Latest news with #Malaysia-based
The Sun
a day ago
- Business
- The Sun
Malaysia's Wide Agro Ventures, Japan's Orec to invest in Perak production facility, distribution centre
PETALING JAYA: Malaysia-based Wide Agro Ventures Sdn Bhd has sealed a strategic partnership with Orec Co Ltd, a company headquartered in Fukuoka, Japan, to establish a production facility and distribution centre at Seri Iskandar Industrial Park, Perak, with an initial investment of RM30 million. The strategic initiative will significantly expand Malaysia's agricultural production capacity and enhance the sector's productivity, particularly in the palm oil industry, in the coming years. Orec will provide cutting-edge technology to Wide Agro Ventures for the production and distribution of agricultural machinery and equipment in Malaysia and the regional market, strengthening their position as key players in the global machinery and equipment industry. The joint initiative was unveiled through the signing of a memorandum of understanding at the World Expo 2025 in Osaka, Japan, in the presence of senior government officials from both countries. It was witnessed by Datuk Salbiah Mohamed, Perak State Executive Chairman for Women, Family, Social Welfare and Entrepreneur Development (representing Menteri Besar Datuk Seri Saarani Mohamad), Rural and Regional Development Ministry senior division secretary (management services) Datuk Dr Roslan Mahmood, InvestPerak Malaysia CEO Mohamad Hashim Abdul Ghani Mida Osaka director Gulam Muszairi Gulam Mustakim. Saarani, in his message, said Perak is a land of grace with extensive agricultural activity, consisting of palm oil, rubber and paddy. 'Perak's agricultural sector is a significant part of the state's economy, contributing 14.2% to GDP. It plays a vital role in food security and exports, with palm oil being a major export. By producing sophisticated machinery and equipment, it will leapfrog the contribution of this sector by enhancing efficiency and productivity nationwide.' Malaysian Investment Development Authority (Mida) CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid underscored the broader implications of the partnership. 'This strategic partnership marks a timely and impactful investment that will strengthen Malaysia's capabilities in agricultural machinery manufacturing. The Seri Iskandar facility is poised to become a cornerstone in the sector, acting as a catalyst for greater industrial capacity, technology transfer, and export competitiveness. 'By complementing Japanese engineering excellence with Malaysian expertise, we are building a resilient and forward-looking value chain. This will enhance productivity in the palm oil sector and beyond, while opening doors for local talents, businesses and the wider community to thrive. 'Seri Iskandar offers a strategic platform aligned with our national agenda to advance mechanisation and digitalisation in agriculture, and to position Malaysia as a regional hub for high-value machinery manufacturing,' he said. Wide Agro Ventures CEO Ahmad Fadzil Mustafa said the investment marks a significant milestone in the company's journey in Malaysia. 'By expanding our manufacturing capabilities in Perak, we are not only reinforcing our commitment to local industrial development but also advancing our mission to deliver light and sustainable agriculture solutions across the region. We believe in transforming the agriculture sector with better technology, responsibly, sustainably, innovatively, and collaboratively with our partner from Japan.'
