KUCHING: The Sarawak government is optimistic about finalising the acquisition of MASwings, with negotiations expected to be concluded by the first quarter of 2025.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said the state government through the Ministry of Transport (MOT) have reached an agreement in principle with the Malaysian Aviation Commission (MAVCOM).
However, he said differences in asset valuation have delayed the signing of the agreement.
He explained that the acquisition involves taking over all MASwings assets, which requires an accurate valuation to ensure both parties are aligned.
“Initially, we hoped to sign the agreement this month, but due to some differences in asset valuation, it has been delayed.
“Both sides have their audit teams, and we are now in the negotiation phase.
“We have our valuation, and they have theirs. To resolve this, we need a third party to estimate the value of MASwings.”
Abang Johari said this during a press conference after officiating at the earth-breaking ceremony of the new medical and commercial building of the Che Hia Khor Moral Uplifting Society Kidney Foundation today (Dec 30).
He further expressed hope that the process could be expedited given the government-to-government nature of the deal.
“We aim to finalise everything by early next year, possibly in January, February or March.
“At least by the first quarter of 2025, everything should be sorted out,” he said, adding that the agreement only requires minor adjustments before it can be formalised.
Transport Minister Datuk Seri Lee Kim Shin previously said that the sale and purchase agreement for Sarawak’s acquisition of MASwings was expected to be signed by Dec 31 this year.
He explained that this timeline was outlined in a heads-of-terms agreement reached between the Sarawak government and MASwings’ parent company, Malaysia Aviation Group (MAG).
“Upon signing the sale and purchase agreement, the transfer of MASwings’ ownership from MAG to the Sarawak government will take six to nine months, subject to certain conditions,” he said in his winding-up speech during the Sarawak Legislative Assembly in Nov.
This acquisition is part of Sarawak’s strategic initiative to enhance its regional air connectivity and boost economic development in the state.
