Wednesday, December 07, 2011

Confirmed ... Incompetent Clueless Khazanah to cannibalise MAS for Tony F

Tony to Azman, "Great job!"

Jebat Must Die is bombarding Khazanah CEO, Tan Sri Azman Mokhtar for his incompetence. Read here and here.

Yesterday afternon, a close friend of mine came to visit. This friend used to work for someone who was together with Azman and Dato Danny Yusof in Binafikir. He said:
"Gathering from my conversation with him, Azman is just an analyst and talks like a researcher. Danny just a geeky accountant.

Both know nuts about running company operations and managing businesses. They have no idea how to develop business. They only know financial restructuring.

That is why they can't turnaround companies. Khazanah's failed to do strategic investment. Agro-business ventures failed. There is no way this people can turnaround MAS. "
Adding to that, this blogger had been told by a high level source that the Wide Unbundling of Asset proposal (WAU) by Binafikir was never their's.

The source claimed the WAU proposal was almost a carbon copy of a proposal given to the then Minister of Finance, Dato Seri Anwar Ibrahim sometimes in mid-90s but was rejected.

One can suspiciously speculate that Tan Sri Nor Mohamad Yakcop may have got hold of the proposal and extended a copy to them. Azman, Danny, Khazanah and some of the Tingkat 4 are Nor Yakcop's corporate boys.

However, the source claimed that the difference between Binafikir's WAU proposal and the received proposal is that the received proposal will not cost the Government any money and could develop the Malaysian aviation industry into a serious regional player.

Unfortunately, Anwar Ibrahim was too dumb to understand the proposal.

And that opportunity have by-passed us. Azman and Danny made money selling Binafikir to Maybank who had no reason to buy with Aseambanker in their fold. Something smells when Danny left Binafikir after only a year.

Whether it is true or false, why reveal this now? It sounds vindictive and personal.

Off course, there is a timing to everything. The reason being the Khazanah people have not being honest in their dealing and conduct of the MAS and Air Asia share swap.

Over the years, their capability to turnaround MAS should have been seriously questioned. If they can't do it, pass it to Airliners. Not geeky accountants. Not analysts. Not flamboyant salesman. Not IPP operator. Not bankers. Not Butcher from Shell.

But they refused.

It is as though they have something to hide. For sure, Nor Mohamad Yakcop has lots of ex-to-grind against Tan Sri Tajuddin Ramli and he would love to see MAS exist no more to hide his sordid past at Bank Negara, MAS and Naluri.


As of today, the much talked about Collaboration Framework promised had not been put together and signed by Khazanah party and Air Asia party.

The promise that the share swap between MAS and Air Asia could raise money for MAS was all bull and was to put wool on the eyes of the public.

This #SMS received from my inside source in MAS revealed the latest development, below:
The plan is to turn MAS private by buying out minority s/holder and get delisted. Engineering and cargo will be sold off. This implies that they will have the freedom to do as they please without public scrutiny.
This is the same mistake repeatedly made by Khazanah in their past turnaround plans of MAS. Profitable routes given away, cut capacity for potential business and growth, and now selling profitable asset.

It can be speculated that since Tony F's problem is in engineering, there is that likelihood engineering will be given for cheaps to Air Asia with the air cargo business added on as bonus.

Not only have they shelved Firefly and Tony now planning to established Chartam Air, MAS had two profitable Sydney routes but is giving one to foreign controlled Air Asia X.

Jeddah route will be given away too. From next year, some of the Hajj charter will be Air Asia-X's.

Profitable London route was the first Danny slashed. It was him who said something greek which means "no one party lose out but some party maybe better off."

Air Asia is better off at the expense of MAS. Apa ini one party is losing put?

It seems what Tony F did to Rural Air Service, this time Tony F have Khazanah as partner to cannibalise MAS and Danny "Boy" to be pushed around to buy worthless advertisement on QPR stadium boards.

It now puts into question Azman's claim to bloggers that each airline will stay within their respective "quadrant" of short haul, long haul, low cost, and full service?

Back to the SMS, the option taken by Azman and his Khazanah's team is typical of close-minded financial man and accountants without business management knowledge and acumen.

The past mistake of Khazanah identified, trained and nurtured former CEO Tengku Azmil was an accountant trying to be a Commercial Director. To make situation worse, Azmil couldn't handle his two Assistant Commercial Directors throwing chairs at each other in meetings.

Khazanah and Bina Fikir's handling of MAS was never concerned in generating business to turnaround the business. It is not that they do not want but it confirms that Khazanah appointed people do not know.

