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,.
The learned Dr Wafi Nazrin Tan Sri Abdul Hamid, who is an expert in Competition Law
Below are the latest exchanged of e-mails between Dr Wafi Nazrin Tan Sri Abdul Hamid (Dr Wafi) and En Matdiah Mohammad, the Secretary of MASE. By right Dr Wafi should not feel so jittery about the outflow of informations from MAS if the secret MAS – AirAsia share swap really meant to save MAS i.e. encouraging collaboration between MAS/AirAsia and not to stifle MAS/Firefly. As a professional, Dr Wafi should call a spade and spade. The outflow of informations from MAS employees are nothing if compare to the informations that are accessible to the directors of MAS. Dr Wafi should be more concerned about the outflow of information to the competitors of MAS unless he knew that the spirit of the secret share swap and the so-called “Collaborative Framework” were meant to stifle MAS and Firefly indirectly.
Dr Wafi Nazrin Tan Sri Abdul Hamid, Head of Legal / Risk Department of MAS.
Dr Wafi Nazrin Tan Sri Abdul Hamid, the Head of Legal and Risk Department of MAS and an expert in competition law, has given a very good advice to the members staff of MAS on the MAS – AirAsia’s “Collaborative Frameworks”. Please read his e-mail and the reply from one of the MAS unions below. Read Here for related article.
Dr Wafi Nazrin Tan Sri Abdul Hamid: Have you advised Tan Sri Azman Mokhtar and the whiz kid, En Mohammed Rashdan Yusof, on the provisions of Competition Act 2010?
It was most worrying to see what had taken place in MAS after the inking of the secret MAS – AirAsia share swap on 9-8-2011. Read HERE, HERE, HERE, HERE, HERE, HERE, HERE, HERE.
