KK Lee 5 Report post Posted May 8, 2020 One business model Khazanah could adopt to incubate MH replacement. Khazanah could sublease aircraft to this new airlines and subsidize RM100m, RM150m, RM250m, RM200m and RM100m in aircraft lease from year 1 to 5. Investors to responsible for opex and the rest. With this model, only competent and resourceful investors will undertake, and airlines could expand fairly rapidly with minimum capex. And Khazanah exposure is limited. Share this post Link to post Share on other sites
flee 5 Report post Posted May 19, 2020 Malaysian state cargo carrier profits from soaring demand for medical gloves KUALA LUMPUR, May 19 (Reuters) - Malaysia’s state-owned cargo carrier MAB Kargo has seen “impressive” profits since February, its CEO told Reuters, helped by the country’s role as the world’s biggest producer of medical gloves. The company raised freight rates by as much as 50% in some cases and added capacity on high-demand routes as it also saw high-volume shipments of face masks and medical gowns during the coronavirus pandemic, Chief Executive Ibrahim Mohamed Salleh told Reuters. The company declined to give profit figures. “We ran our numbers and it makes money,” Ibrahim said in a phone interview. Malaysia’s medical glove exports are expected to jump about 32% to 225 billion pieces this year, and its gloves association said supplies were being urgently air-lifted to Europe, Australia, Canada and America as customers did not want to wait for the usual sea route. MAB Kargo’s performance during the pandemic contrasts with sister company Malaysia Airlines which has been forced to ground most of its planes as the coronavirus hammered global travel. More: https://www.reuters.com/article/malaysia-airlines-cargo/malaysian-state-cargo-carrier-profits-from-soaring-demand-for-medical-gloves-idUSL4N2CW29Z Share this post Link to post Share on other sites
flee 5 Report post Posted June 6, 2020 PM appoints Petronas CEO as new Malaysia Airlines chairman https://www.malaymail.com/news/malaysia/2020/06/06/pm-appoints-petronas-ceo-to-run-malaysia-airlines/1873049 Share this post Link to post Share on other sites
flee 5 Report post Posted June 6, 2020 Malaysia Aviation Group welcomes appointment of Wan Zulkiflee as new Group Chairman SEPANG: Malaysia Aviation Group (MAG) has welcomed the appointment of Tan Sri Wan Zulkiflee Wan Ariffin as Non-Executive Group Chairman of the Board of Directors effective July 1. Prime Minister Tan Sri Muhyiddin Yassin had announced the appointment of the Petronas chief executive officer and president of Petronas to head the national carrier, in a statement earlier today. MAG Chief Executive Officer and Managing Director Captain Izham Ismail said the senior leadership team looks forward to working closely with Tan Sri Wan Zulkiflee in charting the Group's future. https://www.nst.com.my/news/nation/2020/06/598500/malaysia-aviation-group-welcomes-appointment-wan-zulkiflee-new-group Share this post Link to post Share on other sites
KK Lee 5 Report post Posted June 8, 2020 On 6/6/2020 at 9:52 PM, flee said: Malaysia Aviation Group welcomes appointment of Wan Zulkiflee as new Group Chairman SEPANG: Malaysia Aviation Group (MAG) has welcomed the appointment of Tan Sri Wan Zulkiflee Wan Ariffin as Non-Executive Group Chairman of the Board of Directors effective July 1. Prime Minister Tan Sri Muhyiddin Yassin had announced the appointment of the Petronas chief executive officer and president of Petronas to head the national carrier, in a statement earlier today. MAG Chief Executive Officer and Managing Director Captain Izham Ismail said the senior leadership team looks forward to working closely with Tan Sri Wan Zulkiflee in charting the Group's future. https://www.nst.com.my/news/nation/2020/06/598500/malaysia-aviation-group-welcomes-appointment-wan-zulkiflee-new-group Coming from well oiled petronas, the new chairman will either leave a legacy or retire early. Share this post Link to post Share on other sites
flee 5 Report post Posted June 11, 2020 Khazanah considers providing up to RM5 billion Malaysia Airlines aid https://www.theedgemarkets.com/article/khazanah-considers-providing-rm5-billion-malaysia-airlines-aid-—-sources Share this post Link to post Share on other sites
