Study a 3 points:-
1. In an attempt to accelerate a fortunes of a flag carrier, state asset manager Khazanah substituted 20.5 per cent of MAS batch for a 10 per cent stake in Asia's biggest budget conduit Air Middle East upon Aug 9.
2. The barter enabled Air Middle East bosses kemo-sabe Tan Sri Tony Fernandes as well as his Tonto partner Datuk Seri Kamaruddin Meranun to lay upon a MAS house as well as willostensibly help spin it around.
3. Shareholders of Air Middle East will get a singular free MAS aver for every 10 shares in a low-cost conduit while MAS shareholders will get a singular free Air Middle East aver for every 30 MAS shares.
What does evidently mean? The use of a term suggests, we have been not certain either this a singular time song company executive( who didn't know anything as well about using airlines) as well as an accountant( also nullity during using airlines) can help out MAS or not?
If they have been not certain given were they given a chance to own 20% of MAS? Because a dual had a good of fitness upon their side- when they took over a bankrupted AIR ASIA, with no experience, they had await from people- absolute people. They took that event as well as have a successful career; as a result they merit to be given a respect of assisting out MAS. Plus may be a same absolute people have been still behind them.
The understanding is founded upon several debatable assumptions.
(1) The skills as well as commercial operation enlightenment befitting for a commercial operation like AA can be practical though any detriment in transition in to a environment like MAS.
(2) a lot ! is hinge s upon a commercial operation leadership skills of Tony Fernandes.
What have been we supposed to do then?
(1) Look for a befitting commercial operation enlightenment as well as a supervision team that supports that culture
(2) find a required leadership.
This understanding has been hyped up over what it deserves. MAS is in a sorry state. In sequence to sell a deal, we can muster all a resources to clear this understanding as being of strategic importance as well as all that. It's easy to do that- just assemble all a CFAs who worked during a assorted investment banks, give them a spruced up writeup as well as they will all sing a virtues of this CCF.
But haven't we review as well as listened a same things during your convenience MAS was about to embark upon a little identical programs? When Tajudin Ramli took over MAS, a CFAs wrote a same upbeat notes. When Jala was managing, it was a same. In a end, despite a Nobel prized standard analyses of overweight, marketplace weight as well as underweight assessments, MAS went downhill too.
Running MAS it seems is no longer a subject of applying a technicians' skills. We have been certain MAS wasn't reduced upon that. Dato Tengku Azmil was a trained tip accountant from Australia. we listened he was cited for excellent academic achievements in Australia. He is no mincemeat. Plus, he would have a genuine technical team looking out for MAS. In a end, MAS incurred serve losses as well as he had to be replaced.
Something must be wrong in a simple approach. Khazanah with all a constellation of intelligent stars, accountants as well as MBA's cannot figure out what is a suitable commercial operation enlightenment that's befitting for MAS. It cannot find leadership for MAS. So it takes a easy approach out. Call in a cavalry. So given hav! e been w e paying a people during Khazanah astronomical salaries if they can't handle MAS? This serves to waken my argument that we have been improved off dismantling Khazanah as well as all it investments portfolio eliminated to PNB.
Why do not we let Azman Mokhtar take a little portfolio as well as see either he can work a commercial operation profitably?
Let's clear off a singular alternative thing. This isn't a competition issue. If it is, afterwards we would have quarreled during Air Asia's phenomenal success. We won't have cited negatively a collusion between Kencana as well as Sapura that will effectively create a second PETRONAS. We would not have questioned Sapura's purchase of PNB's UMW stakes in a late 1990s. The thing is, if it were another Bumi removing a understanding in this MAS-AA we will be essay a same thing too. Probably more vehemently given such a understanding would indicate a now familiar modus operandi. Reserve all a goodies for comparison bumiputeras.
Let's indicate this to Khazanah. Find someone who is musically inclined, likes booze as well as women, a football as well as pool enthusiast, likes it so most that he wants to buy a football club, likes racing as well as fast cars given that reflects his libido, camber him up with an accountant- hey presto, Khazanah has a perfect recipe for MAS success. Will that do? No? Then having TF as well as KM upon house will not evidently help MAS.
So we have been not certain either a finish diversion of Khazanah is really to help out MAS. Because if a serious, afterwards having TF as well as KM owning up to 20% of MAS share isn't a prerequisite to assisting out MAS. Not required even to have a dual upon board.
What has happened given then? Don't feign surprise. Yes we asked what has happened as well as what has been publicly pronounced in a reduced span?
The initial thing dear Danny child did was to outlay money. So, all these years, MAS was losing income given people do not know what MAS is. It's now time to have MAS a code name. MAS that is losing income as well as that does not need code marker sponsors jersey for QPR. Having MAS name emblazoned across a QPR jersey will interpret in to larger recognition of MAS as well as have it profitable?
This is a problem when we put in place technically competent young punk though who is a singular dimensional in meditative do his thing upon MAS. The initial thing he thinks is football. After football pub-crawl.
The devise is to worship a idea that MAS operates as a premier full transport airli! ne you do a prolonged transport routes. That will have a giving up reduction painful. The fact is, a prolonged transport routes have not been essential in a initial place with a given commercial operation enlightenment that has been infused in MAS. It's starting to explosve right from a begin given a a singular cause that is murdering MAS-its commercial operation enlightenment that breeds a wrong kind of supervision meditative hasn't been sorted out. That a singular cause has not been excised. It's starting to succumb.
