Updates 6-3-2012: Apparently there was no due diligence carried out before inking in the much talked about secret MAS-AirAsia share swap wrote Outsyed The Box. Well, on 14-8-2011 five days after the said secret share swap agreement was inked by Tan Sri Azman Mokhtar, MD of Khazanah Nasional Bhd (Khazanah) and ex-business partner of En Mohammed Rashdan Yusof aka Danny Boy, Tan Sri Azman Mokhtar admitted to the bloggers on that very night that the option to purchase the 10% share of AirAsia X Sdn Bhd was a “DODGY DEAL”. Despite it was a “dodgy deal” Khazanah went ahead to appoint Morgan Stanley Investment Banker to evaluate the share of AirAsia X Sdn Bhd. By now Khazanah may have had exercised the the said 10% option. Typical of the people from the famous “Bina Tak Fikir”. Yours truly will try to get answers about this “DODGY DEAL” from Parliament when Parliament is in session commencing March 12, 2012. Read HEREfor the article: AirAsia “Now Everyone Cannot Fly” , “Is AirAsia that cheap?” by the Mole inHEREand HERE.
On 1-3-2012 En Ahmad Jauhari Yahya (AJ), the MAS CEO, and his deputy, En Mohammed Rashdan Yusof aka Danny (Rashdan), the ex-business partner of Tan Sri Azman Mokhtar (Amok) in BinaFikir Sdn Bhd, have proudly announced that MAS posted RM2.5 bilion losses for year ending 2011. AJ also said that MAS is in crisis! Perhaps it is a case of MAS management is in crisis because they are clueless about the aviation industry. Please read in HEREfor the press report.
It is interesting to note that Rashdan, the Amok’s crony, has been quoted to have said that “he did not rule out the possibility of a cash call and the selling of non-core assets to raise cash.” A typical “Bina Tak Fikir” approach to the situation. This was what both Rashdan and Amok, when they were partners in BinaFikir Sdn Bhd, did to MAS in 2002 / 2003 under the failed project known as “Widespread Assets UN-Bundling” (WAU).
In 2003 under WAU, MAS sold 70% of its share in MAS Catering Sdn Bhd (MAS Catering) to Gubahan Saujana Sdn Bhd, a company controlled by Datuk Hj Ibrahim bin Ahmad Badawi, the brother of the former PM. In June 2006, Tan Sri Azman Mokhtar was appointed the MD for Khazanah Nasional Bhd by the Badawi Administration, in HERE.
After the sale of the 70% of MAS Catering, MAS entered into a 25 years one sided agreement with MAS Catering. If MAS terminated the said one sided MAS had to buy back the said share. Until this date, the details of the said one sided agreement has not been made public. Soon thereafter, Gubahan Saujana Sdn Bhd sold 51% of its 70% share in MAS Catering to Tamadam Bonded Warehouse Bhd for the value of RM130 million and the remaining 49% to LSG Asia GMBH, a subsidiary of Lufthansa. Only God knows, how much did Gubahan Saujanah Sdn Bhd sell the 49%? Please read in HERE.
MAS Catering is now known as LSG Sky Chef Brahim Sdn Bhd (LSG). MAS logo is no longer in LSG although MAS is the biggest customer of LSG. It is a case of history re-written by WAU!
Rashdan, the Amok’s crony, must have in his mind of disposing of MAS non-core asset like what has been done to MAS Catering under WAU. Yours truly believes that Rashdan, the Amok’s crony, must be thinking of disposing MAS Engineering, MAS Cargo and the like to “you know who”. Then MAS will sign a back to back one sided agreement with “you know who”. This was the modus operandi under WAU, which was a case of “Bina Tak Fikir”. Then Amok’s crony will call it WAU-2! But at what cost to MAS and the nation!
Now lets look at AJ’s closing remark: “if we follow our business plan, we should be in the black (this year).“ AJ was confident because of the provisions of RM1.09 billion for non-cash items in the RM2.5 billion losses, which the new MAS management was relying on to justify their senseless acts of cancellation of Firefly full load flights during Raya season, terminations of Firefly and MAS profitable routes, moving office to KLIA, changing of letterheads and signage and etc all under the name of “cost cuttings”. But at the same time the ex-BinaFikir went on a spending spree like paying sponsorship money of RM18 million to QPR, employing Mat Salleh consultants and etc when MAS was supposed to be bleeding. Please read in HERE.
