vox populi small thumbnail 'Those holding AirAsia shares took it badly - they knew that if MAS got involved, the gov't cronies would repeat what they have done elsewhere.'

Airlines share swap: Barbarians past the gates

Onyourtoes: Whether a company is asset-backed or debt-laden does not matter. It is how the assets are used to generate income flows that matters.

Asset prices are determined by its income generating capability, not by its intrinsic value per se. Assets are useless if used ineffectively and poorly. Having said that, I am in full agreement with the observation that the swap deal was probably laden with suspicion and impropriety.

MAS, like most government-linked companies (GLCs) are always treated in this way, i.e. it is funded by public money, which technically means no one is interested to protect the shareholders' interests.

In competition with proprietary-owned corporations, they will always lose out because the regulators (i.e. the government) can always be bribed to look the other way.

The independent power producers (IPPs) and Tenaga Nasional are a case in point. It is not the government, or those in state investment arm Khazanah, who are stupid.

It is an agency issue in the sense that those entrusted with looking after public corporations do not share the same motivation as those owning the public money (which is the public, you and I).

Globally there are hardly any GLC success stories except maybe Singapore. If we don't have good people and good governance mechanisms in place, failure is assured for most GLCs.

Jedi_Who: I can understand why those holding AirAsia shares took it badly; they knew that if MAS got involved, the government cronies and greedy barbarians would repeat what they have done elsewhere - rape and pillage another good company.

Lakia: That is the typical nature, character, style, mind, heart and goal of the BN. They are thieves and robbers of the public purse. Therefore we cannot blame them.

It's we, Malaysian voters, who are the stupid fools. We keep voting for thieves and robbers, election after election. By putting such rubbish in power surely we also get the same rubbish out.

We knew they are thieves and robbers, but we stupidly gave them the keys to our house. Then we complained of their theft and robberies. When will we learn?

Dr Irwan Jusoh: We hope that Selayang MP William Leong also probes into other deals involving the 40 Chinese billionaires in Malaysia. If not, his analysis are merely selected commentary along racial lines which fits him and his electorates.

Pokai: These peoples in any GLC in this country is out to make hay while the sun shines. Who cares if the GLCs go to the dogs as long as their pockets are full. When the business goes down the drain, just hand it back to the government.

The government will take over, pump in more money and hand it over to another bunch of people, and it goes on and on this way.

Oscar Kilo : This deal has also been rushed through before the Competition Act comes into force. Obviously, there are things that the government is hiding from the people.

2lang: And they want to position MAS as a premium airline against Singapore Airlines (SIA) or Cathay Pacific? No way because like it or not, MAS or SIA are seen as national airlines hence they reflect the image of the country.

If compared, which airline would you prefer? Can you really believe Malaysia represents efficiency and reliability? Stop dreaming, MAS.

Parameswara_40fe: As long as there is corruption and a lack of transparency, things like this will continue to happen. The leaders always forget that their bosses are the rakyat. And the rakyat always forget that they are the bosses of the leaders.

Sodom Me Sodom You: The lesson in all this is age-old. The fat cats get fatter and the people end up dead. William Leong, thanks for shedding light on this matter. I am really proud that you're my MP.

Righteous: Like our Indonesians say about ‘deals': "Bisa di-atur" (It can all be arranged).

Jailing Anwar will not end BN's problem

Anonymous_4031: It is very silly to think that only there is one Anwar Ibrahim. When one is down, many more Anwars will rise to the occasion.

And never forget that there are others who can take up the mantle of leadership: Azmin Ali and Nurul Izzah Anwar of PKR, Abdul Hadi Awang and Mohamad Sabu of PAS, Karpal Singh and Lim Kit Siang of DAP, to name a few from each of the partners in Pakatan Rakyat. In fact, there are many others.

Anonimous Z: They can jail Anwar or any existing opposition leaders, but they can't stop the thousands of the high calibre justice-seeking Malaysians who have yet to surface.

Leaders come, leaders go. The most important thing is that evil will eventually be defeated. Just look at the history of mankind.

It is just the matter of time, with God's wish and with the determination of more Malaysians, by the next general election we shall see the corrupt regime thrown into the Straits of Malacca.

Meanwhile, we shall continue the fight with even greater stamina and endurance.

 

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