BFM 89.9

Podcast  >  Morning Run  >  Today's BizTalk  >  AirAsia Looks to Unload Non Flying Baggage

AirAsia Looks to Unload Non Flying Baggage

The Morning Run Crew

01-Nov-17 07:45

AirAsia Looks to Unload Non Flying Baggage

AirAsia Bhd shares was in active trade yesterday rising 5.03% in a day to RM3.34. This is their biggest daily percentage rise since May.

What's fuelling this?

Its founder Tan Sri Tony Fernandes revealed that group plans to sell more stakes in non-flying businesses to fund special dividends to shareholders.

He also said that Airasia is close to selling some or all of its aircraft leasing arm and its remaining 25% stake in a travel booking JV with Expedia Inc.

The airline will also consider the sale of stakes in its food, engineering and duty-free businesses in the future, although Tony told newswire Reuters that no talks on those have begun.

5:40 - Asian shares are climbing back to pre-financial crisis high. The tech sector rise has been the most notable market shift since 2007 and taking centre stage. Tech has surpassed finance as the largest component of the MSCI Asia Pacific Index for the first time since the internet bubble burst in 2000. At the local front, British American Tobacco shares were down yesterday, while Press Metal Aluminium Holdings Bhd hit a record high, ahead of potential changes in the component stocks of the FBM KLCI index.

8:18 - Iskandar Waterfront City Bhd (IWCity) and Iskandar Waterfront Holdings Sdn Bhd (IWH) have mutually agreed to terminate the proposed merger. Instead, Tan Sri Lim Kang Hoo now wants to consolidate IWC and Ekovest Bhd. Ekovest received a proposal from Lim for it to buy the remaining 62% stake in IWC from minority shareholders. The offer price of RM1.50 per share or for new Ekovest shares was 7.14% premium to IWC’s last traded price of RM1.40 before it requested for trading suspension.

Presented by: Joyce Goh, Sharaad Kuttan, Tan Chung Han,


Download the BFM mobile app. Stay at home and stay up-to-date.

Tags:  Asian StocksTencentAviationAirAsiaIskandar Waterfront CityEkovestIskandar Waterfront HoldingsTony FernandesAviation, Auto, Transport, LogisticsEnergy, EnvironmentInternet, e-Business, e-commerceProperty, Real Estate, ConstructionTelecom, IT, TechnologyEconomy, MarketsPolitics, News, Current Affairs


Business
Money

Share this podcast




Play / Pause

Listen now : Take Five (REPEAT)

Today’s Shows



10:00 AM

Breaking Bread (REPEAT)

Moreish, Meaty Meals, with Maria's; Loh Yi Jun (junandtonic.com), Angeline Tan (Maria's Steak Cafe)

11:00 AM

A Bit of Culture (REPEAT)

12:00 PM

I Love KL (REPEAT)

National Urban Design Compendium; Shuhana Shamsuddin, PEREKA BANDAR

1:00 PM

Best of Enterprise (REPEAT)

Malaysia, No Longer A Prawn In The Worldwide Market; Giva Kuppusamy, GK Aqua

1:30 PM

Raise Your Game (REPEAT)

Empowering Students With Leadership Skills; Kelvin Tan, Project ID

2:00 PM

Popcorn Culture (REPEAT)

Review - Ted Lasso

2:30 PM

Popcorn Culture (REPEAT)

Review - Black Widow

3:00 PM

GGWP (REPEAT)

Epic Games vs Apple Ruling - The Breakdown; Lesley Lim, Lawyer, MahWengKwai & Associates

4:00 PM

Pick Of The Pops

POTP Epi413 - Best Music Memories From The 60s to 80s; Patrick Teoh

6:00 PM

Wavelength (REPEAT)

Wavelength 259; Trex & Tri, The Dinosaur's Skin 恐龍的皮

7:00 PM

Take Five (REPEAT)

9:00 PM

The Flow (REPEAT)