Malaysia Airlines to be taken private ahead of revamp

Deeply troubled Malaysia Airlines will be de-listed and taken private ahead of a major restructuring following the double disasters of MH370 and MH17, under a proposal announced Friday by its majority shareholder.

State investment vehicle Khazanah Nasional, which owns 70 percent of the flag-carrier, said it would purchase all minority shares and finalise a restructuring plan by the end of the month.

The move confirmed growing speculation that Khazanah planned to completely take over Malaysia Airlines to strengthen its hand in addressing the free-falling carrier's mounting problems.

Khazanah said all stakeholders will need to work together to save the company via a "complete overhaul of the national carrier on all relevant aspects ... (including) the airline's operations, business model, finances, human capital and regulatory environment."

"Nothing less will be required in order to revive our national airline to be profitable as a commercial entity and to serve its function as a critical national development entity," it said.

Malaysia Airlines has reeled from years of financial losses and its survival is now seen as in peril following this year's air catastrophes.

Flight MH370 disappeared mysteriously in March with 239 people aboard, en route from Kuala Lumpur to Beijing. No trace has been found and the airline was widely criticised for its handling of the crisis.

On July 17, MH17 was shot down over Ukraine, with another 298 people killed.

Though it formerly had a solid safety reputation, the carrier's association with tragedy has pummelled bookings, and analysts said it is burning through its cash reserves at a rate of around $2 million per day as it struggles to survive.

It lost 4.1 billion ringgit ($1.3 billion) from 2011-13, and a further 443 million ringgit in the first quarter of this year, blaming MH370's "dramatic impact" on bookings.

Earlier Friday, Malaysia Airlines had its shares suspended on the Kuala Lumpur stock exchange ahead of the Khazanah statement.

The company is expected to unveil its second-quarter earnings in mid-August.

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https://my.news.yahoo.com/malaysia-airlines-taken-private-ahead-032446398.html

like i said inside info it will reach until 0.30 before financial result then a bit o down around 0.028 before shoot back more hirer when govt announce the soon after that .

Just got info from insider, it will move to touch 0.30 before the announcement of Quarter Report. Then the price will go down a bit as people already anticipate the quarter report is not good and govt will come and announce the restructuring/privatization plan.

50% of my investment for this counter will go to SAVE GAZA movement. They Need our help. Thats my target.

The rumor about PETRONAS interested on PP also i heard. But not sure it is true or not.

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In January 2014, the State Assemblyman for Kajang, Lee Chin Cheh, resigned. This was so that Anwar Ibrahim could contest that seat in a by-election and thereafter become a Selangor State Assemblyman.

But why does Anwar need to be a Selangor State Assemblyman? Well, according to PKR’s political strategist, Rafizi Ramli, as he said in an official statement in January this year, this is the reason why:

While Khalid Ibrahim’s administration has shown sterling performance over the last 6 years that endears him to the public, there are rooms for improvement in many areas especially given the latest dynamics in Umno.

It is an open secret that the move to remove Najib Razak has begun. As a party strategist, I cannot rule out the possibility that Najib is removed and Umno falls to the ultras led by Mahathir Mohamad’s faction.

The unscrupulous attack and schemes to take Selangor by hook or by crook will begin the moment the weak Najib is removed. Even as we speak, Umno’s cards are all too obvious in the latest round of racial and religious controversies stirred up in Selangor in the last few months.

Should Najib fall, expect a full-blown manipulation of racial and religious issues to create mistrust and frustration with the Selangor government.

That was what Rafizi said. Prime Minister Najib Tun Razak is in danger of being ousted (toppled by Dr Mahathir) and when he falls Umno will then successfully take back Selangor unless Anwar is made a Selangor State Assemblyman.

But how can Anwar stop this from happening? Will Anwar be taking over as Menteri Besar?

