20-6-2012 Questions Time: The little Napoloens in Khazanah were at it again

See updates on MAS AGM of today in the previous posting.

Jawapan Lisan 20-6-2012

Y.B. TUAN WEE CHOO KEONG [WANGSA MAJU] minta MENTERI KEWANGAN menyatakan:-

(a) jumlah pekerja Khazanah sebelum dan selepas Jun 2004 dan jumlah perhitungan terperinci kos gaji, bonus yang dibayar kepada semua pekerja bagi setiap tahun dari 2002 sehingga 2011, kesemua gaji tahunan keseluruhan termasuk ganjaran untuk setiap tahun dari 2003 hingga Jun 2004 dan untuk Pengarah Urusan Khazanah dan Pengarah Eksekutif, iaitu Dato’ Mohammad Zainal Shaari, En Ganen Sarvanathan, En Ben Chan, Michael Jude Fernandes, En Joseph Dominic Silva, Dato’ Nungsari Ahamad Radhi, Dato’ Noorazam Abd Aziz, En Keneth Shen, En Mohd Izani Ghani dan En Ahmad Farouk Mohammed daripada Jun 2004 hingga 2012; dan

 

(b)  perhitungan terperinci kos fi Konsultan yang dibayar oleh Khazanah bagi tahun 2001, 2002, 2003 dari 1 Januari 2004 hingga 31 Mei 2004, dari 1 Jun 2004 hingga 31 Disember 2004, 2005, 2006, 2007, 2008, 2009, 2010 dan 2011.

 

JAWAPAN

 

Tuan Yang di-Pertua,

 

Untuk makluman Yang Berhormat, seiring dengan mandat baru yang diterima oleh Khazanah Nasional Bhd (Khazanah) pada tahun 2004 untuk meneroka peluang pelaburan dalam sektor baru yang strategic, keperluan modal insan Khazanah juga telah dipertingkatkan bagi menyokong matlamat serta keperluan organisasi. Lanjutan daripada itu, jumlah kakitangan Khazanah telah meningkat daripada 33 orang pada 14 Mei 2004 kepada 412 orang pada 1 Jun 2012.

 

2.         Khazanah menetapkan ganjaran kakitangannya berpandukan kepada garis panduan yang terkandung dalam Buku Biru (berkaitan Peningkatan Pengurusan Prestasi) terbitan Jawatankuasa Putrajaya Bagi Prestasi Tinggi GLC (PCG), bagi menarik serta mengekalkan bakat dari luar. Garis panduan tersebut antara lainnya menetapkan gaji asas kakitangan yang kompetitif berbanding pasaran (tidak melebihi 50 persentil gaji asas purata syarikat-syarikat swasta setaraf), memastikan kenaikan gaji asas mencerminkan prestasi individu dan syarikat. Di samping itu, keseluruhan ganjaran yang ditawarkan perlulah kompetitif berbanding pasaran, di mana jumlah ganjaran termasuk bonus dibayar berdasarkan kepada prestasi individu dan syarikat serta penggunaan wang tunai sebagai ganjaran atau insentif.

 

3.         Di antara tahun 2001 sehingga tahun 2003, jumlah kos bagi khidmat perunding luar yang dibelanjakan oleh Khazanah mewakili kira-kira 0.08% daripada jumlah nilai urus niaga pelaburan (RM8.3 bilion) dan pelupusan (RM2.0 bilion). Sementara di antara Mei 2004 hingga Disember 2011 pula, jumlah kos bagi khidmat perunding luar yang dibelanjakan oleh Khazanah mewakili kira-kira 0.6% daripada jumlah nilai urus noaga pelaburan (RM45.5 bilion) dan pelupusan (RM31.7 bilion).

 

4.         Peningkatan kos berkaitan khidmat perunding luar adalah selari dengan peningkatan jumlah pelaburan, peningkatan kemampuan operasi serta pelbagai inisiatif peringkat kebangsaan yang lain, selari dengan mandat baru Khazanah. Bagaimanapun, kadar ini tetap lebih rendah berbanding kadar pasaran bagi khidmat perunding luar yang biasanya dibayar oleh institusi pelaburan lain iaitu antara 1.0% hingga 1.5%.

Notes:

The little Napoleons in Khazanah were playing game again. they are not answering the simple question. The question clearly asked for the amount i.e. how much in Ringgit term. The question did not ask for percentage and yet the little Napoleons were pretending to stupid and use percentage to confuse people.

Typical of those incompetence little Napoleons. They are exhibiting their low mentality thinking that the rakyat are as stupid as them.

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18 thoughts on “20-6-2012 Questions Time: The little Napoloens in Khazanah were at it again

  1. SekolahPondok

    YB: even with the minimum exposure and data provided, it showed Khazanah is inefficient organization under AMOK. Employees grew from 33 pax to 412 pax over 8 years – growth rate of 12X. Total investment and disposal over 3 years from 2001 to 2003 amounted to $10.3B. During this period, consultancy fees paid was $8.4M or $2.7M per year ( 0.06%) . Under AMOK , total disposal and valuation of investment amounted to $77.2B. Total fees paid to consultant $46.3M or $7.2M per year ( 0.6%). This means under AMOK on average Khazanah paid about $5M more for consultant per year. You have a situation not only your employees number has increased several folds but you also depending more and more on your consultants. The ultimate insult is the total assets and disposal only increased by 7X from $10.3B at the end of 2003 to $77.3B in 2011. Time for AMOK to engage a consulting firm specializing in Mathematics to show him this numbers! . Cambridge graduates will be an excellent candidates for this position! ( by the way I just went to sekolah pondok, yet I can compute the above number)!

