March 30, 2011

AIRASIA - HDBSVR: AirAsia fully valued at RM2.65

Stock Name: AIRASIA
Company Name: AIRASIA BHD
Research House: HWANGDBS

KUALA LUMPUR: Hwang DBS Vickers Research said AirAsia is fully valued at RM2.65 and had a price target of RM2 for the low-cost carrier.

It was commenting on AirAsia's tie-up'' with Expedia Inc to set up an online travel agency that has three main brands -- AirAsiaGo, GoRooms and Expedia.

AirAsia announced on Tuesday, March 29 the JV would be equally owned by both parties and AirAsia's initial investment in the JV will be up to US$10 million (RM30 million) which will be funded by internal funds.

Expedia is the world's largest online travel company with Australia and Japan being their strongest markets in Asia.

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