Saturday, August 30, 2008

In Malaysia, Dreams Do Come True ... For Some!

For Binafikir, at least. Azman Mokhtar (pic) was behind this boutique investment adviser agency called Binafikir, which made its mark in the 1990s. With the help of Nor Mohamed Yakcop, now the Finance Minister ll, Binafikir came up with a rescue plan for Malaysia Airlines. Analysts were full of praise of the radical plan. Amokh went on to become Khazanah Nasional boss though Maybank never really did recover. He is in charge of, among others, Government-linked companies like Maybank.
So when Maybank decides to purchase Binafikir for RM8 m and appoints Rashdan or Danny, who is Amokh's partner then, as Aseambanker top gun, surely there'll be raised eyebrows. Blogger Mindacergas thinks that Danny could soon enough take over Abdul Wahid Omar's job as Maybank chief ... Read his Dreams do come true: Maybank, Wahid, Azman, Rashdan, Binafikir.


  1. Then only I know HARI-mau, AHSING-a and BAD-aksumbu....

    Tks Bro!

  2. Anonymous2:38 am

    The UmnoPutras engaging in massive manipulation and rif-offs as feeble minded Malays in the Kampongs are blinded by Utusan Munafik propaganda. Dear, I'm accustomed to this, so there is no worry. We have seen far worse crimes than these.

  3. Anonymous4:29 am

    Mas rescued? My foot. Mas is a shame. A third rate airlines is anytime better.

    Mas Boeing 737-400 fleet is among the oldest in the world. Still using flush toilets.

    Mas in uncompetitive. Keeps cutting routes. Now SIA flies more KL passengers to international destinations than Mas.

    If you're flying to Europe, Australia, Far Rast and the US, you fly free to and fro Singapore on SIA. SIA is a good RM1k cheaper than Mas to most European destinations.

    Mas is dead for me. I can't afford to fly Mas anymore. SIA has become the de facto Malaysian International Airlines.

    Binafikir or binapoket?

    Who supervises Maybank on the disasterous Indonesian foray? Amirsham aka Amir Sham was made senator, minister and tan Sri after running Maybank to the ground. A big thank you for funding Kamal and Scomi.

    Sure Abdullah didn't know even if he was fully awake. But he was more likely to sleep through it.

    But what was Nur Mohamed Yakcop doing? Sleeping too? Another Bank Negara-type of forex fiasco?

    So, I say to you Mr Bru, 2009 Budget my foot. Sounded like the late Ghafar Baba's "jota-jota" that never was.


  4. Anonymous4:52 am

    If you study and work hard; and good at what you doing, surely you will get the benefit. Age is never a factor. Wish there would be a lot of Malays with these kind of professional skills and qualifications. Dont be jealous.


  5. Anonymous7:34 am

    The much talked abt "rescue plan" of MAS by Binafikir a few yrs ago shudn't be given excessive accolades. Amongst the features:

    1. MAS to hire planes frm Penerbangan M'sia Bhd (PMB) at preferential terms (below market rates).

    2. All planes are owned by PMB. MAS doesn't have to carry the stiff depreciation charges

    3. The loss-making domestic service was hived off frm MAS.

    The abv amount to "bailout" of some sorts. The taxpayers paid for MAS inefficiency thru PMB. Given the abv protections frm fair competition, any bizman worth his salts shud be able to run MAS successfully.

    frm: accountant

  6. Anonymous8:29 am

    AMOK was only an analyst at Salomon Smith Barney (which was eventually bought by Citigroup). His job was to cover Malaysian companies. In those days, a bumiputra employed by a foreign multinational would be regarded as a rare resource. Do I think he had the skills and background to manage Khazanah ? Nah.

    This is a country of no transparency, no meritocracy. What you know is of no consequence.


  7. Anonymous1:46 pm

    MAS's rescue plan?? Do you really believe Binafikir came up with the unbundling scheme on its own.

    The truth is, they just xerox the plan drawn up during Tajudin Ramli's tenure following the currency crisis.

    Tajudin's plan was rejected by Anwar Ibrahim who was then Finance Minister.

