KUALA LUMPUR (Dec 16): A planned meeting between representatives from Khazanah Nasional Bhd and financial advisory firm Jentayu Danaraksa Sdn Bhd today has been postponed indefinitely, said a source close to the talks.

"The meeting has been postponed until further notice," the source told theedgemarkets.com today.

"It is understood that the sovereign wealth fund was unhappy that Jentayu had gone to the press and social media about their (alternative) proposal before discussing the details with Khazanah." the source added.

Khazanah had on Nov 28 announced that it had received no less than 28 business proposals expressing interest in participating in or complementing its five-year 12-point recovery plan for the loss-making national carrier.

"In this regard, we wish to state that as required by Khazanah’s operating processes and procedures, only credible proposals are evaluated and assessed, in a process that, if they qualify, will be ultimately tabled to the board of directors of Khazanah, or if appropriate, channeled to the management and board of the operating company (in this case, MAS)," Khazanah had said.

Jentayu had earlier submitted a proposal to the Prime Minister's Office to take over several assets within MAS, as part of an alternative proposal to complement Khazanah's 12-point plan for MAS.

Yesterday, Jentayu director Shukor Yusof told a press conference that the company will meet with Khazanah officials at 5pm today to discuss its proposal.

He also said that the company had tweaked its US$2.5 billion (RM8.75 billion) revamp plan to set up a new airline to be called Fly JD, adding that the company had dropped its original plan of taking over MAS assets including MAS Engineering Sdn Bhd and FlyFirefly Sdn Bhd.

Jentayu is now proposing to form an entity called JD Leasing to fully acquire the loss-making Penerbangan Malaysia Bhd, while providing strategic shares to Khazanah, at no cost.