YB Tan Sri Nor Yakob and Md Nor: How much did MAS sell the 70% of MAS Catering?

Formerly known as MAS Catering Sdn Bhd

Tan Sri Md Nor Md Yusof (the architect of WAU), YB Tan Sri Mohamad Nor Yacob (the then Minister of Finance II, who was in charged of Khazanah under Badawi’s administration), Tan Sri Azman Mokhtar and the whizz kid En Mohammed Rashdan Yusof, the then consultants from BinaFikir Sdn Bhd) must clarify what was the selling price of the 70% share of MAS Catering Sdn Bhd (MCSB) to Gubahan Saujana Sdn Bhd (GUBAHAN). The answer will clarify what your truly had posted earlier regarding the sale of MAS Catering Sdn Bhd. Please read in HERE.  

GUBAHAN was incorporated on 18-06-2002. It is an investment holding company with no experience in airline catering services at the material time. GUBAHAN bought 70% of MCSB with a back to back exclusive agreement whereby MAS shall exclusively purchase all food supplies, beverages and all cabin related services for 25 years until 2028! This exclusive contract worth millions of Ringgit annually. We must bear in mind that MCSB is also providing similar services to 30 airlines in KLIA and Penang Airports. Therefore, it was not a surprise at all that GUBAHAN sold 49% of the 70% share in MCSB to LSG Asia GMBH, a company specialises in catering services for airlines which is related to LSG Skychef, a subsidiary of Lufthansa in Germany. Please read in HERE.

GUBAHAN being the 70% shareholders of MCSB is in full control of MCSB. Seven months later on 16-4-2004 the name of MCSB was changed to LSG Skychef – Brahim’s Sdn Bhd. Therefore, the sale of the said remaining 49% must have been sold to LSG ASIA GMBH during the period of 25-9-2003 – 16-4-2004.  You can easily see this name every where in KLIA and Penang Airports. MAS’s name was totally obliterated from a company it has set up in 1972. This was how various people under various projects have been helping and saving our national carrier, MAS. I don’t think that your truly have been wrong to say that “Stop Anaktirikan MAS – How about LSG Skychefs Rahim?” in one of my postings. Please read in HERE.

Now that we know that GUBAHAN sold the said 51% of its 70% share in MCSB for RM130 million to Tamadam Bonded Warehouse Bhd (TAMADAM) by way of issuance of new share. It will not be unreasonable for us to guess that the said 49% sold to LSG Aisa DMBH must be in the region of RM100 t0 RM120 million. Your truly hope that MAS sold the 70% of MCSB to GUBAHAN for at least RM200 million so as to make MAS “an aset light airline” – anything less than this amount will definitely make MAS to light and it may fly into the outer space!.

It must be noted that during the last few days after the exposure of the sale of 70% of MCSB to GUBAHAN, the TAMADAM’s website has been thoroughly revamped and one can no longer find the prominent name of Datuk Hj Ibrahim bin Hj Ahmad … (of course without the word “Badawi”). Your truly doesn’t understand why the sudden revamped.

The picture will be clearer when we get answers for the following questions:

1.  How much did MAS sell the 70% of its shares in MCSB?

2.  Who received the RM130 million worth of shares in Tamadam Bonded Warehouse Bhd?

3. How much did GUBAHAN sell the remaining 49% of the 70% of its share in MCSB to LSG ASIA GMBH, which is related to LSG Skychef?

3. What are the prices that MAS had to pay for all its supplies and services from LSG Skychefs-Brahim Sdn Bhd and the prices of the same supplies and services paid by other airlines in KLIA and Penang Airports?

4.  What are the terms and conditions in the contract between MAS and LSG Skychefs-Rahim Sdn Bhd and other airlines with LSG Skychefs – Brahim Sdn Bhd?

If the abovenamed four personalities chose not to be transparent then your truly will get the answers from the Minister of Finance through Parliament.  Your truly hopes that there are nothing to hide from all parties as they have been trying so hard to help and save MAS all these years. Now the same people are still trying with the famous secret share swap.

18 thoughts on “YB Tan Sri Nor Yakob and Md Nor: How much did MAS sell the 70% of MAS Catering?

