Thursday, December 09, 2010

Pos Malaysia gets white knight

SYED MOKHTAR TO THE RESCUE. The world's richest Malay has emerged as the odds on favourite to capture Khazanah Nasional Bhd's 32.2 per cent stake in Pos Malaysia Bhd. 

A decision on the sale is expected soon. It could cost the tycoon, whose family hails from Bukhara in modern day Uzbekistan, about RM700 million.
 
Syed Mokhtar is experiencing a renaissance of sort, after being kept out of the loop by the Abdullah Badawi administration. 
 
It hasn't been a good year for Pos Malaysia, being hauled up by the Parliment's Public Accounts Committee. Syed Mokhtar will be expected to do what he has done in DRB-Hicom -  haul up the deadwoods, and turn the rank and file into a fighting force ready for war! Syed Faisal Albar, a former CEO of NST, is the current group MD of Pos Malaysia.

50 comments:

  1. Anonymous7:40 pm

    Bro, before people said Syed Mukhtar hails from Yemen. Now you say he is from Bokhara. The family hails from Uttar Pradesh in India. Just like Kalimullah. All Malays. Richest Malay is Sultan of Brunei. Najib is also rich. He has RM. he he he.

    ReplyDelete
  2. Anonymous7:42 pm

    Khazanah is disposing its stake in POS Malaysia because the investment arm of Malaysia has zero confidence in POS Malaysia or because Khazanah badly needs cash?

    ReplyDelete
  3. TSM, The man with the golden touch again.

    ReplyDelete
  4. Anonymous9:32 pm

    If his family hails from Bokhara, how is he a "Malay"?

    ReplyDelete
  5. Anonymous9:33 pm

    No other people kar ???

    ReplyDelete
  6. Anonymous10:09 pm

    Syed lantik syed. Main kroni jugak....

    syed maju syed mundur

    ReplyDelete
  7. tok...TIADA YANG INDAH DALAM HIDUP INI DARI MELIHAT MALAYSIA BAHAGIA..

    30 tahun akan datang semua GLC ini bakal di miliki oleh syarikat ASING DI PERSISIRAN PANTAI (TRUSTEE).
    Syed Mokthar .Ni SAYA BERSETUJU.CUMA, PASAN SAYA KEPADA NAJIB JANGAN SAMPAI KITA KALAH PRU 13/ SEBAB NYA
    1- 30BILIION LRT UNTUK BINA PURI
    2-WALAUPUN SYED MOKTHAR JADI FUNDER KEPADA UMNO..SATU SAHAM PUN TAK NAMPAK NAMA SYED MOKTHAR.
    3- PLUS.PUN SYED MOKTAHR

    TOK..SAMPAI KAN SALAM DAN PESAN UNTUK PM.BAHAYA MALAYSIA NI.
    JANGAN SAMPAI MALAYSIA MOF/SYED MOKTHAR/...SAD BUT TRUE.

    APA LAGI YANG SYED MOKTHAR CARI. KALAH DIA CARI ALLAH. DIA DAPAT DAH/ CUKUP CUKUP/ MALAYSIA BUKAN MILIK SYED MOKTHAR.

    SALAM UNTUK SYED MOKTHAR. DAN NAJIB.

    TOK MALU TOK... BUDAK DI MOF KATA .SYAD MOKTHAR DAH JADI TUHAN DI MOF TU. MK2.KALAU SYED MOKTHAR MAI DIA TAKUT MENGALAHKAN DIA TAKUT KAN TUHAN>tok DEMI ALLAH SAYA SUKA SYED MOKTHAR KAYA RAYA.tapi kita kena tanya syed mokthar.di mana dia simpan harta pusaka malaysia..????

    tok

    ReplyDelete
  8. Anonymous11:35 pm

    Syed Faisal is one of the deadwood in Pos Malaysia. PERIOD.

    He brought shame to NSTP and took it with him to Pos Msia.

