Updated: Air Asia's Din Meranun on the unwinding of the share swap deal ("to remove any distraction to ongoing efforts") and on his continued belief in collaboration ("(It) has brought MAS and Air Asia closer together")
Inevitably, today Malaysia Airlines and Air Asia unwind their share swap deal made last August. The swap's cancelled. Deal rescinded.
"A rose, by any name, smells just as sweet," a lawmaker who has been against the share swap from Day One told me.
Indeed, the majority of MAS employees are said to be partying or holding kenduri doa selamat. They see the announcement as a big Workers' Day gift to them from the government.
Tony Fernandez will be out of MAS Board. So will Kamaruddin Meranun, his partner in Air Asia. Danny, who was made MAS COO after the swap, may most probably go as well.
But the comprehensive collaborative framework (CCF) that binds the two airlines remains intact.
Will it work?
Ahmad Jo, the man brought in to turn MAS around following the swap, has a great opportunity to show what he has in terms of transformation plans for the national carrier.
But like YB Wee Choo Keong said in his tweet yesterday, "AJ must be his own man".
What the YB means, I think, is that AJ must lead and cannot be taking the cue from others, especially not Tony, Kamaruddin, Danny, or Khazanah's Azman Mokhtar.
He must put the interest of MAS and the flag before everything else. Above Air Asia's. Above Air Asia X's.
Easier said than done.
Big Dog, one of the biggest critics of the share swap, gives an early thumbs' up to the new deal in Synergizing Comprehensive Collaboration Framework. Syed Akbar Ali won't rest until the Government sacks "the Khazanah idiot" in Robbery at MAS.
Another victory for idiocy over commonsense!ReplyDelete
When will these MAS union fellows and their assorted politicIan supporters realise that they can't simply wish away competition just by kicking Tony Fernandes and AirAsia in their posteriors?
Maybe they can bully the PM by threatening to vote for the Opposition. Big deal!
As if they can kick the competitors out of the game now and come Asean open skies in 2015!
Shame on you, Bru. I thought you had a better grasp of competitive issues and hardheaded business realities.
But it looks as if you have opted to jump on the bash-Tony Fernandes bandwagon.
Do I detect more than a whiff of racism here?
Going by your logic, Mas will now become the best airline and start making money tomorrow. So when that doesn't happen, who are you going to blame?ReplyDelete
Good senses finally prevailed althought almost too late. AJ must not take cue from Tony, Zakaria and Amokh and most importantly, Jay from CIMB. As a CEO, he must rely guidance from his board of directors as required by corporate governance.
My fear, the will be another M&A initiated by Jay (through Khazanah of course) planned for MAS. CIMB need deals of biblical proportion to maintain ROE. Remember Synergy Drive!!!
People are watching AJ with great interest. VIVA MAS!!!
Sell MAS shares. This company is no more controlled by shareholders but more by unions and politics.ReplyDelete
No future and heading for the rocks.Why list it in Bursa in the first place?
After so many years, it is clear that the company's business is ruled more by unions and politicians then purely business point of view.
Ah Bloodystone, you accuse me of racism? And I thought you were classier than that! In the end, when you are not happy with the stand I take, you accuse me of racism. Pathetic. There are too many of you already.ReplyDelete
Air Asia is a Bumiputera company, made up of a lot more Melayus than you'd probably like.
Tony F is a Malaysian and I'm not even sure if he's an Indian. Like Russel Peters, he doesn't have an Indian name as far as I know. What we know is Tony partnered a Malay - Kamaruddin Meranun - and together with Aziz, who has some Middle East blood - they have made it big in the aviation sector.
So the whiff of my so-called racism is against whose race, exactly?
Well done, Bloggers and all. We may have won the battle but the war is not over yet as elaborated here http://syedsoutsidethebox.blogspot.com/2012/05/robbery-at-mas.htmlReplyDelete
Mr. Chair Man even had the audacity to ask Union for proposal within 2 days to turnaround the Company while they had 9 months of GAJI BUTA. They should resign and save themselves from further humiliation and save MAS from further degradation.
