Decision on strategic partner for Malaysia Airlines by early 2020 latest, says Azmin

23-Oct-2019 Intellasia | Malay Mail | 6:02 AM Print This Post

The economic affairs minister today said the government will appoint a strategic partner to take over Malaysia Airlines Berhad (MAB) within the next few months.

Datuk Seri Mohamed Azmin Ali told Parliament during Question Time that four potential bidders have been shortlisted from 20 received by MAB majority shareholder Khazanah Nasional Berhad, and the airlines’ parent company Malaysian Aviation Group Berhad (MAGB).

“If Khazanah’s board agrees with several responses and suggestions which will be made, we expect that by this year’s end, or latest in early 2020, a decision can be made to identity the strategic partner or strategic investor to strengthen MAS’ position in the long term,” he replied Kapit MP Datuk Alexander Nanta Linggi who wanted to know the timeline for the takeover of the national airline.

Azmin also said the government expects the vetting process will be completed by next month.

He declined to reveal details of the potential bidders, citing a non-disclosure agreement (NDA).

Azmin said the government will still have a say in MAB through sovereign wealth fund Khazanah, though he added that this is being discussed.

“There are strategic partners or investment partners who suggested to take over the majority shares. There are those who suggested that Khazanah maintain its majority shares in MAS, and all these are under our consideration,” he said, using the old acronym for the airline.

“What’s important is that the government via Khazanah will still have an important voice and majority in this new structure,” Azmin told Jeli MP Datuk Seri Mustapa Mohamed who asked if the government will still have its “golden shares” if the takeover happens.


Category: Malaysia

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