Monday 8 August 2011

Now I get it ... BADAWI is MAS Advisor.





MAS is a prized loot for some who have the tendency to treat anything and everything with contempt, including the Government and the agencies that crossed their path.
...these guys have been eyeing MAS and its routes for a long time now but MAS is suddenly a 'troubled state-owned carrier' 


AirAsia poised for Malaysian Airline stake
By Kevin Brown in Singapore

Tony Fernandes, the entrepreneur behind AirAsia, the fast-growing budget carrier, is poised to take a significant minority shareholding in Malaysian Airline System, the troubled state-owned carrier, according to people close to the discussions.
Shares in both airlines were suspended from trading on Monday to allow executives to conclude talks that are understood to centre on a proposed share exchange between Khazanah Nasional, the Malaysian sovereign wealth fundthat owns 69.3 per cent of MAS, and Tune Air, part of a privately held group controlled by Mr Fernandes and a business partner, which owns 23.6 per cent of AirAsia. - FINANCIAL TIMES


The secrecy surrounding it and now the speed at which this mega deal is being pushed through invokes the suspicion of many, including Wangsa Maju Member of Parliament Wee Choo Keong...who has been keeping an eye on AirAsia and the remnants of the infamous FOURTH FLOOR. 




KHAZANAH Stop “ANAKTIRIKAN” MAS! How about LSG Sky Chef Brahim?
August 8, 2011 by weechookeong

The Star reported today that “that Khazanah, which owns a 69% stake in MAS, is said to have concluded negotiations with AirAsia chief executive officer Tan Sri Tony Fernandes to come up with a deal to save the national carrier”.  ”Fernandes is to get 20% equity in MAS under the deal that is to be signed this week, with some sources saying it has already received the Government’s approval and could be inked today.”

In my immediate respond to the above, may I pose three innocent questions to Tan Sri Datuk Azman Hj Mokhtar: 
Why these so-called negotiations of the share swap were done with such secrecy? 
Why was there a need for such a rush for this so-called share swap to be signed by this week? 
Is MAS really in dire strait of collapsing or other airline? 

It must be noted that the primary objectives of Khazanah Nasional Bhd (Khazanah) are:
       To hold and manage the investments entrusted to it by the Government of Malaysia; and
       To undertake new investments where there are strategic opportunities, in new sectors and in new markets
Why is Khazanah, which is headed by Tan Sri Datuk Azman Hj Mokhtar, was not interested to look into why MAS was left in such a state and AirAsia “is flying so high” (from what I can see from all the moves)?
Since Khazanah is entrusted by the Government to “hold and manage the investment”, why is Khazanah not interested to look into how and why the growth of MAS was stifled directly or indirectly by the unseen hands! 




If you have the time, also read about the Rural Air Services in Sarawak & Sabah and how the Government-subsidised RAS was snatched from MAS at a time when the national carrier was finalising its Business Turnaround Plan then (Idris Jala should know better). 


The issue of the RAS' Twin-Otter planes being cannibalised for parts before the whole RAS forcefully dumped on MAS' lap within a year after snatching it away (with the full backing of the powerful Fourth Floor outfit under the Abdullah Ahmad Badawi regime) is another matter altogether.   

And then during the tail-end of the failed Abdullah Ahmad Badawi regime, AirAsia was involved in a LABU-LABI deal.


BYE BYE LABU!

TQDATUK SERI NAJIB TUN RAZAK!
The Government has REJECTED both Sime Darby andAirAsia's proposal to build 'Tony's airport in Labu' after a 60-min meeting this afternoon. - 

Badawi was still the lame Prime Minister then but Datuk Seri Najib Tun Razak put his foot down after widespread opposition to the dubious project which was also seen as a 'golden handshake' for some of the Fourth Floor boys.

Now, let me end this with little but scary facts. 

Abdullah Ahmad Badawi, the man who failed this nation and her people miserably, is the current ADVISOR of MAS. 


I understand, Badawi's brother is also milking MAS. 


The infamous Fourth Floor boys are very much in the game (only that the HinduGod-MuslimPriest is preying well below the radar)
So, who have been advising whom now? 

Badawi-MAS  or  AirAsia > x4thfloor > Badawi > MAS ?

Is this the same circus, the ones which were all too common during Badawi's disastrous reign?

