HLIB said the disposal of Capital A's aviation business to AirAsia X Bhd (KL:AAX) is pending court approval and the transaction is expected to be completed in 1QFY2025.

"It exiting PN17 (Practice Note 17) is expected post-disposal exercise, alongside shareholder and court approval in 1HFY2025," it said.

HLIB maintained its "buy" call on Capital A with an unchanged target price of RM1.68, based on an implied valuation of RM6.8 billion for the aviation business and assuming RM2.15 billion for no