Khazanah Has Own Agenda ??? : Dr Mahathir, Just Fire The BOD of Khazanah, MAB / MAS, The Whole lot

My comments :  The problem with this really stupid government (and getting more stupid by the day) is that they still carry on the previous government's policies of not only keeping the non performers, the losers and the fools but often promoting them or moving them around to hold other portfolios.

For the life of me I cannot understand why after MAS made so much losses about 10-15 years or so ago, they still kept almost the entire Board intact.

When Khazanah Nasional managed MAS right into the ground they never changed the Board and that fool of a  Khazanah CEO was still kept on board by the Bugis Dayus.

Just fire the Boards - of all these companies, the holding companies, the operating companies - the whole lot. Also the CEOs. Just get new people to manage them.

There are 32 million people in Malaysia. You mean you cannot find a few good people to manage these assets properly? 

Here is a news report from Reuters about the MAS sell-off :

Air France-KLM proposes buying 49% of MAS, JAL seeks smaller stake

Reuters - Proposals include Air France-KLM which wants 49%

Japan Airlines looking at 25% stake

Malaysia’s government found proposals from foreign airlines more attractive

bids from foreign carriers more comprehensive and strategic 

both plan to capitalize on strategic location of Malaysia for their operations

Air France-KLM said “active yet pragmatic” approach 

JAL looking to expand its partnership with MAS

government received five proposals Dr M said Monday

govt wants to get an investor finalised this quarter.

MAHATHIR AND KHAZANAH AT ODDS

Air France proposed hub for maintenance, repair, overhaul services in M'sia

JAL offered to make Msia regional hub, including for low-cost flights

international solution is probably better 

 

potential for massive hub in Southeast Asia 

intn'l airlines see value in MAS because of this

Dr M “not completely happy” with how Khazanah evaluating proposals 

“Unfortunately, Khazanah has got its own agenda so I have to check them,” he said. 

My comments :

As I have said so many times - there is no free market in Malaysia. There is no competition. We suffer all these economic losses because we allow monopolies and oligopolies to ruin our economy.

Tuan-tuan we need more competition. We need a more open market.

The GLCs, especially Khazanah Nasional, please get  out of business. 

Do not compete with the other legitimate businesses in Malaysia.

It is unfair competition. 

The GLCs are owned by the government which is also the regulator. 

The GLCs have access to unlimited taxpayers' funds. 

This is unfair competition. 

Not only that but the simple fact that the GLCs have access to taxpayers funds and the regulator (government) is also their shareholder, makes them lazy and stupid businessmen. 

That is why after decades and decades the GLC bosses still do not know even simple business. 

They all fail.

Coming back to MAS we really need more competition. 

We must really open up our skies to more competition.

The proposal by the foreign airlines (who want to take over MAS) to create a South East Asia aviation hub operating out of Malaysia, to create a maintenance and engineering hub here are all interesting proposals.  This is something new.

In this acquisition of MAS I vote for anyone who can :

1. introduce more competition into the airline industry here, no more monopolies and oligopolies

2. turn MAS around 

3. expand Malaysia's footprint in the airline industry (Malaysia becomes a flight hub, a maintenance and aero-engineering hub etc)

4. create more and more aviation industry  jobs for Malaysians (pilots, air crew, ground handling, aircraft maintenance engineering, air cargo, logistics hubs etc) 

We need to create new wealth.

Not "distribute" the same amount of wealth to more or less the same group of people.