KUALA LUMPUR, Nov 7 — Malaysia Airlines (MAS) will be privatised and it is a done deal, says Maybank Investment Banking (IB) Research.

In a statement, Maybank IB said with over 90 per cent of votes in hand, Khazanah Nasional Bhd can request to de-list the airline from being listed on Bursa Malaysia.

 “We believe this will be concluded by end-2014,” it added.

At yesterday’s extraordinary general meeting (EGM), minority shareholders voted to approve the proposed privatisation of MAS by Khazanah, at the share price of 27 sen.

Maybank IB said 93.98 per cent voted in favour of the proposal, and 6.02 per cent, against it.

 “MAS will be in a precarious situation if no fresh capital is injected into it in the near future,” it added.

Meanwhile, RHB Research said the privatisation signalled a new start.     

The research firm said Khazanah’s RM6.0 billion restructuring plans includes a capital injection, streamlining of the workforce, a review of routes and renegotiation of supply contracts.

 “Our earlier recommendation was ‘neutral’. We had advised minority shareholders to accept the offer as we do not foresee any potential significant turnaround for the airline in the foreseeable future after the MH370 and MH17 incidents.

 “This is coupled with the already challenging operating environment of the airline industry,” it added.

MAS’ share was flat at 26.5 sen at lunch break today, with 50.14 million units traded. — Bernama