To continue the @SMS:
Their excuse is we need to sell the two profit making SBU to raise money for the airline biz to operate. By default, MAS will turn into a PN4 company and immediately delisted.
Their reason was the hole is bigger than that imagined. How can that be?

MAS performance and financial status had been under scrutiny for many years after Tajuddin left.

Tengku Azmil was only around for a year. So whose hole should it be?

Idris Jala's?

One well celebrated business and political figure informed this blogger two, three months ago that Idris Jala was losing money at the rate of RM100 million a month. He may have used the long time fuel hedges to coverup the true financial status until new accounting practise demand disclosure of operating figures.

The top management described it as a spin because they know MAS can be turnaround but these Khazanah people do not know but are too arrogant to ask and listen.

If Khazanah take that route, it confirms their lack of knowledge and management skill in the airline business. Yet all these years, they were letting the staff on a wild goose chase as though they are serious to turnaround MAS.

By repeatedly giving away their revenue earners, there is no serious intention to turnaround. How will MAS be profitable and grow if capacity slashed and profit generator sold?

This is but a lazy option to merely duplicate what Khazanah did at United Engineers. They delisted UEM and then relist the profitable or potentially profitable UEM Land. And UEM Land will sell Malaysian land and property i.e. sovereignty to Singaporean at Iskandar Johor. Has the problems in Dubai resolved?

It fits what the staff had known all along. MAS had been designed by Nor Mohamad Yakcop fro the days of Pak Lah's administration to be cannibalised by Pak Lah, his family and cronies like Kalimullah.

Back to the SMS# message:
That's the view of few Top 100 senior management personnel present at 630 pm today. At 9am tomorrow, there will be a town hall session with rest of staff before they make the presentation to Ministry of Transport.
All the promises by Azman that MAS will remain in control seemed to be a white lie, like the promise of collaboration.

In the first place, how could you collaborate with a dog like Tony F.


It looks like Air Asia have got the most benefit from the temporary swap. They get an inside knowledge on their competitor and it's business plan.

They get MAS's routes which have been many since the day Danny entered MAS as Executive Director. Air Asia have reduced any possible head to head competition from MAS.

They are in the Committee to select the CEO, which means MAS CEO Ahmad Jauhari is powerless to the evil twin of Tony F and Din.

It is now understandable why Azman kept quiet when Tony F was heartedly breaking the agreement to stop "grandstanding" and his charade against Malaysia Airport.

That is the last part of the SMS@:
Is the AA fight agst MAHB a diversion from MAS AA share swap problem? Is that why Amokh is so silent and TF allowed to bark?
Seriously, if this is how the deal goes, public outcry will be loud. The public knows that MAS is being cannibalised by corrupted politicians and businessmen.

That is the reason behind the grand design to blame MAS losses of RM8 billion to Tajuddin Ramli. Someone else gets the blame, while Pak Lah, Khairy, Nor Yakcop, Tony F, Kalimullah and many others rape MAS to death.

Whoever the blame be made to, Najib must step in and stop listening to brother Nazir. Otherwise, BN could lose quite number of votes ...for sure.


* Updated and edited: 6:30 am
@ SMS reworded from original

18 comments:

Anonymous said...

Interesting narrative of what the 'players' did. BUT doesnot tell who are the puppet masters. Tun Daim? Tun Dollah? Who? Unless u can direct the public's attention to the puppet masters, then this sordid charade will continue to its logical conclusion.

A Voice said...

Anon 7:57AM

Why ask the obvious?

Pak Zawi said...

I doubt that the PM is in a position to help as he himself is sinking. The rest when combined is just too powerful for him to counter. May he do the right thing for the good of the nation, at least just this once.

man on da streeet said...

The recent UMNO "conferrence" is just hogwash.Not of these "economics" issues is brought out.These factors , Khazanah, and the "musuh dalam selimut" is not being exposed. So, how to clean up UMNO if these issues is not brought out to the delegates.The delegates is just being emotional raising issues hidup ketuanan Melayu, whereas the Melayu itself is killing the Melayu!IF the Melayus wants to be strong, then economics is the way to go about it.I AM A MELAYU, so why these jokers is not exposed during the UMNO delegation? Go heads on and confront. During Tun M's tenure, he was accused of economics mismanagement's, and instantly a spreadsheet as big as a billbord appeared for all the delegates to scutinise.Tak cukup untuk menjerit, hidup melayu, 1 malaysia, ketuanan meyu and what not, selagi, orang orang yang menjahanamkan UMNO dari dalam masih ada! Demanding that the deadwoods and the non performers plus the filthy rich to abstained from being nominated is noble, but without removing these "penjahanam" shows that it means business. To reshuffle a cabinet and all the GLC's heads before the election will put trust in the rakyat. Then go for the elections, turun lah padang, dont just listen to the 4th Floor advisers, they are still there.

