The recent report from GMT on AirAsia was deliberately leaked by GMT insiders ahead of its official press release in order to maximize the damage to AirAsia's stock.

The sole purpose of the report was to aid GMT's unnamed clients who have been gagging to short the stocks of AirAsia for a while now.

As indicated by security analysts in Malaysia and abroad, there's nothing new in GMT's report as to warrant a decline in AirAsia's stock price since word spread about GMT's report last 10 June 2015.

To be sure, there's nothing substantially new in the report. The only thing new was how they reworked words in the English language in the report so as to create a false impression that AirAsia was experiencing a financial crunch.

It's a common knowledge that leasing rates from AirAsia to its Philippine and Indonesian affiliates were at par with what's currently available from third party providers in the market.

They have a choice to lease the planes from AirAsia or a third party. The cost of the lease would have remained the same. But third parties would not be as willing as AirAsia in granting a longer period for repaying its trade receivables one that was compatible with its revenue strategies for both the Philippine and Indonesian operations.

To say AirAsia has profited at the expense of its affiliate operations in the said circumstances has no factual basis other than a misdirected conclusion on the part of GMT that was deliberately done with an ulterior motive to benefit its subscribers who were aiming to short the stocks in AirAsia.

In conclusion, market should simply view GMT for what it really is a hired gun that was hired to do the dirty job on behalf of its unnamed clients who stand to benefit the most from a rout in AirAsia's stocks.

                                                                                                                                        Ezra, 29 June 2015