Be extra careful, the previous Managements were no archangels either because they too had successfully turned around and around the Company as written in the STAR on 2 May 2012 below,
“MAS, which is undergoing its fourth turnaround attempt since the wide asset unbundling brokered by Bina Fikir Sdn Bhd in 2002, posted a record RM2.52bil net loss in its financial year 2011, weighed down by an uptick in fuel prices as well as non-cash provisions and impairments.
The latest turnaround plan, which was unveiled in December, outlined an aggressive 12% capacity cut - the largest in its history - and targets to achieve some RM1.18bil to RM1.51bil in cost savings and additional income to make the airline profitable by 2013.”
Further expounded in detail here
MORE TO COME!
You are wrong.Tony and Kamaruddin want the share swap unwind.Its to their disadvantages.They have to recognise in AA ac the loss at MAS as equity accounting.They have problem with their banker and financier.They ant listed AAsia Thailandband Indonesia.
What will Khazanah do with MAS.They will pun MAS under recevership and form a new co to take over the assets minus the employee.Ha Ha Ha serve them right especially the hard headed UNION.
God bless MAS.
Its a sad state of affair. Hope the unions get stronger and smarter .let the old dogs rise and importing of outsiide talent to head mas should be shelved. And it muat be noted that shareholders are only in for the cash so the comment from above is likely to be from an idiot . The unions should eat the shareholders who care for nothing except for only raping mas infront and backReplyDelete
Good move by Najib but the disentanglement with AA should be complete. There's nothing to gain but pain via any association with AA.ReplyDelete
Its future as a going concern in low-cost paradigm is increasingly tenuous with the emergence of competition, debts hovering persistently over US7.5 billion since 2009 and profits fluctuating up and down like a drunkard.
Share prices have declined almost 90 cents cents since the merger and AA has been making ends meet by cannibalising MAS and Firefly's routes. If I were Najib, I would cut AA adrift completely and let it sink into oblivion, which is bound to happen anyway give or take 2 years. Anyway, this rescinding of the share swap makes good sense as there would be no obligation on the taxpayer to foot Tony's mess if there is a default in the near future. Industry experts confide that AA shares will be around 1.30-1.60 range come January 2012 before going into freefall thereafter.
Remember, the late Lotus now Caterham and QPR.....hahahahahaha
Thought I will share this as a nightcap ;)
(Laughing myself to sleep)...hahahahahahahahahahahahahaha.....OMG...hahahahahahahahahahahaha....zzzzzzzzzzzzz
bru 10:28 PMReplyDelete
Too clever by half, bru!
It must be your journalistic training that gives you the "Teflon" ability to evade or divert all criticism (a la the late Ronald Reagan)!
If you had read the postings on the various threads in YB Wee Choo Keong's blog, you can see for yourself how Tony F was vilified in the most derogatory and racist terms.
Which, incidentally, YB Wee did little to moderate.
So, you cannot deny that racist elements were injected into the debate on this subject.
Why have you not focussed on the economic and business logic of the deal, and the need to deal with competition come 2015, if not earlier?
We have SIA, with it's SilkAir, Tiger Airways and Scoot! offshoots, a fully privatised Philippine Airlines with San Miguel Corp money behind it, a revitalised Garuda under a dynamic CEO who understands competition and aggressive LCCS like Lion Air, Cebu Pacific and Jetstar. Heck, even Thai Airways is restructuring itself and getting new aircraft.
Let's not even talk about Cathay Pacific, Qantas, British Airways and the big Gulf gorillas - Emirates, Qatar Air and Etihad.
What makes the MAS unions think that they have the luxury of time to avoid restructuring and right-sizing?
Is MAS somehow magically immune to competition and globalisation in an industry where profit margins are abysmal and the cost of fuel keeps going up?
Incidentally, I understand that Tony F is a Malayalee. And "Fernandes" and "Fernandez" are relatively common surnames in Kerala - a legacy of the early Christian influence in that state.
I'd bet you didn't know that, did you?
" The Great Rescue"...
Should Read "MAS Lifeline Pulle Out"
Now that the Yahooos are over...What is MAS Going to Do?
Befitting your last pitch on "Obituary".
Yes my friend... You and your Gang can now prepare MAS's Obituary.
Its not a Whiff of Racism...