The new management is not thinking of generating more revenue by flying to more destinations in competition with other airlines including AirAsia and plug the LEAKAGES in MAS like removing the “deadwoods” and looking into ways and means to cancel the one sided contract with LSG which has a remaining period of about another 15 years. Well, disposal of so-called non-core assets is an easy way out for management that is bogged down with consultant mentality! If this is the way to turn around MAS then MAS does not need Rashdan, the Amok’s crony, and the Mat Salleh consultants to manage MAS.
In any event, the RM2.5 billion figure quoted by AJ and Rashdan, the Amok’s crony, was based on “UNAUDITED ACCOUNTS” of MAS. So the managmenet can make all kinds of provision as they like to inflate the losses so that they will look good at the end of the year as they have got RM1.09 billion cushion to play with. Why can AJ and Rashdan produce an audited accounts for us to see what they have achieved after they taken over MAS.
Presumably with En Rozman Omar, the former key employee of AirAsia, Mr Martin Burrow and other Mat Salleh consultants like PlaneConsult on board, MAS will be in the black by year end as guaranteed by AJ and Rashdan, the Amok’s crony.
Well, Parliament will be sitting on 12 Marh 2012 and yours truly is sure that Rashdan, AJ, Amok and the Mat Salleh consultants will be one of the hot topics for debate. Lets see what the Minister of Transport and Minister of Finance have got to say about those “SENSELESS ACTS” done by Rashdan, the Amok’s crony. Please read HEREandHERE.
Please also read an interesting article on the same subject matter by Another Brick In The Wall in HERE.
43 thoughts on “AJ & Rashdan: MAS or MAS management is in crisis?”
My dear YB
Thank You for your tireless effort to uncover. If only all the YBs from both BN n Pakatan r like you, this country could have been in a far better position than it is now. Alas, what to do if we have parties like DAP who prefer a car salesman to stand in an important constituency as Bukit Bintang than you, a learned and discerning lawyer.
Well, with regards to the subject matter you have just highlighted, I do have bits n pieces of information re the sale of MAS Catering n can vouch for what you said above. It is outright corruption facilitated by Amok n that Bina Tak Fikir Danny n I think the Powers that be in Putrajaya knew about this unfair sale. They just allowed it so that they can blackmail Paklah if they want.
To unwind these contract, all the Government wld need to do is to start relevant investigation on the parties involved n they will ll come begging including that foreign thief ..!
stupid AJ & danny running the business like bapak dia punya company. they sell everything and this year declare profit and the following years when they cabut, MAS need to pay all the services like AO, engineering, simulator that currently owned by MAS. lepas tu MAS rugi plak. soooo stupid AJ and Dany.
IF PM DID NOT DO ANYTHING ON THIS, HE CAN FORGET MY VOTE IN NEXT GE……
If you look at the business mantra of Khazanah, they will keep saying ” we want to dispose this and that because it’s non core assets”. I don’t think they know themselves what are the core assets and what nots. For example CIMB is regarded as their core assets but Bank Muamalat is not. And both are in the banking business. Post Malaysia is another good example – how can this not a core assets of KNB when this is important function that a government should provided to it’s citizens. Khazanah being an organization that owned by the government of Malaysia should invest and continue to invest in these kind of companies since it’s a necessity services. Khazanah spent billions overseas in Turkey and Singapore and how many jobs opportunities were created due to investments. Did you hear plane loads of Malaysians moving to Turkey because of this investment? Back in October 2010 Khazanah invested in a London based carbon trading company called Campro Ltd by buying their shares at an average price of 20 pence per share. Total investment $USD 50 million. Today the share of the same company is trading at 7.5 pence. 2/3 of the investment value down the drain. How many job opportunities for Malaysians because of the investment . I bet you can count will your 10 fingers! The bottom-line is Khaznah investment does not help the country and Malaysians – hardly any job opportunities were created. Today Khaznah is employing more than 400 people but it top ranking , those with Executive Directors title are non Malaysians. How does you expect all these guys that have Malaysians interest in their heart. In addition those 400 in Khazanah is more that 12 times the number of government servant assigned to Khaznah at their initial set up in early 90s. Yet those guys done more to Malaysia and Malaysian then despite the low pay compared to current employees. Time for change. PM being the chairman of Khaznah must set the priority right- investment in foreign countries do not create job for Malaysians!.
