RM6 BIL SET TO VANISH LIKE MH370? Heads must roll if MAS rescue plan fails again
All this need not happen if the airline had been in good hands.’
Vijay47: Granted that the two air tragedies would have had serious repercussions on Malaysia Airlines’ (MAS) profit-making capabilities, but these were not the only factors and Khazanah or MAS should stop hiding behind them.
You can pump in all the money in the world but if the management is not changed to one driven by good corporate principles and Umno and cronies do not keep their greedy hands out of the till, the airline will remain grounded and bogged down in huge losses.
But a good start is that all those crony contracts are being reviewed, which I hope means "will be terminated if found to be unfair to the airline".
While you are at it, Khazanah, there should also be a full-fledged inquiry into criminal mismanagement and dereliction of duty. None of that "let us forget the past and move on" rubbish.
Heads must roll. Especially that of former MAS chief Tajuddin Ramli's fairy godfather.
Unspin: The MAS Act should also include a clause that categorically states that this would be the final time that taxpayers’ funds would be used to rescue MAS.
Quigonbond: It's a transfer from right hand to left hand. Why does it cost taxpayers another RM6 billion?
Ohtedah: Will Khazanah managing director Azman Mokhtar be held accountable if the target of returning to profit within three years is not achieved? Does he dare say that he will resign from Khazanah in such case?
If not, it's just talk and floating a wishlist in the air. For once, show accountability.
Cascara: A change of name is needed to shake off the ‘badwill’ attached to the name MAS, and of course don’t let Umno anywhere near it. Then and only then can we can talk about making profits.
Too Lan: Why can AirAsia be profitable and MAS cannot? Swallow your pride and let the right people manage MAS.
MAS needs people who understand the aviation business and the experience to create new businesses.
But first, all the parasites must be eliminated. The gravy train must be halted. I really sympathise with the staff of MAS because as much as they try, they are working against the tide.
Martha: Azman, before you plan to restructure the airline, have you found the person to run it? I hope it’s not going to be another crony, a brainless idiot who does not know anything about management who only knows how to line his pocket with you-know-what and within a couple of years, we will be looking at another restructuring.
RM6 billion is lot of money. Do we have the RM6 billion or is MAS going for a loan? This is easier said than done.
What is going to happen to the 6,000 staff who will be asked to leave? It’s really really sad. All this need not happen if the airline had been in good hands. I shudder at the thought of this RM6 billion going down the drain. Heaven help us.
Malaysiawatch4.blogspot: I suggest a whistleblower programme that allows staff and managers to report malpractices at all levels to an independent body. They will be rewarded with five times the annual savings to the company if there is a conviction.
If the government wants to operate a national carrier, it must be based on integrity combined with meritocracy similar to Singapore Airlines (SIA). Otherwise it is better to close shop now rather than later when another RM6 billion go down the drain.
Doc: To me, this RM6 billion plan to rescue the ailing MAS is like throwing cash into a burning fire.
Telestai!: Again, assets reshuffling. It is as if Azman has no other ideas but moving assets from Co A to Co B. SPMB already took over most of the aircraft so there is practically nothing left to transfer except for the business.
I personally think MAS is not worth saving. Liquidate the company and start afresh. Get Newco to buy the assets from SPMB. Put in a new management, new culture, new logo, new suppliers and new way of doing business.
Re-hire MAS staff if they are prepared to work under new terms. Now is the time, don't miss the opportunity.
Anonymous #44199885: It sounds like a plan similar to the Danaharta set up to deal with non-performing loans (NPLs).
But what is the assurance that this will pay off, considering taxpayers’ money will be used. What elements of the plan costs RM6 billion? What criteria will Khazanah use to determine whether or not a contract is fair? What are the parameters of review?
Now that MAS will be taken private, will there be an independent board to oversee all procurement and contract negotiations and put in place and effect open tender procedures? What is the plan in running MAS between now and the passing of the MAS Act?
MAS is still an operating concern and to ensure continuity in operations, a professional management team with expertise in running an airline or turning around an airline should have been put in place now to ensure operational efficiency and oversee all aspects of the restructuring, including the managing staff who will be much demoralised and anxious.
Whatsup: If Khazanah couldn't do anything to improve MAS since a long time ago when it was not in such a bad shape, what makes them able to do it now when it is in a nosedive? -M'kini
http://www.malaysia-chronicle.com/i...escue-plan-fails-again&Itemid=2#axzz3BpvuyCn4
All this need not happen if the airline had been in good hands.’
