Gaji Buta & Durian Runtuh. Malaysia Airlines bled more than half a billion ringgit in just 3 months, its latest quarterly results show, here. The carrier claims slightly more than 50 per cent of the losses was because it hedged its fuel needs wrongly. Well, to err is human ....
But what about the balance of the losses? Where did they come from? Are there people in MAS taking home GAJI BUTA? Compare these two stories: Chew Choong Seng, the CEO of SIA, is taking a pay cut, here, while Tengku Azmil Zahruddin bin Raja Abdul Aziz is given an option of buying 11.88 million shares in MAS!
Our national carrier has too many retirees on the board headed by Munir Majid. Take a look at Munir's deputy chairman N. Sadasivan, who also happens to be a former chairman of the now infamous Kenmark Holdings. Look at the list of companies he is in, here, and you'll wonder where he'd get the time to focus on MAS or any of them, for that matter.
Gaji buta for some, durian runtuh for others. Abdullah Ahmad Badawi, the MAS advisor, should start cracking on the lop-sided monopoly contracts which are against MAS' greater interest. He can start with the LSG Sky Chefs-Brahim's Sdn Bhd catering contract with the national carrier. In three months, the Sdn Bhd did slightly more than RM50 million worth of business with MAS.
Oh, by the way, the Brahim in the Sdn Bhd is Ibrahim Badawi, brother of the MAS adviser.
Bloodsuckers. Leaches. Vempires. Draculas.
ReplyDeleteAbdullah Badawi get cracking'ah? I got a better chance of winning Magnum's jackpot and Toto 6/49 in the same draw, than sleepy to awake.
ReplyDeleteSadasivan MUST be the ONLY Indian in Malaysia. He has singled handedly filled up the Indian quota.
ReplyDeletenepotism amongst badawi family members DURING bodowi's tenure AS Prime Minister is exposed now.
ReplyDeleteBut the opposition will say that Bodowi is the best PM they ever had..
Wah La Weh!!!!!
ReplyDeleteKembong perot dapat contract makanan with MAS senang senang je...
Best ni!!!
Aku pun nak ada abang macam PAk Lah lah..
Tak pun bapak mertua macam pak lah...
Apa malang aku KJ masuk line dulu..
wah, aisehman rocky, satu posting lu suda pancung lima kepala sama dua kompeni. Lu manya dashyat @ mana jahat'ah?
ReplyDeleteMunir Majid, and Sadis are Anwar's boys. The Ceo and Ibrahim are Badawi's boys. Najib is the PM but, looks like the Kali-Anwar-Badawi axis are the real rulers of the country and its airline
ReplyDeleteThe bloody stinking Tun Dol allowing his brother in MAS kitchen screwing up the Ringgits in a flagrant and audacious manner. Come on, old man, resign as adviser, if you want your own brother to get contracts in MAS.
ReplyDeleteWhat has happened to this one-time Mr Clean, Mr Nice, graduate in Islamic Studies, promoter of Islam Hadari? Has he gone bonkers?
He can't plead ignorance on a matter like this. Like he perhaps did on ECM Libra etc. When will God punish him for all the ills of society that he has brought on us all through his flip flopping, auto-piloting and sleepy administration? He has to be punished, otherwise there is no end to the pilferage of the nation's coffers thru the GLCs etc. Sime Darby and all.
Punishment by being obliged to resign his PMship appears to be not enough. He is still wreaking havoc here and there. Damn.
Toleh kiri hilang duit, toleh kanan hilang duit, bile nake hilang negri????
ReplyDeleteMAS dah jadi MASIN.
ReplyDeleteIbrahim Badawi? All the time I thought it was Berahim the instant curry man, a true entrepreneur.
ReplyDeleteBaik jugak kita suruh Paul the Octopus jaga MAS. Bole untung, elok tukar nama kepada Malaysia Ada Sotong (mas)
ReplyDeleteDid you know that LSG-Brahim supply to MAS based on 100 per cent occupancy ratio. Meaning if an airline got 300 seats they supply for 300 people, even if there is only ten people who bought the seats. Org dalam pasti call dan cakap lah, bang supply utk 20 cukop ari ni, tapi MAS kena bil utk 300 org. ENAKKAN?
ReplyDeleteRocky = Selective
ReplyDeletebila MAS ada untung ??? selagi dikuasai UMNO, untung pon jadi rugi !!
ReplyDeleteDato',
ReplyDeleteWhatever happen to the Business Turnaround Plan (BTP 1) and Business Transformation Plan (BTP 2) that was introduced by Dato' Seri Idris Jala when he took over the helm of MAS previously? Is it still being practised or has it become history?
The BTP 2 clearly states the following:
The MAS Way continues to be the guiding principle. However, to achieve the Five Star Value Carrier (FSVC) vision, Malaysia Airlines must reinvent itself and take 5 bold steps that make up the FSVC Virtuous Cycle of Profitable Growth.
Step 1: 5-star products & services
Step 2: Lower costs
Step 3: Competitive fares
Step 4: Get more customers, more revenue
Step 5: Grow network, build capacity
Well, the excuse of wrongly hedging its fuel is definitely unacceptable. How can this happen? It is just unbelievable! Fuel is a pertinent operating cost that needs to be carefully planned. Those in MAS responsible for flight operations have the required experience and qualifications! It is just absurd.
On the same note MAS can argue that it has its CSR routes to operate, but what is the percentage as compared to the total flight operations?
Believe MAS has to relook at its cost control measures without having to sacrifice its service. Definitely MAS would need to review and evaluate its contarct with LSG Sky Chefs! Granted that MAS now has its Cabin Crew on a 5 year contract, a good move as MAS can save on a lot of costs.
Didnt AJ come up with another turnaround plan? Too many times turning around has got the company turning in circles. Looks like its always back to square one... eh circle..
DeleteWah Sadasivan, klu satu company dapat rm10,000 gaji sebulan, hang mesti dapat lebih RM60,000 sebulan. Koa koa lu hantam'ah
ReplyDeleteLatuk Locky:
ReplyDeleteWhy don't you mention the Widespread Asset Unbundling (WAU) exercise proposed by Binafikir and accepted by the MOF ? WAU made Azman Mokhtar and Denny famous....but then MAS reversed the WAU and is now demanding to buy aircraft in its own name. It is an open admission that the recommendations of Binafikir were wrong, but then Azman Mokhtar went on to become Khazanah boss, and Denny went on to become Maybank Investment Bank boss (he's since resigned).
MAS like all GLCs is a football to be kicked around by the BN politicians whenever it suited them. That's why it could never succeed.
Godfather
Aduh, si bodoh kena liwat lagi oleh Rocky.
ReplyDeleteSadasivan, next PRESIDENT of MIC. Already taking over MAIKA with Ganalingam.
ReplyDeleteSIA is worth about RM40 billion and MAS about RM7.2 billion. Dulu SIA tu anak syarikat MAS. Apo nake dikato!!!!! MAS naik bahsikal aje lah.
ReplyDeleteTengku Azmil Zahruddin dapat beli 11.88 juta saham MAS,sebab depa tu pandai hedging, sampei MAS tenggelam dlm kerugian. Kalau MAS untung, agaknya ape pulak Tengku Azmil Zahruddin akan dapat?
ReplyDeleteN. Sadasivan was chairman of Kenmark in 1999, when Ishak Ismail was executive director of Kenmark. Apa lagi nak cakap? SAH budak Anwar.
ReplyDeleteAbdullah Badawi ni diam-diam lepu, orang nampak Tun Dr Mahathir jahat, padahal sekarang ni kita tahu, mana baik dan mana yang buruk!
ReplyDeleteEverytime a GLC collapses or suffers heavy losses, the blame falls squarely on Bumis. I think there are many Bumis who can do a better job than the ones who are flunking their tests. Nepotism and opacity are the two biggest barriers to Bumis' success trajaectory.
ReplyDeleteMAS run by racist Ketuanan UMNOputras with very little grey matter between the year. Core expertise revolves around kontrak and projek to enrich self and cronies
ReplyDeleteSIA run by professionals who care as to whether SIA is well run simply because these professionals have a hard won reputation as creators of wealth to maintain.
MAS executives do not give a shit because they got to run MAS as a birthright of UMNOputras/Perkosaputras. UMNO and Perkosa should go on screaming bloody murder and threatening the non-Malays after all it is their birthright to do so. These people even managed to destroy Sime Darby which was the bluest of the blue chips in Malaysia.
UMNO/Perkosa really Fuc'[.g Malaysia Boleh. Oh! Another birthright here.
muahahaaa
ReplyDeletethis is so funny.
why? Malaysia's national carrier can actually LOSE money? yeah yeah...they lost money before but haven't any of the top guns in MAS learnt anything?
Anyone still buying million dollar paintings to adorn their office?
Tht MAS catering deal Pak lah's brother's got since God-knows-when should be checked...come on NEPOTISM...conflict of interest!
BASIC-lah.
they're all milking the airline-lah...
give MAS to someone who knows how to run an airline-lah. also someone with integrity.
nstman,
ReplyDeleteThe Bumiputrass, whatever the phrase may mean is not to be blamed. ALL heads of GLCs are UMNOputras/Perkosaputras. Therefore, only UMNO and Perkosa are to be blamed.
MAS should be bought over by Petronas lock stock and barrel. Then Petronas style Management can make sure all this Bangsawan Melayus and those connected to these Bangsawans Melayus like the Take or pay Caterer and members of the BOD and Senior Management be thrown out for bastardizing the NEP and giving us Malay/Bumis a bad name.
