Will The Shining Star Of Ambitious But Incompetent Zafrul Shine After GE15?

The ambitious but incompetent Zafrul posing with the then Minister of Finance YB Lim Guan Eng

The Shining Star, Zafrul!

To begin with the superstar Zafrul’s mother is the one-time powerful Raja Datuk Zaharaton Raja Zainal Abidin.  She was the former Director-General of the Economic Planning Unit (EPU) of the Prime Minister’s Department during Tun Mahathir’s administration.  While his father, Tengku Abdul Aziz Bin Tengku Harris is a businessman. The rest was history.

Zafrul, the MD of Avenue Capital Resource Bhd

In 2002 – 2005 Zafrul was the MD of Avenue Capital Resource Bhd (Avenue Capital), which was originally owned by Minister of Finance Inc.  Avenue Capital was incorporated on 3 March 1926, HERE.  

From 2003 – 2009 Abdullah Badawi was the PM.  It was an open secret that during this period a group of “punahsihat” aka known as “Budak Tingkat 4” was running amok in the PMO.  The Tingkat 4 was practically running PMO and everywhere!

During Badawi’s reign, his son in law the present Minister of Health, Khairy Jamaludin was flying very high!

Government / Rakyat Owned Avenue Capital Merged With ECM Libra

Soon after Zafrul left Avenue Capital in 2005, there was a move to merge ECM Libra, the then small share broking firm, and Avenue Capital. The said merger was extremely controversial to say the least.  

In 2006 YB Kamaruddin Jaffar, the then Secretary-General of PAS had questioned the sudden sale of Avenue Capital to ECM Libra, HERE

PAC’s Investigations Into The Controversial Merger

Just to digress a little. The merger was the talk of the town in 2007. In 2007 Public Account Committee (PAC) of Parliament was compelled to launch an investigation into the ECM Libra Bhd and Avenue Capital merger.  The controversies were about why a government / rakyat owned company had to merge with ECM Libra, which was many times smaller than Avenue Capital in every sense of the word!

Unfortunately, or fortunately for some the PAC investigation was abruptly halted by the power that be under the pretext of so-called principle of sub judice and the controversies died down, HERE.   

The so-called merger took place during Badfawi’s administration aka Tingkat 4 administration.

Kalimullah, Lim Kian Onn – ECM Libra

Kalimullah & Lim Kian Onn, who is still a director of AirAsia X

The founders of ECM Libra are:  

  1. Dato’ Seri Kalimullah Bin Masheerul Hassan, the chairman of ECM Libra. 
  1. Dato’ Lim Kian Onn

In 1979 Dato’ Seri Kalimullah Bin Masheerul Hassan aka Kali was just a NST reporter prior to the incorporation of ECM Libra. Prior to that Kali was attached to foreign press including Singapore Strait Time.  In September 2002, he was appointed as the chairman of Bernama. On 1 January 2004 he resigned as Bernama’s chairman and was appointed as the Group Editor of NST.    

Khairy Jamaluddin who is popularly known as SON IN LAW to Badawi, was one of the shareholders in ECM Libra. Of course, it was believed that this happened by chance!

In 2016 Khairy (when he was deputy chief of  UMNO Youth) sold his 10.2 million shares in ECM Libra which he purportedly had bought them in December 2015 for 71 Sen and sold it at 65 Sen according to the report, HERE

In June 2011, when there were allegations / rumours that Khairy Jamaluddin held shares in AirAsia, he threatened to sue who ever said that, HERE.   

Left to right: The still powerful former deputy minister of finance II, Nor Mohamad Yakop, the super star Zafrul, his good friend Tony Fernandes of PN17 AirAsia and Kalimullah Bin Maheerul Hassan, the former NST reporter, AirAsia X shareholder and founder / Chairman of the famous ECM Libra.

By the way the famous Nor Mohamad Yakop may have retired from active politics, he is very much around! Watch carefully then you will understand!

In 2007 Tony Fernandes of AirAsia appointed Kalimullah as chairman of AAX. He was at one time one of substantial shareholders in AirAsia X Bhd (AAX).  In September 2015, AAX was bleeding badly and he had sold part of his shareholdings in AAX at 67.8 Sen and 66.4 Sen per share, HERE.  

AAX is now under PN17 and its share price is about 0.6 Sen only per share! 

Lim Kian Onn was and still is a director of AA and AAX. 

