AirAsia In Trading Halt After Auditor Highlights “Likely Problem” Uncertainty 

NDTV News

AirAsia on Monday posted its greatest very first-quarter reduction considering the fact that its listing in November 2004

Shares in Malaysia’s AirAsia Group Bhd had been halted on Wednesday after its auditor mentioned there ended up content uncertainties that cast question on the finances carrier’s capability to continue on as a likely worry. In an unqualified audit view on the airline’s earnings final results for 2019 issued late on Tuesday, Ernst & Young PLT said the economic statements were being organized on a heading issue basis – which is dependent on a restoration from the COVID-19 pandemic and the good results of fundraising endeavours.

AirAsia on Monday posted a 803.3 million ringgit ($188 million) loss for the three months ending March 31, its greatest initially-quarter decline considering the fact that its listing in November 2004.

The corporation said final month it was analyzing proposals for increasing funds to improve its equity base and liquidity.

Organization administration has guided that an fairness elevating by way of a placement or rights problem looks imminent, Affin Hwang Money analyst Isaac Chow wrote in a take note to consumers on Tuesday.

AirAsia associates did not promptly react to a request for comment.

AirAsia claimed on Monday there have been ongoing deliberations for joint ventures and collaborations that may end result in added third celebration investments in unique segments of the group’s business enterprise.

The investing halt is thanks to be lifted from 0630 GMT (12:00 midday in India), a release to the exchange mentioned.

($1 = 4.2750 ringgit)

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Cory Weinberg

About the author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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