ReplyDeleteAlso happy to see nstman(5:03pm) writing something I can finally agree with:
"Everytime a GLC collapses or suffers heavy losses, the blame falls squarely on Bumis. I think there are many Bumis who can do a better job than the ones who are flunking their tests. Nepotism and opacity are the two biggest barriers to Bumis' success trajaectory"
I know for a fact that there are many ordinary non bangsawan malays who can do a hell of a better job than these bangsawan clowns.
Rilek lah beb. MAS mana ADA sistem?
ReplyDeleteKalau Abdulah ada Brahim,Sadasivan pulak ada LINGAM.
ReplyDeleteAfter MAS, whats next SIME DARBY???? GLC- Gobermen losing CASH.
ReplyDeleteChew Choong Seng, ceo SIA selalu main gasing dgn MAS, sampai MAS jadi Masam dan Masin.
ReplyDeleteWhat the f*ck? Is it not true that MAS has been bleeding for decades. Don't be an asshole blaming on Badawi. Blame it on NEP. Blame it on UMNO. Do the Malays care? If they do care, UMNO will by rite, be dumped like dirty gabbage.
ReplyDeleteI believe the CEO of Singapore Airlines has taken early retirement after guiding them through the recession to record profits.
ReplyDeleteIf Najib was smart he would hire him asap!
50 juta dlm tiga bulan. Setahun RM200 juta. Katakanlah, LSG Sky Chefs beri 10 peratos kat Ibrahim Badawi. RM20 juta setahun. Kalau x silap, dah enam tahun dah, kontrek ni berlarotan. Maksodnya, Ibrahim Badawi dah untung RM120 juta. Ni blm tambah lagi untung dari kontrek membekal makanan tentera darat Msia. Mana adil, muka mcm kereta direngop lori, untung buta.
ReplyDeleteMAS is a GLC. It is Gingerly Losing Cash. And to SPIT on rakyats face MAS has given its CEO a 11 mil share option. What the F for? This guy should be SACKED.
ReplyDeleteAll the GLC' have the same ole faces, the same ole names. And they suffer the same ole losses, while the GLC' bosses live in the same old large mansions, and have drivers to drive the same old most expensive BMW's in town. NOTHING changes.
ReplyDeleteSatu pandai dalam bodoh dan satu bodoh dalam pandai..
ReplyDeleteKutty dan sleeping beaty lebih kurang ja.. Tapi kutty lebih bijak lah ...kata orang tikam tanpa darah.
Apa pun- ada kaitan dengan mee segera cap ummm...nooo lah.
bujang lapuk.
Well done, Bru... about time you whack MAS kaw kaw esp Munir and Sada, the rent seekers.
ReplyDeleteFor more reasons why MAS failed esp. after WAU, please read articles below.
Before this announcement, many MAS staff asks Little Bird on MAS performance. Diplomatically, Little Bird ask the staff to a look around them and see whether thee is any slightest improvement and that will be the answer.
The solution:
To save MAS, many heads must roll and Little Bird has the list of candidates.
http://www.mmail.com.my/content/38500-tan-sri-abdul-aziz-abdul-rahman-urgent-need-air-transport-policy
http://www.mmail.com.my/content/42338-tourism-challenge
Little Bird
We can see Munir Majid in National Mosque every Friday and he really bend very much when kirim salam to VIPs who comeby...Despite multi million losses, these idiots Munir Majid and Sadasivam are still around! What a shame...
ReplyDeletewhat about other companies, MM, NST, Media, MRCB, Telekom, Tenaga......all gaji buta kut
ReplyDeleteNo innovative but rather bring in their own cronies and enjoy the pay as long as possible. Most of these companies are monopolies in Msia, and yet there cant produce good results.If we all look into the mirror and be really honest, we will realize what a mess we are in, and what hypocrites we are. Sometimes ot is really hard to believe there is a God, when we see all these things happening in Msia. Why bother of the other parts of the world when we have these things happening here, corruption, murder, baby dumping, rape, cheating, acid throwing, fitnah, political shame...??
VAN
MAS is the only GLC company with so many people seating on board member.Some of them are totally useless.
ReplyDeleteMajor shareholder MAS is no other than KHAZANAH NASIONAL BERHAD, headed by supermoron, Azman Mokhtar. It's about time to resign ler mangkuk!
ReplyDeleteBiasalah tu, kalau dah orang UMNO dan melayu jaga, mana ada syarikat untung.Mereka yang kaut untung kah..kah..kah....sebab itu mesti ada perubahan bro.....Janganlah kita asyik bersikap "in denial" tentang keadaan ini.
ReplyDeleteMunir Majid only bijak in making MAS spend millions to buy painting. Why is the government keeping him still in MAS? The deputy chairman Sadis, sits on board of so many govt entities, he must either be a brilliant guy or Msia's greatest arse licker. Btw, he is also chairman of MAS Cargo. The MAS CEO, the Tengku, why is the government keeping him? And all these 3 jokers got an Indian guy running the PR show for MAS. This guy is dark, ugly and smelly. Why is MAS keeping him? As for the MAS Catering contract, I believe Kalimullah and Nor Mohd Yacob know something more than ordinary people abt it. As for Abdullah Badawi, my only wish if there is a next life, he will be born a Singaporean.
ReplyDeleteVinnan, u are a racist. If u'er an Indian, go back to India. If u'er a Chinese go back to China. If u'er a Malay, get out of Malay sia. Btw, Vinnan since you seem to like the word PERKOSA, I hope you shall soon be on the receiving side of it.
ReplyDeleteRocky,
ReplyDeleteLu ada dengar cerita Skim cepat kaya by "invitation only". Return 30% wooo
Depa jual quota seat somebody untuk 1st class dalam MAS ( yg selalu kosong tu ) untuk international route especially pi London. Kasi investigate sikit. Satu teket RM50k on paper, tapi kasi jual diskaun 25% kat certain people.
BTW
MAS ni dah teruk lepas zaman Tan Sri Aziz menerajui MAS dulu.
Aku rasa kena bawak masuk Tan Sri Aziz semula ganti Munir Majid and co.
Dollah boleh jadi advisor tapi tak payah elaun pun. Bagi dia teket free pergi Perth 2 tahun sekali pun dia dah suka.
My eyes keep going to your younger profile pic. haha cayala bro.
ReplyDeleteThe smelly dark ugly INDIAN PR at MAS must be Anbarasu.S or also known as Arasu. He is a racist who speaks ill of Malays.
ReplyDeleteIbrahim Badawi, syabas!!! and memang hebat, gemilang, cemerlang dan terbilang. Abang hang dah tembeling satu MALAYA.
ReplyDeleteMAS - Mengulum Airmani SIA.
ReplyDeleteKelakuan dan cara orang melayu membuat sesuatu perkerjaan seperti di MAS itu MEMALUKAN.
ReplyDeleteAbdullah Bedawai bukan sahaja mengecewakan ramai orang juga banyak merugikan negara ini.
Cuba panggil pakar suruh buat penilian tentang kesan2 buruk yang telah belaku dan di tinggalkan.
Menang Sorak kg. tergadai.
Sikit hari nanti MCA Tikam Depan2.
Melayu dah hilang maruah lama dah.
Saya dpt tahu Kontrak supply daging beku kpd seluruh angkatan tentera satu Malaysia ini di monopolikan olih Ibrahim Badawi.
ReplyDeleteIni berlaku sebaik sahaja Abdullah jadi PM.
Ini business beribu juta ringgit kononya selama 15 tahun dia pegang.
Pengusaha lain gulung tikar.
Manusia macam mana DIA ORANG NI?
MACC tak nak chek lansung ke?
Harga pasar telor satu biji 50sen, kasi supply itu MAS RM2.00, how to make money like that?
ReplyDeleteRakyat jelita Malaysia kena "sodomised" inside out by this crooked Company, Master Anal Sodomy!
ReplyDeletePile of vultures feed on the MAS carcass which is infested by worms, slugs, leeches and all the low lives.
ReplyDeleteJust shut it down and exterminate all these low lives.
First and foremost, as the CEO, I take full responsibility for the 2Q10 results.
ReplyDeleteFor MAS, the 2nd quarter has always been our weakest quarter and this was further aggravated by higher fuel prices during 2Q10. The average price of jet fuel was USD89.7 per barrel in 2Q10 compared to USD66.7 per barrel in 2Q09.
Whilst we are burdened with the additional fuel costs due to higher prices, the new FRS139 accounting standards which all Malaysian companies have adopted by January 2010, also meant we were hit by paper losses on our hedging instruments due to oil price volatility.
While some have said we would be better off without the hedging, I see it as a form of insurance against the risk of higher fuel prices. It has been barely 2 years since jet fuel rallied to a high of USD180 per barrel. Fuel forms one of the biggest costs for us as an airline, so we simply cannot afford to run unprotected against the risk of even higher fuel prices. Despite seeing the fuel prices dipping now and then, we see a clear and steady trend for fuel prices moving upwards.
Also, if you looked at our results more closely, you would be able to see that we have improved on all operating measures. We carried 18% more passengers, we increased our capacity by 5%, we saw higher revenues and we continue to contain our costs. In fact, our operating losses were a 33% improvement compared to last year, and this takes into account that the fuel prices went up by 44%.
On the subject of my share options, I would like to explain that MAS launched the ESOS scheme in 2007, covering all eligible employees. When I took over as CEO, the decision was made to replace my previous ESOS with a new one to reflect the greater responsibility. However, note that the number of shares granted is dependent on my performance which is tied to the company’s KPIs. In addition, the minimum exercise price was set to be a 20% premium to the share price at the time. This is unusual, as many companies issue share options at zero premium or at a small discount. This means that I will not make any financial gains unless the share price first went up by 20%. Unless MAS performs very well, I do not gain anything from the share options.
