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Your career - our specialty.
"Naresh Kumar Sagar"

Waste-to-Fuels Conference & Trade Show
September 16-18, 2012
Mystic, Connecticut, USA

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2012 Conference Registration
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Early Bird Registration Deadline: 07/31/2012

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KUALA LUMPUR, 2 May 2012 – Tune Air Sdn Bhd (“Tune Air”) today announced the reversal of the share swap with Khazanah Nasional Berhad (“Khazanah”) while continuing to support collaboration between AirAsia Berhad (“AirAsia), AirAsia X Sdn. Bhd. (“AirAsia X”) and Malaysia Airline System Berhad (“MAS”).
Tune Air Director Dato’ Kamarudin Meranun said: “We continue to believe in the ability of the collaboration to create value for all shareholders and ultimately to benefit passengers.  Furthermore, we feel that the collaboration will enable all three companies to be better prepared in facing in a more competitive environment following the implementation of the ASEAN Open Skies framework.”
In August 2011, a Comprehensive Collaboration Framework (“CCF”) was established to enable AirAsia, AirAsia X and MAS to explore opportunities to co-operate on a broad range of areas so as to leverage on their respective core competencies and optimise efficiencies. As part of the CCF, Tune Air and Khazanah entered into a share swap agreement to align the interests of the primary shareholders of AirAsia and MAS, thereby strengthening the potential for collaboration.
Dato’ Kamarudin added, "In the eight months since the CCF was launched, we have seen good progress in furthering the collaboration. Even with the unwinding of the share swap, which is to remove any distraction from ongoing efforts at the three airlines, we expect the collaboration initiatives to continue and we will do everything in our capacity as major shareholders of AirAsia to support this."
“Although the share swap has to be unwound, the collaboration over the past eight months has brought MAS and AirAsia closer together. Ten years of non-collaboration and unnecessary struggle between us had come to an end and we are now able to focus on our markets and core competencies,” said Kamarudin.
The unwinding of the share swap will see Tune Air transfer its 20.5% stake or 685,142,000 ordinary shares in MAS back to Khazanah while Khazanah will transfer its 10% stake or 277,650,600 ordinary shares in AirAsia back to Tune Air.
This transaction will be conducted based on the prices at the time the share swap was announced in August 2011, where MAS was valued at RM1.60 per share and AirAsia’s share at RM3.95. No cash will change hands.
Pursuant to this, the nominee directors of Tune Air on MAS’ Board of Directors (“Board”) and Khazanah’s nominee director on AirAsia’s Board will resign immediately.
Dear N K Sagar,

Vol. 8 Week 18 | 2 May 2012    

Coca-Cola, Nokia, State Street, UBS, Swire, Kulim and CLP are supporting CSR Asia Summit 2012

CSR Asia Summit 2012 is scheduled for 18-19 September 2012 in Beijing, China and expected to be the biggest ever. The agenda is developing fast and new features have been added to maximize networking opportunities. Check out our keynote speaker lineup at the summit website now.

CSR Asia is recruiting Membership Coordinator

CSR Asia is recruiting a proactive, passionate and committed individual for the role of Membership Coordinator to support our Strategic Partner Programme and the Community Investment Roundtable.

If you looking to get experience in the CSR profession, and has a desire to expand the remit of the role to undertake research and provide support for our partners, please find a detailed job description here.


Employee volunteering

Companies in Malaysia are actively involved in community investment, one of the key components of their corporate social responsibility (CSR) strategy. Community investment compromises a company’s contribution ... Read more

BoP boom in Japan Part II

On 16 April 2012, JICA (Japan International Cooperation Agency) announced 19 projects selected for a study initiative titled, “Preparatory Survey for BoP business promotion”. This third announcement (the results for the first ... Read more

Do your partners really share your mission?

When companies align their CSR initiatives with their core business expertise the result tends to be more strategic and sustainable. At a recent series of CSR Forums that CSR Asia organized in Thailand, Vietnam, Malaysia and the ... Read more

AEC 2015 needs business to step up and close equality gap

The plans for regional economic integration of the ASEAN member countries by 2015 include equitable economic development as one of the goals for the ASEAN Economic Community (AEC). There is some concern ... Read more


The Energy Efficiency Programme Office (E2PO) and Siemens will be undertaking a first-of-its-kind study in Singapore, as part of efforts to ...

Read more

The Urban Renaissance Agency (UR), an independent administrative agency in Japan, announced on January 20, 2012, that it will revise ...

Read more

Training - "Investing for Impact: Tools and Approaches for Community Investment"
May 29, 2012
Hong Kong

Training - "Reporting and Communications "
June 5, 2012

Training - "Investing for Impact: Tools and Approaches for Community Investment"
June 6, 2012

CSR Asia Summit 2012
September 18-19, 2012

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Opinions reflected in the articles are those of the author and do not necessarily reflect the views of CSR Asia.

Copyright © 2012, CSR Asia. All rights reserved

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