KLSE:AAX

Malaysian Shares Extend Gains, Bucking Regional Losses

Malaysian shares ended in the green on Monday, extending Friday's gains. The investors remained upbeat, bucking a downbeat regional trend.The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 6.95 points to end 0.4% higher at 1,698.44.In corporate news, Low-cost airline AirAsia X (KLSE:AAX) changed its name to AirAsia Group, effective July 14. Meanwhile, the company's ordinary shares moved to the stock short name AAGB from AAX. Shares slid about 2% on Monday's close.Lim Seong Hai Capital's (KLSE:LSH) subsidiary, Astana Setia Development, signed a sale and development agreement with Railway Assets for two land parcels in Subang Jaya, Malaysia. Shares slid over 1% on today's close.Sime Darby Property's (KLSE:SIMEPROP) subsidiary, SDP Klang, had a 78.6 million ringgit compensation award set aside by the Shah Alam High Court on July 10, following an objection by highway authority Lembaga Lebuhraya Malaysia. The original 2015 compensation package for the compulsory acquisition of land for the West Coast Expressway totaled 169.3 million ringgit.

AirAsia X Changes Name to AirAsia Group

Low-cost airline AirAsia X (KLSE:AAX) changed its name to AirAsia Group, effective July 14, according to a Monday filing with the Malaysian Exchange.Meanwhile, the company's ordinary shares moved to the stock short name AAGB from AAX.

AirAsia X Changes Name to AirAsia Group

AirAsia X's (KLSE:AAX) name has officially changed to AirAsia Group with effect from July 2, after receiving a Notice of Registration of New Name from the Companies Commission of Malaysia, according to a Thursday Malaysian bourse filing.The company said it received the notice on July 6, following its issuance by the Companies Commission on July 2.The name change follows the proposal announced in April and shareholder approval obtained at the company's annual general meeting.

Market Chatter: AirAsia X Postpones Bahrain Hub Launch to August Amid Middle East Turmoil

AirAsia X (KLSE:AAX) has pushed back the launch of its Bahrain hub to August or September, citing regional instability, after missing its initial June target for the Kuala Lumpur-Bahrain-London route, Reuters News reported on Monday, citing its Group CEO, Bo Lingam.The carrier stressed that the final start date hinges on market dynamics and operational readiness, while reaffirming Bahrain's long-term importance to its network, the news wire said.In a separate statement, the airline said it would continue to assess geopolitical shifts and prioritize flights that support long-term earnings growth, the statement read.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Public Investment Bank Downgrades AirAsia X to Neutral from Outperform; Price Target is MYR1.29

Malaysian Shares Snap Five-Day Winning Streak, Mirroring Regional Losses

Malaysian shares closed lower on Friday, halting a five-day winning streak, mirroring a weak regional trend as investors locked in profits.The FTSE Bursa Malaysia KLCI shed 10.79 points to end 0.6% lower at 1,748.06. The day range was between 1,748.06 and 1,760.19.In economic news, Malaysia's Industrial Production Index rose 3.1% year on year in March, maintaining the same growth in the month prior, according to data released by the Department of Statistics Malaysia (DOSM). The increase was supported by stronger manufacturing activity, which expanded 5.5% compared with 4.2% in the previous month, alongside a 4.9% increase in electricity output.Meanwhile, Malaysia's Services Producer Price Index rose 2.1% year on year in the first quarter, accelerating from a 1% rise in the previous quarter, according to data released by the DoSM.In corporate news, shares of AirAsia X (KLSE:AAX) slid over 2% at close, as its unit Asia Aviation Capital agreed to buy 150 Airbus A220-300 aircraft from Airbus in a deal valued at about $19 billion.Lotte Chemical Titan (KLSE:LCTITAN) posted a wider first-quarter loss despite a 70% jump in revenue. The loss widened as higher depreciation and financing costs from its Indonesia ethylene project weighed on earnings. Shares ended flat.

AirAsia X Unit to Buy Airbus Aircraft for About $19 Billion

AirAsia X (KLSE:AAX) unit Asia Aviation Capital agreed to buy 150 Airbus A220-300 aircraft from Airbus in a deal valued at about $19 billion, according to a Thursday Malaysian bourse filing.Shares fell over 2% in Friday's midday trade.The aircraft are scheduled for delivery from 2028 through 2039, with the group retaining an option to increase the order to 300 aircraft to meet future demand.AirAsia X said the A220 aircraft will support its transition into a low-cost network carrier by enabling it to serve smaller and high-growth markets more efficiently.The airline added the jets are expected to reduce fuel burn and emissions by about 20% compared with previous-generation aircraft.The group also entered into engine supply and maintenance agreements with Pratt & Whitney for the aircraft's PW1521G-3 engines, the filing said.