Thursday, November 3, 2011

SC, Bursa launch probe into MAS-AirAsia share swap

KUALA LUMPUR (Nov 3): The Securities Commission (SC) and Bursa Malaysia have launched an investigation into the swap deal between state
investment arm Khazanah Nasional Bhd and Tune Air Sdn Bhd of shares in MALAYSIAN AIRLINE SYSTEM BHD [] (MAS) and AIRASIA BHD [].

Deputy Finance Minister Datuk Dr Awang Adek Hussin told the Dewan Rakyat on Thursday the probe would also look into the possibility of insider trading.

"It will take time because it involves many accounts and a huge value. "In this matter we need to look into it thoroughly," he said when winding-up
the debate on the Supply Bill 2012 on the ministry's behalf.

He said if the probe by the SC and Bursa Malaysia found evidence of insider trading, the Malaysian Anti-Corruption Commission (MACC) could also be invited
to investigate.

Under the deal announced in August, Tune Air and Khazanah -- the major shareholders of AirAsia and MAS respectively -- agreed to swap their shares
which resulted in Tune Air holding 20.5 percent equity interest in full service carrier MAS and Khazanah holding 10.0 percent equity interest in budget airline AirAsia. - Bernama

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