After awhile, returns to normalcy. Mark my words. G nite

Ambank was related to 1mdb case, big sum involved, ambank is still strong and profitable now with big foreign shareholder such as ANZ , CORRECT?

Airbus wanted to please AirAsia, sponsor the team to promote AirAsia and Airbus itself? Coincidentally, common shareholders , right? Nothing wrong, correct? :)


@PMHLDG288 The report also said that Airbus paid US$50 million and offered another US$55 million to sponsor a sports team linked to two executives described as “key decision-makers” at AirAsia and AirAsiaX.

Nazir of CIMB also ok, bukan? :)

Good job!

Airbus paid Caterham F1 to promote Airbus and AirAsia to make its own Airbus more famous and help to boost Airasia sales(its customer) so that AirAsia could also order more planes. Macam ini pun dipanggil bribekah?

The duo have issued a statement saying that Caterham F1 have promoted AirAsia, AirAsia X Bhd and Airbus at the time, adding that the F1 outfit made no profit while they were shareholders.

"Besides Asean, we will also focus on other markets including Europe, Australia, Middle East, Central Asia, Russia, Japan and South Korea, to help achieve our target of 30 million tourists and RM100 billion tourist receipts for this year," he added.

Mohamaddin said his ministry is optimistic of achieving those targets, despite the deadly virus issue, which first emerged in Wuhan.

According to him, Chinese nationals made up 11% of total tourists who visited Malaysia last year.

AirAsia helps the government to bring back Malaysians from Wuhan, make Malaysian brand AirAsia a global brand.

Hope AirAsia will continue to fly higher, etc

Tony, please fight a good fight and finish the race supernaturally.

Banyak orang mau AirAsia MAMPUS, saya rasa esok Akan pulih , tak tau, berapa banyak :)


Tony and kamaruddin have issued a statement saying that Caterham F1 have promoted AirAsia, AirAsia X Bhd and Airbus at the time, adding that the F1 outfit made no profit while they were shareholders.

See how Tony, an ACCA qualified accountant resolves the issue asap :)

@i3lurker insurance company need Bank Negara approval
nothing fishy at all

Bank Negara dun approve must resign immediately
04/02/2020 7:34 PM

Aireen Omar joins Tune Protect's board as Tony Fernandes exits

Author: Tan KW Publish date:  Thu, 14 Nov 2019, 10:50 AM


KUALA LUMPUR (Nov 13): Tan Sri Tony Fernandes has stepped down as Tune Protect Group Bhd's non-executive director due to the reorganisation of the AirAsia Group leadership team while Aireen Omar has been named non-executive director.

This is a good proxy for AA although , its biz is not only AA :)

Tune Protect Group Bhd is a Malaysia investment holding company that underwrites and reinsures non-life insurance products through its subsidiary companies. The group is organized into five major business segments, investment holding, and others, funds managed through collective investment schemes, general reinsurance, life reinsurance and general insurance business. The company has two general insurance businesses, Tune Insurance Malaysia Berhad as well as an associate company, Tune Insurance Public company Limited, located in Thailand. Both offer a range of products while also underwriting travel businesses in their respective countries. The company generates the majority of its revenue from general insurance business segment.

Date Price Target Source News
10/01/2020 0.62 AmInvest Price Target News
22/11/2019 0.70 TA Price Target News
22/11/2019 0.72 MIDF Price Target News

Tony and kamaruddin no longer in the board of tune . Should rebound balik

Date Close
04/02/2020 0.47
03/02/2020 0.475
31/01/2020 0.505
30/01/2020 0.525
29/01/2020 0.525
28/01/2020 0.52
24/01/2020 0.55
23/01/2020 0.55
22/01/2020 0.55
21/01/2020 0.56
20/01/2020 0.565
17/01/2020 0.56
16/01/2020 0.565
15/01/2020 0.57
14/01/2020 0.565
13/01/2020 0.56
10/01/2020 0.56
09/01/2020 0.56
08/01/2020 0.555
07/01/2020 0.575

Ada orang bunuh diri tak? Esok Naik balik?

