==> Pls visit new site at http://malaysia-today.net/ <==

I will let you on a secret. Jet fuel price is skyrocketing! But, what has this got to do with Pak Lah's cronies?

by Matthias Chang

Well, many of them have directly and indirectly latched on to the wings of AIR ASIA - the cheap-fare airlines that was the darling of the spin doctors and investors. Having the Minister of Transport (the previous two especially) as your sympathetic Godfather was a bonus. All "good things" don't last forever.

And the good times are coming to an end. There won't be any more champagne parties for Air Asia. Already, in the USA cheap-fare airlines are heading for the scrap heap. To cover up their financial stress, Air Asia is already levying surcharges on other items as a short term measure to maintain airfares at current levels. But, this wayang kulit has to end and price increases will be inevitable! There won't be any more cheap flights. Expect to see requests for government bailouts.

When the financial tsunami finally hits Malaysia, companies that will be most vulnerable will be companies like Air Asia and those companies in the car business which are highly leveraged. Pak Lah's cronies who are in the investment banking business up to their eyeballs will also suffer massive losses when their values hit south in the stock market.

Pak Lah's cronies are all involved in these business and they ARE BLEEDING MONEY! And there is no blood transfusion available. The banks that were financing these businesses are stuck. If they provide more funds, it is throwing good money after bad. If they don't provide additional liquidity to meet short falls and increasing costs, bankruptcy stares right into their faces!

If you have invested in these counters, get out when you can. But, if you have plenty of cash, you can buy exotic cars for dimes in the dollar. In so far as the shares of these companies, you can frame and hang them up as a reminder of your greed and stupidity.

Pak Lah's cronies have been bleeding money and will be bleeding more money in the months ahead. Therein, lies the pain and agony because these cronies are in a dilemma.

It is only a matter of time before UMNO do Pak Lah in for screwing big time in the 12th General Elections. But the cronies are hoping and persuading Pak Lah to stay on so that their "investments" will not end up in smoke. But each time, UMNO members at Branch and Division levels calls for his retirement, they suffer a minor heart attack.

The billion question: "Do we liquidate and run with what we have in hand, or do we hold and wait for our fortune to turn for the better?"

READ MORE HERE

Comments (34)

...
written by malsia1206, April 20, 2008 14:57:26

Matthias, if I place your report in front of a mirror I can see the same refection of a similar scenerio in 1997 during the time of your former boss. Many of his linked-companies in Bursa then failed miserably too. So what you are actually saying is nothing new. The current PM is also dancing to the tune of the former PM. Takes 2 of the same kind to rape this contry and bleed it dry. And you know I know the rakyat's money is all thrown into the towel. The next knock on our door would be the extortionists from Lembaga Hasil demanding we pay more for all their ill schemes and follies. No thanks to you for this stark reminder.

report abuse

disagree 10

agree 158

...
written by crozz, April 20, 2008 15:01:24

There is a saying in economics that goes "There is no free lunch". An adage full of wisdom acknowledging that the universe is bound by the laws of causality. Basically, rubbish stink and while you can sweep some under the carpet, the carpet fills up eventually and the hall smells like pasar borong. Which the tightening screws of check and balance from the aftermath of the advent of free media and dissension, it will becom increasingly difficult to "sweep things under a carpet" as technology brreds a more efficient bloodhound of criticism to sniff them out. People will bleed and the first casualties will be those least prepared, our ex-UMNO BN representatives in the 5 PR states and the leaders/cronies linked to them.

report abuse

disagree 1

agree 32

...
written by oster, April 20, 2008 15:02:22

If there are no reforms that address the fundamental lack of hard bones in our local businesses' legs when it comes to dealing with competition and the prospect of reduced protectionism, then obviously, liquidation is the way to go.

Remember 97'? Of course you do. Twas the time when our government cowered behind their protective walls and hoped for the problems to go away so that we can resume old practices. Lucky for us, it did go away - for a while. And we haven't even recovered from THAT debacle.

97' was an opportunity lost, missing this one again will mean that liquidation is the only path to go down along.

cheers

report abuse

disagree 0

agree 27

...
written by binarytan, April 20, 2008 15:15:56

When you are in power, you have the ultimate power to do anything you want - typical BN ruler.

