Brahim’s ready to announce new MAS catering deal

PETALING JAYA: Brahim's Holdings Bhd looks set to announce a much-awaited new catering agreement with Malaysian Airline System Bhd (MAS) as early as today, as the extended time for the signing of the new agreement ended yesterday.
Its 70%-owned subsidiary Brahim's Airline Catering Sdn Bhd (BAC) extended the deadline for concluding a new catering agreement with MAS to May 10, 2015 from April 30 previously.
The group said in a filing with Bursa Malaysia last Friday, the second extension agreement is to give more time for the parties' legal counsels to finalise and conclude the new catering agreement.
Brahim's said the second extension agreement is expected not to immediately have material effects on the group's earnings per share, net assets per share, gearing, share capital and substantial shareholders' shareholding for the financial year ending Dec 31, 2015.
"The negotiations conducted thus far has enabled the parties to agree on the material terms and move closer towards a new catering agreement that is benchmarked against international standards and based on industry best practices to be signed between Malaysia Airlines Bhd and BAC," it added.