How and why it started below
To that bloody crony Rashdan, CCF means selling of non-core business to keep MAS going. By year end there is nothing left in MAS except the crony and AJ, the budak suruhan.
If selling non-core business is the way to save MAS then MAS doe snot need that bloody crony or AJ and more importantly the Mat Salleh CON-sultans like Martin Burrow and PlaneConsult, which only understand pariah low cost airlines.
Najib must put his foot down and sack the crony and his boss, Amok and AJ immediately otherwise MAS is finished.
Right! Rahsdan and AJ are just clueless in what they are doing. Just another two Panamera Deadwoods contributing to the wastage/leakages in MAS. Sack them and MAS will be on the road to recovery. Spending good money for two idiots to waste. Rashdan is good in taking instructions from TF. He will only after the interest of TF and not MAS.
YB CK Wee
Keep up the good work. We are depending on you to get answers in Parliament. Please stay the course. DO NOT allow BN or Opposition backbenchers to stifle your questions and questioning.
One issue to raise — what is this thing about core business. We all know the catering arm of any airline – brings in millions to the parent company. SO what is so non-core about airline catering business. No one will fly more than 1 hour flight without food and drinks on board. Catering is definitely core and yet it was sold off cheap-cheap Brahim. As you and many others have reported, said Brahim then flipped it off to some foreigners at huge profits. And to add insult to the people of Malaysia, MAS now has to pay ridiculously high prices from it former subsidiary company!!
We suspect the same is gong to be done this time, again. The AJ-Danny team had announced they are going to to sell MAS Engineering, and other subsidiaries, claiming that these are non-core to MAS. This is utter rubbish. Can you have an airline without the engineering service infrastructure to support it?
Please raise these issues in Parliament.
Check out the below URL
Questions to be asked.
Why declare purchase 2 months later.
Why declare just before release of 4th quarter results
Is it legal that someone in the know to be making large purchases
YB, please wait. Soon there will be an announcement of the short haul airline MAS Sdn Bhd. Later they will announce on the sale of MASkargo, then the sale of MAS Engineering, then the sale of MAS Ground Handling Unit, then the sale of Flight Simulator unit and the sale of MAS Training Academy.
A lot more bigger news in the pipeline. Even for the long haul service, soon they will break it into pieces under the special project with Qantas.
MAS is doomed. The intention has always been since the share swap to close down Malaysia Airlines. The bloody Irish bastard from Plane consult is now busy screwing everyone in the company.
“MAS is doomed”?
From Day 1 when it was the result of the MSA breakup?
Whose fault is that, given the faulty thinking that Malaysia could nurture and prosper a full-service premium airline without the requisite foundation of a steadily growing customer base that could afford to pay premium airfares, like Singapore?
What a good picture of the crony and his master! That crony knows nuts. To the crony, all the things in MAS are non-core except him, the Bina Tak Fikir idiot. His master Azman Mokhtar is no different. So MAS is screwed from now on.
The Bina Tak Fikir idiot will sell off MAS Kargo, MAS Engineering and the like to who else! MAS Kargo and MAS Engineering will be gone soon. Trust me. Then MAS will enter into an exclusive agreement with MAS Kargo and MAS Engineering paying high prices for all the services. It will be the same as MAS Catering. THis is the speciality of the Bian Tak Fikir. Now one in Khazanah and another one in MAS. God bless MAS and its workers like stewards and stewardess.
“Non-core” seems to be a term that is constantly being often missued in the corporate to disguise or upport a dodgy action.
But in this case, the categorization of cargo, maintenance, ground handling and catering as non-core to an airline can only come from an incompetent or desparate or bongkak. Selling them off is a short-term gain solution that will come back and bite the airline in the medium term. There have been too many cases of failure in this. This is another myopic WAU2 from Danny.
I would agree with hotel, insurance, IT services, telco as non-core to an airline business.
dulu proud to wear mas uniform but now kena cover dgn jacket… adakah our privilege dan benefit akan di tarik selepas MAS menjual MASkargo dan Engineering?
What does that Azman crony know about the word “non-core”? He is just egoistic but prepared to be a crony. Non-core a typical term used by Bina Tak Fikir Con-sultant. A mentality of a person who is rotten to the core!
Bro YB, please whack the crony and his master plus AJ when Parliament sit this March. Please don’t forget about the leakages in MAS like the perks, payments of Con-sultant fees and Panamera Deadwood. Najib needs to hear them first hand in the August House.
Don’t forget about the Irish in the Plane Consult!
