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MarketScreener Homepage  >  Equities  >  BURSA MALAYSIA  >  AirAsia Group    AIRASIA   MYL5099OO006

AIRASIA GROUP

(AIRASIA)
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AirAsia : Malaysia's AirAsia secures $72 million loan from Sabah Development Bank

10/23/2020 | 07:59am EST
FILE PHOTO: Airasia planes are seen parked at Kuala Lumpur International Airport 2, amid the coronavirus disease (COVID-19) outbreak in Sepang

KUALA LUMPUR (Reuters) - Malaysia's AirAsia Group Bhd has approved and disbursed a 300 million ringgit ($72 million) loan from Sabah Development Bank Berhad to its units as part of the group's fundraising efforts, the budget airline said in a bourse filing on Friday.

The airline said the loan was not backed by a government guarantee, which the group has been seeking for a portion of the loans it hopes to secure.

AirAsia has been looking to raise as much as 2.5 billion ringgit by the end of the year, 1.5 billion ringgit of which could be in bank loans.

AirAsia said the loan was to fund specific development projects as agreed by the airline and the bank, including 170 million ringgit to establish and operate a digital food supply chain and cold chain facilities in the state of Sabah.

The rest will part-finance a project to turn the capital city airport into an international hub for AirAsia's operations, enhance e-commerce platforms and marketability of Sabah products and promote tourism destinations on AirAsia's platform.

"The main purpose of the loan is to enhance logistics in Sabah by increasing its supply chain and connectivity, creating over 100,000 new jobs in the process," it said.

($1 = 4.1550 ringgit)

(Reporting by Liz Lee; Editing by Mark Potter)


© Reuters 2020
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Financials
Sales 2020 5 313 M 1 299 M 1 299 M
Net income 2020 -2 489 M -609 M -609 M
Net Debt 2020 13 678 M 3 344 M 3 344 M
P/E ratio 2020 -0,98x
Yield 2020 -
Capitalization 2 373 M 580 M 580 M
EV / Sales 2020 3,02x
EV / Sales 2021 1,71x
Nbr of Employees 21 059
Free-Float 59,1%
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Mean consensus UNDERPERFORM
Number of Analysts 18
Average target price 0,51 MYR
Last Close Price 0,71 MYR
Spread / Highest target -1,41%
Spread / Average Target -28,6%
Spread / Lowest Target -81,7%
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Managers
NameTitle
Tharumalingam Kanagalingam Chief Executive Officer
Adrian Jenkins Chief Operating Officer
Pattra Boosarawongse Group Chief Financial Officer
Kin Choy Lau Group Head-Information & Communication Technology
Nadzri Hashim Head-Engineering
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