Liquidation is the process in accounting by which a company is brought to an end. The assets and property of the business are redistributed. When a firm has been liquidated, it is sometimes referred to as wound-up or dissolved , although dissolution technically refers to the last stage of liquidation. The process of liquidation also arises when customs , an authority or agency in a country responsible for collecting and safeguarding customs duties , determines the final computation or ascertainment of the duties or drawback accruing on an entry.
66-474: Capital A Berhad ( MYX : 5099 ), operating as AirAsia (stylized as airasia ) is a Malaysian multinational low-cost airline headquartered near Kuala Lumpur , Malaysia. Established in 1993 and commencing operations in 1996, the airline is the largest in Malaysia by fleet size and destinations. It operates scheduled domestic and international flights to over 166 destinations across 25 countries. Its primary hub
132-430: A retail chain may wish to close some of its stores. For efficiency's sake, it will often sell these at a discount to a company specializing in real estate liquidation instead of becoming involved in an area it may lack sufficient expertise in to operate with maximum profitability. A company may also operate in a "receivership-like" state but calmly sell its assets, for example to prevent its portfolio being written off in
198-516: A demutualized exchange and was renamed Bursa Malaysia in 2004. It consists of a Main Board, a Second Board and MESDAQ (now ACE Market) with total market capitalization of ( USD $ 397.39 billion). On 7 May 2024, Bursa Malaysia hit RM2 trillion in market capitalisation for the first time. Liquidation Liquidation may either be compulsory (sometimes referred to as a creditors' liquidation or receivership following bankruptcy , which may result in
264-404: A discretion for a period of time after dissolution to declare the dissolution void to enable the completion of any unfinished business. In some jurisdictions, the company may elect to simply be struck off the companies register as a cheaper alternative to a formal winding-up and dissolution. In such cases an application is made to the registrar of companies, who may strike off the company if there
330-588: A five-year plan designed to strengthen the airline's presence across Asia. The strategy focused on enhancing connectivity between existing destinations and expanding into new markets such as Vietnam , Indonesia , Southern China and India . As part of this effort, Kota Kinabalu became a hub on 7 July 2006, followed by Kuching on 20 July 2006. These initiatives led to a significant increase in passenger traffic, with AirAsia carrying about 13.9 million passengers in 2007, compared to 5.7 million in 2006. AirAsia expanded its offerings further in 2009 by launching Redbox,
396-454: A former executive at Time Warner (now known as Warner Bros. Discovery ), saw an opportunity to transform AirAsia into a low-cost carrier, inspired by the success of airlines such as Southwest Airlines and Ryanair . This acquisition marked a turning point in AirAsia’s history, setting the stage for its reinvention as a budget airline . After the acquisition, Fernandes and his team rebranded
462-671: A joint venture agreement to establish AirAsia Cambodia, with AirAsia owning majority of the airline. The airline commenced operations on 2 May 2024. AirAsia India was the Indian affiliate of AirAsia. The airline was announced as a joint venture between AirAsia, Arun Bhatia, and Tata Sons on 19 February 2013. It commenced operations on 12 June 2014. The airline is headquartered in Chennai , with its primary hub at Kempegowda International Airport , Bangalore . In November 2020, AirAsia reviewing its India operations run in partnership with Tata Sons signalling
528-586: A key global aviation hub . As part of this expansion strategy, the airline aims to increase its fleet size from 79 to 92 aircraft by the end of 2024, while boosting daily flights from 230 to 258. Additionally, AirAsia plans to add eight new destinations to its network, bringing the total number of destinations to 106, up from 98. To support its operational growth, AirAsia is considering acquiring up to 100 smaller regional aircraft to enhance its fleet diversity and efficiency. Discussions are underway with Airbus , Comac and Embraer , with potential options including
594-472: A key player in the global aviation industry. AirAsia was established on December 20, 1993, by DRB-HICOM , a Malaysian government-owned conglomerate , as a full-service carrier. The airline commenced operations on November 18, 1996, with its inaugural flight from Kuala Lumpur to Langkawi , utilising a Boeing 737-300 . In its early years, AirAsia faced challenges such as high operating costs and competition from established carriers like Malaysia Airlines . By
