It's the Tajudin Ramli story again. Where did Daim find this guy?

He's embarassing! He goes around giving press conference saying he actually made MAS so successful that the price he wants to sell of RM8.00 per share is too low!

MAS shares is around RM3.80 today and will not be much higher.

Singapore Airlines by comparison is as big as MAS (in terms of no of airplanes and same route and destinations) but has nearly 20 times more market capitalisation. MAS is expected to annouce losses of at least RM500 million by end March 2001 while all other airlines in the region will announce profitability!

Tajudin boldly announced either SwissAir, KLM or Qantas is interested to acquire a stake in MAS. Not only are they NOT interested, even Brunei(through their investment agency) sold their stake in MAS and for RM4.00!

Now Tajudin goes to Daim and Daim will have to look at which RAKYAT's FUND to use to bail out this guy...and now it is understood that the Pension Trust Fund (Kumpulan Wang Amanah Pension) will be used! And would it be at RM8.00, and if so, WHY? Are we so dumb to think that this 223 million shares of MAS that he owns are going to double up soon to RM16.00?

MAS needs a new guy, a real competent guy,the kind that delivers.

Here's my suggestion what the guy must do: HE MUST

1. Care and motivate the 16,000 MAS staff
2. Do a deal to protect future increase in fuel price(hedging la!)
3. Not privatise to himself like the MAS Cargo, MAS Catering,MAS Boutique and milk the money privately into his bank account.
4. Tell the government to not interfere in his running of the airline

...and where is Tan Sri Abdul Aziz?
^
Jo Taharin
10 December 2000

Some Reference:

Source: AFP

http://news.catcha.com/my/content.phtml? 1&010&&afpnews.cgi&cat=malaysia&
story=001201125103.40f3df3s.txt

Brunei Investment Agency sells stake in Malaysia Airlines

KUALA LUMPUR, Dec 1 (AFP) - Brunei Investment Agency has sold its stake in loss-making Malaysia Airlines Systems Bhd. (MAS), the national carrier announced Friday.

The Brunei agency sold its 9.09 percent equity in MAS, or 70 million shares, to an unidentified "beneficial owner" for an undisclosed sum, it said in a statement to the stock exchange.

MAS did not say when the stake was sold.

It is unclear how the sale affects MAS foreign shareholding. About 16 percent of the airline was in foreign hands, including the Brunei investment.

The government in July authorised MAS to raise its limit on foreign shareholdings from 30 percent to 45 percent.

The government was now in talks to take over the controlling stake in MAS from its executive chairman Tajudin Ramli.

It is then expected to sell part of the stake to a foreign buyer to improve MAS's competitiveness. SwissAir, Dutch airline KLM and Qantas Airways of Australia have expressed interest.

Tajudin, who has been MAS chairman since 1994, holds 29.09 percent equity through his company Naluri Bhd.

Naluri has debts of close to one billion ringgit and Tajudin is keen to sell the stake.

Earlier this week, MAS announced larger-than-expected interim losses but analysts said its fortunes could turn around amid restructuring plans.

MAS posted a net loss of slightly more than 398 million ringgit (105 million dollars) in the six months to September, against a profit of 275.009 million ringgit in the same period a year earlier.