At that time the answer they gave us was ‘no’ (but now Anwar says that this was the plan all along). They have not come to that stage where the position of the Selangor Menteri Besar needs to be discussed or considered. The plan is only to make Anwar a State Assemblyman.

But why the sudden move? This appears like a knee-jerk reaction?

It is not a sudden move, said Rafizi. This was being quietly planned behind the scenes for a few months since the second half of 2013 (that means around three or four months after the general election). In fact, negotiations with the Kajang State Assemblyman, Lee Chin Cheh, took a bit of time before an agreement was reached.

According to Lee, he said he would only resign if Anwar were going to be the one to contest that seat. And he agreed to resign only after he managed to meet Anwar to discuss this matter and get Anwar’s assurance that he (Anwar) was going to be the candidate.

This all happened in 2013 and then, in January 2014, a few months later, Lee resigned and the announcement for the ‘Kajang Move’ was made.

It was during that same period, the fourth quarter of 2013, when the Selangor State Government made its official and final offer to the water concessionaires, in November 2013 to be exact, meaning around the same time that the Kajang Move was being mooted.

It is probably purely ‘coincidental’ that the Kajang Move and the offer to the water concessionaires both happened around the same time.

Many PKR leaders, Anwar and Rafizi included, said that the Kajang Move, planned in 2013, is crucial because of the water concession issue, the Bible issue, the Kidex issue, and so on (plus because Khalid Ibrahim is not a ‘team player’).

Okay, in 2013, at the time the Kajang Move was being planned, the state had only made an offer to take over the water concessionaires. It was still being negotiated and nothing had been settled yet at the time the Kajang Move was being mooted.

Then, in January 2014, the Kajang Move was launched. But it was not until the following month, in February 2014, when the MoU on the water concessions was signed.

In other words, even if you want to consider the MoU on the water concessions as an issue to justify the Kajang Move, it did not become an issue until one month AFTER the launching of the Kajang Move. When the Kajang Move was being planned in 2013, and when it was launched in January 2014, there was no such thing as a ‘problem’ with the water concessions.

So how can one of the reasons for the Kajang Move be the water concessions when no such ‘problem’ existed yet, that is in the first place if you want to even regard it as a problem?

The next justification for the Kajang Move and another reason why Khalid needs to be ousted is because of the Bible controversy.

But the Bibles were seized in January 2014, after the Kajang Move was mooted in 2013, and it did not really become a problem until June 2014, five months later, when the Attorney-General ruled that the confiscation of the Bibles was wrong.

The so-called problem here is not regarding the confiscation of the Bibles in January because it was done according to Selangor State law. It became a ‘problem’ in June when the AG ruled that the confiscation was wrong and the state still refused to return the Bibles.
MORE : http://www.malaysia-today.net/the-rm50-million-offer-which-outraged-khalid/

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oit what happen ? Russia Failed... USA Failed.....Netherland Failed .....But NAJIB Malaysian PM Manage to capture international tribute after broke a deal with Separatist in Eastern Ukraine.

Malaysia Premier Brokers Deal to Recover Black Boxes

By KEITH BRADSHER and CHRIS BUCKLEY
July 21, 2014

KUALA LUMPUR, Malaysia — Prime Minister Najib Razak’s announcement that his government had reached an agreement with pro-Russian separatists in eastern Ukraine, for the transfer of the bodies and so-called black boxes from Flight 17 to Malaysian representatives there, apparently achieved what pressure from far more powerful nations had failed to accomplish.

Mr. Najib said in a live television broadcast to his nation early Tuesday that the agreement with Alexander Borodai, a commander of the separatist forces in Donetsk, Ukraine, called for the bodies to be taken by train to Kharkiv, a city held by the Ukrainian government. Six Malaysian representatives were to oversee the transfer of the bodies in Kharkiv to Dutch custody.

Under the agreement, the bodies and the Malaysian representatives would then be flown in a Dutch C-130 Hercules transport plane to the Netherlands for identification and repatriation of remains, Mr. Najib said.