No, no , no. The clueless duo, is NOT SELLING off “non-core” business units. The sophisticated terminology used is “identify strategic PARTNERS for DIVESTMENT”, typical Consultant lingo. Another one of the oldest tricks in the book, just like the way the financial results were massaged. Only glitch is that everyone saw through the tricks in a blink. Shame on them.
Back to this story of ‘divestment’ – this applies to MAS Engineering, MAS pilot training, MAS ground services and MAS Kargo. But that’s not the whole story of WAU2. There is a far far more valuable asset to ‘divest’, which can be done even before the above four alleged non-core business units are ‘divested’.
Remember the forced relocation of staff from Subang to KLIA which will cost around RM30million? Well, it’s a one-off cost that has the potential of yielding a ‘payback’ many times over. The land on which MAS offices are located in Subang belongs to the Federal Government with some parts belonging to the State government. The conservative value of the land where the MAS HQ alone is situated,(commonly called Complex A), is in excess of RM800mill! Bundle this up with the other assets such as the MAS property in London and Singapore, and Danny will easily have a bundle (literally) to raise RM1.5 billion from, easy peasy. Staff hardship s just collateral damage. Of course the “rationale” given for the forced relocation can be added to the bag of old tricks – every airline must be at an airport, staff must all sit together in one location so that they can “work and network differently” (?), easier to call for meetings if everyone is nearby etc etc.
Meanwhile, the D-Day for Danny’s toy is nearing, 1st May. Contrary to A’s proclamations that staff will be “redeployed” (the redeployment plan is one of the universe’s great mysteries to date) , full-scale external recruitment is underway for the Newco (ShortHaul), or MAS. So, how come before existing staff are ‘redeployed’, new recruits are being hired? There are more sinister undercurrents where plans for the staff are concerned. it will be very unwise for these two goons to think that the estimated 11, 000 staff who will be directly impacted by their ‘divestment’ plans will just comply meekly.
You are correct. The elusive “premium” traveller that MAS Shorthaul hopes to attract as a “full-service premium” carrier, is a non-existent species today. So this MAS Shorthaul wants to operate in the same sphere (regional, under 6 or 8 hours flying time) as AA? They will be dead in the water.
If AJ and that Bina Tak Fikir crony trying to show that MAS has failed very very badly, they must realize that the Master Azman Mokhtar is ultimately responsible for the failure because he was the one in control of MAS as a GLC. So Azman Mokhtar, the Bina Tak Fikir master please don’t pretend that you are not responsible. We in Khazanah knows what the hell you and your crony Rasdan are up to.
Rashdan jika kamu nak jual harta MAS, sila jaul habis. Tetapi jangan lupa jual isteri dan anak kamu juga! Barua!
One typical accounting trick used by new management (they never failed to apply this) is the ‘cookie jar accounting’. – Google it up.
Make full (read -excessive) provisions (accounting lingo for this now – allowance/impairment charge) and blame everything to previous management.
The new management then will be able to show ‘tremendous turnaround’ in the next reporting period/year.
Danny boy can’t wait to appear in the press and present himself as the savior of the national carrier.
Creative accounting and using big word like “non-core”, “making asset light airlines” “widespread asset un-bundling – (WAU) are what Danny little boy cum crony is good for. Typical brainless consultant trying yo bull shit his way. Then you have AJ, the budak suruhan just follow like a cow. All these personalities are contributing to the Panamera Deadwood, drawing big salaries and perks with no or little contributions.
Tak malu kah Danny boy cum crony???? For how long do you want to be Azman Crony. Where is your self respect?
They should have read this blog I guess, including the PM of Malaysia. Don’t just go here and there only to woo voters. Read up directly here would be good. Glad we have YB Wee Choo Keong here, providing us a platform for us to voice out our dissatisfaction. This blog is a hit! Average people should have known this side of story as well. They think MAS is too pathetic that they need Air Asia’s help whereas it should be the otherwise.
actually MAS and AK can work together to the good of Malaysia but not to the extend the need of suap share. because of this suap share, even TF just hold 20.5%, at the board meeting, dia buat MAS macam bapak dia punya….he dictate most of the decision made by the board. what i can see is that MAS is suap AK but what AK give in return? there are 4 AK staff or related to AK hold senior position in MAS and MAS need to carry 30,000 pssgr when AK stop fly to 4 to LON, PAR, BOM and DEL… do AK pay MAS for this services???
do AK send their aircraft to MAS for services?? NO, i don’t see any red colour aircraft in any of MAS hgr. even if they send, will they pay for the maintenance services????
suap share is seriously kenyangkan AK kuruskan MAS….