Lee mh 0 Report post Posted June 11, 2020 Khazanah made no RM5b funding commitment, says Malaysia Airlines https://www.theedgemarkets.com/article/khazanah-made-no-rm5b-funding-commitment-malaysia-airlines Share this post Link to post Share on other sites
flee 5 Report post Posted June 12, 2020 Finance minister confirms no plans for Khazanah to inject ailing Malaysia Airlines with RM5b Covid-19 aid https://www.malaymail.com/news/malaysia/2020/06/12/finance-minister-confirms-no-plans-for-khazanah-to-inject-ailing-malaysia-a/1874837 Perhaps that is one of the reasons why air fares on domestic flights are now very high - none of the airlines got any special aid from the government. Share this post Link to post Share on other sites
flee 5 Report post Posted July 7, 2020 Shareholders awaiting Malaysia Airlines’ strategic plan, says Khazanah https://www.malaymail.com/news/malaysia/2020/07/07/shareholders-awaiting-malaysia-airlines-strategic-plan-says-khazanah/1882331 Share this post Link to post Share on other sites
flee 5 Report post Posted October 14, 2020 Report: Khazanah says Firefly could become Malaysia’s new national airline https://www.malaymail.com/news/malaysia/2020/10/14/report-khazanah-says-firefly-could-become-malaysias-new-national-airline/1912645 Share this post Link to post Share on other sites
JuliusWong 0 Report post Posted October 15, 2020 Suitors no longer interested in Malaysia Airlines https://themalaysianreserve.com/2020/10/15/suitors-no-longer-interested-in-malaysia-airlines/ INVESTOR interest in national carrier Malaysia Airlines Bhd (MAB) has dried up as potential rescuers grapple with their own survival due to a global decline in air travel because of the coronavirus pandemic. At the beginning of the year, there were nine suitors to take over the troubled MAB, but today these offers are “no longer viable”, according to a source with knowledge of the matter. “A merger or rescue of the airline is no longer possible as airlines are prioritising their own survival,” the source told The Malaysian Reserve (TMR). Among the firms said to be in the running were Air France-KLM SA, Japan Airlines Co Ltd and domestic carriers AirAsia Group Bhd and Malindo Airways Sdn Bhd. There have been no updates by Khazanah since April, when it was reported to have rejected a US$2.5 billion (RM10.38 billion) offer by Golden Skies Ventures Sdn Bhd. Share this post Link to post Share on other sites
flee 5 Report post Posted October 15, 2020 Khazanah to liquidate Malaysia Airlines as last resort, turn Firefly into new national carrier https://www.nst.com.my/business/2020/10/632451/khazanah-liquidate-malaysia-airlines-last-resort-turn-firefly-new-national Share this post Link to post Share on other sites
flee 5 Report post Posted October 15, 2020 Firefly to commence jet operations at Penang airport in 1Q21 KUALA LUMPUR (Oct 15): Malaysia Aviation Group’s (MAG) subsidiary Firefly Airlines will commence jet operations from the first quarter of 2021, as it realigns its strategy to better suit the current environment and post-Covid-19. Firefly will be adding up to 10 narrow body jets to its fleet in phases, serving the domestic, Asean and Asia Pacific markets out of Penang International Airport, MAG said in a statement today. “Based on available forecasts, domestic and short haul travel will be most preferred in the current environment, hence it makes commercial sense for Firefly to supply this demand but from the northern region,” said MAG group chief executive officer Captain Izham Ismail. https://www.theedgemarkets.com/article/firefly-commence-jet-operations-penang-airport-1q21 Share this post Link to post Share on other sites
JuliusWong 0 Report post Posted October 16, 2020 Some extra readings: Keeping Malaysia Airlines up in the air - https://www.thestar.com.my/opinion/letters/2020/10/16/keeping-malaysia-airlines-up-in-the-air Malaysia Airlines or Firefly? It is Khazanah's call - https://www.theedgemarkets.com/article/malaysia-airlines-or-firefly-it-khazanahs-call Commentary: Southeast Asian airlines are falling from the sky in this COVID-19 storm - https://www.channelnewsasia.com/news/commentary/southeast-asian-airlines-sia-thai-mas-debt-crisis-covid-19-13272104 As much as a lot of us Malaysia Airlines supporters care and love our national carrier, I think it is time for us to bite the bullet and let MH rest for good. 20 years of mismanagement, after more than RM40billion pour into it, chopping 6,000+ staff, early retirement for many senior and brilliant staff and selling off buildings, aircraft and many other assets, we are still in the woods and getting nowhere. Share this post Link to post Share on other sites
