Comments for Wee Choo Keong

Posted by Tanpa Nama | Posted on 1:33 PTG

Comments for Wee Choo Keong

Comment on AJ & Rashdan: What “COST CUTTING”? – Part 1 by Me

Posted: 29 Feb 2012 08:11 AM PST

Now with RM2.5 billion losses, that RM18 million sponsorship seems so puny…

Numbers can do wonders…

Comment on AJ & Rashdan: What “COST CUTTING”? – Part 1 by Recalcitrant

Posted: 29 Feb 2012 07:49 AM PST

Wow, even the analysts’ “predictions” didn’t come close. The RM1.2billion loss is actually now twice that, at RM2.52biliion. This means a number of things -
One, AJ, Danny and the consultants managed to lose, in one SINGLE quarter
more than the total losses in the 3 quarters before that!
But, let us look a little more closely at the numbers, which so many analysts, post-briefing, did not pick up, or did not think it worth reporting so that a CLEARER picture can emerge. See, in that huge loss,a total of RM1.1billion is due to “provisions”. To a simple person, this can be explained by saying, provisions are those expenses which have been incurred or committed to
in that financial year, which is not totally paid off yet. But, how does one explain a provision of RM602million for “redelivery of aircraft” which is clearly to be done in FY2012. What does “redelivery of aircraft” mean? It means the returning of leased aircraft either due to end of lease or before end of lease. All leases will stipulate the conditions for the return of the aircraft, in layman’s terms, one must ‘make good’ the aircraft when you return them. For aircraft, ‘making good’ is an expensive exercise, which as the CEO says is going to cost RM602million. This redelivery of aircraft is scheduled for 2012, so why is RM602million provisioned for FY2011?
This then means a second thing – is this designed to make the FY2011 losses look really frightening?. Why? The answer is already in the statements made by AJ – to justify the IMMEDIATE ACTION PLANS they must carry out including redeployment of staff (as a result of the spin-offs of core business units into
subsidiaries), to divest business units by looking for strategic partners, to generate cash etc etc. Back to my earlier posting, they now have a legitimate excuse to make ‘harsh decisions’ including forced relocation of staff to KLIA even if it costs RM30million. Why? Well, it’s just a “one-off” cost, but the prime land in Subang can be used to “generate” cash. Part of WAU2 la.
AJ could not explain either during the staff brieifing how come the staff costs rose by about RM1 billion from FY2010 , when he stated staff costs rose by just 7%? The new CFO was equally flummoxed and the question was dismissed. Could it be that another RM1 billion was also inadvertently included to further inflate the losses? Aj and the Chairman himself took great pains to tell staff that their ACTION PLANS are fully endorsed by the two main shareholders, Khazanah and Tune. Of course la. This is one real sandiwara.
One wonders whether in the history of corporate Malaysia, there is a Board and management that took so much trouble to ensure that the losses are magnified with such tweaking of the numbers (legal, I am sure, but ethical – that’s questionable). The ends justifies the means, or, matlamat menghalalkan cara. Halal?
Fellow Malaysians, wake up! Especially those who have been righteously condemning MAS for the flagrancy in the usage of taxpayers money – now is the time to ASK questions and scrutinize all the numbers. Do they add up??

Comment on AJ & Rashdan: What “COST CUTTING”? – Part 1 by Flyguy

Posted: 29 Feb 2012 06:40 AM PST

based on today townhall when announcing full year 2011 result which MAS has broke its own record on the most losses of the year, it seem that MAS deserve grammy award for
1. the clueless CEO of the year award
2 the clueless CFO of the year award
3. the creative accounting of the year award
while MAS staff fully aware AJ is clueless, seem that our new CFO also clueless on the figure presented in the full year financial report. how come both CEO and CFO can’t even answer simple Q from the staff what made the diff on staff cost from year 2011 and 2010.
we are doom…….

Comment on AJ & Rashdan: What “COST CUTTING”? – Part 1 by Sshsn

Posted: 29 Feb 2012 05:15 AM PST

So going by your logic MAS only got screwed post merger? But that ain’t the case ain’t it? What the he’ll happened to them before that? Got balls to write or theyre being held by your political masters? Typical dumno ass

Comment on AJ & Rashdan: What “COST CUTTING”? – Part 1 by edward

Posted: 29 Feb 2012 05:06 AM PST

what is the point hiring consultants, when throughout their tenure with MAS, no positive significant changes towards the company has been done. That’s exactly the problem when you bina dulu baru fikir…it should be the other way round…fikir dulu baru bina…

Comment on AJ & Rashdan: What “COST CUTTING”? – Part 1 by Reny

Posted: 29 Feb 2012 03:00 AM PST

Rashdan should sponsorship QPR with more than RM18 mil as a way of cost cutting. Stupid consultant mentality. Bloody Bina Tak Fikir idiot. So is Azman his master.

Comment on Dr Don: MAS-AIRASIA share swap is a “NATIONAL TRAGEDY!” by Mohamadon Abdullah

Posted: 29 Feb 2012 02:44 AM PST

Olek Skilgannon

Discretion is the better part of valour.

Comment on AJ & Rashdan: What “COST CUTTING”? – Part 1 by Anon66

Posted: 29 Feb 2012 02:31 AM PST

wah lah! RM2.5 billion in losses! That last quarter was seriously bad! But I’m sure that 18 million in QPR sponsorship will help claw it all back!

Comment on AJ & Rashdan: What “COST CUTTING”? – Part 1 by Jala

Posted: 29 Feb 2012 02:24 AM PST

What do you all expect from the Panamera Deadwood like AJ & Rashdan? Welcome to the Panamera Deadwood Club in MAS.

Comment on AJ & Rashdan: What “COST CUTTING”? – Part 1 by MAS Idiots

Posted: 29 Feb 2012 12:48 AM PST

Agree. Govt must bring back Tan Sri Aziz n Dr Don to replace 600 useless but expensive consultants.

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