The two black boxes from the plane – which are actually orange —were to be handed over to Malaysian representatives in Donetsk, the eastern Ukraine city that is the headquarters of the pro-Moscow separatists.

Interactive Feature | Victims of Malaysia Airlines Flight 17 Among the 298 people aboard Malaysia Airlines Flight 17 were a renowned AIDS researcher, a Dutch senator and an Australian novelist.

If all participants honor the deal, it would be a diplomatic success for Malaysia. Mr. Najib said that at times over the past few days he had wanted to be more outspoken about events in Ukraine, “but sometimes, we must work quietly in the service of a better outcome.”

The agreement is the result of an unusual spate of diplomacy by Mr. Najib, who held a series of secret telephone calls with Mr. Borodai. A person with a detailed knowledge of the negotiations said that Mr. Borodai concluded that he would only release the bodies and black boxes to Malaysia, although Malaysia would then transfer the bodies to the Netherlands and make the black boxes available for an international investigation.

The backdrop for the negotiations was a slowly growing criticism within Malaysia, including by some in the political opposition, that Mr. Najib did not appear to be more publicly critical of the separatists or Russia.

The agreement with the separatists followed four days of sometimes frenetic diplomacy in which a series of senior Malaysian officials —- including the country’s foreign minister and transport minister —- rushed to Kiev, Moscow and Amsterdam to broker a deal.

Graphic | Maps of the Crash of Malaysia Airlines Flight 17 A Malaysia Airlines flight with nearly 300 people aboard crashed in eastern Ukraine near the Russian border on Thursday.

Malaysia, and particularly Mr. Najib, have played an outsize role in diplomatic agreements in Southeast Asia in recent years, and tried to apply those skills to dealing with the separatists. Mr. Najib brokered the peace agreement early this year between the Philippines government and a long-running insurgency in the south of the country, and he played an earlier role in helping persuade the military government in Myanmar to begin the evolution there toward a democratically elected government.

Malaysia has an enormous stake in resolving the problems that have impeded a prompt investigation of the crash and the quick recovery of the 298 victims, who are exposed to abuse and tampering.

The downed jet belonged to the Malaysian national carrier, and those who died included 43 Malaysian citizens, 15 of them crew members. As well, Malaysia was already struggling with the unexplained loss of Malaysia Airlines Flight 370, still missing more than four months after it disappeared after turning from its planned course. Investigators have concluded that Flight 370 ended in the southern Indian Ocean off the western coast of Australia, but the confusion and missteps that plagued the first days of the search left an enduring blemish on the Malaysian government.

A big question, which was not immediately clear, was why the Ukrainian separatists chose to deal with the Malaysians at a time when the separatists were under pressure by many countries to release the bodies and surrender the black boxes.

Interactive Feature | What Happened to Malaysia Airlines Flight 17 An updated summary of what is known and not known about the crash.

Read More : http://mobile.nytimes.com/2014/07/22/world/asia/malaysia-premier-brokers-deal-to-recover-black-boxes.html?_r=1

kltrader i still havent get the full info. Insider tell me that today going to start the amazing movement of this counter. I share it to all already yesterday night. But i still havent get the info regarding privatization. Only got the info about bankruptcy status only.

ryei i talk to insider and they said bankruptcy is the option which it is highly rejected by union,staff,govt and minority shareholder. As a majority shareholder which also appointed by govt , they will not going to proposed that option unleast it is necessary and there no other choice. thats what an insider tell us.

hehehh i told you so it will close 0.23.heheheh

aiyo look like have to wait a bit longer. so huge sell q

possible close 0.23 today.

waiting for after 4.30?

that means privatize. possible around 0.25 - 0.40

still dont know about privatisation but one of the option based of the insider is also privatisation

hahaha i told everybody already. source from inside the co...Mas will not go for bankruptcy. Govt will inject more fund, restructure management and operation and price arrangement and route.

