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Market Daily Report: Bursa Malaysia Ends On Softer Note Amid Profit-taking

KUALA LUMPUR, June 22 (Bernama) -- Bursa Malaysia ended on a softer note today as investors engaged in profit-taking following the recent rebound in the local market, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined by 0.65 per cent, or 11.19 points, to 1,700.84 from last Friday's close of 1,712.03. The benchmark index opened 1.56 points lower at 1,710.47 and moved between 1,699.94 and 1,712.32 throughout the trading session. Market breadth was negative, with decliners outnumbering gainers 560 to 481.  A total of 608 counters were unchanged, 1,649 untraded, and 14 suspended. Turnover slipped to 3.29 billion units worth RM2.40 billion from 3.45 billion units worth RM3.79 billion on Friday.
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AirAsia X Proposes RM6.8 Billion Acquisition to Strengthen Aviation Group

AirAsia X Bhd (KL) has issued a comprehensive circular outlining its RM6.8 billion acquisition of Capital A Bhd's (KL) entire equity stake in AirAsia Aviation Group Ltd (AAAGL) and AirAsia Bhd (AAB), for shareholders' review ahead of the extraordinary general meeting set for October 16.

The proposed acquisition is part of a strategic move to create a focused aviation powerhouse, integrating seven airlines across Malaysia, Thailand, Indonesia, the Philippines, and Cambodia. The goal is to position the new aviation group to cover short-, medium-, and long-haul air travel services, tapping into the growing demand for international travel.

According to AAX’s statement, the acquisition will significantly enhance the airline group’s competitive edge and make it more resilient and adaptable in a rapidly recovering global aviation market.

AAX CEO Benyamin Ismail emphasized that the synergies with Capital A’s ecosystem—including digital services, ground handling, and in-flight offerings—would enable the new group to operate more cost-effectively. Additionally, the proposed share capital reduction aims to eliminate accumulated losses, thereby improving AAX’s financial health.

The circular, available on AAX’s website, provides shareholders with detailed information on the various proposals, including the issuance of free warrants, a private placement, and other key components of the acquisition.

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