660-598: A key role in AirAsia’s expansion strategy. In 2003, Thai AirAsia was founded, and in 2005, Indonesia AirAsia was launched. These affiliates allowed the airline to enter new markets, strengthening its regional presence across Southeast Asia. By the end of 2006, AirAsia’s fleet had seen substantial growth, consisting of 35 Boeing 737-300s and eight Airbus A320s . Additionally, the airline placed orders for 100 more Airbus A320 aircraft, which helped increase its capacity and frequency of flights, supporting its expanding network. In late 2006, AirAsia's CEO Tony Fernandes introduced
726-598: A leader in in-flight services . Between 2015 and 2019, AirAsia continued its expansion strategy, both by launching new routes and growing its affiliate network. Notably, the airline established Philippines AirAsia in 2012 and AirAsia India in 2013. However, despite several attempts, AirAsia's plans to enter the Chinese and Vietnamese market with its own airline were eventually abandoned after facing multiple setbacks. During this period, AirAsia continued to earn accolades for its service quality, further solidifying its position as
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#1733084800362792-820: A leading low-cost airline. The airline was awarded the title of World's Best Low-Cost Airline by Skytrax for an impressive eleven consecutive years, from 2009 to 2019. The COVID-19 pandemic had a profound impact on the global aviation industry , and AirAsia was no exception. In March 2020, the airline suspended most of its flights due to travel restrictions , resulting in significant revenue losses. This unprecedented situation forced AirAsia to rapidly adapt in order to survive. The airline grounded its fleet and implemented various cost-cutting measures, including layoffs and salary reductions for employees. AirAsia also focused on maintaining liquidity by securing loans and receiving government support. During this challenging period, AirAsia accelerated its digital transformation. In late 2020,
858-487: A leading low-cost carrier, connecting more regions and catering to a broader, international customer base. AirAsia has rapidly expanded its domestic and international network since its rebranding as a low-cost carrier in 2001. The airline's primary hub is located at Kuala Lumpur International Airport (KLIA) , where it operates a substantial portion of its flights. AirAsia operates a broad domestic network within Malaysia, connecting numerous cities and regional hubs across
924-491: A person for the appointment of a liquidator and possibly of a supervisory liquidation committee. The person appointed by the holder of a floating charge debenture over a company’s assets to collect in and realise the assets of that company and to repay the indebtedness to the debenture holder. Administrative receivers can no longer be appointed by floating charge holders with the exception of floating charges created prior to 15 September 2003. Voluntary liquidation occurs when
990-664: A possible exit from the country. The airline was later sold to Tata Sons in 2022, making it a wholly-owned subsidiary of Air India Limited . The airline merged with Air India Express in 2023. AirAsia Japan was the Japanese low-cost airline affiliate of AirAsia based in Nagoya and formerly in Narita . The airline was first announced as a joint venture between AirAsia and All Nippon Airways in 2011. It flew its first flight in August 2012. The joint venture
1056-470: A setback for AirAsia's ambitions to strengthen its domestic market . Despite this, the airline remained committed to its strategy of expanding its regional and international networks. In 2014, AirAsia made another significant advancement by becoming the first Malaysian airline to offer onboard Wi-Fi services through its subsidiary, Tune Box. This innovation responded to the increasing demand for connectivity among travelers, reinforcing AirAsia's reputation as
1122-673: A significant player in the regional and international aviation markets, catering to both business and leisure travelers. In addition to its primary operations at KLIA’s low-cost terminal, AirAsia (Malaysia) has developed secondary hubs to enhance regional connectivity. These hubs include Penang International Airport which acts as a gateway in northern Peninsular Malaysia , Kota Kinabalu International Airport and Kuching International Airport facilitating travel in Malaysian Borneo and Senai International Airport in Johor Bahru , which serves
