On 29 February 2012 En Ahmad Jauhari Yahya,(AJ) , En Mohammed Rashdan Yusof aka Danny (Rashdan), Tan Sri Azman Mokhtar’s ex-businesss partner in BinaFikir Sdn Bhd and crony, and En Rozman Omar (Rozman), the newly crowned CFO of MAS and ex high ranking officer of AirAsia, briefed the media of the performance of MAS for the 4th Quarter and FY 2011. They have produced figures based on the UNAUDITED ACCOUNTS of MAS to the media that showed MAS has suffered huge losses to the tune of RM2.524 billion. The said losses must have shaken the Government and nation. Why was there a desperate need to make such a sudden briefing/announcement at this particular time? It was done some 12 days before the commencement of Parliament on 12-3-2012. What a coincidence!
Of course, they didn’t strongly emphasise that the figures quoted derived from the unaudited accounts and the above Disclaimer. Yours truly has the privilege of receiving the presentation slide entitled: “Malaysia Airlines, 4th Quarter & FY2011 Financial Results, MH Pulse Financial Briefing” by AJ (Group CEO), Rashdan (Deputy Group CEO) and Rozman (Group CFO), the famous TRIO.
The TRIO took great PRIDE in telling the world that how “sick” was MAS. Perhaps the TRIO was hoping that they could garner the support of the nation for them and, most of all, TO JUSTIFY what they have senseless done until now and charted to do in the future! Read HERE. Perhaps to also justify the secret MAS – AirAsia share swap, CCF and the exercise of 10% option to purchase AirAsia X Sdn Bhd by Khaznah Nasional Bhd, which is headed by Tan Sri Asman Mokhtar, the ex-business partner of Rashdan in BinaFikir Sdn Bhd. Hence, the TRIO thought it fit to mislead the Government and nation with the items and figures quoted as part of the losses. The said “briefing” was seen as a “propaganda exercise” in futility and a waste of public fund! Below are the said items that formed part of the huge losses:
Fuel cost increased by 25% (RM305m)
Non-fuel cost increased 50% mainly due to additional provisions:
– Redelivery of aircraft RM602m
– Impairment of freighters RM314m
– Stock obsolescence RM179m
Unrealised forex translation gains RM22m, Derivative gains RM28m