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18 October 2017

Clarification on New Straits Times report regarding Malaysia Airlines CEO Peter Bellew

Khazanah Nasional Berhad (“Khazanah”) refers to the New Straits Times report, “Khazanah meddling led to Bellew exit?” published on 17 October 2017.

We wish to clarify that the speculation based on unnamed sources in the article is both erroneous and misleading.

As provided for by the MAS Recovery Plan issued on 29th August 2014 and by the Malaysian Airline System Berhad (Administration) Act 2015 (“MAS Act 2015”), the restructuring of Malaysia Airlines follows a well laid-out governance and approval framework.

The Malaysia Airlines Board of Directors and management submits their key plans to Khazanah as the sole shareholder and funder of the restructuring, and collectively, we have worked closely together to deliver the progress of the on-going restructuring to date.

Khazanah also wishes to clarify that no Khazanah official was approached by the New Straits Times for comment prior to the publication of this speculative article.


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