When you are not in power, all cronies ran away - typical TDM when Rafidah said no to him, so next round is AAB and will be very soon.

If these cronies are not able to find more money, the will also be no money to support politics. Current situation almost will tell in 3-6 months' time.

Hence BN still wanna to live heavenly? Believe me, not long.

Some UMNOputras will be begging for jobs along the streets.

report abuse

disagree 1

agree 35

...
written by jingoza, April 20, 2008 15:21:33

WOOF WOOF ! WOOF WOOF ! WOOF WOOF

report abuse

disagree 1

agree 14

...
written by ibabonma, April 20, 2008 15:21:41

UMNO cronies hoard their cash in Switzerland, Singapore, and Caymans. What ever happens, they are still filthy rich. Look at that M2M, the MB that “songlap dan bawa lari anak raja untuk kawin tipu di SIAM”.

report abuse

disagree 1

agree 28

...
written by uxzee, April 20, 2008 15:35:20

This is an area where TDM has the expertise - both to create the problems and also to solve the problem thru bailouts. We all saw his his handiwork in the MAS bailout, MISC buyback by Petronas, rescue of his children's failed business ventures, Perwaja Steel and many many more. So what do we expect someone of AAB's inteligence to do ? He will naturally outdo TDM and screw up bigger - like what we are seeing.

Ofcourse AAB's cronies are proping him up to save their a$$e$. But don't you think TDM's cronies are placing their bets and $$ on TDM in his bid to topple AAB and with a hope of a GOOD time for them once more if Najib becomes PM and play puppet for TDM.

The place for AAB and TDM and Najib is in the gutters. And this has to be done immediately.

report abuse

disagree 1

agree 36

...
written by malsia1206, April 20, 2008 15:36:02

Oh by the way, Matthias, further to my very top thread in response to your report, please go back and ask your former boss how much did the Malaysian Government pay for Tajuddin's stake in MAS? I forgot as my memory is failing me, like your boss when he appeared before the Royal Commission on 'correct x3'.

report abuse

disagree 2

agree 68

...
written by hakuna, April 20, 2008 16:16:54

Matthias - you are a very loyal to your boss - it is good to see such loyalty - what breed are you?
When TDM plundered the country with his cronies - were you in hibernation?
Do you think anyone here cares for your bias article?
One thing is that your boss has taught AAB well to rape the nation.

report abuse

disagree 1

agree 62

...
written by caxyz, April 20, 2008 16:27:01

Thanks Mathias Chang for the reminder only at the same time no thanks as most of us already long suspected Air Asia is a deliberate con job connieved together by KL and cronies and designed to fall out of the sky.
Buying all those planes for the vast commission seemed the name of the game.
Government bail out!! not so easy lah. Remember the strong voice of the Rakyat, our PK.

report abuse

disagree 1

agree 33

...
written by Amadas, April 20, 2008 16:46:38

All is not gloom and doom. There is also bloom and it very much depend on what AAB government does.

If AAB government adopts an even more all inclusive mindset in government, truly reform the judiciary, reform ACA, finetune ISA to only terrorists ,introduce freedom of information act, invest in human capital and offer a competitive investment package for both foreign and local dometic investors ...Malaysia will be able to weather the current uncertain global economic environment and be on the path to register good economic growth.

The basic infrastrucure must be put on very strong foundation first.

report abuse

disagree 1

agree 12

...
written by aliseman, April 20, 2008 16:48:43

I got caught in 1998. Lost a lot of money then. Not this time. But the cronies never learn. With no way of making easy money in PP, Perak, Selangor and Kedah, and stuck with margin calls, most of the ADUNs and their cronies are going to go burst. They are very scared of DSAI. If DSAI takes over the premiership,...finish. He is going to eliminate them for good by telling the banks and Stockbroking houses to do whatever they want to do to get their monies back. Love to see that happen to all those crooks. ha ha ha ha

report abuse

disagree 0

agree 33

...
written by PR Msia, April 20, 2008 17:00:21

Another story about how malaysian blood and sweat money go into smoke.
RAKYAT, please wake up to this call.
Vote for PR who serve for the RAKYAT.
When DSAI come in as the PM, things will be different.
I want my tax money back. And the country every inch of lands have been illegally transferred into politicians hands.

report abuse

disagree 2

agree 17

...
written by FFT, April 20, 2008 17:35:29

Poor Matthias!