    Under Tajudin's plan there was no Penerbangan Malaysia, instead there was MAS Capital.
    MAS Capital was to be registered in Labuan for the purpose of avoiding tax. Penerbangan Malaysia as you know is govt-owned.

  8. Anonymous3:45 pm

    Salam sejahtera,

    Can we call the act of diverting liabilities of a company and reassigning them as the ‘Government’s Additional Responsibility’ plus some decorative frills here and there a smart business solution? The Government shouldn’t have given the consultancy service to a company which is “baru nak bina pemikiran’ when there are hundreds out there who are more competent. I’d suggest if we wanna leap forward, let us be prepared physically, physiologically, and smartly. Otherwise we’d be limping to our destination.

    Saya mahu kita bersama-sama memBina Melayu Baru yang segar bugar, tak mahu yang limping to a nearing garisan penamat:-)


  9. Anonymous6:43 pm


    You got it right about Nor Mohd Yakcop. These are Khairy, Kamal and Badawi's moves. Nor Mohd is the errand boy on this one.

    What can Binafikir bring to Aseam? RM8.0 million for what? They have advisory jobs with Malaysian Airports, EPF etc. All the Govt jobs. Maybank makes more than M8.0 million handling EPF's excess funds, lending money to MAB and other Govt outfits. They dont need to buy Binafikir. Period.

    This is another case of the greedy critters putting their paws inside the cookie jar.

    The Binafikir guy will move to Aseam. Then he will jump to Maybank. Watch the next move : one of 'them' will helm Petronas. Then the trinity is complete. Khazanah, Maybank, Petronas. And Nor Mohd Yakcop at the MOF.

    Keep a close eye on the silver. It will walk even faster soon.

  10. Amokh went on to become Khazanah Nasional boss though Maybank never really did recover. He is in charge of, among others, Government-linked companies like Maybank.


    maybank or MAS??

    i believe it is supposed to read - Mas never really did recover.


  11. Anonymous8:29 pm

    Bro. Anon 6.43 pm,

    As a gesture of Merdeka, lets tebas them before they kebas the national wealth:-)


  12. Anonymous8:57 pm


    To Honour and Administer the Malays Brilliant dictate with Fair and Just Rightmindedness. The Pathway a Successful Duty by Commitments. Sparkling upon Sunlit Thinkings well defined judgement the Rational Solutions to Immediate Questionable Issues. The Malays are Attentive always Vigilant possess good circumspect to Service and Help The Underprivileged. Everyone has the comforting Happiness and Lead a Religious Life. Are workers of Immense Mastery with Gainful and Profitable Efforts produce Accountable Results Daily. Malays are Worthy Friends The Merit Value as The Noonshines for The Evening Rest enjoys Companionable Gatherings with socializing feelings The warmth by Praise. As loyal lovers True Loveliness The very Fortune Refinement of the Race is Distinction with Great Cultural Sophiscation. Many are Silat Exponents in Defense The Drilling Art is Practise, Music and Song The Tuneful Lyrical Melody. Upon sensational sweet Melodius Symphony. With Appetizing Savoury The Dishes are True Delicatessens of the Malays. In Prayer The Peace with Everlasting Love.

    Please remember,
    Live & let live

  13. Bro,
    This fler is an asshole...he thinki he is damn bloody smart.My foot!!This people is one of many UMNO-bustards croonies who only have pig brain...look at his face.
    They are the assholes who engineered all under table dealing for top UMNO bustards.These people will be the first batch send to hell.

  14. Anonymous12:04 am

    The possible take over of Binafikir (BF) by Maybank almost fell through 2 years ago. The final huddle was when the Senior Mngmt in Maybank could not bring themselves agree to pay those BF boys the same salaries they were drawing.

    Thus, you can imagine how they pay themselves? FB seems only to do well in Malaysia? One Eye Jack In Blindman's Kingdom?

    Now with Amirsham gone, they finally pulled it through! Bravo! Bet that more BF boys will be para shutting down. There will be lots of unhappiness in Maybank!

    Is Malaysia so short of of talents? Scrapping the bottom? Or just Amokh wanna help his pals?? Wasn't there many cases of pals help pals during Tun's time? What happened? GLC on their knees?

