AirAsia X not aware of reason behind UMA

KUALA LUMPUR: AirAsia X Bhd (AAX), which was issued an unusual market activity (UMA) query by Bursa Malaysia earlier, is unaware of any reason for the recent sharp rise in its share price and volume.

In a reply to the UMA query, AAX said except for its proposed regularisation plan to holistically restructure its business and financial condition, it is not aware of any other corporate development, rumour or report which may account for the UMA.

“The company and the appointed advisers are in the midst of formulating and/or evaluating the proposals to develop the proposed regularisation plan to holistically restructure its business and financial condition pursuant to the Practice Note 17 (PN17) of the Main Market Listing Requirements.

“Save for this, the board is not aware of any corporate development relating to the company and its subsidiary companies’ business and affairs that has not been previously announced that may account for the trading activity including those in the stage of negotiation/discussion,” AAX said.

The carrier added that its board is also not aware of any rumour or report concerning the business and affairs of the group that may account for the trading activity.

AAX closed 27 sen, or 19.15% higher at RM1.68. Over the past one month, the carrier has appreciated by over 150%.