AirAsia announced (15-Jan-2010) 50.36% of the issued and paid-up share capital of the carrier were held by foreigners as at 31-Dec-2009, thus exceeding the 45% limit of the carrier's total issued and paid-up share capital. Pursuant to the Securities Industry (Central Depositories) (Foreign Ownership) Regulations 1996, shares held by foreigners which are within the Prescribed Limit shall be entitled to all rights and entitlements attached to the shares. However, shares held by foreigners which have exceeded the limit shall also be entitled to all such rights and entitlements, except for the exercise of voting rights. [more]
AirAsia announces foreign ownership exceeds limits
You may also be interested in the following articles...
Malaysia Airlines restructuring Part 2: 23% international ASK cut enables AirAsia to overtake MAS
Malaysia Airlines (MAS) is cutting international seat capacity by about 18% in Aug-2015 as the ailing flag carrier restructures its network ahead of the 1-Sep-2015 transition to a new company. International ASKs are being reduced by about 23% as the medium and long haul networks have seen bigger reductions than operations within Asia with the new MAS seeking to leverage its strong regional position.
Australia accounts for about 30% the seats and about 40% of the ASKs being removed from the MAS international network in Aug-2015. Europe accounts for about 10% of the seats and 20% of the ASKs being removed in Aug-2015 but the cuts to Europe are much steeper when also factoring in the May-2015 suspension of services to Frankfurt.
In Sep-2015 MAS will for the first time have a fewer international ASKs than the AirAsia/AirAsia X groups. AirAsia’s short-haul Malaysian subsidiary will also overtake MAS as Malaysia’s largest international carrier on a seat basis. On a group level AirAsia already has more international seats in Malaysia and has been the domestic leader for several years.
AirAsia moves to Changi Airport’s new hybrid Terminal 4. Perhaps a new hub for its Fly-Thru product
AirAsia has signed up as the anchor tenant for Changi Airport’s T4, a new hybrid terminal which is slated to open in 2017. AirAsia expects to reduce its operating costs significantly in Singapore as it moves from T1 to T4, giving it a better foundation to allow it potentially to resume expansion in Singapore.
AirAsia grew rapidly in Singapore from 2008 through 2013 but cut capacity in 2014 as market conditions became extremely challenging. Lower operating costs, driven by automation of passenger services, and incentive packages should make it easier for AirAsia to add capacity on some of its 15 existing routes from Singapore and launch new routes.
AirAsia could also potentially use T4 as a transit hub by introducing its Fly-Thru product in the Singapore market. Although it is not a hub or base Changi is AirAsia’s third largest airport. Only Kuala Lumpur and Bangkok have more AirAsia seats than Singapore.