Since Ahmad Jauhari was only appointed as a brand brand brand brand brand new CEO recently, he must have had a ve! ry difficult shortcoming to safeguard MAS makes distinction though he must additionally be wakeful of a a past performance, as well as celebration of a mass by a MAS Annual Report for 2010 there have been some salient points to consider.
The front page of a 2010 MAS Annual Report has a vast print"GROWTH" followed by a next page saying a vision; "To be a Number One Airline in Middle East by 2015" as well as a mission; "To be a Consistently Profitable Airline".
No, it is not a joke!
Of course, what actually happened was which notwithstanding recording a 5% aloft income of RM3.565bil compared to RM3.40bil in a prior quarter, Malaysia Airlines done a net loss of RM478 million for a third entertain of 2011 finished 30 September 2011. Ahmad Jauhari as well as organisation attributed this to aloft fuel costs as well as unrealized foreign exchange losses from outstanding USD borrowings. The cumulative year-to-date net loss for a Group stood during RM1,247 million.
Securing their own fees first
The MAS annual inform afterwards showed a airline's journey via 2010 with so most milestones being completed involving signing brand brand brand brand brand new agreement for maintenance in between a organisation as well as alternative airlines, a impasse in a being uncover TV program, charity event, rising of brand brand brand brand brand new routes, rising of brand brand brand brand brand new products associated to holidays, brand brand brand brand brand! new com mercial operation partnerships as well as all sorts of seemi! ngly pro fitable commercial operation ventures. But few sum were since as to possibly these unequivocally done money, nonetheless by now, Malaysians know MAS has been losing income for quite a while.
Unfortunately a initial critical information MAS focused upon is a house of directors, their re-appointment, appointment of brand brand brand brand brand new members as well as a capitulation of a directors' fees. Yes, which is their initial order of business.
Then, it moved upon to some-more shares being allocated to a relevant directors as well as all a legal mandates indispensable to safeguard which no have a difference possibly MAS was creation distinction or starting broke - a positions as well as all a entitlements of a entire house could be secured first. No discuss of ensuring which MAS done profit, or of expulsion of wastages as well as hurtful practices as well as essential behind a income MAS owes a government from all a bailouts by a years.
It was additionally listed which underneath a MAS umbrella, there have been 22 subsidiaries as well as 6 investment associates. The clarity a single get when celebration of a mass a inform should be considerable though there was nothing created possibly any of them have been losing income or if all of them have been creation profit. Surely since MAS' mission is to consistently have profit, these commercial operation ventures should be profitable. But have been they creation profits?
Looks can be deceiving
The inform additionally showed multiform organisation photographs of a people concerned in handling MAS though nothing looked smart enough to run a company. One man has a sneering grin upon his face. The a single seated as well as a person station behind him looked smug, while a lady who was station attempted to demeanour considerable as well as a man station upon her left attempted to feign a smile.
Another organisation photo a! s well a s this time with all a group station as well as additionally perplexing to feign a grin left a single with a most uncomfortable feeling. Maybe, they felt happy about a income each of them were starting to get. Certainly, nothing looked worried about a financial status of a company. But since would they wish to smil! e when M AS has not been creation income for multiform years already?
Competent house of directors?
Then! a rep ort printed out in detail a curriculum vitae of a tip government to impress a readers. But if they have been all which good, since is MAS still losing money? Are they unequivocally good? Good during what? Losing money? Siphoning money?
The next section of a inform proves a indicate which a whole government organisation is packaged with amateurish souls when a division for year 2010 was spoken to be usually 7.2sen per share! But MAS managed to fly 15.7 million passengers as well as a sum income for a organisation was RM13.6 billion.
Still, since sum output was RM13.5 billion before tax, no wonder MAS was means to compensate usually 7.2 sen division per share!
It is usual clarity which MAS must revoke a output to get some-more distinction though unfortunately there is no such bid to revoke a output since a volume of income which needs to be siphoned out has been fixed. Cynical? Look during a carrier's loss jot down then.
Is a brand brand brand brand brand new MAS CEO as destroyed as a others?
So a bid as well as planning by a brand brand brand brand brand new MAS CEO Ahmad Jauhari to form an additional Premier Airline as voiced recently is only an additional proposal for a money-making-scheme.
If Ahmad Jauhari is not careful, he will be indicted of following in a footsteps of what Prime Minister Najib Razak is you do now, steal some-more income as well as siphon it out, but even considering to revoke a carrier's expenditure, increase efficiency, trim a number of staff or revo! ke a num ber of a house of directors, revoke a remunerations, or even shutting down a losing subsidiaries or reviewing a benefaction contracts as well as agreements in between MAS as well as it vendors especially a catering association supplying food for MAS.
Malaysia is already RM445 billion in debt as well as MAS is contributing about RM1.2 billion of debt each year. Has a UMNO-BN government not learned any lessons yet? MAS should possibly sire up or only close shop.
Malaysia Chronicle
Kejayaan pimpinan UMNO jana ekonomi negara: Najib
More Barisan Nasional (BN) | Pakatan Rakyat (PR) | Sociopolitics Plus |
No comments:
Post a Comment