31 thoughts on “Deputy Finance Minister told Parliament: MAS-AirAsia share swap based on share price on 5-8-2011

  1. Mohd ISA of MAS

    Ha ha very well done, YB. Why awang adek responded, shud be nor yaakob. Anyway awang, you have been given a lot of bulls by the gaji buta gang, so bulls in, bulls out!

    Reply
  2. Sidek

    Who gave Rashdan the authority to commit MAS to sponser Tony’s football team? Absurdity of the highest degree!

    Reply
  3. Anonymous

    KUALA LUMPUR: The government said today that it had “no choice” but to let the embattled Malaysian Airlines System (MAS) be headed by someone with no experience running an airline.
    Deputy Minister of Finance Awang Adek Hussin made the admission in the Dewan Rakyat and pleaded with the public to “give a chance” to Ahmad Jauhari Yahya to prove himself worthy of his new appointment.

    Ha, ha, ha.. the joke of a century.

    Reply
  4. Rosli of Khazanah

    Awang Adek’s years in Bank Negara was a waste. Bank Negara should be ashamed to have an ex-officer with such mentality. Transaction worth billion of RM and Awang Adek talked about share swap based on share price during the last day of closing. Who else knew about the last day of closing price? Must be the interested parties. Common sense lah. No need a scientist to tell you that. Security Commission must be too busy looking at how E & O share prices going up and down.

    This is a clear case where Security Commission can really do an investigations. The culprit can be found through those purchases and selling of share at that material time.

    KLSE, was sleeping and still sleeping. It is so obvious that MAS and AA did not lodge any report about their negotiations for the share swap. Why no penalties against the directors of both companies? It is a BOLEHLAND!

    Reply
  5. Danny the idiot

    This Danny boy is just a Pak Turut to the Thambi. The Thambi snaps his finger Danny boy will run like dog. On one hand his former business partner tells him that MAS has no money and he spent MAS money to sponsorship the Thambi’s football club.

    Oi! Little boy Danny , are you keeping your otak between your legs?

    No wonder WAU failed when you only Bina but otak-less! You better throw your Cambridge degree into the drain. You made Cambridge Uni ashamed.

    Reply
  6. Razak of MAS

    SC, Please check the historical prices from Bursa KL on AirAsia and MAS and you will see the pattern of the active trading of AIrAsia and MAS. The evidence was so glaring until they will make you blind! But SC of course is still sleeping or due to willful blindness.

    Bursa KL, it was so clear that no reports have been lodged about the negotiation of the share swap. Why no actions have been taken? Must be also suffering the sickness of Willful Blindness. All gaji buta.

    Reply
  7. Munir

    To really save MAS, the first thing to do is get rid of Tan Sri Azman Mokhtar and Tan Sri Nor Yakob from Khazanah. Rashdan and Datuk Azman Yahya from MAS Board. This is a must do.

    Reply
  8. Amir

    Wake up! Wake Up! Wake Up! SC – don’t you understand what is insider trading? YB whack the SC also during the budget. Don’t spare SC. If SC is doing its job then the security market will be more orderly.

    Hello Datuk Nazir CIMB (the arranger of the share swap) why are you so quiet these days? you should help your friend Tony & friends mah!

    Omar Ong where are you beside sitting nicely in AirAsia Bhd board?

    I thought that there was no 4th floor but it seems that 4th floor is still around.

    Reply
  9. MASeu member

    DS Najib, please take action fast before the whole cabinets, govt agencies and GLCs make a fool of themselves and before investors realize uiithe truth and start dumping their shares. Tq

    Reply
  10. Azlan of Khazanah

    Tan Sri Mokhtar and Rashdan with all the degrees. Where are your brains? You got to be brainless for share swap to be based on closing prices.

    Why both of you didn’t inform the Bursa KL of your negotiation with Tony over the share swap? Bothof you are going against the BURSA KL Rules. Tan Sri Azman you are not fit to head Khazanah because you do not follow rules or you have failed to advise your macai to follow Rules.

    What else you have done that you did not follow the existing Rules? The MOF should investigate into Azman’s activities in Khazanah.

