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Kossan, Maxis, Axiata, Capital A, AAX, Aeon Credit, Kelington, Inta Bina, Media Prima and Carimin

Here is a brief recap of some corporate announcements that made news on Wednesday (Nov 2), involving Kossan Rubber Industries Bhd, Maxis Bhd, Axiata Group Bhd, Capital A Bhd, AirAsia X Bhd, Aeon Credit Service (M) Bhd, Kelington Group Bhd, Inta Bina Group Bhd, Media Prima Bhd and Carimin Petroleum Bhd.

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S&P places Tata Group companies on creditwatch positive

Singapore, August 20 (ANI): S&P Global Ratings on Friday placed the long-term issuer and issue credit ratings on Tata Steel Ltd, Tata Motors, ABJA Investment Co Pte Ltd, TML Holdings Pte Ltd and Jaguar Land Rover Automotive Plc on creditwatch with positive implications.

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AirAsia to sell 32.67% stake in its Indian operations for RM153 mil

AirAsia to sell 32.67% stake in its Indian operations for RM153 mil
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AirAsia Group sells 32.67% stake in Indian operations to partner Tata Sons

Fernandes (left) collecting food from AirAsia Food merchant JoshiJosh
PETALING JAYA: AirAsia Group Bhd’s wholly owned subsidiary AirAsia Investment Ltd is disposing of a 32.67% stake in AirAsia (India) Ltd (AAI) to its joint venture partner Tata Sons Pte Ltd for US$37.66 million (RM152.58 million).
According to its Bursa filing, the transaction includes a call option for the group’s remaining 16.33% stake in AAI, exercisable by Tata at any time after the disposal is completed, for US$18.83 million (RM76.29 million). The deal includes a put option exercisable by AirAsia in two tranches, March 1 to May 30, 2022 and Oct 1 to Dec 31, 2022.
The budget airline said the proceeds from the disposal will be used as working capital for first-quarter 2021.

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