Vijay47: Granted that the two air tragedies would have had serious repercussions on Malaysia Airlines’ (MAS) profit-making capabilities, but these were not the only factors and Khazanah or MAS should stop hiding behind them.
You can pump in all the money in the world but if the management is not changed to one driven by good corporate principles and Umno and cronies do not keep their greedy hands out of the till, the airline will remain grounded and bogged down in huge losses.
But a good start is that all those crony contracts are being reviewed, which I hope means "will be terminated if found to be unfair to the airline".
While you are at it, Khazanah, there should also be a full-fledged inquiry into criminal mismanagement and dereliction of duty. None of that "let us forget the past and move on" rubbish.
Heads must roll. Especially that of former MAS chief Tajuddin Ramli's fairy godfather.
Unspin: The MAS Act should also include a clause that categorically states that this would be the final time that taxpayers’ funds would be used to rescue MAS.
Quigonbond: It's a transfer from right hand to left hand. Why does it cost taxpayers another RM6 billion?
Ohtedah: Will Khazanah managing director Azman Mokhtar be held accountable if the target of returning to profit within three years is not achieved? Does he dare say that he will resign from Khazanah in such case?
If not, it's just talk and floating a wishlist in the air. For once, show accountability.
Cascara: A change of name is needed to shake off the ‘badwill’ attached to the name MAS, and of course don’t let Umno anywhere near it. Then and only then can we can talk about making profits.
Too Lan: Why can AirAsia be profitable and MAS cannot? Swallow your pride and let the right people manage MAS.
MAS needs people who understand the aviation business and the experience to create new businesses.
But first, all the parasites must be eliminated. The gravy train must be halted. I really sympathise with the staff of MAS because as much as they try, they are working against the tide.
Martha: Azman, before you plan to restructure the airline, have you found the person to run it? I hope it’s not going to be another crony, a brainless idiot who does not know anything about management who only knows how to line his pocket with you-know-what and within a couple of years, we will be looking at another restructuring.
RM6 billion is lot of money. Do we have the RM6 billion or is MAS going for a loan? This is easier said than done.
What is going to happen to the 6,000 staff who will be asked to leave? It’s really really sad. All this need not happen if the airline had been in good hands. I shudder at the thought of this RM6 billion going down the drain. Heaven help us.
Malaysiawatch4.blogspot: I suggest a whistleblower programme that allows staff and managers to report malpractices at all levels to an independent body. They will be rewarded with five times the annual savings to the company if there is a conviction.
If the government wants to operate a national carrier, it must be based on integrity combined with meritocracy similar to Singapore Airlines (SIA). Otherwise it is better to close shop now rather than later when another RM6 billion go down the drain.
Doc: To me, this RM6 billion plan to rescue the ailing MAS is like throwing cash into a burning fire.
Telestai!: Again, assets reshuffling. It is as if Azman has no other ideas but moving assets from Co A to Co B. SPMB already took over most of the aircraft so there is practically nothing left to transfer except for the business.
I personally think MAS is not worth saving. Liquidate the company and start afresh. Get Newco to buy the assets from SPMB. Put in a new management, new culture, new logo, new suppliers and new way of doing business.
Re-hire MAS staff if they are prepared to work under new terms. Now is the time, don't miss the opportunity.
Anonymous #44199885: It sounds like a plan similar to the Danaharta set up to deal with non-performing loans (NPLs).
But what is the assurance that this will pay off, considering taxpayers’ money will be used. What elements of the plan costs RM6 billion? What criteria will Khazanah use to determine whether or not a contract is fair? What are the parameters of review?
Now that MAS will be taken private, will there be an independent board to oversee all procurement and contract negotiations and put in place and effect open tender procedures? What is the plan in running MAS between now and the passing of the MAS Act?
MAS is still an operating concern and to ensure continuity in operations, a professional management team with expertise in running an airline or turning around an airline should have been put in place now to ensure operational efficiency and oversee all aspects of the restructuring, including the managing staff who will be much demoralised and anxious.
Whatsup: If Khazanah couldn't do anything to improve MAS since a long time ago when it was not in such a bad shape, what makes them able to do it now when it is in a nosedive? -M'kini
http://www.malaysia-chronicle.com/i...escue-plan-fails-again&Itemid=2#axzz3BpvuyCn4
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