Pemandu: No plans to sell MAS

The Performance Management and Delivery Unit (Pemandu) today stressed that the federal government has no plans to sell MAS, in response to reports quoting its CEO Idris Jala suggesting so.

In a press release late this evening, Pemandu said the earlier reports did not accurately convey the context of what he said during the agency's Global Malaysia Series talks this morning.
 
"In responding to a question whether the government should sell a company such as MAS, Idris responded to say the government should only make a decision to sell if the price is right, and certainly not at a loss or 'fire sale'. 

"To give a clearer picture of what he meant, he gave the example that the government could have sold MAS at the time he served as managing director and CEO when the share price was at RM6.20," read the press release.

This morning, Idris had made it clear that the federal government should divest businesses where "it should not be involved in". However, the press release did not make clear he was referring to MAS.

What the press release did make clear was that Idris had mentioned that 33 companies were identified for divestment to reduce the government's role in business.

This was a strategic reform initiative (SRI) stipulated under the economic transformation programme.

"I wish to clarify that currently the government does not have any plans to sell MAS. Under the New Economic Model, we are currently implementing the recommendation to rationalise the government's role in business. 

"As part of this SRI initiative, 33 companies have been identified but MAS is not one of them," said Idris, in the press release.