AirAsia exceeds foreign ownership limit

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Malaysian low-cost carrier AirAsia's foreign ownership limit has been exceeded, the carrier disclosed in a statement on the Malaysian stock exchange.

As of 28 June, the total level of foreign ownership was 52%, above the 45% prescribed limit, the carrier said.

In accordance with national regulations, foreigner shareholders whose holdings are within the prescribed limit will maintain their full rights, while those that have exceeded the limit will not be able to exercise voting rights.

AirAsia was listed on Bursa Malaysia in November 2004 following a ringgit (M$) 863 million ($227 million) initial public offering.