Anonymous said...

Saya tak pasti mengenai artikel ini serta prediction yang ada. tak kiralah siapa bersalah, siapa yang benar.

Apakah mereka yang bersalah ni tak takut mati? Time nak mati nanti macam mana? especially the muslims..

Kelab Wira Gua Melayu Nusantara said...

c&p from my fb:

My comrades & I built the airline in 1974 with pride & honor after the split from MSA in 1972. We bare the insult from all quarters i.e. MANA ADA SYSTEM....

During that period there was no ' Latest State of The Art ' eqpt & machines. Most of the work are done manual & sheer madness as work time frame had no limit. My basic pay was RM 135.00 but my OVERTIME in 1974 was RM 1,000.00 per month. Imagine the time spent working.

You should know as I had brought you in to MAS Catering in Subang personally.

Besides all these, we go through the ordeal as below:

i) Japanese Red Army incidence. Subang Airport was closed & all flts divert to RMAF Airport Sg. Besi.
ii) JAL DC-8 aircraft crash at Batu Arang.
iii) BA 747 aircraft almost crash by scrapping rubber trees top at Kg. Subang plantation.
iv) The Big Airport Fire at Terminal 1.
v) The MAS-UNION Crisis in 1978-1979.
vi) The Air Bus A300 Lease Aircraft crash at Kg. Subang.
vii) The Hijacking of MH 672 -653 B737 sector was BKI/KUL/PEN/KUL. Where I lost all my buddies AL-FATIHA & RIP for non-Muslim.
viii) The transformation of MAS Catering to privatization MAS Catering SDN BHD.
ix) Most painful feeling is THE BIG SELL OFF. Whereby MAS Catering
was sold to LSG SKYCHEFS & Dato Ibrahim.

We staff were like LAMB to the slaughter. No compensation & no nothing after 35 yrs service......

The Story of My Life. I spent 1/3 of it in MAS. Now all this shit is happening. What can I say...I gave them the Airline in the PLATTER see what they do with it. Its heart breaking my friend...
19 minutes ago · Like

Md Othman i feel the trauma bro ... that's y ive been follwg this sad ending chapter. and how about those who gave so much to MAS and so little for themselves... Mariam, Upik, abg anis & kak yool, hafiz, and those engineering boyz... n those whove passed...
8 minutes ago · Like

Kelab Wira Gua Melayu Nusantara said...

agreed with man on da street.

and here's some exchanged fb from ordinary man on the street:

My comrades & I built the airline in 1974 with pride & honor after the split from MSA in 1972. We bare the insult from all quarters i.e. MANA ADA SYSTEM....

During that period there was no ' Latest State of The Art ' eqpt & machines. Most of the work are done manual & sheer madness as work time frame had no limit. My basic pay was RM 135.00 but my OVERTIME in 1974 was RM 1,000.00 per month. Imagine the time spent working.

You should know as I had brought you in to MAS Catering in Subang personally.

Besides all these, we go through the ordeal as below:

i) Japanese Red Army incidence. Subang Airport was closed & all flts divert to RMAF Airport Sg. Besi.
ii) JAL DC-8 aircraft crash at Batu Arang.
iii) BA 747 aircraft almost crash by scrapping rubber trees top at Kg. Subang plantation.
iv) The Big Airport Fire at Terminal 1.
v) The MAS-UNION Crisis in 1978-1979.
vi) The Air Bus A300 Lease Aircraft crash at Kg. Subang.
vii) The Hijacking of MH 672 -653 B737 sector was BKI/KUL/PEN/KUL. Where I lost all my buddies AL-FATIHA & RIP for non-Muslim.
viii) The transformation of MAS Catering to privatization MAS Catering SDN BHD.
ix) Most painful feeling is THE BIG SELL OFF. Whereby MAS Catering
was sold to LSG SKYCHEFS & Dato Ibrahim.

We staff were like LAMB to the slaughter. No compensation & no nothing after 35 yrs service......

