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,.
En Mohammad Rashdan Yusof (Rashdan) aka Danny, the appointed Deputy Group CEO of MAS has finally left MAS for good on 30 June 2012. It is believed that Rashdan will have no problem in going back to Khazanah as his former business partner in BinaFikir Sdn Bhd, Tan Sri Azman Mokhtar, is there to accommodate … Read more
The new livery on MAS A380. Isn’t it very attractive? Wonder what was the design cost? An airline with two logos!
Updates @2:15 pm on 28-6-2012: Yours truly has been reliably informed that Tan Sri Azman Yahya of SCOMI is still holding on to the directorship of MAS despite the unhappiness expressed by the shareholders during the MAS AGM on 21-6-2012. Can someone in MAS help with more information on the IT related contracts?
Below are the excerpts from MAS Annual Report 2011.
Tan Sri Mohamed Azman Yahya, who is a director of MAS for many years dated back to the WAU days and also a director of SCOMIand Symphony HouseBhd. Why is he not up for re-election?
Updates @ 9:05 pm on 21-6-2012: Tan Sri Wan Azmi binWan Hamzah steps down from MAS Board during the AGM. The other aviation experts like Tan Sri Azman Yahya, Tan Sri Tan Boon Seng of IJM, Dato’ Rohanan binti Rozhan from ASTRO and David Lau Nai Pek are holding on to their directorship even though they could not show what were their contributions for the past TEN MONTHS. Tan Sri Wan Azmi;s said decision should be applauded and a very responsible acts.
One would have thought that Tan Sri Azman Yahya is a very busy man with so many companies to take care of especially SCOMI. The four chose to remain for reasons best known to themselves. Will do another posting soon about those remaining.
Updates @ 12:50 pm on 21-6-2012: The minority shareholders were questioning the competent and integrity of members of the Board of directors of MAS. They have also expressed their discontent with regards to their performance. From 10: 10 am this morning until now, the Board was still facing heavy criticisms from the shareholders. They could not even proceed to pass Resolution 1 to approve the Financial Statement let alone their Re-elections. The Board have been subjected to severe embarrassment. Yours truly has been informed that Tan Sri Azman Mokhtar’s most trusted crony, Rashdan, did not attend the AGM.
Yours truly must apologies for not been able to attend because your truly question on the BinaFikir‘s consultancy fees and the 12 companies involved in the fuel hedging losses for RM3.3 billion for Parliament was No: 4 on the list. It was answered at 10: 30 am this morning. It will be posted here later.
After the MAS-AirAsia share swap, the brainchild of the little Napoleons in Khazanah Nasional Bhd, MAS will now hold its AGM on 21-6-2012 at 10:00 am, MAS Academy.
