Shares in AAX, AirAsia active in morning trade on BigPay prospects
KUALA LUMPUR (Dec 9): Airsia X Bhd (AAX) and AirAsia Group Bhd jumped this morning in active trade after AirAsia announced that it will likely clinch the final approval for its lending business, BigPay, by the first quarter ending March 31, 2021.
At 11.42am, shares in AAX jumped 42.86% or three sen to 10 sen, valuing the stock at RM418.81 million. It saw some 908.04 million shares traded, almost 28 times its 200-day average volume of 32.59 million. The stock was the most actively traded stock as at the time of writing.
Meanwhile, shares in AirAsia — the third top active stock — rose 5.68% or five sen to 93 sen, with a market value of RM3.09 billion. The stock saw some 131.87 million shares change hands, exceeding its 200-day average volume of 41.57 million.
The group said yesterday that it already received provisional approval from the Housing and Local Government Ministry in mid-November to provide online loans under a community credit licence.
Besides, AirAsia also confirmed that it was exploring opportunities for a local airline presence in IndoChina, as mentioned in its third-quarter earnings press release recently.
A Bloomberg report quoted AirAsia chief executive officer Tan Sri Tony Fernandes on Monday as saying that air travel was expected to return to pre-Covid-19 levels in the next six to 12 months.
In the same report, he also said AAX was more of a medium-haul airline rather than a long-haul one, and that it had a good future.
Comments