    Reply
  11. Jay

    BURSA KL and SC are all sleeping until now. A clear case for BURSA to take action as no reports were lodged by both AirAsia and MAS regarding the share swap negotiation worth billion of Ringgit.

    SC needs to only look at the movement of the share prices and volumes from April 2011 especially AirAsia. SC don’t tell us that you need us to tell you what to do.

    All gaji buta and sitting pretty, YB whack them in Parliament so that they can wake up.

    Reply
  12. MAS Boy

    The picture is showing a happy family. Both were smiling away at the rakyat. Kerjasama was the key word but kerjasama for who? the facts showed that the kerjasama was for Airasia all the way. Awang Adek please give a clearer answer next time. Please don’t make yourself to look so stupid.

    Share swap based on share prices! how stupid can Khazanah and Awang Adek be. Why NTA/valuation was not used to calculate the percentage of share. Share prices can be manoipulated as pointed out by YB. I have looked at the historical prices in BURSA KL website. It can not be clearer that there were grounds for an investigation into possibilities of INSIDER TRADING! Only the blind cannot see it.

    KLSE what are you all doing? Pleae take actions now for not reporting of the intending share swap. Penalise MAS/Khazanah and Airasia. Tan Sri Azman Mokhtar should be made to pay for the fine and to be reprimanded. KLSE must take strong actions against MAS.

    SC. Of course too busy with Azizan Bakar’s problems in the E & O deals. So no time. The government should take action on KLSE and SC for being asleep.

    Reply
  13. Anonymous

    In Islam when you hold Public Office you must tell the Truth when you speak. When you make a Promise you must keep it. And when you are given Trust you must not betray it.

    Todate God has been very kind to Malaysia. Many Third World countries in the Asian and African region are being devastated by floods, drought, Tusunami, fire, famine , earthquake and not to mention civil war. I do not know how war can be civil. But we in Malaysia have been spared. I hope that we do not miss this opportunity to get a head beacuse I am afraid that by the time you wake up God,too, may wake up to tell us that our time is up.

    Reply
  14. Anonymous

    Malaysian Airlines System Employees’ Union (Maseu) secretary general Ab Malek Arif said the staff of the national airlines had not forgiven former prime minister Dr Mahathir Mohamad for appointing Mr T to replace Abdul Aziz as the MD in the 1990s.

    Claiming that invisible hands had been at work since T’s appointment, Malek recalled how MAS was making profits every year before T came on board.
    He said since T’s entry, “MAS not only did not make profit, in fact it has been making losses every year.

    “It is clear that MAS staff are still angry and cannot forgive what Mahathir did,” he said

    He, he, he Che Det, macam meludah ke langit .

    Note: Sorry just a minor edition to avoid unnecessary problems.

    Reply
  15. sharifah

    Dear YB, Great job! Now that the deputy minister is squirming, we must rally the unhappy politicians on both divide to keep pounding till the matter is solved. I am writing to my MP on this. 1 letter 1 citizen, lama2 jadi thousands of letters which they surely cannot ignore. Lets start a campaign for transparency especially when dealing with public concerns.
    YB, is it also possible to bring up the PPSMI issue? I am a parent strongly for teaching of Math & Science in English. I really dont buy the excuses given by the Ministry on abolishing this. It is a ‘no-brainer’ matter that english should be the medium for these 2 subjects. All reference matters on these subjects available over the varius mediums are in English. This is also a critical matter as it involves the well-being of our future generation and our Malaysia. Based on my own experience, I’d rather hire a ” well-spoken English ” applicant with lower grade points than one with higher grade points but can hardly form a proper sentence. How do we go global if we continue to churn out graduates of this calibre.
    Tq YB and may you be blessed with strength & courage!

    Reply
  16. Rizal

    Awang Adek: Kerjasama means to screw up Firefly and ultimately MAS. Please use our brian to think before you make such a silly statement. Where on earth company used share prices to determine share swap. Gunalah otak sikit Timbalan Menteri.

    Reply
  17. Kana

    YB Awang Adek and the Tun Azman Mokhtar. Stop bullshitting. Kerjasama or collaborative frameworks need not involve share swap ok. Who are both of you trying to fool? Other co-operation or kerjasama between other airlines do not involve share swap except Khazanah’s idiots.