Date Close
04/02/2020 1.15
03/02/2020 1.28
31/01/2020 1.43
30/01/2020 1.44
29/01/2020 1.48
28/01/2020 1.50
24/01/2020 1.56
23/01/2020 1.61
22/01/2020 1.61
21/01/2020 1.63
20/01/2020 1.63
17/01/2020 1.65
16/01/2020 1.68
15/01/2020 1.66
14/01/2020 1.68
13/01/2020 1.72

:)

Date Price Target Source News
03/02/2020 1.21 PUBLIC BANK Price Target News
03/02/2020 1.33 KENANGA Price Target News
23/01/2020 1.40 AmInvest Price Target News
16/01/2020 2.04 MIDF Price Target News
15/01/2020 2.01 TA Price Target News
04/12/2019 1.62 HLG

KUALA LUMPUR (Feb 4): AirAsia Group Bhd's directors Datuk Kamarudin Meranun and Tan Sri Tony Fernandes (pictured) have been urged to step down from the low-cost carrier's board pending investigations by Malaysian authorities over Airbus bribe claims against two AirAsia executives.

Minority Shareholders Watch Group (MSWG) CEO Devanesan Evanson said the two executives should have taken a leaf out of retired banker Datuk Seri Nazir Razak's book.

In April 2016, Nazir had taken a voluntary leave of absence from his role as CIMB Group Holdings Bhd group chairman amid a scandal about political funding and alleged misuse of money after it was revealed that his brother, former prime minister Datuk Seri Najib Razak, transferred a sum of about RM28 million into Nazir's account in the run-up to the 2013 general election.

Nazir returned to his role as chairman about a month later after the findings of a review concluded that he "did not misuse his position as group chief executive at the time nor was there any inappropriate use of the bank's resources".

"It would be better for them to take leave (similar to what Datuk Nazir Razak did in relation to the CIMB issue). The taking of such leave will also help these directors better prepare their cases and at the same time enable a more robust investigation by the public listed company (PLC) without the perception of possible interference by the implicated directors," Devanesan said in an email reply to theedgemarkets.com today.

"MSWG would have preferred the two directors to step down from the board pending investigations. If their expertise is required, they can always be advisors to the PLCs (AirAsia and AirAsia X Bhd) without assuming board positions.

"Having (both) the executive chairman (Kamarudin) being now classified as a non-executive chairman and the CEO and executive director (Fernandes) as non-executive directors may be untenable positions — they are still board members and the situation will create a general sense of unease and tenseness at the board level and stifle candid spontaneous discussions," he said.

Still, Devanesan said the allegations of wrongdoing or misconduct by the two executives of AirAsia and AAX that were revealed in the Deferred Prosecution Agreement entered into by Airbus SE and the UK Serious Fraud Office (SFO) on Jan 31 remained just that for now.

"At this point of time, in Malaysia, they remain as allegations. Several authorities (the Malaysian Anti-Corruption Commission, the Securities Commission Malaysia and the Malaysian Aviation Commission) are investigating the allegations.

"We should allow the investigations to be concluded. The allegations are serious and have already had an impact on the share price negatively thereby destroying shareholder value materially over the last two days. Minority shareholders especially will be feeling the pinch of this value-destruction. As tempting as it may be to jump to conclusions, we should allow justice to take its due course," he added.

On the appointment of Tharumalingam Kanagalingam, better known as Bo Lingam, as the acting CEO of AirAsia in the interim, Devanesan is of the view that a different executive should be appointed.

Besides Fernandes, Bo and a few other AirAsia officials had been implicated in connection with a money laundering case in 2018 in India. According to Indian media reports, India's Enforcement Directorate had filed a case of money laundering against AirAsia officials and others for allegedly trying to manipulate government policies through corrupt means to get international licence for its Indian venture, AirAsia India Ltd.