Saya bersetuju dengan pandangan sdr. Jika nak berkerja sama antara AA dengan MAS, tidak perlu ada share suap. We can see there so many bigger collaborative exercises in the whole involving 20 airlines in Oneworld and 32 airlines in Star Alliance and there was no share suap at all among the airlines and yet they are collaborating in the big way. Whereas in MAS – AirAsia share suap, MAS is scarf icing most of the time to accommodate. Was this what you call a share swap?
Two interesting questions you have put forward. One on who made the decision to gratin the 30% discount on the airport debts by AA and who decide that no actions to be taken for the canibalisation of aircraft for spare parts and un-airworthy aircraft, which has caused MAS not RM25 million but RM35 million. Further, after having failed in the RAS in Sabah and Sarawak, AA was allowed to keep the RM250 million subsidy even though the contract for the RAS was prematurely terminated. And, more importantly, how could Fly Asian Express Sdn Bhd (FAK), after having its name changed to AirAsia X Sdn Bhd, was allowed to keep the Airline Operation Certificate (AOC)?
Another question should be, did AA pay for the 30,000 AA passengers for European destinations to MAS and if so how much?
Trust me, the above questions will be up during the Royal Address debate in Parliament this March.
Thank you for your comments and contributions. I also like to say thank you the other for their comments and contributions too.
With kindest regards
Wee Choo keong
Flyguy, YB and Anak Malaysian
I do agree with all of your points. In fact, most of the comments here are good except those that were putting Singapore as the best in everything. If Singapore is so good then TF and AA should commence business there as it fitted in so well with its business model – no need aerobridges. But I am not too sure if AA can owe Airport Taxes up to RM120 millions for donkey years. The be given a discount of 30%.
Not bad lah. We should also learn to owe our income tax for years sand then get a discount of 10% I will be so happy. Can?
That bloody crony Rahsdan is screwing up MAS. AjJis a Mr Blur allowing himself to be led by the nose.
I alway maintain that MAS can only be saved when Azman Mokhtar and Rashdan are sacked. THese two Bina Tak Fikir consultants are just useless.
Razak of MAS
Interesting that you are conflating AirAsia with Singapore (or more precisely, Changi Airport).
I just checked on the Changi Airline Awards 2011 Recipients (you can Google for the link), and found that in the Top 10 Airlines by Passenger Carriage (based on passenger carriage in 2010), the 7th and 8th positions are occupied by AirAsia and Indonesia AirAsia respectively.
So, it looks like AirAsia and it’s Indonesian affiliate both have a good thing going in Changi Airport.
Cue in weeping and grinding of teeth from parties in Malaysia…..
But, it goes to show that AirAsia and Indonesia AirAsia accomplished this in the face of no-holds-barred competition from the other LCCS operating at Changi Airport, viz. Lionair, Tiger Airways, Jetstar and Cebu Pacific.
So, what exactly are you implying with regard to AirAsia and Singapore? Spill it out, dude. Surely, you aren’t afraid of rebuttals, are you?
And it doesn’t take a genius to figure out that the more Malaysians and Indonesians fly to Changi Airport, either to visit Singapore or to transit on to other airlines to other destinations, the more it contributes to Changi’s unrivalled regional air hub status.
That says volumes about Malaysia’s national aviation policy (or the lack thereof).
YB Wee, with all due respect, why are’n’t you asking these questions in Parliament instead of banging on about AirAsia and MAS?
Thank you for your comments.
To be 7th and 8th position when there are not more than 10 low cost airlines is nothing to shout about. If you think that this is something great to shout about then well and good. Perhaps, you should tell us whether AirAsia was allowed to owe airport taxes for a few months in Singapore and will AirAsia be given a discount for whatever charges due to Singapore Airport Authority or SIA for services of AirAsia planes so far. You should also tell us whether SIA or Tiger Airways or other airlines will surrender routes to AirAsia so as to give it a leg up so to speak. It only can happen in Malaysia during the Sleepy Age.
