KUALA LUMPUR: The Employees Provident Fund (EPF) has disposed of some 7.44 million shares in low-cost carrier AirAsia Group Bhd (AAGB).
In a filing Feb 3, the beleaguered airline group said the transaction was done on Jan 28 from a nominee account held on behalf of EPF.
Following the disposal of the 7.44 million shares, EPF now holds some 210.49 million shares or 6.31% in AAGB, making it the third largest shareholder in AAGB.
However, this was before news broke over last weekend of the corruption and bribery allegations against AAGB, AirAsia X Bhd (AAX) and Airbus amounting to US$50 million (about RM204.8 million).
The disposal of the shares was possibly on the back of the Wuhan coronavirus outbreak that has been viewed by many aviation analysts as impacting air travel.
Following the virus outbreak as well as news of the Airbus corruption scandal, AAGB and AAX shares have been sold down heavily.
Source: The Edge Markets