"It is about erring on the side of caution. Though they have not been found guilty it is better practice for directors who are implicated of criminal offences to take leave of their board positions to create a more conducive atmosphere for the PLC to conduct due investigations. It is unfortunate that all three top-positions have been implicated with allegations," said Devanesan.

Meanwhile, Devanesan is urging investors to base their investment decisions on the fundamentals of the PLCs. "In this case, the evolving situation in relation to the allegations and investigations are part of the fundamentals."

At 2.59pm, AirAsia shares were down 13 sen or 10.16% at RM1.15, with 93.17 million shares done, bringing a market capitalisation of RM3.84 billion. AAX shares were also down 0.5 sen or 4.17% to 11.5 sen, with 19.41 million shares traded, valuing the stock at RM477.04 million.

The FBM KLCI, meanwhile, was up 17.36 points or 1.14% at 1,539.31.

Closed at 1.15, Banyak Wang Dah dimusnahkan. No wonder, mwdg punya head suruh Tony and kamaruddin to step down macam nazir of cimb

Tell Tony and kamaruddin to sell their stakes to khazanah or EPF or other corporate players . Biz model is ok but only corporate governance issue arises

Good proxy to AirAsia , no case of bribery, etc

Also , more people tend to value insurance nowadays

If scare, tune protect is a good proxy. More passengers tend to buy insurance nowadays. Tune protect has nothing to do with the case :)

Wait for results first :)

Wednesday, 27 Feb 2019

6:07PM AIRASIA SECOND INTERIM SINGLE TIER DIVIDEND OF 12 SEN

6:06PM AIRASIA PROVISION OF FINANCIAL ASSISTANCE

6:00PM AIRASIA Financial year end net profit 1.711 billion (increased 8.91%)

Company Name AIRASIA GROUP BERHAD
Stock Name AIRASIA
Date Announced 27 Feb 2019
Category Financial Results

Dividend with results last Feb 27. Mau cut loss apa2 just wait :)

Buy rate 52%, gaining confidence

Below IPO price 1.25, below net assets per share 1.38. gembira? :)

Result will be released this month. With dividend probably

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : INTENTION TO DEAL DURING CLOSED PERIOD
AIRASIA GROUP BERHAD

Type Announcement
Subject DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS)
INTENTION TO DEAL DURING CLOSED PERIOD
Description INTENTION TO DEAL BY DIRECTOR IN SECURITIES OF AIRASIA GROUP BERHAD DURING CLOSED PERIOD
Pursuant to Paragraph 14.08(b) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, AirAsia Group Berhad ("AirAsia") wishes to announce that Tan Sri Anthony Francis Fernandes, a Non-Independent Executive Director and Chief Executive Officer of AirAsia, intends to deal in the securities of AirAsia during the closed period prior to the release of the Fourth Quarter results for the year 2019.



The total number of securities held by Tan Sri Anthony Francis Fernandes as at 23 January 2020 is as follows:-



Type of shareholding

Number of Ordinary Shares in the share capital of the Company

% of the Company's issued capital

Direct Interest*

1,600,000

0.05

Indirect interest





Tune Air Sdn. Bhd. (“TASB”)**

516,485,082

15.45

Tune Live Sdn. Bhd.

(“TLSB”)***

559,000,000

16.73

Total

1,077,085,082

32.23



* Shares held under HSBC Nominees (Tempatan) Sdn. Bhd.



** Shares held under HSBC Nominees (Tempatan) Sdn. Bhd. for TASB.



*** Shares held under Tune Live Sdn. Bhd., RHB Capital Nominees (Tempatan) Sdn. Bhd. and HSBC Nominees (Tempatan) Sdn. Bhd. for TLSB.





This announcement is dated 23 January 2020.

Is he going to buy AirAsia shares again like last time?

