When the 12 point recovery plan was announced in September, this blog's response was "Frankly, it's the same 'ol shit from Amokh". Not only that, it could be the same bunch of shit stirrer.
Having read back this blog's old posting of December 2011 [read here], Tan Sri Tony Fernandez's Air Asia could return to take up stake in MAS when Khazanah exit on their investment? If not, another merger is possible should the Air Asia-X disease spread to other parts of Air Asia [read here and here].
In the meanwhile, Bigdog made another interesting revelation yesterday. Not only the same bunch of shit stirrers but more of them. The Khazanah know-nuts left it to know-nuts "con-sultans" to do day to day hand-on business and operational turnaroound.
It just shows something we've been telling for many years.
Khazanah know nuts about business and operations thus should not be expected to turnaround companies. They have failed many times. They are just screen watchers and most of the time, yak yak away with their reports, powerpoints and numbers.
One can read it in his blog here but let us try to highlight the main points.
Development in the restructuring is getting unnerving given Khazanah poor track record in turnaround.
MAS Bhd Administration Bil 2014 was tabled in Parliament. What's the details in the Bill? "...shall carry on other businesses as its board of directors sees fit."
Christophe Mueller announced as CEO for newco. Given Khazanah track record, maybe it is not a bad idea to bring in an airline turnaround specialist. But, what would be is his term of condition?
Is it to carry out as per consultant style plan as before?
Upon turning private, Khazanah went on a "typical ‘McKinsey’ plan of corporate recovery, which include slaughtering, skinning, deboning and eventually mincing the one time sacred cow in the skies of many Malaysians."
It was similar to Azman Mokhtar inspired WAU which ended costing more money to lease from PMB. Furthermore, the leasing company, PMB also lost money [read us here].
After Dato Idris Jala, new CEO Tengku Dato Azmil plan to rebuild fleet was scuttled by the 24 hours removal. Today MAS is saddled with old gas guzzlers.
Bigdog, the ardent defender of Tengku Azmil felt it was done to make way for the consultant model for the failed collaboration with Air Asia. That was for the "decapitating and systematic and structurally dismembering the national carrier".
In the meanwhile, Khazanah had appointed five or six "Con-sultans" in the "preparation for the “MAS Recovery Plan” as well as coming up with the ’12 point plan’."
But, "non amongst the partners, managers and worse of all, the young kuchirats" have the "relevant experience of working with and/for an airline before".
"They have established themselves almost permanently parked and calling the shots as part of the ‘Restructuring Management Office’ within the corporate HQ of Malaysia Airlines.
Their modus operandi is very funny. They understand very little of the operations of an airline, let alone Malaysia Airlines. However, they do not present themselves to each operating unit to understand or even do a technical audit of the work and the operation program.
Instead, they go around in other departments asking what they thought of the department or operational function that they intend to understand and restructure."
These "arm-chair" consultants practically "map out their New Co. on a large sheet of paper and brought some of the senior management and technical professionals for consultancy and interview."
"In one of these sessions, one senior technical professional made a damning simple comment after three hours of consultancy, “I don’t really care what you people are doing and what this ‘New Co.’ is all about. My question is, I don’t see any of you people mention the sentence ‘Application of an airline license'”."
That was a good one.
"None of these consultants actually realised that they need to apply for an Airline Operation Certificate (AOC) from the DCA for a company to be allowed to operate as an airline and carry commercial goods and passengers."
Will the New Co. "be able to play play the five role and expectations of Malaysia Airlines System (later Malaysia Airlines)? with these bunch of rats gnawing on the pumpkin?
Under "a team of Malaysian entrepreneurs, airline professionals and managers and proud workforce", it could be achieved.
MAS's predicament in the late 1990s was not because of "poor planning, mad management or sloppy operation. It was the affect of the 1997-8 Asian Financial Crisis (AFC 978)."
For that matter, the mamak conman Deputy Chairman too.
After all, Khazanah had being transformed systematically into something different from it's original intended incorporation.
Make sure it is a Scottish with a McKinsey surname.