    ReplyDelete
  9. Anonymous2:39 am

    Syed Faisal is a marked man, if SMAB gets POS Malaysia.

    ReplyDelete
  10. Anonymous4:14 am

    Not everybody would have the guts to pull this off given the baggage POS M'sia has...union and all.
    For S.Mokhtar, it is very synergistic and a key component of logistics for his greater scheme of things in logistics.This is the most efficient LAST MILE yet to exist in Malaysia.
    I sincerely hope that he would apportion a percentage of POS to the employees to take ownership and together share the benefits of and build it to be a Business we Malaysians can be proud of.
    The business model is there around the world like UPS, Deutch Pos- DHL,Dutch Pos and even Pos Canada.
    All the best Tuan Syed.

    ReplyDelete
  11. just curious, since when he is a Malay?

    ReplyDelete
  12. Anonymous5:19 am

    This guy is just a corporate raider. He buy and strips asset of distressed GLCs.

    ReplyDelete
  13. Anonymous6:20 am

    Ladies n gentlemen,
    Be prepared for another round of postage cost hike...just like the sugar price :(

    ReplyDelete
  14. Anonymous8:59 am

    ... the posting industry is a rough gem that need re-polishing. I do believe that in my own personal views. Best of luck to Tan Sri Syed Mokhtar and I for one person will be watching with interest of how it can be uniquely turn around again ...

    ~ Tecboy ~

    ReplyDelete
  15. Anonymous9:31 am

    Pos Malaysia TO be rescued!!
    Did any Chinaman mess it up?
    Or any Indian fellow mismanage the organisation?

    One can clearly see that this is yet another effect of giving priority to the Ketuanan spirit in the wrong place.

    Was an ex-media guy the right choice earlier?

    When millions are mismanaged under Ketuanan the government just manages to clear the mess.

    This is the right way to use the rakyat's recources I suppose.

    PARAMESWARA

    ReplyDelete
  16. This is the same man who is proposing to take DRB Hicom private. The same man who monopolises Bernas and owns a fair chunk of the Iskandar project.
    Rocky - if one looks at his debt level accumulated to acquire all these projects the quetion of sustainability arises. How long can he sustain the debts when his cash flow does not meet the interest payments?

    I thought Malaysia was moving away from concentrating economic power into the hands of a few - or in this case the hands of one man.

    ReplyDelete
  17. Anonymous10:24 am

    Dear Dato' Rocky,

    "the world'd richest Malay".....is this a fact? If it is, I'm really proud of Tan Sri's achievement.

    ReplyDelete
  18. Anonymous11:25 am

    maaf, tapi tuan tengok tak asyik orng dan kumpulan yang sama diberi peluang. orang melayu lain tak de ke dalam malaysia ni? kerajaan dah sengket sangat ke nak khazanah dispose holding dalam strategc company. apahal, bagi la peluang anak muda melayu yang berkaliber manage lah,kerajaan bantu la dari segi kewangan. ini kes nak campak kepada seorang "one basket". besok bila dah tak larat hutang terlalu banyak, jual kepentingan ni ke bangsa asing.. tuan tengok, padi- diswastakan, kepentingan bernas dibeli ornag luar, kena beli balik, dengan harga mahal.. this is an act of treason la tuan... sama juga sekarang ni talent corp. nak pancing orang balik malaysia. orang2 yang tinggal diluar tu semangat dia pada RM saja tuan. di Malaysia berjuta TALENTED, QUALIFIED and untap pontential, bersemangat kebangsaan bagi la chance kepada mereka ni. sibuk nak cari talent kat luar negara,.. wasting money and resouces.kalau macam tu, baik tutup semua universiti2 dan kolej2 dan institusi pengajian tinggi dii Malaysia. Import semua pekerja mahir dan terlatih dari luar. tuan fikir dia orang ni iklas ke ? maaf, bahasa rojak, pass form 2 saja tuan..