Whether MAS is a "troubled state-owned carrier' or AirAsia  is a carrier that is waiting for its empty "PR Bubble to Burst" - lets hope the Government and by extension the rakyat are not shortchanged ... again! 


p/s We did save IJN via the SAVE IJN campaign in the past, is MAS in need of something similar?  


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16 comments:

Anonymous said...

THE PERTINENT QUESTION NOW IS: IS AIRASIA BAILING OUT MAS OR MAS HAS BEEN USED AS A VEHICLE TO BAIL OUT AIRASIA?

Anonymous said...

brader what do you achieve at the end of the day, 1ringgit in your pocket?
ini semua top deals brader, budak-budak kali dalam khazanah senyum lebar. yang duduk luar pun senyum lebar, kali berguling-guling gelak ketawa tengok duit berkoyan hasil deal senyap. apa lu dapat brader? baik lu duduk diam saja brader.
after MAS kita tengok kwsp, tabung haji, ltat dan semua kena tebuk. even petronas is not safe kawan

Anonymous said...

Yes indeed...itu tony wanna gomen in Asia to bail out him. air asia has hutang setinggi gunung maaaa..hehe

drmuzi

man on da street said...

my interrest un this entire episode is not who gains what or who bulshit where. I am more interested in what the hell that sleeping dol got to do with all this. Isnt it enough that he failed in all the nations GLC's. Suadah sudah la , kebencian rakyat terhadap mu belum reda lagi, dah tunjuk gah ngan rumah kayu cengai kat kawasan elit, ni timbul lagi skandal sebegini. Rakyat tak mau di persendakan lagi, rakyat hanya tahu, jikalau di berikan kuasa jikalau tidak bolih berbuat apa apa untuk membendung kerakusan si lanun mengantuk , rakyat ambil balik kuasa yang di anugerahkan tuhan dan berikan kepada orang lain yang lebih layak sebagai anugerah tuhan untuk menerajui rakyat malaysia. Jikalau tidak ,ini bermakna ia hanya membayangkan suatu alat bersekongkol untuk berkuasa dan mengayakan keluarga sendiri. Win win situation, I got the power, you got the freedom, we got the bullshit from them!

man on da street said...

my interrest un this entire episode is not who gains what or who bulshit where. I am more interested in what the hell that sleeping dol got to do with all this. Isnt it enough that he failed in all the nations GLC's. Suadah sudah la , kebencian rakyat terhadap mu belum reda lagi, dah tunjuk gah ngan rumah kayu cengai kat kawasan elit, ni timbul lagi skandal sebegini. Rakyat tak mau di persendakan lagi, rakyat hanya tahu, jikalau di berikan kuasa jikalau tidak bolih berbuat apa apa untuk membendung kerakusan si lanun mengantuk , rakyat ambil balik kuasa yang di anugerahkan tuhan dan berikan kepada orang lain yang lebih layak sebagai anugerah tuhan untuk menerajui rakyat malaysia. Jikalau tidak ,ini bermakna ia hanya membayangkan suatu alat bersekongkol untuk berkuasa dan mengayakan keluarga sendiri. Win win situation, I got the power, you got the freedom, we got the bullshit from them!

Anonymous said...

Yes please bloggers -- help get to thebottom of this MAS-Air Asia deal. Khazanah is a trust company to manage the future of Malaysian children. It is not a private company belonging to the CEO and a few people in power. Enough is enough. Please help make sure we do not have another Pantai, ECM Libra, or Labu deal. And we should not have to gamble to much of EPF money either. The people are suspicious enough... Lets not push it blindly. If indeed the deal will be good for MAS, someone must take the time to show the numbers and explain to the rakyat. Why is there a need to sign within a week?

Anonymous said...

1.As of the 1st Quarter of 2011, Air Asia (AA) debts amounted to 7.7 billion with cash balances amounting to 1.7billion.

2. In August 2010. AA announced a deferment of their proposed aircraft purchases but sometime in June 2011 they reversed their decision and proceeded to place an order for an additional 200 new aircrafts at the Paris Air Show.