    With latest BII fiasco i.e. the unwarranted rush to pull through the BII deal (even when Amirsham left). Everone was laughing when we heard that we got the rotten egg from Tamasek! Every moves is so ironic......

    Annor, we are not jealous of young successful bumiputras......just that we dont wanna see Maybank be another Sime bank or BBMB. Which will be Malaysia's curtain call!

    Ordinary Man

  15. Anonymous12:47 am

    A bunch of high class swindlers spawned just for enriching those umnoputeras jerks!
    Who really cares about MAS or MAYBANK?
    Where is the toothless tiger ACA ?The poor suckers will be the paying tax payers for the unseen bailouts.

    Old Owl

  16. Anonymous12:25 pm

    amok is just another KJ's budak suruhan. semua tahu itu. his main project now is wilayah iskandar

    mat deris

  17. God, there's too many jealous and ignorant people on this site.

    1. Maybank is under PNB, and directly competes with Khazanah's interest, CIMB.

    2. Mas recently came out number 5 in world best airlines. I think Amok should be credited with hiring Idris Jala in the first place - who would have hired someone from O&G to head an airline co?. Mas did the right thing in cutting their unprofitable routes. And their strategy is to concentrate on business and 1st class have paid alot of dividends. Please understand the airline industry before commenting.

    3. How disasterous was the investment in BII? Highly unlikely that Maybank lose its deposit. Any sensible person who's worked in the corporate world will know that transactions are made on condition fulfillment. If approval is not received hence condition is not fulfilled. The worst that maybank will lose out is the transaction cost, i.e. advisors' fees.

    3. Then we have a typical accountant who don't understand what was WAU. Please read the IM. Yes, it took off the depreciation and Finance charges, but leased was based on market rate. Why was it done, and what made it won Airjournal Deal of the Year (not a Msian journal, but international)? Please read the IM!

    4. Everybody talks about meritocracy, but the moment its a malay chap, everybody say its cronyism. Amok, is higly qualified and a very smart man, a chevening scholar, a cambridge grad, CFA charterholder. He was a senior analyst at Citibank (do people know what is an analyst?) and HEAD of RESEARCH at UBS.

    5. Binafikir provides strategic advisory services. If you look at Aseam, this is the missing link. CIMB don't just do deals, they generate it. Aseam is just a transaction bank so far. Wahid sees this - and when the banking market opens up in 2 years, the like of Citibank investment banker will whip Aseam. Feisal Zahir who now heads the investment banking arm was the number 2 guy for merger and acquisition for Citibank SEA.

    6. RM8 million - small fries - people like Feisal would (was) getting around the US1m mark in Citibank, now they dont just get one person, but a whole team!

    7. Everybody forgot to mention 2 years ago when everyone cried out that BinaFikir wanted to buy Maybank, when it is the other way around. Back then some senior mgmt didn't like the idea, because Danny wanted to bring in the whole team, and this could disturb some 'fifedom'ship there. Now those senior mgmt are no longer there...


  18. Anonymous7:19 am

    if look at it closely u will see one coman factor that all the GLCS
    that cash rich will some make blunder that will lead loss es in 100smillons like simedarbys'adventure with umbtc bank after thier great loss they have cheek to say they their with bakun you tell me they doing it with management ethics or dancing to government tune.u see this got nothing to do about malay lesness it it is more umno politics can enlighten us when the government bailout stAR PUTRA AND RAPID WAS THERE ANY MISMANAGEMENT. WHEN NOOR MOHAMED IS GOING TO LET US KNOW WHAT ACTON HE IS GOING TAKE ON .

  19. Anonymous10:30 am

    Dear maf,
    Nobody is against people with talent, but the way things is done through the backdoor smacks of daylight robbery! period! Why should favoured people get the juices .Why not in the open!
    Sorry you are still day dreaming with Mas being no 5 in world's rating.Ae you kidding
    us?It's no better than those Russian federation airlines.
    Look ! ONE CAN EASILY FORM A BUMI TEAM , get your connections right with those umnoputeras and the rest is easy.
    Lets say it is one way to speedtrack the bumi talent at the taxpayers expense.what will happen if the government connection is none?


