MAS climbs after pact with KLM

Malaysian Airline System Bhd had its biggest two-day advance in 10 months after signing an agreement with Air France-KLM Group’s Dutch KLM unit to foster closer cooperation.

The stock climbed 4.9 per cent to RM2.13 at 10:16 a.m. in Kuala Lumpur trading, adding to yesterday’s 5.7 per cent gain. The two-day 11 per cent increase is the most since Feb. 23. The announcement was made yesterday.

“We are positive on this development as it could help Malaysian Air ride on KLM’s global network and possibly drive cost efficiency,” Wong Ming Tek, an analyst at HwangDBS Vickers Research Sdn Bhd said in a report today. -- Bloomberg