Regional Round-Up
Commission to investigate MAS losses likely
October 1st 2014
Malaysia’s opposition Pan-Malaysian Islamic Party, or PAS, has called on the government to set up a Royal Commission of Inquiry (RCI) into Malaysia Airline System Bhd.’s (MAS) losses over the years. Read More » “It’s not that we want to see MAS bankrupt, or that it needs not be revived. We, as Malaysians, know that it needs to be salvaged because it is our national treasure. But we must question those who have brought down MAS over the last 10 to 15 years to its current state,” PAS information chief Omar said without naming anyone in particular. Khazanah Nasional, the government investment arm that currently holds a 70% stake in MAS, last week announced a rescue plan for MAS titled “Rebuilding A National Icon”. Khazanah said it would spend 6 billion ringgit (US$1.9 billion) to revive the airline, including 1.4 billion ringgit to take the carrier private by year-end, 1.6 billion ringgit for 6,000 layoffs and other cuts to operating expenses.
