KUALA LUMPUR, March 10: Malaysia Airlines plans to sell off property, including a piece of freehold land and a building which it currently operates from, to the government's pension fund.

The sale, worth 145 million ringgit ($41.4 million), to the Employees Provident Fund (EPF) is part of the airline's restructuring plan, the carrier said late Friday in a statement to Malaysia's bourse.

Malaysia Airlines said the sale of the land and the building known as MAS Academy "forms part of our strategic asset rationalisation exercise by the disposal of non-core assets as an initiative in the business turnaround plan of the company."

The airline will lease back the building from the EPF for five years, with an option to renew the lease period for a further five years.—AFP

Opinion

Editorial

E-governance
Updated 10 Jan, 2025

E-governance

Wishing for a viable e-governance system seems like a pipe dream when stable internet connectivity is not guaranteed.
Khuzdar rampage
Updated 10 Jan, 2025

Khuzdar rampage

Authorities must explain how terrorists were able to commandeer the area for eight hours.
Beyond wheelchairs
10 Jan, 2025

Beyond wheelchairs

THE KP government’s Rs370m assistance programme for persons with disabilities is a positive step, not only in ...
Taking cover
Updated 09 Jan, 2025

Taking cover

IT is unfortunate that, instead of taking ownership of important decisions, our officials usually seem keener to ...
A living hell
09 Jan, 2025

A living hell

WHAT Donald Trump does domestically when he enters the White House in just under two weeks is frankly the American...
A right denied
09 Jan, 2025

A right denied

DESPITE citizens possessing the constitutional and legal right to access it, federal ministries are failing to...