flee 5 Report post Posted July 2, 2014 More here: http://www.themalaysianinsider.com/malaysia/article/khazanah-plans-to-take-mas-private-in-bid-to-revive-ailing-airline Share this post Link to post Share on other sites
KK Lee 5 Report post Posted July 2, 2014 By taking MH private, there won't be any need for bursa filing, a lot more wonder can be done without public scrutiny. Share this post Link to post Share on other sites
Arthur Van Straten 0 Report post Posted July 2, 2014 One thing i forgot to mention in my earlier post. The Grapevine also mentioned that there is no such thing as takeover by Etihad. "You can take that to the bank" Arts grapevine is a certain happy hour lobby at a five star hotel in KL. Where tongs are loose and talk is supposed to be overheard. http://www.phrases.org.uk/meanings/heard-it-through-the-grapevine.html Cheers and good night. Art Share this post Link to post Share on other sites
KK Lee 5 Report post Posted July 3, 2014 One thing i forgot to mention in my earlier post. The Grapevine also mentioned that there is no such thing as takeover by Etihad. "You can take that to the bank" Arts grapevine is a certain happy hour lobby at a five star hotel in KL. Where tongs are loose and talk is supposed to be overheard. http://www.phrases.org.uk/meanings/heard-it-through-the-grapevine.html Cheers and good night. Art Sound like our tax money will be taking to the cleaners yet again. Share this post Link to post Share on other sites
flee 5 Report post Posted July 3, 2014 Khazanah calls MAS privatisation reports as ‘speculation’ http://www.themalaysianinsider.com/malaysia/article/khazanah-calls-mas-privatisation-reports-as-speculation Share this post Link to post Share on other sites
Raymund Yeoh 1 Report post Posted July 5, 2014 How sad to see MH plunge into such despair.......where no one in the Gomen have the guts to do what is right..... Share this post Link to post Share on other sites
flee 5 Report post Posted July 6, 2014 Unions Are Major Hurdles In Mas' Recovery, Says Think-tank KUALA LUMPUR, July 6 (Bernama) -- The major hurdles for the ailing Malaysia Airlines (MAS) to return to profitability are its employees' unions, a prominent think-tank said. Chief executive officer of the Institute for Democracy and Economic Affairs (IDEAS) Wan Saiful Wan Jan said every time efforts were made to reform or restructure the airline towards profitability, the unions would come all out against many of the proposals. "So I think what we need to do to turn MAS into a profitable company is by taming down the influence of the unions. They are a little bit too influential, too vocal, too powerful. Yes, respect employees' rights as it is absolutely imperative that their rights be respected. "But the powers of the unions are sometimes not really in line with the interest of the company itself. It is ironic that the staff size in MAS is too big when the company itself is loss-making. Usually, a company will aim at cutting costs when it is not doing well," he told Bernama. Wan Saiful also criticised the unions for being almost always resistant to change, adding that they should accept change in order for the airline to be saved. He said for the whole company to be saved, there had to be some difficult decisions made and if the unions kept resisting, nothing was going to work. Asked what he thought was the crux of MAS's problems, Wan Saiful said the national carrier was way up there in terms of providing superior service even if compared with the likes of Emirates or American Airlines but it was unable to compete in terms of price. Citing an example, he said for the 45-minute flight to Penang from here, passengers would fly the cheaper option than MAS because it did not matter to them if they were served a sandwich when they could survive without even drinking water on board. Similarly, there is a big difference of a few thousand ringgit extra for passengers flying MAS to Dubai from here compared to Emirates. "So there is severe cost, there is significant cost competition happening and MAS really has to catch up with that. I think this is the biggest problem, they have to significantly cut costs but for some reason this is not happening," said Wan Saiful. "Also one of the biggest expenditures has to be on the staff cost and with such strong unions resisting that change, it is just not going to happen." Wan Saiful also called for the link between MAS as a company or government-linked company (GLC) to be severed. "It has to be cut off. When you cut that off, then MAS has to run as a company by itself. It cannot be dependent on bailout anymore. If you have to close down, you have to close down and then only some sense of reality should sink into the