The Story of My Life. I spent 1/3 of it in MAS. Now all this shit is happening. What can I say...I gave them the Airline in the PLATTER see what they do with it. Its heart breaking my friend...
19 minutes ago · Like

Md Othman i feel the trauma bro ... that's y ive been follwg this sad ending chapter. and how about those who gave so much to MAS and so little for themselves... Mariam, Upik, abg anis & kak yool, hafiz, and those engineering boyz... n those whove passed...
8 minutes ago · Like

Janan Shamsool Bahri You're definitely right.....
A few seconds ago · Like

Anonymous said...

Sdr Jebat

But the worst case is the 1MDB CEO whose academic qualification is in Engineering but have never been an engineer
He has never been a banker or ever been in finance or accounting
Zero knowledge on property dev and yet building the 'greater kl city'
He is another 'con-sultan' who is entrusted by Najib to handle RM5 billion.

Anonymous said...

Same old formulas, n same old routines. Seen it once n kept seeing it again n again, The only diff is, its done in different organizations but by the same loosely called hand-picked "Oxbridge" Malaysia;

SOP Title - Turning Around Companies the Malaysian Way

A. Designate a new CEO

- Manpower reorg and Downsizing exercise.
- Shutting down supposedly nonperforming entities.
- Selling off performing assets.

B. Redesignate the new CEO to a new organization

C. The new CEO reruns the process again at the new organization

enon said...

Bro

so where will Ahmad Jauhari-the new CEO stand in this case.

he's so quite in MAS unlike when he was in Malakoff.

Ismail Kerbau said...

Appoint Shahidan Kassim as MAHB Chairman. Kita tengok Tony F ada berani ka mau lawan Pak Dan.

Anonymous said...

I can't exactly remember when but it happened when Idris Jala was MAS CEO. There was a heated exchage of words between Fernandes and Idris Jala when the former was denied the special privileges in a MAS flight.

I am,therefore, not surprised if Fernandes were to start scheming against MAS since then.

ZMS

Anonymous said...

SDRA ABITW
Izin saya,

"Enough has been said = I said the most since MAHB got zero chance to reply therefore enough have been said".
Wah siapa yang bagi dia lesen besar kutuk MAHB selepas ambil alih 25 % share ?
Takkan semua AA damage control experts masuk TV kata "kami ta k tau ....
Semua Media tolong serlah kan TSTF dan Air Asia ,saolaah nya macam semua dah hukum MAHB yang orang jahat ke ?
MAS tak ujud lagi ?
MAHB adalah jekai sangat ke ?
Walau apa pun dalam era ini alam maya sudah catit segala nya , dan alam may akan menghukum kerakusan manusia yang tamak dan tak puas hati dan scheming(blue ocean) dan tidak alan puas sehingga haloba nya membeli segala nafsu mau.

Tapi itu adalah lumrah alam.

Soal nya ada tangan tangan halimunan bekerja di balik tabir .
99 % kepunyaan orang orang yang sama juga.....
No To Tony!!!!!
NO To Tony!!!!!
No To Tony !!!!
No To TONY !!!!
(saya ta ada kerete warna putih parkir kat airport)
arjuna waspada
changkat lobak.

Anonymous said...

Hah , pengunjuk rasa Italia reli melawan Berlusconi

Proud to be A Non Loser said...

Tony is the man. shows the Indian prowess in business. Succeeded without any govt support. Where is MAS ??? Ooops sorry, owned by Tony also.

Tiada Melayu hilang di dunia... ,kah kah kah only Melayu airlines

Anonymous said...

MAS staff semua tukang sapu ala Flying Buffet.

Masa TR dia orang kata takpelah sikitje, Masa MNY, terkejut sikit, masa Fuaad tersedar sikit, masa IJ terbangun sikit, masa TAZ, tersedak sikit dan sekarang masa AJ tak heran sikit.

Good bye MAS, dont blame TF sebab you all yang gaiji buta.

He he he good riddance MAS!
Next TF will be the 1st President of Malaysia!

Tukang sapu

Anonymous said...

MAS staff semua tukang sapu ala Flying Buffet.

Masa TR dia orang kata takpelah sikitje, Masa MNY, terkejut sikit, masa Fuaad tersedar sikit, masa IJ terbangun sikit, masa TAZ, tersedak sikit dan sekarang masa AJ tak heran sikit.

Good bye MAS, dont blame TF sebab you all yang gaiji buta.

He he he good riddance MAS!
Next TF will be the 1st President of Malaysia!

Tukang sapu

Wan Shamsudin said...

Najib, pls wake up.....you are dreaming.Next time if opposition win PRU 13, then you will be dreaming in JAIL>

My Say