Yours truly has been pressing YB Senator Datuk Donald Lim, the Deputy Minister of Finance to fulfill his promise to Parliament that he will provide the information as to how much MAS paid BinaFikir Sdn Bhd for the WAU Project in 2002.
From the above reply given by the said Deputy Minister, it was crystal clear that those little Napoleon in Khazanah Nasional Bhd and MAS are very powerful and they could deprive Parliament of information by hiding behind the Confidential Clause in the consultancy agreement, in HERE.
It was most ridiculous that the said little Napoleons in Khazanah and MAS were ale to dictate what information can or cannot be tabled in Parliament. In this case, they have decided that the consultancy fees of BinaFikir Sdn Bhd and the name list of the twelve companies involved in the fuel hedging that caused RM3.3 billion losses to MAS, in HERE, should be kept in secret.
Yours truly believes that the said BinfFikir‘s consultancy fees must be very BIG and the list of the twelve companies may implicate certain influential personalities. Hence, the cover-up under the guise of “Confidential Clause or Non Disclosure” Clause in the said agreements.
If it interests you to know, in January 2002, Tan Sri Md Nor Yusof was the MD of MAS and he appointed BinaFikir Sdn Bhd as MAS consultant – WAU restructuring (Corporate Finance Advisory, 2002), in HERE.
It was during WAU that 70% of MAS Catering Sdn Bhd was sold to Gubahan Saujana Sdn Bhd which was under the controlled of Datuk Hj Ibrahim bin Ahmad Badawi, the brother of former PM, in HERE.
A few months later, the name of MAS Catering Sdn Bhd was changed to LSG Sky Chef Brahim’s Sdn Bhd.
At that material time, Tan Sri Azman Mokhtar (Amok) and his most trusted crony, En Mohammed Rashdan Yusof aka Danny (Rashdan), who was embroiled in the scandal of upgrading his baby and maid to the First Class Cabin on 1-1-2012, were the founders of BinaFikir Sdn Bhd. In a short span of a few years during the reign of the former PM, YB Tun Abdullah Ahmad Badawi, BinaFikir Sdn Bhd Bhd has grown into a big and sought after consultant firm. Several big GLCs have appointed it as their consultant.
BinaFikir Sdn Bhd was incorporated in early January 2012 and below was their “great achievements”:
The BinaFikir‘s List of “Great Achievements” includes the 2005 Tenaga, Malakoff & Other- Power project bid, 2007 Strategic adviser to Government of Malaysia and Multimedia Development Corporation (MDeC) in relation to the Innovation Roadmap for the National Innovation System (Strategic Consulting), 2009 restructure of MAHB and others in HERE.
From 2002 until May 2004, Amok was the MD of BinaFikir Sdn Bhd. On 1 June 2004, Amok was appointed MD of Khazanah Nasional Bhd (Khazanah) by the then PM, YB Tun Abdullah Ahmad Badawi, in HERE.
When Amok was appointed as MD of Khazanah, his most trusted crony Rashdan was the head of BinaFikir Sdn Bhd until August 2008. On 27-8-2008 it was sold for RM8 million, in HERE.
On 17-5-2010 Amok’s most trusted crony Rashdan was parachuted into Khazanah and was appointed as the Executive Director of Investment, in HERE.
It would appear that later in the year Amok’s most trusted crony Rashdan was given the task of brokering the MAS-AirAsia share swap, which was unwound on 2-5-2012 by the PM, YAB Datuk Seri Najib.
We will see for how long the little Napoleons in Khazanah and MAS could keep the consultancy fees paid to BinaFikir and the list of 12 companies involved in the fuel hedging losses of RM3.3 billion for MAS under wrap.
Since all the players during the WAU Project namely, Tan Sri Md Nor and Amok’s most trusted crony Rashdan, are now back in actions again in MAS, they should be brave enough to make public the BinaFikir’s consultancy fees for WAU and the list of the 12 companies involved in the fuel hedging. In any event, Amok is now the MD of Khazanah and he had full knowledge of all the facts pertaining to the above matters. Silence is no longer the option.
Yours truly has tabled several questions on the above matters for answer in the coming Parliamentary Session, which will commence on 12-6-2012. The Questions will be published in this Blog soon.
May the force be with you..YB, glad to note that there are still true fighters around.
there goes my vote for BN……dalam longkang..
Dear YB,
The way you lay it out, and if true, makes us wonder how the Government of the day could possibly allow these corrupt and unscrupulous Little Napoleons get away with such dubious acts. At the going rate, they can all get away even with murder! And I thought that last night’s RTM2 “Nujum Pak Belalang” was funny!!!
And what will happen to the sanctity of Parliament if crooks are allowed full liberty to operate with utmost impunity with just a stroke of the pen via a mere and liberal inclusion of some sort of Confidentiality and/or Non-Disclosure Clauses in the respective agreements?
Our last hopes, we pinned on you Sir – To drum some sense to the Malaysian Parliamentarians on either sides of the divide.
