Chandran Rama Muthy jadi major share holder dalam Malindo

Voyagers · Post time 2-2-2017 04:20 PM

Major shareholder Nadi cuts stake in Malindo Air

KUALA LUMPUR: National Aerospace and Defence Industries (Nadi) has reduced its stake in Malindo Airways Sdn Bhd to 5% from 50.99%.

Malindo CEO Chandran Rama Muthy has now emerged as a major shareholder in the joint venture with Indonesia’s Lion Group, according to a report in The Sun.

It was not known why Nadi reduced its stake in the joint venture which was announced with much fanfare in 2012, added the report.

Nadi is a Bumiputera company. Its subsidiaries include Airod, Aerospace Technology Systems Corp and SME Aerospace. It offers a range of aviation services, including repair, maintenance and overhaul.

The Sun report said the Companies Commission Malaysia reports it had sighted showed that Chandran and his wife, Kalpana Devasagayam, now owned a 46% stake in Malindo Air’s operating company Malindo Airways, through Sky One Investors Sdn Bhd. Chandran and wife own equal portions in Sky One.

Former majority shareholder Nadi now holds only a 5% stake, while the remainder is owned by Indonesia’s PT Lion Group.

The report said attempts to get comments from Chandran were unsuccessful.

Meawnhile, Malindo Air announced yesterday that it was moving closer to getting membership in the International Air Transport Association (IATA), after registering for the IATA Operational Safety Audit (IOSA).

If it succeeds, it will become the second local airline to do so after Malaysia Airlines. Malindo hopes to gain membership within two to three months.

The IOSA registration is valid from June 4, 2016, to June 3, 2018. It is a requirement in applications for membership in IATA.

IOSA is an internationally recognised and accepted evaluation system for the operational management and control systems of an airline. An audit occurs every two years once an airline successfully completes the first audit.

In November, Malindo Air was named winner of the CAPA 2016 Asia Pacific Regional Airline of the Year award.

Malindo, a regional, budget airline, has been operational since March 2013.