Mahathir "privatised" MAS to the inept tycoon Tajudin Ramli. That was the beginning of the rot.
Mahathir is to be blamed for the ails and ills of MAS. It's not privatisation, but the right kind management with the right people, irrespective of race. Take Emirates Airlines, which is helmed by Tim Clark - if you need a foreigner to take charge, so be it.
There was a time when MAS and Singapore Airlines (SIA) was known as Malaysia-Singapore Airlines (MSA). They split and where is SIA now compared to MAS today?
SIA has 27 Airbus 330s, 19 380s (five more on order), 58 Boeing 777s, while MAS has 19 Airbus 330s, six Airbus 380s, and 14 Airbus 777s and 50 odd 737s.
SIA has been making profits, while MAS was bailed out at least three times. Petronas, the country’s cash cow, and Malaysian taxpayers have also bailed out Bank Bumiputera, Proton, etc, a number of times.
In a country endowed with all kinds of natural, human and other resources with no natural calamities like earthquakes, volcano or hurricanes and 365-day growing season, we should be all enjoying a very high standard of living.
Nasi lemak udang galah? $20 to $50 per plate? If ever it happens ... MAS will lose more ... why? Full payment for all seats available -the lopsided agreement , even with low filled capacity... u need to kill brahim first... this brahim is such a parasite ... it will sucks mas's blood either ways... apa pasal dewan negara and dewan parlimen tak komplen cukup2 pasal brahim dan penyangak2 yg menetapkan destinasi penerbangan mas utk kepentingan perniagaan sendiri dan bukan utk kepentingan mas sendiri secara spesifik? Destinasi ke france dan south africa dgn frekuensi yg tinggi tapi kapasiti yg rendah adalah kebodohan dan ketirisan yg sgt jelas... mmg BS... 2nd thing freeze pengambilan pekerja baru ... org lain nak kurangkan kos ... penyangak2 ni masukkan saudara mara dia kerja kat mas walau da overstaff ... budus .. takde monitor ke? Ceo buta ke? Management buta? Or they are involved in this incredible joke? Terang lagi bersuluh ... takde syarikat yg ada 9 hingga 11 union kecuali mas ... world ripley's believe it or not ... 20k staffs
Until they start firing employees to improve efficiency, this company can not turn around! They are not going to privatize it, because this will make it harder to fire people. And firing people is the only way they are going to survive. I just hope they (management) do what is necessary! Malaysia Boleh, get it!
Take pay cut, MAS unions told July 16, 2014 Unless the MAS unions are willing to work with the airline to get over its financial woes, nothing is going to change, say economists KUALA LUMPUR: Two economists have advised employees of Malaysia Airlines System (MAS) to get their priorities right to enable the national airline to survive these turbulent times. Universiti Utara Malaysia’s Prof. Dr. Amir Hussin Baharudin said it would not serve any purpose for the unions to demand a meeting with the Prime Minister without any concrete plans to turn around the airline which itself is overstaffed. He said he was baffled as to what role the unions were actually playing in the airline’s deep financial woes because they portrayed themselves as neither adversaries nor friends. He said when Japan Airlines was facing financial distress like MAS, its employees rallied behind the management and it emerged stronger and more profitable. Dr. Amir Hussin said union activism and unreasonable demands when the car market was weak, were major causes for bankruptcy in 2008 of 100-year-old General Motors and at one time the world’s biggest car maker. He also cited what happened at Delta Airlines, another American company, as lessons which unions affiliated to MAS can learn from. When Delta Airlines was bleeding like MAS, the first initiative came from the employees, including pilots, who voluntarily took a pay cut and with the CEO taking a 35% cut, he said. “This was supposed to be a temporary measure until the airline got over its problems but the workforce decided to continue being paid less as long as they kept their jobs. Since 2006, Delta Airlines has become stronger and much more profitable,” Dr.Amir Hussin added. “So if the MAS unions in wanting to meet the Prime Minister are willing to take a pay cut and forego their bonus for the next five years, I think even he would be happy to meet them. But if this is not the case, then forget about it, as nothing will be resolved. “Without the workers and management seeing eye to eye, it may be the last time we need to talk about MAS,” he warned. University of Science and Technology School of Business dean Dr.Yeah Kim Leng, who is also ex-group chief economist of RAM Holdings, said the demand of unions for the resignation of the airline’s top management executives was a distraction and could derail any proposed restructuring plan. “Firstly, it should not be politicised and be purely made as commercial decisions. So, the less political interference, the less political consideration, the better for MAS in terms of having a more sound and commercially-viable restructuring plan,” he added. – Bernama
Malaysian Airline System Bhd's (MAS) minority shareholders have demanded to be included in the loop of any plans to restructure the ailingnational carrier.
The shareholders, through the Minority Shareholders Watchdog Group (MSWG), said plans being considered by majority shareholder Khazanah Nasional Bhd should include other shareholders who have been longterm investors in the airline.
Very difficult for minority shareholder to have a real say as this will slow down the process and put another hindrance in the process.......................
Mas is a bankrupt company financially with no ideas....being a National Carrier, Khazanah have to come out with some positive news so MSHG better stay out not to mess up.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
getrich
645 posts
Posted by getrich > 2014-07-13 09:41 | Report Abuse
If it ever go private... what price will shareholders willing to agree