  1. Project-Bastardisation

    Thank you, YB for your persistence.

    “MAS’s name was totally obliterated from a company it has set up in 1972. This was how various people under various projects have been helping and saving our national carrier, MAS.”

    Yes, their main objectives is to obliterate any company that has Malaysia in it.

  2. Johari of MAS

    No need so many questions because they will be too many for Nor Yacob and his friends.Just revealed the contract agreement between MAS and LSG Skychef Brahim. The clauses will be sufficient to show whether it was one sided or not. They should also show the agreement for the share swap.

    We would like to know also what that whizz kid had done to MAS operation and what he had committed on behalf of MAS from the day he was appointed until the new CEO took over. e.g the QPR jersey sponsorship, the cancellation of raya full load flights of FIrefly, the termination of Firefly profitable routes from JB to KK and Kuching.

  3. chiang

    To save MAS: The first step is to look into this food catering contract. But how to look at it. The MAS’s advisor is the brother of Datuk ibrahim bin Hj Ahmad. Ops! his name is without Badawi at the back. So it cannot be Badawi’s brother! The Tamadam’s website has changed. No more Ibrahim bin Hj Ahmad. so coincidental.

  4. namza

    Why is the government ‘closing an eye’ to a major malpractice without any action taken? PM Najib should now focus to MAS after gallantly terminating ISA laws. Terminate LSG Skychef @ Sleepy Badawi contract immediately before MAS goes bankcrupt. Then, get rid of Md Nor Yacop & Azman Mokhtar including SC Chairwoman and anyone else associated with it.

  5. Brian

    Rashdan is really a whizz kid ok. He has a string of degrees from Cambridge. Based on that alone WAU must be a good exercise that MAS was saved until today. MAS got lighter and use less fuel so made a lot of profits. This whizz kid is damn smart. Thats why Maybank bought over BinaFikir for RM8 million together with the whizz kid. Unfortunately he was whized out from Maybank because Maybank staff did not know how to appreciate him. So Azman Mokhtar grabbed him quickly and put him into Khazanah. Azman just know how to utilise good quality ex-BinaFikir boy.

    Please do not talk about how the deal of Mas Catering Sdn Bhd was struck. The whizz kid and Azman never knew who is this Datuk Hj Ibrahim bin Hj Adhmad. the surname of Badawi was not there mah……………..

    Tamadam and Kawan Food Bhd websites have been totally revamped. Look so much nicer but the name of pictures of LSG Skychefs Brahim and Datuk Ibrahim bin Hj Ahmad also out for Tamadam. In Kawan Food, Datuk Ibrahim bin Hj Ahmad was no more in it. Why took out. after all the the name of datuk Ibrahim Hj Ahmad was without Badawi so it is ok. Nobody know.

  6. Anonymous

    Alamak! Badawi is the advisor to MAS. So MAS has been flying so high. So why the share share swap? MAS Catering Sb was done Md Nor’s time to make MAS lighter. I am so sure that Badawi wouldn’t object because it was done to help MAS so that MAS will be the lightest airline in the world.

  7. MAS stooges

    Well done, Yb and Roslan kasim of perkasa. yes, nor yaakop, Kamaludin n Kali must be investigated otherwise rakyat will lose confidence in najib and ISA repeal a wayang kulit.

  8. hiang

    To make MAS lighter one must kill off Firefly. That’ why full load Firefly flights during Raya season were cancelled. Profitable routes from JB to KK & Kuching were terminated from 15the September. These four fells should tell us how many more Firefly and MAS profitable routes to be terminated in order to save MAS?

  9. Another MAS boy

    En Acura

    You definitely don’t understand about MAS Catering at that time. Since MAS Catering was 100% owned by MAS. So the prices charged must be low so that MAS can show more profit. Please compare prices charged to MAS at that time and what MAS had to pay for now. Then you will understand better.

    Please also use your brian to think. If MAS Catering is a losing company, do you think Lufthansa and Tamadam will buy. Since you pretend not to know, Tamadam value the 51% of the 70% of MAS Catering at RM130 million. How about the remaining 49% that LSG paid for. I believe YB had already asked for that information through Parliament.

