MAS (3786) seeks to renegotiate catering deal with Brahim's (9474)

KUALA LUMPUR: Malaysia Airlines (MAS) is seeking to renegotiate the terms of the catering agreement with Brahim's-LSG Sky Chefs Holdings Sdn Bhd (BLH), a subsidiary of Brahim's Holdings Bhd.
Brahim's said on Thursday it had sought legal opinion and was been
advised that the terms and the obligations of all parties under the
catering agreement remained intact.
In a statement issued to
Bursa Malaysia, Brahim's said MAS forwarded a letter to LSGB, the
subsidiary of BLH, which operates under the catering agreement "to put
on notice that MAS has the intention to renegotiate the terms of the
catering agreement to re-align the objectives of the parties under the
catering agreement".
However, Brahim's said MAS did not provide
specific terms about the relevant provisions of the agreement, which
MAS would like to renegotiate.
To recap, Brahim's had proposed to acquire a 49% interest in BLH for RM130mil cash consideration.
However,
during the EGM on Thursday, upon hearing the explanation from the board
about MAS' intention which may affect the viability of the proposed BLH
acquisition, the shareholders sought for the EGM to be adjourned.
The adjournment was to allow Brahim's board to seek clarity on MAS's intention about the catering agreement.

pak cals, can sapu sum boh ?