SC reviews data on MAS-Air Asia share swap

KUALA LUMPUR: The Securites Commission (SC) is reviewing all the trading data on the swap deal between state investment arm Khazanah Nasional Berhad and Tune Air Sdn. Bhd. of shares in Malaysia Airlines and Air Asia.

"We are reviewing all the trading data and we will make a decision upon our review and determination of our findings," SC chairman Tan Sri Zarinah Anwar told reporters after speaking at the fifth International Islamic Capital Market Forum here 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 the SC and Bursa Malaysia had launched an investigation into the deal.

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

On a separate issue, 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, including Harvest Court Industries.

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

Source: MOLE