    Please look at the name of the person related to Gubahan Saujana. Do you think that Datuk Ibrahim Bin Hj Ahmad Badawi will be so stupid to buy a useless company with zero potential.

    MAS wanted to buy back the 70% of MAs Catering a few years ago but negative respond from the owner.

    No one in the right mind will enter into an exclusive agreement for 25 years ok unless being forced upon. Rashdna, Azman Mokhtar, Nor Yacob and that Md Nor will be able help with the answer.

  10. En. Acura

    MAS Boy, from your first paragraph you said Mas Catering charged low prices so that MAS can show a profit and then you ask what are the prices charged to MAS now.

    Ok, I would guess the prices charged now would be higher as this ex-PM’s brother wants to make a profit. Is that wrong? Or you rather have the catering go back to MAS and as you say, charge low prices and make a loss, so that MAS can show a profit?

    Also lets put this in perspective, in 2001 before the sale, MAS paid RM135 million for inflight meals and RM2 billion for fuel. In 2010, they paid RM230 million for meals and RM4 billion for fuel. Don’t forget, MAS still owns 30% of catering so net effect is they paid RM160 million? That’s a difference of only RM25 million in 10 years. Source of this info is the annual report, I don’t have any deep throat like RPK.

    I cannot speak to why LSG agree to buy, but I would assume it’s because they saw an opportunity to leverage on their experience and operational know-how to run the kitchen more efficiently.

    In the utusan article it said the total price for MAS Catering was RM250 million. How much was paid to MAS? 70% of that? Was that too low? Too high? I don’t know.

    I’m not an insider but a stakeholder. During uni times I consume a lot of brahims food and if got money to fly back, will take MAS because it felt like you’re almost home the minute you step on the plane. Now I have not flown MAS in long time because its not value for money. No doubt there is something wrong with MAS and I support YB Wee’s efforts to seek the truth.

  11. MAS Boy

    En Acura

    The fact that 70% was sold to the brother of Badawi speaks for itself. Obvious nepotism. Don’t you think that if MAS really had to sell why can’t it be done by open tender. Please don’t try to defend an indefensible deals. There are more of such deals under Badawi ok. MAS Catering was just one of them.

    How about the 25 years exclusive contract with MAS? Do you think that this was the bad deal, Lufthansa and Tamadam would waste time to get into it. I know where you are coming from.

    Just answer these two principle questions then we can go further in our discussion.

    Do you know that the big chunk of Tamadam’s profits came from LSG Sky Chef Brahims (formerly MAS Catering)?

    MAS Catering was an in-house catering company. The core business of MAS. You are talking like the two Bina Tak Fikir persons in Khazanah. My friends in Khazanah also knew that the sale of the 70% was done like what it was done in this share swap.

  12. En. Acura

    MAS Boy, ya la you are right about the open tender and nepotism or croniysm. To be totally fair and transparent is something which our country needs to strive for. Can this happen under the current administration?

    I honestly don’t know if the deal was unfair to MAS. Perhaps YB Wee can get an answer in Parliament. But from public records it seems that the catering business was losing money before the sale and that after the sale, the amount paid to LSG for catering expenses remained relatively the same. Do you agree?

    Yes it should have been open tender but even now lots of things are done by direct nego, the MRT project, Sg Besi Base etc. Those are big fish compared to this.

    To answer your 2 questions:
    1. I agree bulk of their profits come from LSG. What is the issue?
    2. Catering is a core of an aviation business but not core for an airline business. Do I agree with this WAU thing and restructuring/refocusing, asset light mumbo jumbo? Maybe I don’t either. Please don’t compare me to the bina tak pikiak guys.

  13. Anonymous II

    YB, let me share some facts – bodohwi is seen wearing pampers and having employed personal physician to care for his health after swallowing rakyat’s blood and sweat. His physician carries a physician kit worth RM50k wherever bodohwi travels to. It’s very clear bodohwi needs huge income to cover his medical and travelling expenses. Having said he does wear pampers, it could due to retribution from god for his sins whilst he was the powerful. I hope other would not be next leader to receive the curses from god.

    note: sorry for the slight edition just to avoid unnecessary problems.

  14. Pingback: Azman Mokhtar Must Go Now (Part 3) | Jebat Must Die

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