Tajuddin memberitahu bahawa tidak ada penilaian dilakukan untuk menjual saham dalam MAS. Walaupun itu tidak mungkin dibangkang oleh pemegang saham minoriti Naluri Bhd, kerana tawaran kerajaan terlalu tinggi dari harga pasaran, walaupun masih rugi sebanyak RM4.8 juta selepas menjual saham MAS dengan nilai RM1.79 bilion tunai.

Nampak seperti Naluri masih rugi, tetapi tidak juga.

Daripada jumlah itu, RM927.4 juta akan digunakan untuk membayar hutang manakala RM864.5 juta untuk mencari peluang niaga baru. Baki selebihnya akan disimpan di dalam bank untuk memungut faedah RM24.2 juta - sekaligus akan dapat menebus kerugian RM4.8 juta tadi. (Hmmm... itulah trik mudah membuat duit ya! Bukannya berniaga tetapi bermain duit rupanya.)

Qantas dan SwissAir nampaknya sudah tidak berminat lagi untuk meminang MAS. Banyak gangguan untuk memilih janda yang sudah ternoda ini sebagai teman hidup. Lebih baik mereka mencari anak dara yang lebih sihat daripada janda yang belum tentu taat dan setia. Buang masa sahaja mereka berbincang selama ini selagi kerajaan terlalu mengikat hala tuju pengurusan MAS.

Awal minggu ini, Niki Lauda, bekas pemandu kereta lumba dan pengasas Lauda Air, telah menolak tawaran jawatan untuk menerajui MAS. Dia lebih selesa mengetuai pasukan lumba Jaguar Formula One team. Mana taknya, tekan minyak berdesut sahaja. Kalau MAS, belum tentu lagi kerana ada saja sekatannya. Kalau terlalu banyak tersangkut takkan menang punya..... itu resmi dunia niaga.

- Kapal Berita-

Rencana Rujukkan:

http://business-times.asia1.com.sg/4/news/nmsia04.html

8 Feb 2001

No independent valuation in MAS deal: Tajudin

By Eddie Toh

MALAYSIAN businessman Tajudin Ramli has disclosed that no independent valuation was done when the government agreed to pay a hefty premium for his substantial block of shares in Malaysian Airline System (MAS) last month.

"No independent valuation was carried out for the said sale consideration," Mr Tajudin told minority shareholders of Naluri Bhd, in which he owns 47 per cent, in a circular dated Jan 22. Naluri owned 29.09 per cent of the national carrier.

However, minority shareholders of Naluri are not likely to complain although it will incur a loss of RM4.8 million (S$2.2 million) from the disposal of the MAS stake for RM1.79 billion in cash.

The proceeds will come in handy for debt-laden Naluri. Mr Tajudin said RM927.4 million will be used to retire Naluri's debts, while the balance of RM864.5 million will be for new business ventures.

In the meantime, Naluri will place the remaining proceeds in banks and earn RM24.2 million a year -- more than the loss of RM4.8 million from the disposal.

However, the deal created a public furore when the Finance Ministry, headed by Daim Zainuddin, decided to pay RM8 per share for the MAS stake.

The price was below Mr Tajudin's cost of RM8.70 in 1995 but more than double the market price of RM3.62 when the deal was inked. And the purchase price was almost twice the net tangible assets of the money-losing carrier.

Critics of the government and even politicians in the dominant political party, United Malays National Organisation (Umno), have argued that the government could have secured a lower price tag for the shares although they form a strategic stake in the company.

The Finance Ministry and parties acting in concert now control almost 50 per cent of MAS. They have secured a waiver from making a mandatory general offer for the rest of MAS at RM8 per share after having breached the trigger point of 33 per cent.

The government is expected to sell part of its MAS holdings to a foreign party to help turn the airline around.

However, discussions with foreign carriers have been protracted. Qantas and SwissAir have yet to reach any preliminary pact with the Malaysian government after months of negotiations.

Even the search for a new chairman to replace Mr Tajudin has not been easy.

Earlier this week, Niki Lauda, a former racing driver and founder of Lauda Air, rejected an offer to head MAS and will be heading Jaguar's Formula One team instead.