  20. Anonymous11:46 am


    You are the ignorant one. RM 8 million is of course small potatoes, but what was the initial asking price for Binafikir ? RM 58 million ?

    Amok a smart chap ? Nah, he's an ordinary chap, no smarter than the hundreds of other Malaysians working in investment banks in Singapore, London, New York and Hong Kong.

    MAS a success ? Look at the share price. The market is not wrong.

    Nothing wrong with the credentials of Danny. He should run Aseambankers because he is smarter than all those available in that dinosaur organisation.


  21. Anonymous3:32 pm

    Binafikir deals were mostly given on a silver their god father - Nor Mohd Yakcop... but I'm not sure of KJ's involvement.

    Ask Rapid KL about the monthly RM200K that they paid Binafikir for a duration of 2 years (total RM4.8Mil)...Look at the mess in our transportation system today!!!!!! And Binafikir committed not even one full time person on the job for that kind of monthly fee.

    Ask those running PECD, where Binafikir is/was doing their restructuring, about how they were arm-twisted by the MoF2 into giving a RM4mil mandate to Binafikir while the cashless company has no money to pay their suppliers and one of their employees was even jailed in Dubai for issue cheques with insifficient funds....And the last i checked, the ailing PN17 company is still trading at 3 sen per share...

    MAS had to be re-rescued by the new management team headed b Idris Jala. When Binafikir was there shuffling papers resulting in WAU, no emphasis was given to the operational issues, which was the key problems in MAS...

    MAF... from your point form writings, you seems to know 'a bit'. My advise to you my friend, look deeper,... Don't just swallow what I've mentioned here, check the facts of the few points i've posted here(there are a more), ask friendly people you know in the mgmt of PECD, Rapid KL/ Syarikat Prasarana, MAS, Ministry of Finance... ... and you will see why this whole thingy is a con-job orcastrated by MoF2 and his boys!!!


  22. Anonymous8:58 pm

    maf, bet u to my last dollar that Maybank will lose the deposit....... or bigger losses of the deal goes thru!

    Ordinary Man

  23. I grow tired...esp since its Ramadhan.

    But people here speak without basis and I guess it's their free voice to do so. But without rationale and evidence, words means nothing.

    1. I'm not dreaming of MAS rating, hey I didn't give it. Go check the Skyjournal result!!! It's an international recognition, not mine. If you are not happy with it, write to them.

    2. What favouritism is done here? A bank needs a strategic arm, and it decides to buy one. I'll admit connections do open doors, but it do just that. Ask Nazir Razak. The rest lies with intelligence and hard work. Is it wrong that it is a BUMI company?

    3. I dont know what credentials are normal or ordinary. I dont know how many chevening scholars are there, or how many cambridge grads are out there. One thing is for sure, you can look at the investment banking world and a majority wont have these credentials. Is that normal then?

    4. MAS share price is a reflection of the airline industry. Don't just look at MAS, take time to look at others as well. BA is not doing well, Zoom just went bust, even Ryanair prices are wobling. Its the industry mate.

    5. To gua - I suggest you check your sources. I would think I know more than you think ;).
    a. There was almost 2 full time staff working on Rapid. It's objective was to make Rapid a viable business, and self sufficient. The mess in public transport happens before RapidKL, when the govt decided to have 3 different operators. Now the govt has managed to pull it back together. If you want to make public transport work, use it. RapidKL has almost 1000 buses but only deploy 60-70% of that because there isnt enough ridership. The trains are pack, but only for the Kelana Jaya (putra) line. Star still have some 30% utilisation capacity. The problem with Putra is that it needs additional train, and it takes 2 bloody years to get one - way before BinaFikir even adviced RapidKL!.

    b. I won't comment on PECD, because I don't know.

    c. Again, you don't understand WAU. It was a financial restructuring to allow MAS to continue to operate. MAS would have gone bust, and the conditions for owning airplanes and landing rights needed some financial ingenuitiy. Once that was done, it is entirely up to MAS ops to get it right. BinaFikir was not employed to do an operational turn around.

