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All the FAX in Rumourland

The Edge Daily, May 23: Tony Fernandes was quoted as saying that ECM Libra Avenue Bhd is now seen as a potential target for a reverse takeover (RTO) by his long-haul budget-airline Fly Asian Xpress Sdn Bhd (FAX) towards funding its growth.

Tony, chief executive of AirAsia Bhd, is also FAX's co-founder and shareholder. He recently bought into ECM-Libra Avenue recently.

NST-Business Times, June 8: "(It's) not true." ECM executive chairman and CEO Kalimullah Masheerul Hassan told the ECM when asked on news of a possible reverse takeover bid of ECM by FAX

He also said that the company was not aware of any plans by Amcorp Group Bhd owner Azman Hashim to raise his stake in ECM from 22% currently.

Posted by Jeff Ooi on June 8, 2007 07:35 AM |

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