Moving forward, there’s no denying there are challenges ahead. We are continuously looking to improve and we remain optimistic about the rest of the year.
Tengku Azmil Zahruddin
Managing Director/CEO
Malaysia Airlines
Who the hell is this India?
ReplyDeleteThe letter from Tengku is a very superficial response.
ReplyDeletePerhaps he would like to inform the tax-paying Malaysian public how he intends to 'improve',i.e. what measures will be taken or he intends to take moving forward , which includes reducing operational costs. For example: does he intend to minimise wastage in form of highly paid executives who contribute nothing to the performance of MAS?
Malaysian public is educated and deserve to be informed intelligently. Patronising us will not win any favours for the Government, especially to the still 'undecided' Malays who can really make a difference in the next election.
Bravo tengku. You do have the balls....
ReplyDeleteshalela
Bravo Tengku.
ReplyDeletePeople don't understand hedging and the new IFRS requires it to be valued. For those that don't understand it, let me give a simple explanation:
Let's say "A" agrees to buy 10 eggs from "B" in 10 days time at a price of RM2.00. "A" is now certain that the price of 10 eggs in 10 days time is RM2. So he book the cost of RM2.
Come 9 days time (1 day before deal date), the market price of 10 eggs is now RM1.50. According to accounting standards, MAS must recognise RM0.50 losses. Now, have "A" lost anything - no, "A" only agreed to pay RM2 for 10 eggs. On day 10, "A" will recognise the balance RM1.5 as cost, hence its total cost is RM2. What "A" has simply done, is to fix his cost to prevent him from being hit by the risk of market fluctuation. That is prudent.
Mira
Sorry TAZ, I am not able to buy your explanations. To start with, fuel hedging is DEFINITELY NOT a form of insurance.
ReplyDeleteInsurance is designed to protect the financial well-being of an individual, company or other entity in the case of unexpected loss in exchange for payments from the insured (called premiums).
A fuel hedge contract commits an airline to paying a pre-determined price for future jet fuel purchases.
One charges small premiums while the other charges a pre-determined price and I do not see any similarities between these two.
“We carried 18% more passengers, we increased our capacity by 5%, we saw higher revenues and we continue to contain our costs” is another confusing statement. Simple accounting will tell you that revenue in excess of expenses will produce profit. You can further increase the profit margin by just reducing 5% of the annual RM 15 billions costs (i.e. RM 750 000 000) by eliminating the many various wastages and leakages which is synonymous with MAS (as acknowledged by former Chairman , the late Tan Sri Azizan)
I also understand that you inherited the fuel hedge problem from Jala but at the same time you should not even try to defend it.
If need be, I will publish the list of leakages and wastages in MAS soon.
Me,
The Troubleshooter.
The indian guy is the nominee of the MIC/Samy into all the GLC's and listed companies as this is a controlled item for BN. He collects the directors fee and past it on to his boss with a small cut for his services! This scam has been going on for years.
ReplyDeleteYbhg Managing Director/CEO
ReplyDeleteMalaysia Airlines
1. Thanks for enlightening us with your explanation about MAS' financial position. Being a professional accountant myself, I cannot agree more with a fellow colleague's explanation on the accounting technicalities. Well done job!
2. However, lets get back to the business basics. Today, Air Asia announced their quarterly results which I believed is by far and large better than MAS' results. Air Asia is in the same business sector with MAS and they manage to overcome all the issues mentioned by you like fuel hedging, costs structure etc. Well, at least they are not affected financilay by the fuel hedging issues.
Why is that so Mr. Managing Director? Any single point that we can look at in order to improve your organization' performance moving forward?
Bro Rocky,
ReplyDeleteIf you want to turn the fortune that would be easy, Pak Lah to advice SIA and LKY to advice MAS.
But again would your Perkasa Ibrahim Ali the dog agree?
Well said, Anon 8:16 pm
ReplyDeleteYes, Azmil, please do not patronize us.
Perhaps Azmil would like to come clean on the blunder below:
“The Star, April 16, 2009 _MAS with RM3.57bil surplus cash eyeing to buy another airline_By TEE LIN SAY"
Just 8 months later, from a surplus of RM 3.57 billion cash to buy another airline, they need RM 2.67billions to partly buy new planes.
“New Straits Times December 12, 2009_ MALAYSIA Airlines (MAS) is planning to raise RM2.67 billion through a rights issue to partly fund the purchase of new planes_by Jeeva Arulampalam”
Oh well, maybe we Malaysians are that blind and stupid?
Little Bird
AirAsia Bhd’s net profit jumped 43% to RM198.9mil for the second quarter ended June 30, from RM139.2mil a year ago, on the back of strong growth in passenger volumes, ancillary income and higher average fares.
ReplyDeleteIts revenue for the quarter was 26% higher at RM940.6mil from RM747.9mil a year ago. It reported earnings per share of 7.2 sen versus 5.9 sen a year ago.
For the six months ended June 30, AirAsia posted a net profit of RM423mil on revenue of RM1.82bil.
Dear TAZ, how come Airasia registered a profit in the second quarter?
ReplyDeleteYou have been whinning all week on how the second quarter is traditionally the weakest quarter for MAS.
Fair enough, though obviously you have not done much to turn it around?Is that not the job of a CEO?
Can you explain to us, why is there a need for BRAHIM to be in the LSG SKYCHEFS-MAS JV? Makan untung buta kah???
I understand that the SIA CEO took a pay you, did you to TAZ?
TAZ, you have spoken on lenghth about your ESOS. You wrote that you have to buy the ESOS shares at 20 per cent premium, and only if the shares go up by 20 per cent, you stand to make a PROFIT.
Hello bruder, that is NOT a PROFIT, that is called BREAKING EVEN (tak untung, tak rugi).Itu pun you tak tau, nak jadi CEO MAS. Lu belajar ilmu hisab dari siapa ... Anwar Ibrahim kah?
Its me Boss.
Tengku Azmil, baik koa letak jawatan, dari makan gaji buta dgn Aarasu.
ReplyDeleteMANSOHKAN KONTRAK LSG Sky Chefs-Brahim Sdn Bhd dgn SEGERA. Heret Ibrahim Badawi ke makamah. Tengku Aznil, belajar dari Rozman Omar macam mana Airasia pandai urus syarikat. Tengku, koa PATUT diPECAT.
ReplyDeleteTAZ,
ReplyDeleteFuel hedging is not a bad thing if done properly. The issue is whether you actually have the right people doing the job for MAS. You can have a multiple hedging policy of which you may have a long term position, mid, short term and also spot purchases. The percentages of each would depend on understanding of the movement of crude oil pricing and refinery margins that affect directly the price you pay for your fuel consumption.
I can tell you that being an oil and gas person, the current price of crude at between the range of USD 60 - 80 is about right if there is no speculative element because you have to equate the "real" price of crude oil to its unit rate production cost. At this price and based on the global production of oil today, the requirement for you to hedge long term is not that necessary for the bulk of your fuel, as the market rate is relatively stable.
But you must know what is "cheap oil" If the price is down trending and hits the USD 60 range, then you may want to hedge and buy more as the oil and gas majors will definitely want to move the price range higher towards the upper side of what I consider the 60-80 band range. Fuel hedging is like buying in the stock market, you must know when to buy forward positions when you are fairly certain of the upward trend and not some speculative chart that financial people tell you because all businesses are still run largely through its fundamentals of supply and demand. It's only the financial people who create all this derivatives and speculative fears as that's how they make money on an organisation's inablity to manage its own fundamental business operation. So get the right people for the right job.
This is really a sicko mentality. WTF happenning with Malaysian shareholders or government of the day? Do they have a dead brain or an IQ of lesser of a retard (sorry, but I do have some respect with the real retards. At least they are not bloodsuckers like the BOD of MAS)? Get real. If these jokers really want to waste hard earned money, why don't they just go to Genting? Why bother to do business at all?
ReplyDeleteThis is really a sicko mentality. WTF happenning with Malaysian shareholders or government of the day? Do they have a dead brain or an IQ of lesser of a retard (sorry, but I do have some respect to the real retards. At least they are not bloodsuckers)? Get real. If these really want to waste hard money, why do you just go to Genting? Why bother to do business at all?
ReplyDeleteTAZ,
ReplyDeleteif u really meant what u said .....
"First and foremost, as the CEO, I take full responsibility for the 2Q10 results", ...
why dont u just resigned NOW instead of bitching about 2q has always been the weakest quarter for MAS? Macam nie semua CEO GLCs boley bagi the same excuse.
So, next time if say Sime Darby ka, or Proton, UEM, etc, registered poor quarterly results, the CEO will response by making a no-brainer statement "First and foremost, as the CEO, I take full responsibility for poor results. But bear in mind the reporting quarter has always been our weakest performance."
Kecik kecik tak nak mampus, dah jadik CEO menyusahkan shareholders!
Tengku,
ReplyDeleteKau kata "moving forward....we continously looking to improve and we remain optimistic for the rest of the year".
So, if over the next 2 quarters there's still no improvement in the financial numbers, and year-on-year still no-better than the previous year, can we expect immediate resignation from you as well a big apology from you to the public for being an ARSEHOLE not able to deliver what u are supposed to?
p/s Are you Tengku or Tunggul? If you want to be remembered as Tunggul, you can continue giving the public your crappy excuses blaming fuel prices and everything else except your own stupidity!
Spot on, Anon 11:44 am and all.
ReplyDelete"But you must know what is "cheap oil" If the price is down trending and hits the USD 60 range, then you may want to hedge and buy more as the oil..."
