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AirAsia audit committee clarifies non-consolidation of associates

AirAsia's shares, which were hit in the past fortnight, have tumbled to a five-year low following a report by HK-based GMT Research which questioned its accounting treatment of associates' losses.

Kuala Lumpur

RESPONDING to claims of questionable accounting practices at AirAsia Bhd (AAB), its audit committee on Monday clarified that the budget carrier had sought to put out clearer financial statements to reflect its actual fiscal position but was unable to do so because of aviation