Trading in Malaysia Airlines suspended (Update)

  • Business
  • Friday, 08 Aug 2014

KUALA LUMPUR: Trading in Malaysia Airlines (MAS) was suspended from 9am Friday pending a material announcement, which could be a restructuring to turn around the ailing national carrier.

A Bursa Malaysia Securities circular said the trading suspension was at the request of its major shareholder Khazanah Nasional Bhd.

The trading suspension is from 9am  to  5pm pending for a proposal from Khazanah in relation to a material corporate exercise involving the company.

Reuters cited its report, quoting sources in July that Khazanah Nasional Bhd, which owns 69% of MAS, plans to take it private as the first step in a major restructuring.

The plan comes after one of the loss-making carrier's aircraft, MH370, disappeared on March 8. On July 17, MH17 was shot down over Ukraine. Hundreds of people were killed in both incidents. 

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