The strategy is "Buy low, sell high" but Jala and gang buy fuel high, sell ticket low.
Actually, the whole top management and BOD including Munir, Sada, Azmil should be removed with Jala last year but sadly the people in power are either stupid, guilty or worst, both stupid and guilty. So, please TAZ, do not insult our intelligence.
But Kawan kawan, do not be conned by Air Asia profit announcement, the truth and bigger scandal will soon surface when we have a new PM.
Air Asia is a hot cradle for money laundering and TF is one cunning conman who can sell ice to the Eskimos, Disneyland to Walts Disney and Virgins to Richard Branson.
He even said publicly in London last year that he knows Malaysians very well and they are willing to risk their lives if the airfares are cheap.
CON AIR
Anything to do with Ahmad Badawi is certaintly and surely to be a big failure and big gain to his family members... this is how they get richer doing business in MAS whilst he is the MAS advisor. Mana boleh dia kerja ... he sleep walking and let others to rake millions under his nose. Even the MACC formation under his time as PM also is a big time failure. In fact it got worse and waste of public funds... day light dracula!!
ReplyDeleteI note that intrepid posters such as Warrior, Perwira etc have chosen to stay silent on this topic. Why, I wonder?
ReplyDeletePerhaps it's because they realize that comparing MAS & SIA is like matching a kampung bicycle against a slick well-oiled Ferrari.
Or perhaps because Temasek has better oversight on SIA?
The fact that Mas suffered heavy losses every now and then is because they are over staff.
ReplyDelete1.Airlines around the world have already gone into self check-in. Look at the picture in this link http://www.check-in.aero/2010/08/air-new-zealand-highlights-value-of-a-successful-self-service-strategy/
For instant,Auckland airport, check in counters were dismantled & replaced by over 30 check in kiosks- You check in yourself, get yr boarding pass and baggage label and drop your bag at the conveyor belt.Simple and no queue.Only a few staff were on standby to give assistance. MAS employs thousands of staff to do the check in. At the boarding gate, the boarding passes are printed with bar-code, all the passengers need to do is "Touch and Board" the aircraft. There is no need for other staff to key in the seat numbers individually to determine if all the passengers have boarded.( So you save manpower and time at the departure too).
2. Domestic flights in NZ and Australia as well as Europe and US are operated on all economy class. Only 3 cabin crew suffice for a 737 aircraft but MAS 737 requires 5 cabin crew.
The problem with Mas is that it is always the last to implement cost cutting procedures. Even Air Asia is very much advance in its cost management. Their staff are multifunctional and hard working. It does not require an expert to differentiate why Air Asia is making money when mas is not.
The MAS Ceo is a certified IDIOT.
ReplyDeleteCON AIR
ReplyDeleteWhich means the likes of Tiger Airways, Jetstar, Virgin Blue, Ryanair and Southwest Airlines are all con games too?
Quick question: how many CEOs has MAS gone through since it split off from Malaysia-Singapore Airlines? Ditto for SIA?
Yes, Azmil should come clean and do the right thing.
ReplyDeleteOtherwise, he will go down as the worst MAS MD ever, a very public humiliation and a stigma he can never shake.
The Authority should act fast before the damage becomes unrepairable.
Skilganon,
ReplyDeleteDo you think other LCC in other country could get away without paying airport tax and parking charges... only in Bolehland when the MoT is also the Minister of Air Asia and EPF the Bank for Air Asia.
Inclusive of WAU in 2002 and RM 2.7 billions rights issue in 2010, MAS has been bailed out 4 times, each time with new MD.
Source: Malaysiakini 29 January 2009
Q&A: Fernandes pours out his frustrations
In terms of bailout, we've seen a lot of that. The entire banking industry in America (was bailed out) and America is virtually a socialist economy now. So it is all about if you have faith in a company and its ability to manage itself. I can't guarantee you that this is the case. But I'll just let our track record speak for itself. MAS has been bailed out three times.”
CON AIR
Bailed out or not, this CEO and Arasu are IDIOTs
ReplyDeleteThis is taken from
ReplyDeletehttp://malaysia-today.net/mtcolumns/34006-the-police-and-ag-chambers-colliuded-to-cover-the-fraud#comments
We shall expose all these idiot, weak and dirty leaders, bit by bit.
"This arsehole Idris Jala cost me my marriage - I was once an employee of MAS in the '80s in Malaysia before TR time, then I again became MAS employee again in he early '90s in TR's time and actually saw him strutting his stuff - he was a frequent visitor in my part of the world i.e. west .... I half guess he was upto no good - ignored him ..kept my head down for my monthly wage packet . My 2nd time employment with MAS in the WEST only lasted 9 months (By now I was a University Graduate and could SEE all that was going wrong and did NOT want to have anything to do with MAS ( my patriotic feeling were at MINUS level) for I saw MAS in TR days as a shit hole. Every body was at it - milking MAS for what it was. FISH rots from the HEAD.
I left MAS and could not be bothered if it went into oblivion. Missus continued working and cause she was so much younger than me, she still felt it was her PATRIOTIC duty to expose and save MAS .. She had many many many clandestine meetings with IDRIS JALA. tens/hundreds of documents were disclosed / handed to him in meetings in PUBS/Restaurants - phone calls were made/exchanged with his elite/secret operations team.
Like always in Malaysia Boleh, the whistleblower is sacrificed. The CROOKS were left to continue as if nothing happened, in fact they got promoted and rewarded with Datukship's even though they were OVERSEAS Malaysian residents from the royal households who frequent the west.
Account department in any ORGANISATION is kept close to the ORGANISATION heart. If an ORGANISATION was going to outsource , it will OUTSOURCE other divisions BAR the ACCOUNT DIVISION to a 3rd party. MAS in its overseas division in the WEST, jewel in thier crown (you the reader can guess) has OUTSOURCE thier ACCOUNTS Division to a COUNTRY in the EASTERN BLOC of EUROPE. They now simply RUBBER STAMP every IN/OUT. MAS employed ACCOUNTS staff usually were predominantly Malaysian and they were MORE than OFTEN Questioned DUBIOUS TRANSACTIONS - By OUTSOURCING to the Eastern Bloc countries, this CHECK and BALANCE is NOW removed.. GUESS WHAT.. MY WIFE WHO SPENT MANY MANY HOURS GIVING IDRIS JALA WHAT HE NEEDED TO KNOW WHEN HE TOOK OVER MAS CAUSED ME TO GO HUNGRY AND MY EXPECTED FXXK.
IDRIS JALA USED HIS STAFF - then ditched them to the LOCAL WOLVES. Wife LOST HER JOB , I LOST MY WIFE ( due to hours of bickering - she was on a crusade to stop MAS from beng robbed/looted.. I did not give a FxxK for I knew that it was way above our head = when the ELITE are involved, what are we - commoners).. This shit cause me a lot. I pray one day to see justice done.. it will give me some relieve - in compensation for my broken marriage and all the shit that goes with it,
PISSED PEOPLE POWER
You can START by Investigating DATO Bernard.
ReplyDeleteBlatant abuse of power!
ReplyDeleteA very public humiliation for the guilty ones.
LET'S EXPOSE THEM KAW KAW!
Are you talking about Dato Bernand Francis, who was detained breifly by MAS Internal investigators for selling company flight route secrets? I think, the blogger APANAMA knows details about this guy. His wife, or should I say now ex wife, was a big shot DATIN in FOX Communications during Kali, Brendan and Bodowi's reign of slumber and plunder.
ReplyDeleteDj Reme
Sadasivan and si pengerusi saban hari merogol MAS.
ReplyDeleteThank you RPK and Rocky Bru for exposing MAS.
ReplyDeleteNevertheless, I feel the current management cannot put the blame solely on TR since the damage has been done more than 10 years ago.
The fact that they have not fixed MAS main problem i.e. the overpaid, long serving, incompetent and ignorant staff only proves that the current Top management and BOD are in the same boat. These do not bode well with the Government of the day i.e. The Executive and the Top civil servants i.e IGP, MACC and AG.
2 Sen.
Bernard Francis is one of Idris Jala's boys. He was kicked out from AIR ASIA for trying to set up his own Airline with help from Canada's bombardier. If ever there was an Indian snake, Bernard is the one. Highly corrupt. He sold MAS secrets to rivals, and was caught in the ACT, Was transfered out, merely to head another division. Which reminds me, it really doesnt matter if you are Malay, Chinese or Indian, as long as you are a crony, everything you do will be swept under the carpet.
ReplyDeleteHi anon 9:51,
ReplyDeleteAre you sure Bernard was kicked out from Air Asia or planted in MAS to cause further destruction.
Perkasa, please do something, like petition to Agung since it affect our soverignity ... lost hope with Najib oredi.
Mangkuk betul!
Taken from
ReplyDeletehttp://www.malaysia-today.net/mtcolumns/34119-now-lets-see-how-else-mas-was-plundered#comments
written by Motherchell, August 28, 2010 02:45:50
"My heart goes out to the MAS employees! They must have run home to say how proud they were when their kids asked them of their place of work. Their inquisitiveness about flying everytime they heard the word EMAS. Their innocence was stabbed daily with the way BADAWI and Tajuddin raped MAS like there was no tomorrow. The little ones didn't realize the so called father figures running the Country's National Airline were actually economic murderers and thieves. "
If I am one of the 21,000 staff, I would be very ashamed for makan gaji buta and being so IGNORANT to allow this to happen.
seolferwolf??
