Khazanah says Focus Malaysia reports on MAB negatively impacted corporate exercise

by TMR / pic by TMR FILE 

Khazanah Nasional Bhd said reports by a local magazine on the government’s move to revive Malaysia Airlines Bhd (MAB) have impacted the corporate exercise.

“Focus Malaysia’s recent articles have negatively impacted the corporate exercise, and this has affected the potential for Malaysia Airlines to achieve sustainable growth and profitability,” the sovereign wealth fund said in a statement today.

“The articles have also undermined trust and confidence in our integrity as a professional corporate partner and harmed our reputation, consequently impairing our ability to undertake business transactions in the future,” the fund added.

Khazanah, the sole shareholder of the national carrier, is looking to axe the ailing airline from its books after a botched RM6 billion capital injection into MAB since 2014.

Prime Minister Tun Dr Mahathir Mohamad reportedly said the government is looking at five proposals to acquire MAB.

The sovereign wealth fund said it “fully respects the principles of transparency and accountability, and the importance of press freedom and independence”.

“However, these freedoms must be upheld together with some sense of responsibility and restraint by the press when it comes to a corporate entity conducting an on-going corporate exercise that is genuinely commercial in nature. The press has duties of confidence regarding any information that it uses and publishes for public circulation,” it said.

The fund has also requested for Focus Malaysia to stop publishing any information regarding the corporate exercise that would typically be considered confidential, that comes into its possession.