Rocky is the True Blue Racist operating under cover of "Justice"
This is much better than Bodowi!!!ReplyDelete
Bru, I recalled one of your postings that I liked during Bodowi's time, a man that screwed the nation. Your posting highlighted "the flip followed by the flop" and you said because the flip flop was so rampant, we all can almost literally hear the sound of the "flop" followed by the "flip". And if this is not the Mother of All Flip Flops, than I don't know what is. If you care to do the roll count, the flip flops duing Najib's time iare many times over compared to during Bodowi's time. But all these don't matter. What matter is, that you are easily bought. Your allegiance is only to Mahathir (on that, nobody needs to pay you to wrtie). But everything else can be written by you and spun many ways by just how much money they pay you. The truth is, a lot of people are fed up with you bloggers. Blogs, to me, is a way to legalise fitnah. Seriously, please go to any Ustaz and learn about the dosa of fitnah. I pray that all of you will be shown the right path. Salam.
Forgot to add AirAsiaX to that Lotus, Caterham and QPR list...hahahahahaha. Yeah the 'can do' spirit is alive and kicking....'can do nuts' that is.ReplyDelete
Such stupid self-wanking delusional fellatists!
Yikes, the warrior surfaces again...LOL.Delete
With his patented brand of neoracist logic, to boot.
Leaving aside the charms of the Singapore Girl (which, incidentally, includes a goodly number of Malaysians), just what are the market capitalisations of MAS, AirAsia and SIA?
I understand that the figure for SIA, as at 30 April 2012, was S$12.83 billion.
Which, unless the markets were bamboozled and got it all wrong, is a fairly substantial hunk of change.
But, then, the MAS unions couldn't be bothered with such minutiae, right?
Nope, they are more interested in grandstanding and threatening the PM of the day than in commonsense and logic.
Par for the course, actually.
Another flip flop decision. One of the many flip flop decisions to arise during this current government.ReplyDelete
The current UMNO/BN gov't must've set an all-time high record for "flip-flops" by now. And looks like the number will keep on increasing.
LOL, keep on defending them, will ya?
When the share swap was announced, it was touted as a saviour for MAS. Now that the share swap is being unwound, the same idiots are saying it is also for saving MAS. When you don't have brains at the top, these are the type of explanations you get from Khazanah.ReplyDelete
Which racist is bringing in the race and Christian angle now? 'Malayalee', 'Christian' etc sure way of stirring the race and religion shitpot.
Instead of responding to this racist garbage why not throw out this fellow?
MAS had a low-cost offshoot, FF. It should just concentrate on building that up. No point, as Warrior says, in working together with AA. That is a business model doomed to failure. Only surprise is that it took too long for everyone to figure out.
Anyone know that in five years AA capital commitment has gone up from 20 billion in 2007 to 57 billion in 2011 while earnings has gone flat. Wonder who is going to foot the bill when that too big to fail thing crashes.
9.41am what fitnah you are talking about? Did you not just fitnah Rocky of being paid?ReplyDelete
Cant see your own shit, want to talk cock about ustaz, dosa, fitnah pulak. Shame on you, munafik.
Rocky keep up the factual and truthful blogging. One of the few blogs with any credibility left. The stats counter is proof enough, never mind idiots like 9.41am.
How come Skilgannon is replying for Bloodystone. Hired gun or part-time servant or one person with two nicks?ReplyDelete
By the way, why the elaboration about Tony Malayalee and Fernandez Christian if the commenter claims to be not racist? Why shuld we care at all even if TF is a Pygmy? Since when his race and religion got anything to do with this thread and what has that got to do at all if no racism is involved?
And since when WCK's posts got anything to do with Rocky's? What goes on there is none of RB concern or control, so why bring that in? Unless of course what RB said cuts close and hurts real bad and "anything" will do to get back at RB. Pitiful!
as per 11.49am, 11.57am and 12.34am, address those anons first before aiming garbage at me to deflect the issue!
"With his patented brand of neoracist logic, to boot."
Neoracist logic, konon when everyone, excepting delusional him of curse, can see who is the actual bigot. Fuck your motherlah bastard yellow Chingkie pig and ram your stumped cock down the Spore girl's throat. Deluded minds like yours deserve that, bastard BABI PUNDEK KALATHAI CHOU CHIBAI, TIU NIAMAH.
