MAS AirAsia Story - Some Notes

MAS has been saved by the corp GURU?

WEE CHOO KEONG

• Before the share swap was announced on 9-8-2011, the previous MAS Board didn’t know anything about the negotiations of the secret share swap resulting in YM Tengku Azmil and a few others Board members resigned in “protest”
• When question was put: why the share swap was based on market cap of 5-8-2011 and not net tangible asset (NTA)? The reply was: JUDGMENT CALL! What a brilliant reply. 
• Was the sponsorship of RM18 million for QPR home jersey by MAS, when MAS was bleeding, on 16-8-2011 [7 days of the inking of the said secret share swap was of benefit to MAS or Tan Sri Tony Fernandes, who is the co-owner of QPR?) 
• By the way, Tan Sri Azman had declared to the bloggers on 16-8-2011 that “AirAsia X Sdn Bhd is a DODGY DEAL!’ 
• To cater for consumers choice? With En Mohammed Rashdan Yusof (Rashdan) cancellations of many Firefly full load flights during the recent Raya season causing great inconveniences and heartache to about 7,000 “balik kampung” rakyat, termination of Firefly profitable routes from JB to Kuching and KK from 25-8-2011, termination of MAS profitable route to Bandung from 3-10-2011 and stopping the Firefly expansion plans under YM Tengku Azmil and Datuk Eddy Leong. Who are on the Collaboration Advisory Panel?

• Tan Sri Azman Mokhtar also told PAC: “The Collaboration Agreement does not give rise to any commitment to collaborate until anti-trust analysis has been completed...If the said statements are anything to go by, all the said decisions of cancellation of Firefly and MAS routes, and the shelving of Firefly expansion plans have been done without approvals from the Malaysian Anti-Trust Commission, which will only come into effect on 1-1-2012. Then the said decisions should be rescinded forthwith.

(What a great idea from Tan Sri Azman! Tan Sri Azman had said on 16-8-2011 that AirAsia X Bhd is a DODGY deal!)