Maybank Investment pumped in another RM6.8 million to stabilize share price of AirAsia X

by
Now Everyone Can Buy AA X share including Maybank!
On 24-7-2013 Maybank bought another RM6.863 million worth of AirAsia X shares to stabilize the share price.
NST Business reported 25-7-2013 that Maybank Investment Bank Bhd has purchased 5.49 million shares in AirAsia X Bhd yesterday to stabilise the stock

24 thoughts on “Maybank Investment pumped in another RM6.8 million to stabilize share price of AirAsia X”

  1. Bank Negara Malaysia should Investigate this matter, just like they raid Geneva Malaysia sdn bhd. Obviously Air Asia flotation will not bring long term benefits to its shareholders, with premium so huge……

    Just like Genneva, its long term business is not sustainable and people have been duped…so go on Bank Negara Malaysia…don’t go to sleep and let “investors” be tricked and fooled” just as you would want to help the gold ingot buyers of Genneva….or is this a case of double standards???

    • Well, Khairi……if you have the courage of your convictions, why not put your money where your mouth is and “short” AAX shares on Bursa Malaysia.

      If you call it right, you could make a bundle.

      But, if you call it wrong……

  2. How could the Security Commission allow financial institution to purchase AAX IPO shares just to maintain its IPO price of RM1.25. Was this not rigging? Mr Ranjit Singh the head of SC: Are you sleeping?

    Bank Negara is also sleeping? My God! all our institutions are headed by Sleepy Head including the Chairman of MAS!

  3. En Khairi,

    Bank Negara? Why BNM? Shouldn’t it be the SC and/or Bursa Malaysia? Oh well, never mind……the relevant authority should investigate this strange IPO, I agree. Looked like some fat cats were rushing to cash in their investments come what may. I smell a rat, though. Do they know sumthin we, joe ‘the punter’ public, don’t? Waahlaau, its the greater fool theory all over again.

    • In a word, bollocks!

      All over the world, companies go IPO, and their founding shareholders cash out, often making very handsome returns.

      Look at the IPOs of Amazon.com, Facebook and Google in the US, for example.

      How much did Jeff Bezos, Zuckerberg and Eric Schmidt make out of these IPOs respectively?

      How much did the angel investors and venture capitalists who invested in these companies pre-IPO make?

      Are you saying that the Malaysian capital markets operate under a different set of rules from it’s counterparts elsewhere?

  4. SC/BURSA KL and Bank Negara must investigate this mode of maintaining the IPO price. If we want foreigners to have confidence in our capital market something had to be done by the authorities. Wake up authorities. You are there to look after the interest of the investing public.

  5. The authorities had to investigate this matter. How on earth SC allowed the IPO of AAX under the circumstances? I thought that there is a rule that AAX must have profit records of 5 years before it could be allowed to be listed. Did AAX made profits for the past 5 years?

  6. Of course, the Star did not publish the news about Maybank Investment bought another 5.4 million AAX shares. This is not newsworthy for that junkyard journalist. It is news when that pariah farted about “not giving up Japan”.

    Junkyard journalist had to eat up her article. She was most irresponsible to mislead the public into buying the AAX IPO. If she had a professional editor in chief in the Star, she would have been reprimanded for her stupid article. Just another pariah journalist.

  8. Rajit Singh of SC: wtf are you doing as the head of SC? If the man on the street like us could smell something fishy in the deal, why is SC stiill pretending to be stupid. Another gaji buta!

  9. Petronius la, gormless pap la, skillgannon1066 la, go back to the hole you crawled out from. b k sidhu – besar kelentong

    • Can’t refute facts, izzit?

      Well, well…..no surprises there.

      Now let’s hear your explanation how Garuda (#8) overtook MAS (#14) in the latest Skytrax rankings? Are we in some alternate universe where the Indonesians can run an airline better than the Malaysians?

      Oh, yes – Skilgannon 1066. That’s a dude (or is it a dudette) that we haven’t heard from in a while.

      Back to refuting facts. How about it, eh?

  10. All these are classic diversionary tactics to steer prevent people from taking a long, hard look at the travails of MAS.

    Now that SIA has published it’s Q1 results and the analysts have weighed in, let’s see what financial numbers MAS comes up with.

    • The subject matter is Maybank Investment buying AirAsia X share to stabilize the IPO price of AirAsia X. In simple term, Maybank Investment buying AirAsia X was to shore up the price. I another without Maybank the price would have collapsed. BK Sidhu would have been the biggest laughing sock.