    ReplyDelete
  19. al-Deen amin11:56 am

    Strange that a monopolistic entity can fail miserably. Something is not right somewhere. Is Khazanah itself the killing giant?

    To rid off the deadwoods millions need to be spent after their squandering. The culprits are not bothered for bailouts will come. They go scott free! Life is easy for them in this ethereal world.

    ReplyDelete
  20. Anonymous12:39 pm

    Syed Faizal shld b sacked and charged by the MCMC. He is a legacy of the age of Bodo. His DNA is Kalimoolah and Keling Jamaludin.

    ReplyDelete
  21. Anonymous3:11 pm

    Lage Syed Mokthar, bile pulak anak Naza nake naik . . .. . Tidoqkah, si mamat bertiga tuuuuu

    ReplyDelete
  22. Anonymous3:17 pm

    If Syed Mokthar gets into POS Malaysia, and when he checks about Transmile, he will find out that Transmile major revenue churner into China was the transport of drugs to the mainland. what will he do then??????

    ReplyDelete
  23. Anonymous4:15 pm

    Memang bagoss kalu KN jual. Anu x chaya sama Amokh

    ReplyDelete
  24. Anonymous4:21 pm

    Latuk Locky: Syed Mokhtar is reinventing himself again, with the help of people like u. His family is not from Uzbekistan lah. His origins are from Yemen, the Albukhary clan. Of course he will try to deny this now.

    Godfather

    ReplyDelete
  25. Skilgannon10664:41 pm

    So Khazanah is not up to conducting an open tender for the sale of their stake in Pos Malaysia?

    Where's the transparency that the PM is talking about?

    ReplyDelete
  26. Anonymous6:56 pm

    White knight? Really ah? I thought kiri, kanan, depan, belakang semua dia dapat sebab baik dengan orang tertentu. Whats so white about this knight?

    ReplyDelete
  27. http://selangor-umno.blogspot.com/2010/12/skandal-timbalan-menteri-dengan-pegawai.html

    ReplyDelete
  28. Postal rates were raised again this year, in some cases by 100% when they had to write off hundreds of million in their investment in now bankrupt Transmile Plc (where Ling Liong Sik was Chairman and allowed to resign from the fiasco without being charged with dereliction of duties!!).

    Yet it looks like Pos M'sia can't make a decent profit or return on capital. So, the Taxpayer is being ripped off again.

    Also, why are we perperuating more monopolies and creating more monopolists? When this Bukharan or Indian or Uzbekistani takes over you can bet postal charges will go up again!

    dpp
    we are all of 1 Race, the Human Race

    ReplyDelete
  29. Anonymous10:49 pm

    Pos Malaysia is profitable and do not need any white knight. It is only khazanah that wants to dispose it's shares. Anyone can offer to buy those shares. Syed has done a good job there.

    ReplyDelete
  30. Apo kaba dan salam rocky'bru..

    1. Kita tanya para pengomentar sekelian dan pelawat-pelawat budiman : Jika anda menjadi Syed Mokhtar , dapat 'green lane', bagaimana kah keadaan anda semua ?

    2. Kenapa mesti pertikai dia melayu atau tidak ? Hanya cina dan india sahaja yang hebat berniaga ? Atau sebab dia Islam ?

    3. Jika saya berada di kedudukan beliau,perkara sama yang di lakukan dan rebut 'peluang' dari mereka -mereka yang masih lagi mencari timbunan kekayaan menambah jumlah kekayaan berton-ton sedia ada nya

    4. Maka saya akan beri balik pada suaka bangsa yang memerlukan dalam bentuk apa jua....

    What say you,rocky's bru ?

    ReplyDelete
  31. Anonymous1:18 am

    The Bloody racists PARAMESWARA

    Did you one Chingki who broke PERWAJA, Another Chingkie who wall-up PKFZ, another Keling who wall-up Jet Engine and another burned and throw human ash to river!

