SAPURA CREST AND AIR ASIA again

SapuraCrest Petroleum Bhd’s (SCRES MK, Hold, TP: RM1.32) wholly-owned unit TL Geo Sciences Sdn Bhd (TLGS) is buying the remaining 30% equity stake in TL Geohydrographics Sdn Bhd (TLGH) for RM18m cash. SapuraCrest said TLGS had entered into a sale and purchase agreement with William Adam Petrie (WAP) to buy the 30% shareholding in TLGH. Upon completion of the acquisition, SapuraCrest will wholly-own TLGH. (Financial Daily)

* * * * *
AirAsia Bhd (AIRA MK, Buy, TP: RM1.90) plans to sell the three B737 aircraft it owns as part of a plan to have a fleet comprising only A320s, says group chief executive officer Datuk Seri Tony Fernandes. The airline’s 16 B737 are used by its associate companies in Indonesia and Thailand. The remainder 13 B737 planes will be returned to GE Commercial Aviation Services (GECAS). (Starbiz)

* * * * *