In June 2011, when allegations were amidst that Khairy Jamaludin held AirAsia shares, he threatened to sue, HERE

AirAsia Aviation Group Appointed Additional Directors – Jamaluddin & Norza Zakaria

On 23 March 2022, AirAsia Aviation Group (AAG) had announced four new board members initiatives to reflect the company’s commitment to deliver a new strategic direction for growth and gold standard corporate governance.  

Left: Tan Sri Jamaluddin Bin Ibrahim the former CEO of Axiata, now non executive chairman of AirAsia. Extreme right: Tan Sri Mohamad Norza Bin Zakaria, former UMNO Youth Chief of Federal Territory and current president of BAM, now a director of AA

Amongst the four is the famous Tan Sri Jamaluddin Bin Ibrahim aka Jamal, who was the former CEO of AXIATA, was appointed as non-executive chairman of AAG and Tan Sri Mohamad Norza Bin Zakaria (Norza Zakaria), HERE.

In March 2009 Norza Zakaria, the then Federal Territory UMNO Chief, was charged for bribing others to help him to win the UMNO elections, HERE.  In 2011 he was freed because the witnesses were not co-operative. 

In 2017 when Khairy Jamaludin was the then Minister of Youth and Sports, Norza Zakaria was appointed as the President of the Malaysia Badminton Association.

Rumour has it that Norza Zakaria has powerful connections!

Zafrul’s Rise From Tune Money Sdn Bhd To CIMB

In 2007, Zafrul was one of the substantial shareholders of Tune Money Sdn Bhd, Asia’s first “no-frills” online financial service provider.  In March 2007 he was appointed the CEO of Tune Money. 

Thereafter, Zafrul was flying to a majestic height then!  

On 16 June 2010, when Wahid Omar was the president of Maybank, Zafrul was appointed as the COO of Maybank Investment Bank.

In 2013, Zafrul left Maybank after losing the race to become the Maybank CEO.  Zafrul was then parachuted into CIMB and personally vouched for by joker Nazir Razak himself:

“He has a proven record in investment banking in Malaysia and ASEAN. He now has the opportunity to spearhead the largest indigenous APAC ex-Japan IB franchise to greater heights”. HERE 

Ambitious Zarul’s great achievement in CIMB was in 2015, when CIMB recorded its lowest net profit in nine (9) years while Zafrul was at the helm, HERE

In May 2018 soon after the collapse of BN government in GE14, the joker Nazir Razak abruptly resigned from his cozy CEO post and disappeared to London. After the collapse of PH government at the end of February 2020, Nazir Razak suddenly reappeared in Malaysia trying to spearhead so-called reforms under his pet project called “Better Malaysia Assembly” with his so-called 55 eminent Malaysians including Tony Fernandes and 54 others, HERE.

After The Infamous “Sheraton Move” – Zafrul Was Catapulted To Stardom!

On 9 March 2020 soon after the collapse of PH government, out of the blue Zafrul was appointed as senator and thereafter parachuted to be the new Minister of Finance.  He has no political experience whatsoever. Rumour has it that he has special connection with the power that be and the playmate of certain powerful non-politician with special “payung …”!   May be those in the know could tell us who is that powerful person. 

The Pandora Papers & Zafrul

In 4 October 2021, Pandora Papers published about Capital Investment Bank (Labuan) Ltd, a boutique bank incorporated in the offshore jurisdiction of Labuan, in a cache of documents from leading Panama law firm Alemán, Cordero, Galindo & Lee (Alcogal).  There was an explanation by Zafrul’s aide on the date when he was the director of Capital Investment that he was no longer a director, HERE

Zafrul & His New Found Dream To Be A Full Fledge Politician in GE15

After Zafrul having tasted powers and trappings as an un-elected minister, rumour has it that this ambitious Zafrul is dreaming to stand for election in the Kuala Pilah Parliamentary seat come GE15!  Unfortunately, Kuala Pilah is an UMNO’s stronghold.  Rumour has it that he is using his special payung … to lobby for him!  Let’s watch the moves of this unelected minister which “Tongkat” he will be using to facilitate and realise his new found day dream / ‘mime siang’ for Kuala Pilah! 

Stay Tuned – Next Change

Now Everyone Can Bribe Directors of AirAsia & AirAsia X!