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : INTENTION TO DEAL DURING CLOSED PERIOD
AIRASIA GROUP BERHAD

Type Announcement
Subject DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS)
INTENTION TO DEAL DURING CLOSED PERIOD
Description INTENTION TO DEAL BY DIRECTOR IN SECURITIES OF AIRASIA GROUP BERHAD DURING CLOSED PERIOD
Pursuant to Paragraph 14.08(b) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, AirAsia Group Berhad ("AirAsia") wishes to announce that Datuk Kamarudin bin Meranun, a Non-Independent Executive Chairman of AirAsia, intends to deal in the securities of AirAsia during the closed period prior to the release of the Fourth Quarter results for the year 2019.



The total number of securities held by Datuk Kamarudin bin Meranun as at 23 January 2020 is as follows:-



Type of shareholding

Number of Ordinary Shares in the share capital of the Company

% of the Company's issued capital

Direct Interest*

2,000,000

0.06

Indirect interest





Tune Air Sdn. Bhd. (“TASB”)**

516,485,082

15.45

Tune Live Sdn. Bhd.

(“TLSB”)***

559,000,000

16.73

Total

1,077,485,082

32.24



* Shares held under HSBC Nominees (Tempatan) Sdn. Bhd.



** Shares held under HSBC Nominees (Tempatan) Sdn. Bhd. for TASB.



*** Shares held under Tune Live Sdn. Bhd., RHB Capital Nominees (Tempatan) Sdn. Bhd. and HSBC Nominees (Tempatan) Sdn. Bhd. for TLSB.





This announcement is dated 23 January 2020.

AirAsia most positively talked about among young Malaysians, finds YouGov ...
10 Oct 2019 · Meanwhile, social media brands also made their mark in the top 10 list, with ... at PR Asia on 20 November in Kuala Lumpur, Malaysia.
Imagehttps://www.marketwatch.com › mal...
Malaysia : AirAsia named one of Malaysias top employer brands - MarketWatch
7 May 2019 · May 07, 2019 (Euclid Infotech Ltd via COMTEX) -- AirAsia has been named one of the top employer brands in the country at the ..

AirAsia named one of Malaysia's top employer brands. SEPANG, 6 May 2019 - AirAsia has been named one of the top employer brands in the country at the Malaysia Best Employer Brand Awards 2019.May 6, 2019
https://newsroom.airasia.com › ...
AirAsia named one of Malaysia's top employer brands — AirAsia Newsroom

AirAsia emerges again as top brand amongst young Malaysians - YouGov
11 Oct 2019 · Examining the most positively talked about brand amongst those aged 18 to 34.

The Dow Jones Industrial Average rose 143.78 points, or 0.51%, to 28,399.81. The S&P 500 gained 23.4 points, or 0.73%, to 3,248.92 and the Nasdaq Composite added 122.47 points, or 1.34%, to 9,273.40.

NEW YORK: The dollar strengthened and a gauge of global stocks jumped on Monday, lifted by an unexpected rebound in U.S. manufacturing that helped temper fears that caused stocks overnight in Asia to plunge on the potential impact of the coronavirus in China.

Gold fell 1%, retreating from a four-week high, as China's efforts to protect its economy from the virus and the injection of 1.2 trillion yuan ($174 billion) worth of liquidity into the markets helped stem inflows into safe-haven assets.

Oil prices fell. Brent crude fell $2.17 to settle at $54.45 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $1.45 to settle at $50.11 a barrel. Both the global and U.S. benchmarks traded at lows last seen in January 2019.

Good corporate social responsibility :)

KUALA LUMPUR (Feb 3): A special aircraft sent by the Malaysian government on a mission to bring back its 141 citizens, their spouses and children from Wuhan, which has been locked down by the Chinese authorities due to the 2019 novel coronavirus outbreak, left for China this afternoon.

Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail said AirAsia flight AK8264 left for Wuhan at about 3.50pm with 12 crew and eight members of the mission from the Kuala Lumpur International Airport 2 (klia2).

“The aircraft also carried 500,000 pairs of gloves as contribution to the Chinese government in its operations to fight the 2019-nCoV outbreak in the republic,” she said in a statement today.

Azizah, who is also Central Disaster Managament Committee chairman, said all the 141 Malaysian citizens, their spouses and children would be required to go through health screening at the Wuhan Tianhe International Airport, before being allowed to board the plane back to Malaysia.

