PM Najib orders probe into MAS - Air Asia

The Securities Commission (SC) and Bursa Malaysia Securities will investigate the change in trend in the share prices of AirAsia Bhd and Malaysia Airlines following the suspension of trade on both the counters on August 9.

Prime Minister Datuk Seri Najib Tun Razak, who is also Finance Minister, said the SC and Bursa Malaysia will be studying the matter.

The SC and Bursa Malaysia will also monitor closely the share price movements from time to time including any unusual activity in terms of price and trade volume, he said.

Najib said this in his written reply to a question from Wee Choo Keong (Independent-Wangsa Maju) who wanted to know if the SC and Bursa Malaysia were aware that the share price of AirAsia had been on an uptrend and that of MAS was on a downtrend before the suspension of share trade on August 9.


Wee also sought an explanation on why the share price of AirAsia started to rise from July 20, 2011 on an unprecedented trend till the date of the share suspension with its share closing at RM3.95 sen while MAS closed its share at RM1.60 sen.
This trend however reversed later with the share price of AirAsia going down and the share price of MAS going up, Wee said.--Bernama / BT