Chris Tan 0 Report post Posted October 16, 2020 The optics are, of course, awful. Bailouts, layoffs, unrelenting government meddling, directionless management, etc. But would Malaysia really be better off without MH? I'd argue not. While it is unfortunate to have had billions poured into the airline, this is one dysfunctional project that does indirectly benefit Malaysians. Not everyone, I grant you, but the travelling public -- including the demographics of this forum -- can choose to avail themselves to the fruits of MH's misery. In normal times, the value was tough to beat. Want Malaysia to be connected to the world? You'll need a national carrier for that. EK/QR aren't going to fill the void left behind by a defunct MH. Low airport taxes and landing fees aren't going to make the likes of LH/AF/LX/UA/QF/NZ fly here. D7 can't connect Malaysia to the world with their here-today-gone-tomorrow approach to its network. Our tourism market already trails behind neighbouring countries. Slashing international routes leaves potential travellers with one less incentive to visit. FY jet doesn't have the reputation or connections to be a true international carrier. Shut down MH and AK/D7 would have no reason to be competitive. Then Malaysians would truly be worse off - higher fares with budget service. But what about the billions that would be saved from future MH bailouts? Surely the funds will be put to some altruistic project for the benefit of the nation, right? Get real. This is Malaysia. In all likelihood the funds will disappear into some shady project from which you and I will not benefit. Share this post Link to post Share on other sites
flee 5 Report post Posted October 16, 2020 We have tried everything with MH for so many decades already. Its time for trying something else. Covid-19 has reset the aviation industry and leveled the playing field a bit as even big airlines need to downsize. Got nothing to lose and maybe something to gain. We won't know if we don't try. Share this post Link to post Share on other sites
jahur 0 Report post Posted October 16, 2020 (edited) 1 hour ago, flee said: We have tried everything with MH for so many decades already. Its time for trying something else. Covid-19 has reset the aviation industry and leveled the playing field a bit as even big airlines need to downsize. Got nothing to lose and maybe something to gain. We won't know if we don't try. Expect 5 years of logistic issue within east msia and west. Who will do dangerous goods and medical equipment air transport? Gov needs to give Airasia(itself has refused to do so for years) funds and 14 months to get it rated but the planes they own are still too small. As of now during covid part of the transportation are being loaded on A332f A333p2c and Rmaf a400 daily ,even prior to covid it has always been the widebody to do it. Yes close down MAB but please prep a smooth transition for essential services. Firefly itself i last heard is also not categorized for such duty while Malindo i am not sure. Maswings itself is rated. Edited October 16, 2020 by jahur Share this post Link to post Share on other sites
Walter Sim 1 Report post Posted October 16, 2020 AK can carry DG Share this post Link to post Share on other sites
jahur 0 Report post Posted October 16, 2020 (edited) 3 minutes ago, Walter Sim said: AK can carry DG Radioactive equipment included? 500kg Genset? Xray mri? Infact Airasia x should be paid more attention to for all of these. Edited October 16, 2020 by jahur Share this post Link to post Share on other sites
Alif A. F. 0 Report post Posted October 16, 2020 Speaking of which, what will happen to MASWings? RAS is still a big thing in Sabah and Sarawak. Share this post Link to post Share on other sites
KK Lee 5 Report post Posted October 16, 2020 2 hours ago, jahur said: Radioactive equipment included? 500kg Genset? Xray mri? Infact Airasia x should be paid more attention to for all of these. Charter flight certainly won't come close to rm800m p.a. Share this post Link to post Share on other sites