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Business Standard
2 days ago
- Business
- Business Standard
AirAsia seeks jets for growth but restructuring first priority: CEO
Airline entrepreneur Tony Fernandes, CEO of AirAsia owner Capital A Group, said on Wednesday he is in talks to buy 50 to 70 Airbus A321XLR jetliners, but signalled the first priority was to complete the group's restructuring. Asia's largest low-cost carrier also remains in talks to buy 100 smaller Airbus A220 or Embraer E2 regional jets but Fernandes, a veteran of eye-catching order announcements, all but ruled out an expected deal at this week's Paris Airshow. "I don't think there'll be an order at this air show. Were still doing a lot of work with Airbus and other (manufacturers).... I think we'll look to do something imminently, in the next 1-3 months," Fernandes told Reuters in an interview. "We want to make sure we clear out of our restructuring. The great thing is, we're back in the growth stage." The Malaysia-based low-cost carrier operates an all-Airbus fleet and is one of Airbus' biggest customers, having staged a series of dramatic air show finales after last-minute talks. The comments came after industry sources said AirAsia was in advanced discussions to place an order for at least 100 Airbus A220 regional jets at the Paris Airshow, with rival Embraer also vying for a chance to win a major breakthrough for its E2 jet. Two industry sources said Airbus had made an "aggressive" offer to boost orders for its A220 and win a launch customer for a new 160-seat version, or kickstart a larger version still on the drawing board, but that barring any further twist in negotiations on Wednesday the talks had stalled partly over financing. "There is no deal," one of the sources said. One of Airbus' biggest customers with over 350 planes on order, AirAsia has not placed an order since the pandemic, but ended a gap in deliveries by taking four Airbus jets last August, marking what it described as a new growth milestone. It has been steadily restructuring its order book as it faced financial difficulties after a slump during COVID-19. The company, hard hit by pandemic travel restrictions, was classified by Malaysia's stock exchange as financially distressed in 2022. It says it hopes to exit this so-called PN17 status by the middle of this year as it pursues a recovery. NETWORK EFFECT Capital A plans to sell its AirAsia aviation business to long-haul unit AirAsia X to consolidate long and short-haul operations under a single AirAsia brand. The group also needs consent letters from creditors, of which it has "virtually all of them," Thai Stock Exchange approval, and to raise new capital. "I am hoping we can wrap up this process in June and complete everything by the end of July .... We are getting closer to my liberation day, not Donald Trump's liberation day," Fernandes said in a play on the nickname for US tariffs. He said new investors had been "locked in," but declined to provide specific details ahead of any formal announcement. Bloomberg reported in March that the Saudi Public Investment Fund was set to invest in AirAsia. "We never confirmed (PIF) or not, but we have all our capital locked in and as soon as we get the consent letters and the Thai Stock Exchange we will announce who the new capital is," Fernandes said. AirAsia has led a boom in low-cost carriers in the region in the past two decades as incomes rose. Such carriers offer bargain fares by driving costs as low as possible, with large fleets of one aircraft type driving efficiencies of scale. Fernandes said the airline was ready to tweak that approach by picking smaller planes in a different category. What does the network need? It needs lots of frequency and it needs the ability to go to more destinations. Fernandes said he is still in discussions with China's COMAC about a potential order for its C919 narrowbody aircraft, though trade tensions between China and the US - which sources say has suspended engine deliveries - remain a possible obstacle. We received an offer from COMAC. The geopolitics don't help ... we need to be confident that that's going to be OK, but it's a good aircraft and well certainly look at it.
The Star
2 days ago
- Business
- The Star
AirAsia owner seeks jets for growth but restructuring first priority, CEO says
Capital A chief executive officer Tan Sri Tony Fernandes. PARIS: The CEO of Capital A Group, Tan Sri Tony Fernandes, said on Wednesday the owner of AirAsia is in talks to buy 50 to 70 Airbus A321XLR jets in coming months, but that the first priority is to complete the group's restructuring. Asia's largest low-cost carrier also remains in talks to buy 100 Airbus A220 or Embraer E2 regional jets but there is unlikely to be any announcement on plane orders at this week's Paris Airshow, he told Reuters in an interview. "I don't think there'll be an order at this air show. We're still doing a lot of work with Airbus and other (manufacturers).... I think we'll look to do something imminently, in the next 1-3 months," Fernandes said. "We want to make sure we clear out of our restructuring. The great thing is, we're back in the growth stage." The Malaysia-based low-cost carrier operates an all-Airbus fleet and is one of Airbus' biggest customers. The comments came after industry sources said AirAsia was in advanced discussions to place an order for at least 100 Airbus A220 regional jets at the Paris Airshow, with rival Embraer also vying for a chance to penetrate the all-Airbus carrier. AirAsia has also had an offer from China's COMAC, Fernandes said. AirAsia has previously said it was looking to add smaller planes for regional routes. One of Airbus' biggest customers with over 350 planes on order, AirAsia has not placed an order since before the pandemic, but ended a gap in deliveries by taking four Airbus jets last August, marking what it described as a new growth milestone. It has been steadily restructuring its order book as it faced financial difficulties. The company, hard hit by pandemic travel restrictions, was classified by Malaysia's stock exchange as financially distressed in 2022. It says it hopes to exit this so-called PN17 status by the middle of this year as it pursues a recovery. Capital A plans to sell its AirAsia aviation business to long-haul unit AirAsia X to consolidate long and short-haul operations under a single AirAsia brand. The group also needs consent letters from creditors, of which it has "virtually all of them," a Thai approval and to raise new capital. "I am hoping we can wrap up this process in June and complete everything by the end of July. We are getting closer and closer," Fernandes said. Fernandes said new investors had been "locked in," but declined to provide specific details ahead of any formal announcement. - Reuters
Deccan Herald
2 days ago
- Business
- Deccan Herald
AirAsia owner seeks jets for growth but restructuring first priority, CEO says
The Malaysia-based low-cost carrier operates an all-Airbus fleet and is one of Airbus' biggest customers.