    Sponsorship costing RM18 million was a form of collaboration? bullshit! it was a form of bleeding MAS to help the thambi.

    Reply
  18. Average Joe

    @ bukanawang

    quote: “TUN dah setuju dan kata OK!! korang nak bising apo lagi!
    Oklah tu!!”

    please learn how to read between the lines and don’t make yourself look stupid. the following are courtesy of Mr Don Rahim from PROMUDA:

    Dear all,

    Let me show you briefly how to detect a very subtle media spin and ways to uncover it.

    I’ll give you a real life example.

    The MalasyianInsider says “Dr M says fed up with MAS, backs AirAsia swap deal”
    See http://www.themalaysianinsider.com/malaysia/article/dr-m-says-fed-up-with-mas-backs-airasia-swap-deal/ .

    Cuba baca tu dulu & tanya diri sendiri;

    Is is true that Tun Dr M supports the MAS-Air Asia swap deal?

    Or ni tak betul langsung?

    1st rule : Always go to the main source of the news to find out.

    The source is from Tun’s blog, heading “Supporting MH/AK”
    See http://chedet.cc/blog/?p=605#more-605 which I reproduce at the end.

    2nd rule : Baca apa Tun tulis tu betul-betul and cuba faham.

    Then you’ll notice the following;

    Tun cuba explain kenapa dia sokong MAS dan Air Asia untuk bekerjasama sebab ada yang tanya dia tak nampak ke ni bad deal dan MAS dah kena tipu dengan Air Asia.

    Tun pun jawab dengan panjang lebah kelebihan Air Asia dan dia dah fed-up dengan MAS. Dan MAS patut belajar dari Air Asia katanya.

    Tapi apa yang penting ialah Tun cakap walaupun dia sokong kerjasama tu secara prinsipal, dia TIDAK DIBERITAHU apa bentuk kerjasama tu atau secara detail (Swap ke, merger ke, LBO ke, MOU je ke etc). I quote below.

    “When I (Tun) was told by Azman Mokhtar that MAS was looking into ways of working together with Air Asia, I did not object. In fact I welcome the proposal. How the co-operation is to be carried out was not told to me…”.

    As they say, the devil is actually in the details. Once you know the details, only then can you see through the scheme! Haha…

    So the right heading should be “Dr. M supports MAS-AirAsia Cooperation in Principle, But Was Not Told about the Swap Deal”!

    CONCLUSION :

    So tak betullah yang Tun sokong swap deal tu, sebab masa tu dia tak tahu detail ……….dia sokong kerjasama je secara principle!

    That is his explanation on why he is perceived to be supporting a bad deal. But biasalah, kena spin by some media for certain interests.

    Rasanya sedih betul, Tun Dr. M pun nak digunakan untuk kepentingan pihak-pihak tertentu..

    Salam,
    Don

    http://chedet.cc/blog/?p=605#more-605

    SUPPORTING MH/AK
    Sep27
    2011
    23 Comments
    Sep27
    2011
    23 Comments Written by chedet
    1. I have been asked why I support bringing MAS and Air Asia together. Don’t I know that it is a bad deal; that MAS has been cheated by Air Asia?

    2. I support MAS/Air Asia cooperation because for years now I have been fed-up with the management of MAS. Government had supported MAS with funds and protection but MAS had never done well.

    3. Air Asia is a newcomer but it has managed to sustain itself. Despite giving free seats and cheap fares it is still surviving. And it is apparently making some profits. By right it should close down by now. That it is still around must be because its management knows something that I don’t know.

    4. I visited the head office of Air Asia and I flew Air Asia to London and I understand a little how Air Asia operates.

    5. Let us take one example. Air Asia Airbus A340 flew into Stanstead, England, with a full load of passengers and I mean full load. The business class was full.

    6. I will not mention the VIP treatment that I got. It is not standard and therefore it should not be cited as an example.

    7. But what I noticed about the operation is that having flown for 13 hours non stop KL-London, the aircraft flew back to KL one-and-a-half hours later (with a different crew of course).

    8. But MAS aircrafts stay on the ground in Heathrow for at least 12 hours. On some routes the air crew would stay in hotels for four days before flying back.

