KUALA LUMPUR (March 30): Aviation stocks Capital A Bhd (formerly known as AirAsia Group Bhd) and Malaysia Airports Holdings Bhd (MAHB) gained, two days ahead of the much anticipated reopening of the country on April 1.
Capital A and MAHB had jumped by 10.21% and 6.52% to an intraday high of 75.5 sen and RM6.86, after opening at 68.5 sen and RM6.44 respectively on Wednesday (March 30).
At 4.30pm pre-market close, MAHB was the top gainer of the day despite paring some gains to trade at RM6.80 per share while Capital A was the second-most actively traded stock with 133.09 million shares changing hands.
This came after Prime Minister Datuk Seri Ismail Sabri announced earlier this month on March 8 that Malaysia will transition into an endemic phase effective April 1.
The move will see Malaysia reopening borders for fully-vaccinated international travellers from all countries without quarantine by requiring only pre-departure and on-arrival testing, with the latter to be performed within 24 hours of arrival.
Containment measures — such as business operating hours and reduced employee capacity at workplaces — which had been in place since March 18, 2020 at the onset of the pandemic will also be lifted on April 1. Read more