On 31 January 2020 the Learned UK Crown Court Judge, Dame Victoria Sharp P, delivered a damning Judgement / Verdict in a case between the Director of Serious Fraud Office of UK and Airbus SE for giving bribes to directors and employees of AirAsia and AirAsia X of Malaysia and others.

In her judgment, Dame Victoria Sharp said: The seriousness of the criminality in this case hardly needs to be spelled out. As is acknowledged on all sides, it was grave.”  “The number of countries subject to intense criminal investigation by the various agencies, and the scale and scope of the wrongdoing disclosed in the Statement of Facts demonstrate that bribery was to the extent indicated, endemic in two core business areas within Airbus,” she added

The said judgment arose from an application asking the UK Crown Court for approval to defer prosecution agreement reached between the UK Serious Fraud Office (SFO) and Airbus SE. In the said Judgement Airbus has to pay Euro 990,963,713 into the Consolidated Fund through SFO.  Yours truly has incorporated below the full writtenJudgment for those who would want to read it.

Backgrounds – AirAsia / Tony Fernandes Was On Shopping Spree

Captain Loke, our shameless Malaysia Minister of Transport, was seen in public together with his buddy Tan Sri Tony Ferndandes recently. They must be discussing about how the outbreak of the deadly Coronavirus in Wuhan!

On 23 June 2011 the buddy of our Minister of Transport, Anthony Loke aka “Captain Anthony Loke”, Tan Sri Tony Fernandes of AirAsia proudly announced AirAsia purchased 200 A320 neo aircraft from Airbus, this was a record deal in history, HERE.  Of course,  AirAsia had been deferring deliveries of some of the ordered aircrafts.

On 19 July 2018 Tan Sri Tony Fernandes, the CEO of AirAsia Group, had again announced that AirAsia had purchased another 100 aircraft from Airbus so that AirAsia X could fly out from Malaysia to London and other European cities like Vienna and Prague, HERE.  In 2020 we are still waiting for AirAsia X to fly to London, Vienna and Prague but no sign at all.

According to the above press reports, within 3 years AirAsia had bought a total 300 aircraft from Airbus.  According to the said Grounds of Judgment AirAsia had bought 406 aircraft!

No other airlines in the world could match AirAsia when purchasing aircraft is concerned.  AirAsia X has been making losses and yet it was able to buy new aircraft. Malaysia boleh!

Count No: 1 of The Charges Against Airbus & Connected To Directors/Staffs of AirAsia & AirAsia X

Airbus had admitted to many counts of payments of bribe to directors of companies and government official. Each of the counts on the Indictment concerns similar conduct, the detail of which can be found in the Statement of Facts.  In brief, persons associated with Airbus, not exclusively its employees, offered very substantial sums of money by way of bribes to third parties in order to secure the purchase of aircraft, by civil airline companies, in counts 1 to 4; and by the Government of Ghana, in count 5.

Malaysia is of course top of the list of charges. The two directors and staffs of AirAsia and AirAsia X have made us famous overnight!  We should be proud of the said two directors AirAsia and AirAsia X, who have been identified as AirAsia executives 1 and 2!

In Paragraphs 39 and 40 of the said Judgement, the Learned Judge had stated the following:

Count 1:     Malaysia

Paragraph 39 of the Grounds of Judgment

The first count alleges that contrary to section 7 of the Bribery Act 2010, between 1 July 2011 and 1 June 2015, Airbus SE failed to prevent persons associated with Airbus SE from bribing others concerned with the purchase of aircraft by AirAsia and AirAsia X airlines from Airbus, namely directors and/or employees of AirAsia airlines where the said bribery was intended to obtain or retain business or advantage in the conduct of business for Airbus SE.

Para 40

Para 40 AirAsia and AirAsia X are two major airlines in Southeast Asia, headquartered in Malaysia and were significant customers of Airbus at the time of the offences. Between October 2005 and November 2014, AirAsia and AirAsia X ordered 406 aircraft from Airbus, including 180 aircraft secured during the indictment period by way of improper payment (made by EADS France SAS, later Airbus Group SAS), and the offer of a further improper payment. The improper payment consisted of $50 million (and Airbus employees also offered but did not pay an additional $55 Million) paid to directors and/or employees of AirAsia and AirAsia X airlines as sponsorship for a sports team. The sports team was jointly owned by AirAsia Executive 1 and AirAsia Executive 2 but was legally unrelated to AirAsia and AirAsia X. The additional improper payment was prevented by the October 2014 freeze on payments to BPs described at para 29 above.”

