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

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’s price. The company told Bursa Malaysia yesterday Maybank IB had purchased the shares at RM1.25 each HERE.In monetary term, on 24-7-2013 Maybank investment under YM Tengku Zafrul Aziz has pumped in another RM6.863 million to stabilize the shares of AirAsia X Bhd.On 3 occasions Maybank Investment pumped as follows:On 11-7-2013 RM24.375 million HERE

On 17-7-2013 RM8.45 million HERE

On 24-7-2013 RM6.863 million (above).

For the past 2 weeks after the IPO of AirAsia X has been closed, Maybank Investment had pumped in RM39.688 million to stabilize IPO of AirAsia X.

Please don’t be alarmed by RM39.688 million. It is just a drop in the ocean to Maybank Investment. Hopefully we will see more fund will be pumped in by Maybank Investment to help to stabilize the share price of AirAsia X.

The pumping in of fund by Maybank Investment should be viewed as a form of “national service” by Maybank Investment to help public listed companies to stabilize its IPO share. In return, we should help Maybank by buying its shares so that it could help more companies to stabilize their IPO shares. It might be an opportune moment for Maybank to have a new slogan “Now Everyone Can Buy Maybank shares” to attract more customers to join its effort for “nation building”.

Background

2nd right in picture: YM Tengku Aziz when he was the CEO of Tune Money, a company related to the AirAAsia outfit, (after the then Minister of Finance II Tan Sri Nor Mohamad Yakop)

Picture from left to right: Tan Sri Nor Mohamad Yakop (the then extremely powerful Minister of Finance II under Pak Lah’s administration, YM Tengku Zafrul Aziz (when he was the CEO of Tune Money Sdn Bhd, a company related to the AirAsia outfit),  Tan Sri Tony Fernandes of AirAsia & AirAsia X) and Datuk Kalimullah Masheerul Hassan.

The CEO of Maybank Investment Bhd is none other than YM Tengku Zafrul Aziz shown in the above picture when he was the CEO of Tune Money Sdn Bhd, which is part of the AirAsia’s outfits.

So far we have not heard any of the key shareholders of AirAsia X coming out to deny what has been reported by Business Time that they have made a handsome profits of RM240 million from the IPO of AriAsia X.

It has been reported in Business Times on 12-7-2013 that:

“AirAsia X raised RM987.7 million from the IPO, of which nearly RM240 million went into the pockets of some its key shareholders, including its founder Tan Sri Tony Fernandes.

For full report in HERE.

If it was true, congratulations to the shareholders of AirAsia X.  The par value of AirAsia X was 15 Sen per share.

The shareholders of AriAsia X were as follows:

i)         Manara Malaysia I Limited                     –      29,020,267

ii)         Orix Airline Holding Limited                 –      29,020,267

iii)        AirAsia Berhad                                       –      42,666,667

iv)        Corvina Holdings Limited                       –      26,666,667

v)         Aero Ventures Sdn Bhd                       –    139,292,800

Aero Venture’s shareholders are:

  • Dato’ Kalimullah Bin Masheerul Hassan
  • Dato’ Kamarudin Bin Meranun
  • Lim Kian Onn
  • Tan Sri Anthony Francis Fernades
  • Tune Long Haul Sdn Bhd (Tan Sri Anthony Francis Fernandes and Dato’ Kamarudin Meranun are the shareholders)

For full details read HERE.

It has been reported in Business Times on 12-7-2013 that:

“AirAsia X raised RM987.7 million from the IPO, of which nearly RM240 million went into the pockets of some its key shareholders, including its founder Tan Sri Tony Fernandes.

For full report in HERE.

The highly aclaimed Ms B K Sidhu

The highly acclaimed Ms B K Sidhu, Editor of Business Star

Just for completeness, prior to the closing of the IPO of AirAsia X the highly acclaimed Editor of Business Star, BK Sidhu had promoted the AirAsia X share will be over-subscribed by at least 3 to 4 times HERE.

Since then BK Sidhu has yet to write another piece to clarify on her promotional article, which was most misleading and unprofessional to say the least.

Ms Sidhu, are you still the Editor of Business Star?

 

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

  1. Khairi

    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???

    Reply
    1. Petronius

      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……

      Reply
  2. Frank

    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!

    Reply
  3. Pe'ah

    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.