1188-710: A significant recovery from its previous financial challenges. The airline focused on point-to-point routes and utilised secondary airports, which helped lower operational costs and improve overall efficiency. Between 2003 and 2006, AirAsia embarked on a rapid expansion of its routes and infrastructure. In December 2003, the airline established a second hub at Senai International Airport in Johor Bahru , expanding its operational reach. AirAsia also began its international operations with flights to Phuket in December 2003, followed by services to Bangkok in February 2004. By April 2005,
1254-619: A single set of prices on both boards. The Malaysian Stock Exchange was formally formed in 1964, and in the following year, with the separation of Singapore from Malaysia , the stock exchange continued to function under the Malaysian and Singapore Stock Exchange (MSSE). In 1973, with the termination of currency interchangeability between Malaysia and Singapore, the SEMS was separated into the Kuala Lumpur Stock Exchange Bhd (KLSEB) and
1320-465: A voluntary winding-up of a company has begun, a compulsory liquidation order is still possible, but the petitioning contributory would need to satisfy the court that a voluntary liquidation would prejudice the contributors. The liquidator will normally have a duty to ascertain whether any misconduct has been conducted by those in control of the company which has caused prejudice to the general body of creditors. In some legal systems, in appropriate cases,
1386-572: Is Kuala Lumpur International Airport (KLIA), where it utilizes Terminal 2, the low-cost carrier terminal. AirAsia has a network of affiliate airlines catering to regional markets, including Thai AirAsia , Indonesia AirAsia , Philippines AirAsia and AirAsia Cambodia , which have bases in cities including Bangkok , Jakarta , Manila and Phnom Penh . AirAsia X , the airline’s long-haul subsidiary, primarily serves long-distance routes. Together, these carriers form an extensive network connecting Southeast Asia with other parts of Asia, Australia and
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#17330848003621452-426: Is a breach of an understanding that all of the members may participate in the business, or of an implied obligation to participate in management. An order might be made where the majority shareholders deprive the minority of their right to appoint and remove their own director. Once liquidation commences (which depends upon applicable law, but will generally be when the petition was originally presented, and not when
1518-445: Is held by the company on trust for third parties will not form part of the company's assets available to pay creditors. Before the claims are met, secured creditors are entitled to enforce their claims against the assets of the company to the extent that they are subject to a valid security interest . In most legal systems, only fixed security takes precedence over all claims; security by way of floating charge may be postponed to
1584-613: Is leasing the land that will be occupied by the headquarters. An AirAsia X flight attendant gave the building the name "RedQuarters" or "RedQ", and its groundbreaking ceremony was held in November 2014. In May 2017, AirAsia planned to open a subsidiary company in Cambodia to handle an increase of tourists from Malaysia visiting to the Cambodian cities of Phnom Penh , Siem Reap and Sihanoukville . On 9 December 2022, AirAsia and Sivilai Asia signed
1650-408: Is made by a board resolution, but instigated by the director(s). 75 percent of the company's shareholders must agree to liquidate for liquidation proceedings to advance. If a limited company’s liabilities outweigh its assets, or the company cannot pay its bills when they fall due, the company becomes insolvent. If the company is solvent , and the members have made a statutory declaration of solvency,
1716-399: Is more beneficial to start again by creating a new company, often referred to as a phoenix company . In business terms this will mean liquidating a company as the only option and then resuming under a different name with the same customers, clients and suppliers. In some circumstances it may appear ideal for the directors; however, if they trade under a name which is the same or substantially
1782-445: Is reasonable cause to believe that the company is not carrying on business or has been wound-up and, after enquiry, no case is shown why the company should not be struck off. However, in such cases the company may be restored to the register if it is just and equitable so to do (for example, if the rights of any creditors or members have been prejudiced). In the event the company does not file an annual return or annual accounts, and
