OUTSYED THE BOX
This deal is also more evidence that the GLCs are really Government's Losing Concerns. The whole idea of the GLCs has to be seriously reconsidered. I still feel Khazanah Nasional Berhad should be just wound up. They are wasting money by the hundreds of millions and cant seem to make a go of too many things. MAS is just one of them.
Can you all recall the movie studio that Khazanah Nasional bought a few years ago. The Mat Sallehs who sold that movie studio to Khazanah still have not recovered from the shock - that they made such a killing from Khazanah Nasional. By the way, how many movies have been produced by that studio, since Khazanah Nasional took it over? Here is an easier question, since buying over that movie studio, how many more millions have been spent by Khazanah Nasional to get the studio "ready for business" ? How are the 'con-sultans' charging nowadays? By the pound of paper? By the thickness of the file?
Since the AA - MAS "share swap" the market price of MAS shares shot up 17% to hit RM1.87. AA's share price went down 13% in three trading days to RM3.45. (These prices are now outdated ok). This means that while Tony's investment in MAS has gained by 17%, Khazanah's stake in AA has dipped by 13%. Again Khazanah has lost money already (about RM260.0 million). Never mindlah - it is only a "paper loss".