Thursday, November 10, 2011

SC reviewing all trading data on MAS-AirAsia swap

KUALA LUMPUR (Nov 10):'' The Securites Commission (SC) is reviewing all the trading data on 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 [].

"We are reviewing all the trading data and we will make a decision upon our review and determination of our findings," its chairman Tan Sri Zarinah Anwar
told reporters after her keynote address at the fifth International Islamic Capital Market Forum, here on Thursday.

She, however, said there was no time frame for the investigation.

Last week, Deputy Finance Minister Datuk Dr Awang Adek Hussin told the Dewan Rakyat that SC and Bursa Malaysia have launched an investigation into the swap deal between MAS and AirAsia.

He said the probe would also look into the possibility of insider trading and will take time because it involved many accounts and a huge value.

He also 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.

On a separate issues, Zarinah said SC and Bursa Malaysia have surveillance systems in place to monitor price movements of all counters listed on the
stock exchange.

"Necessary action will be taken depending on the outcome of our surveillance activities," she said when asked on the speculation in penny stocks recently,

Zarinah also called on investors to exercise caution and make informed investment decisions.- Bernama

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