Various entities show interest in MAS restructuring, says Khazanah

The MAS Recovery Plan (MRP) continues to draw interest from various entities seeking to participate in or complement it.

In the Second MAS Recovery Plan quarterly progress update released here, today, Khazanah Nasional Bhd, which has a 100 per cent stake in the national carrier, said it had to date received 36 business proposals.

"Khazanah has met and will continue to meet relevant submitting parties to discuss their proposals in detail," it added.

The sovereign fund said it conducts a rigorous evaluation process and will only evaluate and assess credible proposals with proven capability and resources.

"Furthermore, all proposals should not involve any break up of MAS assets, integral to its function as the national carrier," it added.

Overall, the progress shown thus far, is in line with the specific timeline for the return of MAS to sustained profitability under the MRP.

Included in the timeline is completion of the delisting of MAS and announcement of the leadership of the new company (NewCo) by Dec 2014, the formal transition to the NewCo (July 1, 2015), NewCo to achieve profitability (by end-2017) and relisting of the NewCo (between 2018-2020).