Sunday, 22 January 2017

AirAsia X: late announcement from Tune Group?

I was looking at Bursa's website to check if AirAsia X had made an official statement regarding the UK corruption case of Rolls-Royce. There was no such announcement, hopefully they will release a comprehensive statement soon.

However, there was another announcement, Tune Group notifying its disposal of 147 Million shares of AirAsia X:




A major shareholder disposing a large chunk of shares, that seems like important news. Why did Tune Group wait almost one month to inform Bursa (and AirAsia X's shareholders) about this disposal?

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7 comments:

  1. panaceaasia22 January 2017 at 21:01

    This is sad and disappointing.

    I had the greatest respect for Tan Sri. I thought he was honest and conducted his dealings with great integrity.

    The dark side.

    Sigh.

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  2. panaceaasia22 January 2017 at 21:47

    What was the reason for selling?

    Any bad news?

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  3. Wammo23 January 2017 at 06:31

    I suspect they applied for and were granted a 1 month extension by the SC? https://www.sc.com.my/securities-industry-reporting-of-substantial-shareholding-regulations-1998/

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  4. M.A. Wind23 January 2017 at 09:00

    Thanks, didn't know about this, but should they not notify the extension and the reason behind that?

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  5. Wammo23 January 2017 at 09:42

    I presume it would be for short-term confidentiality reasons - if Tune had to notify immediately that it was selling such a big block, then it could trigger and even larger fall in the share price. For this reason Warren Buffett, for example, isn't required to report changes in Berkshire Hathaway's holdings immediately. Although I am not an expert on the SC/Bursa rules

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  6. bl23 January 2017 at 09:50

    now every one can lie.........

    ReplyDelete

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