candygirls, what i heard from inside the company,bankruptcy will not be an option for khazanah taking into consideration of Union,staff, minority shareholder,govt and political will on this. That what i heard from inside la. still waiting for the man inside to reply me on the potential of privatization or this airline.

alanleong

PP = Private Placement which use by public listed co. to raise enough capital/money from selected investor to fund their project/ business. Thats easy to understand ?

or

The sale of securities to a relatively small number of select investors as a way of raising capital. Investors involved in private placements are usually large banks, mutual funds, insurance companies and pension funds. Private placement is the opposite of a public issue, in which securities are made available for sale on the open market.

najib brother need money to purchase the pp. :-)

i dont know also how the the market sentiment. But that is the info that i get from someone inside. I ask him whether there is any suggestion on privatization and at what price he not reply yet. But he did mention one of the option is for govt to pump in money and restructures the management team and also the operation. He said the plan it to ensure they can appease the Union also where two things has been request by the union which is change of management & govt help. will wait for his reply if any on the privatization. If got i share it here k.

khazanah will not going to put MAS bankrupt as they need to present the new restructuring plan to Govt by this week. Just watch the news on it in tv. They will announce the new restructuring plan early next month meaning after raya.Minority shareholder already give an indication that there going to be restructuring the management and operation and also pump in money by govt to ensure the survival of this national carrier. The bankruptcy option is not on the option and not their plan as govt will not in fever of it as it is national, airline which govt have huge interest on it. That what the minority shareholder and one of my friend inside the airline said. So tomorrow onword you can start see a lot of interest on this counter.

Just watct TV, Khazanah will table MAS restructuring plan this week to Govt.

what happen?

of course la they disposing their share since they want untung ma..Then next week they gonna buy back for the next stage price surge. Based on talk with oil & gas friend who also buying this counter, they said before raya the price move above 0.50. Just to share with all.

See how Jahat this singapore airline SIA. And yet there is a people here recommending SIA takeover MAS.I didnt trust SIA a bit. Thanks to Germany to blow and revealed that Singapore Airlines jets flew over the same eastern Ukraine area 75 times in the past week.

http://www.malaysia-today.net/sias-disinformation-campaign/

Following the MH17 crash, SIA posted a single-sentence message on Facebook and Twitter which said: “Customers may wish to note that Singapore Airlines flights are not using Ukraine airspace”. A German weekly news magazine, however, revealed that Singapore Airlines jets flew over the same eastern Ukraine area 75 times in the past week.

SIA says sorry for ‘insensitive’ post on MH17

(Channel News Asia) – Singapore Airlines (SIA) on Saturday (July 19) apologised for its social media postings following the crash of Malaysia Airlines MH17.

“We are aware that our Facebook and Twitter update on Friday morning may have come across as insensitive to some,” an SIA spokesperson said in reply to queries from Channel NewsAsia. The post was in response to requests from customers who had asked for information about the airline’s flight routes, the spokesperson said in a statement.

“We recognise that the information could have been better communicated and we sincerely apologise if it had offended our customers and anyone else in the online community,” the statement said.

It added that SIA is “deeply saddened” by what happened to flight MH17. “Our thoughts remain with the families and loved ones of the passengers and crew who perished on board.”

Following the MH17 crash, SIA had posted on Facebook and Twitter a single-sentence message which said: “Customers may wish to note that Singapore Airlines flights are not using Ukraine airspace”. It posted another message an hour later, which said: “Our thoughts are with the passengers and crew of MH17 and their families.”

READ MORE HERE

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SIA used same MH17 flight path 75 times in past week, says magazine

(The Malaysian Insider) – As fingers point at Malaysia Airlines for allowing flight MH17 to fly over a war zone, a German weekly news magazine has revealed that Singapore Airlines jets flew over the same eastern Ukraine area 75 times in the past week.

