Sarawak govt conducts due diligence to acquire MASWings

Sarawak govt conducts due diligence to acquire MASWings

The operation of the Sarawak-owned airline will commence once the whole takeover process is finalised, says the state's deputy transport minister Jerip Susil.

The Sarawak government is currently in negotiations with Malaysia Aviation Group and Khazanah Nasional to acquire the shares in MASWings. (Bernama pic)
PETALING JAYA:
The Sarawak government is currently conducting due diligence on MASWings Sdn Bhd as part of its takeover bid, said the state’s deputy transport minister Jerip Susil.

He said negotiations are also ongoing with Malaysia Aviation Group (MAG) and Khazanah Nasional Bhd to acquire the shares in MASWings.

“The takeover will be in stages and the operation of the Sarawak-owned airline will only commence once the whole takeover process is completed and finalised,” he said in a reply to Lo Khere Chiang (GPS-Batu Kitang) who wanted to know when Sarawak’s own airline will start operating.

On Oct 27, Sarawak-owned company Hornbill Skyways Sdn Bhd and MAG inked a memorandum of understanding (MoU) to expedite the acquisition of the shares in MASWings for the management of rural air services.

Sarawak premier Abang Johari Openg said the MoU will pave the way for detailed discussions between both parties to ensure that the state acquires the majority stake in the airline.

Hornbill Skyways, which has been operating air charter services in Sarawak since 1977, was mandated to take over the ownership of MASWings and operate rural air services in Sarawak and Sabah.

Abang Johari said the state government aims to make Kuching the airline’s main hub and expand the carrier’s routes to regional destinations, including Australia, Hong Kong, Singapore, Japan, South Korea and India.

However, he said MASWings would not be profit-oriented as the aim of the expansion is to serve the people.

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