<p class="bodytext">Shares in Malaysia's AirAsia Group Bhd were halted on Wednesday after its auditor said there were material uncertainties that cast doubt on the budget carrier's ability to continue as a going concern.</p>.<p class="bodytext">In an unqualified audit opinion on the airline's earnings results for 2019 issued late on Tuesday, Ernst & Young PLT said the financial statements were prepared on a going concern basis - which is dependent upon a recovery from the COVID-19 pandemic and the success of fundraising efforts.</p>.<p class="bodytext">AirAsia on Monday posted a 803.3 million ringgit ($188 million) loss for the three months ending March 31, its biggest first-quarter loss since its listing in November 2004.</p>.<p class="bodytext">The company said last month it was evaluating proposals for raising capital to strengthen its equity base and liquidity.</p>.<p class="bodytext">Company management has guided that an equity raising via a placement or rights issue looks imminent, Affin Hwang Capital analyst Isaac Chow wrote in a note to clients on Tuesday.</p>.<p class="bodytext">AirAsia representatives did not immediately respond to a request for comment.</p>.<p class="bodytext">AirAsia said on Monday there were ongoing deliberations for joint ventures and collaborations that might result in additional third party investments in specific segments of the group's business.</p>.<p class="bodytext">The trading halt is due to be lifted from 2.30 p.m. local time (0630 GMT), a release to the exchange said.</p>
<p class="bodytext">Shares in Malaysia's AirAsia Group Bhd were halted on Wednesday after its auditor said there were material uncertainties that cast doubt on the budget carrier's ability to continue as a going concern.</p>.<p class="bodytext">In an unqualified audit opinion on the airline's earnings results for 2019 issued late on Tuesday, Ernst & Young PLT said the financial statements were prepared on a going concern basis - which is dependent upon a recovery from the COVID-19 pandemic and the success of fundraising efforts.</p>.<p class="bodytext">AirAsia on Monday posted a 803.3 million ringgit ($188 million) loss for the three months ending March 31, its biggest first-quarter loss since its listing in November 2004.</p>.<p class="bodytext">The company said last month it was evaluating proposals for raising capital to strengthen its equity base and liquidity.</p>.<p class="bodytext">Company management has guided that an equity raising via a placement or rights issue looks imminent, Affin Hwang Capital analyst Isaac Chow wrote in a note to clients on Tuesday.</p>.<p class="bodytext">AirAsia representatives did not immediately respond to a request for comment.</p>.<p class="bodytext">AirAsia said on Monday there were ongoing deliberations for joint ventures and collaborations that might result in additional third party investments in specific segments of the group's business.</p>.<p class="bodytext">The trading halt is due to be lifted from 2.30 p.m. local time (0630 GMT), a release to the exchange said.</p>