1848-609: Is the Red Quarters (RedQ) at Kuala Lumpur International Airport in Sepang , Selangor . This facility also serves as the company's registered office . The airline has moved its head office to a new 56,985.1 m (613,383 sq ft), RM140mil facility constructed at klia2 on 7 November 2016. Until the new head office opened, the airline's head office was located in the KLIA LCCT. The new klia2 head office has been scheduled to open at
1914-414: Is to collect its assets, determine the outstanding claims against the company, and satisfy those claims in the manner and order prescribed by law. The liquidator must determine the company's title to property in its possession. Property which is in the possession of the company, but which was supplied under a valid retention of title clause will generally have to be returned to the supplier. Property which
1980-642: The Airbus A220 , Comac C919 and Embraer E2 families. These aircraft would complement AirAsia's existing Airbus A320 and A321 aircraft, enabling the airline to better serve secondary routes and adapt to market demands. Looking beyond the immediate future, AirAsia’s long-term vision focuses on expanding its reach to strategic markets across the Pacific and East Asia , with further ambitions to enter Africa, Europe and North America by 2030. This global expansion strategy underscores AirAsia's aim to enhance its position as
2046-683: The Airbus A320 family . In June 2011, AirAsia ordered 200 Airbus A320neos at the Paris Air Show . The planes were originally due to become available in 2015, and the deal was one of the largest ever for commercial aircraft in a single order. The deal was worth US$ 18 billion at list prices, although AirAsia will have obtained a substantial discount from those prices. The deal makes AirAsia Airbus' single biggest customer. On 13 December 2012, AirAsia placed an order for an additional 100 Airbus A320 jets, splitting it between 64 A320neo and 36 A320ceo. At
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2112-592: The Securities Commission of Malaysia , the stock exchange regulates the capital market in Malaysia and, through its facilities, upholds the duty to manage and maintain order in the trading of stocks, bonds and derivatives. Bursa Malaysia was established in 1930, when the Singapore Stockbrokers Association became an official organization of securities in Malaya . In 1937, it was re-registered as
2178-602: The Stock Exchange of Singapore (SES). Malaysian companies continued to be listed on SES and vice versa. A new company limited by guarantee, The Kuala Lumpur Stock Exchange (KLSE) took over operations of KLSEB as the stock exchange. In 1994, it was renamed Kuala Lumpur Stock Exchange. It also fully suspended the trading of CLOB (Central Limit Order Book) counters, indefinitely freezing approximately US$ 4.47 billion worth of shares and affecting 172,000 investors, most of them Singaporeans. Kuala Lumpur Stock Exchange (KLSE) became
2244-625: The World Travel Awards 2024 for World’s Leading Low-Cost Airline for the 12th consecutive year and World’s Leading Low-Cost Airline Cabin Crew for the eighth time. The airline has been instrumental in establishing Kuala Lumpur International Airport as a leading low-cost carrier hub. The 2024 OAG Megahubs Index placed KLIA as the world’s second-most connected airport after London-Heathrow , offering more than 14,500 potential low-cost connections. AirAsia accounts for 43% of all flights at KLIA and 74% of
2310-402: The preferential creditors . Claimants with non-monetary claims against the company may be able to enforce their rights against the company. For example, a party who had a valid contract for the purchase of land against the company may be able to obtain an order for specific performance , and compel the liquidator to transfer title to the land to them, upon tender of the purchase price. After
2376-765: The A321neo variant. With this order, the total number of orders that AirAsia had placed for the Airbus A320 family climbed to 592, reaffirming the carrier's position also as the largest airline customer for the Airbus single aisle product line. However, as a consequence of the COVID-19 pandemic on aviation, the orders for the new A320 family of aircraft were reworked by mutual agreement between AirAsia and Airbus in October 2021, with deliveries now scheduled to extend to 2035, among other undisclosed changes in purchase terms. AirAsia formerly operated
2442-567: The Farnborough International Air Show in 2016, AirAsia ordered 100 A321neos at an estimated cost of US$ 12.6 Billion dollars at list prices. AirAsia planned to fly these larger aircraft to airports that had infrastructure constraints. AirAsia received its first A320neo in September 2016. At the 2019 Farnborough Air Show, AirAsia further increased its orders for A320 aircraft, in the process also becoming Airbus' largest customer for
