US$70m (RM308m) search for MH370 is on

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US$70m (RM308m) search for MH370 is on

KUALA LUMPUR, March 19, 2025: Transport Minister Anthony Loke Siew Fook says the Government has agreed with Ocean Infinity’s terms and conditions for a new search mission for Malaysia Airlines Flight MH370, which disappeared more than 11 years ago.

Loke stressed that the search would be conducted on a “no find, no fee” principle.

If the MH370 wreckage is found, then the Government would pay a fee of US$70 million (RM308 million).

There is a high possibility that the wreckage would be found as the UK-based exploration firm would not engage in such a search if they have nothing to work on.

No News Is Bad News reproduces below a news report on the new search:

Govt agrees to terms for new MH370 search, deal to be signed

FMT Reporters

-19 Mar 2025, 06:39 PM

Transport minister Loke Siew Fook reiterates that the search will be conducted on a ‘no find, no fee’ principle.

Last December, the government agreed in principle to accept Ocean Infinity’s proposal for a new search mission for Malaysia Airlines flight MH370. (Ocean Infinity pic)

PETALING JAYA: The Cabinet has agreed with Ocean Infinity’s terms and conditions for the new search mission for Malaysia Airlines flight MH370, which disappeared over 11 years ago.

Transport minister Loke Siew Fook said his ministry will represent the government in signing an official agreement with the UK-based exploration firm.

“The Cabinet’s decision allows for the search operation to locate the MH370 wreckage to commence in a new location about 15,000 sq km in the Indian Ocean,” he said in a statement.

Loke reiterated that the search will be conducted on a “no find, no fee” principle, which meant that Putrajaya will not pay Ocean Infinity any amount of money if the aircraft was not found.

“A US$70 million fee will be paid to Ocean Infinity if MH370’s wreckage is found. The government is committed to continuing the search operation and giving some closure to the next of kin of the victims,” he added.

In February, Loke said the government was finalising the contract with Ocean Infinity.

Despite that, he said the government welcomed reports by British media that the exploration company had already begun its search in the Indian Ocean yesterday.

Last December, the government agreed in principle to accept Ocean Infinity’s proposal for a new search mission based on the “no find, no fee” principle.

The disappearance of MH370 remains one of the biggest mysteries in aviation. The plane went missing on March 8, 2014, with 239 people on board, en route from Kuala Lumpur to Beijing.