The Shares “SUAP” & RM10 Million Fine!

After signing the infamous MAS-AirAsia share swap on 9-8-2011.  The “Happy Family”.  From left: Datuk Kamarudin Meranun of AirAsia, Tan Sri Azman Mokhtar, MD of Khazanah, Tan Sri Md Nor Yusuf, chairman of MAS, Tan Sri Tony Fernandes of AirAsia, En Mohamed Rashdan and Datuk Seri Nazir Razak, the CEO of CIMB.

Today the learned High Court Judge, YA Tuan Nordin Hassan had set aside the decision of the Competition Appeal Tribunal in 2016 that MAS and AirAsia did not need to pay the fine as they did not infringe the Competition Act.  The learned Judge has reinstated a decision by the Malaysia Competition Commission (MyCC) that fined AirAsia and Malaysia Airlines System Berhad RM10 million each for breaching a market-sharing prohibition. For detail of the report please read HERE.

Amok & Mohammed Rashdan Yusof were the architects of the share “SUAP”?

Actually the then directors of MAS and the Khazanah’s whiz kids should be held responsible for the fine of RM10 million because they were instrumental in the “SHARE SUAP”, HERE.

Yours truly salute the CEO of MyCC CEO, Tuan Iskandar Ismail, for pursuing this matter in the public interests.

The Background

In 2011 the MAS-AirAsia Share Swap was hatched in secret by the whiz kids Khazanah.  The Share Swap was popularly known as the infamous “Share SUAP”.  In 2011 yours truly was the MP for Wangsa Maju and  had been calling for Khazanah to reveal the full details of the said “Share SUAP”.  Of course, Khazanah under the leadership of Tan Sri Azman Mokhtar did not provide details of the “Share SUAP” except hiding behind the CON-sultant term, “Collaborative Framework”.

There was no public discussion about the “Share SUAP”.  The Share SUAP agreement was suddenly signed on 9th August 2011.

MAS union and many parties are against the “Share SUAP” but Tan Sri Azman Mokhtar and the Khazanah’s whiz kid, Tuan Mohamed Rashdan (aka Danny), were adamant to see the “Share SUAP” through.

The Immediate Results of The Share “SUAP”

Datuk Kamarudin Meranun proudly showing his then newly acquired MAS credential during the infamous MAS-AirAsia share “suap”

After signing of the Share “SUAP” agreement, Tan Sri Tony Fernandes and Datuk Kamaruddin Merandum were appointed to the Board of MAS, many Firefly and MAS routes were stopped with short notice with no good reasons and etc. En Mohamed Rashdan (Danny), the Khazanah’s whiz kid and “Bina Tak Fikir” boy, rushed to London to sponsor QPR football team!

In October 2011, the then Deputy Minister of Finance, YB Datuk Awang Adek told Parliament during Questions Time that the MAS – AirAsia Share “SUAP” was a “KERJASAMA” between MAS and AirAsia. What a joke! Please read HERE.

For more than 8 months, yours truly had been advocating in Parliament for the termination of the share “SUAP” because the said share “SUAP” was not only ill thought out, but not done in the best interest of the nation and our national icon, MAS.  Finally, the then PM, Dato Seri Najib Razak, gave in to the demand and reverse the share “SUAP” but the damaged was only done.

For more background articles on the “Share SUAP”, please read HERE, HERE, HERE, HERE, HERE, HERE

 

Delisitng MAS Another Exercise of “Bina Tak Boleh Fikir”?

Khazanah Nasional Bhd has announced the delisitng of MAS this morning.  However, yesterday at about 10:30 am Reuters broke the story about the impending announcement by Khazanah Nasional Bhd, HEREContinue reading “Delisitng MAS Another Exercise of “Bina Tak Boleh Fikir”?”

Tan Sri Aziz: “Selling Assets Is Not Good For MAS Image”

 

Yg Bhg Tan Sri Abdul Aziz Abdul Rahman, the first  CEO of MAS. He must be pointing at Menara MAS in Jalan Sultan Ismail.
Yg Bhg Tan Sri Abdul Aziz Abdul Rahman, the first CEO of MAS. He must be pointing at Menara MAS, which was a landmark in Jalan Sulan Ismail. It has been sold during the time when YB Datuk Idris Jala was the CEO of MAS. Photo taken from Malaysiagazette.com

 

When Yg Bhg TAN SRI ABDUL AZIZ ABDUL RAHMAN retired as the CEO/Managing Director of MAS, he left MAS with RM5 billion cash reserve. During his tenure as CEO, MAS employees have been paid yearly bonuses. Continue reading “Tan Sri Aziz: “Selling Assets Is Not Good For MAS Image””

MAS staffs: Big Brothers are watching you!

Spying
Installation of the special tracking software into the computer of MAS staffs to prevent LEAKAGE of  the “PROBLEMS” in MAS?

In April 2012 the top management of MAS was seemingly busy with the great ideas of turning around MAS with equally great plan to block internet mail access.

Continue reading “MAS staffs: Big Brothers are watching you!”

Datuk Ibrahim Ahmad Badawi: “We want to work with MAS.”

Datuk Ibrahim bin Ahmad Badawi: “We want to work with MAS”.

On 26-10-2012 Datuk Hj Ibrahim bin Hj Ahmad Badawi, the brother of the former PM (YB Tun Abdullah Badawi) and also the Executive Chairman and majority shareholder of Brahim’s Holding Bhd (Brahim’s Holding) was quoted by the Star to have said: “We want to work with MAS.” For the full Star report read in HERE. Continue reading “Datuk Ibrahim Ahmad Badawi: “We want to work with MAS.””