Arab Today, arab today khazanah seeks to delist malaysia airlines as part of restructuring plan
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Khazanah seeks to delist Malaysia Airlines as part of restructuring plan

Arab Today, arab today

Arab Today, arab today Khazanah seeks to delist Malaysia Airlines as part of restructuring plan

Khazanah Nasional Bhd
Kuala Lumpur - XINHUA

Khazanah Nasional Bhd, Malaysia Airlines'(MAS) largest shareholder, said on Friday that it sought to delist the national carrier to facilitate its plan to undertake a comprehensive review and restructuring of MAS.
Khazanah, which owned 69.37 percent of MAS, said that it had requested MAS to undertake selective capital repayment (SCR) amount of RM0.27 for each ordinary share.
"Upon successful completion of the Proposed SCR, Khazanah will become the sole ordinary shareholder of MAS, which would lead to a de-listing of MAS," it added.
Khazanah said the move was due to MAS' unfavorable financial performance and the poor performance of its share price on the stock exchange market. "In view of the above, Khazanah as the majority shareholder of MAS intends to undertake a comprehensive review and restructuring of MAS," it said, adding that it believed that private ownership would accord greater flexibility.
Khazanah said it would execute a restructuring plan for MAS, and put in a place an appropriate capital structure for MAS in view of the company's substantial funding requirements for the next few years to sustain its operation and address its current high level of gearing.

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