However, how long the health screening will take, as well as the immigration process and time of departure from Wuhan cannot be determined yet, she added.

Dr Wan Azizah said on arrival in Malaysia, all 167 people onboard (comprising 141 Malaysian citizens, their spouses and children, 12 crew, eight members of the mission and six officers from the Malaysian Embassy in Beijing) would go through another heath screening at the Air Disaster Unit (ADU) of the Kuala Lumpur International Airport (KLIA).

“Those detected with the symptoms will immediately be sent to hospital , while others will be taken by bus to a monitoring centre, where they will undergo observation for 14 days,” she said, adding that the National Disaster Management Agency (NADMA) will inform their families in Malaysia on the flight details, the health screening and the quarantine period.

The research house added that should AirAsia take legal action and seek compensation from Airbus for the damage done to its reputation arising from this controversy, the move should be welcomed as a vote of confidence.

TA Securities opined that the probe against AirAsia will not have any substantial financial impact on the company.

AirAsia has clarified that its aircraft purchase decisions from Airbus were never premised on sponsorships and its sponsorship of Caterham F1 was properly conducted via due internal assessment and approvals before being considered and approved by the board.

AirAsia further stated that aircraft purchase agreements were a collective board’s decision arrived at after careful evaluation and deliberation.

This entails account technical specifications, flight performance and operating economics besides superior reliability and attractive pricing.

www.malaysia-today.net › HEADLINE
Will Ananda Krishnan also be extradited to India? – Malaysia ...
Aug 20, 2019 - India also wants Ananda Krishnan extradited to face charges in India but Dr ... It is also common knowledge that Ananda Krishnan is Dr Mahathir's proxy for the ... Airbus fined billions over bribery

www.freemalaysiatoday.com › category › nation › 2018/07/20
Billionaire Ananda among 12 charged in India over telco

Jul 20, 2018 - PETALING JAYA: Malaysian billionaire T Ananda Krishnan and his ... are facing charges of bribery linked to the Aircel-Maxis scandal in India.

ananda krishnan and maxis, astro juga ok... will be ok. peace with you :) do not fear

www.malaysia-today.net › HEADLINE
Will Ananda Krishnan also be extradited to India? – Malaysia ...
Aug 20, 2019 - India also wants Ananda Krishnan extradited to face charges in India but Dr ... It is also common knowledge that Ananda Krishnan is Dr Mahathir's proxy for the ... Airbus fined billions over bribery: FULL COURT DOCUMENTS.
www.freemalaysiatoday.com › category › nation › 2018/07/20 › billi...
Billionaire Ananda among 12 charged in India over telco ...
Jul 20, 2018 - PETALING JAYA: Malaysian billionaire T Ananda Krishnan and his ... are facing charges of bribery linked to the Aircel-Maxis scandal in India.

See whether history repeats itself or not :)

25 January 2018
AirAsia up 2.9% after Fernandes, Kamarudin said to deal in AirAsia X securities

25 January 2018
Tony Fernandes, Kamarudin Meranun to deal in AirAsia X securities

26 January 2018
AirAsia X up after co says Tony Fernandes, Kamarudin Meranun to deal

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : INTENTION TO DEAL DURING CLOSED PERIOD
AIRASIA GROUP BERHAD

Type Announcement
Subject DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS)
INTENTION TO DEAL DURING CLOSED PERIOD
Description INTENTION TO DEAL BY DIRECTOR IN SECURITIES OF AIRASIA GROUP BERHAD DURING CLOSED PERIOD
Pursuant to Paragraph 14.08(b) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, AirAsia Group Berhad ("AirAsia") wishes to announce that Tan Sri Anthony Francis Fernandes, a Non-Independent Executive Director and Chief Executive Officer of AirAsia, intends to deal in the securities of AirAsia during the closed period prior to the release of the Fourth Quarter results for the year 2019.



