Anthony Loke: Proposed MAHB privatisation boosts efficiency

The Star

The proposed privatisation of Malaysia Airports Holdings Bhd (MAHB) will boost the company’s efficiency through swift strategic decision-making and facilitate its way forward, said Anthony Loke.  Speaking to reporters on Friday (May 17) about MAHB's proposed restructuring measures, the Transport Minister stated that the ministry supports Khazanah Nasional Bhd’s proposal to restructure MAHB.  In response to allegations by Machang MP Wan Ahmad Fayhsal Wan Ahmad that the government is selling a portion of MAHB shares to foreign entities, Loke asserted that these claims are unfounded.  Read more at https://tinyurl.com/yyah23yp   WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00 Q. Could you share some of your views on the private-private deal coming from Kazanat? How will this help our efforts?

00:15 The first is the decision from Kazanat. It is not a decision of the Ministry of Transport.

00:22 The Ministry of Transport is just a regulator.

00:24 MHB, the major shareholder of course is Kazanat.

00:28 They have decided to take MHB private from the share market.

00:34 The decision is made by Kazanat.

00:49 Kazanat is our strategic asset manager for the government.

00:57 Of course we support the move by Kazanat.

01:00 As I said, this is not a sale.

01:04 This is something that I think needs to be rectified.

01:07 There are some statements that Kazanat is selling MHB to a foreign company.

01:12 No.

01:13 We take it private means that this consortium will control MHB more.

01:18 At this time, the government is not controlling the shareholding in MHB.

01:24 Because it is an open market.

01:26 In the share market, Kazanat plus EPF is 40 over percent.

01:29 So after this consortium is taken private,

01:33 Kazanat and EPF will form a consortium and they will control the majority share in MHB.

01:40 So that will help in the implementation of MHB's 7th Hara with more speed.

01:46 Because now it is a public listed company.

01:49 Whatever decision we want MHB to implement,

01:53 it needs to be endorsed or approved by the executive board.

01:58 Sometimes they have a different view from the government.

02:02 Because they have independent directors and so on.

02:06 So when it is taken as a private entity,

02:10 taken by Kazanat and EPF as a strategic asset of the government and the country,

02:17 I am sure that various strategic decisions can be implemented more quickly.

02:22 You mentioned that the information you presented is an assumption.

02:32 So it is no longer an assumption.

02:34 So my question is that, is this information new to you?

02:38 No, what I said stands.

02:40 His information was wrong.

02:42 He said we are selling.

02:43 Where is the information that we are selling?

02:45 We are not selling.

02:46 MHB is not selling.

02:48 Kazanat is not selling MHB.

02:50 In fact, through this exercise, Kazanat will increase our stakes in MHB.

02:56 So what I said about the 1.51 refute, is true.

03:00 He said we are selling.

03:01 I said we are not selling.

03:02 He has an assumption that we are selling.

03:04 This exercise does not mean that Kazanat is selling MHB's stake.

03:08 In fact, Kazanat and EPF is increasing the stake in MHB.

03:12 So what I mentioned in Parliament stands.

03:16 I did not mislead Parliament.

03:18 Dear, you mislead Parliament.

03:20 So his assumption, until today he is talking about we are selling and he is misleading the public.

03:30 He does not understand the exercise.

03:34 [End of Audio]

03:36 [Silence]

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