By virtue of being 100% owned- by Khazanah and the irrevocable and unconditional guarantee by the government, PMB is still able to issue bonds with strong ratings.
In the quarter ended June, Malaysia Airlines stunned investors when it announced losses of RM280 million due mainly to soaring jet fuel prices. It has since fired its managing director, Datuk Ahmad Fuaad Dahlan, and put in place an executive committee led by chairman Datuk Munir Majid who promised to arrest the decline. In that quarter alone, escalating fuel and other operating expenses wiped out RM700 million from its coffers.
A new CEO, Idris Jala, is expected to fill the hot seat in December to execute changes in operations and corporate culture. read here