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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Finance, Funds, Investment more

MAS sukuk bonds: Why touch pensioners’ fund?

Posted on 18 June 2012

Why did the Board of Directors of the civil service pension fund (KWAP) pick-up the entire RM1 billion worth of MAS’ first issue of its perpetual sukuk (bonds) when the airline company is deeply in debt? Malaysian Airlines System (MAS) recently announcement a historic loss of RM2.52 billion for the financial year end 2011.
The governmet-linked company is now in crisis. Slamming KWAP’s decision as yet another ‘bailout’ by the government, PKR Sabah secretary Dr Roland Chia Ming Shen said the move “will end up causing massive loss to the hard earned pensioners money.”……………………………………….Full Article: Source

 
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