INDONESIA MAY CANCEL AIRASIA'S ACQUISITION OF BATAVIA AIR

  • Take second job to tackle household debt, urges AKPK – Bernama
    Take second job to tackle household debt, urges AKPK – Bernama

    The Credit Counseling and Debt Management Agency (AKPK) has urged Malaysians to take a second job to help them tackle the high rate of household debt. Chief executive officer Koid Swee Lian (pic) said those in the teaching line, for example, could give extra classes to earn more money. "Teachers could earn more money by giving tuition to... …

  • International team probing MH370 to be finalised next week, Hishammuddin says
    International team probing MH370 to be finalised next week, Hishammuddin says

    KUALA LUMPUR, April 23 — Malaysia expects to finalise by next week the list of members on the independent team of experts commissioned by Putrajaya to carry out an extensive probe on the... …

  • Kelantan yet to decide on special sitting to discuss Hudud law – Bernama

    The Kelantan government has yet to make any decision if it was necessary to convene a special state legislative assembly sitting to discuss the proposed implementation of Hudud law in the state. Menteri Besar Datuk Ahmad Yakob said the state government would think carefully if the government needed to call for such a meeting. "We will see if... …

  • Pre-lim report to ICAO not public, yet

    Malaysia has yet to decide on whether the preliminary report on the MH370 incident submitted to the International Civil Aviation Organisation (ICAO) will be made public.   "We have issued the preliminary report... to ICAO but we have not made a decision to release to media or the public," Department of Civil Aviation Chief Azharuddin Abdul Rahman said during a press conference in Kuala Lumpur.   Asked again on why it will not be released to public, although it is common practice, he reiterated: …

  • Absolute power corrupts absolutely, Dr Mahathir reminds current leaders
    Absolute power corrupts absolutely, Dr Mahathir reminds current leaders

    Malaysian leaders have been reminded not to look down on the public’s capability to topple a corrupt government as what had happened in the Middle East during the Arab spring, warned Tun Dr Mahathir Mohamad (pic). In his latest blog posting today, the country’s longest serving prime minister said that monarchs and dictators in the Middle East... …

  • Cabinet approves international probe team for MH370
    Cabinet approves international probe team for MH370

    Putrajaya today announced the formation of an international investigation team to probe the disappearance of Malaysia Airlines flight MH370, which went missing on March 8. Acting Transport Minister Datuk Seri Hishammuddin Hussein (pic) said Cabinet approved the establishment of the team at its meeting today. "The Transport Ministry has been... …

JAKARTA, July 29 (Bernama) -- The Indonesian government may cancel the

acquisition of local airline Batavia Air by Malaysia''s AirAsia Bhd and its

Indonesian partner, if the transaction breaches the ownership limit imposed on

foreign companies in national airlines.

The English weekly, Sunday Post, qouted the Director General of Indonesian

Transportation Ministry Herry Bhakti Gumay as saying that AirAsia and

its partner in the acquisition, PT Fersindo Nusaperkasa, had yet to report

their acquisition to the ministry.

“We will give Batavia, AirAsia and Fersindo Nusaperkasa one month to

report their plan to us. We will cancel the acquisition process if Indonesia is

not the majority shareholder," Herry was quoted saying.

Herry also said the ministry would not hesitate to revoke Batavia Air’s

flight permit.

AirAsia and its Indonesian partner Fersindo, owner of a 51 per cent stake in

Indonesia AirAsia (IAA), signed an agreement on Thursday to buy Metro Batavia,

the owner of Batavia Air, for US$80 million (Rp 756 billion).

According to the acquisition plan, AirAsia would own a 49 per cent stake in

Metro, while Fersindo the remaining 51 per cent in order to comply

with Indonesia''s ownership rule.

Seventy-six per cent of the shares are due to be purchased this year and the

remainder by 2013, the weekly reported.

Previously, AirAsia Group CEO, Tan Sri Tony Fernandes, had said in a

statement that the Batavia Air acquisition was a fantastic opportunity for

AirAsia to accelerate its growth plans in one of the most exciting aviation

markets in Asia; and that it further underlined its belief in the growth

potential of Indonesia’s aviation sector.--BERNAMA

AFY SD

Follow @YahooMalaysia on LINE for daily news updates.

Comments on Yahoo pages are subject to our link to Comments Guidelines. You are responsible for any content that you post. Yahoo is not responsible or liable in any way for comments posted by its users. Yahoo does not in any way endorse or support comments made by its users.

  • MH370 passenger’s partner tells of strange email from sacked Fox officer The Malaysian Insider
    MH370 passenger’s partner tells of strange email from sacked Fox officer

    The partner of an American passenger aboard the missing Malaysia Airlines flight MH370 has spoken about how a Fox executive who was recently sacked by the news station had contacted her offering to raise funds on her behalf. Sarah Bajc, whose partner Philip Wood is among the 239 people on board the missing plane, told the Sydney Morning Herald... …

  • Dr Ling’s son chose wine over woman, court hears The Malaysian Insider
    Dr Ling’s son chose wine over woman, court hears

    The son of former MCA president Tun Dr Ling Liong Sik today reached an out of court settlement with his ex-girlfriend in a breach of contract suit over seven properties registered under their joint names. Ling Hee Leong and businesswoman Teh Chee Yen agreed to settle out of court after he took the stand briefly and testified that he had chosen... …

  • MB: Only 29 days of water left in Selangor Malaysiakini

    Although heavy rain led to flash floods in parts of the Klang Valley yesterday, the Selangor government has said that taps will run completely dry in 29 days if rationing is not continued. "For now, we must continue with rationing as the level at the main dam, the Sungai Selangor dam, is below the critical level and can only last 29 days if rationing is not conducted," Menteri Besar Abdul Khalid Ibrahim said in a statement.   "We really hope the rakyat understands this situation and supports …