KUALA LUMPUR: AirAsia Group Bhd and long-haul sister company AirAsia X Bhd rebounded, albeit midlly, on Bursa Malaysia after two days of selldown over Airbus bribery allegations. AirAsia and AirAsia X gained one sen and 0.5 sen to close at RM1.16 and 12 sen respectively yesterday’s closing, after two days of experiencing intensified selling, as investors reacted to Coronavirus outbreak, amid corporate governance issue. The EPF reportedly disposed 7.92 million AirAsia shares at the end of last month, before the corruption allegations emerged. Some analysts described the sell-off of AirAsia and AirAsia X shares as “temporary turbulence”. Meanwhile, AirAsia X said its board of directors had formed a committee comprising non-executive members, save for Datuk Kamarudin Meranun and Tan Sri Tony Fernandes, to review the bribery allegations.

Source: New Strait Times February 06, 2020 04:07 UTC