AirAsia CEO Aireen Omar said AirAsia Bhd's acquisition of PT Metro Batavia is still on track despite possible review over the deal due to ownership concerns. A local Jakarta daily reported that the Indonesian government may not approve the acquisition by AirAsia and its Indonesian partner of local airline Batavia Air, if the transaction breaches the foreign ownership limit in national airlines, a top government official has said.

AirAsia said in a statement on July 26 that it would hold a 49% stake in Metro Batavia Group with the 51% majority stake held by its Indonesian partner, PT Fersindo Nusaperkasa to comply with Indonesian civil aviation ownership regulations. Fersindo is also the 51% majority shareholder of PT Indonesia AirAsia (IAA). According to the local report, the transportation ministry's air transportation director general, Herry Bhakti Gumay, said AirAsia and its partner Fersindo, had yet to report their acquisition to the ministry. ' The Edge

Naim Holdings Bhd's wholly-owned subsidiary, Naim Engineering Sdn Bhd has received a RM208mil contract from Mass Rapid Transit Corporation Sdn Bhd for the works packages under the Klang Valley Mass Rapid Transit (MRT) project. Naim Holdings said that Naim Engineering will undertake package S4 under the Sungai Buloh-Kajang MRT alignment, which involves the construction of elevated stations and related works at Section 16, Pusat Bandar Damansara and Semantan. ' Business Times

The Ampang light rail transit (LRT) line extension project has been awarded to a joint venture between George Kent (M) Bhd and Lion Pacific Sdn Bhd. Syarikat Prasarana Negara Bhd (SPNB) said with the award, it had given out all work contracts under the LRT line extension project except for the access card, which had yet to be tendered out.

SPNB said the joint venture was 100% locally-owned company, and was well supported by reputable local and international multi-disciplinary technical partners. The SPNB statement confirmed a StarBiz report in mid-July which noted that George Kent had kept mum on whether it had been awarded the contract for the extension of the RM960mil Ampang LRT project. The tender for the project closed on June 16 last year. The George Kent consortium had one of the highest bids, at RM1.13bil. - StarBiz

Source: AmeSecurities