Najib Razak

Admission by Khazanah Nasional that they are a failure

This is taken from Khazanah Nasional’s restructuring plan booklet on Malaysia Airlines..

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The bosses in Khazanah Nasional even lent perspective in their failure and put it in one para:

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So what do we get after four failures by Azman Mokhtar’s team? RM17.4 Billion were spent without any results at the cost of 1,700 Trust Schools and 200,000 rural households have no running water and electricity.

That is the cost of failure by those who run Khazanah Nasional.

And yet, they have the gall to tell us (again) that this time around, the restructuring effort will be guided by principles of transparency, fairness and compassion?

Their ego must be the size of the moon, their stupidity must be as deep as the pacific ocean.

Do we want to trust these rich no-hopers again?

On another note, how long do we want to see a family member of Ketua Pemuda Umno Malaysia getting millions of profits at the expense of MAS? Food catering contract between MAS and Brahim LSG Skychef must be terminated immediately. Don’t they dare ask for compensation. Khazanah must take responsibility. Is there no one to be accountable for these failures and grand theft con? They used MAS to enrich themselves and now running the institution down. Khazanah Nasional must not get away with all these holier than thou remarks they put in their little ‘restructuring plan’ booklet.

11 thoughts on “Admission by Khazanah Nasional that they are a failure

  1. High class, well-educated idiots. In addition to the RM17+ billion wasted on MAS, we also wasted hundreds of thousands in sending these Khazanah cerdik pandai off to universities.

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  2. I told you the ipp ceo was a mistake. Anyone in the oil and gas will be able to detect MAS has no emergency response plan when it comes to mh370 loss of communication and lacking in their risk assessment for mh17. That is why western corporates are avoiding the airline and loss of business class passengers.Both of this weakness will lead to their operations department. That is why MAS executive all look blur during news conference. And questions on why dca radar cannot detect ‘turn back’ when it flew right over penang airport is another big mystery. The chief should say Bocelli and not Ballotelli.that haprak hp6 dca chief should be beheaded for mentioning the wrong person. Arrested under treason and impaled for tarnishing the good name of the country.
    Now everybody blame brahim. But nobody blame mahb.they over charge mas for their airport services.in some cases almost double what they charge airasia. Like international airport taxes. How to compete? And those idiots at MAS management playing golf with mahb neber complain. Just pay and pay like PAP in singapore. at least tony complain about high charges.brunei airport tax is less than half of what mahb charges MAS at kk airport. So how? Might as well use brunei as hub for international flights for miri and kk customers.
    The guy who calls the shots at khazanah is not this fat malay guy, but the indian muslim at ministry of finance.
    Now we wait forthe result of the S$1.4 billion(RM3.4bil roughly) in development taxes due to singapore for the ktm land exchange.

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    • Yup temp1

      You should praise Brunei because she knows how to handle chinese immigrants.

      “There is a special group of ethnic Chinese in Brunei: they were born and raised in the country; they are well-off, well-educated and enjoy social status. They also love the country.

      However, what is printed in the “nationality” column of their passport is not “Brunei”. It once read “stateless” but now declares “permanent resident”.

      http://usa.chinadaily.com.cn/epaper/2013-12/19/content_17184934.htm

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    • I tend to agree with you in some of your views…the DCA Chief for one…
      He cant speak fluent Malay neither can he speak English…so most of the times I dont get what he’s trying to say..
      Apparently it looks like MAHB is overcharging MAS…it is robbing Peter to pay Paul.
      Finally the Indian Muslim guy at MOF you ‘re referring to ( who is also the MaGIC Chairman/Adviser) …..you’re right.

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  3. Why GLCs always a failure? Its the way they run the business. If you have bad intentions even if you put CEOs from the sky they would not make the company a success.

    In my views :-

    1. MAS operations have to shut down just like airlines that went red..like JAL had done.
    2. Ultimately disbanded the MAS Union.
    3 Recruit new staff.
    4. Retain some who can perform – from top to bottom – and they have to agree to new working conditions.
    5. New recruits will be subjected to new terms of working conditions.
    6. Equal distribution of high load routes between MAS and LCCs (eg. Air Asia).
    7. Taxes should be charged equally among airlines (MAS & LCCs) using the same airport facilities.
    8. Last but not least the CEO of the country must have the political will and courage to ensure the above
    changes or any changes for that matter in line to running a real business and not just a Ali Baba business.

    Thank you.

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    • Why GLCs always a failure?? I dont get this, since when Sime Darby, UEM, Felda,TM, Petronas, Maybank and scores of other GLCs are considered a failure? Or did wanitabukitinggi think that MAS is the only GLC in Malaysia. Seriously wanitabukitinggi, you ought to read more because I have not found a reason to be astounded by your intelligence, if any.

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      • GLC’s are a failure. Can petronas exist without the initial support of the states? Sime Darby and their very cosy relationship with E& O.maybank and forced nationalisation of a bank that once belonged to khoo teck phuat and almost monopoly with cimb on glc and gomen investment banking jobs? Felda mega failure coming soon by the way things are going. But you won’t hear about these failures because the gomen will bail them out before anything disastrous happens. 1 MDB and ekuinas fun funds to watch as they are doing nothing except buy companies at a premium just like their glc cousins.

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        • By your logic standard, if the states do support overwhelmingly, could other corporations survived? Could IOI makes tremendous business expansion, could Yee Lee oils rakes up profits every year? If petronas seem doomed to you, why would foreign states want to grant oil explorations to them? Why India road contracts were tendered to UEM and why would Sime Darby received jobs at Qatar? The question still arose then, can temasek survived without PAP government intervention?

          Not everything is rosy the same way that not everything is gloomy. But for pessimistic like yours, it surely a doom and gloom all the way. You could criticise something, but to put all eggs in one basket is too much and being pessimist is not all wrongs except when you did it without any intentions of setting it right.

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