    No RACists

    ReplyDelete
  32. tokman7:56 am

    I am more concern about why Pos Malaysia needs to be bailout and why those involved in the collapse of the Pos Malaysia are not prosecuted? It does not makes sense why such a monopolistic corporation can go down the drain. Has any forensic audit been done just like Sime Darby or is the government happy just to be a bystander? It really does not matter who takes over the corporation as long as he is a Malaysian. However, the only way to turn around the corporation is to downsize the staff, replace with more efficient staff and operate like any efficient bank....kick out the dead woods, sadly, there are many in that corporation!

    ReplyDelete
  33. Anonymous9:32 am

    SATU melayu kacok berjaya, enam juta melayu bersorak. Kekayaan umat kite kini ditangan segelintir - Halim Saad, Naza, Kalimullah, Nor Mohd Yaccob.. Adel kah? Melayu punye kuota, kacok jade kaya.

    ReplyDelete
  34. Anonymous2:56 pm

    By selling Pos Msia to TSM, Khazanah has kautim with PAC and MACC not to further investigate the huge losses suffered by Pos Msia. Who was the CEO during that period? Was it Ikmal Hijjaz?

    ReplyDelete
  35. Anonymous6:48 pm

    ada yg bila dah kaya, terlupa daratan, tak reti menghargai bangsa dan budaya sendiri (call it self- hate) Kasi senang lagi kat sesuatu puak yg tidak memerlukan pertolongan. Liberal, modern konon tapi tk sedar mereka hanya menukar belacan with a stinky rotten cheese. Smells just as bad!! With these kind among us we don't need no enemies!!

    Benci corporate scumbag.

    ReplyDelete
  36. Anonymous8:01 pm

    Hello 'No RACists',
    You are so blind lah.
    The cases you mentioned, the law went after them.

    But Pos Malaysia, the law diam saja but the entity is given to a white knight of the same kind that 'managed' the organisation to report huge losses.

    Can you see the difference?

    You still do not get the drift?

    PARAMESWARA

    ReplyDelete
  37. Pos Malaysia is out-dated.
    They are surviving from thousands of parcels...especially from Indo workers.
    Letters and post cards are gone.
    And like all Govt Depts...Pos Malaysia is over staffed and slow.
    I have a strange feeling..this Syed Mokhtar is ever ready bto help UMNO B...for reasons he knows best.
    All his buy ups are loosing ventures and cannot make money at all.
    Why is he doing this?
    We all can guess....don't we?
    Only change of Govt. will reveal so much truths and shock many Malaysians.

    ReplyDelete
  38. Sdr Bru,

    1. It does not matter where his family came from. I knew this good man when we shared the same school premises back in the 1960s in Alor Star;

    2. He attended the evening private school and I attended the morning government-aided session. The school was Saint Michael;

    3. I went home to help my dad grew rice and he went home to help his dad tended buffaloes and cows. They were cattle traders;

    4. It wasn't Pak Lah who put him down. It was the hijackers around the former PM;

    5. What Khazanah does not need, it should sell. I think Khazanah needs money -- every penny of it;

    6. After helping two billionaire Punjabi brothers of the Fortis’ fame -- Malvinder Singh and Shivinder Singh -- make some pocket worth S$116.7 mil (RM272.0 mil) -- why should Khazanah not sell its assets to Syed Mokhtar?

    7. Thanks to the Abdullah-era Pantai Hospital fiasco, Khazanah may end up forking out S$3.4bil (RM7.93b) for the remaining stake Parkway, the parent of Pantai;

    8. Is this a good buy? Is Parkway worth that much? Please investigate or link to OutSyed The Box; and

    9. We should monitor Khazanah's every move to avoid another Sime Darby fiasco.

    Thank you.

    ReplyDelete
  39. Anonymous7:50 am

    When Vincent Tan get all the thing from Goverment from Land to Island you keep quite .... but when ONE Malay show his talent to get rich by business instrument ... and you all barking like hell .....

