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Trading in Malaysia Airlines suspended

Publication Date : 08-08-2014

 

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 per cent 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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