‘Share Swap’ off, CCF stays

Tomorrow is another day of major announcement. It is expected that the Malaysia Airlines-Air Asia ‘share swap’, inked on 9 August 2011 would be unlocked. However, it is expected that the Comprehensive Collaboration Framework (CCF) between the two airlines stays.

Khazanah Holdings Bhd. will take back the 20.5% shares swapped with AirAsia’s 10% (via Tune Air). It is also expected there would be changes in the board of directors of the two companies where Tony Fernandes and Kamaruddin Meranun would be expected to leave, as their interest in Malaysia Airlines would no longer be valid.

A bleak nine months in Malaysia Airlines' 65 years history

The CCF, is expected to be continued. The terms of the CCF would expected to be on the usual commercial basis. The objective for the CCF is for both airlines to synergise and to achieve the economies of scale, in preparation of the ASEAN Open Sky policy which comes to force in 2015. A lot of areas of mutual interest and benefit to both airlines, could be forged and worked together.

Definitely, Malaysia Airlines tend to gain the most as it has the mature facilities and advantage. An example is the Malaysia Airlines engineering facility, which could cater the maintenance, repair and overhaul (MRO) needs for both airlines. The combined fleet of over 200 aircrafts, could provide the MRO facility to be more competitive and more importantly, efficient.

Several detractors of the ‘share-swap’ deal also saw the benefit of the CCF.

The 20,000 odd employees of Malaysia Airlines were vehemently against the ‘share swap’ and they voiced their strong displeasure to it, which include when their representatives met Prime Minister Dato’ Seri Mohd. Najib Tun Razak. This announcement is a good Labour Day gift for them.

The official announcement would be made tomorrow afternoon.

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Published in: on May 1, 2012 at 18:30  Comments (29)  

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29 CommentsLeave a comment

  1. It is good that PM listen to the voices on the ground but consult and listen before making decisions.

    PM should rid off MAS of the failed WAU team.

    GIve the leadershio to AJ and give him the free hand to put MAS on it’s feet. than giving it to failed executives like Danny.

    Terajang sekali the incomnpetent Azman Mokhtar and return him back to some broking firm to be an analyst again. Semua dia pegang dan labur fail belaka..

    Stop nonsense like CEO long Haul and CEO short haul. There should be only one CEO.

    Danny’s Bina Fikir failed, Maybank INvestment Banking failed, etc. He should be sent back to PW to start all over again as an auditor.

    Lepas ni Tony F should cari gaduh dengan MAHB pulak

    • Dear Anak Korish,

      I agree with you 100%. Azman M (M for mangkuk) has failed so many times and should leave Khazanah immediately. And don’t forget to bring along all his text-book dungus and ex-consultants/ex-analysts like Danny, Ganen, Zainal Shaari, Ben Chan, Hisham Hamdan, etc, out of Khazanah before more taxpayers’ money going down the drain. Azman M can start again his own text-book syok sendiri BinaFucker business, or become lecturer teaching “Corporate Con-job” subject at Uitm.

      • Khinzirnah,
        I agree with you 100% that Azman Mokhtar has failed but why insinuate UITM?

        He should be sent to teach at TAR College because that’s where most conman originate from.

    • The PM must listen to voices on the ground. Otherwise he’ll be losing votes at PRU13. 20,000 disgruntled here, 20,000 disgruntled there are a lot of votes. Including those not belong to any group, perhaps like us commenting here.

      He can’t afford to lose votes. He must aim to get each and every vote he can muster. Of course, he can’t please everybody. But surely the votes of Tony Fernandez, Kamaludin, Azman Mokhtar and the like are less than the 20,000 MAS employees’ votes. He can sacrifice the Ringgits for CIMB for the consultancy business. Nazir Razak must surely already have sufficient for CIMB and other coffers to steer away from controversial “consultancy advice and recommendations” like the MAS-Air Asia share swap.

      True, the airlines must be synergistic. Bloody hell, they must never be competing or even appear to do so. And if there’s any evidence of sabotage, the culprit(s) must be shot. Verbally and publicly at least. MAS is the national airline, for goodness sake.

      Now let’s wait and hear the good news this afternoon. Let’s hope there’ll be no more surprises. Let’s cry out loud again if there are. The PM’s Office must have Officer(s) whose duty is to monitor and advise the PM of pro-Establishment blogs which give out views that may sound critical but with good intentions. Like this blog operated by BD. This blog has been in existence for many years, since the time Tun Dr Mahathir started blogging to try and get Pak Lah to do things right. Let’s do our part by continuing to chip in our thoughts here.

  2. thank you najib, for a bold decision

    • Jgn lepas ni Ular Hitam Tamak ni mintak nak jagi pemegang saham MAHB lak.

      Aku memang tak percaya langsung set set Khazanah ni!