ReplyDeletetwo of a kind? hello skilmoron..again with your schizophrenic multiple identity shit?? it must be a lunatic blue moon cycle now ,no? ahh..full moon indeed, passed 15 Ramadhan already..
sudah makan ubat gilababi lu belum apek..?? Aiyahh, you miss the course, eh?
a newcomer won't obviously jump out of nowhere pointing gun barrel at specific targets..
Pure LKY/S'pore asshollickans in each serving menu..so typical trait..
Pathetically cheap!
stupid chingkie..
:D muhahahaha
-anti hindraf & ultra chingkies-
A year ago, on 12.6.09, it was said that "On the company's current financial position, CFO Azmil said its cash balance remained strong. Although the company saw negative shareholder funds of MYR459 million at the end of March, this was now positive at MYR690 million, Azmil said.
ReplyDeleteAzmil said MAS received a one-year waiver from Bursa Malaysia from being listed as a distressed company under the stock exchange's Practice Note 17 - even if it has negative shareholder funds at any time this year.
"We also don't need to raise funds," Azmil said."
Now, lu pikirlah sendiri.
2sen
Inilah balanya bila letak orang muda yang takde pengalaman sebagai ketua, orang pencen yang kaki kelentung dan kaki bodek ( termasuk Martin Barrow yang banyak bawak masuk con sultan asing tapi semua kantol walau bayar ratusan juta) sebagai penjaga BOD, ini semua resipi kearah kehancuran.
ReplyDeleteBye, bye MAS !!!
RIP.
It has become common practice for former Prime Ministers to be made Advisers to GLCs. Tun Hussein Onn was Adviser of PETRONAS. Tun Mahathir is Adviser to PETRONAS and PROTON. Not to be left out, Badawi too insisted to be made an Adviser to MAS. Isn’t this a clear conflict of interest when his family is having a vested interest in MAS Catering? In analysis, only Tunku Abdul Rahman, the father of Malaysian Independence, retired from his post without any advisory role. Therein lies the difference between these men. I think we should discontinue this practice. It appears that Badawi wants to be MAS Adviser just to enjoy First Class travel, to enjoy First Class perks and to protect his family’s interest. That is very repulsive.
ReplyDeleteBoth Mahathir and Badawi who are already well compensated for their services (more of a disservice, I think) to our country must be asked to step down or removed if they are not prepared to do it of their own accord. Prime Minister Najib should remove them to avoid conflicts of interest or risk inciting public anger.
Well said Dino.
KPIs and all that are pure nonsense.See how it is manipulated in the GLCs.
ReplyDeleteMAS is bleeding..yet every1 meet their KPIs.Sime mgmt team still enjoying KPI fueled bonuses.
1M=3H,Hapless, hopeless and helpless
Anon 7.22, yes I am aware that Bernard Francis sold MAS secrets to Airasia. I think you are too.. That being the case, if both of us are aware, how come the authorities arent?
ReplyDeleteA lot of hanky panky is going on in MAS because Sepp Blatter is in charge of the SC, Bursa, MACC, income tax department and so on.
ReplyDeleteYes, kawan kawan, MAS is being con by a lot of pundek or semi pundek - munir, sada, kali, nor yaakop, tony fernandez, bernard, arasu, u name it semua related.
ReplyDeleteI pundek.
1 pundek, you are spot on but do not forget the external man. The one they call ERIC. Chinese by orgin. His time is coming sooner rather than latter.
ReplyDeletemust be law's son, who is also a proxy for KJ and Bodowi.
ReplyDelete"Bakke’s brief is to put the house in order, fix the leaks, get rid of the naughty guys, marshall the troops, motivate everyone and move Sime Darby forward."
ReplyDeleteWell said, Syed. This is exactly what MAS needs.
Slash & Burn
Munir and Azmil,
ReplyDeleteYou have been given many opportunity to buck up but you have failed miserably.
Time for you to pack up or more "dirt" will hit the fan, think Zubir Murshid and TR.
Slash & Burn
Munir and Azmil will not leave coz, why should they when they can milk the company with impunity, and claim incompetence latter.
ReplyDeleteAll these exposures are very good, keep the hammering, they know their days are numbered. Idiots have no place in this transparent cyberworld!
ReplyDeleteAnon 11:18, who is this Eric?
Anon 8:29, you are right, fat cows will not move, they have to be kicked out.
Slash & Burn
Eric's father is an ex minister.
ReplyDeleteMAS CEO must be SACKED. now now now now now now now now now now now now now now now now now.
ReplyDeleteSoon kawan kawan soon, as hinted below, the guilty ones will fall like deck of cards.
ReplyDelete“The desperation to defend a comrade was hastily carried out, using the Singapore network since The Malaysian Insider is no longer convincing enough. The call for Nor Mohamed to be thrown out from the Federal Government is getting more intense since the downfall of PM ‘Flip-Flop’ Abdullah.”
More details here
http://bigdogdotcom.wordpress.com/2010/09/06/riong-kali-defending-nmy/
Sometimes we need to be sarcastic, to be realistic when dealings with the idiotic who loves everything plastics (he,he,he ... I am getting very philosophical esp. very early morning)
ReplyDeleteBru, I do hope you expose MAS four bailouts only then we can see the common factor.
Abang Kassim.
But many do not realise is NMY was also on Tajudin's payroll. So was Kalimoola and one AAB. Check out who were Tajudin's advisors . You shall find Newfield Advisors. But like usual, they stabbed Tajudin in the back, and when Rafidah, refused to play a game to allow MAS parisheable to be sold to Brahim, after a guy named Bodo or something wrote a letter seeking an endorsment for the sale, her AP days were put to an end.
ReplyDeleteAnon 12:31, you were right. Few years back, Rafidah was slotted to be MAS Chairwoman.
ReplyDeleteOn hindsight, she could have make an excellent Corporate leader because she is a very decisive lady who knows how to take CHARGE and crack the whips on the many GAJI BUTA deadwoods.
MAS are being exposed to the knickers by M2day.
ReplyDeleteIt all started when the fine line between the executive and the civil service has been dismantled by unohu.
Mana dia slogan, berani kerana benar, takut kerana salah. I see a lot of pesalah yang penakut.
PEOPLE, THE BOSS.
All roads lead to Bodowee. Is this guy related to Namewee? Both are traitors in a different sence.
ReplyDeleteYes, kawan kawan, even UMNO BARU is being exposed to the knickers.
ReplyDeleteRemember, MAS is a splitting image of Malaysia: you lost control of MAS, you lost control of Malaysia.
PM must take the right action FAST by engaging the right people.
10 SEPTEMBER 2010
And, more importantly, it appears like the current Prime Minister, Najib Tun Razak, is giving his tacit approval for Tajudin Ramli, Rahman Maidin and Halim Saad to sing like a canary and finger Umno, Dr Mahathir and Tun Daim Zainuddin as the real rogues behind the plundering of billions of Ringgit of taxpayers’ money.—Raja Petra Kamarudin in his latest posting
http://uppercaise.wordpress.com/2010/09/08/battle-of-umno-billions/#more-7394
1 PEOPLE, THE BOSS.
yes, Tajudin has been given the green light, so it seems
ReplyDelete"Speaking of Airasia, Omar Ong was with Tony Fernandez and Kalimullah in London the week before Raya. There must be some mischievous plot and MAS looks to be gobbled up. There is more. Just watch this space." ABITW
ReplyDeleteYeap, very mischievous alright, remember " I know Malaysians very well," said Fernandes, a native of Malaysia. "If you put a fare low enough, they'll risk their lives," he said, as the crowd laughed.
Source: www.columbusdispatch.com/live/content/business/stories/2008/09/24/airline.html?sid=101
CON AIR
Tony is taking Airasia private and listing it in London. Kali have shares in Airasia. Thats all too it. Omar was there becoz the government is mulling to use Petronas to buyout Airasia and merge it with MAS, so all the fourth floor guys and fat MADAME can F up the merge entity by soaking it KERING KONTANG babe.
ReplyDeleteYeap, CON AIR.
ReplyDeleteThey have to sell MAS due to these three reasons:
1. They has lost hope in current management
2. They needs the cash
3. They need to save their own skins.
Tajudin Ramli, to make a press statement soon. Why did Malaysia have trips to South Africa and Argentina???? All will be revealed SOON.
ReplyDeleteA former Airline MD met TF at a travel fair and said that he salutes TF since AA made a lot of profits eventhough AA sells airfare at RM 1. TF smiled sheepishly and admitted something.
ReplyDeleteMore will be revealed SOON.
Anon 12:58, you are right... TR gonnaa sing like a canary soon.
ReplyDeletehttp://malaysia-today.net/mtcolumns/34745-shahidan-shafie-stripped-naked
PEOPLE, THE BOSS.
Oh my gawd. These going ons in MAS is worst than I thot. Just ripe for a takeover.
ReplyDeleteFATSO.
Way to go, Danny.
ReplyDeleteWhack MAS BoD kaw kaw esp. Munir, Sada and Barrow.
You know me and I will help you.
Saturday October 16, 2010
Rashdan appointed MAS director
PETALING JAYA: Khazanah Nasional Bhd executive director (investments) Mohammed Rashdan Mohd Yusof has been appointed a non-independent, non-executive director of Malaysian Airline System Bhd, the national carrier told Bursa Malaysia yesterday.
He was previously chief executive officer and director of Maybank Investment Bank Bhd.
The Troubleshooters.
WTF, they have been sleeping on the job and yet still around?
ReplyDeleteFriday October 22, 2010
AirAsia overtakes MAS in market cap
By DANNY YAP
danny@thestar.com.my
http://biz.thestar.com.my/news/story.asp?file=/2010/10/22/business/7276227&sec=business
Low-cost carrier flying high despite challenging times
KUALA LUMPUR: AirAsia Bhd, with a market capitalisation of RM7.6bil, has surpassed Malaysia Airlines’ (MAS) RM7.5bil, boosting the low-cost carrier’s share price to an all-time high of RM2.58 yesterday.
