call option for the group’s remaining 16.33% stake in AAI, exercisable by Tata at any time after the disposal is completed, for US$18.83 million (RM76.29 million). The deal includes a put option exercisable by AirAsia in two tranches, March 1 to May 30, 2022 and Oct 1 to Dec 31, 2022.
The budget airline said the proceeds from the disposal will be used as working capital for first-quarter 2021.
Friday, 18 Dec 2020 02:30 PM MYT
BY MILAD HASSANDARVISH
AirAsia Group founder and CEO Tan Sri Tony Fernandes (3rd from right) and ECM Libra Foundation chairman Datuk Seri Kalimullah Hassan (2nd from right) at the handover of contributions to NGO representatives. Picture by Choo Choy May
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KUALA LUMPUR, Dec 18 Two business tycoons who joined hand for a worthy squash battle have raised a whopping RM750,000 to help feed the underprivileged.
AirAsia Group founder and chief executive officer Tan Sri Tony Fernandes and businessman Tan Sri Mohamad Salim Fateh Din have managed to raise the sum through their corporate network in a bid to help vulnerable communities affected by the Covid-19 pandemic.
KUALA LUMPUR (Dec 10): Based on corporate announcements and news flow today, stocks in focus for Friday (Dec 11) may include: Cymao Holdings Bhd, AirAsia Group Bhd, Bermaz Auto Bhd, Poh Kong Holdings Bhd, BIMB Holdings Bhd, Top Glove Corp Bhd, UMW Holdings Bhd, KUB Malaysia Bhd, Berjaya Land Bhd (BLand) and 7-Eleven Malaysia Holdings Bhd.
In response to Bursa Malaysia s unusual market activity query yesterday,
Cymao Holdings Bhd said the group is in the final stage of discussion with several parties on a potential new viable business venture to reduce the plywood maker s reliance on its core business.
Cymao said in light of the plywood industry remaining challenging, the group has been exploring new business opportunities to expand its core business or diversify its businesses to reduce reliance on the existing core business, as well as to expand the company s earnings base.
PETALING JAYA: People are beginning to get their confidence back in travel and China tourists will be the first to travel again, as the country is almost being cleared of the pandemic, says AirAsia Group CEO Tan Sri Tony Fernandes (pic).
The Chinese tourists are important as they make up the largest number of tourists travelling worldwide before the pandemic.
“I foresee Chinese tourists flying to Malaysia too. Travellers will prefer shorter flights of about four hours as a start.
“AirAsia will benefit because there are many direct flights from Kuala Lumpur to Chinese cities, ” he said in an online interview during the Global Tourism Economy Forum 2020 in Macau yesterday.