Shameless Syed Zaid Albar had resigned and bowed out as chairman of SC in disgrace. Thanks God that today is his last day as chairman of SC.
AirAsia Ordered 400 Aircraft From Airbus
In July 2016 it was an international news in the airlines industry that AirAsia had placed a slew of order for airbuses to the tune of a few hundred from Airbus SE. To be precise, AirAsia ordered an additional 100 Airbus from its existing orders of 300! The then CEO of Airbus, John Leahy, and Tony Fernandes of AirAsia were ebullient on the said orders, HERE. Of course, Tony Ferenandes was then the star of the big airshow in Farnborough and other parts of the world. With such big orders, Tony was the super hero and admired by many in the airline industries throughout the world.
Airbus representatives and Kamaruddin Meranun of AirAsia were on a publicity blitz over the said orders and even had a well publicised signing ceremony held in Kuala Lumpur. At the material time, Tony Fernandes and Kamaruddin Meranun, the supremos of PN17 AirAsia, were the stars which no others airline executives in the world could emulate.
At that material time, little did the world know that the slew of orders for aircraft by AirAsia was a quid pro quo whereby AirAsia’s two criminals known as executives 1 and 2 had been paid been paid more than RM200 million in bribes by Airbus. Please read the UK Crown Court Judgement in “NowEveryone Can Defraud AirAsia Shareholders”.
It is unclear that out of the 400 Airbus ordered, how many have been delivered and how many remained outstanding.
Airbus Had Admitted In The UK Crown Court To Have Paid More Than RM200 Million To Two Criminals Executives 1 & 2 of PN17 AirAsia For Aircraft Orders
In late January 2020 the UK Crown Court had adjudged that two criminals known as executives 1 and 2 of PN 17 AirAsia had received bribes of more than RM200 million from Airbus in exchange of aircraft orders. Airbus had admitted in the UK Court of having paid the said bribes to the said two criminals in PN AirAsia. Airbus was penalised with a fine of £3 billion, HERE.
This Airbus Bribery Scandals were widely publicised internationally and in Malaysia.
If the RM200 million were to be refunded as a discount to AirAsia, the said RM200 million could have been utilised by AirAsia to pay out as dividends to its shareholders. Instead the said two criminal pocketed the RM200 mil as bribes.
The two criminals executives 1 and 2 of PN17 AirAsia had acted against the interest of AirAsia and ultimately its shareholders, which was a matter of great concern to both authorities Bursa Malaysia and SC.
Bursa Malaysia Launched An Investigation Into The Airbus Bribery Scandals But Was Immediately Stopped By SC Under The Watch Of Shameless Syed Zaid Albar
In early February 2020, Bursa Malaysia was the first to announce that it had commenced investigation into the said Airbus bribery scandals and followed by MACC, HERE.
The Security Commission (SC) under the watch of that shameless Syed Zaid Albar, the chairman of Security Commission, had followed suit. However, SC had the audacity to instruct Bursa Malaysia to stop its investigations. At that material time, it appeared to be in order as SC has more powers under the law to investigate and prosecute the said two criminals. Little did we know that it was not what we thought it should be. It was just a scheme to stop Bursa from proceeding with its investigation into the said Airbus bribery scandals.
After More Than 2 Years Shameless Syed Zaid Albar Had Continiued To Play Dumb On The Investigation Of Airbus Bribery Scandals
More than two years have elapsed, there was no sign of SC investigating the said RM200 million Airbus bribery scandals. Despite many calls for this shameless Syed Zaid Albar and/or SC to announce the results of the said investigation, that shameless fella chose to play dumb, a curious habit for a person holding high office. Human decay in this shameless Syed Zaid Albar is extremely noticeable. It is a case of “Harap Pagar, Pagar Makan Padi”!
Out of the blue on 28 April 2022 this shameless Syed Zaid Albar tendered his resignation two and half years prematurely and to take effect today (31 May 2022), HERE.
What a great relief for those upright officers in SC and Malaysia! It is good riddance to bad rubbish!
Datuk Wang Adek Hussin Will Take Over As The New Executive Chairman of SC On 1 June 2022
Left: Datuk Awang Adek Hussin, ex-Senator & Minister of Finance II, Tony Fernandes one of the supremo of PN17 AirAsia.
Datuk Awang Adek Hussin, the former Senator and Minister of Finance II, had been appointed by another Senator Tengku Zafrul, the Finance Minister, who was the former CEO of CIMB and Tune Money Sdn Bhd, which is an outfit of PN17 AirAsia, HERE.
Datuk Awang Adek will take office on 1 June 2022. Lets hope that Datuk Awang Adek has the guts to clean up SC by getting rid of the dead woods or the shameless Syed Zaid Albar’s “kuncu” / cronies for covering up the internationally known Airbus Bribery Scandals which involved the two criminals known as executives 1 and 2 of PN17 AirAsia who had been paid more than RM200 million bribes by Airbus.
