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Malaysia Airlines' shares up on takeover offer

Shares of Malaysia Airlines (MAS) on Monday (Aug 11) rose as much as 10.4 per cent after state investment fund Khazanah Nasional's announcement that it will take the national carrier private. 

KUALA LUMPUR: Shares of Malaysia Airlines (MAS) on Monday (Aug 11) rose as much as 10.4 per cent after state investment fund Khazanah Nasional said it will take the national carrier private and purchase all minority shares, offering 27 sen per share.

MAS will be taken over by Khazanah Nasional under plans announced Friday, ahead of a "complete overhaul" aimed at saving the company from oblivion. Khazanah Nasional said it intends to de-list the company and finalise a restructuring plan by the end of the month.

MAS shares emerged as the most active counter on Bursa Malaysia on Monday, rising two sen to 26 sen per share as at 9.02am - 8.3 per cent higher than the 24 sen when the stock was suspended on Friday.

Speculation had been mounting that Khazanah would step in and steer MAS off the stock exchange to give the fund a freer hand as it works to resuscitate a carrier in crisis after the double disasters of MH370 and MH17.

Flight MH370 disappeared mysteriously in March with 239 people aboard, en route from Kuala Lumpur to Beijing. No trace has been found and the airline was widely criticised for its handling of the crisis. On July 17, MH17 was shot down over Ukraine, with another 298 people killed. 

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