    6. I know there are people who envy BinaFikir, and I guess it's their right to do so. This is same people who where protecting their own interest in these organisation that we keep on suggesting are inefficient. If they are good in the first place, they won't be looking for help.

    7. A different topic altogether, I know people hate bailout - so do I. And I think it is right that if management get it wrong they should be sacked, and if possible prosecuted. However, I would stop short from not bailing out GLCs, because the fundamental impact to the economy if one should fail is huge. The biggest bailout so far happened in US, and even then they realise if funds life Freddie Mac / Fanny Mae were to fail, the whole banking industry could collapse - which means the whole economy would follow suit. Again, I'm only discussing the morality behind the act of bailing out.


  24. Ordinary Man,

    I'm not a betting person, but don't think Maybank will lose its deposit. The business world is more civilised than you most I think, they'll incur the transaction cost.

    On wether it will be a bigger losses, I think not as well. If the business world listens to politicians, it will go bust a long time ago. The same with Indonesia, I know their politician don't like it, but they need us as much as we need them. BII is one of the smaller banks, but with huge growth potential.

  25. Anonymous12:50 am

    Mira, trust me as I do not bear grudges against smart / hardworking guys of any races as I worked with many of them. Just that we got tired of the many looting in these many years!

    I must admit I enjoy intelligent debate and hope to see you more often in Ceowatch!

    Ordinary Man

  26. Anonymous1:29 am

    Money is power.Therefore I appeal to all capitalist worldwide to unite!!

    "Capitalists of all countries unite! Unite!! Let the minority-workers' classes tremble at a capitalists' revolution. The Capitalists have nothing to lose but to gain freedom and liberty. They have a world to control!!"

    "Control oil, you control nations, control food, you control people, control money, you control the world"- Henry Kissenger, ex-Secretary of State of USA, 1973-1977.


  27. Anonymous8:56 am


    What so great abt WAU? In finance undergrad book, they call it "Sell and Lease Back". Its the same thing but sophisticated by virtue of size. Its mere financial consulting con jib!

    Azman Mokhtar penipu ni nak make money out Maybank. What so big deal abt Binafikir?

    Like Ethos consulting, they are just applying influence to secure fee. As an example, they are being paid a wopping RM200,000 a month to prepare so called paper on public transportation. That finding is meaningless but mere replicating MOT's work. What bullshit!!!

    How do you value Binafikri with aset of chairs, table and computers? Valeu people? How long will they stay with the company? Amirsham reject the last time they talked of M&A. Over valeud and not justified!

    It's the raping of Maybank people. Wahid is forced to rape Maybank for them.

    Amirsham benefit to be a Minister who is afraid to be asked questions! Why is Amirsham sp bloody silence on BII issue??????????

    You dapat commision berapa, Mira?

  28. Anonymous9:03 am

    Feisal Zahir the guy supposedly to head Aseambanker's investment banking team is another student that stood up to Mahathir to step down when he was a student in UK.

    Remember the other guy who dare did that? Yes, it was Khairy.

    He is another Khairy clone. Will be wrecking Maybank to pieces. Is it Maybank's turn to be pundered. We've already seen BII scandal!

  29. Anonymous10:44 am

    MAF, you have it spot on. These people can't even bother to check their facts. BinaFikir is only founded in 2002, not in 1990s; and as you rightly pointed out, Maybank is controlled by PNB, not by Khazanah.

    I get really frustrated when this type of silly mistakes are made.

    Rocky bro, please do correct these facts on your blog.


  30. Anonymous11:20 am

    Dear Mira,

    It didnt take a cambridge or oxford graduate to build the like of Genting Bhd or Al-Bukhary Investment to go sky high. The point is, a corporate success lies in the National Vision and Mission of the Business whose main stakeholders are the Rakyat like us. It takes the art of balancing between national interest and corporate objective where the end result should be a 'Win Win' situation. Having to reassign liabilities of a business entity to the 'Government's Responsibility' isn't a smart decision at all - or do you think so? If that's the smartest way then I can form another Binafikir to be a corporate rescue outfit - shifting and shuffling papers and finally transfer them to the Government and the Rakyat - that easy? In conjunction with the month long Ramadhan let us ponder and accept the fact that what is right is right and what is wrong or else Allah will let us to go through the wrong path all along. Its never to late to correct our past mistakes, but firstly we must submit - submit to the Onenes of God!