Updates 5 February 2020 @ @ 2:50 pm: There was another bribery scandal involving Rolls Royceand an executive of AirAsia Group and senior employee of AirAsia X in the case of between Serious Fraud Office v Rolls Royce PLC in UK Court. This case was also been investigated for four years by the same Serious Fraud Office (SFO) UK and Department of Justice of USA (DOJ). A similar settlement with SFO and Statement of Facts have been filed in the UK Court. This bribery scandal will be dealt with in the next article. Please stay tuned.
Two days ago AirAsia denied its involvement in the bribery scandals where Airbus SE had admitted in the Statement of Facts in the Regina v Airbus SE that Airbus had paid US$50 million (RM204 million) to the two directors of AirAsia and AirAsia X. The two directors were identified as AirAsia Executive1 and AirAsia Executive 2 in the Judgement / Verdict of the UK Crown Court, HERE.
In the said AirAsia press statement, the spin doctors chose not to identify who were the AirAsia Executives 1 and 2 that were referred to in the said Judgement / Verdict. The spin doctors in AirAsia were in great pain trying to spin AirAsia out from tight corner but chose to make no mention about the damning evidence in the said Judgement against the two directors of AirAsia and AirAsia X to whom Airbus had bribed them with payments totalling RM204 million, HERE.
Today the stock market reacted to the adverse publicities generated by the said UK Crown Court’s Judgement / Verdict dated 31 January 2020, and the share prices of AirAsia X tumbling down wiping out its market cap by RM4 billion, HERE.
Tony Fernandes & Kamaruddin Meranun Relinquishing Their Posts
To everybody surprise, after four days of the said adverse news broke out from the UK Crown Court, the two top executives of AirAsia and AirAsia X suddenly broke their elegant silence to issue a five paragraphs press release to deny “ALL ALLEGATIONS OF WRONG DOING OR MISCONDUCT ON THEIR PART AS DIRECTORS OF AIRASIA”. Both Tony Fernandes and Kamaruddin Meranun opted to relinquish their post to facilitate the investigation by none other than AirAsia itself. Should we applaud them for their magnanimous act of scarify?
Tony Fernandes and Kamaruddin Meranun did not specifically admitted that they are the AirAsia executives 1 and 2 as stated in the Grounds of Judgement of UK court and Statement of Facts. Malaysians are free to speculate who were the two directors or culprits identified as AirAsia executives 1 and 2 in the said Judgement / Verdict / Statement of Facts.
It is not unusual for the Board of Directors of a public listed company to appoint real independents persons like ex judges and persons of good repute not directly or indirectly associated with AirAsia or its directors to sit on the committee to investigate a scandal of such magnitude, bribery totalling RM204 million.
But in this case, the investigation will be carried out AirAsia itself! The finding of such investigation will no doubt be of not much significant and it will be opened to the obvious criticism of a cover up. It is just a window dressing with the predominant purpose of to fool Malaysians.
The Statement of Facts As Attached To The Said Judgement – Not Allegations But hard Evidence
Yours truly posted below the full Statement of Facts which was prepared pursuant to paragraph 5 (1) of Schedule 17 to The Crime and Courts Act 2013 for the readers to read and decide who were the AirAsia Executive No: 1 and No: 2 as identified in the said Judgement / Verdict.
It will be a good to start reading from page 12 of the said Statement of Facts – IV. Count 1 (MALAYSIA) from paragraph 41 until page 19, paragraph 87.
Yours truly would like to highlight a few important paragraphs:
AirAsia Executive 1 and 2 Key Decision Makers in AirAsia & AirAsia X
Paragraph 41 at page 11 of the said Statement of Facts stated as follows:
Serious Fraud Office “SFO”
“While the SFO has reviewed the Airbus material, it has, as far as is possible, independently sourced information to confirm or challenge the information provided to it. The SFO has instituted an independent procedure to interrogate and examine Airbus documents provided to test the veracity and completeness of the provision of those documents. “ said the Learned Crown Court Judge,
The facts given by Airbus and other facts were tested before incorporated into the Statement of Facts filed in the UK Crown Court as part of the evidence for the UK Crown Court to examine and reach the verdict.
Therefore, after the Judgment by the Crown Court on 31 January 2020 whatever contained in the findings of the Learned Judge or Statement of Facts are FACTS not allegations. Unfortunately they are still a few so-called “journalists” or mercenaries who were in great pain to also spin the Hard Evidence of BRIBERY by stating they were “Allegations” for reasons best known to them. Hopefully this will put a stop to the spinning by the mercenaries on the Hard Evidence of bribery.
Let us move on to examine other damning paragraphs of HARD EVIDENCE in the Statement of Facts.
