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Neutralising Anwar Ibrahim's Ngajat overtures! That's the only rationale I see behind Idris Jala's appointment.

In 1975 when I was in 6^th form at SABS Kuantan, my Economics teacher, Mr Tan Kee Chow, gave us one of the most practical adages. If you borrow RM500, 000 you are at the mercy of the bank. But if you borrow RM500 million, the bank is at your mercy. It couldn't be truer these days. Present day Translation: - If you want to make a mistake, make a gigantic and noisy one. You will get promoted to minister.

What KPI will Idris Jala be implementing? His record at MAS is a very much overhyped one. Losses are masqueraded behind balance sheet cleansing. MAS'' assets are sold for a song. MAS will be having no assets at all. But he has been regarded as the best CEO money can buy. Who does this assessment? The vadey eating Nor Yaakob. Isn't he the one the last time who paralysed Bank Negara with gargantuan losses in the currency market? He made it to finance minister and now heads the EPU. He is now the stumbling block to the proposal by a group to take over road toll concessionaires. Helo mister, that's RM50 billion into the government's coffers. Wang masuk lah, bukan wang keluar.

The only rationale I see with Jala's appointment is Sarawak politics. He is a dayak- Pak Lah thought he was a Muslim and got his chance of becoming MAS CEO. In Sarawak, the survival of BN hinges upon dayak support who form the majority group. After years of neglect and sidelined, Idris Jala's appointment is perhaps a big consolation to soothe things out. It is hoped by this appointment, dayak support to the BN will be secured. I hear Anwar Ibrahim is already learning to do the ngajat dance.

But it can also be seen as an excuse to kick out this dayak from slashing and burning MAS further.

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Comments (10)

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written by krising1, August 28, 2009 17:35:48

Najib is definitely turning out to be PM with no vision. There is already no hope for MAS. The solution is let it go under. Maybe Tajudin will buy it. Your analysis why he is made minister may be right. Things look shaky in Sarawak for BN! But is Idris Jala the answer?

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written by onnetline, August 28, 2009 18:02:11

This is the unethical MAS boss who kept MACC head, Ahamd Said Hamdan's pilot son in employment after being convicted for child pornography in Australia ! ! !

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written by mikewang, August 28, 2009 18:08:41

Maybe Idris Jala will end up frustrated like Zaid and join PKR.

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written by Colomboloner, August 28, 2009 18:10:37

"He is now the stumbling block to the proposal by a group to take over road toll concessionaires. Helo mister, that's RM50 billion into the government's coffers. Wang masuk lah, bukan wang keluar"

Another nonsense writer. If we let above to happen, trust me. that 50 million into government coffer actual from rakyat pocket. KL-Ipoh toll would be raised to RM100. This part we support this goon (Nor Yacob)..

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written by Mirage, August 28, 2009 22:51:57

I know Idris on a personal note and the statement is unfair. Certain actions taken were for a company turnaround. If you have ever been in that situation, you would have to take the first drastic step to turn the company around. He is a turnaround specialist, a meticulous person in execution and the action taken was right for MAS. You couldnt have clean it better within a year all the filth and dirt that was created esp during Tajuddin's time.

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written by Sabahfan, August 29, 2009 00:41:25

TURNAROUND SPECIALLIST MY FOOOT.... its the same old story i heard, and i have personally met accountants who called themselves turnaround wizards with magic fingers, all they do is cook the books and present a figure that looks to be in profit, but now one can see the real results.

Well turnaround, easy mah...

just sack excess staff, who were first appointed into the company by politicians to give jobs to their relatives or cronies, then someone comes along and say we need rightsizing, VSS some less favoured stafflll who came in the front door leaving the well connected staff with the company.. ha ha ha thats a turnaround specialllist??? even my illiterate grandma can do that.

and if MAS already turnaround, how come lately they announce big losses again>>

what happened? and their service now WORST than air asia.. ha ha

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written by confuseus, August 29, 2009 06:39:53

Bulls eye Dato’ Sak. The public is getting warmer. Read my earlier comment below in Brick in the Wall blog.
As expected, whenever there are issues affecting MAS, a lot of nerves will be stroked!

>>Nice one bro, and you are also right, most of the MSM analyst semua makan gaji buta.

Please read
“Turbulence at Malaysia Airlines
A QUESTION OF BUSINESS WITH P. GUNASEGARAM @
http://thestar.com.my/columnists/story.asp?file=/2009/8/8/columnists/aquestionofbusiness/4481057&sec=aquestionofbusiness

He mentioned that “As at Dec 31, 2008, the airline had RM4.62bil in cash, reducing by a huge RM850mil to RM3.77bil as at March 31, 2009 and by a further RM830mil to RM2.94bil as at end-June 2009. That’s a rapid rate of cash depletion of almost RM1.7bil in a mere six months.”

I have written many times that the easiest way to determine a company’s health is by studying their cash flow.
As for MAS, in 2004 MAS cash reserve was RM 2.19 billion, 2005 dropped to RM 1.18 billion, 2006 then was RM 1.58, and in 2007 a huge jump to RM 5.25 billion and in 2008 dropped again to RM 4.62 and then dropped further to RM2.94 billion after only six months.

The big questions which the MoF should be answering to the public are
a. Where did the RM 3.7 billion comes from in 2007 ?
b. Where did the RM 2.3 billion gone to, only 18 months since Jan 2008?

I also agree with the editor P. Gunasegaram who thinks that sometimes accounting is an ass, much like law is more often.

When the time is right I will hit MAS where it hurt most i.e the safety, so much so, the public will be scared to fly MAS.

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written by confuseus, August 29, 2009 06:41:00

More details here:
https://www.blogger.com/comment.g?blogID=19741162&postID=569855440290984899

Btw folks, it has nothing to do with race or religion, only performance and competencies.
I have personally cautioned Munir in 2006 on the potential problems.
Idris majored in Industrial Relations, Sak and Brick in The Wall are trained accountant/ economist while yours truly, a former MAS professional with strong passion in accounting and economist.
Azmil has to come clean and as an accountant not to cook more figures and announce the actual losses or he will be another Fuad Dahlan.

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written by temenggong, August 29, 2009 08:02:36

Idris Jala took on an assignment that he cannot win, and his performance can only be described as satisfactory in trying conditions. Everything was already loaded against him, including the MAS board. If one cannot remove the entire board, then one does not have the sweeping powers needed to clean up and straighten MAS. The obstacles are there in the board. Jala should have demanded more powers right in the beginning.

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