Tan Sri, who is your "winner" in the secret share swap?
Updates: 12-03-2012 @ 9:15 pm: TV3 prime time news at 8:00 pm also gave a lengthy report with regards to the news of “reversing or cancellation” of the secret MAS-AirAsia share swap and CCF. Of course, Khazanah headed by Tan Sri Azman Mokhtar, the ex founder of BianFikir Sdn Bhd refused to comments on the news. Tan Sri Tony Fernandes of AirAsia Bhd, AirAsia X Sdn Bhd and Tune Air Sdn Bhd has tweeted to say that he was not aware of the said news.
Yours truly has read an interesting article in Utusan today at page 18 with the headline “Perjanjian MAS, AirAsia batal?”. It said “sebelum ini, pertukaran saham antara syarikat penerbangan itu menimbulkan banyak polemik sehingga Suruhanjaya Sekuriti (SC) dan Bursa Malaysia terpaksa menjalankan siasatan.” The most interesting of all is “… bahawa kerjasama hanya memberi keuntungan besar kepada AirAsia.” (“… that the said co-operation only benefited AirAsia.”). Please read in HERE, HERE, HERE, HERE & HERE.
For a start, the original main objective of Firefly was changed by a stroke of a pen by Tan Sri Azman Mokhtar’s crony and ex business partner in BinaFikir Sdn Bhd, En Mohammed Rashdan Yusof aka Danny.
Firefly was set up by YB Senator idris Jala to complement MAS in competing with low cost carriers like AirAsia Bhd and AriAsia X Sdn Bhd. Hence, the first few things Tan Sri Azman Mokhtar’s crony, Rahsdan, did were the cancellation of Firefly full load flights during the recent Raya season, termination of its profitable routes from JB to KK and Kuching on 25-8-2011 (2 weeks after the secret MAS-AirAsai share swap was inked by Tan Sri Azman Mokhtar). Then came the termination of MAS profitable route to Bandung leaving only AirAsia to operate from KL, termination of MAS routes to KK and Kuching, grounded the Firefly jets and so on. Please read HERE.
Less than 7 days after the said secret share swap was inked, Tan Sri Azman Mokhtar’s crony, Rahsdan, rushed to London to sponsor QPR home jersey for RM18 million for 2 years. This was done at the time when according Rashdan and his master, Tan Sri Azman Mokhtar, MAS was bleeding and needed help badly! During the press conference, Tan Sri Azman Mokhtar’s crony, Rashdan, was flanked by AirAsia’s stewardess in red uniform. None of MAS stewardess was seen at all. This was how Tan Sri Azman Mokhtar’s crony, Rashdan, was promoting MAS! May be he thought that it was the main spirit of the secret share swap and CCF that he had to promote only AirAsia and/or what are connected to Tan Sri Tony Fernandes. Incidentally, after signing the QPR sponsorship, Khaznah under Tan Sri Azman Mokhtar hailed the sponsorship as a brilliant move by TAn Sri Azman Mokhtar’s crony, Rashdan. Please read HERE, HERE & HERE.
For your information, Genting sponsored Aston Villa, which is a better team, for home and away jersey for only RM17 million for the same 2 years period. Of course, Tan Sri Tony Fernades is the co-owner of QPR. So now we should understand why Tan Sri Azman Mokhtar’s crony, Rashdan, has been doing so far.
Despite Firefly has been doing well and its staff have been paid up to 8 months bonus during YM Tengku Azmil’s time, the newly crowned Group CEO, En Ahmad Jauhari Yahya (AJ) has the cheek to inform the Parliamentary Public Account Committee (PAC) in November 2011 that Firefly was making losses to the tune of RM89 million. Was this the new creative accounting technique hatched out by MAS advisors that AJ has acquired after joining MAS?
On 29-2-2012, the TRIO is also trying to mislead members of the public and the Government by inflating the losses by MAS to RM2.5 billion to justify what they have been doing and their agenda to sell “NON-CORE ASSETS” of MAS like WAU-1, the pet project of Tan Sri Azman Mokhtar and Rashdan where they were both in BinaFikir Sdn Bhd. In WAU1, MAS sold 70% of MAS Catering Sdn Bhd to Tun Abdullah Hj Ahmad Badawi’s bother company, Gubahan Saujana Sdn Bhd. Soon after that MAS, of course, signed a 25 years one sided catering and other services contract with MAS Catering. MAS Catering Sdn Bhd was a non-core asset to MAS then! Penultimately, the TRIO hope to show profits at the end of 2012. Please read in HERE, HERE & HERE.
The Sabah Government was very upset by the move by Rashdan to terminate the services by MAS and Firefly to Sabah. Please read HERE. This has prompted YAB Datuk Seri Najib Tun Razak, the Prime Minister, to step in to instruct MAS to resume the KK and Kuching routes.
Yours truly would like to ask the Tan Sri Azman Mokhtar and his crony, why was there a necessity for MAS to employ ex AirAsia high ranking officers like En Azhari Dhalan to head MAS Engineering and En Rozman Omar the CFO of MAS. Hopefully MasKargo will be spared. Please read HERE.
Why MAS Engineering? Why Chief Finance Officer? We all know what are the game plans of the cronies. Yours truly will leave this subject matter and more about WAU1 for the next posting.
Please read an interesting article by A Voice, “Collaboration Collapse?” in HERE.