http://www.businesstimes.com.sg/premium/...s-20140813
PUBLISHED AUGUST 13, 2014
Dr M: Full Khazanah ownership will not revive MAS
He says carrier would be subject to even less scrutiny once delisted
BY PAULINE NG IN KUALA LUMPURPRINT |EMAIL THIS ARTICLE
Dr Mahathir: Govt spending doesn't show careful financial mgt
FORMER Malaysian prime minister Mahathir Mohamad yesterday criticised the takeover of Malaysia Airlines by Khazanah Nasional, the country's sovereign wealth fund, saying full ownership of the beleaguered carrier was not likely to make a difference.
Last Friday, the state investment agency made an offer to take the airline private by paying 27 sen apiece or some RM1.4 billion (S$547 million) to buy the remaining shares it does not own.
In the coming fortnight, it is expected to detail its proposed complete revamp of the airline.
Ahead of the planned overhaul, Dr Mahathir said he foresaw the same problems that have plagued MAS befalling the new incarnation. "We are going to see a lot of new people who will receive huge salaries, allowances and bonuses and not much else. That I believe is how Khazanah operates," he posted in his blog.