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Hot Stock AirAsia falls 9% below book value
by Cals Tue 16 Jun 2015, 20:55
Hot Stock
AirAsia falls 9% below book value
KUALA LUMPUR (June 16): AirAsia Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) extended losses to trade at a discount to its book value, despite top executives' effort to allay investors' concerns on the budget airline's financials.
AirAsia's (fundamental: 0.2; valuation:0.8) shares fell as much as 16 sen or 9% to RM1.63, before paring losses. This compares to the company's latest reported book value of RM1.68 a share.
At 3.47pm today, AirAsia's shares traded at RM1.65, with some 25 million shares having changed hands. The stock was the fifth most-actively transacted entity across Bursa Malaysia.
Shares of AirAsia had fallen about 38% this year, underperforming the FBM KLCI's 2% decline.
Yesterday (June 15), AirAsia closed two sen lower at RM1.79.
AirAsia shares declined after Hong Kong-based GMT Research questioned AirAsia’s accounting, profit generation, cash flow, leverage and group structure.
AirAsia's group chief executive officer Tony Fernandes dismissed GMT's report as “garbage”. Fernandes said AirAsia top executives had met institutional investors to explain the issues.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
AirAsia falls 9% below book value
KUALA LUMPUR (June 16): AirAsia Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) extended losses to trade at a discount to its book value, despite top executives' effort to allay investors' concerns on the budget airline's financials.
AirAsia's (fundamental: 0.2; valuation:0.8) shares fell as much as 16 sen or 9% to RM1.63, before paring losses. This compares to the company's latest reported book value of RM1.68 a share.
At 3.47pm today, AirAsia's shares traded at RM1.65, with some 25 million shares having changed hands. The stock was the fifth most-actively transacted entity across Bursa Malaysia.
Shares of AirAsia had fallen about 38% this year, underperforming the FBM KLCI's 2% decline.
Yesterday (June 15), AirAsia closed two sen lower at RM1.79.
AirAsia shares declined after Hong Kong-based GMT Research questioned AirAsia’s accounting, profit generation, cash flow, leverage and group structure.
AirAsia's group chief executive officer Tony Fernandes dismissed GMT's report as “garbage”. Fernandes said AirAsia top executives had met institutional investors to explain the issues.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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