  31. Anonymous11:25 am


    ask people in Rapid/ Prasarana/ MoF and all the bus and LRT riders to authenticate my arguement that Binafikir did a lousy job. That project started in 2004/5 and we are now in 2008 and things are still in a mess. Recently, MoF wanted to re appoint Binafikir for another 2 years before the good people in Rapid KL put on a much stronger resistence this time around.

    And don't tell me Binafikir has real transportation expertise apart from shuffling paper. You yourself pointed out that the objective was to make Rapid a viable business, and self sufficient. It requires hands on real industry expertise to handle such project..Go to their impressive website and please point out who in team are real operational turn around experts? You see, entities like MAS and RAPID needs operational experts, not financial and strategic consultants. Their problems are in Human resources, operational turnaround, sales & marketing etc. which effectively means smart "arm chair critics" and "paper shufflers" will naturally not do a good job. They need real bodies like Idris Jala and a real hand on team who really knows that industry.

    And the frustrating part is that after everything said and done, these consultants would typically turn around and blame the internal people and ask for another round of mandate from the powers at be... at RM250K per/month and put two guys with 5 years experience in auditing/corporate finance/banking in charge of the assignment...


  32. People talk about shuffling papers without understanding that papers do make a difference to business. I have challenged people to read the IM on WAU, but NO ONE, yes, NO ONE would get back to me on it.

    1. Sell and Lease Back is easy, but what about landing rights? If you don't know what I'm talking about - go read the IM (Info Memo).

    2. Do you understand valuation? Book Value, EBITDA multiples, NPV, etc? Read up first. A value of RM8 million is small. Lets say BinaFikir does get RM200k per month that means RM2.4m per year, and if they have 3-4 projects a year that means the revenue multiple is just 1x. Quite a low price if you ask me.

    3. Amirsham didnt 'reject' last time. Who do you think propose it in the first place?

    4. Kalau dah dengki...dengkilah (There is NO point insinuating I'm getting paid for this!). I am not even working in Malaysia at the moment, but I know the boys at BinaFikir, and I know their clients as well. People talk alot of bollocks because they don't know what is happening, or they think too highly of themselves and refuse to understand the issues. It seems pretty clear people here don't understand valuation nor how to read an IM. (And BTW, I dont follow typical Malaysian banks valuation based on NBV - utter ridiculous)

    5. People ask what so great of having Ethos and BinaFikir - I ask back - what so great about having smart and qualified people to advice you? In the age where we are looking at meritocracy, getting rid of cronyism, when the right people are staring at us, we tell them "I don't need you". WHY?

    6. So what if Feisal did went against Mahathir (I cant confirm he did), bear in mind it must have been 16-17 years ago (sorry bro, not KJ's group). I did as well 10 years ago when Anwar was imprisoned - which I thought was utterly wrong - but I dont stand for Anwar today. I stand for what is right.

    7. I agree that it didnt take an Oxbridge grad to build the Bukhary foundation or Genting (though the earlier one had alot to do with connections ;). But when you see sharp people and their desire to do something for the country, even it means getting RM200k for a consultancy job (you'll pay RM5m to get Mckinsey or a foreign IB outfit to do the same) which you have to break the bones of your body to do it, working until 3-5am in the morning - I have huge respect for these people. Anyone here willing to take a paycut to commit themselves for the nation interest? Just like Wahid Omar or Amok did?