  3. if it is true Alhamdulillah …why must MAS jadi “keldai” Air Asia nak kaya jangan 3,000 pekerja MAS jadi mangsa….all the best to you MAS

  4. Biggum,

    Berita bagus ni!

    Ular Tamak Hitam ni tak da dlm MAS. Patut gerombolan dia pun dihamput keluo sama. Termasuk CFO & Chief Engineer tu sekali. Plane Consult pun dinyah sama!

    Jgn pulak Ular Tamak Hitam dibayar ‘pampasan’, sbb menerima keputusan ni.

    Khazanah ni bukan boleh percaya. Baik Amokh ke, baik Danny ke.

  5. This is a rebuke to Azman Mangkuk Mokhtar. PM should ask him to go. He has done enough damage to this country. There has never been a time where Khazanah has been distrusted so much by people in the corporate world and in the streets. Azman and his boys will add election headache to PM.

    • Setuju, setuju, setuju. Get him out.

      Jangan tunggu lagi. Rakyat tak rasa rugi melainkan depa yang dia sudah bagi. Besar besar faedah pulak tu yang dia beri.

      This is what the Wall Street Journal reported a little earlier on:

      Shareholders of national carrier Malaysian Airline System Bhd. and low-cost airline AirAsia Bhd. have decided to cancel a share-swap agreement signed last year, a person familiar with the matter said Wednesday.

  6. MAS-AA hanyalah satu daripada kelentong Azman Mangkuk Mokhtar yang menyusahkan kerajaan. Lepas ni kita akan fokus on Medini Iskandar Malaysia.

    Dia nak sorok perjanjian busuk berat sebelah dengan Pak Arab kat Medini, dia instigate investigation on Arlida ex-CEO of Iskandar Investment.

    Jual kat Pak Arab 6.00 USD per sq ft, lepas tu beli balik at 8.16 USD per sq ft. Bukan kah bodoh namanya tu.

    Arlida’s husband case actually dah start hearing early last month. Khazanah tahu the case against Arlida’s husband is weak, that’s why they purposely let the proceeding going silent. No press statement, no media release.

    Don’t worry, the Medini deal will be made an election issue in Johor when PM Najib announce GE. Watch this space Amok, it will be.

    • Setuju, lepas ni kita fokus on Medini Iskandar. Jahanam negara kalau mereka yang serong pemikiran atau tak fikir langsung berkenaan kepentingan negara, agenda negara di biarkan beleluasa.

      Mereka yang tak fahamkan politik, kepentingan kaum yang majoriti di negara ini, yang biarkan “the Little Kingdom” di selatan sana dengan senang senang mendapat “hinterland” di Johor, konon, mesti di singkirkan dari GLCs dan syarikat syarikat yang Kerajaan ada pegang kepentingan melalui saham. Atau yang Kerajaan ada pengaruh menentukan CEOnya fahamkan kepentingan negara, agenda kebangsaan dsbnya.

      Not too late for PM Najib to take action. In fact the nearer to GE13 he takes action, the better. Imagine the impact if he whacks a few bloody corrupt big guns or kick the butts of the pengkhianat bangsa kind of CEOs out of GLCs etc a few months from voting. The Oppos (that rhymes with hippos) can’t exploit such actions much but the vast majority of the voters would be pleased and become well disposed to BN at voting time.

  7. Bukan saja Azman Mokhtar yang patut dibuang. Budak kat PM Dept nama Azlin Alias tu pun patut dibuang. Dia ni budak suruhan Azman Mokhtar kat dalam Pejabat Perdana Menteri.

    To the Special Branch officers who monitor the blogs, if you guys have any dignity left, please tell the PM to watch Azlin Alias. Better still, sack him. His loyalty is not to the PM, but to Khazanah.

    • Good of you to get the information, James. I wish you can get the services of Q to provide you all the means to uncover and thwart any unhealthy plans there and elsewhere.

      As far as SB Officers are concerned, I think they usually look at those having political, seditious and subversive implications. The CID looks at the criminal tendencies like on line cheating that was raised at the Senate this morning. Nowadays, SPRM looks at corruption more than the Police, I think.

      It’d be good to know what role that Azlin Alias plays. The “budak” (a she?) can’t do more than relay messages that’ll eventually get to PM’s ears, can she? Perhaps through Tingkat 4 Omar Ong. The one who was “hammered” into Petronas BOD after being rejected the first time. And TS Hassan Merican lost his job.

      Or is Azlin senior enough to be able to advise PM? If so, then we might have to have the services of Gold Finger to have him/ her “removed” from the premises!

      But seriously, I don’t know if it’s the case of a politician trying to please everybody such that people like Omar Ong got into Petronas despite being a Petronas loan delinquent when first proposed to the BOD. But I fear it’s part of an overall scheme of things that we are not privy to. I hope my fears would be proven wrong. And your James Bond services would be very necessary.

