Saturday, September 07, 2013

MyCC fines MAS & AA: Four should pay out of their own pockets

Tan Sri Siti Norma Yakop: Malaysia's new Iron Lady?
"We were right. The ‘Malaysia Airlines – Air Asia Share Swap’ that we opposed two years ago, not only turned out to be a failed business call, has now been proven to be commercially disastrous. Both companies were fined RM10 million each for the monopolistic collaboration."Amokh, Tony, Danny, and Nazir should pay, 
The blogger Zakhir Mohmad, who runs bigdogdotcom, may sound like a braggart in his latest posting but the fact of the matter is, the bloggers told them so. Azman Mokhtar, the Khazanah boss, would remember the things we said at our Ramadan midnight rendezvous at the KL Hilton when the share swap deal was first announced. The bloggers told him exactly who would play MAS out and who would be eaten alive by MAS employees. And then we wrote on our blogs to tell them how wrong the QPR ad deal involving MAS money was. Wee Choo Keong, then a Yang Berhormat and now a Yang Berkhidmat, wrote on his blog and spoke up in Parliament about why MAS should not be told to stop flying those routes. 
Many have accused these "right wing bloggers" of all sorts of unpleasant things, like being dengki and trying to be cleverer than the wizards themselves. With the Malaysian Competition Commission's decision to fine MAS and Air Asia RM10 million each, I wonder if the bloggers are not, indeed, cleverer. 
Now Zakhir thinks FOUR men should be asked to pay the total RM20 million fines out of their own pockets:
"Since the ‘share-swap’ deal came and put together by Fernandes, Danny, Nazir and Azman, therefore they also should joint and severally bear responsibility for Malaysia Airlines’ RM 10 million fined imposed by the Malaysia Competition Commission.  After all, they were those who had the fiduciary duty as directors for comprehensive responsibility, which include to look into all the finer things, security, commercial practices and anti-trust laws.
"Making them pay out of their own pocket would be fair thing to do, considering that Malaysia Airlines was fined for ‘unfair’ market practices that they was reluctant right from day one."
As long as the employees of Malaysia Airlines and Air Asia are not the ones who have to pay at the end of the day ...
YB Wee, meanwhile, says the legal fraternity is mighty proud of Tan Sri Siti Norma Yakob, the chairman of the Malaysian Competition Commission. We all are.

17 comments:

Anonymous said...

kick these 4 bastards

Low Man Sun said...

Would anyone dare say or admit responsibility in this negative episode or when something goes horribly wrong, thereby incriminating himself or herself? No way Jose. Never in this country cos Malaysia Boleh!

Anonymous said...

100% setuju. Let thus be a lesson to the so called captains of industry.

Anonymous said...

Where this RM10 million x 2 go to?

bl


Anonymous said...

Rocky,

You are right. The directors of both companies should pay the fine from their own pocket. Whoever they are including the investment banker who recommend it.

The investment banker should take the blame for this.

Anonymous said...

Totally agree with u, dude. Azman Mokhtar just celebrated Hari Raya in a spanking new RM10 Million mansion in Country Heights. He (and d others) can definitely afford it

GGK said...

Yes, yes - but all this, exactly how does it help MAS?

Is it in any better shape, advice from bigdog, YB Wee and other illuminati notwithstanding, to weather the competition out there?

Note here that the MAS unions have been quick to carp and denigrate. No surprises there.

But have they come up with any concrete ideas of how MAS can get out of it's funk and compete (without protection, subsidies and bailouts) against the likes of SIA, Emirates, Qatar Airways and Etihad?

Let's not even talk about Garuda, British Airways, Qantas and JAL which are being run as profit-oriented commercial operations with minimal or zero government involvement or interference.

It boggles the mind how the bloggerati and politicians persist in viewing AirAsia as the enemy and Tony F as a demon of some sort.

It shows how divorced they are from commercial realities.

Any halfway decent industry analyst would be able to show them up for the self-serving know-it-all hypocrites that they are.

Not that anyone of them has run an airline, mind you!

Anonymous said...

Malaysia Competition Commission should not stop there.

How about MAS's monopolies of KL to SIN and KL to SYDNEY routes for so many years? MAS gouged profits (high fares) from consumers, until AA was allowed to fly these routes.

Donplaypuks® said...

The real architects behind the MAS-Air Asia collaboration were not from Khazanah or Air Asia, but the PM and the "5th floor boys" at the PMO. That kind of brain does not exist in Khazanah.

There is no way this deal could have got off the starting block without the express consent or orders of P Najib. Let's not kid ourselves that any Dog or that frog Wee had the inside info; these pseudo-patriots knew zilch.

Tony was forced into "national service" just as TR was all those years ago, which explains why Diam Diam and Mahathir ordered the bailout at $8 per share when the market price was below $4, when BUMNO/SCUMNO would have lost $billions had the rescue been done at market price.

So, the $20 million in fines by The Malaysian Competition Commission is a joke in bad taste. It will not be paid. Watch the sandiwara as it unfolds!

