The article suggests a relationship between alleged speculative stock market transactions conducted on December 22-23 and the subsequent crash of AirAsia flight QZ8501. There is no evidence to that effect. Nor is there evidence of foreknowledge of the crash.
The trade pertained to Tune Insurance Holdings (TIH), a diversified insurance company which among other activities provides online travel insurance for AirAsia passengers.
On December 22 and 23, 944,000 TIH shares were sold by the AirAsia group chief executive officer in the spot market at MYR1.60, less than US$0.50 a share; the total value of the transaction was a modest US$440,000. In the immediate wake of the plane crash, no windfall gains: the price of TIH shares fell by 0.6%. On December 31st, the shares of TIH were trading at MYR 1.70. (at a higher price than sale at MYR 1.60 on December 22-23).
December 31, 2014
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