Given the prices exAustralia (actually on all airlines) versus corresponding flights from elsewhere (oK maybe not HKG) I can understand why CX might need some additional incentive to obtain passengers....
My gripe (other than CX flight costs) is when I do look at flights to PER from my normal overseas return points, the direct HKG-PER flights are often more expensive than flights transiting ADL or MEL with domestic legs on QF. One would think transferring one of the (less used) multiple frequencies from MEL (5x weekly in stead of daily on one flight) to PER might be profitable for CX. Especially since HKG-PER is now code-shared with QF (prices no bargain).
Consider a one way CMB-PER. Pricewise no one else competes with Air Asia. But given a reluctance to fly on an LCC, the following is normally far more useful in re-qualification.
Z class on MH CMB-KUL-DPS // overnight at Novotel DPS // JQ MAX fare DPS-PER Definite better return on QF or on a combination of CX and QF in terms of "re-qualification points" and not a great deal of difference (there is a bit) in total cost.
Just wandering
Fred