On 21-11-2011 MAS MD, En Ahmad Jauhari Yahya (AJ), told the Public Account Committee (PAC) in the presence of Tan Sri Azman Mokhtar, the ex-business partner of Rashdan when they were in BinaFikir Sdn Bhd, that Firefly made a loss of RM89 million! Read HERE. Yours truly has been reliably informed that as a mark of appreciation of the Firefly’s overall staff performance last year, MAS management rewarded members of staff of Firefly with bonuses from as high as 8 month and as low as 4 month salaries based on their respective performance.
Firefly staff have never received payment of bonus before and MAS never paid bonuses to its members of staff for a long time. The practice of paying bonuses to MAS staff was during the time when Tan Sri Aziz Abdul Rahman was the MD of MAS. Yours truly supports the practice of paying bonuses to Firefly staff if they have shown good performance and resulting in Firefly making profits.
In a short span of three months after AJ and En Mohamed Rashdan Yusof (Rashdan), the ex-business partner of Tan Sri Azman Mokhtar when they were both in BinaFikir Sdn Bhd, took over the management of MAS, they came out with a shocking revelation that Firefly lost RM89 million. This was contrary to what had been announced by the previous management of MAS. Yours truly wonders what accounting standard the new management of MAS has applied to come out with the figure of the RM89 million loss.
Did MAS under AJ and Rashdan follow the CREATIVE accounting standard that have been practiced by a famous AVIATION GURU? It is hoped that the revelation of the loss of RM89 million was not meant to justify the cancellation of full load Firefly flights during recent Raya season and the subsequent cutting of Firefly’s profitable routes. Read HERE.
AJ and Rashdan, the ex-business partner of Tan Sri Azman Mokhtar, had to account for the testimony that MAS gave to PAC on 21-11-2011 that Firefly made a loss of RM89 million! It was irreconcilable that when Firefly was making a loss and MAS management approved huge bonuses to Firefly staff in 2010. PAC will be having another meeting in January 2012 on the MAS-AirAsia share swap and your truly will be writing a letter to PAC with regards to the huge bonuses paid to Firefly staff in 2010 for their consideration.
In the interim, Tan Sri Azman Mokhtar, the ex-business partner of Rashdan and MD of Khazanah Nasional Bhd, and/or AJ must come clean on this matter and to publicly clarify how MAS arrived at the figure of RM89 million.
In its investigation into the secret MAS-AirAsia share swap and the so-called Comprehensive Collaborative Framework, MyCC should demand for all the audited accounts of Firefly and explanations from AJ and Rashdan about the state of affairs in Firefly.
1-1-2012 is drawing near and members of the public and the members of staff of MAS and Firefly should get ready to lodge formal complaints to MyCC with regards to the secret MAS-AirAsia share swap, the so-called Comprehensive Collaborative Framework that coupled with the cutting of MAS and Firefly routes and proposed selling of profitable divisions like Engineering and MasKargo for the benefits of certain entity and to stifle competition in the aviation industry in Malaysia. All were done in the name of the New Business Plans under AJ and Rashdan, the ex-business partner of Tan Sri Azman Mokhtar.