Why Idris Jala did not reveal and financial press not ask MAS operating loss?
By Another Brick in the Wall
It is impossible for the financial press to not ask about MAS operating profit. Unless MAS has transformed the company's core business into jet fuel arbitrage, the operating P&L remains relevant. Hmm … MAS a jet fuel arbitrage company, that's a niche business idea.
It is from the operating profit that cashflow is generated to maintain the company as an ongoing concern and eventually turnaround MAS. Operating profit will translate into the net profit, God willing could be used to reduced any accumulated losses. Without operating profit, MAS will continually be sucking money from Treasury.
P Gunasegaran wrote here on similar issue raised in the previous posting. However, he did not picked up where we left off. Kalimullah's contemporary should ask why Idris witheld the information and the financial press including The Star did not ask?
It is simple. In fact, Idris used the same generic corporate trick before. By witholding the operating loss, the financial press will highlight on "capital gain" from hedging revaluation. Still, why did he do it?
Read more at: http://anotherbrickinwall.blogspot.com/2009/08/why-idris-jala-did-not-reveal-and.html