Time of India
3 days ago
- Business
- Time of India
Indian airline breaks into world's top 3 low-cost carriers at aviation's Oscars 2025
IndiGo secured a spot among the world's top low-cost airlines in the 2025 Skytrax World Airline Awards announced on Tuesday. Malaysia-based AirAsia topped the global rankings, followed by Singapore's Scoot, with IndiGo taking third place. Notably, no Indian airline featured on the list of the world's best full-service carriers, which was topped by Qatar Airways . This marks the ninth time the airline has claimed the top spot in the 26-year history of the Skytrax Awards, often referred to as the Oscars of the aviation industry. Qatar was also named Best Airline in the Middle East, World's Best Business Class, and Best Business Class Airline Lounge. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo ALSO READ: Several Air India, IndiGo flights cancelled today: Here's the full list (Join our ETNRI WhatsApp channel for all the latest updates) The awards come after the airline, established in 1993, announced that it was purchasing up to 210 widebody jets, including 130 Dreamliners, and 30 777-9s from Boeing in a historic order last month. Live Events Singapore Airlines , which has previously won the title of World's Best Airline five times, ranked second this year. It also picked up honours for World's Best Cabin Crew, Best First Class, and Best Airline in Asia. ALSO READ: Air India flight from Phuket to Delhi makes emergency landing after bomb threat Cathay Pacific of Hong Kong secured third place, followed by Emirates from Dubai in fourth, and Japan's ANA All Nippon Airways in fifth. Turkish Airlines came in sixth, while South Korea's Korean Air and France's Air France took the seventh and eighth spots respectively. Japan Airlines ranked ninth, and China's Hainan Airlines completed the top 10. 'We welcomed back a large number of previous winners and were also delighted to see new faces and airlines represented here today,' said Edward Plaisted, CEO of Skytrax. ALSO READ: World's least liveable cities in 2025 revealed 'As is indicated by so many former winning airlines being awarded again, quality consistency is clearly well recognized by customers when they vote for these airlines.' The 'wholly independent and impartial' awards, which began in 1999, saw votes gathered from surveys of around 22.3 million customers, with more than 325 airlines featured this year. Around 500 representatives from airlines around the world attended the gala event in the restored Art Deco terminal of the original Le Bourget Airport, based at the heart of the Paris Air Show, including presidents, CEOs and airline crew. World's Top 20 Airlines In 2025 1. Qatar Airways 2. Singapore Airlines 3. Cathay Pacific 4. Emirates 5. ANA All Nippon Airways 6. Turkish Airlines 7. Korean Air 8. Air France 9. Japan Airlines 10. Hainan Airlines World's Best Low-Cost Airlines 2025 1. AirAsia 2. Scoot 3. Indigo 4. Eurowings 5. Vueling Airlines 6. Volotea 7. Transavia 8. Iberia Express 9. Flynas 10. easyJet
