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NewsMAHB to cut Khazanah's stake to 36% via private placement
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MAHB to cut Khazanah's stake to 36% via private placement
by Cals Tue 28 Jan 2014, 01:49
| MAHB to cut Khazanah's stake to 36% via private placement |
| Business & Markets 2014 |
| Written by Jeffrey Tan of theedgemalaysia.com |
| Monday, 27 January 2014 20:02 |
KUALA LUMPUR (Jan 27): Malaysia Airports Holding Bhd (MAHB) said it is on the right path to ‘graduate’ from Khazanah Nasional Bhd’s GLC Transformation Programme.
To mark its maturity as a high-flying coporate entity, MAHB will undertake a private placement exercise in two months to cut Khazanah’s stake in the airport operator to 36% from 40% currently.
MAHB's CFO Faizal Mansor said: “Our aspiration is to be a regional champion when we ‘graduate’ and this is clearly reflected in our investments in Turkey and India. We are looking to growing this business further.
The GLC Transformation Programme was established with the aim of transforming government-linked companies (GLCs) into high-performing entities, in line with the aspirations of the New Economic Model (NEM), according to The Khazanah Report 2012.
On its impending "graduation", Faizal said MAHB is very grateful to Khazanah for their "coloured books".
"This is what initiated the transformation of MAHB," he said.
The ‘coloured books’ outlined the 10 transformation initiatives of the GLC Programme – one ‘coloured book’ for each initiative.
Faizal said: “We have used the ‘coloured books’ as guidelines and thus improved our operations, working capital, etc.”
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