Tag: corporate

AirAsia X Bhd’s (AAX) net profit for the third quarter ended Sept 30, 2023, fell to RM5.56 million from RM25.09 million registered in the corresponding period last year. However, revenue for the period under review soared to RM648.36 million from RM100.10 million a year ago, the long-haul low-cost airline said in a filing with Bursa Malaysia yesterday. It noted that the company commenced operations during the quarter that ended June 30, 2022, after two years of suspension of scheduled flights, and the majority of the aircraft fleet remained grounded during the quarter ended Sept 30, 2022. “As such, the performance indicators comparison quarter for the quarter is not meaningful. The tabular presentation of revenue and cost metrics in the quarter, therefore, will be presented w...

Berjaya Construction Bhd, the construction arm of Berjaya Land Bhd (BLand), has successfully obtained a $50 million construction loan from Export-Import Bank of Malaysia Berhad (EXIM Bank) for the Four Seasons Resort & Private Residences Okinawa project in Japan. Seikou Okinawa Construction KK, a subsidiary of Berjaya Construction, will spearhead the project as the primary contractor. Berjaya Corp Bhd founder and adviser Tan Sri Vincent Tan expressed, "This venture is more than just building a luxury destination; it’s about contributing to the growth of our nation’s businesses. We are committed to showcasing Malaysia’s expertise in the global market and creating a world-class destination that reflects the best of Malaysia." The Four Seasons Okinawa project, covering 32 ac...

President Ming Maa of Singapore-based Grab Holdings is set to step down from his position at the end of April 2024, as announced by Grab on Tuesday. The departure of Ming Maa, who joined Grab in September 2016, will see him focusing on corporate development responsibilities until his exit, according to Grab's statement. Maa played a crucial role in Grab's merger with Uber's Southeast Asia operations in 2018 and the company's successful public listing on NASDAQ in 2021. Grab clarified that there are no plans to fill the president role, and the responsibilities currently under Maa will be distributed among other leaders within Grab. Ming Maa's planned exit follows the announcement in May by co-founder Tan Hooi Ling, who stated her intention to step down from operational role...

China is considering resuming purchases of Boeing's 737 Max aircraft when the U.S. and Chinese presidents meet this week at the APEC summit, Bloomberg News reported on Sunday, citing people familiar with the matter. Chinese President Xi Jinping is not expected to unveil a formal order for the 737 Max aircraft commitments that are not a firm sale and often take the form of a memorandum of understanding or letter of intent, the report said, adding that the terms of any potential agreement were under discussion and could change or fall apart before the heads of state meet on Wednesday. Boeing is still waiting to resume deliveries of its bestselling 737 MAX to Chinese airlines, more than four years after they were halted following two deadly crashes. The company had said that as of ...