Friday January 18, 2013
Khazanah MD brushes off suggestions for a privatised MAS
“When you take something private, you have to pay above the market price. It does not put money into the company, that goes to the seller. But the operation needs money. Do those suggesting a privatisation realise this?
“Yes, we can take it private, but that doesn't solve any problems. In fact you have to pump in more money because now you own 100%,” he told the media at the state investment firm's annual review.
Azman added that the discipline of remaining a publicly-traded entity was beneficial for MAS.
“Even if it is bad news, being listed forces MAS to face the market every quarter. Indeed, it has been gradually showing better results. We think this is good.”
On whether Khazanah was looking to extend its streak of listings from last year, which included mega initial public offerings like IHH Healthcare Holdings Bhd and Astro Malaysia Holdings Bhd, Azman said the firm was “constantly looking for windows to list”.
However, he stayed mum on what new companies could emerge in the market out of Khazanah's fold.
“A listing does two things for us. One, it validates the work we do because (our investment) goes to the market.
“Secondly, it allows us to harvest our investments. For us, there is clearly a motivation to list,” he said.