Khazanah to maintain MAS as core holding

KUALA LUMPUR: Khazanah Nasional Bhd will continue to maintain MALAYSIAN AIRLINE SYSTEM BHD [] as a core holding in its portfolio while it constantly reviews strategies to improve the portfolio companies.

Khazanah said on Sunday, Aug 7 the aviation sector is a strategic sector to the economy and MAS remains a core holding in Khazanah’s portfolio.

“Khazanah will continue to maintain its position as the single largest shareholder in MAS,” it said.

“As an active strategic investor, Khazanah constantly reviews ways to improve the performance of its portfolio companies and concurrently the competitiveness of key strategic sectors of the economy.

It said further announcements will be made at the appropriate time with regard to Khazanah’s position in MAS’ ongoing transformation plan.

The Edge weekly reported in its Aug 8 edition MAS and AIRASIA BHD [] would have a strategic collaboration to be facilitated by Khazanah.

Both carriers would leverage on each other’s strengths instead of competing with each other. The Edge learnt Khazanah would acquire a substantial stake in Tune Air Sdn Bhd. TuneAir owns 23% of AirAsia.

However, other media, which followed up on The Edge weekly report, said Tan Sri Tony Fernandes and Datuk Kamarudin Meranun will emerge as the single largest shareholder of MAS.

“These reports are incorrect,” Khazanah said, referring to the other media reports that both of them would be the single largest shareholder of the national carrier.