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’s Disclosure Guide clearly state their duties as follows:
Disclosure Guide Bursa KL Rule 9.03 (2) provides:
“An information is considered material if it is reasonably expected to have a material effect on the –
(a) price,value or market activity of any of its securities; or
(b) investors decision in determining his choice of action.”
Rules 1.11
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