He thought he could avoid the grilling from MT readers by quietly sending his bollocks in to a pro-Mahathir blog instead of submitting it to MT....and yet it appears on MT's "Around the Blogs" section.

Anyways, thanks for the history lesson. You just described Mahathir's administration during 1997.

report abuse

disagree 2

agree 24

...
written by KotaDamansara73, April 20, 2008 17:42:23

Matthias,

You are already well known as Mahathir's ball carrier is legendary, second only to Megat Junid. You are one bastard with no brain. Don't think too big of yourself.

report abuse

disagree 4

agree 31

...
written by Caesar, April 20, 2008 18:56:09

Air Asia is a success story for Malaysia and for cheap air-travel for the masses. It is shameful that you try to sabotage the company by including it in the UMNO-war. For a start, you are not an UMNO member, or are you? As we all know, Mahathir made a name for himself disparaging the Jews, the UK and US,for all sorts of similar economic sabotage attempts, during his reign.

report abuse

disagree 4

agree 10

...
written by riau, April 20, 2008 19:15:17

What's so special about AirAsia in the current economic environment of high jet fuel prices. All airlines are facing with the reality that they will need to pass some of the high jet fuel costs to consumers i.e. passengers. What matters is that if there are any bailouts, then this should not come from tax payers' money.

If local Malaysian banks have offered special or cheap financing to AA and are facing problems this should be treated like any commercial investments. Bite the bullet, write it down and take a loss just like their finance counterparts - the Citibanks, Merrill Lynch, and so forth.

If AAB don't copy the Mahathir playbook of '97, then the rakyat can see that he is on the path of taking a different approach to how things are usually done here.

report abuse

disagree 2

agree 8

...
written by Edwin Choo, April 20, 2008 19:52:19

What the fcuk!!! This guy has got to be kidding. Matthias, the dog is barking out loud to protect its master. His well known master still knows how to throw a couple of scraps his way and praise him 'Good Boy, Matthias'.

report abuse

disagree 3

agree 14

...
written by smeagrooo, April 20, 2008 20:21:51

i wonder how Tune Money is doing. The ah Long of Msia. And another crony got the job of CEO for another Tune company, he was a former radio DJ. Futsal kaki also. Came up with myteam to sucka the msians. as if a bunch of has-been can bring glory to msian football.

report abuse

disagree 0

agree 4

...
written by cancan, April 20, 2008 20:54:03

Business versus Politics

Link: http://www.kingsmary.********.com/

report abuse

disagree 0

agree 0

...
written by apanama, April 20, 2008 20:59:20

Mati yas doggie. sit down. bark. get up. bark. follow mamak. go shit. come back. matthias doggie. come. sit down. bark. shit. woof. that's you matthias. hahaha. boleh blah lah. kaki angkut bola mamak.

report abuse

disagree 3

agree 7

...
written by HamChak, April 20, 2008 21:20:24

Aiyaa Mathias,
Go and have a life ma.
Don't follow a "Yesterday Senile Old Man.
He was no better when he was PM.

Go and practise your law la
At least be famous, otherwise get Lingam
to be your master.
He can teach you a few KORET,KORET,KORET!!
techniques lorr.

If no business, never mind la,
You can be my DEBTS collector ma.
You were very good at it, 27 years ago !

report abuse

disagree 1

agree 10

...
written by Chaptokam, April 20, 2008 21:37:05

Matthias ,Are you asking all of us to dispose ans sell our Air Asia shares and equities ? You know Matthias , in the Stock market when they tell you the shares are no good , sell , you know why ? Stupid lah you Matthias somebody wants to buy cheap shares , thats why all the bulls about those companies . But when somebody wants to sell , they'll tell you all the good things of the company , such that they sell , you pick it up , right STUPID!! didn't your boss TDM teach you that???
So Matthias if TDM , his sons or his cronies , so many of them all so mighty rich wants to buy AIR ASIA say so lah don't give this crap and bull story OK . Sometimes you are very clever but MOST of the times you are STUPID . It takes a screwed up guy to hire a STUPID guy like you .

report abuse

disagree 1

agree 14

...
written by tipuism, April 20, 2008 23:32:52

I doubt that jet fuel prices going sky high will affect Air Asia.

they probably already have a secret agreement with Petronas to obtain a supply of highly subsidized Jet fuel in the form of a forward purchase agreement.

