Folks,
Finally the national carrier Malaysian Airlines Systems Bhd (MAS) has released an important circular to its shareholders detailing a complete restructuring plan to rescue the ailing airline.
The detail was announced to Bursa Malaysia few days ago.
You can take a look at the document here:
Part 1 of the document
Part 2 of the document
Notable in this circular is that the airline had seen cumulative net adjusted losses from RM8.4 billion from 2001 to 2014, with some RM17.4 billion of government funds used to bail the airline out.
Wow. What an astonishing figure!
The poor financial performance and the negative sentiment towards the national airline was further exacerbated by the tragic and puzzling loss of flight MH370, as well as the shooting down of MH17.
On Khazanah's proposal to save the airline, independent adviser AmInvestment Bank is of the opinion that the restructuring plan–involving selective capital reduction (SCR)–is deemed as "fair and reasonable", and not detrimental to ordinary shareholders of MAS other than Khazanah Nasional Bhd.
AmInvestment Bank said, "accordingly, we recommend that the ordinary shareholders of MAS other than Khazanah vote in favour of the special resolution pertaining to the proposed SCR to be tabled at the forth coming EGM [extraordinary general meeting] of the company."
Well, there you have it.
A plan to restructure the company.
An action to rescue the ailing legacy.
And finally, a drastic move that comes in time of emergency.
If you are MAS shareholders, will you vote for, or against it?
Finally the national carrier Malaysian Airlines Systems Bhd (MAS) has released an important circular to its shareholders detailing a complete restructuring plan to rescue the ailing airline.
The detail was announced to Bursa Malaysia few days ago.
You can take a look at the document here:
Part 1 of the document
Part 2 of the document
Notable in this circular is that the airline had seen cumulative net adjusted losses from RM8.4 billion from 2001 to 2014, with some RM17.4 billion of government funds used to bail the airline out.
Wow. What an astonishing figure!
The poor financial performance and the negative sentiment towards the national airline was further exacerbated by the tragic and puzzling loss of flight MH370, as well as the shooting down of MH17.
On Khazanah's proposal to save the airline, independent adviser AmInvestment Bank is of the opinion that the restructuring plan–involving selective capital reduction (SCR)–is deemed as "fair and reasonable", and not detrimental to ordinary shareholders of MAS other than Khazanah Nasional Bhd.
AmInvestment Bank said, "accordingly, we recommend that the ordinary shareholders of MAS other than Khazanah vote in favour of the special resolution pertaining to the proposed SCR to be tabled at the forth coming EGM [extraordinary general meeting] of the company."
Well, there you have it.
A plan to restructure the company.
An action to rescue the ailing legacy.
And finally, a drastic move that comes in time of emergency.
If you are MAS shareholders, will you vote for, or against it?
No comments:
Post a Comment