The total number of securities held by Tan Sri Anthony Francis Fernandes as at 23 January 2020 is as follows:-



Type of shareholding

Number of Ordinary Shares in the share capital of the Company

% of the Company's issued capital

Direct Interest*

1,600,000

0.05

Indirect interest





Tune Air Sdn. Bhd. (“TASB”)**

516,485,082

15.45

Tune Live Sdn. Bhd.

(“TLSB”)***

559,000,000

16.73

Total

1,077,085,082

32.23



* Shares held under HSBC Nominees (Tempatan) Sdn. Bhd.



** Shares held under HSBC Nominees (Tempatan) Sdn. Bhd. for TASB.



*** Shares held under Tune Live Sdn. Bhd., RHB Capital Nominees (Tempatan) Sdn. Bhd. and HSBC Nominees (Tempatan) Sdn. Bhd. for TLSB.





This announcement is dated 23 January 2020.

AIRASIA Financial Information
Market Capital (RM)
: 4.278b
Number of Share
: 3.342b
Dividend Policy (%)
: 20 Details
NTA (RM)
: 1.380
Par Value (RM)
: 0.100

* Calculated based on the net profit of the trailing twelve months and latest number of shares issued.
^ Total dividend amount declared for financial year ended 2019-12-31.

oversold badly.hope to see recovery tomorrow with the new announcements :)

Recent Prices
Date Open Range Close Change Volume
03/02/2020 1.35 1.27 - 1.35 1.28 -0.15 (10.49%) 57,672,000
31/01/2020 1.45 1.40 - 1.45 1.43 -0.01 (0.69%) 20,418,900
30/01/2020 1.50 1.44 - 1.50 1.44 -0.04 (2.70%) 13,739,400
29/01/2020 1.51 1.47 - 1.52 1.48 -0.02 (1.33%) 11,019,800
28/01/2020 1.50 1.40 - 1.52 1.50 -0.06 (3.85%) 25,629,300
24/01/2020 1.61 1.54 - 1.62 1.56 -0.05 (3.11%) 8,822,200
23/01/2020 1.62 1.60 - 1.62 1.61 0.00 (0.00%) 7,629,000
22/01/2020 1.63 1.61 - 1.64 1.61 -0.02 (1.23%) 7,417,000
21/01/2020 1.65 1.62 - 1.65 1.63 0.00 (0.00%) 6,775,600
20/01/2020 1.66 1.63 - 1.66 1.63 -0.02 (1.21%) 5,659,300
17/01/2020 1.68 1.64 - 1.68 1.65 -0.03 (1.79%) 8,822,600
16/01/2020 1.67 1.66 - 1.68 1.68 +0.02 (1.20%) 2,579,900
15/01/2020 1.68 1.66 - 1.69 1.66 -0.02 (1.19%) 3,314,200
14/01/2020 1.72 1.68 - 1.72 1.68 -0.04 (2.33%) 4,065,500
13/01/2020 1.73 1.69 - 1.73 1.72 +0.01 (0.58%) 5,811,200

:p

Market Cap: 4,278 Million
NOSH: 3,342 Million
Avg Volume (4 weeks): 10,859,390
4 Weeks Range: 1.27 - 1.73
4 Weeks Price Volatility (%):
2.17%
52 Weeks Range: 1.27 - 3.29
52 Weeks Price Volatility (%):
0.50%
Average Price Target: 1.85
Price Target Upside/Downside: +0.57

Goodlah, intention to deal :)

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : INTENTION TO DEAL DURING CLOSED PERIOD
AIRASIA GROUP BERHAD

Type Announcement
Subject DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS)
INTENTION TO DEAL DURING CLOSED PERIOD
Description INTENTION TO DEAL BY DIRECTOR IN SECURITIES OF AIRASIA GROUP BERHAD DURING CLOSED PERIOD
Pursuant to Paragraph 14.08(b) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, AirAsia Group Berhad ("AirAsia") wishes to announce that Datuk Kamarudin bin Meranun, a Non-Independent Executive Chairman of AirAsia, intends to deal in the securities of AirAsia during the closed period prior to the release of the Fourth Quarter results for the year 2019.