The Directors Of AirAsia and AirAsia X

Director of AirAsia: 3rd from left: Datuk Kamarudin Meranun 5th from left: Datuk Abdul Aziz bin Abu Bakar & 6th from left:Tan Sri Tony Fernandes

AirAsia X – Board of Directors

1.  Tan Sri Rafidah Aziz (senior Independent Non-Executive Chairman

2.  Datuk Kamarudin Mernanun (Non-Independent Non-Executive Director)

3.  Tan Sri Tony Fernandes (Non Independent Non-Executive Director)

4.   Dato’ Yusri Mohamed Yused Yusof (Independent Non-Executive Dirtector)

5.   Lim Kian Onn (Non-Independent Non-executive Director)

6.   Tan Sri Asmat Kamarudin (Independent Non-Executive Director

7.   Dato’ Fam Lee Ee (Non-Independent Non-Executive Director) (MCA Youth)

AirAsia Bhd – Board of Directors 

1.  Datuk Kamarudin Meranun (Non-Independent Non-Independent  Executive Chairman)

2.  Tan Sri Tony Fernandes (Non Independent Executive Director & Group CEO)

3. Dato’ Abdel Aziz @ Abdul Aziz bin Abu Bakar (Non-Independent Non-Executive Director)

4.  Dato’ Mohded Khadar (independent Non-Executive Director and Chairman of Audit Committee

5.  Dato’ Fam Lee Ee (Independent Non-Executive Director) (MCA Youth)

6.  Mr Stuart L Dean (Independent Non-Executive Director).

7.  Noor Neelofa Mohd Noor (Independent Non-Executive Director)

Historical Facts On The Two Top Brass of AirAsia:  Tony Fernandes & Kamarudin Meranun

1.   Tony Fernandes Was Probed By Indian Authorities On Allegations of Bribery To Obtain Flying Licence

Left to Right:  Datuk Kamruddin Meranun, Captain Loke the Minister of Transport and good buddy of Tony Fernandes and Tan Sri Tony Fernandes

On 29 May 2018 it has been reported by Reuters that Indian police said they have filed a case against AirAsia group Bhd, the airlines C EO Tony Fernandes  and its domestic entity ion India over allegations of corruption and breaking rules in obtaining a flying licence. The Central Bureau of Investigation (CBI) accused the airline, some of its employees and third parties of violating India’s foreign direct investment rules while obtaining the license, and of bribing government officials in an attempt to get regulations relaxed to allow AirAsia India to fly international routes.

In its complaint, the CBI said the airline, Tony Fernandes and others “chose to beat the legal frameworks and policies of the aviation sector of India” and lobbied government officials “to secure mandatory approvals, some of them through non-transparent means”.  Please read HERE.

On 16 January 2020. it has been reported in  Business Today of India that AirAsia Group Bhd’s Tony Fernandes has been summoned by Enforcement Directorate (ED) In India for questioning regarding irregularities of funds and even criminal misconduct by AirAsia when it was lobbying for its operational licences in India, HERE.

It is not known whether to date Tony Fernandes the Group CEO of AirAsia had submitted himself for the said investigation.

2.   Datuk Kamarudin Meranun Was Involved In Insider Trading  During MAS-AirAsia Share “SUAP”

Datuk Kamarudin Meranun proudly showing his  MAS credential during the infamous MAS-AirAsia shares “SUAP”.

In 2011 Datuk Kamarudin Meranun was believed to have made some huge trading profits out of the proposed “MAS-AirAsia share SUAP” deal between the substantial shareholders of then MAS and AirAsia Group Bhd. It was an insider trading, HERE.

As a result of the finding of the said insider trading by  the Security Commission, Datuk Kamarudin Meranun, the Executive Chairman of AirAsia Group, had to enter into a settlement with the Security Commission and paid RM3.64 million for acquiring 5.66 million MAS shares between 1-5 August 2011, HERE.

The said share “SUAP” was engineered by the morons in Khazanah under the former MD of Khazanah, Tan Sri Azman Mokhtar, and it was announced on  7 August 2011,HERE.

In September 2019, the morons in Khazanah were up to their old tricks this time it was trying to merge MAS with the ailing AirAsia X, which had been making huge losses for some years, HERE.