Let not allow all these BULLS transform our Lawmakers into zoo-full of slumbering jacks. One with his cronies and extended family is ENOUGH.
I have heard that the BinaFikir fees based on percentage of MAS assets, At that time, MAS has many airplanes, 52 buildings in Sepang the MAS Komplek, MAS Catering, landed properties in Jalan Sultan Ismail, Singapore, London, and many other places overseas.
It would be in the region of hundred of million RM. That was during the tie when the government was under the Slumber Jack and Nor Yakob was the powerful Minister of Finance II and the 4th Floor was the most powerful.
YB please pursue until you get the answer. Half of BinaFikir is still hanging on in MAS and the other half is controlling Khazanah. Therefore, Nnny Danny is a protected creature after all.
We in MAS wil not co=operate with the management until AJ, Nanny Danny and the other cronies of the Pariah are out of MAS.
The fee was RM1m plus, chicken feed compared to McKinsey, and BCG. Done I’ve spilled the bean
As always, kudos Yb for bringing up issues related to MAS-AA. I see this as the only cause of my support to you after you jumped ship, which was your choice. Wmaju folks will be careful next time 🙂
YB press on for answers. Who do the little Napoleons think they are. We are paying their salaries and they acting like our bosses. Bloody hell. What so secretive about the consultancy fees and the name of the 12 companies for fuel hedging.
We will be with you to fight these Little Napoleons in Khazanah and MAS. For a start that bloody Nanny Danny must go. Just don’t understand why those idiots are condoning the Nanny Danny. it must be also the work of the Little Napoleon in Khazanah. Must get rid of Azman Mokhtar too.
The same players in WAU are back in control in MAS and Khazanah. With Nanny Danny, AJ, Rozman, Azhari and Nor Zalida still in MAS, MAS is doomed.
Yes YB. you may be right. The little Napoleons in Khazanah and MAS cannot reveal the total sum paid to BinaFikir because it was far too big to justify their bullshit assets stripping job. I also heard that it was based on percentage of about 2%. Just imagine the assets of MAS in 2002 must me by many billion RM.
We in MAS also want to know the cost of BianFikir screwing MAS.
Tan Sri Md Nor and nanny Danny why both of you are so very quiet about the nonsense that you have done. Have the balls to own up and tell how much did BinaFikir charge MAS for the job of asset stripping under the name of “WAU”.
Why the F..k is Nanny Danny still hanging around n MAS. Still tak malu to take Gaji Buta. AJ tak malu kah. FO please. You have overstayed in MAS. Nanny Danny and you just get lost from MAS. Go to AA that is where you belong. I am sure that the Pariah will not take you because you are of no use the moment you are out of MAS.
Have a little bit of MARUAH AJ and Nanny Danny. Both of you are mother f..ker!
Dear YB: your article and the comments are difficult to read due to light background. Hope you can change it back to the original colour. (2) it is not difficult for you to get the fees paid to BinaFikir. Please get a copy of BinaFikir annual report for 2002 and 2003 ( or for this purpose every year) from the Registrar of companies. All companies in Malaysia must submit their annual report to ROC. Wajib!. It use to cost about RM10 per report per year. You need to supplier them with BinaFikir ‘s registration number. Since all their business is with GLC , you can aggregate the yearly income and this will give you the amount paid by GLC and Khazanah link companies to BinaFikir. You will be surprise with the info. Once you get those, give me a hint and I will help you to analyze the info.
ASmallBirdFlyingAround
Thank you for your comments. I will try my best to have the background of my blog in the right colour for everybody.
I will try to check from the SSM but I don’t think we can get the figure as it will only show the total income of the company. However, I will try to check. I will also pursue it through Parliament. I am sure that we will get to the bottom of it.
Parliament will be sitting on 12 June. I have already tabled several question for answers through Parliament. I am confident that we will get the answers soon.
Thank you
With kindest regards
wee choo keong
Bravo YB, a true “wakil untuk rakyat”
YB, though I can’t cast any vote, I could influence my colleagues to vote for those who are transparent and truthful. FULL STOP. NO HANKY PANKY. I want malaysia to have ZERO corruption PLEASE!!! I know I am asking for the impossible but I believe we should at least try.
Fuel hedging boo2x was solely the work of Idris Jala and
poor Tg Azmil had to bear the brunt of this poor judgement.
Idris Jala hedged fuel prices at US$100 and the market collapsed
sending oil prices spiralling to US$80. Now you know why Idris Jala
jumped ship the moment he was offered a post in the govt.
IJ should be answerable for making that bad call.
Y.B Malaysia will be a better place if more MP are like you.
When Amok became the MD of Khazanah BinaFikir seemed to get a lot of work from GLCs. Very coincidental. YB should ask how much Tenaga paid Bina tak Fikir Nanny Danny for the rubbish in 2005. I thought that Yenaga had their own experts and yet they need to hire Bina Tak Fikir.
We should not forget that mamat Tan Sri Nor Yakop. He is the one that is instrumental in getting Amok into Khazanah and a lot of other things.
:
.
.
.
