The little napoleons in Khazanah love COLLABORATION/CCF so are the babies!
In PART 1 we stopped at the sorry state of Rural Air Service (RAS) and Fly Asian Express Sdn Bhd (now AirAsia X) where six aircraft were grounded due to un-airworthiness and another one was cannibalised for spare parts, and how MAS was left to pickup the pieces thereafter.
Yg Bhg Dato Mohamed Sharil Mohamed Tarmizi, the former Executive Director and Head of Strategy of the famous company BinaFikir Sdn Bhd, and a very able Chairman of MCMC
It is most refreshing to learn that now Malaysians do know the so called “governance structure” that exist in MCMC on their procurement policies. Of course prior to this, you all and yours truly are not privy to such policies nor we rub shoulders with the mighty powers within MCMC.
Khazanah Nasional Bhd has announced the delisitng of MAS this morning. However, yesterday at about 10:30 am Reuters broke the story about the impending announcement by Khazanah Nasional Bhd, HERE.
Yours truly is pleased to learn that at last on 8-9-2013 Alwafeer Air, a Jeddah based chartered airline, was ordered by the Court in Jeddah to pay all the outstanding wages within 60 days to the 32 cabin crews and pilots. Yours truly would like to congratulate the 32 ex-MAS staffs for their success in the pursuit of their outstanding hard earned salaries, which Alwafeer Air owed them for years.
The iconic photo of the “Happy Family” of the MAS-AirAsia share swap. They were so happy after the signing of the MAS-AirAsia share swap.
Updates @ 9:30 pm on 19-9-2013: On 15-9-2011 The MD of Khazanah Tan Sri Azman Mokhtar has been quoted to have said that “The recently inked home jersey sponsorship with Barclay Premier club Queen Park Rangers is a good deal for the national carrier”. He also told newsman that “We think that we got a good deal to stand on its own commercially. I think all the numbers are there, we just need to add value”. Read HERE.
Yours truly believe that at that material time many Malaysians also share the same thoughts as Tan Sri Azman Mokhtar, who is a known to be a corporate GURU in Malaysia. Many have claimed that Tan Sri Azman Mokhtar through his BinaFikir‘s “WAU” had also saved MAS from the brink. Please read below the events after 18-8-2011 where MAS was supposed to pay £3.2 million more than AirAsia for the said sponsorship and got less for it. Was it a good deal after all?
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In Part 1 of this article, it was clear that Khazanah, CIMB, MAS and AirAsia are fuilly aware of the provisions of the Competition Act 2010. MAS and AirAsia have sought the advice of the consultant, Bain & Co, on anti-trust laws/Competition Act 2011.
The iconic photo of the “Happy Family” of the MAS-AirAsia share swap and architects of the violation of the Competition Act. From 2nd left; Datuk Kamarudin Meranun, Tan Sri Azman Mokhtar, Tan Sri Md Nor Yusof, Tan Sri Tony Fernandes, the Khazanah Whiz Kid Mohamad RashdanYusuf aka Danny & Dato’ Sri Nazir Razak of CIMB
Updates @ 6:10 pm on 10-9-2013: “Deloitte has been fined a record £14m for failing to manage conflicts of interest during its role as an adviser to collapsed British carmaker MG Rover. On Monday the Financial Reporting Council, which brought the case against Deloitte, said the outcome of an independent tribunal was a “strong vindication” for its six-year-long probe into Deloitte’s work for companies involved with the carmaker in the lead-up to MG Rover’s collapse.”
The international accounting firm Deloitte was fined 14 million Pound Sterling by UK authority. Will we ever see our authorities taking the same actions here?
In the case of the MAS-AirAsia share swap, there were two advisors namely Dato’ Sri Nazir Razak and Bain & Co but it is unclear about their scope of appointment. For full report of the fine imposed against Deloitte, please read HERE &HERE,.
Left: Tan Sri Md Nor & Tan Sri Abdul Aziz Zainal. Pictures taken from NST.
Jaringan Melayu Malaysia (JMM) has called for Tan Sri Abdul Aziz Zainal, the former Malaysian ambassador to France and General of Malaysian Arm Forces, to take over the chairmanship of MAS from Tan Sri Md Nor Md Yusof. JMM is confident that Tan Sri Abdul Aziz would be able to bring MAS back to its former glory, in HERE.
9-7-2013 MAS announced the reinstatement of the Dubai route.
On 9-7-2013 En Ahmad Jauhari Yahya (AJ), the CEO of MAS, has made an announcement that beside the additional route to Darwin, MAS will be reinstating the Dubai route on 1-9-2013, in HERE.
Datuk Ibrahim bin Ahmad Badawi: “We want to work with MAS”.
On 26-10-2012 Datuk Hj Ibrahim bin Hj Ahmad Badawi, the brother of the former PM (YB Tun Abdullah Badawi) and also the Executive Chairman and majority shareholder of Brahim’s Holding Bhd (Brahim’s Holding) was quoted by the Star to have said: “We want to work with MAS.” For the full Star report read inHERE.