No bailout forthcoming, Khazanah warns MAS

No bailout! you think you want to trust him. Life is really tough in Malaysia. Middle class earn little yet need to pay high taxes. Worst is still openly oppressed by all these Monsters! These Monsters just has no brain, how can you take general public hard earn money to support a small portion of people who do not deserved it. The most interesting part is after the flip-flop of AirAsia and MAS merger, our friend down here still has cheek to say no bail out! Come on lah friend he is the best analyst before, he knows very well that a company can only run well if it is run competitively. Lets come to reality! Accept the fact and move on! It is no point to spin around the issue in MAS.

Azman said the funds MAS could expect to get from Khazanah would be tied to the airline’s performance. — File pic

 

Azman said the funds MAS could expect to get from Khazanah would be tied to the airline’s performance. — File pic

 

KUALA LUMPUR, May 23 — Khazanah Nasional today said its commitment to Malaysia Airlines’ (MAS) recapitalisation exercise is contingent upon the national carrier’s performance.

“We can put in the money but we also need to see results because this is public money that we are talking about,” Khazanah director Tan Sri Azman Mokhtar told reporters at Axiata Group Bhd’s annual general meeting here.

“It cannot be a bail out,” he stressed, when asked to confirm the amount of capital Khazanah could commit to the national carrier’s plan.

Azman also added, “We need to see results coming through; we need to see Malaysia Airlines’ union, management, board and all stakeholders to work together to advance the company.”

The national carrier recently announced a RM9 billion fund-raising exercise to pay for aircraft purchases and to finance its working capital.

Among the plans is the issuance of up to RM2.5 billion in Islamic bonds by June this year.

MAS also had said that if its plans fall short, it would rely on parent company Khazanah Nasional to step in to provide financial support in the form of capital equity injections to finance any unfunded aircraft capital expenditure and also working capital needs. — Bernama