The share price of MAS closed at RM2.27.
For the three months ended Oct 21, AirAsia’s share price surged 46.9% or RM1.21, while MAS rose by 7.49% or 7.5 sen.
WWF
Further proof of sleeping on the job!
ReplyDelete"Two years have passed since the scheme was implemented by ex CEO Idris Jala with no signs of improvement in their income. Yet, the crew members who are hoping for these changes to take place remains hopeful despite their disappointment with the management. They are demoralized with the delays in settling cabin crew allowances issues. Both the management and union appears to be maneuvering the subject when broaching the issue of raising allowances.
MAS cabin crew"
http://malaysia-today.net/mtcolumns/letterssurat/35480-mas-cabin-crew-lowest-paid-in-the-world#comments
Roti Jala
BINGO from http://syedsoutsidethebox.blogspot.com/2010/10/why-glcs-will-never-go-bankrupt.html "I beg to differ. GLCs will never go bankrupt. They will just become huge sinkholes and black holes where huge amounts of taxpayers money will disappear." When Sime Darby could or should have gone bust because of their fiasco in Qatar and Bakun, the solution was easy. Before the sh*t hit the fan and the losses became public, just merge Sime with the much healthier balance sheeted Guthrie and Golden Hope. Abracadabra you have ‘the largest plantation company’ in the world or something like that. So GLCs will never go bust.
ReplyDeleteThen you have Malaysia Airlines. A commentor Little Bird said this in my Blog yesterday : Please look into MAS 2009 Annual Report Pg 92 “http://malaysiaairlines.listedcompany.com/misc/ar2009.pdf”
You will notice that MoF (i.e. NMY) pumped in RM1.67 billions in 2007, RM 3.34 billions in 2008, RM 3.34 billions in 2009, thus a total of RM 8.355 billions were wasted on Roti Jala from 2007 to 2009, the best executive and now minister, money can buy.
Wonder who is the most stupid of them all, Jala, NMY who choose him or the public, for being so confused?
BIG BIRD
This should answer your query, Big Bird. "However Datuk Seri Idris Jala had insisted that the government was still on track in tackling corruption despite Malaysia continuing to score poorly on the CPI.
ReplyDeleteThe Pemandu CEO downplayed the graft watchdog’s findings, claiming that Malaysia’s CPI score essentially remained the same this year and did not reflect the government’s progress in combating corruption"
Hee, heee, Pemandu modus operandi now is to downplay everything, until the ship sinks, just like MAS. More truth will surface real soon. The Plumber.
ReplyDeleteOh yesss, NMY and IJ will be out soon. Thanks Najib. Let's plug the leakages 2gether.
ReplyDeleteLittle Bird. 21 Nov 2010
On 8 August 2009, P. Gunasegaram wrote in the STAR “As at Dec 31, 2008, the airline had RM4.62bil in cash, reducing by a huge RM850mil to RM3.77bil as at March 31, 2009 and by a further RM830mil to RM2.94bil as at end-June 2009. That’s a rapid rate of cash depletion of almost RM1.7bil in a mere six months.”
ReplyDeleteOn 25 Nov 2010, MAS said “For the nine months ended Sept 30, MAS reported a net operating profit of RM127mil against an operating loss of RM644mil from a year earlier. For the same period, its net profit was RM9mil against a loss of RM120mil before. Its balance sheet with cash and negotiable deposits was RM2.26bil as at Sept 30.”
End 2007 cash was RM5.2 bil
End 2008 cash was RM4.62bil
End 2009 cash was RM2.94bil
¾ 2010 cash now RM 2.26 bil
Good job for gaji buta, Guys.
Sleepyhead.
Well, some clues what is going to happen soon:
ReplyDeleteFrom the NEM report analysis,
“Among the more interesting recommendations are right-sizing of the public sector to lower wage expenditure, ensuring government contracts reserved for bumiputeras are awarded to small and medium size enterprises only and a re-engineering of GLCs so they support and not compete with the private sector.
“Barriers, both formal and informal, in government procurement processes which accord GLCs preferential access should be removed. To ensure operational independence, political and ministerial interference in the day-to-day management of GLCs should be met with stiff sanctions.”
>>> To ensure operational independence, political and ministerial interference in the day-to-day management of GLCs should be met with stiff sanctions <<
Tell tale signs for NMY and his cronies to go after screwing MAS big time.
Little Bird
Fuads left MAS in 2004 with accumulated losses of RM 1.7 billion.
ReplyDeleteIn walk the Messiah..and in the first year AR under his tenure the accumulated loss is RM 3 billion.Thus loss for the year (predominantly under Fuad's watch) was RM 1.3 billion.Thats the complete kitchen sinking,the bathwater and the baby treatment of cos.
Then the Messiah did his magic.He professed to turn around MAS.Of cos non core assets have to be sold and gains recognised.
But was it really a turnaround?
Fuad last cf losses is RM 1.7 bil..and after DSIJ kitchensinking it grew to RM 3 bil.
As of Sep 2010 the carried forward losses is RM 5.6 billion i.e a loss that can be attributable to DSIJ regime of at least RM 2.6 billion.And if one is to scrutinise (n less gains from sales of assets) the actual loss is RM 4 billion.
Where is the turnaround?
Ok..fair to say that DSIJ made a singularly bad bet on the fuel prices thus losing 3 billion..
But should we NOW allow him to make the RM 43 bil bet?I think I will be cautious with the guy's projections.His crystal ball have proven to be severely clouded cos of the hot air he generates.
Won't even buy a 4 digit from his gut feel.But sadly PM believes.
"Saturday December 25, 2010
ReplyDeleteWork on a win-win formula, MAS and AirAsia told
"BOTH the local airlines have been urged to come up with a win-win formula to start on a strategic collaboration to compete on the global level by Deputy Prime Minister Tan Sri Muhyiddin Yassin."
About time... and after they wasted so much Rakyat money in trying to kill each other... sheesh!
What we desperately need urgently, Mr DPM, is a National Aviation Policy.
Ahmed
"Sime Darby said on Thursday that it had filed a civil suit against its former chief Datuk Seri Ahmad Zubir Murshid and four other former senior personnel for restitution of at least RM338mil plus general and aggravated damages and other relief."
ReplyDeleteGreat landmark action, a good start and need to do MORE to reagin public confidence.
No lip service please, GE is coming.
CON AIR
Well done, guys. Keep up the good work. It doesnt take a rocket scientist to realise that MAS is sill screwing up with the figures. Thanks to Munir, Sada , Azmil and Azha.
ReplyDeleteYou guys are definitely better than the PR who keeps harping that MAS lost RM 8 billions during TR tenure and yet do not give any accounting details.
Hey, Macha... TR is 15 years history lah... the problem is now and worst than TR, get your focus right !
Btw, Air Asia is not a threat. Air Asia is a big scam and they are 'BIG" because MAS is WEAK.
MAS Super Analyst.
Current exccesses are kept grossly unchecked as the beneficiaries are amongst them. It's like a you scratch my back I'll scratch yours truce, a tight inpenetrable web that is spun to protect the "elite". It is impossible to breach even the perimeters, it is too treacherous for any do gooders.
ReplyDeleteSounds like the Mafia or the Pentagon, hell,it could even be the Kremlin.Humbly, it's only MAS.
"Fernandes thinks MAS is making a big mistake by fielding Firefly in the LCC market.
ReplyDeleteIt will be a disaster. I will be very concerned and believe MAS is losing focus yet again. Since I have been in the aviation sector they have had three equity injections and the shareholders should take a hard look at the business model again, Fernandes says."
3 equity injections, hmmm, who is lying now.
After the ATR purchase, Firefly has again screwed up big time on the B737-400leasing... more millions down the drain, mah.
Fatso
“The civil suit is filed against the defendants following breaches of duties owed to Sime Darby and the subsidiaries named in the civil suit,” it said.
ReplyDeleteThe relief Sime Darby is seeking includes:
An order that each of the defendants makes restitution in the sum of RM80.5mil, wrongly paid to consultants in the QP project."
Hmm...should learn from MAS for rightly paid.
CON SULTAN
"Nor Yaakob who has gone crying to see Tun Mahathr, horrified at the thought that he may be shown the exit from cabinet this time, should also be asked to pay back the money he lost when speculating on our currency"
ReplyDeleteHa, ha, ha retribution time... the cleansing has begun.
Well done, Tok Jib
You got my vote next GE.
Little Bird.
29 Dec 2010
Please look into Taraf Kelana Sdn Bhd's contracts with MAS. Taraf Kelana is onwed by Eric, his father is a former federal minister. MACC, if you got TELOR, investigate Taraf Kelana, and then you will find out how CORRUPT, MAS purchasing and engineering unit are.
ReplyDeleteDeng Heng Law
4. I am therefore compelled to respond because I am a member of the same MACC Corruption Prevention Panel of which Ramon is the Chairman. One thing I must agree with Ramon is that Abdul Gani had indeed gone out on a limb and had gone overboard in trying to convince us of his innocence and that he had no close relationship with En Shahidan. To me and others, it was a sorry sight.
ReplyDelete5. I regret Ramon’s statement that - “ MACC members were satisfied with Abdul Gani’s explanation and found that there was no need to investigate the allegations”. I also resent Tan Sri Ramon’s statement that - “We found that there was no case at all to accuse him of being linked to Tajuddin just because of this Haj trip. It was irresponsible to allege that he was in any way linked.”