    ReplyDelete
  40. Anonymous11:31 am

    Better Syed Mokthar than the Naza Group. Syed Mokthar has delivered on all fronts. He is indeed the real deal. And hello, his family hails for Uzbekistan lah, not Yemen, but that is not to say that he doesnt have YEMENI blood somewhere along the line.

    DJ Remy

    ReplyDelete
  41. Anonymous7:32 pm

    The first priority of any sale of government assets is the gearing ratio of the corporation that wants to buy it. Otherwise be prepared to bail them out when neccessary.

    ReplyDelete
  42. Anonymous11:06 pm

    Vincent Tan is also a Malay.... He is a Hokkien Malay. Kakakaka.....

    ReplyDelete
  43. Anonymous1:55 pm

    Syed Mokhtar is a generous entrepreneur. Yes, he makes money but he gives back to the community in a big way. Pos was good to steal Syed Feisal from NSTP. Syed Feisal had put NSTP in a good footing. I know because I was there but already retired. He bridged the editorial and management. He turned nstp from a big loss to profits; staff gets consisten bonus now, also renovated nstp offices make it real canggih without big investment. The only problem is the editorial side of nst. Always think they are great. I heard the circulation for nst now is at a low of 80k per day. Sinar harian lagi bagus. Malu lah. Hidup Harian Metro!!! HArian Metro is subsidizing nst’s mess.

    ReplyDelete
  44. Anonymous10:27 am

    Make sense for TSM as he can pump in bank muamalat into the post offices. History of TSM shows a mix of investment philosophies. One is ala Vincent Tan where he shuffles his assets around to make a lot of money without creating instant value to the businesses. The other is to actually create value to the business; but he takes a darn long time to do it. Maybe, the latter fits into how he is going to improve the situation at Pos. But I see Pos has made some improvement. It has remained profitable and the recent results show a big jump in revenue and profits. Only had to contend with noises from ungrateful former chairman. Said Faisal had to inherit a lot of mess including Transmile. He is a good CEO but let’s see whether the new Arab shareholder will work well with the Arab CEO.

    ReplyDelete
  45. Anonymous8:03 pm

    Make sense for TSM as he can pump in bank muamalat into the post offices. History of TSM shows a mix of investment philosophies. One is ala Vincent Tan where he shuffles his assets around to make a lot of money without creating instant value to the businesses. The other is to actually create value to the business; but he takes a darn long time to do it. Maybe, the latter fits into how he is going to improve the situation at Pos. But I see Pos has made some improvement. It has remained profitable and the recent results show a big jump in revenue and profits. Only had to contend with noises from ungrateful former chairman. Said Faisal had to inherit a lot of mess including Transmile. He is a good CEO but let’s see whether the new Arab shareholder will work well with the Arab CEO.

    ReplyDelete
  46. Anonymous5:23 pm

    Syed Faisal had to inheret lots of shit in Pos Malaysia, thanks to Khazanah and the previous CEO, Datuk Ikmal Hijjaz.

    ReplyDelete
  47. Anonymous9:25 pm

    Rocky,

    my only take....sell of POS Msia is percursor to GE....gomen need money for election to buy off votes....use TSM to get rid of deadwoods and lay blame at his feet before election and he get the unlocked value of POS Msia assets after busting the union and getting rid of sleeping mgmt...

    oh yeah...works all around....

    Keturunan Jebat

    ReplyDelete
  48. Anonymous6:00 pm

    Today Pos Malaysia, tomorrow KTM.

    ReplyDelete
  49. Anonymous11:11 pm

    Lucky him..Everything is for him in Malaysia.
    Tak payah susah2.Orang offer sebab ada duit atau ?????

    ReplyDelete
  50. Anonymous3:27 pm

    Syed mokthar dapat POS. Bagossss

    ReplyDelete

Probe the security company, not just the guard

Bangsar, 17 May: Good to hear that the Kuala Lumpur CID will now investigate a skirmish involving a security guard and journalists from The ...