2508-593: The Middle East. In 2007, The New York Times described AirAsia as a pioneer of low-cost travel in Asia. The airline is known for its innovative approaches, including introducing ticketless travel through online bookings in 2002. AirAsia has earned numerous accolades, including being named the World’s Best Low-Cost Airline by Skytrax for 15 consecutive years, with the latest recognition in 2024. It also won
2574-632: The Stockbrokers' Association of Malaya, but it still did not trade public shares. In 1960, the Malayan Stock Exchange was formed and public trading started on 9 May that year. In 1961, a board system was introduced in two trading places, one in Singapore and one in Kuala Lumpur. The two trading rooms were linked by direct telephone lines into a single market with the same stocks and shares listed at
2640-446: The airline as a low-cost carrier on January 15, 2002. This strategic shift involved adopting a no-frills service model, enabling AirAsia to offer fares that were significantly lower than those of its competitors, particularly Malaysia Airlines. Promotional fares began as low as MYR 10 (approximately US$ 2.63), which attracted a large number of passengers . In its first year under the low-cost model, AirAsia achieved profitability, marking
2706-531: The airline further broadened its network by adding Manila and Xiamen to its destinations. AirAsia was also quick to embrace technological advancements, becoming a pioneer in the region. In 2002, the airline introduced ticketless travel via online bookings , becoming the first airline in Asia to do so. This innovation revolutionized ticket purchasing. Additionally, the airline launched SMS booking services, allowing customers to book flights directly from their mobile phones. The growth of affiliate airlines played
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2772-1114: The airline launched the Airasia Super App, diversifying its business model beyond air travel to include services such as food delivery , e-commerce and logistics. This move was aimed at adapting to changing consumer behaviors and maintaining a steady revenue stream in the face of reduced air travel. As vaccination rates increased and travel restrictions began to ease in 2021, AirAsia gradually resumed its operations. The airline restarted domestic flights within Malaysia in April 2021, focusing initially on rebuilding its domestic network before reintroducing international routes. By late 2022, AirAsia began reinstating international routes, prioritizing key markets within ASEAN and beyond. The airline targeted popular destinations in Thailand, Indonesia and India to restore its pre-pandemic network. AirAsia's recovery continued throughout 2022, as demand for travel rebounded. By
2838-563: The airport’s low-cost carrier capacity, operating 112 international and 14 domestic routes. Beyond aviation, AirAsia has sponsored various sports teams, including the Malaysia national football team , Singapore national football team , Jamshedpur FC and Queens Park Rangers in England. The airline has also supported major events, such as the Asia leg of Taylor Swift 's Red Tour . With its extensive network and strategic partnerships, AirAsia remains
2904-459: The company's affairs, the liquidator must call a final meeting of the members (if it is a members' voluntary winding-up), creditors (if it is a compulsory winding-up) or both (if it is a creditors' voluntary winding-up). The liquidator is then usually required to send final accounts to the Registrar and to notify the court. The company is then dissolved. However, in common jurisdictions, the court has
2970-440: The company's file remains inactive, in due course, the registrar will strike the company off the register. Under the corporate insolvency laws of a number of common law jurisdictions, where a company has been engaged in misconduct or where the assets of the company are thought to be in jeopardy, it is sometimes possible to put a company into provisional liquidation , whereby a liquidator is appointed on an interim basis to safeguard
3036-490: The country. Key destinations include major cities like Kuala Lumpur, Penang, Kota Kinabalu and Kuching. Internationally , AirAsia operates numerous routes across Southeast Asia and beyond, offering destinations in countries such as Thailand, Indonesia, the Philippines, Singapore and mainland China. The airline has also expanded into other regions, including India and Australia. This broad network has enabled AirAsia to become
