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CIMB Research retains reduce call on AirAsia Group

KUALA LUMPUR: CIMB Equities Research is maintaining its reduce call on AirAsia Group as oil prices continue to move higher and forecast dividends from the Castlelake transaction may be lower than thought.

AirAsia Group is partially shielded by hedges covering 52% of its oil needs in FY19F with an effective exercise price of c.US$78 of jet fuel and 40% of its oil needs in FY20F at US$60 Brent

Stake sale in troubled Jet Airways may be delayed

NEW DELHI: Lenders to India’s troubled Jet Airways Ltd may have to wait a little longer to sell a stake in the carrier, as they need more clarity from the country’s central bank, the Business Standard newspaper reported yesterday.

Jet, India’s oldest private carrier, is saddled with more than US$1bil in debt, compounding its financial woes and forcing it to ground most of its fleet.

Stake sale in troubled Jet Airways may get delayed

NEW DELHI: Lenders to India’s troubled Jet Airways Ltd may have to wait a little longer to sell a stake in the carrier, as they need more clarity from the country's central bank, the Business Standard newspaper reported on Sunday.

Jet, India's oldest private carrier, is saddled with more than $1 billion in debt, compounding its financial woes and forcing it to ground most of its fleet.

Boeing cuts 737 MAX output in wake of two deadly crashes

CHICAGO/SEATTLE: Boeing Co said on Friday it plans to cut its monthly 737 aircraft production by nearly 20 percent in the wake of two deadly crashes, signaling it does not expect aviation authorities to allow the plane back in the air anytime soon.

Chief Executive Officer Dennis Muilenburg(filepic) said on Friday the company now knows that a chain of events caused both disasters, with erroneous activation of so-called MCAS anti-stall software "a common link" between the two

EPF, PNB not GLCs; only Khazanah, KWAP are: Shahril

KUALA LUMPUR: The Employees Provident Fund (EPF) and Permodalan Nasional Bhd (PNB) should not be classified as government-linked investment companies (GLICs) because their source of funds is money from their members and has nothing to do with the government.

“When you actually look at the question of what is a GLC or GLIC, you have to be very clear on the definition of what really is a GLC.  “I was running the EPF and the point of view is that the EPF should not be a GLC. The source of funds of the EPF and PNB is actually the members’ money. It has nothing to do with the government,” Shahril (pic) said.

Drop in coal, gas prices unlikely to affect electricity tariff

KUALA LUMPUR: The recent drop in global coal and gas prices would not likely affect the electricity tariff in Malaysia as they are still higher than the base prices set during the three-year revision in 2018, says Tenaga Nasional Bhd (TNB).