15-3-2012 Questions TIme: Under AJ & Rashdan RM24.9m consultancy fees paid to date
Mohammed Rashdan Yusof
Aussie Competition Commission: AirAsia’s pricing was misleading!
The Australian Competition and Consumer Commission (ACCC), an equivalent of Malaysia Competition Commission (MYCC), has filed a lawsuit against AirAsia for failing to disclose the full air fare in its website for the following flights: Melborune and Macau, London, Ho Chi Minh City, New Delhi, Hangzhou & Chengdu, Perth and Taipei, Phuket, Osaka, London, Ho Chi Minh City and Hangzhou, Gold Coast and Ho Chi Minh City, in HERE. The suit has been scheduled to be heard on 2nd March, 2012. Read in HERE , APANAMA – “Australia nails ‘extraordinary’ AirAsia, & ABITW – “Demand the same from AirAsia”.
Questions time 9-11-2011: MAS sold 70% of MAS Catering & signed a 25 year exclusive contract
09.11.2011
Y.B. TUAN WEE CHOO KEONG [ WANGSA MAJU ] minta MENTERI KEWANGAN menyatakan:-
(a) mengapa pada tahun 2003, MAS yang berada di bawah Tan Sri Md Nor Md Yusof, yang pada masa itu merupakan Pengarah Urusan MAS dan juga arkitek bagi Widespread Asset Un-bundling aka “WAU” telah menjual 70% saham daripada bahagian di dalam MAS Catering Sdn Bhd, sebuah syarikat MAS yang ‘profitable’ dengan purata perolehan tahunan sebanyak RM300 – RM400 juta dan keuntungan bersih sebanyak RM50 juta atau lebih setiap tahun, kepada sebuah syarikat dan serentak dengan itu MAS memasuki suatu perjanjian yang dianggap berat sebelah terhadap MAS di mana MAS terpaksa membeli semua makanan dan minuman serta lain-lain perkhidmatan kabin dengan keuntungan jaminan daripada syarikat tersebut selama 25 tahun; dan
(b) nama syarikat itu dan juga harga jualan serta butir-butir penuh perjanjian selama 25 tahun tersebut dan apakah tindakan yang telah diambil oleh Khazanah untuk memecahkan perjanjian yang tidak adil ini yang boleh menjejaskan pertumbuhan MAS dan/atau untuk meringankan beban kewangan MAS.
Dr Wafi: MAS employees questioning the wisdom of the “matrimony”
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.
Rashdan & Co: BINA tak Fikir wang rakyatkah?
It was reported in the Star today that the sponsorship for QPR home jersey will cost MAS RM18 million for two years. Whereas in June 2011 Genting UK sponsors Aston Villa, a much more renown team, main jersey for only RM17 million also for two years. For full report, please see below. This was how En Mohmed Rashdan Yusof aka Danny, the newly crowned Executive Director of MAS by Khazanah, was trying to save MAS from the brink. It was a senseless decision by MAS. A clear case of no due diligence being exercised before making the decision. Just like the secret MAS-Asia share swap! A clear case of being led by the nose!
Rashdan: Do you know about the RM50 ancillary charges imposed by the so called “No Frills” AirAsia
Please look at the list of unreasonable charges imposed by AirAsia, hailed by Tan Sri Tony Fernandes as “No Frills Airline”. What a good lobbyist!
MAS Unions to protest against the secret MAS AirAsia share swap deal
PETALING JAYA: Three unions in MALAYSIAN AIRLINE SYSTEM BHD (MAS) representing about 15,000 employees will hold a picket over the national carrier’s share swap exercise with AirAsia.
How many years did Khazanah sleep on the huge debts owed by Alwafeer Air to MAS?
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.
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.
WAU! What a rosy report on MAS!
I read with great admiration the report card of BinaFikir Sdn Bhd with regards to the “Widespread Asset Bundling” (a.k.a. as “WAU”) restructuring of MAS. Incidentally, Tan Sri Azman Mokhtar and Mohammed Rashdan Yusof were co-founders of BinaFikir Sdn Bhd. During the WAU exercise, Tan Sri Mokhtar was the Managing Director and Mohamamed Rashdan Yusof was the chairman of BinaFikir Sdn Bhd.