WEE CHOO KEONG
Prior to the inking of the secret MAS – AirAsia share swap and the “Collaborative Frameworks” agreements , both MAS and Tune Air Sdn Bhd did not make any announcement that they were negotiating for the secret MAS – AirAsia share swap. Both the directors of MAS and Tune Air Sdn Bhd’s are duty bound to disclose to Bursa KL about the said negotiations.
|(Bursa KL is very quiet about the non disclosure of the MAS - AirAsia share swap)|
A mere reprimand will not be acceptable in view of the share movements of both MAS and AirAsia during the material time and the arrogance or “tidak apa attitude” of the directors of MAS and Tune Air Sdn Bhd. Bursa KL in co-ordination with SC has all the powers to reverse the secret share swap under the Rules. Leniency on the part of Bursa KL will be seen as condoning the acts of non disclosures by GLCs and public listed companies and it will encourage more of such acts in the future. Further, public confidence in our security market will not be restored by a mere reprimand.