In contrast, MAS planes only flew over rebel-held Donetsk 48 times within the same period, Spiegel Online reported, citing flight tracking website flightradar24.com.

It said Russian airline Aeroflot flew over the area 86 times in the past seven days, Ukraine International Airlines 62 times, and Germany’s largest airline, Lufthansa, 56 times.

“Overflights were recorded here in the past seven days in a radius of nearly 240km to the Ukrainian industrial city.

“In the ranking of the airlines, MAS is at fifth place with 48 overflights… the data shows that the region of Donetsk experienced brisk air traffic,” said Spiegel Online.

I also for the first time agree 100% with anbz. Now people around the world know much about our country Malaysia. The entire world doing this coverage of MH 370 & MH 17. Now people will talk about Malaysia. I watch in yahoo a lot of comment come from people are they even do know where Malaysia is. And when watch the tv and news about MAS ...they started to know a lot not only about our airline but also about our country. Its same happen to 9/11 tragedy where USA blame it to islamic terrorist and people afraid or even skeptic about Islam. It make a lot of book related to islam and 9/11 sold out and one things so amazing is that people start to learn about islam and even the number of convert to islam in America increase tremendously. So when think about it again, fate already crafting MAS future and i also believe in MAS that they can turn around the company as now world wide they are known to the people and Malaysia are on the eye of international community.

I agree with u redeagle

heheheh sudah cakap maaa...... :p

yeah la jolie2 we are so naive. we stay in the jungle and dont know anything about news,media and also aviation industries business. Aiyo why we all become so naive. aiyo aiyo.That airline expert so stupid also we dont know. Aiyo we are so naive. We are so stupid.

wow just heard international expert on aviation give talk about MAS future in CNN. They said MAS will survive. Wow. Now im shock. An outsider have the fate on our National Airline. Even our own people dont have to their own National Airline. Our people willingly see MAS go bankrupt but the outsider or international expert said they are sure MAS will be more stronger after all the struggle.

RUSSIA is on deep trouble.

Now LIVE on CNN. USA President OMABA assure of Full Support to Malaysia and will be with Malaysia on this situation.

Breaking News :

Emergency United Nation Security Council meeting now LIVE in CNN with regard Flight MH 17 Malaysia Airline. UN will make decision. USA will use their veto power.

Breaking News :

Emergency United Nation Security Council meeting now LIVE in CNN. UN will make decision. USA will use their veto power.

wow i thought the price would go down kaw kaw. But really surprise that it rebound and hold strong at 0.2. Wow so nice. Even this incident happen, they dont want to sell much. Instead they are buying the share. walau weii.

Condolence to all the family member of Flight MH 17 from amsterdame to kuala lumpur.

Malaysia airline flight MH 17 has been shot down by ukraine or russian missile system.This is boeing 777.what a tragic years for Malaysia and Malaysia Airline.i fear the price of Malaysia Airline share will go down today. The whole world are in shock.

Sumatec will close above 0.50 before RAYA.This is based on communication with a few buyer from Oil & Gas sector .

Tomorrow price will jump to 0.45.

Terbaik la sultan. Kasi ajar all this PR MP so that they know how to respect people. For the first time sultan murka sangat-sangat. Tak pernah tengok sultan selangor murka dan marah mcm ni sekali.

The fact that one-third of the Sultan’s speech touched on this matter and that Khalid was mentioned by name rather than in parables is probably the first time such a strong rebuke has been issued by the Palace.

Usually Palace rebukes are vague and left to the imagination of the people as to who the Ruler was referring to.

This probably can also be interpreted as a warning shot from the Palace that it will not tolerate any challenge to its authority whether in matters of who can use the Allah word, the Malay language Bible, and so on.

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hhakim well said bro :-)

Oh i thought u in Pet. :-). Wow you must very good.Now become consultant already.

Hhahah where are u bro? PCSB ?

Yeah la...all tech people they tarik to this project.

hhakim i just move from PCSB to PRPC.