Story of MAS shares
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Malaysiakini – Report on ex-MAS’ boss clip: You don’t say no to the PM:
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| So let it be written, so let it be done |
In the clip, the report said Tajuddin alleged that Dr Mahathir Mohamad’s administration had coaxed him to purchase the national carrier at a higher than market rate price.
He claimed that the person who asked him to do so was the then finance minister, Daim Zainuddin, who is now campaigning for the Mahathir-led Pakatan Harapan.
Tajuddin said he was prepared to pay RM5 per unit or approximately RM1 billion for 224 million MAS shares despite the market rate of RM3 per unit at the time, or about RM600 million.
“So I was losing, paying more of RM400 million. The RM400 million if the government wanted to take a loan from overseas at the time, to get RM400 million, ‘bercalar kasut’ (soles of the shoes will be worn out by the amount of walking done to obtain such a fund).
“Here, I am giving RM400 million, ‘sell to me at RM5’.
“After that, nothing for one whole day, next day, Daim says ‘No’, RM8 (per unit)…After he said RM8, I kept quiet, I said I cannot buy (at that rate).
“Then it came out, ‘You don’t say no to the prime minister’,” he was quoted as saying in the clip.
