Tag: (EPF)

MAHB’s Local Stake Must Not Fall Below 70 Pct — PAC

KUALA LUMPUR, July 1 -- The Public Accounts Committee (PAC) has recommended that the combined shareholding in Malaysia Airports Holdings Bhd (MAHB) by Khazanah Nasional Bhd and the Employees Provident Fund (EPF) be maintained at a minimum of 70 per cent to safeguard the nation's strategic control over the airport operator. PAC chairman Datuk Mas Ermieyati Samsudin said the recommendation was aimed at ensuring that national sovereignty and strategic interests remained protected following changes to MAHB's ownership structure. "To preserve the country's strategic control, the combined domestic shareholding under Khazanah and the EPF must be maintained at no less than 70 per cent," she told a press conference at the Parliament building here today. The committee also recommended that any future changes to MAHB's equity ownership structure or the disposal of its strategic assets be subject to Cabinet approval through a transparent process. "PAC also recommended that MAHB strengthen integrated strategic collaboration with the Ministry of Finance, Ministry of Transport, Ministry of Tourism, Arts and Culture, Ministry of Investment, Trade and Industry, the National Security Council (MKN) and the Ministry of Communications to coordinate the development of the aviation industry," she said. Mas Ermieyati said the committee also recommended the early engagement of industry stakeholders, particularly local airlines, in infrastructure development planning to ensure that new facilities meet actual operational requirements. “To improve operational efficiency on a continuous basis, MAHB was urged to establish a regular consultation mechanism with major airlines to ensure that development planning is carried out through a consultative rather than unilateral approach,” she said. On transparency, PAC recommended that MAHB continue publishing periodic reports on its operational performance and key performance indicators (KPIs) for public access even after its delisting.  The Finance Ministry and the Ministry of Transport were also urged to ensure that MAHB submits regular progress reports on physical implementation and cash flow of high-impact projects, including the Aerotrain replacement, Baggage Handling System (BHS) and airport expansion works, to facilitate effective monitoring. The committee further recommended that these project progress reports be tabled in the Dewan Rakyat and submitted to the relevant Parliamentary PAC for the purpose of continuous checks and balances. “Procurement procedures and the contractor screening system should be tightened in collaboration with the Malaysian Anti-Corruption Commission (MACC) and the Malaysia Competition Commission (MyCC) to curb cartel practices and safeguard the quality of public infrastructure," she added. -- BERNAMA 

KUALA LUMPUR, July 1 — The Public Accounts Committee (PAC) has recommended that the combined shareholding in Malaysia Airports Holdings Bhd (MAHB) by Khazanah Nasional Bhd and the Employees Provident Fund (EPF) be maintained at a minimum of 70 per cent to safeguard the nation’s strategic control over the airport operator. PAC chairman Datuk Mas […]