Pondan punya BABI, oghe tak sebut pasai dia, dia nak kacau oghe, pundek pukimak kepala butoh, penjilat palat sundal.
Ooh, look - the warrior is waxing wroth, and we are all supposed to cower in abject terror and pay homage to the cool maruah intellect...LOL.Delete
I guess that cowering in terror bit is passe by now, seeing as how his rants have become tediously boring.
It's amazing, though, how he keeps popping up for more punishment, much like the punch-drunk prizefighters in Merrie Old England.
He was shown up so thoroughly over Singapore that he had to resort to off-tangent and irrelevant comments which had no bearing on the real situation.
And now he is bringing that same brand of logic to bear on MAS and AirAsia.
Time will tell who's right and who's wrong.
I hope that MAS finally gets it right because, come 2015, there won't be any space left for bailouts, avoidance of competition or union grandstanding.
But, given the current mindset of the MAS unions and their leaders, and the opportunism of their supporting cabal of politicians, it remains to be seen if good sense and business logic triumph over jingoistic posturings.
Because when Emirates, SIA and the other big boys come out to play, what's left for MAS, when it cannot even invoke protectionism over the Malaysian market?
Even the bru meister has apparently seen fit not to comment on this.
Who has been shown up, bastard Chingkie pig?ReplyDelete
Who has been confuting FTAs, IMFs and the whole jingbang with jurisdictional issues, dumbkopf?
Who has been talking cock about diplomatic relations when the whole world can see a crime is a crime as the Swiss found out?
Now if you are NOT a son of a bitchwhore of a prostitute, DEBUNK this as a LIE. GIVE counter-proof or SHUT the FUCK UP, BASTARD PIECE OF SHAMELESS SHIT:
"Jurisdictions of Primary Concern” are those that are identified, pursuant to INCSR reporting requirements, as “major money laundering countries.” A major money laundering country is defined by statute as one “whose financial institutions engage in currency transactions involving significant amounts of proceeds from international narcotics trafficking.” However, the complex nature of money laundering transactions today makes it difficult in many cases to distinguish the proceeds of narcotics trafficking from the proceeds of other serious crime
Now just debunk the whole report. Itu sahaja, I am NOT burdening you with ANYTHING else. Just tell us this a lie,ok That's all n very easy peasy at that. Come on, we only ask u to do something simple, Chingkie pig and dont roundtrip us on IMF, FTA bullshit which has nothing to do with the issue of Money Laundering.Come on Chingkie bastard pig, Malayalee cocksucker, Christian arselicker, LGBT throatjammer.
By the way, this is pretty damning isnt it:
"According to the survey, jobs in compliance and anti-money laundering functions are the most in demand."
Why need to headhunt if Money Laundering is non-existent? OIC, the US agencies are getting too close for comfort after UBS as they unravel one shit after another, arent they?:
By the way, who started racist shit here with "Christian", "Malayalee" pundeks if not U!, cheapskate DAP/PAP troll.Why twist it now like whores' sons and daughters love to do. Ingrained in the DNA??
In the end, everyone here, except delusional u, know you are a racist/extremist troll of an ignorant lying piece of shit! When cornered, you resort to your tiresome Englishy garbage that shows up your lack of intellect for all to see, shameless BABI. Hei BABI, you brought up the 'cool intellect" too dint u with ur Margaret Chan thingy?. And when I showed MC as an idiotic negligent bitchwhore like you, you went quiet...how come..Harry's pigcock jammed in ur throat or cat fucked your mouth??
In the end, you and Singapore dont faze us Melayu Bermaruah an iota for 5.26 amply shows up your ingrained stupidity. So quit trying to be smarty alecky here...but dont forget if you cannot disprove that State Department website up there...confirmlah you are the sonofabitch of a w...e. Fill in the blanks as you fuck her, she is opening her cunt already for her daily ration of cum courtesy of her son's stumpy pigcock, sus barbatus!.