employees and the unions that you cannot play the political game anymore because you are now just another company and there is no one to protect you anymore. "If you cut that link, I think there will be some significant changes," he said. He said for as long as MAS remained a GLC, its employees would always feel that they were safe because whatever happened, the government would always bail them out. Wan Saiful said the issue in MAS was no longer about what business model to adopt but whether or not there was political will to change. "And just like everything else in Malaysia, when it comes to political will to take the hard decisions, it doesn't happen," he said. Share this post Link to post Share on other sites
Arthur Van Straten 0 Report post Posted July 6, 2014 The think tank has spoken. It’s the Unions. “Think tank says unless their influence is tamed down, the national airline is heading into more turbulence.” But if you read the article further, after the union bashing, the tone changes. Now the think tank mentions political interference. And they are called a think tank? So, I asked the International Investment Bank of Timbuktu, I am a client, what their take on MAS is. The answer came within the minute. When the oil price goes down, MAS will return to prosperity. When AirAsia concentrates on India and leaves Malaysia alone, MAS will return to prosperity. When Malindo calls it a day, MAS will return to prosperity. When the Ringitt gets strong, MAS will return to prosperity. When Etihad buys the six A380, MAS will return to prosperity. There were fifteen more reasons but I will spare you those, you would get bored. I think you get the drift already. I thought only the banks analysts were kicking in open doors. But now also the think tanks are contributing. The next interview you will read in the papers or blogs on the subject, is the opinion of a Nasi Kandar restaurant owner in Chowkit who will tell you how its done. You will be surprised how simple his solution is. And he did not go to school. Cheers Art Share this post Link to post Share on other sites
Radzi 2 Report post Posted July 6, 2014 How many "unions" are there in MAS? Share this post Link to post Share on other sites
Syukri 0 Report post Posted July 6, 2014 (edited) Is NUFAM counted? MAPA is not a union... So it would make it,one? Only MASEU Edited July 6, 2014 by Syukri Share this post Link to post Share on other sites
Pall 0 Report post Posted July 7, 2014 Just for info, MAS is top heavy. Those big fat earners are bleeding the company dry. Not the vocal union members who work the most and paid the least. There is a reason why union members bark the most when so-called changes are proposed. Its bread and butter to them, while the carefree big fat top heavy management people most of the time will be thinking of what new German car to buy. Its not fair to just criticise the unions all the time. These union members served MAS all their life, while those you-know-who joins the show for few years, milk it dry and leave the company to rot. Share this post Link to post Share on other sites
Arthur Van Straten 0 Report post Posted July 16, 2014 Aha, now we are getting somewhere. After the analysts and think tanks, now the universities have spoken. The unions must take a pay cut. Simplicity always wins, the ivory tower syndrome. http://www.freemalaysiatoday.com/category/nation/2014/07/16/take-pay-cut-mas-unions-told/ Who's next. Cheers Art Share this post Link to post Share on other sites
Mohd Suhaimi Fariz 2 Report post Posted July 17, 2014 (edited) Who's next. Cheers Art Petaling Jaya - The Non-Aligned Group of MAS Employees (NAG.ME) is urging the management to take a 100% pay cut in the interest of returning the company back to black. The group argues that the cut would be able to provide significant savings on staffing costs, as well providing the impetus for increasing productivity levels at the company... (This is a parody. I will not be held responsible should you not be able to differentiate between parody and factual news. So there ) Edited July 17, 2014 by Mohd Suhaimi Fariz Share this post Link to post Share on other sites
flee 5 Report post Posted July 17, 2014 Very sad to see MAS being reduced to a joke for all and sundry. I just don't understand why Khazanah thinks that it has so much time to prepare plans for MAS. MAS is like a jet engine - it will take some time for the engine to spool up to deliver power. As such measures taken now will need time to work through the system before it shows results. Delaying any urgent actions will mean that it will be more difficult for MAS to recover and it will also take a lot longer. Share this post Link to post Share on other sites