3102-498: The court creating a "liquidation trust"; or sometimes a court can mandate the appointment of a liquidator e.g. wind-up order in Australia) or voluntary (sometimes referred to as a shareholders' liquidation or members' liquidation , although some voluntary liquidations are controlled by the creditors). The term "liquidation" is also sometimes used informally to describe a company seeking to divest of some of its assets. For instance,
3168-620: The court makes the order), dispositions of the company's generally void , and litigation involving the company is generally restrained. Upon hearing the application, the court may either dismiss the petition or make the order for winding-up. The court may dismiss the application if the petitioner unreasonably refrains from an alternative course of action. The court may appoint an official receiver, and one or more liquidators , and has general powers to enable rights and liabilities of claimants and contributories to be settled. Separate meetings of creditors and contributories may decide to nominate
3234-669: The creation of a new entity, AirAsia Group Berhad, was proposed, but by August 2024, the decision was made to directly acquire AirAsia and AAAGL instead. This acquisition, expected to be finalized by the end of 2024, is projected to provide access to over 200 aircraft and 361 future aircraft orders from Capital A's aviation portfolio, integrating narrow-body and wide-body aircraft into a unified fleet. This enhanced fleet aims to improve operational efficiency, expand service offerings and bolster AirAsia’s competitive position across key market segments. In late 2024, AirAsia outlined ambitious plans to position Kuala Lumpur International Airport as
3300-683: The end of 2015. The former registered office was on level 13 of the Menara Prima Tower B in Petaling Jaya . RedQ is scheduled to hold about 2,000 AirAsia and AirAsia X employees. Aireen Omar, the AirAsia Country CEO of Malaysia, stated that the headquarters needed to be redesigned because in the klia2 plans the location of the control tower had been changed. Construction on the facility was scheduled to begin in July 2014. Malaysia Airports Holdings
3366-444: The end of the year, the airline had carried approximately 9.95 million passengers. In 2023, AirAsia significantly increased its capacity, with a nine-fold increase in available seats compared to the previous year. This expansion was driven by the resumption of routes and the addition of new aircraft to its fleet. Additionally, the airline expanded its international network by reintroducing routes between Thailand and China, capitalizing on
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#17330848003623432-458: The event of an actual compulsory liquidation. The parties which are entitled by law to petition for the compulsory liquidation of a company vary from jurisdiction to jurisdiction, but generally, a petition may be lodged with the court for the compulsory liquidation of a company by: The grounds upon which an entity can apply to the court for an order of compulsory liquidation also vary between jurisdictions , but normally include: In practice,
3498-492: The following aircraft: AirAsia offers "Santan" menu, with options to buy on board offering food, drinks, merchandise and duty free for purchase. Pre-purchase of "Santan" meals is available at a lower price than on board, and with additional options AirAsia is accredited by the KL Syariah Index of Bursa Malaysia, and in accordance with Shariah principles, it does not serve alcohol or pork . However, this applies only to
3564-514: The global aviation downturn after the September 11 attacks . By September 2001, AirAsia’s debt had risen to around US$ 11 million, leaving the company on the brink of collapse . On September 5, 2001, Tony Fernandes and Kamarudin Meranun acquired AirAsia through their company Tune Air Sdn Bhd for a nominal sum of one ringgit (approximately US$ 0.26), taking on its considerable liabilities. Fernandes,
3630-480: The growing demand from travelers eager to visit these popular destinations. On 8 January 2024, AirAsia X signed a non-binding agreement with Capital A to fully acquire AirAsia Bhd and AirAsia Aviation Group Limited (AAAGL), which oversees AirAsia’s affiliates outside Malaysia. The plan involves merging AirAsia Malaysia, Indonesia AirAsia , Philippines AirAsia and AirAsia Cambodia under the AirAsia X brand. Initially,
3696-420: The late 1990s, AirAsia had accumulated substantial debts, amounting to approximately MYR 40 million (around US$ 10.5 million). Efforts to stabilise the airline included route expansion, leasing aircraft for Hajj charters and internal discussions about potential management changes. However, these initiatives were insufficient to address the airline's structural issues. The situation deteriorated further following