3. As of 31 March 2011, based on data from their 1st Quarter report, AA’s capital commitments stood at RM 19 billion. With the above announcement, an additional RM 54 billion will be added as Capital Commitments as implied in this article:
http://biz.thestar.com.my/news/story.asp?file=/2011/6/24/business/8966621&sec=business
the proposed CC of roughly 75 billion will be spread over a 15 year period ending 2026. In other words,AA has to ratchet up its earnings to an average of 5 billion per annum to meet its future dues. From 2006 to 2010. AA’s revenue grew by 10 fold from 110 million to roughly 1.1billion, an average growth of RM 200 million per annum.

4. Its cash trove rose 6 fold from approximately 300 million to 1.7 billion but its debts skyrocketed from 1.05 billion in 2006 to 7.7 billion in 2010, an increase of 700%. One gets the ghastly feeling that this is a debt burden that is spiralling out of control.

The schedule for the aircraft delivery is as follows with the Neo being received from 2016 onwards:
2012 = 14
2013 = 13
2014 = 18
2015 = 19
2016 = 19 (4 Neo)
2017 = 14
2018 = 18
2019 = 19
2020 = 20
2021 = 21
2022 = 23
2023 = 24
2024 = 24
2025 = 24
2026 = 9

To compound the issue, the world economy including Asia’s will be into another maelstrom and air travel will invariably be hit:
http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/08/02/bloomberg1376-LPCGED6TTDS201-7DB69T4DDVIF7J1IS4SUCOAULO.DTL

and we probably will have a white elephant in NS soon give or take three years and another one of my dire predictions I made in when commenting on AA in 2009 materialises.

Of course AA can cancel orders but contract penalties will be onerous. In any case, TF is betting on the assumption that being a big borrower will shield him from foreclosure as banks will be leery of bearing heavy losses! bUt then a sizeable chunk of those loans are being held by Malaysian banks and in the worst case scenario, the government and the taxpayer will have to pick the tab to avert a financial meltdown cascading down the AA slope.

Warrior 231

Anonymous said...

We should demand nothing less than Azman Mokhatar and all his merry men to resign en bloc for failing the nation, its people, MAS and its staff!!!!!

Stop all these bloody non-sense mumbo jumbo words and jargons which are beyond comprehension of non-accountants and non-fools like us!!!!

The problem with all the smart alecks at Khazanah is that just because they went to top unis and colleges, they thought that we ordinary,generally poor and not so smart Malaysians, owed our living to them!!!!

choc-apple said...

haku dah agak dah....saper yg memandai letak dollah kat mas nih...panas satu badan haku al nih nih...bukan ker dulu ader dgr airasia xbayar utang hanggar kat mas ker....pastu nk bagi syer lagi plaks....kaler duk sajer bg punah ranah m'sia tendang jer dollah dr mas....suh dia duk diam ngan duit pencen dia yg raser haku lbh byk dr tun m...suh dia duk relek kat ostolia nu.....hangin haku aih...xabis2 nk penuhkan poket dia..yg sengsara pekerja mas...

choc-apple said...

err...setuju ler kaler buat petition online....

Anonymous said...

Tony will become too big too fail and has a put option to GOM if the fails.

Anonymous said...

Remember the Mega-Merger (Sime Darby, Guthrie, Golden Hope) some time ago?

After the all "fantastic projections", prospects bla bla bla were time and again being reported,... the MEGA MERGER happened !

Now, don't forget soon after that, jeng jeng jeng...the "Cost Overrun" in Bakun Dam project and failed Oils & Gas in Qatar by Sime Darby appeared !!!!

After reading the YB Wee latest posting http://weechookeong.wordpress.com/2011/08/09/tan-sri-azman-mokhtar-have-you-read-the-airasia-financial-statements/#more-7924 let us pray that the same old story dosen't happen.

Anonymous said...

anything with sleepyhead involved, better start a campaign against samdol's decision

vinnan said...

You think we have forgotten it was that piece of Mamakthir shit which got Teoh Beng Hock killed.

Anonymous said...

hahahaha poor vinnan is at the last stage of brain tumour

hello tambi, prepare your will

vinnan said...

Wee Choo Keong started the finger pointing before all the shit started about how the DAP in Selangor was involved in project kickbacks leading to Mahathir moles in the MACC killing Teoh Beng Hock so as to stir up Chinese anger against UMNO. Today, this same Wee Choo Keong bastard is a Puk'mamakthir man being highlighted on a APANAMA mamak blog. We know the truth. No amount of racist, Taliban shit is going to stop this fact from being told over and over again. Understand that asshole.