Thanks for making us share MAS' pain
YOURSAY 'At the end of the day, taxpayers are the ones who bear the loss.'
Gov't spends RM1.4bil to buy out MAS
Caripasal: Khazanah Nasional has been the major shareholder of Malaysia Airline System Bhd (MAS) for many years, and have been unable to turn MAS around. What makes them think that it can transform MAS with this latest privatisation move?
The so-called restructuring is none other than selling a major portion to Abu Dhabi-based Etihad. If BN is so concerned about national pride (for filing for MAS bankruptcy), why sell it to a foreign company?
Perhaps we shall call it Etihad Malaysia. Perkasa and Isma should comment about this 'pendatang asing' owning MAS.
And congratulations to BN for another failure. BN must be proud that they still have enough oil money for yet another multi-billion bailout. Now that MAS is under Khazanah, it is officially using taxpayers' money.
Cronies must be happier than ever as their robbery can now continue without public scrutiny (as it is not necessary to report to Bursa Malaysia). Perhaps very soon national oil company Petronas will also need a bailout.
Bad Head : MAS has created a world record with the most number of bailouts. Also a world record with the most expensive purchase of nasi lemak at RM180 per packet. Malaysia really boleh.
Ksn: At the end of the day, the taxpayers are the ones who bear the loss, not that there is anything new in this as it has been done many times before.
Remember then PM Mahathir Mohamad buying back a million MAS share at RM7 each from former MAS chairperson Tajuddin Ramli, a crony, when the shares were being traded at less than RM4?
All taxpayers' money. Now where do we go from here?
Lionking: MAS was brought down by sheer mismanagement but who has been held accountable? No one has been held accountable for its entire mismanagement that started the day Mahathir Mohamad’s 22-year rule began.
It is a shame that an organisation that was of world class standard is being reduced to nothing. It’s just like what happened to Bank Bumiputra. Indeed, Selangor should never go back to BN.
Yours and My Malaysia: There goes my money - down the drain and more of it in the future. The whole board must be charged for total mismanagement. Nobody loses this much money for this long.
Quigonbond: It's not just the company's payroll that's the problem - it's probably the lopsided procurement contracts. No amount of restructuring is going to do any good without revisiting these crony contracts.
Which head will roll? Is this going to be another crime without criminals where billions are lost without any accountability?
Changeagent: Why is MAS still keeping CEO Ahmad Jauhari Yahya despite massive losses? Please do the right thing. MAS is bleeding our Treasury dry.
Mama Mia: I bought MAS shares at RM1.60 each with my life savings. We are now paid a pittance of 27 sen each. I will wiped off RM200,000.
I had great hope since is MAS as national carrier. Now I am left with nothing and so are hundreds of investors.
My faith in Najib is just fading by the day. What is the use of all the BR1MS (Bantuan Rakyat 1Malaysia)? Najib should compensate all of us decently.
iMalaysian: As long as Umno's hands are in it, MAS is going to fail again even though it has now been taken private.
The top man they put in is not based on merit and qualification, but because of political connections. Hence, another failure is in sight..
Myrights: Once becoming "private", the loss will continue to widen except this time taxpayers will pay for it. And the corrupt don't have to be exposed to public scrutiny anymore.
Not Smart: This is a big embarrassment to the government. Being in the driver's seat with almost 70 percent control of MAS and with all the elite personnel in the government and having handpicked the team to manage MAS, this is the final fate of MAS.
What does this show? MAS' failure reflects government's failure as well. A big pity to its innocent workers and families who are to bear the biggest pain and suffering.
MAS can be the landmark of the government as the Master And Slave (MAS) enterprise.
Man on the Street: This is another grand failure by the Umno-led government. The core of MAS' failure rooted in cronyism, corruption, nepotism, political inference and one can go on...
Kilgore: Here's a thought: hire somebody qualified to run it for once and keep your grubby paws out of the till.
Cantabrigian: Thank you Khazanah, for making MAS a truly Malaysian company. Now, every taxpaying rakyat shares the MAS debt.
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