As suggested by one of the readers and contributors, Time Traveler, the above is the page 12 of the slide show that was presented during the Special Briefing by the famous TRIO, En Ahmad Jauhari Yahya (AJ), MAS Group CEO, En Mohammed Rashdan Yusof aka Danny (Rashdan) (Group Deputy CEO and Tan Sri Azman Mokhtar’s ex-business partner in BinaFikir Sdn Bhd and crony, and En Rozman Omar (Rozman), Group CFO), the newly crowned CFO of MAS and ex-AirAsia high ranking officer. The said page 12 of the slide show clearly indicated that whatever PLANS of the TRIO, in particular Rashdan, to so-called strengthen the Balance Sheet of MAS have been endorsed by Khazanah and Tune Air.
So far the TRIO’s known Plan was to cancel flights, terminate profitable routes, sponsor QPR, employ ex-AirAsia top managers to MAS, change MAS corporate colour, staff uniforms, letterhead, name cards, signage and move office from Subang to KLIA. Such exercises cost money to MAS and will not in any way improve the performance and, more importantly, the revenue of MAS. It will , no doubt, put MAS into deeper financial problems. After 8 months of AJ and Rashdan taken over MAS, MAS was in worse financial situation than when it was under YM Tengku Azmil! The recent Briefing on the 4th Quarter Result has proven their miserable failure!
Tan Sri Azman Mokhtar’s crony, Rashdan, is more interested in selling “NON-CORE ASSETS” of MAS to show profit. Typical consultant with shallow knowledge of running a company. No wonder Rashdan didn’t last long in Maybank after BinaFikir Sdn Bhd was sold to Maybank for RM8 million in 2008. Rashdan have not learn from the failed WAU, that’s why he is still talking about selling of “non-core assets” of MAS to show profits. If showing profits by selling assets of MAS, MAS does not need to spend million of RM in salaries and perks to employ the TRIO. A standard six student can just do the job without having to waste good money for such an exercise known as “STRIPPING OF ASSETS” in the business world. Read HERE.
To be frank, MAS has no “non-core asset” worth selling except the TRIO if each of them is still marketable after what they have done to date. The assets that are worth selling are MAS Engineering, MasKargo, MAS Academy and the lease of the land in Subang which MAS office is situated. To yours truly, these are core assets to MAS for without which how could MAS operates like any IATA airlines unless it is looking forward to be relegated to a low cost airline like QPR football club! It is hoped that Tan Sri Azman Mokhtar’s crony, Rashdan, was not referring to these three arms of MAS as non-core assets that he intends to dispose.
If these three arms of MAS are to be disposed to show profit for 2012 to justify the TRIO existence in MAS, yours truly is sure that there is one “vulture’ in the waiting to purchase it. When this happened, it can be called WAU 2, another pet project under Rahsdan, the ex-BinaFikir consultant boy, and MAS will no longer be called a premier airlines but just another low cost if it is still in existence then.
WAU was the first pet project of BinaFikir Sdn Bhd, which it was first incorporated in 2002 by non other than Tan Sri Azman Mokhtar and his crony Rashdan. It was under famous WAU that 70% share of MAS Catering Sdn Bhd, an essential arm of MAS, was sold to former PM Tun Abdullah Badawi’s brother (Datuk Hj Ibrahim Hj Ahmad Badawi) company, Gubahan Saujana Sdn Bhd. To Tan Sri Azman Mokhtar and his crony Rashdan, MAS Catering Bhd was definitely a non-core asset of MAS! Yet after MAS Catering Sdn Bhd was disposed, MAS had to blindly sign a one sided catering agreement with it for 25 years.
Only incompetent and clueless managers with consultant mentality and/or relying blindly on consultant recommendations or advice would have signed such a long term agreement with very little or no room for negotiating on the services and food supplied. If one care to check, no other IATA airlines in the world has entered into such a long period of 25 years one sided agreement except MAS. Tan Sri Azman Mokhtar and his crony, Rashdan, care to explain this?
Your truly has been informed that the same beverages supplied for economy class, business class and first class are charged at different prices to MAS for all these years and more years to come. Surely, we can’t expect Tan Sri Azman Mokhtar or his crony Rashdan or AJ and Rozman, whose appointment got the blessing of Tan Sri Azman Mokhtar, to lift their fingers to touch that 25 years agreement let alone to find ways and means to terminate this unfair one sided agreement that have contributed so much to the LEAKAGES in MAS. One of the main problems that MAS faces is LEAKAGES.
MAS has consistently chalked up constant revenue averaging RM1.3 billion yearly. If and only if, MAS top management were to plug 10% of the LEAKAGES, MAS would have immediately make RM130 million without having to cut its routes, changing its corporate colour, letterhead, signage or livery of ts plane and most of all, to enter into the secret MAS-AirAsia share swap and CCF, appointing ex-AirAsia top executive to MAS. Yours truly has brought this up in the last session of Parliament. Read HERE. But of course, plugging LEAKAGES is a tedious exercise for incompetent managers and crony because it will entail stepping on foot of important personalities that put them in their position of power. It will also be too much to expect from the incompetent TRIO!
Please look at what the TRIO has recently done in their cosmetic exercise. Changing of the corporate colour and the livery on the aircraft. No company will ever thought of changing its corporate colour or logo unless it is necessary as it has offended members of the public or very good reason dictates so doing. Only incompetent or clueless manager will do such a thing! Just look at the new livery of the MAS A 380, which will be launched on 1-7-2012. MAS corporate colour has been changed drastically. MAS has taken out a full page advertisement of this new corporate colour on its A 380 in Star Biz Week page 5. It looks so horrible and no live in the livery. Such senseless advertisement cost money to MAS and such cost is a direct contribution to the LEAKAGES.
Just imagine how much cost MAS had to incur in respraying its existing fleet of aircraft! Only incompetent managers will act so senselessly without considering the unnecessary cost incurred during a time when MAS is bleeding (to borrow AJ’s famous empty quote). If the TRIO has their way, they would have change the colour and design of our national flag on the aircraft in their desperate hope of improving the performance of MAS.
What have been done and to be done by the TRIO have been endorsed by Khazanah under Tan Sri Azman Mokhtar of BinaFikir fame and of course, Tune Air Sdn Bhd, the recent share holder of MAS under the secret MAS-AirAsia share swap and CCF, another pet project of Tan Sri Azman Mokhtar and his boy, Rashdan.
It is now the right time for YAB Datuk Seri Najib Tun Razak, Prime Minister, to step into the picture to take positive action to stop the rot in MAS and remove the new cancerous elements in MAS and Khazanah immediately failing which the future is not hard to determine.
From this Monday, 12-3-2012, onwards, yours truly is sure that MAS-AirAsia share swap, CCF, the actions of the TRIO will be a much talk about issue in Parliament unless YAB PM steps in to revisit the said secret share swap, CCF and the appointment of the TRIO with drastic actions.
OutSyedTheBox has posted an interesting article. He was asking for the the much talk secret MAS-AirAsia share suap to be unwound and at the same advising the Khazanah “Dungggus” of how to do business in HERE.