We refer to media reports that Tan Sri Tony Fernandes and Dato’ Kamarudin Meranun will emerge as the single largest shareholder of Malaysian Airline System Berhad (“MAS”). These reports are incorrect. The aviation sector is a strategic sector to the economy and MAS remains a core holding in Khazanah Nasional Berhad’s portfolio. Khazanah will continue to maintain its position as the single largest shareholder in MAS.

As an active strategic investor, Khazanah constantly reviews ways to improve the performance of its portfolio companies and concurrently the competitiveness of key strategic sectors of the economy. Further announcements will be made at the appropriate time with regard to Khazanah’s position in MAS’ ongoing transformation plan.