It's forced to give up a essential regional routes that will be taken over by Air Asia. You have been starting to force MAS give up a essential commercial operation zone arguing propelling us to believe that's it's good that way. MAS with a debilitating commercial operation enlightenment as well as fucked up supervision can now contest in a reward marketplace as well as somehow be successful? What kind of warped commercial operation reasoning is this?
You wish us to believe that MAS has been unprofitable given it contains incompatible commercial operation units within it system as well as by forcing it to give up these, a same commercial ! operatio n enlightenment as well as supervision practices that have bankrupted MAS will miraculously spin MAS in to a distinction making airline?
But wait for Dr Pangloss- a circumcision is not finished yet. There's still a lot of foreskin left. MAS has a LCC commercial operation section right? - Yes that a singular named after a fly that emits a own healthy LED? No problem, obstruct it to run to a routes that Air Middle East didn't wish in a initial place may be to places like Tebedu, Pos Betong as well as alternative god-forsaken places requiring turbo propelled planes. Yes a planes that once astonished a little people to curse how as well as given a ruin a little foolish engineers designed planes with fans outside when they should be inside in a initial place.
Sap sap lean maForm a brand new commercial operation section called Sapphire that evokes a little shine in a name to take over essential Firefly's business. We do not get any Nobel awards for guessing who will be a major stakeholders in Sapphire.
It's already happening. Personal commercial operation bulletin nurtured from a opposite commercial operation enlightenment is already being practical to MAS. We can see a writings upon a wall, though insufficiency upon a partial of supervision regulators as well as a almost reverential tolerance as well as rationalization of covetous greed all seemed to have this deal, an upon top of house as well as personal deal. The understanding is serve supported by a nauseating analyses by CFAs. It's all bull.
The 1-2-3- reasons upon top of have been touted as a rationale for a MAS-AA deal. So ok, a understanding has already been done. The idea is to allow someone who is an consultant as well as successful in that attention take over a helm. we contend 'person'- to equivocate treating this as a competition issue.
We have had identica! l experi ence in a past. A person, a Malay was given carry out over MAS as well as when MAS commercial operation got mixed up with his own personal commercial operation interests, things went extremely awry. What happened when Tajudin Ramli helmed MAS hasn't been clearly laid bare for a open to understand. The supervision has to buy back a shares from that chairman by interesting a outrageous losses.
But this time it's different, comes a protest. It's rah rah Tony. He is successful man- surely he can do miracles to MAS. All a others have been fucked up funding fed Bumis man. Non bumis can do improved brother, tamby. This chairman is a terrific businessman with a proven lane jot down in this industry.
The principle is a same- personal commercial operation interests get mixed up with a commercial operation interest of MAS. The presence of a same personal interests creates this understanding innately wrong. As a singular largest shareholder, TF will be job a shots as well as aligning as well as re-engineering a business, though never jeopardizing his own personal commercial operation during AA. Unless someday in a destiny he has been promised, he can have his baked sweat bread as well as eat it too. The destiny of MAS thus is contingent upon a skills of TF as well as AA commercial operation model.
How afterwards do we pledge that MAS will be successful? You get a pledge if MAS becomes a low cost conduit itself. Then that would usually need a transfers of a commercial operation enlightenment as well as personalized commercial operation astuteness of TF that has worked wonderfully for AA to have MAS successful. Simple what? - graft a enlightenment during AA onto MAS.
But let us humor those who wish to spin this understanding in to a competition issue- we have it competition emanate simpliciter- given AA commercial operation is successful given Tony a non bumi is ther! e, let M AS be taken over by him.Setuju?
At a little point in time, we have already told everyone, we wish MAS to work as a premier full transport airline. So ask yourself, will a AA commercial operation enlightenment as well as personalized commercial operation experience as well as astuteness that have AA successful can as well as will also be concordant to have MAS essential as a premier airline?
You have dual clashing cultures that would rught away have we suspect, MAS is already doomed from this deal.
What is it that we wish to do with MAS? we thought we have gone by so many downsides when people! with ve sted as well as personal interests get involve in MAS business. We have been not unfortunate Tony in his commercial operation of making income during Air Asia. He is rewarded for his astuteness as well as skills in a commercial operation field he has chosen. That is his personal interest. He does it by a AA model.
Will he apply a same indication upon MAS? That would place MAS upon incident march with AA as well as if AA is TF's initial love, how will he do probity in his purpose in MAS to support a national airline turn profitable? If he does that given of patriotic reasons, afterwards that would place him in approach dispute with his interests in AA.
He will thus approaching do several things. First safeguard MAS will not contest with AA. So he says, off with Firefly given FF is in approach competition with AA. That's done. Next, take out MAS from competing with routes AA wants. So he counsels a supervision a most appropriate MAS concentrate as a reward full transport airline you do a prolonged hauls.
Can a enlightenment that creates AA successful as a LCC be practical to MAS so that it can attain as full transport reward airline? You have a without delay hostile enlightenment capable of maki! ng a suc cess out of a LCC though that will be unfit to furnish success in a premier airline. Simply given MAS will need to work upon a opposite commercial operation enlightenment as well as commercial operation regimentation.
AIR ASIA as well as a practitioner of a enlightenment is a wrong indication as well as chairman to lead MAS. This is not a subject of hostile a understanding given it gives a non-Malay good as well as profit. This is essentially an emanate of you do a wrong thing to save MAS.
No comments:
Post a Comment