The total number of securities held by Datuk Kamarudin bin Meranun as at 23 January 2020 is as follows:-



Type of shareholding

Number of Ordinary Shares in the share capital of the Company

% of the Company's issued capital

Direct Interest*

2,000,000

0.06

Indirect interest





Tune Air Sdn. Bhd. (“TASB”)**

516,485,082

15.45

Tune Live Sdn. Bhd.

(“TLSB”)***

559,000,000

16.73

Total

1,077,485,082

32.24



* Shares held under HSBC Nominees (Tempatan) Sdn. Bhd.



** Shares held under HSBC Nominees (Tempatan) Sdn. Bhd. for TASB.



*** Shares held under Tune Live Sdn. Bhd., RHB Capital Nominees (Tempatan) Sdn. Bhd. and HSBC Nominees (Tempatan) Sdn. Bhd. for TLSB.





This announcement is dated 23 January 2020.

AirAsia Announcement - Independent Board Committee & redesignation of Executive Directors.
Author: Tan KW | Publish date: Mon, 3 Feb 2020, 9:02 PM

Type Announcement
Subject OTHERS
Description AirAsia Group Berhad wishes to announce that the Board of Directors has formed a Non-Executive Independent Board Committee comprising the Non-Executive members of the Board and redesignation of Executive Directors.
AirAsia Group Berhad (“AAGB” or the “Company”) wishes to announce that the Board of Directors (“Board”) has formed a Non-Executive Independent Board Committee (“Committee”) comprising the Non-Executive members of the Board.



AAGB was mentioned in the Approved Judgment and the Statement of Facts in relation to Regina v Airbus SE, dated 31 January 2020 and available in the public domain. The Committee’s main objective will be to review the allegations therein so far as it concerns AAGB, and to take any necessary action based on the review.



AAGB’s Executive Chairman, Datuk Kamarudin bin Meranun, and Chief Executive Officer (“CEO”), Tan Sri Anthony Francis Fernandes, have notified the Committee that they will relinquish their executive positions within the Group, effective immediately, for a period of two (2) months or such other period that the Company may deem fit. The Committee has decided that in view of the current difficult economic circumstances facing the airline industry, to retain them as advisors to the Company during this two (2) month period. As advisors, they will not have executive authority within the Group.



On the recommendation of the Committee, Mr. Tharumalingam a/l Kanagalingam has been appointed as the acting CEO of AAGB in the interim.



Datuk Kamarudin bin Meranun and Tan Sri Anthony Francis Fernandes would be redesignated as the Non-Independent Non-Executive Board Members of AAGB.



All matters in relation to this review will be managed and handled by the Committee.



This announcement is dated 3 February 2020.

Air Asia will recover tomorrow with new Acting CEO in place. Tony and Kamaruddin as non-executive directors only :)

Airasia is a company that negotiates the purchase of planes to the benefits of the company. When the deal is not so sweet, they backed off. Remember that the founders put in another RM1 billion into the company by buying more shares. Their wealth is tied down to Airasia more than the USD50 million behind the scene deal.

MACC is pinning down on the deal, which is not surprising. However, as I believe with Europe trying to be seen as leading on curtailing corruption, their version of what is corrupt may be different to what is in Malaysia for example. To Airasia, as long as the sponsorship deal is above board and given the approval by its Board, it should be acceptable. That is not in EU's playbook. But remember, in bad times, they support their companies all the same.

I believe this is the same issue among many faced by our palm oil companies and seafood producers.

To the authorities here, while Europe or US give us the direction on what is corrupt and what is not, not everything that they do is for our benefits. The size and strength of EU put them on the advantage to define certain issues. But if we play by their book, we are not moving much forward.

This is what is faced by China on the trade war and we should do the same with our companies. I do Not encourage unscrupulous deals by our companies but there are much worse ones that I have seen.

Posted by felicity at 6:20 AM