Removal of MAS from MSCI Index expected

[Ikman Ikreza 0]

The removal of Malaysia Airline System Bhd's (MAS) stock from the MSCI Malaysia Index is expected as investors need to

switch to the new stocks that make up the index.

 

Its managing director/chief executive officer, Tengku Datuk Seri Azmil Zahruddin, said there was nothing to worry about the move.

 

"The airline's key focus is to enhance its shareholders' value and to be the number one in Asia by 2015 rather than targeting specific indices," he told a media briefing after the launch of the airline's frequent flyer and loyalty programme, Enrich Refined, here today.

 

On Bursa Malaysia today, MAS stock fell six sen to close at RM1.68. Azmil said the fall in the price was a natural response from fund managers who had to follow the index's movement and changes.

 

"For me, it's a good sign of a healthy stock market," he said.

 

On the Enrich programme, he said, MAS hoped to increase its membership to 2.1 million by year-end from 1.9 million last year.

 

Meanwhile, MAS senior vice president of corporate marketing and loyalty programme, Raja Datuk Nordiana Zainal Shah, said the loyalty programme has been refined to recognise its customers, reward frequent economy travellers and ensure the programme's competitivenes in its award structure.

 

"With its new simplified, innovative and bold identity, Enrich will continue to support the airline's strategy in enhancing its business-to-consumer reach," she said. -- Bernama

 

Source : http://www.btimes.com.my/articles/20110518210931/Article/