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Khazanah Hopes Govt. Enacts MAS Act Early 2015

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KUALA LUMPUR: Khazanah Nasional Bhd hopes the government will enact the “MAS Act” early next year, before MAS NewCo is set up in the middle of next year.

According to the RM6 billion recovery plan for MAS, its shares will be delisted from Bursa Malaysia by year-end and a new company (Newco) will be created to carry on the airline’s business.

To facilitate the restructuring of the national carrier in a comprehensive, timely and holistic manner, the government will table a new law in Parliament called the MAS Act.

Managing director Tan Sri Azman Mokhtar said the act is an important enabling act, which the Prime Minister is expected to table in Parliament next week during the Budget 2015 announcement on October 10.

“The Act is urgent but we can wait until the start of the new year,” he told reporters on the sidelines of the Khazanah Megatrends Forum 2014 here today.

He said Khazanah Nasional had started work on structuring the MAS Act with the Attorney General’s office.

Azman said one month after the plan to revive MAS was unveiled, there had been many communication sessions among Khazanah Nasional, MAS and the government.

Meanwhile, he also today confirmed that Khazanah Nasional will eventually list Themed Attractions and Resorts Sdn Bhd on Bursa Malaysia, although not this year.

“The theme park company is doing very well and we are in no hurry to list it.

“This will be a decision that Khazanah and the Themed Attractions board of directors would jointly make,” he added.– Bernama

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