Business

Khazanah counters news report on MAS boss

Peter Bellew

Syndicated News
Written by Syndicated News

KUALA LUMPUR, Oct 18 2017 : Khazanah Nasional Bhd has clarified that an article in a local daily which said that its meddling led to the exit of Malaysia Airlines Chief Executive Officer, Peter Bellew, was erroneous and misleading. 

In a statement, Khazanah said, the article, titled ‘Khazanah meddling led to Bellew exit?” published on Oct 17, was speculation based on unnamed sources.

It was both erroneous and misleading, it said.

Khazanah said the Malaysia Airlines board of directors and management submitted the key plans to it as the sole shareholder and funder of the restructuring.

“Collectively, we have worked closely together to deliver the progress of the on-going restructuring to-date,” it said.

Khazanah also clarified that no Khazanah official was approached for comment prior to the publication of this speculative article.

It said that as provided for by the MAS Recovery Plan issued on  August 29, 2014 and by the Malaysian Airline System Bhd (Administration) Act 2015, the restructuring of Malaysia Airlines followed a well laid-out governance and approval framework. – Bernama

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