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Business, Malaysia

Joseph Chin
Friday, Aug 29, 2014

Business, Malaysia

MAS stocks suspended ahead of revamp plan reveal

The Star/ANN | Joseph Chin | Friday, Aug 29, 2014

KUALA LUMPUR - Trading in Malaysia Airlines shares was suspended from 9am on Friday ahead of an announcement by major shareholder Khazanah Nasional.

Khazanah, which owns nearly 70 per cent of the ailing national carrier, is expected to unveil details to restructure it under a proposed privatisation.

MAS sunk deeper into the red in the second quarter ended June 30, with net losses of 307.04 million ringgit (S$121.4 million) compared with net loss of 175.98 million ringgit a year ago, as it was impacted by the tragedies involving flights MH370 and MH17.

The disappearance of Malaysia Airlines flight MH370 in March 2014 continued to impact the airline's Q2, 2014 financial results with MAS reporting a net loss of RM307mil due to lower yield and seat factor.

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