;
;
Y/b
,
I probabbly can contribute some input
thru my experience in futures trading
to help u understand ‘hedging’ so that
u could rasie interesting questions in
parliament.
Say the fuel prices are fluctuating because
of some changes in the political situation
in the oil producing countries or threat of a war appears,
Other than these situations actually arising, oil
prices are boringly predictable. Look at the
charts in
,
http://www.bloomberg.com/quote/JET1NECC:IND
,
The prices of jetfuel go up and down from
a period of half a month to a period of 3 months
From this graph [only as illustration- I have
no motivation to study the actual graphs] made
a simple inference- prices can continue to come
down in 1/2 month , 2 months or even possibly 3 months,
,
,
Because oil is traded every working [us] day, trade
will be done on a working day basis. You could ask
how MAS how they buy their jet fuel- do they buy directly
from brokers or get some agents to deal with the
brokers?
,
,
How many days stocks do MAS buy?
,
,
Supoose MAS requires 500 million litres of fuel, what
is their stock level -1 month, 2 months or 3 months.
Surely it would be fishy if their stock level is 12 months.
,
,
If price cycles are are within 1/2 month to 3 months , why would u want
to buy fuel for 12 months.
,
,
Simple Purchase policy
————————
,,
If Co buys oil according to standard industry practice
it is unlikely that Mas would have outstanding losses.
,
,
In practice if Mas buys a 3 month future based on the middle
line the Co would have savings and losses in alternate cycles
and there would be minimal losses or even some gain by the end of
the accounting period.
,
,
It is strange that Mas can loose big because trading is done
[in theory] daily. Supoose Co buys a future at t=0 futures for
t+90 fuel at 100 , and at t+30 thinks price is going to drop, then
Co can cut loss and make a sale for the t+90 at a rate that can
unload the contract at that time. In practice the gains and
the losses would even out unless agents speculate on the price.
,
,
This would be gambling.
,
,
Example
——-
If at t=0 MAS bought a future oil delivery t+90 , 500 million
litres instead of a 3 month supply [approx 125 million liters]
then it is an unnecessary and unwise gambling. If this happen
I would reccomend that you pursue a serious financial misdemeanour
charge on the agent/(s).
As a parting shot, more news from the grapevine so that
we can analyse. Try provide these data that I have raised
,
,
,
Hanana bt Abdullah
Sdri, thank you very much for your advice. It is very helpful to me. I will definitely raise in parliament about the bina tak fikir lots.
Thank you
with kindest regards
wee choo keong
dunno what nda they signed YB but the standard ones usually say information can be disclosed as required by the authorities… so if the Parliament is not the authority i dont know what is to them
YB,u r a true blue wakil rakyat,every wakil rakyat should look up to you and if they can’t follow ur style pls ask the PM not to nominate u for the next GE13,YB Wee Choo Keong,u hv my vote any day.Keep on fighting the bloody nation robbers until they go back to the TF Pariah where they belong and bring ur chief TS Nooor who is a bloody Tamil.and also.a.pariah from the era of sleepy head with u.U muka x malu robbers,berambuslah dari MAS kesayangan negara.U shud spend the rest of ur life in jail for commiting an act of treason against Malaysia.SPRM should imvestigate them and their families where they stashed their ill gotten gain.Buru mereka sehingga ke lubang cacing sekali pun.
Tan Sri Noor yakop (the then very powerful Minister of Finance II), Tan Sri Azman Mokthar and Nanny Danny should know whether the Bina tak Fikir’s consultancy fees for WAU was RM100 mil, RM200 mil or RM300 mil. Stop pretending.
YB must pursue this in Parliament sampai lubang cacing against these idiots.
The Staronline just reported the company has appointed Tony F as it new independent and non executive Director of the holding company. With Air Asia advertisement money and a position on the board, Tony F can now control and influence the editorial policy of The Star. Now all of Tony F business will have extra positive write up in The Star. MAS off course will smell like a shit in The Star from now on. Let boycott The Star.
haah…loan 9 billion dah masuk..pe lagi AJ and the geng..
kasi perabih la..mcm tak biasa..Miss Manage..
MAS: Turning around or spinning?
http://mastroubleshooters.blogspot.com/2012/05/mas-turning-around-or-spinning.html
what happens to Malaysia can only be called government linked robbery of assets by former and present government and its associates.
above article “Pak Belalang” sums it up in a nutshell.
the dark side of the coin however may show that Authorities and Institutions like Bursa Malaysia, MACC and many more are not doing anything about this obvious corruption and have to be considered a part of the syndicate. this however will not attract any investment, but rather will ensure foreign companies will bypass Malaysia as it must be considered a “dark hole” if it comes to legal practice and Corporate Governance. there must however be a few members in parliament who are to stand up against this to save the country. all readers of this blog can only oppose all this by not voting for all these corrupt bunch of greedy politicians and their dealers in crime.
nobody with just a rest of common sense would invest even a penny in a country with almost no justice-system and government authorised/protected daylight robbery. those waiting for the government to help MAS may be disappointed in the end….
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