      What has MAS profit got to do with the low caste airline? But the subject mater is all about the personalities involved Tengku Zafrul, Tony Fernandes, Datuk Kamarudin, Datuk Kalaimullah Hassan.

      • Really?

        “Without Maybank the price would have collapsed”. Wow, are you prescient, omniscient or what, that you can predict whether share prices will rise or fall?

        Well, how about directing your prescience to explain how and why the MAS share price has “collapsed”? Let’s see – at it’s peak MAS share price was what, exactly? And what is it now? What was the resulting loss in market cap? What about the long-suffering minority shareholders of MAS?

        The issue here is whether Maybank IB was in breach of any law or regulation in acting as a “price stabiliser”. That’s an issue for the Securities Commission, Bursa Malaysia and the capital markets regulators to decide. Legal opinions must be sought. Not “seat of the pants” judgement calls.

        If you want to write about “shoring up prices”, do you think that the government was justified in “bailing out” MAS, using public funds? And how many times did these bailouts take place? Without the bail outs, MAS would just have been another airline that went bust.

        And what’s with targeting Ms Sidhu? Financial journalists, like analysts and economists, write reports and do analyses based on available information. Sometimes they get it right. Sometimes they get it wrong. So, what? It’s a free press and, as far as stock market investors are concerned, it’s caveat emptor.

        Oh, btw, has anyone asked Maybank’s Board of Directors if they support what Maybank IB is doing in this case of “price stabilisation”?

  11. A big question: How could the SC approve the AirAsia X IPO under such circumstances especially it has not been making continuous profits fotr the past 5 years?

  12. The authorities should investigate the personalities who approve the deal , check their bank accounts, their holding direct and indirect in all shares and stocks etc ,especially those in conflict of interest situation. From what i see, obviously somebody is benefiting from the deal at the expense of public fund in maybank,

  13. 1. AirAsia Japan has said the budget carrier will cancel hundreds of flights over two months before it ceases operations under the current brand at the end of October.

    AirAsia Japan, operated jointly by Malaysia-based AirAsia and major Japanese carrier All Nippon Airways (ANA), will suspend 14 daily flights from September 1 to October 26, according to a company statement.
    The carrier said the cancellations, which will reportedly affect 14,000 passengers, was because of a lack of planes to service all its routes.

    The affected routes include flights linking Seoul to the central Japanese city of Nagoya and Tokyo to the northern city of Sapporo. The carrier will cease operations by the end of October, just over a year after it started flying out of Tokyo

  16. SC should now investigate whether AAX misled SC on its submission with regards to Japan AirAsia and AirAsia India which may be under investigation by India SC.

    Japan AirAsia already KOYAK and India also in the shit too!

    Ka! Ka! Ka!

  17. Storm

    The stuff you have posted in YB’s blog is tornados for the pariah and low caste airlines. SC must investigate whether the submission for AAX IPO was questionable in the light of the publications in Storm comments. With those material I can’t see an authority like SC Gould have approved it. Investigate and take actions against the person who signed the submission papers to SC.

    It is high time for SC to act in the light of the latest information.

  18. Petronius

    What have you got to say about what have been posted by Storm.

    http://www.hurriyetdailynews.com/asian-carrier-halts-hundreds-of-flights.aspx?pageID=238&nID=51563&NewsCatID=345

    http://articles.economictimes.indiatimes.com/2013-07-04/news/40372154_1_jet-fuel-airasia-mittu-chandilya

    http://articles.economictimes.indiatimes.com/2013-07-07/news/40408021_1_airasia-india-tony-fernandes-sahara-force-india

    http://in.reuters.com/article/2013/07/10/asia-markets-idINDEE9690G420130710

    http://www.livemint.com/Companies/1284dAExPxGBvlF82OGiSO/Swamy-drags-AirAsiaTata-airline-clearance-to-courts.html

    Obviously, Petronius has nothing much to defend his boss, The Pariah.

    Of course, we will not see the above articles in print in the Star. And that Junkyard journalist BK Sidhu will not publish any part of the adverse news about her “idol” the Pariah.

  19. Maybank Investment/Tengku Zafrul were feeling the heat. Maybank was trying to justify why they were buying the AirAsia X IPO shares to stabilize the share price. SC must investigate the truth of the facts that have been submitted for approval of IPO.

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