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

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

Latest Podcasts




Play / Pause

Listen now : The Selector

Today’s Shows



10:00 AM

Pick of the Pops (REPEAT)

12:00 PM

Bar None (REPEAT)

The Legend Of Pa’din; Pa'din Musa

1:00 PM

Ringgit and Sense (REPEAT)

Takaful And Its Role In Estate Planning; Shahrul Azlan Shahriman, CEO, Great Eastern Takaful

1:30 PM

The Property Show (REPEAT)

What's Next For Cities?; Professor Sanford Ikeda, Professor of Economics, Purchase College

2:00 PM

Cruise Control (REPEAT)

What Sort of Cars Can You Get For RM100,000?; Daniel Fernandez, dsf.my

3:00 PM

By The Book (REPEAT)

The Legend; Bob Holmes, Journalist

4:00 PM

The Bigger Picture (REPEAT)

5:00 PM

TED Radio Hour

Making Amends; Manoush Zomorodi

6:00 PM

Night School (REPEAT)

The Ajaib-khana - The Museum Today and Wonder; Qaleeda Talib

7:00 PM

Take Five (REPEAT)

8:00 PM

The Flow (REPEAT)

9:00 PM

The Selector