    Zaib - like I said in my previous post, I am not here to discuss bailouts. People call in the consultants when the shit hits the fence, and they come in to rectify the problems. I agree, lets call a spade a spade. BinaFikir didnt operationally turn around MAS, they were called in because MAS was facing bankruptcy due to failures in their covenants and need financial restructuring. The govt wasnt willing to let THE national airlines go bust, but there were structural issues with the debts that prevent a simple solution. In the end, PMB ended up with the planes and debt, but the monthly repayment still came from MAS - which means no one was worst off. PMB entered into the finance leasing industry which is more or less the same as any airlines leasing planes. Simply put, if MAS could sell off all the airplanes and immediately lease it back from another airline leasing company it would have, but rules on landing rights, etc prevented it from doing so. AGAIN, go read the IM. If you like to discuss bailouts maybe you can ask rocky to setup a forum for it. I'm no fan of bailouts, but sometimes it becomes necessary. But it doesnt mean the person responsible for the crap walks free.

    Gua - who you want me to authenticate with - coz I will. I know the CEO of Prasarana to the CEO of RapidKL, and the boys in MoF. The project that started in 2004/05 was towards the formation of RapidKL and their strategies, BinaFikir was not an operational advisor till about 2 years ago. If you talked about hands on industry experience, the company was run by industry experts and was badly bleeding. My experience with these companies were that those people who claim as 'industry experts' seems to show more of a lack of common sense, and a CAN'T DO attitude, like introducing ridiculous fare structures and not testing to see whether it covers operational expense, or neglecting maintenance to cover down time instead of ensuring proper preplan. If I am not mistaken, the chaps that were on the RapidKL projects were working on the transportation industry before - so are you sure they didn't have operational experience? ;)


  33. P/S: Idris Jala was from O&G. But Amok was good enough to see his potential.

    What did the people say when he appointed an O&G expert into an airline industry?

  34. Anonymous9:31 pm

    I quite agree with you and I know where you are coming from. There are too many people in here who doesnt know stuff in detail but merely speculate and very likely acquire info from disgruntled 3rd parties and relate them here.
    However, one thing i know though, and this is from personal level of interactions with both Abdul Wahid Omar(aka AWO since our student days)and AMOK, a little humility would go a long way. AWO should be less arrogant and not think he is always right or the smartest in the room amongst subordinates, peers, suppliers and it when he was in UEM, TM, Tabung Haji Investment panel or whatever board he is in. And AMOK, he needs to give due respect to heads of GLICs and GLCs and not use political muscle from MK2 to get things done when others have differing opinions that may not be totally wrong. This cld help reduce their negative persona...Cheers!
    - Not from Cantab or Oxon...just LSE

  35. Anonymous1:06 am

    I might not know their personality, but I give these people some respect because what they are doing are not for personal gain. If they step on other people's feet, I'm sure its unintentional.

    BTW, AWO does come out as a bit arrogant, but sometimes I guess it because he's a man on a mission, and just wanted things done. Not that I agreed on a few of his decisions...


  36. Anonymous8:11 pm

    I wonder how Air Asia turned around Pelangi Air into what it is today. Were there any Government money into the rescue plan?

    At the end of the day it is the business fundamentals that we have to look into thoroughly and not just WAU or Wow!

    Wow its not wonderful when I have to fork out more from my pocket for a service rendered by such companies.


  37. Anonymous11:52 am


    Whilst I sympathise with Mira, sometimes the facts don't tell the whole truth.

    The present: Since Binafikir took over Aseambankers (now known as Maybank Investment Bank), the public is still waiting for just one single new IB job that Maybank-IB can say was brought through Binafikir. And waiting.

    This is the only yardstick of success or failure that should be levied on Binfaikir.

    In the meantime, all jobs still go to CIMB. Whilst AmMerchant, RHB & OSK fight for scraps at the low-end of the market. Just look up corporate submissions. (PS: Discount all Syed Mokhtar-linked and Sarawak-linked transactions as the guys who brought those relationships have left.)

    The past to present: About WAU~ If you bothered to speak to MAS' current and ex-employees, they would tell you numerous identical proposals were already on the table long before Binafikir was formed. I'll take their word for it.

    In the meantime, Binafikir and now Maybank-IB is still busy trying to flog 'discounted cash flows' and 'right valuations' to MAS. Meanwhile, the sharp but politically correct Idris Jala keeps Binafikir sweet but has correctly channeled more capable internal resources into doing the two things MAS have been failing at: (1) sales, and (2) efficient operations. Again, don't just believe me, ask MAS.