The Undisputed Evidence In Statement Of Facts
The press statements by the spin doctor in AirAsia and/or Tony Fernandes / Kamaruddin Meranun did not specifically touch on any of the FACTS or EVIDENCE in the Learned UK Crown Court Judge’s Judgment / Verdict. The Spin doctors in AirAsia please have a bit of self respect and pride and don’t be mercenaries to defend the culprits not only through press statement but their personal Facebook posting without basis.
Paragraph 44 of the Statement of Facts sated as follows:
“AirAsia Executive 1 and AirAsia Executive 2were key decision makers in AirAsia and AirAsia X, and were rewarded in respect of the order of 180 aircraft from Airbus. The payments to the Sport team were intended to secure or reward improper favour for them in respect of the business.
Nevertheless yours truly will leave it to you to read and decide for yourself on the facts stated in the said Statement of Facts against the press statements by AirAsia and Tony Fernandes and Kamaruddin Meranun.
Paragraph 53 – This is the most damning evidence!
It was an email from AirAsia Executive 1 to Airbus employee 1 (senior) as follows (verbatim):
“Honestly [Airbus employee 1 [senior] ] I’m fed up. You owe me 4 million already and I am owed 16 million in total. This shd have been pauid ages ago when I bought the first 60 aircraft. I want my moneyand I want compensation … pay up. I want my whole 16 million now.”
Please take note: In the said email of AirAsia Executive 1, he personally bought purchased the 60 aircraft from Airbus and demanded to be paid “his US$16 million”! He clearly stated “MY MONEY” not the money for AirAsia. How blatant could one be! If this was not a clear bribery / corruption case then what is.
Where AirAsia Executive 1 complained to Airbus employee 2 correspondence between Airbus employees where Airbus employee 1 [senior] wrote to Airbus employee 2 [senior] on 8 November 2010 as follows:
“I am sure that you will understand that paying USD 16 m on [Sports team] need some minimum engineering!!!”
in an email to AirAsia Executive 1, Airbus employee 2 [senior] stated:
“I have not seen all the papers relating to the sponsorship but in general. We need to have some internal link to AirAsia as we can’t get board approval simply to sponsor. Externally there is probably no need to link the two.”
There no relationship between AAB, AAX and Sports team albeit the association between them was utilized to generate publicity. The common denominators were AirAsia Executive 1 an AirAsia Executive 2.”
On 27 December 2010. pursuant to the concluded sponsorship agreement (First Sponsorship Agreement) Airbus made a payment of US$3 million to Sport team/ On 9 February 2011 Airbus employee 2 [senior] emailed AirAsia Executive 1 asking for an invoice: “… for the next 3 million.” On the same day Airbus employee 2 [senior] emailed Airbus employee 1 [senior] forwarding the email chain and wrote:
“Airbus employee 1 [senior] as discussed yesterday, please can you pay immediately. It will help me close my deal.”
On 16 June 2011 a draft MoU was prepared between Airbus, and the holding company of AAB. Its stated the purpose was as follows:
“In the context of its international operations, and in accordance with its policy as regards the development of local footprint. [Airbus] is willing to assist in the development and implementation of projects in support of the operation of AiRASIA where it operates … It is anticipated that in the mid and long term, such support would further strengthen the relationship between the industrial, research, educational and economic patterns in Malaysia and play a determining and favorable role in the enhanced penetration of [Airbus] products withinAIRASIA fleet.”
On 16 June 2011, Airbus employee 2 [senior] emailed Airbus employee 1 [senior] with subject “AirAsia” that:
“… [AirAsia Executive 1] … insists that we clear the 10m on signing the PA for 200 and that we have a written commitment for the 40m.”
With the “denial” in the press statements by the spin doctors in AirAsia, Tony Fernandes and Kamarudin Meranun, it is now for all of us to Judge from the Statement of Facts that was part of the UK Crown’s Judgement / Verdict who are the real AirAsia Executive 1 and 2.
From the Statement of Facts it would appear that AirAsia Executive 1 was notoriously daring in demanding bribe from Airbus! Even the Mat Sallehs in Airbus were scared of him. He must have put a few Malaysians ministers and a high ranking officer in the Minister of Finance in his pocket so as to enable him to do wonders in Malaysia. We can only hope that MACC should launch into an in-depth investigation into all activities between the Ministers and AirAsia Executive 1.
By the way there is another bribery scandal involving AirAsia Executive 1 or his outfits and Rolls Royce. A similar settlement with Serious Fraud Office of UK and Statement of Facts have been filed in the UK Crown Court Yours truly is studying the documents now.
Please read paragraphs 53 – 57, 60 – 69 & 70 – 87 of the Statement of Facts below. Full Statement of Facts has 40 pages and is published below.