Recently we have also heard that the morons in Khazanah were trying to again “handover” MAS on a silver platter to AIrAsia. Thank God that there was immense public pressures against the said disposal and it has gone quiet at least for now.  Knowing the backgrounds of the said morons in Khazanah they will strike again. We must closely watch them.

Who Are the AirAsia Executives 1 & 2?

AirAsia changed the livery on its aircraft to BN’s GE 14th Campaign slogan, “Hebatkan Negaraku”. Left:  Datuk Kamarudin Meranun (in white shirt), (the non-independent Executive Chairman of AirAsia Group). Centre: Najib. Extreme right: Tony Fernandes (in black shirt)(the Group CEO of AirAsia).  Please guess who were the AirAsia Executives 1 or 2.

Who were the AirAsia Executive 1 and AirAsia Executive 2 ?  Yours truly believes that all of you know who they were!  It is an open secret. If by chance you do not know, please make a guess and you will no doubt hit the bull eye.

Over To Puan Latheefa Koya  / MACC / SPRM

The arrest and detention of Dato’ Dr Siew Ka Wei (Ancom Bhd executive chairman) and Elizabeth Ken, the CEO of Geeko Tech Sdn Bhd and media specialist of Redberry Media Group, which is another outfit of Siew ka Wei. Redberry is connected to Ancom Bhd.

MACC/SPRM should be interested to examine thoroughly the Grounds of Judgment and take the necessary actions. Thereafter, SPRM / MACC can always NFA (No further Action) it after a few months like what it had done on several high profile cases. Rumour has it that the scandalous ‘Speedy Gonzales” Geeko RM100 million deal involving Dato’ Siew Ka Wei, who is the executive chairman of Ancom Bhd, and Elizabeth Ken, the Redberry Media Specialist, had been classified as “NFA” (No Further Action). Please read HERE.

$50 million Paid To the Directors Of AirAsia As “sponsorship” Of the Sport Team, Which Was Jointly Owned By the Executive 1 & 2 But Legally Unrelated To AirAsia & AirAsia X!

Count No: 1 at para 40 of the Grounds of Judgment

… The improper payment consisted of $50 million (and Airbus employees also offered but did not pay an additional $55 Million) paid to directors and/or employees of AirAsia and AirAsia X airlines as sponsorship for a sports team. The sports team was jointly owned by AirAsia Executive 1 and AirAsia Executive 2 but was legally unrelated to AirAsia and AirAsia X. The additional improper payment was prevented by the October 2014 freeze on payments to BPs described at para 29 above.

Was the “Sport Team” referred to in part of Count 1 above  was the Caterham F1 Team?  If it is.  According to Wikipedia: The Caterham F1 was a Malaysian, later British owned Formula One team based in the UK. which raced under a Malaysian licence.  The Caterham brand competed in the Formula One World Championship in. 2012 – 2014, following the acquisition of British sport car manufacturer Caterham Cars by former owner and team principal  Tony Fernandes, forming the Caterham Group, HERE.

During the happy time in Caterham

(L to R): Riad Asmat (the son of Tan Sri Asmat – director of AA) of AirAsia (MAL) Caterham F1 Chief Executive Officer with Datuk Kamarudin Meranum of AirAsia (MAL) Caterham F1 Shareholder; Mike Gascoyne (GBR) Caterham Group Chief Technical Office; and Tony Fernandes of AirAsia  (MAL) Caterham Team Principal at a Caterham F1 Team Photograph.
25.03.2012. Formula 1 World Championship, Rd 2, Malaysian Grand Prix, Sepang, Malaysia.

Tony Fernandes Sold Caterham To A Swiss Group

In October 2014 Tony Fernandes announced then the sale of Caterham. Please see the Guardian report entitled “F1 team Caterham threaten former owner Tony Fernandes with legal action“.  According to the UK Guardian Newspapers report, Tony Fernandes spent £250 million on the organisation and then sold it. Please also read Paul Tan’s posting, HERE.

Lets wait for the Airbus scandal to unfold a little bit more then we will get a clearer picture on the scandal.  For now we hope that the AirAsia Executive 1 or 2 will come out to clarify what had been stated in the said Grounds of Judgment.

