By Stephanie Jacob
Low-cost airline AirAsia Bhd has vigorously denied that it did not consolidate its associates’ accounts so as to paint a rosier profit picture as alleged by independent Hong Kong-based research firm GMT. In this first of three articles, KINIBIZ looks at who is right as far as this is concerned. GMT Research has come up with a damning indictment against AirAsia, effectively accusing the airline of manufacturing profits by abusing its associates. Is that really true? KINIBIZ takes a deep, hard look in part two. Finally KINIBIZ’ Tiger growls in. A well-written report full of doom and gloom, merged with at least three key factors to trigger the perfect selling storm for AirAsia’s stock over the past two weeks. But was all this just to turn a trade or two to benefit a privileged few?
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