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Sovereign Wealth Funds Briefing - Categorized | Market

Khazanah okays MAS plan, awaits Cabinet approval

Posted on 28 August 2014

State asset manager Khazanah Nasional Bhd has approved the comprehensive restructuring plan for the loss-making Malaysia Airlines that will see up to 6,000 jobs disappear, say sources. The plan will be discussed by the Cabinet, a day after the Khazanah board had a meeting chaired by the sovereign wealth fund’s chairman Prime Minister Datuk Seri Najib Razak.
“The plan has been approved, now its up to the Cabinet,” a source said. The centrepiece of the plan will include shaving off thousands of jobs, as well as putting in place opportunities for re-training and placing out staff members, and drawing up retrenchment packages in the loss-making flag carrier………………………………………..Full Article: Source


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