Mohd Suhaimi Fariz 2 Report post Posted July 17, 2014 Very sad to see MAS being reduced to a joke for all and sundry. I just don't understand why Khazanah thinks that it has so much time to prepare plans for MAS. MAS is like a jet engine - it will take some time for the engine to spool up to deliver power. As such measures taken now will need time to work through the system before it shows results. Delaying any urgent actions will mean that it will be more difficult for MAS to recover and it will also take a lot longer. Funny thing, the share swap was done in rapid fashion that it came out as a surprise to everyone. Now, they have to take time. And I thought only high flying performers are working in Khazanah - I guess I was wrong. Share this post Link to post Share on other sites
V Wong 0 Report post Posted July 17, 2014 The golden goose has stopped laying eggs and no one is interested anymore? Parasites and the likes know when to jump ship and attack next money making target. Share this post Link to post Share on other sites
Arthur Van Straten 0 Report post Posted July 17, 2014 Starting at post # 187 and #187. When one has to come to an unpalatable conclusion, it is better to take all available time and present it when there is really no suitable alternative anymore. Time has ran out by then and there you are, unpalatable becomes palatable overnight. Politics 101. And for more parody as per post # 185, My Nasi Kandahar Chowkit supllier says." Give me the MAS catering contract and i wil slash catering prices by 90 percent." "Then Skytrax will introduce back the award for best signature country dish and it will go to MAS for umpty years." And, he added, "for good measure, the management should work for minimum wage and be rewarded when the company makes profit." You see the simplicity? No need to be a University professor. All wisdom is on the street, F.O.C. Cheers Art Share this post Link to post Share on other sites
KK Lee 5 Report post Posted July 17, 2014 Funny thing, the share swap was done in rapid fashion that it came out as a surprise to everyone. Now, they have to take time. And I thought only high flying performers are working in Khazanah - I guess I was wrong. Very sad to see MAS being reduced to a joke for all and sundry. I just don't understand why Khazanah thinks that it has so much time to prepare plans for MAS. MAS is like a jet engine - it will take some time for the engine to spool up to deliver power. As such measures taken now will need time to work through the system before it shows results. Delaying any urgent actions will mean that it will be more difficult for MAS to recover and it will also take a lot longer. The only viable solution is politically unacceptable or suicidal, hence easier to leave it to fly on auto pilot until fuel run out. Share this post Link to post Share on other sites
JuliusWong 0 Report post Posted July 17, 2014 Hence Nazir Razak is in to clean up the mess. He is a no nonsense CEO. Good luck for underperforming GLC. Share this post Link to post Share on other sites
Mohd Azizul Ramli 2 Report post Posted July 17, 2014 And I thought only high flying performers are working in Khazanah - I guess I was wrong. This is so not true (although that was the impression I had 10 years ago). Khazanah is full of people who actually made me left the country to seek for employment abroad 9 years ago. Share this post Link to post Share on other sites
jani 0 Report post Posted July 23, 2014 MAS and Air Asia X merger being mooted in the market.. Take rumor with pinch of salt.. But wait and see Share this post Link to post Share on other sites
flee 5 Report post Posted July 24, 2014 MAS and Air Asia X merger being mooted in the market.. Take rumor with pinch of salt.. But wait and see Not going to happen... Share this post Link to post Share on other sites
jani 0 Report post Posted July 24, 2014 Right on the money.. http://www.theedgemalaysia.com/highlights/299991-highlight-mas-airasia-x-to-merge-hl.html Share this post Link to post Share on other sites
Johan Z 0 Report post Posted July 24, 2014 I don't see that will happen too. It happened in the past (sort of) and both parties have learned it was a (big) mistake. Share this post Link to post Share on other sites
jani 0 Report post Posted July 24, 2014 At present, it is just one of the many options presented to MAS which include privatization/bankruptcy/spin-off of MAS Engineering and Firefly. Personally I also don't see this as a good move for MAS but apparently for this proposal, it also includes some sort of share option scheme for MAS employees to counter any protest. We'll see how it goes as more information is leaked out. Share this post Link to post Share on other sites