With regards to “why aren’t you asking these questions in Parliament instead of banging on about AirAsia and MAS?”, my answer is very simple as long as it is a genuine, fair and transparent deal it is fine by me. But if it was done in such a secretive manner and no due diligence done on the deal where tax payers fund and public interest are affected then I will carry on banging and banging until it is heard. Furthermore, AirAsia is a private listed company, it should remain private and don’t expect any handout whether in terms of subsidy like the RM250 million for the RAS only to be terminated prematurely or inactions from Khazanah over the RM35 million paid by MAS for the canablisazation of aircraft during RAS days. AirAsia should not be treated differently to other listed company. More so for AirAsia Sdn Bhd, formerly known as FAK during its RAS days, which is a private limited company. why should AirAsia be treated differently to other ten of thousand sdn bhd in Malaysia. If AirAsia has done so well in Singapore, I congratulate them for it. I will congratulate them further if it could owe airport taxes and service charges in Singapore for years like what had happened in Malaysia. If AirAsia can’t do it in Singapore then it shouldn’t have done it in Malaysia.
Please be reminded that Tan Sri Azman Mokhtar has admitted that the option to purchase the 10% share in AirAsia X Sdn Bhd was a dodgy deal. From this, you will no doubt agree with me that there was no due diligence has been done before the MAS – AirAsia share suap agreement was signed.
With kindest regards
wee choo keong
You have “dodged” all the points raised by Skilly, choosing instead to push your own pet hates and red herrings.
Why have you not focussed on the Tajudin Ramli imbroglio, for starters?
The alleged amounts thrown around there reduce anything allegedly incurred by AirAsia into insignificance.
Are there some issues that are “off limits” to you?
Thank you for your comment.
There is no need for me to dodge all points raised by Skilly. The points have been answered by me and the other readers. There are enough posting in my blog regarding the secret MAS-Asia share suap, CCF, spinning and etc. If you feel that I was wrong then state your facts to support the said share suap, ccf, spinning, owing of airport taxes and given discount when airport taxes was paid after your favorite airline Airasia owed for more than five years. Please tell me also whether your favorite country Singapore will ever allow such such things to happen in Singapore.
As for the case of Tan Sri Tajudi Ramli at least MAS has filed an action against him and it is still pending in court. Surely, there is no need for me to remind you that it will be sub judice to discount about a matter that is pending in court. If you want to have a debate pertaining to this matter then you should reveal your real identity and address the I will have a debate with you. Then both of us will be responsible for what we said.
In the case of FAKS aka Fly Asian Express Sdn Bhd. FAKS fought and was awarded by the Badawi’s Administration the RAS for Sabah and Sarawak. FAKS was given a subsidy of RM250 million to run the RAS for two years. Within a year, FAKS gave up RAS and dumped RAS back to MAS with 6 un-airworthy aircraft and one was cannibalize for spare parts. MAS took over and had to refurbish the aircraft to the state of airworthiness costing MAS RM35 million. Did Khazanah instructed MAS to file an action against FAKS. The answer is NO. The Badawi’s Administration did not demand for the return of half of the said subsidy i.e. RM125 million since the RAS contract was prematurely terminated within a year. Of course, to the supporter of FAKS, such sums are INSIGNIFICANCE.
Thereafter, FAKS changed its name to AirAsia X Sdn Bhd and it was allowed to keep the Air Operation Certificate until this day despite the irresponsible acts of cannibalization of aircraft for spare parts and causing 6 other aircraft to be un-airworthy. Thereafter, IArAsia X Sdn Bhd was rewarded with international routes to compete with MAS. To date it was rewarded with more than 38 international routes but operates only 13. Now that it has given up London, Paris and Munbai leaving only 10 routes. Are you trying to tell us that all these are insignificance and the Government should carry on to support a private limited company to compete with our national airlines, MAS. Further, we should support the said secret share suap and CCF. And to agree with Khazanah exercising the option to purchase 10% of AirAsia X Sdn Bhd when Tan Sri Azman Mokhtar has openly declared that the said 10% option to purchase was a DODGY DEAl!
The “off limit” does not apply to me but you. I hope that you will reveal your identity and address then I will enter into a debate with you on matter concerning Tan Sri Tajudin Ramli. IF you dare not do so for reasons best known to you, I will, of course, respect your decision and leave the matter as it were.
With kindest regards
wee choo keong
The Singapore Business Times recently carried a detailed report on the Tajudin Ramli issue.
It’s available to any paid subscriber to the paper’s website http://www.businesstimes.com.sg
The report had the name of the reporter who authored it.
