AirAsia downgraded to 'sell'
AirAsia Bhd, Southeast Asia’s biggest budget carrier, was downgraded to “sell” from “hold” at Maybank Investment Bank Bhd, which said slower profit growth may prompt write-offs.
The share price estimate for the stock was reduced to RM1.15 from RM1.33, Maybank Investment said in a report today. -- Bloomberg
10:15AM: AIRASIA still unchanged..its a buying if touch RM1.15
MASwings poised to take off in BIMP EAGA
TOULOUSE, France: Commuter airline MASwings, which currently only serves the travel needs of Sabah and Sarawak, is banking on expanding its services to the BIMP EAGA region by October this year, said managing director Datuk Salleh Tabrani.
(BIMP EAGA refers to Brunei, Indonesia, Malaysia, the Philippines, East Asean Growth Area.)
The move, it is hoped, will create a growth driver for the Malaysia Airline’s wholly owned and loss-making subsidiary. Some 75% of its routes under the Rural Air Services (RAS) are not commercially viable but are undertaken as a social obligation whereby the Government subsidises the losses.
BANK NEGARA MAY HIKE RATES FURTHER
KUALA LUMPUR, March 15 — Bank Negara will consider raising interest rates at its next policy meeting after a 25-basis-point hike earlier this month, Governor Zeti Akhtar Aziz told Bloomberg.
“We will review the conditions at our next monetary policy meeting and work towards further normalising if necessary,” Zeti said in an interview that the news agency said was held last week and published on Monday.Malaysia became the third Asian central bank to hike rates when it raised its policy rate off record lows to 2.25 per cent to prevent asset bubbles forming. — Reuters
1:00PM: KLCI was down to 1300.20pt
5:35PM: KLCI down to 1299.67pt
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