Over to Security Commission & Bursas KL (KLSE)

The $50 million (equivalent RM204 million) bribe paid by Airbus to the AirAsia Executives 1 and 2 should be treated as income for airAsia and AirAsia X.  However, according to paragraph  39 of the said Grounds of Judgment the RM205 million was paid under the scheme of “sponsorship” to  a sport team which was unrelated to AirAsia or AirAsia X. In short the RM205 million was paid to the personal company of AirAsia executives 1 and 2.

No doubt this RM204 million that was received from Airbus was not reported in the respective Annual Accounts of AirAsia Bhd and AirAsia X Bhd. If the RM204 million was reported it would have changed the respective Annual Accounts of AirAsia X drastically.

In the best interest of the investing public, the Security Commission (Suruhanjaya Sekuriti) and Bursa KL are duty bound to launch an immediate investigation into the receipt of the said bribe of RM204 million by AirAsia executives 1 and 2.

The Full Grounds of Judgment / Verdict Of UK Crown Court 

If you don’t want to read the whole judgment, please proceed to paragraphs 39 – 40 at page 10 – 11 for the payments made to the directors and employees of AirAsia and AirAsia X.

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Grounds of Judgment page 2

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Grounds of Judgment page 3

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Grounds of Judgment – page 4

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Grounds of Judgment – page 5

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Grounds of Judgment – page 7

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Grounds of Judgment – page 8

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Grounds of Judgment – page 9

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Grounds of Judgment – page 10

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Grounds of Judgment – page 11

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Grounds of Judgment – page 12

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Grounds of Judgment – page 13


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Grounds of Judgment – page 14

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Grounds of Judgment – page 15

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Grounds of Judgment – page 16

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Ground of Judgment – page 17


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Grounds of Judgment – page 18

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Grounds of Judgment – page 19

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Ground of Judgment – page 20

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Grounds of Judgment – page 21

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Grounds of Judgment – page 22

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Grounds of Judgment – page 23

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Grounds of Judgment – page 24

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Grounds of Judgment – page 25

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Grounds of Judgment – page 26

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Grounds of Judgment – page 27

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Grounds of Judgment – page 28

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Grounds of Judgment – page 29

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Grounds of Judgment – page 30

End

Maybank Investment pumped in another RM6.8 million to stabilize share price of AirAsia X

Now Everyone Can Buy AA X share including Maybank!
On 24-7-2013 Maybank bought another RM6.863 million worth of AirAsia X shares to stabilize the share price.

NST Business reported 25-7-2013 that Maybank Investment Bank Bhd has purchased 5.49 million shares in AirAsia X Bhd yesterday to stabilise the stock’s price. The company told Bursa Malaysia yesterday Maybank IB had purchased the shares at RM1.25 each HERE. Continue reading “Maybank Investment pumped in another RM6.8 million to stabilize share price of AirAsia X”

B K Sidhu’s source said “AirAsia X IPO over subscription rate is 5 to 6 times”!

B K Sidhu is the de facto spokewoman for AirAsia & AirAsia X
B K Sidhu seems to be the de facto spokewoman for AirAsia & AirAsia X. She has been known to have written only positive articles on AirAsia and AirAsia X Bhd

The directors/shareholders of AirAsia X Bhd, which is part of the group of AirAsia Bhd, namely Tan Sri Tony Fernandes, Datuk Kamarudin Meranun, Datuk Kalimulah Hassan, Mr Lim Kian Onn, Tuan Omar Ong  and others must be jumping for joy after reading the advertisement campaign article above by Ms B K Sidhu of the Star.  Continue reading “B K Sidhu’s source said “AirAsia X IPO over subscription rate is 5 to 6 times”!”

DCA failed to withdraw the AOC of FAX / AirAsia X in 2007 (Part 1)

FAX also known as Fly Asian Express in 2006 to September 2007
FAX also known as Fly Asian Express Sdn Bhd in 2006 to September 2007 during its RAS days

AirAsia X Sdn Bhd, formerly known as FAX/Fly Asian Express Sdn Bhd during the Rural Air Services days in 2006 to August 2007
AirAsia X Sdn Bhd, formerly known as FAX/Fly Asian Express Sdn Bhd

The Air Operator Certificate (AOC) of AirAsia X Sdn Bhd (AAX), formerly known as Fly Asian Express Sdn Bhd (FAX), should have been withdrawn by DCA in year 2007 when it gave up the Rural Air Services (RAS) in Sabah and Sarawak. Continue reading “DCA failed to withdraw the AOC of FAX / AirAsia X in 2007 (Part 1)”