Are you seriously suggesting that the paper is sub judice on this subject, seeing as how it has a significant circulation in Singapore’s business and financial communities?
MAS management was in crisis and desperate when that crony Rashdan, TF, Datuk Azman Yahya and Kington Tan were appointed to the Board of MAS. Their heart is not MAS.
Rahsdan and Azman Mokhtar were the expert of WAU and MAS was canibalised. MAS catering Sdn Bhd was put on the silver plater for the brother of Tun Dol or aka Sleepy Head. Thereafter, the food supplied to MAS are of high cost. Please check the price list charged for same beverage for economy, business class and first class. The charges are different but the drinks are the same. please also check on the prices charged for all foods supplied to MAS.
This was the BinaFikir’s idiot doing. Now that bloody crony was talking about disposing non-core assets of MAS. We knew what that crony Rashdan thinks. He is eyeing MAS Engineering, MAS cargo, MAS Academy and other profitable one.
MAS will be finished soon under crony Rashdan and AJ.
Tan Sri Azman Mokhtar and his crony do not care about whether the AirAsia X Sdn Bhd’s deal was dodgy or not because it is the rakyat money at stake and not theirs.
according to YB’s posting MAS had to pay RM35 million to put aircraft into airworthy after FAK, now AirAsia X Sdn Bhd, canabalised the aircraft during the RAS days in Sabah and Sarawak. Tan Sri Azman did not instruct MAS management to claim for the RM35 million from AirAsia X Sdn Bhd. For all you know Azman Mokhtar may have done the opposite.
Bloody Bina Tak Fikir at work.
Do you expect Rashdan the crony of Azman to turn around MAS? Definitely not especially when he was planning to sell non-core assets of MAS to save MAS like what both of them did under WAU where 70% of MAS Catering Sdn Bhd was sold to the brother of Badawi. Thereafter got MAS to enter into a 25 years catering agreement with Badawi’s brother company.
Instead of evaluating and finding ways and means to terminate the 25 years agreement, that bloody crony was talking about selling more assets of MAS.
DODGY DEAL pun tak apa, kawan punya pasal. This is clear evidence of no due diligence has been carried out by Khazanah when it signed the share swap.
i would like to now what is the arrangement for MAS to take over the 30,000 customers/passengers of airAsia for the London and other European routes. Can any body shed any light on this. Perhaps YB should look into this. Get the answer from the Minister of Finance.
What dodgy deal was Azman Mokhtar talking about? If it is dodgy then he should not have entered into an agreeement. yet he was talking about the option to purchase the 10% share of AirAsia X Sdn Bhd. Now that AirAsia X is not doing well it will be a burden to Khazanah.
The stupid Bina Tak Fikir idiot ! He is a joker.
YB taruk sama puak2 kroni and penyokong buta si pariah itu. Mereka ni trying to defend the indefensible. MAS – AirAsia share swap is like ikan bills eating up a shark! AirAsia is doing well my foot. If it is doing well, it will not be stopping its London and Paris routes. The government must stop assisting AirAsia X Sdn Bhd because it is a sdn bhd. Why must the government helping those foreign shareholders in AirAsia X Sdn Bhd. It must be treated like any sdn bhd in Malaysia. Only the Bodohwi will do such stupid things. But of course the Bodohwi knew what he was doing and so is Tan Sri Azman Mokhtar. It is believed that Azman went ahead with the AirAsia X deal even though he had said that it was a DODGY DEAL. Got to be an idiot or pretending to be an idiot to proceed with the dodgy deal. But he had to to long his Pariah kawan.
The PM should sack the bugger as he was useless and appointed by the Bodohwi.
Toni and the barbarians’ days are numbered.
Don’t get your knickers in a twist!
Read the AFP report “AirAsia’s decade of unbroken success and expansion ends” that was published in the Singapore Business Times, March 8, 2012.
Unfortunately, it’s not the stuff of wet dreams as far as you and those with similar mindsets are concerned!
Shukor Yusof, an aviation analyst with S&P in Singapore: Their (AirAsia) prospects remain very strong…It is still the leading low-cost carrier in this part of the world and will be for some time yet.”
Brendan Sobie of the Centre for Asia Pacific Aviation (CAPA): “What AirAsia X has found out is that once flights get up to nine, 10 hours or more, you struggle to make money with the low-cost model (due to fuel costs and the need for enhanced passenger services)…People in Europe know about AirAsia now. It was good for marketing. Now, when they come to Asia, they know they can fly around on AirAsia.”