Dpp
we are all of 1 Race, the Human Race

Anonymous said...

Doh, Dpp,

Clearly, you don't know much. Tony forced to do National Service? Yeh, right ...

Anonymous said...

Donkey Pukimak Pariah aka DPP and Gay Gay Kuthian are of the same ilk. Both are motherfuckers and pa arse fucking moronic bastards.

Tony doing national service is akin to calling Obama DPP's cocksucker, that's how deluded DPP is. As for the rest of his garbage, we have seen more quality garbage at the local dump. This chakiliyyan Pepundek thaioli just can't get into his pariah brains that he is nothing more than an idiot and never can be anything more no matter how high he aspires. Pathetic pariah clerk.

As for the GGK, it got nothing better to do than spout fact less shit for its daily 5 cent ration. Why doesn't the filthy cuntlicker own up that in free market money laundering Singapore, the aviation sector is a government protected and fenced off zone to any potential competitor.Silk and Scoot are SIA offshoots while Tiger is 33% ( with up to 46% realizable stake) held by SIA

http://www.aspireaviation.com/2013/06/05/singapore-airlines-doubles-down-losing-strategy/

So SIA is pretty assured on non- competition in its major routes and even if there is, it benefits indirectly.

Try squaring that with MAS' situation. Ever since AA started with fuckhead sewel Dollah and his successor's backing, AA has literally eaten into MAS markets. And don't start mentioning the 250million subsidy, stolen routes, FAX, preferential tax treatment, culling of Sabah, Sarawak etc etc yet.

The solution to MAS problem is simple, expropriate AA wholesale and absorb it as a MAS subsidiary, cancel Firefly, Malindo's aviation license and consolidate all air travel under MAS. And while at it, arrest Tony Pariah and gang, investigate and arrest Dollah Badawi if evidence related to corruption surfaces as well as nab all the relevant con sultans and throw them into the slammer.

Plus extend maximal gov support to MAS as Singapore, Qatar, Abu Dhabi and the Emirates do to their airlines.

http://en.wikipedia.org/wiki/Emirates_business_model

http://www.nytimes.com/2011/02/13/business/13emirates.html?pagewanted=all&_r=0

http://en.wikipedia.org/wiki/Qatar_Airways

Ditto Garuda:

http://www.indonesia-investments.com/news/todays-headlines/fitch-ratings-acknowledges-garuda-indonesias-good-corporate-performance/item651

It goes without saying that in the cutthroat aviation sector, Asian airlines are to a large extent government supported in one form or another, ask JAL that:

http://content.time.com/time/business/article/0,8599,1954656,00.html

Only liars born of pimp fucked whores will tell us tall tales of minimal or zero government involvement.

P/s : Remember, lying pigs will always peddle unsubstantiated lies via false statements, vague generalizations etc to mock Malay Muslims whom they intensely hate. Challenge them to produce data and you will find these whoreboys running and hiding like the cockless pondans they are.



Anonymous said...

And friends this provides an insight into SIA' s ownership

http://sg.answers.yahoo.com/question/index?qid=20080609201616AA7RgeV

While the link below will show ( on page 20) that government ownership has risen further as of 2008:

https://gpxsvr3.np.edu.sg/apps5/lib/reference/refenq.nsf/85d009b644b0defc48256f69001b402d/e80b79f34d6e995a4825752c000968d5/$FILE/Airline_industry.pdf

So don't be hoodwinked by Malay Muslim hating racist pigs who want to put down MAS for their own cheap kicks. After all, bastards born off pimp fucked whores have no self respect much less integrity.

jason said...

Someone who owns shares in MAS and/or AirAsia should start a campaign to ask the CEO's of both these public listed companies to pay the fine from their own personal pockets or else start a class action suit on behalf of al shareholders to compel the CEOs to pay for their negligence. Let the CEO's sue their corporate lawyers and bankers.

jason said...

Dpp - the deal has nothing to do with PMO. The 3 names were the prime movers - boat trips in UK near Oxford and Cambridge, frenzied discussion at One World Hotel PJ resulted in a deal reached in the other side of midnight.

Anonymous said...

DPP, how much did Tony pay you to give this sort of comments. Dont be so ignorant la..."National Service"? Who are you kidding!!!

Pak Nik

Dont Ask Why said...

Lets not forget that Khazanah is owned by the Government (UMNO/Malay).

The fact that a government owned company break the law is one thing. To be fined is another.

Then there is the disciplinary action that must be taken by Governemt on staff who break the law.

In this case Azman Mokhtar must be sacked or at least potong gaji for the part he was responsible for the fine.

Such incompetence! This is just one reason why malays hate UMNO leadership for their parts in crude asset stripping by cronies.

Indeed this is proof UMNO is filled with crooks at the policy level.

srizal aziz said...

ala mesti dpt kat sepupu dia pasni...Ko hingat Hishamudin tu nak wat bodo je...ko hingat dia taknak jad PM...Hishamudin sedang menyusun strategi dlm diam