    Reply
    1. Petronius

      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?

      Reply
  4. Kanalingam

    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.

    Reply
  5. Hee

    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?

    Reply
  6. Junkyard journalist

    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.

    Reply
  7. Heong

    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!

    Reply
  8. Anonymous

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

    Reply
    1. Petronius

      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?

      Reply
  9. gormlesspap

    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.

    Reply
    1. Kamal

      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.

      Reply
      1. Petronius

        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”?

  10. Lim

    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?

    Reply
  11. anon

    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,

    Reply
  12. Storm

    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’s Narita airport in August.

    Announcing the dissolution of AirAsia Japan in June, the Malaysian carrier cited a “fundamental difference of opinion between its shareholders on how the business should be managed, from cost management to where the domestic business operations should be based”.

    ANA however said the venture dissolved because it was not well known in Japan and could not register profits. The Japanese carrier plans to launch a new budget brand in November.

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

    July/28/2013

    comment : Pariah ini tak dak maruah weh sebab itu dia sanggup gadai nama baik Malaysia di merata untuk isi perut buncitnya. I wonder what the Japanese will think of us now especially Mr Abe. And for more of the clown’s shameless antics and foulmouthed rants go here:

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

    Yep…he looks like a prostitute alright….a jumbo’s slut.

    2. An assessment of the failures of Tony Fernandes the sports entrepreneur is important because they might have a bearing on his airline business in India. Even for an industry that resembles a disaster area as a whole, Indian aviation stands out because of the high costs and rigmarole of rules. AirAsia has already faced disappointments in India. It has struggled on overseas routes from India.

    The airline faces a potentially challenging 2013 as it accelerates expansion in core markets, according to aviation consultancy Capa. AirAsia will continue to incur losses at its recently launched Philippines affiliate, Capa said in a recent report.

    Capa said AirAsia clearly has the cash to withstand the storm of challenges that 2013 brings. But all that can change because Fernandes also has his financial antenna tuned to his sports businesses, particularly his football team. To date, he has sunk £50 million QPR — to no effect. Current manager Harry Redknapp the third appointment since the acquisition. By Fernandes’ own admission, QPR will not return to the Premier League anytime soon.

    Comment: as for his business acumen and foresight, read and laugh at this

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

    3. Subramanian Swamy has raised questions of corruption involved in the deal.

    “It is the duty of the Opposition to bring the corruption to public records. The Foreign Investment Promotion Board (FIPB) would have cleared the project, had I not written that letter,” said Swamy to CNN-IBN.

    Swamy said that AirAsia deal needs to be re-examined. It is a fraudulent deal. Subramanian Swamy, who seems to have developed an interest in aviation following his continuous criticism of several other aviation deals, said that he has written the letter to the Prime Minister pointing out an intelligence report on Foreign Direct Investment (FDI) impact on National security.

    (http://ibnlive.in.com/news/subramanian-swamy-alleges-irregularities-in-airasia-deal-writes-to-pm/403644-37.html)

    Comment: Maybe Indian politicians more careful than we give them credit for. after all ours, are a bunch of nincomppops anyway.

    4. Finally, read this:

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

    One wonders whether the taxpayer will be left holding the baby once QE starts winding down in the US, and interest rate costs spike for companies heavily leveraged on Dollar debt (AA is one such dick). No wonder no one is interested for any piece of AAX hence the flat price and the stabilisation…..

    as for Petronius, we all know from which shithole it squirms out from.

    Reply
  13. Storm

    And for a few more laughs, here is what the Japanese think of AA:

    “AirAsia may be almighty in Southeast Asia, but it wasn’t fit to provide the meticulous service called for in Japan,” Mr. Shimizu said. “Even a low-cost carrier requires attentive service, and the airline was not up to task.”

    Speaking privately, an All Nippon official pointed to numerous shortfalls in the level of service AirAsia brought to Japan.

    http://www.nytimes.com/2013/06/26/business/global/ana-and-airasia-end-partnership-on-low-cost-carrrier.html?_r=0

    comment : after all, not everyone is a desperate skint looking for a cheapskate ripoff, are they?

    Reply
  14. Junkyard journalist

    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!

    Reply
  15. Ibrahim

    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.

    Reply
  16. Junkyard Journalist

    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.

    Reply
  17. Ganesh

    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.

    Reply

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