Since you claim to be so knowledgeable on this issue, please tell us, clearly and precisely, which banks incorporated in Singapore and which foreign banks operating in Singapore have been formally named and accused by the US authorities for money laundering, racketeering, tax evasion and illegal funds handling.Delete
And, since I am feeling magnanimous, let's extend that to charges launched against banks in Singapore by authorities in the UK, Australia, the EU, Indonesia, Malaysia, India and Japan. Pretty comprehensive, right?
So, put up the facts and name names, instead of waving stuff like Fatca and the US narcotics thingy around.
It's funny that the US State Department seems to be saying one thing while it's boss makes nice with the Singapore Minister for Foreign Affairs.Delete
Talk about left and right hands, amnesia or official schizophrenia!
I am pretty sure they don't treat Iran's Foreign Minister the same way.
Maybe he ain't a cool maruah intellect!
Don't evade the issue. What was the market cap of MAS on 29 July 2011 and 30 April 2012?ReplyDelete
Was there a significant increase in MAS's market cap over this period?
What were the corresponding figures for AirAsia?
KAH KAH KAHReplyDelete
waa... lepas kawin dah cerai lagi... kah kah kah
kah kah kah... tak sampai setahun dah talak... kah kah kah
weii, ini guna talak sms ke...? kah kah kah
tak hairan jika mas & airasia lingkup tahun ini... kah kah kah
takpe... kita fly SIA aje... amoi lebih cun... kah kah kah
2kartiub: Lebih gemar ambik tren
i think bloodystone and skewedmoron regret relocating down southReplyDelete
and still nursing NEP scars but realise red dot is sinking 2 inches does not bode well for future
so must tegakkan benang yg basah coz ego in the balance
We are all idiots!ReplyDelete
They have got want they wanted. MAS data, info etc are all with air asia. They got the routes from MAS. Under the CCF MAS must service Air Asia planes for free! You think that rascal TF will pay? How long can we be fooled.
Latest, FY are supposed to sell MH tickets at Subang. The rot does not stop.
Enough-lah yellow pig. You have been outed as a stupid liar again by Warrior 231. If people here are keeping the score, it would 20-0 by now. No shame ah you?ReplyDelete
Since you crapped about markets here:
If you believe that stock markets are the best judges of a company's prospects - the market cap of AirAsia at close of trading on Friday, 5 Aug 2011, was RM11 billion (S$4.5 billion). The market cap of MAS as at the same date was RM5.3 billion (S$2.6 billion).
Here are the facts:
1.Since the share-swap deal was announced in August last year, MAS shares have declined by 23.75 per cent, while AirAsia shares have depreciated by 15.69 per cent.
2.MAS now has a market cap of RM4.08 billion and AirAsia is currently valued at over RM9.25 billion.
Read more: Malaysian aviation: A free market again? http://www.btimes.com.my/Current_News/BTIMES/articles/psca/Article/#ixzz1ttxrWg46
See, even the markets know better than you that they fucked AA big time, both in shares and market capitalisation all within 9 months!!! Some benefits AA brought MAS!!
As 5.19pm says, the AA crooks ripped off MA and fucked up FireFly and us customers for their survival. But even for that their balance sheets stink while karma fucks their market cap! Warrior 231 wins again!
Pretty silent about SIA now eh? What happened? To rip off Warrior 231:"Harry's cock jammed in there or cat fucked your mouth? Liar..liar..pants on fire
Remember the 'Truth will set you Free'
MAS and SIA both came into being around the same time, when MSA was split up.Delete
So, what's SIA's share price and market cap now, compared with those for MAS?
What is SIA's route network in terms of destinations served, compared with MAS?
Are you still going to proffer the discredited excuse that MAS had national service domestic obligations to fulfil?
That's the mother of all cop outs!
AirAsia has been in existence for how long? What's is it's foreign shareholders' percentage, compared with MAS?
You have already screwed your own argument by quoting publicly available figures for share price and market cap for both airlines?
And you still think that MAS management down the years have done a great job?
Well, maybe, Saw Huat Lye and Tan Sri Aziz did, but the rest
So, go peddle your crap arguments to the credulous and easily misled. Seems to me that there are a lot of those running around these days!
Anon 8.18pm and Warrior 231ReplyDelete
Maybe that Singapore dumb chap loves to have arse and wallet screwed at the same time. Think about it.
