Hong Kong-based GMT Research, which published a report accusing budget airline AirAsia of dubious accounting practices, is saying that this report was "stolen" and published unintentionally.

The June 10 report wasn't meant for public consumption, GMT Research founder Gillen Tulloch said.

It was meant for subscribers who pay the company a "substantial amount of money", Tulloch is quoted as saying by business daily The Malaysian Reserve (TMR) today.

The financial analyst claimed that a client had copied the report and uploaded it on the Internet.

"If we find out who stole our research, we will get our lawyers to send them a cease and desist letter," Tulloch said.

The June 10 report caused AirAsia Bhd's share to plunge by almost 20 percent, causing it to shed some RM1.2 billion in market capitalisation

The GMT Research report also questions the airline's “accounting, profit generation, cash-flow issues, leverage and group structure,” Tulloch is quoted as saying by Bloomberg on June 12.

Tulloch denied that his company’s report was used for short-selling activities.

"Clearly, we won't deny that the publicity generated has been good for us," he told TMR.