I have another installment of my session with the Oracle to write. But that has to wait because I have been itching to write something on the surprise share swap of MAS shares with that of Air Asia. Surprise to whom may we ask? To the unquestioning public and easily duped masses, comes the answer.
You see Malaysians are easily duped into believing that something of this magnitude suddenly crops out. As if, yesterday those people in Khazanah and the current CEO of MAS who is so forgettable in accomplishments, woke up and realize hey man…..MAS is in a mess.
The mess my friends were created a long time ago, the origins of which can be traced when that ex Shell man took over MAS. He quickly undertook a scorched earth policy, selling off assets and whatever else was salable to clean MAS books. They have a refined term for it- asset unbundling which in reality is just asset stripping.
If you allow us a little permission to shout out loudly, we will say FU!.
Yes, the subject did crop up when I was with the Oracle. I asked him what does he make of Fernandes’s posturing to move Air Asia’s whatever office to Jakarta. In Jakarta the situation is even more chaotic, so that if ever Fernandes thought of the idea of moving there, he must be examined in the head. There is absolutely no commercial justification of moving to Indonesia.
Now with these maneuvers Fernandes has proven one thing. Any peddler of pirated CDs can also run an airline. You got chance, ma…….
When I asked the Oracle about this, he said, watch the next moves. There must be something behind the threats to move out to Jakarta. Has Air Asia settled its debts to MAB? Maybe in return to being coaxed and persuaded not to move out to Jakarta, the PM authorizes the writing off of AA’s debts to MAB or forced MAB to take a haircut maybe even a crew cut ?
Two, the threat was the harbinger of what is now taking place- in order not to move out to Jakarta, the Khazanah Mafiosi, headed by the capo dei capi, Amokh, recommended that Fernandes's Tune Air Sdn Bhd be given a sweetener in the form of ownership and possibly the running of our national asset MAS.
Now let’s ask a stupid question? Can a CEO of your rival company be given a chance to take up position in your company and asked to manage your company at the same time? Isn’t there a conflict of interest here?Or is Fernandes being prepared to take over MAS itself?
The move or its threat to move to Indonesia can be regarded as treasonable or at the mildest, putting the country at ransom. These robber barons aided by the comprador capitalists masquerading as consultants and economic experts, residing temporarily in Khazanah are pushing this country to its limits. The majority shareholders of Air Asia are who? Khazanah and EPF? These are government entities.
So how can our government, kick itself in the groin by allowing Fernandes to even make that statement in the first place? Or was it part of an elaborate set up of mind conditioning? That statement was later attributed to the silliness of the journalists quoting Fernandes or something. That also tells us the mental capacity of the journalists we send to cover stories about corporate moves. If they don’t understand, don’t waste your money sending them.
What happened to MAS actually? I asked the Oracle. The oracle asked me whether I know where Munir Majid, connoisseur of Dom Perignon, appreciator of paintings by the masters spends his time? Most of the time he is in London running MAS from there perhaps.
The Oracle was quite direct when he pointed put, perhaps the sales people in MAS are corrupt people. Those stationed overseas who are supposed to sell seats, especially the 1st class seats which would subsidize those traveling on Y Class are not doing do their jobs. They have been at these places for donkey years and where their children practically grow to adulthood there. The Oracle was quite caustic- you don’t sell the 1st class seats, you don’t make money. You make money only if planes are in the air.
We could have been forgiven to believe that after Jala cleaned house, MAS would be in fighting shape to make profits. That only goes to show, the management team which succeeded Jala is useless after all. Or, we can also be forgiven to believe that actually what Jala did was all sleight of hand con job.
If after Jala has cleaned house the succeeding management can’t get the house in order, the first order of the day, is to give them the marching orders.
Let’s look at what MAS has done? While it is now clear, MAS was making losses, can we find out whether during that time, the MAS big shots together with the endorsers at Khazanah ordered new planes? If yes, then maybe we should send the MACC people to investigate whether the book orders were graced with potential massive kickbacks.
The Oracle says, there’s nothing to making orders for the newest and most expensive planes. It’s a well-known secret in the industry; that massive kickbacks follow such orders. And by extension, there is nothing extraordinarily spectacular when the bosses at Air Asia ordered the latest and most expansive planes.
We shall be writing more about this in the coming days.
Read more here: http://sakmongkol.blogspot.com/