  8. Saudara James Bond,

    Boleh saudara terangkan kenapa perlu buang Azlin Alias. Siapakah Azlin Alias? Adakah Azlin Alias makan rasuah? Boleh bagi contoh apakah yang Azlin Alias telah lakukan yang menyebabkan beliau perlu dibuang? Apakah hubungan Azlin Alias dan Azman Mokhtar? Azlin Alias lelaki atau perempuan? Diharap saudara dapat berkongsi maklumat, kerana saya akan segera memberitahu pakcik saya yang bekerja di SPRM untuk tindakan selanjutnya.

  9. Azlin Alias is a guy. He is the Special Officer on Economics, PM Dept.

    His crime – too close to one Khazanah’s snaky Ganendran Sarvananthan.

    He was even quoted in the press as one of the candidate to replace the current TNB’s CEO, a prize for being loyal to Khazanah, perhaps?

    MACC already has a report on him. No need to tell your uncle.

    • Is he senior enough an Officer to be a candidate for TNB CEO? Must be Juwasa B or A. And what about the TNB career Engineers who have been slogging at TNB for decades? Just at General Manager level? Won’t TNB staff make noises if CEO’s post is filled up by an outsider?

      Has there been a precedent in recent times? At one time it was a retired civil servant. Like Arni Arope. Is this Azlin fellow of retiring age? Or nowadays anybody of any age can be appointed to any post? Can I have one, too?

      And how is the Azlin fellow placed as far as the Economic Planning Unit (whatever it’s new name now) is concerned. EPU is also in PM’s Dept. The EPU Director General is very senior, Juwasa A at least. Does Azlin advise the PM on economic matters? Independently of EPU?

      PM’s Dept must be having so many Special Officers. Like the White House. But US has a population of 250 million. And the strongest economy in the world. Malaysia only 28 million. And the …

  10. Doggie,

    Ko ni nujum Pak Belalang aka Pak Bark-Bark la!

    TV3 baru ja umumkan “perletakan jawatan Tony Ular dan Din Lanun dr lembaga pengarah MAS”.

    Tahniah!

    Teruskan perjuangan. Ular Hitam Tamak jgn diberi peluang apa apa lg!

    Hidup MAS! Hidup warga kerja MAS!

  11. And the bitter Tony Fernandes has nothing good to say of “detractors”. Only

    “.. negative detractors who made the most noise .. The selfish attitude of a few has to end at MAS ..

    Even the positive that he uttered was limited to “beauty” –

    The beauty of the last eight months is that I can now see the beauty of what we have built at AirAsia .. ”

    (thestar.com).

  12. [...] Khazanah Holdings Bhd which is the shareholders of both airlines announced the reversal of ‘Share Swap’ six weeks ago, the Collaborative Co-operation Framework (CCF) …. The rational is for the national agenda, where the two airlines continue to work together and [...]

  13. [...] Bashir Ahmad Abdul Majid and got himself in, just like how he got Khazanah Holdings Bhd. for the eight-and-three-quarter-months short lived and now miserably failed ‘Malaysia Airlines-AirAsia [...]

  14. [...] Bashir Ahmad Abdul Majid and got himself in, just like how he got Khazanah Holdings Bhd. for the eight-and-three-quarter-months short lived and now miserably failed ‘Malaysia Airlines-AirAsia [...]

  15. [...] December. And recently in May when the ‘share-swap’ signed on 9 August last year was overturned in a scheme which only lasted 36 weeks, Fernandes threatened to take his operations to Jakarta. It is obvious soon to be largest airlines [...]

  16. [...] Airlines since the ‘share suap’ announced 6 August last year. However, even though on 1 May the ‘share suap’ has been reversed and Tony Fernandes and co. are no longer in control of the national carrier, Wee are still hard on [...]

  17. [...] is not withstanding the fact the Malaysia Airlines-Air Asia ‘share-swap’ inked August last year was over turned on Labour Day. It was Prime Minister Najib’s gift to the Malaysia Airlines’ work force, who were [...]

  18. […] Lucky that Prime Minister Najib saw the wisdom not to follow through the lopsided deal and reversed it back to status […]

  19. […] he often needed to ‘Flip-Flop’ decisions made. Then again the already was a precedent ‘Flip-Flop’ping on the ‘AirAsia-Malaysian Airlines share-swap deal, after nine […]

  20. […] Mohd. Najib Tun Razak has already demonstrated that he could reverse a decision made, just like the reversal of ‘Malaysia Airlines-Air Asia share swap’ which has been proven as a failure in less than nine […]

  21. […] God al Mighty’s grace, the ‘share-swap’ corporate con-job ended less than nine months […]


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