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Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
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AirAsia Resumes Jet Operations from Subang Airport with 14 Weekly Flights to Sabah and Sarawak

AirAsia, a low-cost airline under Capital A Bhd, has commenced 14 weekly flights from Subang Airport in Selangor to Sabah and Sarawak using Airbus A320 narrow-body aircraft, starting from August 30. This marks a return to Subang Airport for AirAsia, which initially launched its operations there 24 years ago.

Key Highlights:

  1. Return to Subang Airport: Reintroducing narrow-body aircraft at Subang Airport is part of a broader initiative to modernize the airport into a vibrant city terminal catering to business travelers, as explained by Capital A CEO Tan Sri Tony Fernandes. The move is expected to enhance connectivity within Malaysia and the region.

  2. Expansion Plans: Fernandes expressed optimism about the growth potential of Subang Airport, anticipating it will become a popular hub for travelers. AirAsia plans to rapidly expand its operations from Subang, leveraging its status as Malaysia's largest airline by capacity, with 40 domestic routes and 1,860 return weekly flights by the end of 2024.

  3. Current Operations and Market Position: In 2023, AirAsia carried over 14 million guests on its domestic network, which included 918 weekly flights. The airline's operations at Subang Airport are part of a broader initiative involving other carriers like Firefly, TransNusa, and Scoot, which are also launching jet services from Subang.

  4. Subang Airport Regeneration Plan: Subang Airport has historically handled only propeller-driven aircraft since 1998. However, the Subang Airport Regeneration Plan (SARP), announced in April 2021 by Malaysia Airports Holdings Bhd, aims to transform the facility into a city airport capable of handling around five million passengers annually, with an investment of RM1.3 billion.

As of Friday, Capital A shares fell by two sen or 2.5% to 77 sen, giving the company a market valuation of RM3.32 billion.

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