jahur 0 Report post Posted October 17, 2020 (edited) 10 hours ago, KK Lee said: Charter flight certainly won't come close to rm800m p.a. You do realise the 2 hour a400m flights cost easily 210k one way? Try multiplying that 5x weekly? Its still cheaper over the 330 so should the gov purchase more heavy cargo transporter for the air force? You also have to take account of commercial cargo such as the 2x weekly 15 tonne construction material Hanoi to kk, OnG logistic items Labuan to Hong kong cannot be carried by them. Should rmaf operate commercially? Doesnt sound right. Will the foreign cargo airliners based 2 twin engine widebody freighters in East Malaysia to replace them? Or should the gov kick up Raya Airways to add more planes asap? These should be the questions answered immediately if mab is to close. Not blubbering about debt. Infact airasia should really hold on to Airasia X as a potential replacement for mab instead of downsizing it to just 2 set crew and 1 a330. Edited October 17, 2020 by jahur Share this post Link to post Share on other sites
flee 5 Report post Posted October 17, 2020 1 hour ago, jahur said: Infact airasia should really hold on to Airasia X as a potential replacement for mab instead of downsizing it to just 2 set crew and 1 a330. Agree that D7 will have much better survival prospects if MAB is liquidated. In fact, they have a nice feedstock for P2F conversion, if they decide to take logistics more seriously. However, the stumbling block is funding because D7 has been bleeding cash for some years already and they don't have that many sources of financing these days. Share this post Link to post Share on other sites
KK Lee 5 Report post Posted October 17, 2020 (edited) 2 hours ago, jahur said: You do realise the 2 hour a400m flights cost easily 210k one way? Try multiplying that 5x weekly? Its still cheaper over the 330 so should the gov purchase more heavy cargo transporter for the air force? You also have to take account of commercial cargo such as the 2x weekly 15 tonne construction material Hanoi to kk, OnG logistic items Labuan to Hong kong cannot be carried by them. Should rmaf operate commercially? Doesnt sound right. Will the foreign cargo airliners based 2 twin engine widebody freighters in East Malaysia to replace them? Or should the gov kick up Raya Airways to add more planes asap? These should be the questions answered immediately if mab is to close. Not blubbering about debt. Infact airasia should really hold on to Airasia X as a potential replacement for mab instead of downsizing it to just 2 set crew and 1 a330. If this demand is regular, there won't be a shortage of entrepreneur crony to offer chartered service even set up air cargo, national airline to milk it. Edited October 17, 2020 by KK Lee Share this post Link to post Share on other sites
jahur 0 Report post Posted October 17, 2020 (edited) 22 minutes ago, KK Lee said: If this demand is regular, there won't be a shortage of entrepreneur crony to offer chartered service even set up air cargo for it. Yes and how many conglomerate folks like Lion air Group or FLC groups are there in Malaysia? You need to be a multi billionaire with political connections to start up an airline not a RM2 dollar bargain hunt fella. The logistic demand and air export is regular. Have you even been to East Malaysia for that matter? Note that how the previous state gov of Sabah fell under Kadazan Dusun Murut votes by the lackluster efforts of Warisan? Roads were in better shape prior to 2017. Contracts for town upkeep in were terminated and nobody in the public wanted to take up until 2020. Engineers were laid off for the Pan Borneo Highway projects. Poor Maritime surveillance effort that everyday we see 30-40 Undocumented immigrants sneaking in per 1% of them rounded up has covid for that matter. While the gov big brain idea was to post an additional 8k soldiers to east coast without giving them proper radar equipment and ships to efficiently scan over the seas. The gov only spends 1.1 % of its gdp on military budgeting whereas vietnam and Philippines were at least spending above 3% heck even philippines increased to 11% now under Duterte. While all the previous and current gov of Malaysia could think about is how scared they are to raise the GDP debt ratio to 68% from 53% while giving out stupid b40 cash handouts when it can be given out to save jobs instead. Edited October 17, 2020 by jahur Share this post Link to post Share on other sites