After all, Petronas is already supplying GAS to Tenaga at 10% of the actual market price and in spite of this, Tenaga is slow in paying their Gas bills.

These leeches will continue to suck the life blood Petronas as long as the current administration remains in power.

There is so much dirt under the carpet that the carpet is bulging and ready to explode. We need a change of Government so that all these crap can be cleaned out once and for all

report abuse

disagree 0

agree 3

...
written by budakindia, April 20, 2008 23:57:56

let them all in smoke! I want to see his SIL get the "best" of everything! Hmm people chasing him with parangs! Ooops my imagination runs wild! Sorry!

report abuse

disagree 0

agree 3

...
written by sataysticks, April 21, 2008 00:04:02

My dog shares you name and he wags well too!

report abuse

disagree 2

agree 6

...
written by MRDaniel LOOI, April 21, 2008 07:02:34

BN only created wealth for cronies. Its includes MCA cronies, MIC cronies, Garakan Cronies. Please leave some for the poor citizen, who has to bare for the fuel increase, food increase, etc. Pakatan Rakyat please act fast take over.

report abuse

disagree 0

agree 2

...
written by loosecannon, April 21, 2008 09:28:24

For once I do agree with Matthias Mahathir. The gravy trained for the Umnoputra and their cronies has been derailed by the recent political tsunami and none too soon. They have it too good for far too long. The fruits by the effort of the rakyat's sweat and tears have been stolen by a bunch of theives who don't even feel shame or guilty conscience. Serves them right. This is not the end of the story. We hope to see justice done soon when these theives are put behind bars and their assests returned to the rakyat.

report abuse

disagree 3

agree 3

...
written by KELADIHUTAN, April 21, 2008 09:47:53

balik-balik dia ni...tell me something i don't already know

MC, did you write this or TDM did? go back now you have a lot of catching up to do with CM (Chandra Muzaffar).

report abuse

disagree 0

agree 5

...
written by SeriousLy, April 21, 2008 12:02:38

They're wiping their mouth with wet tissue. The Chinese saying...steal things to eat don't forget to wipe your mouth. I'm afraid that if PR takes too long to take over the federal government there'll be no trace left.

report abuse

disagree 0

agree 5

...
written by 1eyecls, April 21, 2008 23:07:29

malsia 1206,tat time the MAS inside price under the KLSE was rm3.20,mr.Matthias Chang's ex-boss bought it outside the market at whopping rm8.00!
Most of the MAS shareholders at tat time almost got in- saint,they keep-on asking:"Mahathir,why didnt you buy from me?i m willing to give u a big 30% discount from rm8.00!!!!!!!!!dude!!!"

report abuse

disagree 0

agree 0

...
written by apa jadi, April 22, 2008 11:53:08

Ooi...tea minion, you were standing near a fan when you master was in reign. The shit hit the fan and one big chunk of the shit went into you mouth. You are still trying to cough the remnant out of your mouth? Lately you master also tried to cough out those that choked him. I suggest you and your master just wash your mouths and clean them with clorox.

report abuse

disagree 1

agree 0

...
written by Change or Be Changed, April 22, 2008 23:46:08

Business and politic dont mixed. This is a universal advise. Tony Fernandes was involve in the GE12 for the BN and the rakyat should not support the Business he is in.

report abuse

disagree 0

agree 0

...
written by Change or Be Changed, April 22, 2008 23:48:45

Where got such thing as budget flight. Its only for suckers who think they got a cheap flight and it just like the same scenerio for the share market. Only rich and influentual people make money while the poor small investors are the real suckers and losers.

report abuse

disagree 0

agree 0