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Khazanah Nasional Bhd

Cabinet must say “NO” to Tony

This is the type of KLIA-2 that Tan Sri Tony wanted

Tan Sri Tony Fernandes wanted LCCT for AirAsia. The Tun Abdullah’s Administration built for him costing the nation more than RM200 million. AirAsia was also allowed to owe huge airport tax debts for years under the same Administration. He wanted Rural Air Services (RAS) the same Administration gave him with a reward of about RM65 million subsidy. In less than a year he dumped the RAS to MAS with seven un-airworthy aircrafts plus a bill of RM35 million to MAS. Khazanah Nasional Bhd pretended not to know about it. MAS had to absorb the RM35 million. A year or so ago he wanted to build his own airport in Labu. Sime Darby was very keen under the leadership of Datuk Zubir. Luckily the Government under Datuk Seri Najib said “NO” to him. He wanted the new KLIA-2 without aerobridges, MAHB said “YES SIR”, in HERE.     

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How many years did Khazanah sleep on the huge debts owed by Alwafeer Air to MAS?


Thank you Khazanah for helping Alwafeer Air!

 

Updated: 02-09-2011  The beneficial owner of the three jumbo jets in question is Khazanah Nasional Bhd. They entrusted to MAS.  The silence from Khazanah Nasional Bhd over the Alwafeer Air’s debts and the issues arose from the secret MAS-AirAsia share swap are most deafening. 

MAS has leased three jumbo jets to Alwafeer Air, a Jeddah based charter airline, in HERE. It was part of the agreement that MAS seconded our pilots and stewardesses to it. Our Malaysian pilots and stewardesses were having problems in receiving their due salaries. I am told by informed sources that documentation for the leasing of the three aircrafts were incomplete and yet MAS delivered them to Alwafeer Air. Further, the three aircrafts were registered in Jeddah under Syariah law instead of Malaysian law. I am also told that MAS and Khazanah have been officially advised against this deal but it fell on deaf ears.

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MAS UNION TO RASHDAN: STOP AIRASIA FROM INTERFERING IN MANAGING MAS!

Say NO to AirAsia X Sdn Bhd

Because of the one sided reporting, Malaysians thought AirAsia/AirAsia X Sdn Bhd/Tan Sri Tony Fernandes were coming into MAS to SAVE MAS. I am proud to receive the comments below from MAS Union. Unfortunately, The Star, which has been publishing rosy stories about AirAsia/AirAsia X Sdn Bhd and Tan Sri Tony Fernandes, did not bother to attend the MAS Union press conference on 27th August, 2011.  So Malaysians like you and I were deprived of the views of MAS Union. So forgive us for being led by the nose to believe that without Khazanah Naisonal Bhd signing the “TOP SECRET MAS – AIRASIA SHARE SWAP” on 8th August, in HERE.  MAS would have collapsed. The Khazanah Naional Bhd top management, the former BINAFIKIR SDN BHD boys would like Malaysians to believe that the said share swap would have affected our national security so had to be negotiated in “darkness”!. Khazanah Nasional Bhd handpicked , the WAU, in HERE, HERE, specialist, En Mohammed Rashdan Yusof (aka Danny), in HERE, to head MAS now.  

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Khazanah: “MAS-AirAsia share swap a case of “BINA” first and “FIKIR” later?

I would like to share the comment below with all the readers with regards to this so-called  “MAS-AirAisa share swap”, which was shrouded with secrecy. Khazanah Nasional Berhad is still thinking about buying the 10% share in AirAsia X Sdn Bhd. Khazanah has appointed Morgan Stanley Investment Banker to do a valuation on AirAsia X Sdn Bhd, which has posted losses amounted to almost RM90 million. Read HERE, HERE, HERE, HERE, HERE, HERE, HERE, HERE, HERE.

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WAU! Tony had to leave MAS’s Exco?

AirAsia’s 2nd quarters net profit was down by 47% to RM104.26 million against RM198.93 million deferred tax charge. MAS posted a net loss of RM526.8 million. MAS called off its media briefing at the eleventh hour yesterday due to “unforseen circumstances” but continued with its analyst briefing. Tan Sri Tony Fernandes told analyst in a conference yesterday that the airlineswill be presenting their case to the Prime Minister in his bid to reverse airport operator MAHB’s to increase passenger service charge, aircraft landing and parking charges. As usual the press report on AirAsia was very rosy and will be flying to another majestic height and the future of MAS, of course, was very very bleak. Read HERE.

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Tony says NO to aerobridges, MAHB & Khazanah say YES Sir!

Tony can now order MAHB, indirectly Khazanah Nasional Sdn Bhd, what to do. As can be seen in the case of KLIA-2 where the original plan was to build aerobridges for the convenience of the passengers including disabled person (OKU). When Tony snapped his fingers and say no to aerobridges, Tan Sri Bashir of MAHB had to also kow tow. Even Khazanah was in total silence. What a powerful man indeed? No wonder AirAsia had a good record of owing more than RM125 million in airport taxes since its inception until recently and MAHB dared not leave a finger to take actions. Read HERE. The outstanding airport taxes were only paid recently after the matter were brought up in Parliament several times. See how powerful is Tan Sri Tony Fernandes/AirAsia and now Air Asia X Sdn Bhd. By the way the original name of AirAsia X Sdn Bhd, which is a more suitable name for Ministry of Transport and Khazanah, was Fly Asian Express Sdn Bhd, in HERE.

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Khazanah: Who are the business partners of Tony in AsiaAsia X, a private limited company?

In the Inquire Business report 0n 7-8-2011 quoted Tan Sri Tony Fernandes and his partner to have said in a joint statement that

“As the major shareholders of AirAsia Bhd and AirAsia X Sdn Bhd (which operates long-haul budget flights), we are committed to increasing shareholder value in both our core investments by continuously exploring various opportunities to enhance our franchise,” in HERE. The emphasis is mine. From this joint statement it was crystal clear that Khazanah Nasional Bhd, as the majority shareholder of MAS appeared to be very desperate to buy a franchise for these “special” brand names AirAsia and AirAsia X from Tan Sri Tony Fernandes and his business partners. With the pace and the way in which this so-called share swap was concluded with such utmost secrecy gave the impression to all Malaysians that Tan Sri Azman Mokhtar, Mohammed Rashdan Yusof and especially YB Tan Sri Nor Yacob, the Minister of Finance II under PM Abdullah Badawi were TOTALLY unaware of the Malaysian business partners of Tan Sri Tony Fernandes’ lucrative aviation business.

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Tan Sri Azman Mokhtar: Have you read the AirAsia’s financial statements?

I would like to share this comments which I have received from a reader, Warrior 123. I am surprised that mainstream newspapers like Star and others, have resorted to quoting sources, has painted a very rosy picture of this AirAsia/MAS share swap without any analysis on the income statements of AirAsia. Please read this well thought out piece below. Judge for yourself.  I hope that Tan Datuk Sri Azman Mokhtar, head of Khazanah Nasional Bhd, and the bankers can convince us otherwise with their own analysis based on the AirAsia financial statements.   

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KHAZANAH Stop “ANAKTIRIKAN” MAS! How about LSG Sky Chef Brahim?

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? 

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