3762-446: The liquidation will proceed as a members' voluntary liquidation (MVL). In that case, the general meeting will appoint the liquidator(s). If not, the liquidation will proceed as a creditors' voluntary liquidation, and a meeting of creditors will be called, to which the directors must report on the company's affairs. Where a voluntary liquidation proceeds as a creditors' voluntary liquidation, a liquidation committee may be appointed. Where
3828-407: The liquidator may be able to bring an action against errant directors or shadow directors for either wrongful trading or fraudulent trading . The liquidator may also have to determine whether any payments made by the company or transactions entered into may be voidable as a transaction at an undervalue or an unfair preference . The main purpose of a liquidation where the company is insolvent
3894-401: The members of a company resolve to voluntarily wind up its affairs and dissolve. Voluntary liquidation begins when the company passes the resolution, and the company will generally cease to carry on business at that time (if it has not done so already). A creditors’ voluntary liquidation (CVL) is a process designed to allow an insolvent company to close voluntarily. The decision to liquidate
3960-447: The position of the company pending the hearing of the full winding-up petition. The duty of the provisional liquidator is to safeguard the assets of the company and maintain the status quo pending the hearing of the petition; the provisional liquidator does not assess claims against the company or try to distribute the company's assets to creditors. In the UK, many companies in debt decide it
4026-505: The regional AirAsia group flights, and not to the AirAsia X flights, which do sell wine and beer on board. AirAsia is taking the first steps towards starting its own frequent-flyer programme . The airline has signed an agreement to start a joint venture with financial services firm Tune Money to launch a programme called "BIG". Under this programme, it will issue loyalty points to AirAsia customers and third-party merchants. Points can then be used to redeem AirAsia flights. The head office
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#17330848003624092-409: The removal of all assets which are subject to retention of title arrangements, fixed security, or are otherwise subject to proprietary claims of others, the liquidator will pay the claims against the company's assets. Generally, the priority of claims on the company's assets will be determined in the following order: Unclaimed assets will usually vest in the state as bona vacantia . Having wound-up
4158-475: The southern region of Peninsular Malaysia and provides convenient access to and from Singapore . Together, these hubs play a vital role in supporting AirAsia’s extensive network, ensuring that the airline can efficiently serve its domestic and international markets. As of July 2024, AirAsia Malaysia operates the following aircraft: Previously operating the Boeing 737-300 , AirAsia has now completely converted to
4224-508: The vast majority of compulsory winding-up applications are made under one of the last two grounds. An order will not generally be made if the purpose of the application is to enforce payment of a debt which is bona fide disputed. A "just and equitable" winding-up enables the grounds to subject the strict legal rights of the shareholders to equitable considerations. It can take account of personal relationships of mutual trust and confidence in small parties, particularly, for example, where there
4290-402: The world’s first low-cost courier service . The same year, the airline began flights from Penang to Hong Kong , adding Penang as another hub in its network. In 2011, AirAsia entered into a controversial share swap agreement with Malaysia Airlines, aiming to reduce competition between the two carriers. However, due to regulatory concerns, this partnership was dissolved in early 2012, marking
4356-677: Was terminated in June 2013, which led to the airline ceasing operations on 27 October 2013. Bursa Malaysia Bursa Malaysia is the stock exchange in Malaysia . It is one of the largest bourses in ASEAN . It is based in Kuala Lumpur and was previously known as the Kuala Lumpur Stock Exchange (KLSE). It provides full integration of transactions, offering a wide range of currency exchange and related services, including trading, settlement, clearing and savings services. Along with
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