No lah anon 11.44pmReplyDelete
The shitscumbag has got some stock options on the AAnus counter after suckling the cock and licking the arse of the Malayalee Christo bastard who rammed his john in for good measure.Probably, trolling on the Malayalee's behalf when he moonlights away from Harry that is why Mr-Aviation-know-it all yaps like a demented mongrel.
But for the past 2 days it has gone suddenly quiet after seeing the last of its feeble garbage challenges fucked bigtime by anon 8.18pm. Come to think doesnt that challenge sound like feeblish damp squid of a distraction.....hahahahahaha easily parried by 8.18pm.
Now observe the expected SOP of its modus operandi
1. It will surface, as this thread begins to slip out of the frontpage of this blog, to post some face-saving shit like when it accused me of alleging the MAS people of sabotage, hahahahahaha when I was just postulating possible causes.
2. Then 2 weeks from now, it will come out in another thread and gloat that it won here, what an immoral, lying shitstained,filthy, cocksuckling, arsefucked and arsefucking Chingkie Chritso pig! A stupid pondan BABI in more ways than one!
Warrior 231 = 55
jasper bloodystone = -20
skewedmoron = -100 awol (cat got her tongue err ran off with her keyboard)
In your dreams, dude.Delete
Put up the figures and let's see, shall we?
Dei pundek BabiReplyDelete
1.Don't twistlah motherfucking BABI!. From May 2012, it went backwards first to July 2011 , now all the way back to 1970s. After that it will be back to the 40s, 30s right till the Wright brothers' birthdays...hahahahaha. Pundek shitlah you Babi, keep moving the goalposts till the cows come home, jesus cums on the cross and Singapore girl opens her whorecunt to your stumpy useless cock, stupid coward Chingkie BABI.
Anyway just for laughs at your expense: Changi
( opened 1981) : 46 million passengers (2011)
KlIA (opened 1998 : 37million (2011): source= AIC.
Moral : not even half Changi' s age, KLIA already 80% there while Moneylaundering WHOREPORT is struggling like a torn tattered twat slut behind Dubai and HK. Why even ramshackle Jakarta with half carriers hitting 50million plus hahahahahaha. Tak Ada malu punya sundal CHINGKIE WHOREPORT!
2. From market cap challenges on AA, it has gone to foreign ownership now with minority shareholders lined up next, after that it will be hedge funds, then corporate ownership, warrants etc blahblahblah until ur mother washes her proscunt ( since you dint debunk 1.35am) and begs for her next stumpy filthy cock thrust sessions....poodah , useless lying piece of worthless, shameless, pig shit of a BABI.
Kalau ada MARUAH dan MALU, dah lama dah mengaku silap. Ini BABI PUNDEK CINO PALAT di klon di singapura, cap babi yang tahi sendiri pun tak ngaku.
Dei, aneh - pray enlighten us as to how many airlines serve Changi and KLIA respectively, and how many destinations are served by flights from these 2 airports?Delete
Shouldn't be too difficult to find, lah. You can Google for it.
Anyway, your passenger stats growth mean nothing insofar as they reflect on past glories. It's the here and now that counts.
Like I said in another thread, time will tell who has the last laugh - SIA and Changi or KLIA and MAS.
It will also be a verdict of sorts on who are better in the airline industry - the cool maruah intellects north of the Causeway or the unrepentant policy wonks south of the Causeway.
Most bankers, industry analysts and airline managers would place their bets on the latter.
Tough titty, dude.
Oh, btw, the closing share prices on Bursa for AirAsia and MAS on May 11 were RM3.60 and RM1.17 respectively. Seems to me that you can't befuddle the market like you can for unions, politicians and unreconstructed rightwing elements.
And I dare say, that come 2015, there will be a lot of eggs on the faces of these same unions, politicians etc when Asean Open Skies kicks in. Perhaps MAS can still beg for protection, a la Proton, then.
I await the FY 2012-2013 results of MAS and SIA with keen interest.
You talk pretty good shit for a stupid fellow, JB.ReplyDelete
The challenge is on you. Prove it otherwise or lose the challenge and be a prostitute's boy for good.
Very simple, stupid.