Mr Shukor said that no-frills travel makes up about 15 per cent of passenger traffic in South-east Asia but will reach “up to 35 per cent” by 2020. Low-cost carriers seeking to emulate AirAsia’s success include SIA’s Scoot, the Philippines Cebu Pacific Air and Indonesia’s Lion Air.
On persistent complaints about sudden cancellations of underbooked flights, confusing booking procedures, and unexpected charges, Mr Sobie said that little lasting impact on AirAsia’s bottom line was expected as budget travellers remain a resilient crowd.
Indeed, on a recent weekday evening, AirAsia’s check-in counters at Changi’s Terminal 1 were crowded, while MAS’s check-in counters at Terminal 2 were relatively deserted
I would urge you not to shoot yourself in the foot.
Let’s address the topic of the Changi Airline Awards 2011 Recipients. If you had Googled for this, you would have seen of the top 10 airlines by passenger carriage, 4 (Tiger Airways, Jetstar Asia, AirAsia and Indonesia AirAsia) are LCCs, while the 5th, SilkAir is a “hybrid” between a LCC and a fuil-service airline.
In fact, LCCs account for about 25% of the passenger traffic at Changi Airport, and this percentage is growing.
So, there is nothing to sneer about in AirAsia’s and Indonesia AirAsia’s 7th and 8th placings respectively, given the fiercely competitive situation at Changi and the pole position occupied by SIA.
The question of whether SIA or Tiger Airways would surrender routes to AirAsia is nothing more than a red herring. You know as well as I do that the subject f air services between two countries is subject to a system of “bilaterals” between the governments of the 2 countries concerned, with the exception of provisions contained in “Open Skies Agreements”.
Thus, for example, Qantas, it’s Jetstar affiliate and British Airways have chosen to set up their regional hubs at Changi Airport, but the number of flights between Singapore and Australia and Singapore and the UK are determined by bilateral negotiations between the respective governments.
If AirAsia were to set up a hub at Changi, or form a Singapore AirAsia affiliate with a Singapore AOC, then it could ask for routes out of Changi based on this system of bilaterals.
You have raised the question of AirAsia and airport charges.
I would venture to say that AirAsia has no problems with the Changi Airport authorities in this regard because the airport charges are clearly documented, transparent and imposed across the board without exception (with the corollary that airport charges are different for Changi’s main terminals and the Budget Terminal).
Clean, clear, precise, transparent and above board – all airlines operating at Changi are on a level playing field as far as airport charges are concerned.
In the convoluted case of Malaysia Airports (MAHB) and AirAsia with regard to airport charges, I would say that MAHB is in the driving seat. As the sole provider of airport services, it could have chosen to “turn off the tap” to AirAsia at any time. It did not do so. Why?
MAHB could also have dragged AirAsia into court to recover the outstanding amounts. It did not. Why?
Is it logical to conclude that MAHB, as a GLC and a public-listed company, was negligent and derelict in fulfilling it’s responsibilities?
On the subject of the non-payment of airport taxes by AA to MAHB and the alleged “inaction” by MAHB, surely YOU of all people cannot be so NAIVE as to think that dealings with AA is just “business as usual” and above board?
I urge someone in MAHB who is privy to the kind of “instructions” they get, and from whom, to treat AA with kid gloves, to speak up.It’s open knowledge, man.
And to see TF and his full-blown sandiwara “protesting” the increase in airport
taxes, do you know how puke-inducing that is to many of us? Puh-leeze.
Man up, dude – are you referring to the “political connections” involved?
Then, spell it out, instead of resorting to innuendoes!
That is, if you have the guts to do so.
There’s a rumours saying that MAS is paying 7x more than what AA paying for the same piece of Airbus engine. Is this true??
To Azman, Rashdan, AJ and other Pariah’s crony, go and f… yourself elsewhere. MAS is not a prostitute that anyone can just come, whack and go…
Dear YB the decision to terminate some of the sector from mas flight inventory was totally wrong , just like the KUALA LUMPUR CAIRO sector
where estimated 40 thousand malaysian student were studying there n MAS flight was their only direct flight , MAS can always play wiz fare to woo them to fly on MAS , the problem wiz MAS is there is ENFORCE , the CEO that dare to punish fellow top management for the blunder made in carrying out their duty
that why they never learn from mistake because no body dare to say anything to them or take action again them as they said ( you scratch my back i scratch your back )