Government to sell MAS stake

Government to sell MAS stake

KUALA LUMPUR (Dow Jones): Finance Minister Daim Zainuddin said the government may sell a stake in Malaysian Airline System Bhd. to foreign partners to strengthen the company, the national Bernama news agency reported Wednesday.

Loss-making Malaysian Airline operates national flag carrier Malaysia Airlines.

"To strengthen MAS (Malaysian Airline), the government needs to consider the creation of a suitable strategic alliance to enable MAS to face the challenges of the globalization era," Daim was quoted saying in Parliament.

"This includes equity participation by strategic foreign companies in MAS," he said.

Daim said the government is prepared to engage an experienced foreign expert from the aviation industry for Malaysian Airline, but didn't say in what capacity.

Last month, the government completed buying tycoon Tajudin Ramli's controlling 29.09 percent stake in Malaysian Airline, held through aviation company Naluri Bhd.