    9. When airlines stay on the ground they will not help earn income for the company. Instead they have to pay ground parking charges. Commercial aircrafts should be flying most of the time. Then and then only will they earn money for airlines. And air crews should fly after the statutory rest requirement. Can it be that four days rest is required to certify that crews are fit to fly.

    10. This is just one example of not so good management. MAS has a huge staff but Air Asia make-do with a very much smaller staff. They engage in multi-tasking. In fact Air Asia does everything possible to minimise overheads. It would be interesting to compare MAS’ overheads per aircraft against that of Air Asia.

    11. Long ago I told a very senior man in MAS to learn from Air Asia its operations and how to cut cost. I don’t know whether he did.

    12. When I was told by Azman Mokhtar that MAS was looking into ways of working together with Air Asia, I did not object. In fact I welcome the proposal.

    13. How the co-operation is to be carried out was not told to me. That is up to the parties concerned. All I wanted to see is Air Asia’s management playing a role, indirectly or directly in the management of MAS. I believe Air Asia can contribute in this area i.e. unless MAS is not prepared to learn from a “cheap” airline. That would be a tragedy.

    14. I hope I have made clear why I support MAS and Air Asia working together.

    Reply
  19. hazou

    Average Joe

    That is what they called selective truth..nobody interested in between the lines anymore..anyway i don’t know if our people is just plain stupid or what..anyway YB..kudos..keep up the good work..hope there is more like u in the next GE.

    Reply
  20. Anonymous

    To solve problems in MAS and other GLC, the government must get rid of Mohammed Rashdan Yusof and Tan Sri Azman Mokhtar. Both were from BinaFikir Sdn Bhd. They are only good in theory and appointing consultants to solve the problems. THen they will hide behind the reports by consultants. What is the points?

    We need good professional managers. In the case of MAS and AirAsia share swap you don’t a genius or consultant to tell us that share swap cannot be based upon share prices as it is subjected to manipulation as we can see from the trend of the movements of shares as pointed by YB. It should be based on NTA. But these Bina but brainless idiots agreed to the share swap as though they just graduated from primary school.

    Furhter, collaboration or co-operations need not be done with share swap. We have seen companies in the world having co-operations without share swap or representation of the board of director. Whereas in the case here, AirAsia represented by Tony and Kamarudin and MAS has no representation in AIrAsia. How stupid can you be Tan Sri Azman and Rashdan. Or you are pretending to be stupid. This share swap is a daylight robbery to say the least.

    So the government must get rid of the dead wood in Khazanah. managers like Tan Sr Azman Mokhtar and Rashdan must be kicked out to save MAS and other GLCs otherwise the future of this country will be very bleak.

    Thank you YQ for a good piece especially on the facts on INSIDER TRADING. It was too clear for SC to ignore.

    Reply
  21. Anonymous

    YB when are you going to post the letter to of complaint to PAC? Please post it as we want to read it.

    Thank you

    Reply
    1. weechookeong Post author

      Anonymous

      I will have it posted in an appropriate time. Let the “Pandai Bina and the Tak Fikir” and the WAU gang sweat it out. Why should we them the time to prepare themselves. They have treated Malaysians as idiot lets give them sleepless night. They all looked so happy after the secret share swap signing ceremony. When Budget Debate starts on Monday then they will soon not be able to smile!

      Please bear with me bro.

      Thank you.

      Regards

      wee choo keong

      Reply
  22. Anonymous

    Yes people, we need to expose this TF for who he is really is, a snake charmer who can sell fridge to Eskimos, Virgins to Richard Branson, Disneyland to Walt Disney, Queen to the British and MAS to Khazanah.

    Reply
  23. MAS Jokers

    Well done people, all these crooks are wetting their pants.
    It is time the Rakyat overhaul MAS and soon our beloved country.

    Awang Adek, are you that stupid or just plain incompetent?
    Either way please do the honourable thing or kelik kelate jelah.

    Reply
  24. Anonymous

    There are current plans in MAS to move all the staff progressively to Klia from Subang. In doing so they are in position to reduce headcount without much effort as not all staff are willing to relocate. This is how T takes care of the staff:-) not through dialog but devious schemes to reduce overhead costs.

    Reply

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