Robbery At MAS

MAS, AirAsia to announce decision to unwind share swap deal today

• MAS and AA will forge ahead with their collaboration agreement .. set up joint ventures (JVs) for joint procurement, pilot training and aircraft maintenance and repair 
• comprehensive collaboration framework (CCF) inked last August
• a string of abandoned proposals by MAS, including the ending of talks with Australian carrier Qantas  

("forge ahead" !! A string of abandoned proposals because the Khazanah Nasional idiots running MAS do not know running a business from a hole in the ground)

• AirAsia chief Tan Sri Tony Fernandes and his partner Datuk Kamarudin Meranun will probably give up their board seats on MAS 

(So what? The deal they have now is even better. Now they can take MAS to the cleaners  without having to be sitting on the Board of MAS and without having to deal with the Unions. The Unions have been by passed).

•  mutually beneficial collaborative agreements 

(Mutually beneficial my @$$.  Its  "satu untuk kau, dua untuk aku, dua untuk aku, satu untk kau" all over again. Do read on.)

• to cooperate on areas such as aircraft purchasing, engineering, ground support services, cargo services, catering and training.  

(This is not "cooperation" ok. MAS will eventually rescue Air Asia by buying Air Asia's 200 Airbuses which have no where to fly. MAS must provide engineering, ground support services, cargo services, catering and training services for Air Asia which does not even own a screw driver to maintain their aircraft. It is money out of MAS' pocket into Air Asia's pocket - now through the clever and devious mechanism of "JV").  

• proposed JV will look into collaborating on pilot training and infrastructure, and the third on component, maintainence support and repair services. 

(Folks, this means Air Asia will get to use MAS' pilot training simulators almost  for free. Why? Because now there will be a JV company between MAS and Air Asia for pilot training, infrastructure - use of ground equipment, mobile airbridges etc.  Hutang lambat bayar pun takpa mah..sekarang sudah ada JV.

They will also get to use MAS maintenance support and repair services also almost for free. Why? Because there will be a JV company between MAS and Air Asia for maintenance services.  Bayar hutang lama sikit pun takpa mah..sekarang sudah ada JV.

And what is the consideration for MAS to enter a JV with AA for pilot training, aircraft maintenance, spare parts, procurement and so on? MAS has pilot training simulators, AA has none. MAS has maintenance, AA has none.  MAS has infra, AA has none.  MAS has screw drivers, AA has none.  So what does AA give MAS in return for entering into a JV.  Can you all see who is being suckered here?

And hellooo MAS Unions - you guys are going to get liwatted. Because when the new JV companies are formed, the JVs will hire new workers or issue them new contracts which can (and most likely will)  bypass the MAS Unions. There may not be any Unions allowed in the new JVs between MAS and AA. So the Unions cannot do anything about the JVs. In one stroke the MAS unions would have been bypassed. Hangpa semua boleh kena liwat.

Here is something else. Air Asia has a reputation when it comes to paying their bills on time. They owed MAB and MAS tens and maybe hundreds of millions of Ringgits for  ground services, maintenance and such.  Air Asia does not do maintenance in Singapore also because of payment issues. 

If they JV with MAS,  firstly they wont have to worry about credit periods.  Takkan their own JV will sue them or deny them services if the bills are not paid? Get the picture? 

One month hutang can stretch to three months, three month hutang can stretch to more months and so on. How is MAS going to force their "JV" partner to pay the bills?

And the JVs with MAS will also enable Air Asia to buy spares for their airplanes using the good credit standing of MAS.  They will put the MAS logo somewhere on the letterheads and buy spare parts for their planes on credit again. Then if the payments are late, they can exploit MAS' credit standing.  Folks, MAS means taxpayers money ok.)

AAX may also have a public listing (IPO) in sight. Talk is if Air Asia manages to snag MAS in all these clever JVs, then the intended IPO of Air Asia X  may suffer less turbulent flying.  They need to show the Investment Bankers and the Regulators that they have the maintenance support, spares are available, their bills are paid, they have the infra equipment and such. 

They also need to convince the Investment Bankers and the Regulators that those 200 Airbus A320s which AA has ordered have an exit strategy. Parking them on the apron with no where to fly is not an option.  Someone has to  take over those 200 A320s. 

This is where the part about  "set up joint ventures (JVs) for joint procurement" comes in.

This is the biggest load of crap that I have read yet about this whole MAS - AA fiasco. MAS has been around for 50 years. As though they do not know where and how to buy aircraft? It is AA which has placed an order for 200 Airbus A320s and dont know what to do when all those planes start arriving.  So why not unload the planes onto MAS -  and it will not be cheap either.)

• MAS, 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

(FOURTH turnaround since 2002?? And by the same idiots who ran Binafikir in 2002, then later got promoted to Khazanah Nasional. 

• The plan also aims to narrow MAS' losses to a base case RM165mil net loss this year.

Folks their "base case" is a loss making  option.   Here is my advise to the MAS employees and the MAS unions. Peaceful assembly and peaceful protest is now cool in Malaysia.  Everyone is doing it. You must all get together and protest peacefully against this plunder of MAS  ever since the Khazanah  idiots got into the picture.   Walk out and walk to save MAS.  

Make some demands.  Keep your demands simple :

1.  First of all ask the Gomen to kick out that idiot from Khazanah Nasional. Secondly ask for MAS to kick out his crony who is now ruining MAS.

2.  Insist that all share swaps, collaboration, communication and contact with Air Asia be terminated. They go their way. Leave MAS alone.  Ask them to pay cash for all your services. No cash, you go in the trash.

3. MAS has to stop giving retired Senior Civil Servant discounts.  Why should retired KSUs pay only 10% for a first class ticket to anywhere? Tell them to pay full fare just like anyone else. Or fly Economy lah.  That costs a lot of money.

4. Ask for an insider - a MAS career man - to be appointed as CEO.

5. The entire MAS Board of Directors must be changed. Obviously they have been doing nothing other than scratching their nuts.  (Ya lah - "MAS, undergoing its fourth turnaround attempt since ...2002").  Ask for a Blogger to be appointed to the MAS Board. I know one Blogger who can wring these peoples' necks. 

However folks, I feel that MAS really does not have a chance against all these vampires. The MAS Advisor is Slumberjack. Slumberjack's former 'Media Thief' is a major stakeholder in Air Asia.  The catering services were earlier sold to Slumberjack's family member.  

So in the final analysis I think MAS is  screwed.  Unless the MAS employees really do something about this.