Ha, ha, ha....now we know that Sada and Ramon are related, both are snakes.
Remember, Ramon had also serves as BoD in MAS, then Air Asia, Sunway, u name it, he also collects gaji buta for MIC war chest.
MAS- the breeding ground for rotten to the core, crooked and corrupted cronies.
Ramona
p.s. Bru, please dig deeper... for the first and biggest scoop of the year.
2010 was the year of Sime Darby, 2011 shall be MAS.
betultu saudara pak rocky, disini pun dah banyak bukti untuk siasat mas.
ReplyDeleteoperasi mas masak.
In trying to reduce fuel cost and short turnaround, Air Asia resort to hard landing.
ReplyDeleteMeaning they do a sharp decline to maintain longer time at higher fuel saving level.
That is the reason for the many landing casualities.
This hard landing is giving rise to structural problem of their aircrafts.
One strongly kept secret is that AirAsia had to write off one of its aircraft.
Fatso
MT wrote "The late Tan Sri Azizan, who was asked to use Petronas to salvage MAS, was astounded at the abuses that he discovered. He then tasked Dr Mohamadon Abdullah, JJ Ong and Shahari Sulaiman to review the Cargo operations of MAS. They concluded that MAS would just go into bankruptcy unless the Atlas Wetlease and the Hahn project were terminated. This was aside from other problematic contracts including one where Tajudin boldly claimed that he used MAS money to donate RM20 million to Umno!"
ReplyDeleteABITW wrote "Phang's list of concern seemed long but the focus is on Tajuddin and MAS. There will be some revelation that will embarass them. All in due time."
Why are they still talking about TR? TR damage was 15 years ago and until now they have not been able to fix the problem.
Their arguments are political distraction while the current thieves are still plundering MAS and the publics.
Brother Voice and RPK, stop confusing the public, fix the vital few and trivial many will fix themselves.
RPK and Voice Mutual Friends aka The Troubleshooters
BN must fix MAS problem fast. If MAS is in trouble, the country is in trouble.
ReplyDeleteRemember, the perception as exposed by Wikileaks is that this country is run by Idiots (so is MAS)
My take on Tenang is BN will lose due BN is getting arrogant again (esp. MCA) and PAS did very well by pitting a Lady Teacher against Fatso.
HIDUP PAS, Habislah MAS
Tan Sri Abdul Aziz said @ http://www.mmail.com.my/content/60453-twopronged-attack-fight-corruption#comments
ReplyDelete"The modus operandi of corrupt practices involving large-scale payments are apparently done through “consultants”. Here again it becomes difficult for legal action to be taken as there is no clear proof of the fact of the commission of the crime."
Bingo Tan Sri, they even use consultant to exercise their brain. Any blunders done, they just wash hand and blame the consultants.
MAS started this culture in 2002.
Like all huge corporation that has Malaysian poltical finger into it, incurs colossal losses. Before rots are exposed, they will as usual be plenty on PR exercises to hoodwink the people about what great work they are doing and winning suspected awards. The blue eyed will make their money and pass the carcass to the next thief Govt. selects as next head. Which corporation in Malaysia is making money? Even Petronas, EPF, is fleeced to its bones. People with link to BN leaders will continue to steal. This rot will continue until we have two party system in Putrajaya. Until then, as long as there are still people that BN can buy in by-elections with kacang putih, we will continue to bleed.
ReplyDelete'MAS must return to basics'
ReplyDeleteWednesday, February 02 @ 05:01:32 PST
Former chief executive Abdul Aziz Abdul Rahman shares what has gone wrong with the national carrier and how to turn the situation around.
http://malaysiakini.com/news/155167
Yes, MAS is sinking fast and the worst part is the Shareholders are so ignorant esp. The Gomen.
About time Tun whacked Munir !!
ReplyDelete"SEPANG 3 Mac - Malaysian Airline System Bhd. (MAS) perlu belajar daripada syarikat penerbangan tambang murah, AirAsia Bhd. (AirAsia) untuk mengenal pasti cara pengurusan yang dapat menjamin keuntungan tanpa perlu menaikkan harga tiket.
Bekas Perdana Menteri, Tun Dr. Mahathir Mohamad berkata, beliau pernah menyuarakan pandangannya mengenai perkara itu kepada Pengerusi MAS, Tan Sri Dr. Munir Majid.
''Saya pernah beritahu Pengerusi MAS supaya melihat kepada AirAsia dan mengenal pasti bahagian manakah yang boleh dipelajari," katanya ketika berdialog dengan staf-staf AirAsia di Akademi AirAsia, di sini hari ini."
Even Tan Sri Abdul Aziz (former MAS MD) when interviewed by Malaysiakini said 3 salient points:
1. MAS must return to basics
2. Jala did not turnaround MAS
3. To deploy the "right people" in taking MAS forward.
http://freemalaysiakini.blogspot.com/2011/02/mas-must-return-to-basics.html
Soon, Little Bird will whack Munir personally, again.
Little Bird
I am not in an airline industry but hv been following it.
ReplyDeleteTun M should know better, cannot compare full-serviced carrier to a low cost carrier. One example having an aerobridge requires an engineer, a technician and a driver of the special utility vehicle that pulls out the plane (plane cannot reverse mah!).
Remember during Tan Sri Aziz's time MAS had a monopoly, now competition w so many airlines. So Tan Sri, back to basic like what? This era of the internet and we could also do mobile phone check in as compared during your time which we had those carbon copy tickets. We would like to be enlightened by your suggestions.
When SIA was formed LKY wanted SIA to be run on pure commercial basis. MAS was not, it had many social obligations (it even flew to Ipoh!).
Anon 11;15 , thank you for your comment. I am glad many people still reading this very article. It further proves how important is the aviation industry.
ReplyDeleteAllow me to clarify the meaning of back to basic esp. wrt business and people management.
Basic means to go back and take care of your own staff and not overreliant on con-sultants.
Basic means to go back to your own core business which is to transport people and not to gamble on fuel hedging or any speculative instruments.
Basic means to get the right people to do the right job and not to rely on kids to do men job, con man to do honest jobs and IDIOTS to do intelligence work.
Nevertheless, spot on "MAS was not, it had many social obligations (it even flew to Ipoh!)." and yet can still afford to give 3 months bonus to her staff and that was real basic.
MORE TO COME!
Good one, anon 11.58. Very simple explanation on back to basic. Basic, maa.
ReplyDeleteMunir said here http://www.utusan.com.my/utusan/info.asp?y=2011&dt=0326&pub=Utusan_Malaysia&sec=Korporat&pg=ko_01.htm
ReplyDelete'Rafidah adalah kawan saya, tetapi saya akan melawan balik, walaupun Rafidah akan memukul saya dengan beg tangan dan saya tidak mempunyai beg tangan untuk membalas,'' katanya sambil berseloroh."
What a dumb statement from a dumb Chairman.
No wonder MAS is so screwed up.
The end is near.
Ha, Ha, ha ... former MAS MD, now Senator Minister covering a big blunder with another bigger blunder, just like MAS !!!
ReplyDelete"In the advertorial, Pemandu CEO Senator Datuk Seri Idris Jala said Tricubes Bhd would invest 100 per cent of the RM50 million MyEmail project that was conceptualised as an Entry Point Project (EPP) under the Economic Transformation Programme (ETP).
Jala also stressed that the government “will not spend a single sen” in the project’s investment and operating costs.
“On the other hand, it is estimated that the government stands to save at least RM200 million over 10 years,” he said.
He explained that government agencies would make savings of almost 50 per cent by paying 50 sen per email to myemail.my accounts, as government agencies currently paid up to RM1 per mail and RM2 for each returned hardcopy correspondence."
Next move, Deputy MD of MAS!
MASWATCH.
KUALA LUMPUR: Minister in the Prime Minister's Department Datuk Seri Idris Jala has expressed surprise that Malaysia has fallen six places in international competitiveness ranking from last year.
ReplyDeleteWhat do you expect from a former MD who failed to turnaround MAS?
Same thing with TAZ who will be out soon.
The Trouleshooters.
"KUALA LUMPUR: Malaysia Airlines (MAS) fell to its lowest level in more than nine years in Bursa Malaysia trading after index provider MSCI Inc said the national carrier's stock will be removed from the MSCI Malaysia Index."
ReplyDeleteTONTO
Oh, oh , the shit has really hit the fan.
ReplyDeleteMAS is now trading at a decade low of RM1.45, with a total market cap of less than RM5 billion.
2.2 billions vapourised within 6 months, bigger than Slime Darby,
pandir betoi pak pandir.
Monday, May 30, 2011, 08.59 PM
Malaysian Airline System Bhd, the national carrier, tumbled to a 12-year low in Kuala Lumpur trading ahead of its removal from the MSCI Malaysia Index.
The stock slumped for a sixth day, losing 6.2 per cent to RM1.36 at 11:11 a.m. local time, set for its lowest close since April 1999. The change will take place as of the close tomorrow, MSCI said in a statement on its website. -- Bloomberg
It is a crying shame for our national airline MAS to be incurring huge losses almost year in and year out over decades. It exposes the management failure of successive government appointees to the organisation and most probably, their managerial impotence against the backdrop of governmental corruption from the corridors of power. There has been simply no accountability for the losses in this government-controlled organisation.
ReplyDeleteThis loss-incurring situation is also prevalent in many other government-controlled organisations. Both the government and the organisations concerned should be made by the Malaysian electorate to promptly surrender and let other more efficient and less corrupt people manage what they could not properly achieve through decades. This nation has been bleeding for far too long through sheer incompetency and corruption. Still is.
