Malaysia's AirAsia swung to a profit in the third quarter on higher passenger numbers and cost-cutting measures. South-east Asia's largest budget airline by fleet size reported on Friday a net profit of RM130.1 million ($53.4 million) for the three months ended Sept 30, compared with a loss of RM465.5 million in the corresponding period a year earlier. Revenue rose 4.5 per cent to RM739.7 million.
Bursa-listed AirAsia plans to seek a listing in Thailand, after the Thai bourse earlier this month agreed to allow foreign companies to list from Dec 1, chief executive Tony Fernandes said on Friday.
The carrier also plans to have its shares traded in Indonesia, he added. Mr Fernandes declined to say how much the carrier sought to raise in the multiple listings. AGENCIES
Mainboard-listed water treatment firm Hyflux will invest $120 million over the next three to five years to set up a global headquarters and production plant in Singapore.
The Hyflux Innovation Centre will be built on a 1.7ha site in Bendemeer and is expected to have a gross floor area of about 32,000 sq m. The design, R&D and commercialisation centre will spearhead development of advanced membrane technologies.
Hyflux will also expand the production capacity in terms of membranes and process engineering systems. The new Hyflux Production Hub, which is located in Tuas, will span about 7.7ha. Both sites will be developed in phases.
Mainboard-listed Olam International has made it onto the 2009 list of 25 Global Top Companies for Leaders. The list was compiled following a study of organisational leadership by Hewitt Associates, The RBL Group and Fortune. It's the first Singapore company to be placed on the list.
Hewitt says Olam impressed the judges by demonstrating passionate executive support for leadership development.
In addition, it also stood out for its focus on experiential learning techniques.
The survey is conducted biennially by Hewitt to identify factors that allow successful organisations to consistently produce outstanding leaders.
Japan's government highlighted on Friday the danger of deflation for the first time in more than three years, warning that falling prices and a further worsening of the labour market could drag on the weak recovery. The statement about deflation, coming in the Cabinet's monthly economic report, shows that Japanese leaders are clearly worried about the trend, which comes amid hopeful signs of recovery in exports and industrial production. It is the first time since Aug 2006 that the report identified deflation as a problem.
The comments underscore the government's growing rift with the central bank, which on Friday upgraded its assessment of the country's economy for the third month running while keeping its key interest rate unchanged at 0.1 per cent. AGENCIES