Report: Malaysia Airlines clarifies creditors’ notice for former entity’s liquidation, not current company

23-Oct-2020 Intellasia | Malay Mail | 6:02 AM Print This Post

Malaysia Airlines Bhd (MAB) today clarified that an advertisement or notice to creditors was directed at the creditors of its former now-defunct entity Malaysian Airline System Berhad (MAS) for the latter’s ongoing liquidation process, a news report has said.

Malaysia Airlines was providing clarification regarding today’s notice to MAS’ creditors by the defunct company’s liquidator KPMG, where creditors were told to submit proof of the debt owed to them by MAS or proof of their claims by 5pm on November 12, 2020 to KPMG Deal Advisory Sdn Bhd.

According to local business paper The Edge’s portal, Malaysia Airlines had said the notice that was circulating on social media is part of the liquidation process for the defunct MAS by KPMG which was appointed as liquidator since this February, adding that the notice is not connected to the current company MAB.

“The matter is unrelated to Malaysia Airlines and is in no way part of its current restructuring exercise,” Malaysia Airlines was quoted as saying by The Edge.

Other news outlets today also reported the same clarification by Malaysia Airlines.

Under sole shareholder Khazanah Nasional Berhad’s restructuring and recovery plan for Malaysia Airlines, the airline’s operations was transferred from MAS to the current company MAB on September 1, 2015.

The Edge said Malaysia Airlines is currently appealing to its creditors to take a reduction on the debts owed to them, due to its difficulties in meeting payment obligations amid a slow recovery hampered by the Covid-19 pandemic’s impact on airlines and the tourism industry.


Category: Malaysia

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