    Reply
  2. Bina tak Fikir

    The answer shows clearly the con-sultant mentality. we want to know how munch in Ringgit and not the percentage. What is the point of increasing the number of staffs from 33 to 412 when you have a Bina Tak Fikir running Khazanah.

    Khazanah is the cause of failure in MAS and other GLCs – because of the Bina tak Fikir policy. Najib must get rid of the Bina tak Fikir in Khazanah otherwise he will be blamed for all the problems. MAS-AirAsia share suap was one of them.

    Reply
  3. Fikir dengan kaki

    The culture of engaging con-sultants was brought into Khazanah and the GLCs including MAS by the Bina tak Fikir top managment of Kahzanah. You all should know who. That thick skin idiot who is still trying to hold on to his post even though the MAS-Asia share Suap has been reversed.

    The reversal of the share SUAP was an indictment of his failure. Azman Mokhtar must re-examine what he has done for Khazanah.

    Reply
  4. Useless napoleons

    the employees in Khazanah has increased from 33 to 412 under Azman Mokhtar. A great job. But he should look into the result. The results did not commensurate with the increased in number. More employees should mean more staffs but the appointment of CON-sultants have also increased. WTF then??

    The Najib government must revamp Khazanah top management immediately if it wants to get its transformation programes moving. The little napoleons in Khazanah must be discarded, they are cancerous.

    Reply
  5. Stupid Azman

    Azman Mokhtar should resign. He has failed as the MD of Khazanah. Share swap has been reversed. Similarly he should get lost from Khazanah to save the embarrassment to PM.

    Reply
    1. weechookeong Post author

      mamat

      Not yet sdr. I am also waiting for the news.

      Thank you

      with kindest regards

      wee choo keong

      Reply
      1. Anonymouse

        YB, everyone was waiting for you to show up at the AGM. Word had gotten around that you were coming as proxy.

      2. weechookeong Post author

        Anonymous
        Sorry I could not attend because my question came out No: 4 at about !0:30 am during Questions Time this morning. Yes, I am a Proxy for a shareholder and the Proxy Form has been submitted. Will do a posting of point raised in the AGM in a few minutes time.

        Thank you

        Regards

        wee choo keong

  6. suara alam

    Pemahaman budak sekolah pondok lebih baik dari puak-puak di Khazanah.

    Semua jawapan ada unsur-unsur untuk menutup segala salah urus dan salah laku dalam Khazanah..

    Sekarang mereka tau..mereka juga sedang diperhatikan setiap tingkah laku mereka..amok ikutlah langkah si rasdhan.. letak jawatan!

    Reply
  7. X-MAS

    AJ is the same. Shane is gone and Hugh has taken over from him as Director Commercial.

    Soon MAS sales will be ruled by mat sallehs.

    Another mat salleh will be brought in to head sales.

    Reply
    1. mat salleh

      you know what ? why the high handed attitude towards mat sallehs ? where are the most successful airlines in the world today and who is running them ?? these would be in the middle east, carriers such as emirates and etihad – both run and managed by professional airline “mat sallehs”. so the issue is not whether or not mat sallehs should be employed by MAS. instead, the correct question is whether or not the right quality of mat sallehs have been employed. as in everything in life, if you pay peanuts, you get monkeys. that’s why the best airline talent goes to the middle east, where it is attracted by tax free salaries and an environment where professionals can get on with the job of running an airline, free of vested interests and political.

      Reply
      1. X-MAS

        mat salleh,

        From that 3 sentence comment, you have concluded that I am high handed. Allow me to elaborate.

        Not having a vested interest is exactly what’s wrong with mat salleh.

        As often is the case, the mercenary mat salleh will just pack up and leave when things don’t go their way or when their ruse gets discovered by their poor performance. It is the locals who are left behind to pick up the pieces and continue, and take the blame.

        9 out of 10 of them paint themselves bigger than what they actually are. They are failures or lackluster performers in their own country and are after a good life and a fat pay. I am generalizing that too many of them are not interested in working hard.

        They do not prevail themselves to little local sensitivities cos they find it beneath them. This nation would not be where it is if not for the contribution of Malaysia Airlines. They are not interested in this because nation building is not part of their remit.

        There is always a bigot in every mat salleh. They are culturally unable to take a local as their equal. They wish for the local to kowtow to them. They look down on locals including their bosses and local spouses.

        The locals have a vested interest in making it work cos their nation and livelihood depends on it.

        The performance of an airline is NOT due to the color of the skin of their management. I present SIA, China Airlines, Korean and EVA, as perfect examples. Garuda’s amazing recent recovery does without mat salleh in their management team. Air Asia has only appointed a solitary mat salleh in it management team in February this year.

        You bring up Etihad and Emirates as your argument attesting to the mighty mat salleh. I do suggest you examine the staff demographics of the Emirates and Etihad staff. You will find that the strategic position and the position that actually do the work are occupied by Asians especially Indians. Etihad and Emirates owners keep their mat sallehs in check by exactly what you said, paying them fat nontaxable salaries. In order to preserve their fat untaxed salaries, the mat sallehs toe the line. Look at the number of mat salleh staff turn-over at these airlines. Everyone knows why Emirates and Etihad hires foreigners.

        My issue is that I question the ability and performance of the mat sallehs that MAS has employed in the past, the ones they have now and the one they are about to employ. Shane Nolan came from 2 failed endeavors. Danny Kondic is a dismal failure, as with the Paul Mooney and Kim Clarke brought in by TS Md Nor during his time. There are too many of them I could list. The recent hire Duncan is Hugh Dunleavy’s friend. I am not convinced that we got our money’s worth.

        Haven’t MAS learnt enough.

  8. anonymous

    X Mas what is your problem. are you aspiring to be chief of sales of Malaysia Airlines. If you do offer your service. Do not criticise.help

    Reply

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