The Malaysia Airlines (MAS) Story: Of Plunder, Abuses and Lies
DIN MERICAN
While the mainstream media and public relations firms spin yarns about the economic, financial and operational benefits of the MAS-AirAsia share swap deal, let me state up front that I am sceptical.
It is clear to me that the plunder of MAS 10 years ago when Tajuddin Ramli controlled 29% of its shares is about to repeat itself with the entry of Tony Fernandes as MAS’s new 20% shareholder. And Tony Fernandes did not even have to pay for these shares. All he did was to swap shares with Khazanah. For every 2 shares in MAS, Tony gave Khazanah only 1 share in AirAsia.
That AirAsia will gain from having Khazanah as a shareholder is clear. They will now have “government” muscle to achieve what they could not before. But let me leave that to the financial analysts to comment and write about.
The so-called “Global Settlement” or Bailout?
I have previously written about the “Global Settlement” that the government-linked companies (GLCs) are forced to enter with former Malaysia Airlines Chairman, Tajuddin Ramli. This Malay tycoon plundered the national carrier to the bones. Yet, to this day he lives in absolute luxury in his ranch at Kuang, which he pretentiously calls Ar-Raudhah or the Garden of Paradise.
That Tajuddin is immune from prosecution should not come as a surprise. This was already to be expected when Malaysia Today exposed that Tajuddin’s proxy, Shahidan Shafie, had gone to Haj as part of AG Gani Patail’s family. In case readers have forgotten,please see the official Tabung Haji document below:
Shahidan’s name had also surfaced in court documents when the “Global Settlement” was first flouted in court. Read paragraph 4 of this document (below) that appeared in various blogs last year. At that time, I had already known that Shahidan is also close to Nazri Aziz and other UMNO leaders. This was convenient to allow Tajuddin to still cut deals without being seen.