Maybe they need another UMNO connected consulting firm to be contracted out to find the cause of decline. The last one they paid millions of dollars just to be told what most Malaysians already knew & could have given advice for free . The Govt and UMNO cronies have to step aside and let the market fix the problem. Booting out the deadwood and all the top inept management should be the order of the day by the new board members..
ReplyDeleteWell said, anon 6:57
ReplyDelete" ...their managerial impotence against the backdrop of governmental corruption from the corridors of power."
Most Malaysians have no balls, itu sebab Viagra boleh jual , tak caya tanya Chua Jui Meng.
"After the budget presentation by the Chief Minister last year, Rahim questioned the rationale of the state budget, accusing a certain part of it having a reversal in meaning because a liability was factored as an asset – a possible case of creative accounting. He said “On the state’s estimated revenue of RM2,747.9 million in 2011 which is less than the estimated RM3 billion for this year, I am interested to learn that the difference in budget for 2010 was due to the state government issuing RM544 million worth of bonds.... please explain why the issuance of bonds is considered as the state's revenue when it is in fact a liability” (Borneo Post, Nov. 25, 2010). This request for an explanation was never responded to. The root of this confrontation was Musa’s decision to drop Rahim from the cabinet because Rahim was seen as the main challenge to Musa at one time. So you reap what you saw, the ghost of history comes back to haunt the present."
ReplyDeleteProof to show that MAS (a RM 13 billions revenue and RM 14 billions expenses Company) is bigger than many States combined and they still allowed IDIOTS to manage it.
GAJI BUTA GANG.
"Malaysia stands ready to help African countries undertake economic transformation and is willing to send Idris Jala, the chief executive officer of the Performance Management and Delivery Unit (Pemandu) to help them with the mammoth task, Prime Minister Najib Abdul Razak said today"
ReplyDeleteBrilliant move, Mr PM. Make sure you send Munir and Azmil as a package, buy 1 and get 2 free.
MAS Voice.
"At 5pm yesterday, MAS had a market capitalisation of RM5.2bil. Its share price had been underperforming so far, closing at RM1.56 yesterday. Year-to-date, the counter has lost 25.7%.
ReplyDeleteSeparately, Munir explained that the board of directors had been fielding questions from shareholders at the AGM, thus it took such a long time. He said shareholders wanted to know particularly what MAS was doing to close the net loss gap and concerns on share price performance were also raised at the AGM.
“We showed shareholders what we have been doing and what will be done. We also showed a comparison with other carriers. We did quite badly no doubt ... some airlines made profit while some saw their profit pared down. Luftansa made loss but it's a cold comfort for us,” he said."
GAJI BUTA GANG strikes again.
28 June 2011
Earlier was Bernard Francis, now
ReplyDelete"Tan Sri Dr Mohd Munir Abdul Majid will retire as chairman of Malaysian Airline System Bhd (MAS) when his current term expires on July 31, 2011, the airline said today."
Good riddance.
The clean up has begun!
Troubleshooters.
Friday July 22, 2011
ReplyDeleteMAS chairman should be from airline sector
Friday Reflections - By B.K. Sidhu
"Malaysia Airlines (MAS) also jumped in to announce that its chairman, Tan Sri Munir Majid, is finishing his term at the end of the month after seven years at the airline.
But what surprised many is that his successor has not been named and the deputy chairman will take over in the interim.
Perhaps the Government needs more time to select a candidate but whatever the Government does, it should, this time around according to experts, select a candidate from the airline or aviation industry.
That is vital going forward for MAS as the industry is crisis-prone and the challenges are just too many. Experts suggest that the board should also have members from the air sector.
Jet Airways, among others, is a clear example of an airline whose board has members from the airline industry. We should move towards that direction. The trump card is really in the the hands of the Government let's wait and see who it chooses."
Well said, BK.
I propose Tan Sri Abdul Aziz, if only the Gomen is smart enough. SIGH!
The Plumber.
Well done, Tony, after you have milked MAS and Malaysians dry, now you want to move to Jakarta.
ReplyDelete"With all the troubles he has had over the last two months, the confirmation Friday that AirAsia, arguably Malaysia’s most vibrant private company, is moving its headquarters out of the country to Indonesia is one more blow.
Tony Fernandes, AirAsia’s group chief executive, confirmed the decision in Tokyo Thursday, saying the move is an effort to upgrade his company’s image as a regional Southeast Asian airline rather than just a Malaysian carrier.
“I don't know whether Najib has been told or not,” said a business associate of Fernandes in Kuala Lumpur. “But why should Tony care? There are solid business reasons for moving to Jakarta.”
MAS is forever in trouble because of corruption, low morale amongst the staff, the management has lost touch with the whole MAS team and in short, those managing MAS are incompetent. MAS has been outsourcing almost everything by the present management.Every department, section and subsidiary are basically separate identities. In outsourcing, there will be extra cost being incurred beacuse everyone wants to make money and in the end whatever MAS got from these outsourcing is never the best, but mediocre. The argument that the best can be achieved by outsourcing is utter rubbish, if not why then MAS is getting the worst of everything? The ultimate role of the MAS Board of DIrectors is just sitting on their butts in the Board Room, chatting and dreaming. That is the only real MAS in the whole set up.. EVERYTHING HAVE BEEN OUTSOURCED!!! All of the board members have professional accreditations and titles before their names but they all lack substance. I hope Dato' Azman Mohktar will start firing all of them one by one save MAS.
ReplyDeletePissed staff
http://www.themalaysianinsider.com/business/article/sales-chief-quits-as-mas-revamps-department-after-weak-q1/
ReplyDelete"MAS is guaranteed to need another bail out within the next 18 months. It is running out of cash again. Honestly nothing to do with Idris Jala, but the new weak CEO who cannot make decisions and let his own "1st floor boys" make the decisions for him. And just like Pak Lah, always falling asleep in meetings. Most of these young boys were born in 80s and have no experience so how to know what advise to give?"
My advice to Azmil, please come clean and expose Jala before you will be further stripped.
BIG BROTHER
Tony caught lying again.
ReplyDelete"Since the news broke over the weekend, politicians linked to Najib's UMNO had begun lobbying for a retraction from the airline. But as far back as June, AirAsia regional commercial head Kathleen Tan had told the same to the Jakarta Post.
“We have chosen Jakarta to be home to our ASEAN office. We will move our regional office operations to Jakarta,” Tan had told The Jakarta Post. “The new office is now under construction and it will be up by August or September this year,”
Fernandes himself had characterized the Jakarta move as a simple business decision to take advantage of Indonesia’s vastly larger economy and population. This is nearly 10 times that of Malaysia’s, although Malaysian annual per-capita gross domestic product of US$14,700 by purchasing power parity is much higher than Indonesia’s US$4,200.
However, the sheer size of the country's populace means that the Indonesian economy is at towering US$1.03 trillion versus Malaysia's US$414.4 billion, based on estimates in the CIA Factbook for 2010.
"AirAsia said the move is a bid to take advantage of access to the Asean secretariat, which is based in Jakarta, in advance of an open skies agreement expected to go into effect in 2015 and which is designed to lower barriers for air travel between the region’s capitals.
Asked why he chose to move the fast-growing airline’s principal corporate base to Jakarta from Kuala Lumpur, Fernandes said: “Asean is based in Jakarta, and Indonesia will be the largest economy in Asean in times to come … And I like it there” – enough, he said, to have impelled him to have already bought a home in Jakarta. "
Anonymous said...
ReplyDeleteDid you know that LSG-Brahim supply to MAS based on 100 per cent occupancy ratio. Meaning if an airline got 300 seats they supply for 300 people, even if there is only ten people who bought the seats. Org dalam pasti call dan cakap lah, bang supply utk 20 cukop ari ni, tapi MAS kena bil utk 300 org. ENAKKAN?
2:45 PM
bro...
u goreng lebih...if x tau yang betul jgn cerita
i work with mas since 1991 and left in 2008 and now with the best airlines of the year.
involved in mas airline catering most 17 and i now you comment was tipu hidup hidup.
How Tony F screwed Khazanah aka The G aka The people aka u n me ... and the Black Midas still roaming free?
ReplyDeleteBy Thursday 10 August 2011 the spread between MAS and AirAsia share prices had widened giving Tony a gain of RM RM 261 971 170!
Calculations were based on the pre-suspension closing price of RM 3.95 for AirAsia and RM 1.60 for MAS.The closing prices on Thursday 10 August 2011 were RM 3.50 and RM 1.80 respectively,
The workings are as follows:
AirAsia shares sold by Tony to Khazanah =277,650,600
Loss on shares to Khazanah, and gain to Tony =RM 124 942 770
MAS shares sold by Khazanah to Tony= 685,142,000
Gain on shares to Tony, and loss to Khazanah= RM 137 028 400
NET GAIN TO TONY: RM 261 971 170 (RM 261 Millions loose change)
WHITE MIDAS
Shit still hitting the fan, stinkier than ever.
ReplyDeletehttp://weechookeong.wordpress.com/2011/09/02/greetings-from-khazanah-killing-mas-softly-fly-airasia-fly/
Friendly advice to the crooks and stooges, better back off or you will be further humiliated, just like Munir and Azmil
Little Bird
Three recommendations for Najib before all hell break loose.
ReplyDelete1. Reverse the share swap decision.
2. Put the right team in charge
3. Take MAS private
Troubleshooters, yes it is confirm that govt WILL REVERSE the decision or my name is not YEE HAA.
ReplyDeleteexcess baggage senior management get the hell out, too many of you, still MAS in this shit
ReplyDeleteTun Abdullah Badawi, if you have any conscience, step down as advisor and save MAS RM 40,000 per month
ReplyDelete