Khazanah Nasional Bhd hopes the government will enact the ‘MAS Act’ early next year, before MAS NewCo is set up in the middle of next year.

According to the RM6 billion recovery plan for MAS, its shares will be  delisted from Bursa Malaysia by year-end and a new company (Newco) will be created to carry on the airline's business.

To facilitate the restructuring of the national carrier in a comprehensive timely and holistic manner, the government will table a new law in Parliament called the MAS Act.

Managing director Azman Mokhtar said the act is an important enabling act, which is expected to be tabled in Parliament when the third sitting of Dewan Rakyat resumes next week.

“The Act is urgent but we can wait until the start of the new year,” he told reporters on the sidelines of the Khazanah Megatrends Forum 2014 in Kuala Lumpur today.

He said Khazanah Nasional had started work on structuring the MAS Act with the Attorney-General’s Office.

Azman said one month after the plan to revive MAS was unveiled, there had been many communication sessions among Khazanah Nasional, MAS and the government.

Meanwhile, he also today confirmed that Khazanah Nasional will eventually list Themed Attractions and Resorts Sdn Bhd on Bursa Malaysia, although not this year.

“The theme park company is doing very well and we are in no hurry to list it.

“This will be a decision that Khazanah and the Themed Attractions board of directors would jointly make,” he added.

- Bernama