Khazanah names administrator for MAS's revamp
His job will be to clean up MAS for closure and transfer its assets and liabilities to new airline, Malaysia Airlines Bhd
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Kuala Lumpur
MALAYSIA'S sovereign wealth fund Khazanah Nasional Bhd said it has appointed Mohammad Faiz Azmi to oversee the restructuring of the now-delisted Malaysian Airline System Bhd (MAS) into a new company that will be owned by Khazanah.
Mr Faiz will oversee the transfer of the assets and liabilities of MAS and the new company, Malaysia Airlines Bhd, is due to start operating by September, Khazanah said in a statement, according to Reuters. Khazanah took MAS private last year as part of a RM6 billion (S$2.23 billion) restructuring aimed at returning the troubled carrier to profit.
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