Hot Stocks Shares of AirAsia, AirAsia X ease up on confidence in SEC

by **Cals** Thu 27 Aug 2015, 14:25

Hot Stocks
Shares of AirAsia, AirAsia X ease up on confidence in SEC

GEORGE TOWN (Aug 27): After a stretch of downward trend, shares of AirAsia Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) andAirAsiaX Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rebounded on news of the Special Economic Committee (SEC) appointed by Prime Minister Datuk Seri Najib Razak yesterday.
At 11.01am, AirAsia Bhd rose six sen or 7.69% to 84 sen after paring gains at 6.5 sen with 93,480,300 shares changing hands, giving it a market capitalisation of RM2.17 billion while AirAsia X (fundamental: 0.2; valuation: 0.9) expanded 6.67% or one sen to 16 sen, with 6,463,000 shares done, and a market capitalisation of RM622.22 million.
Remisier Sam Ng said investors were feeling positive regarding the SEC that was set up to address currency and economic matters.
“Investors believe that the team is made up of experienced economists who will come up with good fund policies. There are two persons from Khazanah Nasional Bhd on board.
“People are viewing this committee positively, hence the confidence shown in the market today. AirAsia (fundamental: 0.2; valuation: 1.8) and its subsidiary's shares are seen as being linked to the efforts of the government,” he told theedgemarkets.com.
The committee, largely seen as a power packed team to turn around the economy, is made up of Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar who heads the team; CIMB Group Holdings Bhd ([You must be registered and logged in to see this image.]Financial Dashboard) chairman Datuk Seri Nazir Razak; Khazanah deputy chairman and former second finance minister Tan Sri Nor Mohamed Yakcop; and Khazanah managing director Tan Sri Azman Mokhtar.
Also appointed are Association of Banks in Malaysia chairman Datuk Abdul Farid Alias, who is also chief executive officer (CEO) at Malayan Banking Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), and China Banking Regulatory Commission chief adviser Tan Sri Andrew Sheng Len Tao.
Joining them are Symphony Life Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) chief executive Tan Sri Mohamed Azman Yahya,RAM Holdings Bhd CEO Datuk Seri Dr K Govindan, Universiti Kebangsaan Malaysia vice-chancellor Professor Datuk Dr Noor Azlan Ghazali and Federation of Malaysian Manufacturers president Datuk Seri Saw Choo Boon.
Najib said several officers from the Finance Ministry, Bank Negara Malaysia, the International Trade and Industry Ministry, the Securities Commission Malaysia and the Prime Minister’s Office would also be included in the committee line-up.
[size=12](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.)[/size]